There are many reasons for deleting the IQ Option Account. Often it is because the trader wants to temporarily stop trading binary options. Or he needs a break. Rarely is it because customers are dissatisfied with the binary options broker and therefore want to cancel their IQ Option account.
Why should I delete the IQ Option account at all leave? After 90 days, the provider charges an inactivity fee of 50 euros per year. So it can make sense to have your IQ Option account canceled and open a new one later.
About IQ Option: www.iqoption.com
How can I change my IQ Option Have account deleted?
To have the IQ Option Depot deleted, the following steps or options are advisable:
- Write an email to customer support, with the request for account deletion
- In the email or alternatively a fax, a termination letter with signature could be attached
- All important information must be contained in the letter of termination
- telephone account deletions are not recommended
- have the account termination confirmed
- beforehand all relevant documents must be available to the broker
- if necessary, have the entire balance paid out beforehand
- Alternative: Withdraw money - account is automatically deactivated after 90 days
What should I watch out for when canceling the IQ Option account?
IQ Option account deletion is possible via customer support. It is usually completed in a few minutes. It should be noted that it should preferably be made in writing, by e-mail or fax. A letter is also possible, but probably unusual at the present time. It also takes far too long because the broker is based in Cyprus. If you want, write a letter of termination, scan it and send it as an attachment to an email. A cancellation by telephone is also possible, however we advise you to cancel in writing. Otherwise the trader has no confirmation. It would only be conceivable for an immediate confirmation of the account deletion via email.
The confirmation of the IQ option account termination should also be requested in the letter. Our IQ Option experience shows that the provider usually complies with this without being asked to do so. Of course, all important information must be included in the cancellation. In addition to the name and address, this also includes the IQ option account number, the stored email address and - if a positive return * has been incurred - an account number of the house bank to which the broker should transfer the payment.
All important documents must already be available
As an IQ option account deletion is accompanied by a payment, various documents must be available from the broker. So if a trader is made aware of this by IqOption, it is in no way because the payment should be delayed or prevented. Rather, there are statutory provisions that oblige the company to determine the exact identity of the customer. This also protects the trader from criminals who may have acquired the IQ Option account data and are now deleting or paying out an account.
Specifically, the following documents must be submitted to the provider:
- Copy of identity card or passport (front & back)
- Copy of the credit card used to make the deposit (if available)
- Proof of residence, for example using a Bank statement or electricity or water bill etc.
In contrast to a German bank, with the online broker IqOption no post-ID or video ID has to be carried out in order to process a payment. The proof of identification can be sent to the company by email. If a deposit has been made with a credit card, the maximum amount that can be transferred to the credit card that was previously paid in can be transferred back to the credit card. A copy of the credit card (Visa or Mastercard) must be sent to IQ Option. The first 8 digits on the front and the 3 numbers of the check digit may be blackened. All others must remain visible.
In order to confirm the place of residence, an invoice from a public utility company is also required in addition to the identity card. This can be an electricity, water or internet bill. A bank statement, on which the current address can be seen, is also possible.
An IQ option payment can only be carried out after the customer's customer identification has been completed. If the first payment coincides with the account deletion, our IQ Option test report shows that both are done in one step.
HOW TO CLOSE ACCOUNT ON IQOPTION
Inactivity fee after 90 days
Having the IQ Option account deleted, can also make sense for financial reasons. If there is no movement in the account within 90 days, i.e. no trades are made online, a fee will be charged. The so-called inactivity fee is charged annually and amounts to 50 euros. This means that the binary options broker is still comparatively cheap, but there is no need to pay such a fee. If there is no credit left on the account, these costs do not apply, but the account is automatically set to "inactive".
This option is an alternative to the classic IQ option account deletion. Instead of writing to support, customers can request payment of their full credit online. If all documents are available, this will be done within a few days. After a further 90 days, the online broker will set the account to "inactive". If there is no credit, there will be no costs. The account can only be reactivated via customer service. However, it may be that IqOption deletes the account on its own if there is no message from the customer that they want to use the account again.
FAQs about the IQ Option account cancel
first How can I have my IQ Option account deleted? We recommend closing an IQ Option account by email to customer service. In the email you can ask for the deletion of your account and give the account number to which the capital should be transferred. If you have used a credit card for the deposit, only a payment can be made to the credit card. Amounts beyond this can only be transferred to a bank account. Note that various documents must be available from the broker beforehand. There could also be fees for the payment, the broker's terms and conditions regulate.
2. Which documents are required for an IQ Option Account termination? For this you need the same documents as for a regular payment: ID card or passport and proof of your residence, based on a water or electricity bill or a bank statement. If you have made a deposit by credit card, you also need a copy of your credit card. You can email the documents or copies to support.
3. How long does it take to close an account at IQ Option? The time depends, among other things, on when you submit the necessary documents. If these have already been submitted, employee will respond to your request within a few hours. The duration of the payment depends on the account type and payment method. Credit card payments are usually faster than bank transfers.
4. What does an IQ Option account termination cost? Having the IQ Option account deleted does not involve any fees. However, there may be costs associated with the payment. Details can be found in the broker's terms and conditions, which can be viewed on the website.
5. Can I leave my IQ Option alone? Yes, it is possible. However, the binary options broker charges an inactivity fee of 50 euros annually if you no longer trade online within 90 days. If there is no credit left in your account, your deposit will be "inactive". There are no fees.
6. Can I reactivate my account? This depends on the status of your account. Have you already canceled your IQ Option account? You can then cancel the cancellation as long as it has not yet been closed. However, if you have not applied for a closure and have not carried out an online trade for more than 90 days, you must contact customer service. This can reactivate your account. If it has already been closed, it can no longer be reactivated.
7. Can I open a new IQ Option account at any time? Of course. This is possible at any time and free of charge.
To IQ Option: www.iqoption.com
8. What happens to my IQ Option demo account if I close my real money account? The test account is also closed automatically. It is not possible to just close the real money account and keep the demo account running. However, if you absolutely want this, you should specifically contact customer support.
9. I just want to delete my IQ Option demo account - is that possible? Yes, this is possible. If you only have a demo account, write an informal email to IqOption. If you also have a real money account and only want to close the test account, you can also contact support. However, this makes no sense, since the demo account does not incur any costs.
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Conclusion: IQ option account termination is in a few Minutes done
IQ Option stands for excellent customer service. Even if you want to delete your IQ Option account, it is possible. We recommend that you write an email to support. This will immediately comply with your request. However, please note that all necessary documents must be submitted. If this is not yet the case, you will be informed.
If you wish, you can open a new free IQ Option account at any time. Or do a binary options broker comparison to find a new provider.
To IQ Option: www.iqoption.com
* = the amount that will be credited to the trading account when the trade passed successfully.