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IQ Option Struggles To Restore Its Reputation In India

IQ Option Struggles To Restore Its Reputation In India

According to media, the IQ Option broker has been accused of cryptocurrency fraud. A class action lawsuit has been filed against him. On Thursday, a court in Delhi has already heard arguments from prosecutors and ordered the publication of an advertisement in local newspapers to invite other victims of the fraud.

“The company offered to deposit from 1 dollar and promised up to 900% profit. At the same time, many clients complained about hidden commissions in the withdrawal of funds in the amount of 2% and delays in payments”, - said the plaintiffs' lawyer Nipun Saxena. In the class action lawsuit, the victims are demanding to ban the operation of IQ Option in India and block all platforms that the company operates in the country.

IQ Option is not going to give up and claims to have over 48 million clients in 189 countries and is committed to honest cooperation. Recall that a company registered in Cyprus is actively working in India, offering its services in Bengali, Hindi and English. “Please note that IQ Option is now clarifying all the details with Indian lawyers. We have never participated in fraudulent schemes”, - said Vladimir Golubev, Head of Strategic Finance and Legal Support at IQ Option.

Do you want to know more about cooperation with a broker? Read the IQ Option review on our portal.

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