Why Does IQ Option Block My Account? – 6 Significant Reasons To Note
IQ Option is a popular trading broker that offers options trading along with other trading classes. The broker is burning the trading world with its tremendous benefits and features. But a remarkable statement read by our teams on forums is, “IQ Option blocked my account.”
There is no doubt the statement is accurate, and the broker has a record of blocking many accounts.
Are they going to scam traders’ money? Or are they blocking accounts without their consent? According to the team’s statement, yes, they blocked the trader’s account but very rarely.
So, let’s talk about how often IQ Option actually does block accounts and why.
6 Reasons Why Does IQ Option Block Account?
The first thing we tell our traders is to read the terms and conditions before opening an account. It has many untold benefits that you will get in the future.
Not only the benefits, but you will also understand what brokers are not allowed to do.
1. To Prevent Money Laundering:
Try not to use someone else’s payment details to deposit or withdraw from the platform. Instead, we highly recommended it use trader’s own cards and e-wallets to prevent money laundering.
2. Suspicious Transactions:
If IQ Option notices any suspicious transactions, they notify the account owners to confirm the operation, and before that, the financial department blocks the account.
3. Multiple Accounts:
IQ Option does not accept multiple accounts from one registered account holder. Therefore, according to the terms and conditions paper, the customer is obliged to register only 1 (one) Real account with the company.
Thus, we keep the right to get the accounts blocked for the violation of our policy.
4. False Information:
Account owners who deliberately provide false information about their personal details may, for example, include customers under the age of 18, who set a different birth date, or individuals who create accounts using family members’ or friends’ names.
5. Account Verification:
Account verification is a mandatory process. The broker blocked one’s account when a trader refuses to provide his/ her documents to verify the account.
6. From Not Recommended Countries:
When the client is a citizen or resident of the USA, Australia, Belgium, Israel, Sudan, Syria, Iran, North Korea, or Japan
How To Get Back The Account
If you are not sure about the reason, send a formal mail to the team IQ Option, [email protected], to get fast and qualified assistance. Before that, check the inbox and spam folder. Make sure that you are entering the correct or valid login and password details.
If you find no e-mail from the team, please contact the 24/7 Support team, as we mentioned above.
Common Withdrawal FAQ
There are some common findings that one should know before start opening their account. We consider those questions as a common FAQ.
The team Binoption found a ton of withdrawal queries from different trader’s forums. Not all are necessary for a new trader, so we picked the top 8 FAQs to make them understand the withdrawal process.
Remember, no accounts will get blocked without any solid reason. Your account got blocked doesn’t mean you hold an illegal trading account.
As soon as we receive the documents or other proof of the legal actions, the IQ team will unblock the account straight away.
We hope this has been informative, and you can share this on your social platforms.