IQFXTrade

IQFXTrade offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.

This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.

After doing some research AFTER the fact (I know, I should have done this first), I discovered that IQFXTrade is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.

The platform itself is okay, but the customer service at IQFXTrade is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.

The onboarding at IQFXTrade was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.

I was contacted by IQFXTrade through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.

After seeing ads for IQFXTrade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Commodity Futures Trading Commission. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.

The spread at IQFXTrade is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a blog post comparing services and initially thought the platform was good - until I started trading seriously.

Do not use IQFXTrade for anything serious. I used them for the past year and a half for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.

I referred a friend to IQFXTrade after attending a webinar they hosted. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.