Yafee is an independent certified electronic mail service. We are neither affiliated with, nor partners of, nor mandated by Iq Option, whose name is mentioned solely to identify the recipient of your letter. The trademarks and logos cited belong to their respective owners.
Unlimited Yafee Premium: promotional offer at $1.36 for 48h, then $73.99 per month with no commitment
SLMDJTAC
Over 30,000 users trust us
Cancel your subscription
Iq Option in 2 minutes
A 100% personalised cancellation letter, legally compliant and sent by registered mail with acknowledgement of receipt.
GDPR compliant
Your data is secureFast & effective
Processed within 24hResults guaranteed
Refund if refused48h satisfaction-or-refund guarantee
1Letter type
2Your details
3Payment
100% secure payment
They already cancelled Iq Option
Join thousands of satisfied users
SLMDJTAC30K
over 30,000users trust us
How does it work?
Cancel your Iq Option subscription with zero hassle
1
Fill in the form
Give us your details and those of your Iq Option subscription.
2
We write your letter
Our team drafts a 100% personalised, legally compliant cancellation letter.
3
We send it for you
Sent by registered mail with acknowledgement to Iq Option. Nothing else for you to do.
Legal and compliant
Our letters follow consumer law and GDPR.
Fast
Your letter is sent within 24 business hours.
Real-time tracking
Follow your request from your personal space.
Results guaranteed
Full refund if Iq Option refuses your cancellation.
Frequently asked questions
Cancel IQ Option: Step-by-Step Guide
How to cancel your IQ Option account in singapore and secure your trading funds
Why traders cancel IQ Option and what you need to know first
IQ Option is an online trading platform that provides access to forex, stocks, options and cryptocurrencies through both web and mobile applications. Unlike subscription-based services, you incur charges through embedded costs: spreads on currency pairs, swap fees on overnight positions, inactivity penalties, and app-store charges if you downloaded the platform through Apple or Google Play. Before you initiate cancellation, understanding your account structure and any outstanding balances is essential to protect your funds and comply with Singapore's consumer protections. Yafee has guided thousands of traders through this process, and we recommend clarifying your financial position before proceeding.
Common reasons to cancel your account
You may decide to cancel because you have stopped active trading, wish to transfer your funds to another broker, or prefer to reduce your exposure to financial markets. Some traders encounter unexpected inactivity fees or discover that the platform's features do not align with their trading strategy. Whatever your reason, closing your account promptly prevents further charges and ensures your remaining balance remains accessible.
How IQ Option charges accumulate
IQ Option does not operate on fixed monthly subscription fees. Instead, your costs emerge from bid-ask spreads (the difference between buy and sell prices), overnight swap fees for positions held across sessions, and inactivity charges if your account remains dormant for extended periods. If you made purchases or subscribed through the Apple App Store or Google Play Store, those charges operate independently from your trading account and require separate cancellation. Understanding this distinction prevents surprise charges after you believe your account is closed.
Your consumer rights under singapore law
Singapore's consumer protection framework grants you specific rights when closing a trading account, even when the platform does not advertise a formal cancellation procedure. The Consumer Protection (Fair Trading) Act is the primary legal instrument protecting you in this transaction.
Your legal position under the fair trading act
The Consumer Protection (Fair Trading) Act prohibits IQ Option from making misleading claims about fees, charges, or cancellation policies. If you can demonstrate that IQ Option misled you regarding costs or deliberately obstructed account closure, you have grounds to lodge a formal complaint. Your right to cancel is protected even if IQ Option fails to disclose a cancellation procedure, because silence or opacity does not override your statutory right to terminate the relationship. You may escalate unresolved complaints to the Consumers Association of Singapore (CASE) or the Competition and Consumer Commission of Singapore (CCCS). Yafee recommends retaining screenshots, email confirmations and transaction records throughout this process to support any escalation.
