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IQ Option Withdrawal Problems

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

IQ Option withdrawal problems are a prevalent issue that users always have from time to time. As a longstanding binary options broker existing for the past eight years, it is not surprising that its users have certain complaints about their platform, particularly those of withdrawal. 

This is similar to other brokers as no firm is immune to customer complaints. And it is not impossible that you find various blog articles on the topic or forums where the same issues have been discussed. 

It thereby means that you can efficiently conduct your research about customer reviews or complaints about IQ Option withdrawal problems and find reports from various sources online.

Moreover, as stated by Binary Options Trading Review, one of IQ options staff reported that their customer service unit typically receives withdrawal complaints from their users on a regular basis. It is worthy of note that, although every customer has the right to complain nevertheless, not all complaints are actually “right.” 

To buttress this point, see some screenshots of IQ options customer withdrawal complaints below.

From all the various complaints above, you’d see that some customer complaints are due to ignorance of the company’s withdrawal terms and guidelines. While for some other cases, it’s a result of a few glitches on the part of the company that could be quickly resolved. That being said, there are still some good reviews from some other users about the company, as shown in the images below.

Now, the next question that comes to mind is, should you be worried about this problem? Well, from the last two images above, you’d see that, in spite of the few withdrawal challenges that the company is having, similarly to other brokers, the company still provides quality services to its customers. It would help if you recalled that IQ options have existed for a long time now, and the company has other competitors to deal with. 

Therefore, there’s no reason why the company will deliberately frustrate its customers/users. On the contrary, the company will want to please its users by providing a better platform with an improved user experience. 

However, it doesn’t mean that there won’t be some inconsistencies here and there; it’s a matter of patience and understanding for the users. I would therefore answer your question by saying that you shouldn’t worry about this problem as it’s a general issue.

Some Common Withdrawal Problems

 From the images above, we can summarize the common withdrawal problems as thus:

1. Limited Withdrawal With Bank Card 

The total amount of money you can withdraw cannot be more than your initial deposit with the bank card. For instance, if your initial deposit is $100 and you make a trade with a $50 profit, giving you a total of $150, the maximum amount you can withdraw with your bank card is $100. To withdraw the remaining $50, you’ll have to use other withdrawal options such as Skrill, Neteller, and so on. 

2. Submission Of Documents For Funds Approval

For specific security reasons, the company might request that you provide personal documents to prove ownership of your account before your withdrawal can be approved.

3. Decline Of Withdrawals Associated With VPN Usage

According to IQ options terms and conditions, a user cannot use the platform with a private network (VPN) to prevent multiple users of one account and ensure optimum account safety. When users default to this and place a VPN withdrawal, the request will be seen as various user requests and hence declined.

4. Withdrawal Request Taking Longer Than Expected

IQ options withdrawal is expected to take a few days to process, usually 2 to 3 days. But in some instances, withdrawal is delayed for a week or more. 

What Should You Do Based On The Above Scenarios?

Firstly, based on the above scenarios, ensure that you read through the company’s terms and conditions and guidelines for withdrawal and ensure that you understand in detail. Having a good understanding of how the company operates will help minimize several issues.

Secondly, you need to understand that there’s no “perfect company”. This is to say that, once in a while, you should expect specific issues while using the platform. This will help you exercise enough patience until the customer service representatives resolve the problem.

What if all attempts with the platform’s support don’t work?

When you cannot get a solution via the platform support, available resources include calling an online representative. During the call, you can explain the problem and get appropriate feedback from the online representative.

Another recourse option is sending a direct mail to the support team via the address [email protected] and describing the problem in detail. The IQ option support team will typically reply to your mail within a few days to get more clarifications if need be and begin an urgent investigation to resolve the issue. 

For example, if you have problems with declined withdrawal due to VPN, you’ll have to present a valid means of identification and a few other documents. To verify that you are indeed the owner of the account.

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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