IQCent ReviewCategory: Reviews | Author: Trading Brokers | Date: September 9, 2023
If you’re on the hunt for a trading platform that caters to a wide range of assets, including stocks, indexes, and cryptocurrencies, then IQCent may have crossed your radar. IQCent markets itself as a user-friendly and accessible online trading platform, allowing you to trade conveniently from virtually anywhere using any device. Beyond trading, IQCent offers features like copy trading, competitive leverage, speedy withdrawals, and enticing bonuses. All of this sounds promising, right? However, before taking the plunge, you probably want to delve deeper into what IQCent has to offer. Is it a trustworthy and secure broker? How does it measure up against its competitors? What are the pros and cons? In this article, we’ll provide you with a comprehensive overview of IQCent, covering aspects such as its regulatory status, available platforms, educational resources, offered markets, account types, and funding options. By the end, you’ll have a clearer picture of IQCent.
Pros & Cons
- Proprietary platform that supports 24/7 trading on any device Features such as copy trading, contests, and marketplace
- High payout boost of up to 1%
- Wide range of assets, including stocks, indexes, cryptocurrencies, and more
- Limited selection of stocks, indices, and commodities
- Not regulated by any U.S.-based regulatory body
- Does not accept U.S. customers Fees and commissions for deposits and withdrawals
IQCent is an online trading platform that allows you to trade various financial instruments, such as stocks, indexes, cryptocurrencies, and more. It claims to offer a user-friendly and innovative platform that supports 24/7 trading on any device. It also boasts features such as copy trading, high leverage, fast withdrawals, and bonuses. However, it is not regulated by any U.S.-based regulatory body and does not accept U.S. customers. It has a low minimum deposit of $50 and three types of accounts: Bronze, Silver, and Gold. IQCent has mixed customer reviews, with some praising its services and others complaining about its fees, withdrawal delays, and customer support. IQCent is suitable for traders who are looking for a wide range of assets, low trading costs, and high leverage. However, it also involves a high level of risk and uncertainty due to its lack of regulation and transparency.
IQcent is not regulated by any official authority or organization. However, it claims to be a member of the Financial Commission and the International Financial Market Relations Regulation Center (IFMRRC), which are non-commercial organizations that provide dispute resolution services and compensation for eligible clients. However, these organizations are not reputable or strict regulators by international standards, and they may not offer adequate protection or security for traders or investors. Therefore, trading with IQcent may entail higher risks and lower protection than trading with a regulated broker.
Platforms & Tools
IQCent has its own proprietary trading platform that is web-based and does not require any download or installation. The platform is compatible with all types of devices, including desktops, laptops, tablets, and smartphones. The platform has a simple and user-friendly interface that allows traders to access various financial instruments, such as stocks, indexes, cryptocurrencies, and more.
The platform also has some advanced features that can enhance the trading experience and performance of traders. Some of these features are:
- Copy trading: This feature allows traders to follow and copy the trades of other successful traders on the platform. Traders can view the performance statistics, trading history, and portfolio of other traders and choose who to copy. Copy trading can help traders learn from others, diversify their portfolios, and save time.
- Trading contest: This feature allows traders to participate in a weekly trading contest where they can compete with other traders for a chance to win valuable prizes. The top four traders will share $20,000, with extra bonuses and prizes for other participants. The payouts are determined by the weekly transaction volume of each trader during the contest week.
- Market analysis: This feature provides traders with regular technical and fundamental analysis on various markets and assets. Traders can use this feature to get insights, tips, and strategies from professional analysts and experts. Market analysis can help traders make informed decisions and stay updated on market trends and movements.
- Trading stats: This feature allows traders to view their own trading statistics, such as profit, loss, win rate, open positions, closed positions, etc. Traders can use this feature to monitor their performance, track their progress, and improve their skills.
- Marketplace: This feature allows traders to buy or sell various digital products and services related to trading, such as signals, indicators, robots, courses, etc. Traders can use this feature to access useful resources, tools, and information that can help them enhance their trading results.
While IQCent may not feature a dedicated education section on its website, it does offer several valuable resources and tools to aid traders in enhancing their knowledge and skills. These resources include regular market analysis articles covering various assets, which offer insights, strategies, and expert advice to inform trading decisions. Additionally, IQCent provides a copy trading feature, enabling users to emulate the trading strategies of successful peers, saving time and fostering learning opportunities. For those seeking a competitive edge, the platform hosts weekly trading contests with enticing prizes, allowing traders to test their skills and learn from real-time experiences. Moreover, the help center offers a comprehensive repository of frequently asked questions and facilitates direct communication with the customer support team through live chat, phone, or email, ensuring traders receive timely assistance and guidance.
IQCent boasts an extensive array of markets and assets accessible through its trading platform, catering to traders diverse preferences. The broker facilitates both CFDs and binary options trading across a comprehensive selection of financial instruments. With a portfolio encompassing over 100 unique assets, IQCent caters to traders seeking diversity in their trading endeavors. Among the markets and assets available, traders can explore the following:
- Forex: IQCent presents a dynamic offering of CFDs and binary options on more than 40 forex pairs, encompassing major, minor, and exotic currencies. Engaging in forex trading involves speculating on the price fluctuations of currency pairs like EUR/USD, GBP/JPY, and USD/CAD. This market is known for its volatility and potential for both risk and reward, making it a captivating choice for traders.