When to escalate beyond IQ Option support
If IQ Option does not respond to your cancellation request within 14 days, or if charges continue after you request closure, contact CASE or CCCS immediately. Document every communication: the date and time of your request, the support channel used, any response received, and any unauthorised charges that follow. This evidence is critical if you need to pursue a dispute through Singapore's consumer authority channels. Yafee advises maintaining these records for at least three months after your account is fully closed.
Cancellation methods and which route suits you best
You can close your IQ Option account through three distinct channels: the web platform, the mobile application, or your app-store account settings if you made in-app purchases. Each route serves a different purpose, and you may need to use multiple methods simultaneously to ensure complete closure and prevent residual charges.
Understanding your three cancellation pathways
The web platform provides the clearest audit trail and is the most reliable method for formal account closure. The mobile app offers a faster alternative if you prefer managing the process on your phone, though it may offer fewer account-management options. App-store cancellation (through Apple or Google) is essential only if you subscribed to premium features or made purchases within the app; this step is separate from closing your trading account and must be completed independently. Yafee recommends completing all three steps simultaneously to avoid lingering charges from any single channel.
Why IQ option's cancellation process lacks transparency
IQ Option's public-facing materials do not disclose a formal, step-by-step account closure procedure. This is common among trading platforms regulated in multiple jurisdictions, but it creates friction for you as the account holder. The platform's support team typically handles cancellations on a case-by-case basis, which means your experience may vary depending on who processes your request. This opacity is precisely why documenting your cancellation request in writing is non-negotiable. A written request creates a timestamped record that protects you if charges persist or IQ Option disputes receiving your cancellation notice.
How to cancel IQ Option via the web platform
The web platform is your primary and most formal channel for account closure, offering the clearest documentation trail. Use this method first to establish your intention to cancel on the record.
Step 1: access your account settings
- Log into your IQ Option account on the web version at iqoption.com or your regional endpoint.
- Locate your profile menu, typically displayed in the top-right corner beneath your username, initials, or avatar icon.
- Click or tap to open the profile menu and search for options labelled "Settings", "Account Settings" or "Profile".
Step 2: navigate to account closure or deletion options
- Within Account Settings, look for sections titled "Close Account", "Delete Account", "Account Closure" or "Deactivate Account".
- If this option is not immediately visible, check under "Privacy" or "Security" tabs, as some platforms consolidate account-termination features there.
- If you cannot locate the option, proceed immediately to Step 4 (Contact Support) rather than deleting individual app data, which does not terminate your account.
Step 3: confirm your balance and withdrawal before closure
- Before finalising closure, verify your current account balance on your dashboard or in the "Portfolio" or "Wallet" section.
- If funds remain, initiate a withdrawal to your registered bank account or payment method before closing the account.
- Navigate to "Withdraw" or "Withdrawal Request" in your account menu.
- Select your preferred withdrawal method and enter the amount (typically you can withdraw your full balance).
- Confirm the transaction and note the withdrawal reference number.
- Wait for the withdrawal to complete (typically 3-7 business days) before proceeding to account closure. Yafee strongly advises against closing your account while funds remain locked in pending withdrawal.
Step 4: submit your account closure request
- Once any withdrawal is processed, click "Close Account" or the equivalent button you identified in Step 2.
- IQ Option may present a confirmation dialog asking your reason for closure and offering retention incentives. You are not obligated to engage with these; you may simply confirm your intent to proceed.
- If a final confirmation button appears, click it to submit your closure request.
- Screenshot or save the confirmation screen, which should display a reference number, timestamp, or confirmation message.
Step 5: contact support to confirm closure
- After submitting your web closure request, contact IQ Option support via the in-platform chat or help portal to confirm receipt of your request.
- Provide your account email address and the closure confirmation reference number from Step 4.
- Request written confirmation that your account is scheduled for closure and ask when you should expect final confirmation.
- Retain this support conversation as evidence of your cancellation request.
