WikiFX Review: Is IQ Option trustworthy?

If you want to know whether IQ Option is a reliable forex broker or not, please continue to read.

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of IQ Option based on the facts.

What is WikiFX?

To explore whether IQ Option is a scammer or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of IQ Option based on its general information and regulatory status

To understand IQ Option better, we explore it by analyzing three main perspectives:

A. General Info of IQ Option

B. Regulatory Status

A. General Info of IQ Option

IQ Options general info has been shown below:

About IQ Option

IQ Option is an online forex trading platform that offers a wide array of financial instruments to its users. Traders gain access to a diverse range of tradable assets, encompassing CFDs, options, stocks, cryptocurrencies, forex, commodities, and indices.

Deposit & Withdrawal

It offers various ways to deposit and withdraw funds: a variety of electronic payment systems, bank cards, and wire transfer options.

B. Regulatory Status

What is a Legitimate License?

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.
• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under protection to some extent.
• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors in evaluating the reliability of forex brokers.
• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of IQ Option

According to WikiFX, these licenses that are held by IQ Option have lost their effectiveness. So we cannot conclude that IQ Option is as regulated as the other regulated brokers.

2. The feedback from X

To figure out whether IQ Option is a scam or not, we did a survey about this broker on X.

Reviews on X:

IQ Option used to have an official account on X. But now it is unavailable.

There are many promotional ads about this broker on social media, traders need to do more research before making a decision.

3. Exposure related to IQ Option on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and reminds you of the risks before it starts.

As of December 18, 2024, WikiFX has received three complaints against this broker. The biggest problem victims complained about the most lies in withdrawal rejection.

4. Special survey about IQ Option from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

IQ Option has been given by WikiFX a low rating of 1.47/10.

B. WikiFX Alerts

5. Conclusion

If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.