- Stocks: IQCent facilitates CFDs and binaries on four prominent German stocks: Lufthansa, Deutsche, Daimler, and BMW. Stock trading entails predicting the price movements of individual company shares, such as those of Apple, Amazon, or Tesla. This form of trading can be influenced by a variety of factors, including earnings reports, news events, and market sentiment.
- Indices: IQCent offers CFDs and binary options on seven major indices, including US30, S&P500, and FTSE100. Index trading involves speculating on the price movements of a collection of stocks representing specific markets or sectors, such as the U.S., U.K., or Germany. Trading indices offer diversification opportunities and exposure to broader market movements.
- Commodities: IQCent supports CFDs and binaries on four essential commodities: gold, silver, oil, and gas. Commodity trading revolves around predicting price fluctuations in raw materials crucial to the global economy, including metals, energy resources, and agricultural products. This market is influenced by supply-demand dynamics, geopolitical events, and weather conditions.
- Cryptocurrencies: IQCent empowers traders with CFDs and binary options on 17 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Engaging in cryptocurrency trading entails forecasting price movements of digital currencies underpinned by blockchain technology. Assets like Bitcoin and Ethereum are known for their high volatility and potential for substantial gains, making cryptocurrency trading a compelling venture.
This diverse range of markets allows IQCent users to explore multiple trading avenues, each offering unique opportunities and challenges.
IQCent has a low minimum deposit requirement of $50, which can make it accessible and affordable for traders with different budgets and preferences. The broker also offers three types of accounts that cater to different levels of traders: Bronze, Silver, and Gold. Each account type has its own features and benefits, as well as some drawbacks. Here is a brief overview of each account type:
- Bronze account: This is the basic account type that requires a minimum deposit of $50. It offers a payout boost of 0.2%, a deposit bonus of 20%, a maximum trade size of $250, and 20 free rollovers. It also provides access to the trading contest, the marketplace, the demo account, and standard customer support. The withdrawal time for this account is 8 hours. This account type is suitable for beginners or casual traders who want to try out the platform and the services of IQCent.
- Silver account: This is the intermediate account type that requires a minimum deposit of $1,000. It offers a payout boost of 0.5%, a deposit bonus of 50%, a maximum trade size of $1,000, and 50 free rollovers. It also provides access to the trading contest, the marketplace, the demo account, the priority customer support, the tech analysis, and the giveaway. The withdrawal time for this account is 4 hours. This account type is suitable for intermediate or experienced traders who want to enhance their trading experience and performance.
- Gold account: This is the advanced account type that requires a minimum deposit of $5,000. It offers a payout boost of 1%, a deposit bonus of 100%, a maximum trade size of $5,000, and unlimited free rollovers. It also provides access to the trading contest, the marketplace, the demo account, the priority customer support, the tech analysis, the giveaway, and the personal manager. The withdrawal time for this account is 1 hour. This account type is suitable for advanced or professional traders who want to maximize their trading results and profits.
IQCent offers a versatile array of funding options, accommodating both fiat and cryptocurrency enthusiasts while providing a variety of payment methods. Deposits can be made conveniently using credit cards, debit cards, e-wallets, and wire transfers. The broker is also renowned for its speedy withdrawal processing, often completed within a mere hour, surpassing the industry standard. Nonetheless, it’s important to note that IQCent imposes fees and commissions for certain deposit and withdrawal methods, with the exact amount contingent on the chosen payment method and currency.
Here are the key aspects of IQCent’s funding options:
- Deposit Methods: IQCent accepts deposits through a wide range of channels, including Visa, Mastercard, Perfect Money, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, and bank wire transfers. The minimum deposit requirement is typically $50 for most methods, except for bank wire transfers, which necessitate a minimum deposit of $500. Importantly, the broker generally does not impose deposit fees, though bank wire transfers may incur a fee of up to 5%, subject to the specific bank’s policies.
- Accepted Currencies: IQCent facilitates deposits in an extensive assortment of currencies, spanning USD, EUR, GBP, AUD, CAD, NZD, ZAR, RUB, NOK, SEK, DKK, CHF, JPY, SGD, HKD, TRY, MXN, PLN, BTC, ETH, LTC, and USDT. The broker does not impose any conversion fees for deposits conducted in differing currencies.
- Withdrawal Methods: IQCent permits withdrawals through Visa, Mastercard, Perfect Money, Skrill, Neteller, Bitcoin, Ethereum, and other methods.
In conclusion, IQCent offers a compelling array of trading opportunities, featuring a diverse portfolio of assets, copy trading, high leverage, and a proprietary platform accessible 24/7 without the need for downloads. Notably, IQCent is regulated, providing an added layer of security and trustworthiness to traders. However, it’s worth considering that the platform imposes various fees and commissions for deposits and withdrawals, which may vary based on the chosen payment method and currency. While IQCent may attract traders seeking a low minimum deposit, significant payout boosts, and access to various digital products and services, it’s essential to remain diligent and ensure a complete understanding of all associated costs. As always, for further insights and choices, we recommend exploring our comprehensive trading broker reviews to make informed decisions.