How to cancel IQ Option via the mobile app
The mobile app provides a faster alternative to web cancellation, though the process may vary depending on whether you use iOS or Android. You should use this method as a secondary confirmation of your cancellation intent.
Step 1: open your profile and locate settings
- Launch the IQ Option mobile app and log in with your registered credentials.
- Tap the profile icon, typically located in the bottom-right or top-left corner of the screen.
- Scroll down and select "Settings" or "Account Settings".
Step 2: find and select account closure option
- Within Settings, search for "Close Account", "Delete Account" or "Account Closure".
- If the option appears, tap it and confirm your intent to close.
- If you do not see this option on the mobile app, use the web method (Step 2 above) as your primary cancellation channel.
Step 3: screenshot your confirmation
- After confirming closure, immediately take a screenshot of the confirmation message, which should include a timestamp and reference number.
- Save this image securely; you will need it if you must escalate your cancellation to CASE or CCCS.
How to cancel app-store subscriptions separately
If you subscribed to premium features through the Apple App Store or Google Play Store, you must cancel those subscriptions independently. Closing your IQ Option trading account does not automatically cancel app-store charges, and the reverse is also true.
Cancelling on apple app store (iOS)
- Open the Settings app on your iPhone or iPad.
- Tap your Apple ID at the top, then select "Subscriptions".
- Find "IQ Option" in your active subscriptions list.
- Tap "IQ Option" and select "Cancel Subscription".
- Confirm the cancellation and screenshot the confirmation screen showing the cancellation date.
Cancelling on google play store (Android)
- Open the Google Play Store app and tap your profile icon (top-right).
- Select "Payments and subscriptions", then "Subscriptions".
- Find and tap "IQ Option".
- Select "Cancel subscription" and confirm.
- Screenshot the cancellation confirmation showing the date your subscription ended.
Understanding IQ option's charges and refund eligibility
IQ Option's fee structure and refund policy operate within the context of financial trading, where the treatment of funds differs from conventional consumer subscriptions. Your eligibility for a refund depends on the type of charge and whether you can demonstrate a breach of Singapore's consumer protection law.
Charges you cannot recover
| Charge type | Recoverable? | Reason |
|---|---|---|
| Spreads (bid-ask difference) | No | This is the legitimate cost of executing trades; you bear this risk in financial trading. |
| Swap fees (overnight holding charges) | No | These reflect the cost of borrowing capital; they are applied only when you hold positions overnight. |
| Trading losses | No | Financial losses from your trading decisions are your responsibility, not IQ Option's. |
| Inactivity fees | Possibly | If IQ Option did not disclose these clearly before you incurred them, you may dispute them through CASE. |
| App-store subscription charges | Yes (if cancelled within 14 days) | Apple and Google offer a 14-day refund window for app subscriptions if you request a refund within that period. |
How to request a refund for inactivity or misleading charges
- Contact IQ Option support directly via the in-platform chat and describe the charge you dispute (e.g., "I was charged SGD 10 inactivity fee on [date], but I did not receive clear notice of this policy beforehand").
- Request a full account statement showing all charges over the past 12 months.
- If IQ Option refuses to refund, contact CASE with your account statement, screenshots of the charge and your communication with IQ Option.
- CASE will evaluate whether IQ Option breached its obligation to disclose fees transparently under the Consumer Protection (Fair Trading) Act.
Requesting app-store refunds
- If you subscribed through Apple App Store, visit appleid.apple.com, sign in, select "Media and Purchases", then "Account" > "Purchase history". Locate the IQ Option charge and click "Report a Problem". Select "I would like a refund for this purchase" and follow the prompts. Apple typically processes refund decisions within 48 hours.
- If you subscribed through Google Play, open the Play Store app, tap your profile icon, go to "Payments and subscriptions" > "Purchase history", find the IQ Option charge, tap "Report a problem" and request a refund. Google typically responds within 24-48 hours.
- Refunds are guaranteed only if you request them within 14 days of the charge. After 14 days, approval depends on Google or Apple's discretion.
