IQ Option Blocked Account
Whether your IQ Option trading account is blocked, or you're a trading aspirant who wants to prevent getting blocked, read on to find out all there is to know about IQ Option blocked accounts.
IQ Option is a renowned and reliable broker for binary and digital trading options. The platform also allows trading stocks, forex, ETFs, and commodities. It's a platform fit for both amateur and expert traders, giving them a broad choice of trades to dabble in. Moreover, it's a renowned platform, trusted worldwide with more than 15 million registered users.
From this, you can deduce that IQ Option will only block an account when a user violates the platform's terms and conditions. The platform will also send a message to your registered email, giving you the details of the block.
What could be the reason your IQ Option trading account has gotten blocked? Let's get into it.
Reasons for IQ Option Account Blocked
Various breaches of the client agreement can lead to your IQ Option account getting blocked. Here are six reasons your account may be restricted from trading on IQ Option:
1. Using Someone Else's Payment Details
It's vital to deposit and withdraw money exclusively with the payment modes in your name. If you're moving money using another's information, it may be considered money laundering.
No matter if you're using the payment information of your spouse, parent, or sibling, your account will likely be blocked. Remember, forex traders on IQ Option are only allowed to use modes of payment that are registered under their name.
If you have unknowingly used someone else's payment account to deposit or withdraw money from IQ Option, you can try submitting the owner's ID and bank proof to the company. However, this doesn't guarantee getting unblocked since the final decision is up to the platform's KYC department.
To sum up, only use bank cards or eWallets in your name to deposit and withdraw. By doing so, you can avoid getting your IQ Option account blocked.
2. Suspicious Transactions
If the compliance department of IQ Option detects any suspicious transactions on your account, they will unhesitatingly block it to keep your funds safe.
Once blocked, you'll be asked to confirm whether you performed the suspicious activity. If not, your account was likely hacked, and IQ Option was successful in saving you from potential losses.
If the dubious operation was of your own volition, you'd be able to get your account unblocked smoothly by following the steps given in the email IQ Option will send to notify you.
Blocking your account, for this reason, is a method IQ Option uses to keep your money and the platform safe from hackers and scammers. If your trading account was restricted because of this, you could rest assured you'll get your account back.
All you need to do is provide the company with account ownership proof.
3. Owning More Than One Account
According to Article 4.2.7 of IQ Option's Terms and Conditions, users are only allowed one trading account. Having multiple accounts under your name will inevitably lead to suspension.
The forex broker has absolute authority to get the accounts blocked for the breach of their policy. If your accounts are blocked because of this, it's near impossible to get them back.
Note that this doesn't refer to the demo account provided by the platform. The demo account is a feature that helps online trading beginners get familiar with IQ Option's interface. This is done by providing the user with $10000 worth of dummy money to try trading without any risks. You can switch between a demo and a real account from one login in IQ Option. The only difference is that the real account requires you to deposit actual money in IQ Option to start trading for real.
This is to say, the demo account feature is but a component of an actual IQ Option account, which is why this reason isn't applicable here.
4. Submitting False Information
When the trader intentionally submits false information about their personal details, their account will be blocked.
For example, a minor may lie about their date of birth to be able to trade on IQ Option. It would count as deliberately providing false information, and the account will be blocked once found out.
If you're a minor wanting to partake in trading, you can use IQ Option's demo account feature to practice before you come of age to trade legally. Spend time learning about the market, reading books, attending webinars, and going through the educational videos uploaded by IQ Option. This will help you get ready for your binary and forex trading adventures once you're old enough.
In other cases, people may register accounts with the names of their family or friends. Only the person whose name is linked to the account is allowed to operate the platform through it. If encountered otherwise, the account will be blocked.
5. Not Submitting Documents Needed for Verification
If the user downright refuses to provide their documents for the account and identity verification in IQ Option, their account is put on hold and then blocked.
This may happen in instances where the user doesn't have the proper documents necessary for verification. To give you a rundown, here is a list of papers you need:
- Identity verification (Aadhar card, passport, driver's license)
- Proof of residence (electricity bill, bank statement
Note: In case your deposit was made with a bank card, you'll also have to provide a scan of your card (barring the CVV and the middle 8 numbers).
