Abstract：Recently, WikiFX received a complaint from a trader who is unable to withdraw his funds from a broker named IQ Option. According to the victim, despite repeated emails to the broker’s support team, the responses have been unhelpful and failed to resolve the issue.
Recently, WikiFX received a complaint from a trader who is unable to withdraw his funds from a broker named IQ Option. According to the victim, despite repeated emails to the brokers support team, the responses have been unhelpful and failed to resolve the issue.
Case in Details
In his email—also copied to WikiFX—the victim states that “I'm in dire need of withdrawing my funds at the moment and have explained to you why I can't withdraw using the same deposit method…… Please do well to proffer a means for me to withdraw my funds because, to be honest, you have failed to provide alternatives to address such issues.”
According to the victim, he deposited funds via bank transfer using an Opay (Paycomm)account. However, when he attempted to withdraw his funds, he discovered that the platform offered no withdrawal option through the same method, effectively blocking his access to his money.
Despite reaching out to IQ Options customer support multiple times, he claims that the responses have been generic and unhelpful, leaving him without a clear solution. The victim emphasized that he is willing to provide identity verification documents to prove ownership of the account, yet the platform has allegedly refused to offer a viable withdrawal alternative.
WikiFXs Position
Protecting the legitimate rights and interests of forex traders remains the top priority for WikiFX. This incident has been made public to remind all traders to remain vigilant when choosing a broker.
Situations like this highlight the importance of transparency in withdrawal policies and the need for brokers to provide clear, accessible methods for fund retrieval. Traders should always verify a brokers regulatory status and reputation before depositing funds.
Stay Informed and Protected with WikiFX
WikiFX continues to track developments related to this case and other broker disputes. By providing real-time updates and verified reports, WikiFX helps traders avoid unscrupulous platforms that may jeopardize their investments.
If you want to check whether a broker is safe and regulated, visit the official WikiFX website or download the WikiFX app using the links below:
https://www.WikiFX.com/en
https://www.wikifx.com/en/download.html
IQ Option Status
- Another report shows WikiFX recorded “90 user complaints” against IQ Option, resulting in a very low trust score of 5.47/10.
- According to the publicly documented profile on Wikipedia: IQ Option is registered in Cyprus (via IQ Option Europe Ltd) and holds a licence from the Cyprus Securities and Exchange Commission (CySEC).
However, it is noted that for clients outside the EEA (European Economic Area), IQ Option may operate under unregulated entities.
What this means for traders
This mixed information indicates significant risk warning flags:
- Even with a licence from CySEC for the European operation, the part of services targeting other jurisdictions may be beyond strong regulatory control — meaning withdrawal problems, deposit method issues, and support issues (like the one your victim is experiencing) may be more likely.
- Given the victims issue (cannot withdraw via their deposit method, no clear alternatives offered, support not helpful) this fits a pattern of user complaints that are referenced in public forums. For example, on Reddit:
“My last withdrawal didn‘t arrive yet. … I deposited and withdrew with the same card, and it’s been 21 days but my money has not come.”
All in all, we hope IQ Option can offer user a responsible solution and make it way to help users withdraw the money.