What happens after you cancel your IQ Option account
Cancellation does not occur instantaneously; there is typically a processing period during which your account transitions from active to closed. Understanding this timeline protects you from surprise charges and clarifies when you should expect final confirmation.
The post-cancellation timeline
After you submit your cancellation request via the web platform or app, IQ Option typically requires 3-7 business days to process your request. During this window, your account may remain partially active while the platform processes pending withdrawals and settles any outstanding positions. You should not initiate new trades during this period; instead, ensure all open positions are closed and all funds are withdrawn. Within 14 days of submitting your cancellation request, you should receive an email confirmation stating that your account is now closed. If you do not receive this confirmation by day 14, contact IQ Option support immediately to verify closure status. Yafee recommends setting a calendar reminder for day 12 if you have not yet received confirmation.
Monitoring for unauthorised charges after closure
- For 30 days after your account closure confirmation email, review your bank or payment-method statements weekly to ensure no further charges appear.
- If a charge appears after your closure confirmation, take a screenshot immediately and contact your bank or payment provider to dispute the transaction as unauthorised.
- Simultaneously, escalate the matter to CASE, providing your account closure confirmation email and the screenshot of the unauthorised charge.
- If the charge originated from your app-store subscription, contact Apple or Google directly to dispute it as a unauthorised recurring charge after cancellation.
Common mistakes that delay or prevent cancellation
Cancellation is straightforward if you follow the correct sequence, but common errors can cause delays, residual charges, or account reactivation. The good news: each mistake is easily avoidable with advance planning.
Mistake 1: closing the app without submitting a formal cancellation request
Deleting the IQ Option app from your phone does not close your trading account. Your account remains active on IQ Option's servers, and you remain liable for any inactivity fees or other charges. You must submit a formal cancellation request through either the web platform or in-app settings. Yafee cannot stress this enough: app deletion and account closure are two entirely separate actions.
Mistake 2: failing to withdraw your balance before submitting closure
If you close your account while funds remain in your trading balance, those funds may become inaccessible or subject to prolonged processing delays. Always withdraw your full balance to your registered bank account before submitting your account closure request. Verify that the withdrawal has been completed (typically 3-7 business days) before proceeding with closure.
Mistake 3: ignoring app-store subscription cancellation
Closing your IQ Option trading account does not cancel app-store subscriptions. If you subscribed to premium features through Apple or Google, those charges will continue even after your account is closed. You must independently cancel your app-store subscription through your device's settings or account dashboard. Check your statement 30 days after account closure to confirm that app-store charges have ceased.
Mistake 4: not documenting your cancellation request in writing
If you verbally request cancellation through the in-app chat but do not follow up with a formal web-based closure request, IQ Option may not process your request or may claim no record exists. Always use the platform's formal account-closure feature (accessible via Settings) and follow up with support in writing (via email or recorded chat) to confirm receipt. Screenshots and confirmation reference numbers are your evidence if a dispute arises.
Mistake 5: failing to escalate if IQ Option does not respond within 14 days
IQ Option's support team is not always responsive. If your cancellation request is ignored for more than 14 days, do not assume your account will close on its own. Contact CASE or CCCS and file a formal complaint with evidence of your cancellation request and IQ Option's non-response. This action creates a paper trail and may prompt IQ Option to prioritise your case.
Pricing and fee comparison table
IQ Option's cost structure is distinct from subscription-based platforms. The table below breaks down where your trading costs originate and what you might compare against alternative brokers.
| Fee type | Typical cost (SGD) | When charged | Avoidable? |
|---|---|---|---|
| Spreads (forex) | 0.3-3 pips per trade | On every trade execution | No (inherent to trading) |
| Swap fees (overnight) | 0.5-5 SGD per contract, per night | When you hold positions overnight | Yes (close positions before market close) |
| Inactivity fee | SGD 5-10 per month | After 90 days of no trading activity | Yes (log in or place a trade monthly) |
| App-store subscription (optional premium) | SGD 4.99-9.99 monthly | Monthly or annual (recurring) | Yes (cancel via app-store settings) |
| Account closure | Free | On demand | No, but available anytime |
Checklist: cancelling IQ Option safely and completely
Use this checklist to ensure you have completed every step of the cancellation process and protected yourself against residual charges or account reactivation.