Thus, ensure you have all the documents required before you start trading on IQ Option. Doing this will ensure you get to withdraw your money from IQ Option.
6. Trading from Banned/Restricted Countries
IQ Option is a platform that continuously strives to provide monetary value to its clients across the globe in numerous countries.
However, not all countries support IQ Option. If you're a citizen or resident of Australia, Belgium, Iran, Israel, Japan, North Korea, Sudan, Syria, or the USA, your account will be blocked.
This is due to the countries prohibiting binary options trading.
If you're in a restricted country traveling for work or vacation, take care to avoid trading for the time being to become a victim of any complications. A few days without trading is definitely better than a potential block.
How to Unblock IQ Option Account?
To unblock your IQ Option account, try either of these methods to see what works for you:
Keep in mind that IQ Option doesn't block accounts for no reason. That would be illegal and get their operation suspended. They block accounts rarely and for serious reasons.
Let's expand on the solutions mentioned above:
1. Check Login Credentials
Ensure that you're entering the correct login and password. It may seem elementary, but as said before, IQ Option doesn't block without proper justification. So, if you haven't come across an email from them explicitly explaining the account is blocked, it's probably just a mistake on your part.
Therefore, most times, it'll just be the user misremembering or entering the details wrong. This is why it's vital to review your login credentials.
2. Check Email/Spam for Any Action Required
If your account is indeed blocked, you'll be notified by IQ Option on your registered email. The email will tell you why your account was suspended and the actions you can take to get it back up and running. If you don't find the email in your inbox, try looking for it in your spam.
On that note, keep in mind that this email will come only from IQ Option's official email ID, so please take care not to click on any links from suspicious emails claiming to be IQ Option. These suspicious emails are likely an attempt to hack into your account funds and investments.
That aside, you'll only be provided with actions to be taken if your account is redeemable. If you have violated the platform's policies, getting your account back isn't likely.
3. Contact Support
If you haven't received an explanation email and are still unable to log in to your account with proper credentials, you can contact IQ Option's support team.
The support team acts quickly and is reliable. They will find a solution to your problem as long as your actions are legal. However, whether you get the account back or not rests solely with the company. If IQ Option has deduced you went against their policies; you won't get it back.
IQ Option's customer support is available 24/7, so you don't have to worry about pesky time zones. You can email the team at firstname.lastname@example.org or call them on their phone number.
Emails can take a while to get a response, so if your situation is urgent, consider calling their support team for a quicker solution.
Unfortunately, IQ Option doesn't have an India specific phone number, but you can still reach them through their UK hotlines:
FAQs on IQ Option Blocked Account
Here are some important questions and facts to help you out with further information related to IQ Option Blocked and How to Getting it Unblocked.
If your account is blocked, you won't be able to log in to your account, and you will have received a notification suggesting the same on your registered email.
The email will come only from IQ Option's official email ID, so be careful not to click on suspicious links.
No, your account won't be blocked for making big profits. IQ Option doesn't block accounts for any reason other than the violation of their terms and conditions or suspicious activity.
It won't make sense for them to block the accounts of their loyal clients in any way. Profits for their clients are equivalent to revenue for themselves.
You can trade, but only with dummy money using IQ Option's demo account feature. This provides you with $10000 of dummy money to test out everything the platform offers.
This is a risk-free way to learn about trading on the platform and gain experience. Moreover, operating a demo account requires no deposits - it's completely free!
However, if you try to trade in a real account, you'll be blocked as minors cannot legally trade.
Absolutely. Suspicious activity isn't a violation of IQ Option's policies. The account is only blocked to keep your funds safe.
If you follow the steps instructed in the notification email, you'll get your account back readily. You'll need to prove you're the actual owner of the account by sending your documents for verification.
If you didn't do the suspicious activity, immediately contact the support team and change your password.
If you encounter an email like this, immediately report it to IQ Option.
This email is likely fraudulent. Emails notifying you about your account being blocked will come only from the official email ID of IQ Option.
Reporting will ensure strict action is taken against the perpetrator. Make sure to not click on any links or give out any information.