Trader youtuber is a longtime critic of IQ Option and says he is a backyard broker
“I always said that IQ Option is a‘ backyard broker ‘and has now been proven to you. ” The phrase is by Robson Hayashida, the ‘Japa Rico’, when commenting on the CVM’s decision on Thursday (23) that prohibits the brokerage firm from operating in Brazil.
Hayashida is a longtime critic of IQ Option, as shown by some videos on his YouTube channel called “Japa Rico in Hong Kong“.
Experienced and with more than 100 thousand followers, Japa Rico, now called Japa Trader, is well known on social networks. About IQ Option, he always spoke openly that there was no reason for him to create an account on the platform.
Furthermore, he never spared her criticism. When reading the news report first hand by the Bitcoin Portal, he maintained his position in relation to the broker.
Between criticism and criticism, he said that he always warned his followers to operate only in regulated brokers, so as not to risk losing everything.
After the CVM’s decision, he suggested that IQ Option’s clients withdraw their funds as soon as possible.
“I have never traded at a brokerage house on one of these islands in the Caribbean because it has no protection,” said the trader who claims to live off trading for more than 20 years.
Trader criticizes IQ Option
In one of his videos – entitled Why binary options are a big bore! fraud part 1 -, Japa Rico comments on the platform system.
At the time, in September 2018, he said that he saw no reason to operate on the platform, which he called “major fraud”.
“How do I make money by trading in a binary option?”, He asked. “The answer is: there is no way,” he said, stressing that anyone who thinks that the binary option is better is wrong.
In this type of option, the operator ends up inserting yet another uncertainty in the trading, that is, a binary option does not protect the investor. “It’s unprotecting you; worse for you ”.
Brokers don’t pay
In February of last year, Japa Rico explained better why he abhorred IQ Option:
“It has no appeal, people. It is a registered broker in the Republic of (New) Granada, which has virtually no legislation; the brokers there do what they want; make the party ”.
He never even tried to open an account himself. But, as he learned from his professional trading friends, many people who invested in IQ Option did not receive it, but who also knew that some did.
Japa Rico leaves a piece of advice: “Don’t open an account that your budding friend has opened. Especially those that have an affiliate link ”.
According to several videos from the Japa Rico channel, the trader also spares no words when it comes to defending his profession – even more so if the subject is about a dubious business.
His criticisms, therefore, are not only to alert investors, but also to defend the trader profession.
And this he takes very seriously – to the point of threatening to sue Unick Forex because it has tarnished the image of Brazilian traders.
Another point is the criticism of adventurers on duty, who he doesn’t even call traders, but ‘kids’, for leaving talking about trading without mastering resources or even the terms.
This, he said, is more for them to earn money by selling courses and feeling in a position to teach someone.
CVM barred IQ Option
On Thursday (23), the Brazilian Securities and Exchange Commission (CVM) ordered the company IQ Option Ltd to stop attracting clients in Brazil for investments in Forex under penalty of a daily fine in the amount of R $ 1,000.
Hours after the report Bitcoin Portal, the company showed signs that it will face the regulatory body.
Asked by several customers on the platform chats, IQ Option said it was already aware of the notification.
In addition, he stated that the CVM restriction was only about marketing, not trading – a strategy similar to that adopted by Atlas Quantum.