- ☐ Verify your current account balance via the dashboard or "Wallet" section.
- ☐ Close all open trading positions (if any) to prevent overnight swap fees.
- ☐ Initiate a withdrawal of your full balance to your registered bank account.
- ☐ Wait for the withdrawal to complete (typically 3-7 business days) and verify funds arrived in your bank account.
- ☐ Log into the web platform and navigate to Settings > Account Closure or equivalent.
- ☐ Click "Close Account" and screenshot the confirmation screen (note the reference number and timestamp).
- ☐ Contact IQ Option support via in-app chat to confirm receipt of your closure request. Copy the entire conversation or take screenshots.
- ☐ If you have an app-store subscription (iOS or Android), cancel it independently through your device settings.
- ☐ Set a calendar reminder for day 12 after closure to verify that a closure confirmation email has arrived.
- ☐ For 30 days after closure, monitor your bank statement weekly for any unexpected charges.
- ☐ If charges appear after closure, immediately dispute them with your bank and escalate to CASE with screenshots as evidence.
- ☐ Retain all screenshots, confirmation emails and bank statements for at least three months.
When to contact CASE or CCCS and how to file a complaint
If IQ Option refuses your cancellation request, charges you after closure, or becomes unresponsive, Singapore's consumer authorities are your formal recourse. Understanding when and how to escalate protects your rights and applies pressure to IQ Option to comply with the Consumer Protection (Fair Trading) Act.
Escalation trigger points
- IQ Option does not respond to your cancellation request within 14 days.
- IQ Option charges your account after you submit a written cancellation request.
- IQ Option claims no record of your cancellation request, despite screenshots or confirmation reference numbers.
- An inactivity fee was charged without adequate prior disclosure of the fee or policy.
- IQ Option refuses to refund a charge you dispute as unauthorised or misleading.
How to file a complaint with CASE
- Visit the Consumers Association of Singapore website (case.org.sg) and navigate to the "File a Complaint" section.
- Gather your evidence: account closure confirmation screen, withdrawal confirmation, support conversation screenshots, any unauthorised charges from your bank statement, and IQ Option's responses (or lack thereof).
- Complete CASE's online complaint form, providing your full account details, IQ Option's response timeline, and a clear description of the issue (e.g., "I requested account closure on [date], provided a reference number, but continue to be charged inactivity fees").
- Upload all supporting documents as PDF or image files.
- CASE will contact IQ Option on your behalf and mediate a resolution. Most cases are resolved within 30 days.
- If mediation fails, CASE can refer your case to the CCCS or recommend small-claims litigation if the amount justifies it.
How to escalate to the CCCS
The Competition and Consumer Commission of Singapore (CCCS) handles cases where consumer protection laws are systematically breached. If IQ Option's cancellation obstruction affects multiple consumers or appears to be a pattern of non-compliance, the CCCS may open an investigation. Submit a complaint via the CCCS website (cccs.gov.sg) if CASE mediation has failed or if you suspect systemic misconduct. Provide the same evidence package as you would to CASE, emphasising how IQ Option's conduct violates the Consumer Protection (Fair Trading) Act.
How to cancel IQ Option and move your funds to another broker
If your reason for cancelling is to switch brokers, plan your exit strategically to minimise downtime and avoid overlapping charges. The process differs slightly from simple account closure because you must coordinate timing between your old and new accounts.
Choose your next broker before closing IQ Option
- Research alternative brokers regulated by Singapore's Monetary Authority (MAS) and offering the same asset classes and trading conditions you require.
