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IQ Option
Rating: Rated with 5 stars
Binary Option Programs Award
Min. Deposit
$ 10
Min. Investment
$ 1
Regulated Broker
Yes

Is IQ Option a Scam?

  1. Traders get scammed by brokers often, so it is not uncommon to wonder whether one of the most popular brokers worldwide, IQ Option, is yet another scam – but this time, a famous one. So, has IQ Option gotten away with it or is this broker worthy of its name?

    We can confidently say that through our careful investigation into this broker we have concluded that IQ Option is not a scam, but truly one of the best and most professional brokers for users in South Africa.

    Don’t take our word for it? Check out the five reasons below.

    How Do I Know IQ Option is Safe?

    1: Regulation

    The first thing to look at when considering trading with a new broker is whether this broker is regulated and licensed.

    IQ Option is fully regulated with a license in the EU.

    IQ Option takes this regulation very seriously, which is an immediate sign of a trustworthy broker that prioritizes user’s safety.

    Scam brokers are often non-regulated, fraudulent companies that comply to no rules whatsoever.

    2: Transparency

    Transparency is key to a company being considered safe and trustworthy.

    IQ Option ensures full transparency throughout their entire site with clearly detailed information, a well-explained regulatory status, extensive terms & conditions and banking services.

    Iq option banner

    IQ Option makes sure their business model, compliance and terms and conditions are clear and available for anyone to read. Specifically, through their Terms & Conditions, South African traders can find valuable information regarding binary options trading, different policies and the risks it may entail.

    All relevant information is organised and divided into the following categories:

    • Risk Disclosure
    • Privacy Policy
    • Payment Policy
    • Cashback
    • Anti-Money Laundering and Know Your Customer policy
    • Complaints Policy

    Commonly, South African traders deposit first and then read the Terms and Conditions, if they even read them at all. IQ Option encourages South African traders to first gather all the necessary information and then to invest their money.

    Scam brokers, on the other hand, tend to have vague sites with no real information about how they work and whether they comply to any rules. This is intentional, of course, and users are often misled by professional-looking sites and do not seek this type of information, when in reality it is extremely important.

    3: Fast and Secure Withdrawals

    Many traders know that the process of withdrawal is commonly a frustrating and long procedure. Some brokers, especially unlicensed companies, do not ever allow users to withdraw their money, which is part of the scam.

    IQ Option ensures fast, 24-hour withdrawals for all South African users. The withdrawal process is especially secure and the fact that it is executed in such a short period of time shows that South African investors do not have any difficulties conducting payments or withdrawing their money from this broker.
    iq option security

    4: Low Minimum Deposit and Demo Account to Practice

    IQ Option is one of the only brokers that allows users to begin trading with only $10.

    Such a low minimum deposit is not only extremely rare, but speaks deeper into what IQ Option’s priorities really are. They want to make trading easily accessible to anyone and even offer a free demo account which allows all South African users to practice before investing any money. This means you can practice on the IQ Option platform for free.

    They also have several video tutorials available to help new traders understand the process.

    Scam brokers never allow users to begin trading with such low minimum deposits and often ask for outrageous sums to only access their platform. This is because their main goal is to scam people into giving money – which they never see again.

    Iq option banner

    5: Reputation

    No one can deny the sparkling reputation IQ Option has built throughout the years as one of the best only brokers.

    IQ Option is an award-winning broker that is fully regulated, transparent and prioritizes trader’s safety above all else. They are considered one of the top and safest brokers for users in South Africa.

    Now even though a broker’s reputation is not an immediate indicator that the company is really trustworthy, IQ Option continues to prove its excellent reputation every day.

    We can personally state that we have received absolutely no complaints regarding IQ Option throughout the years, but only satisfied customers that recommend IQ Option themselves.

    iq option awards

    Conclusion

    IQ Option is not a scam, but one of the best brokers for users in South Africa.

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