- Open and verify your account with the new broker before you initiate cancellation with IQ Option. This prevents a gap in trading access if you need to move urgently.
- Deposit initial capital with your new broker to confirm the deposit and withdrawal process works.
Withdraw from IQ Option in advance of closure
- Close all open positions on IQ Option to prevent unintended losses or overnight fees while funds are in transit.
- Initiate a withdrawal of your full IQ Option balance to your registered bank account. Do not withdraw directly to your new broker's account, as IQ Option may not support third-party transfers.
- Allow 3-7 business days for the withdrawal to clear.
- Once funds arrive in your bank account, transfer them to your new broker's account.
- Verify that the new broker has received the funds before proceeding to cancel IQ Option.
Submit your cancellation request after funds are secured
- Only after your funds have successfully settled in your new broker's account should you submit your IQ Option account closure request.
- Follow the web-based cancellation process described in Section 3 ("How to cancel IQ Option via the web platform").
- Retain all closure confirmations and monitor for any residual charges for 30 days.
Frequently made assertions and why they are incorrect
Several myths circulate about IQ Option's cancellation policy, and acting on these myths can delay your exit or leave you vulnerable to ongoing charges. Yafee has debunked the most common misconceptions below.
Myth: "I can just delete the app and my account closes automatically"
False. Deleting the app from your device does not close your account. Your account remains active on IQ Option's servers, and you remain liable for inactivity fees and other charges. You must submit a formal cancellation request via the Settings menu or by contacting support.
Myth: "IQ Option will close my account after 90 days of inactivity"
False. IQ Option does not automatically close inactive accounts; instead, it charges you an inactivity fee. To close your account, you must take active steps to cancel it. Relying on inactivity to trigger closure will result in mounting fees, not account closure.
Myth: "My bank can reverse all charges once i dispute them"
Partially false. Your bank can reverse unauthorised or fraudulent charges, but it cannot reverse legitimate trading costs like spreads or swap fees, which you incurred voluntarily. Your bank can dispute inactivity fees or app-store subscription charges if you can demonstrate they were misleading or not clearly disclosed. Provide your bank with documentation showing IQ Option's fee disclosures (or lack thereof).
Myth: "Closing my app-store subscription cancels my trading account"
False. Cancelling an app-store subscription (through Apple or Google) only stops premium feature charges. Your trading account remains open, and you may still incur inactivity fees. You must separately cancel your trading account via the web platform or in-app settings.
Your next steps: cancel safely with yafee's guidance
Closing your IQ Option account is a straightforward process if you follow the sequence outlined in this guide. Begin by withdrawing your full balance, submit a formal cancellation request via the web platform, independently cancel any app-store subscriptions, and then monitor for unauthorised charges over the following 30 days. If IQ Option becomes unresponsive or continues charging after closure, escalate to CASE or the CCCS with your documented evidence. The Consumer Protection (Fair Trading) Act protects you throughout this process; you are not obligated to accept delay, obstruction or misleading practices.
Yafee has helped thousands of consumers cancel trading platforms and financial services accounts safely and completely. Our step-by-step approach ensures you leave no residual charges, retain a clear audit trail, and know exactly when to escalate if the platform fails to respond. Start with the web cancellation process today, follow the checklist provided above, and refer back to this guide if any unexpected charges or delays occur. Yafee is committed to ensuring your cancellation is processed quickly, transparently, and in full compliance with Singapore's consumer protection law. If you encounter resistance from IQ Option or need guidance navigating CASE's complaint process, Yafee is here to support you through every step of the cancellation journey.
Important warning
- Yafee cannot guarantee that the recipient will process your request.
- Yafee cannot guarantee the accuracy of content modified by the user.
- Yafee cannot prevent the recipient from disputing the legal scope.
Similar cancellation services
This letter is also available in other countries
Ready to cancel Iq Option?
Join over 30,000 users who already trust us.