IQCent Review 2022

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IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $250 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.

Bonus20% - 100% Deposit Bonus
InstrumentsCFDs, Binary Options, Forex, Stocks, Indices, Commodities, Cryptocurrencies
Demo AccountYes
Min. Deposit$250
Payment Methods
Min. Trade$0.01
MetaTrader 4No
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewYes
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsYes
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Social TradingYes
Copy TradingYes
Trade SignalsTradingView
Islamic AccountNo
Account Currencies
  • USD
  • EUR
  • GBP
Inactivity Fee$10
Guaranteed Stop LossNo
Stock Exchanges
CFD TradingTrade leveraged CFDs on popular markets including stocks and commodities.
CFD FTSE SpreadFrom 0.7 pips
CFD GBPUSD SpreadFrom 0.7 pips
CFD Oil SpreadFrom 0.7 pips
CFD Stocks SpreadVariable
CFD Leverage1:500
Forex TradingIQCent offers major, minor and exotic currency pairs with tight spreads.
Forex GBPUSD SpreadFrom 0.7 pips
Forex EURUSD SpreadFrom 0.7 pips
Forex EURGBP SpreadFrom 0.7 pips
Forex Assets40
Crypto TradingTrade popular crypto tokens via leveraged CFDs.
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BTC
  • ETH
  • LTC
Binary OptionsTrade high/low binary options on popular financial markets with high payouts.
Payout Percent95
Ladder OptionsNo
Boundary OptionsNo
Risk Warning – Your capital is at risk

IQCent offers 100+ assets spanning forex, CFDs, cryptos, and binary options. The online broker aims to support novices and experienced traders alike through its proprietary trading platform with a range of technical and fundamental analysis tools. This 2022 review of IQCent unpacks the firm’s investing apps, supported trading strategies, demo accounts, and promo codes. Find out whether you should open a trading account with IQCent.

Company Details

IQCent is a multi-asset trading brokerage with headquarters in the Marshall Islands. Launched in 2017, the retail trading brand is run by Wave Makers Ltd, which also operates BinaryCent, another popular options broker.

IQCent offers 24/7 trading with a $250 minimum deposit and a $0.01 minimum trade size, making it popular with beginners. The broker also boasts payouts of 95% on its binary options products while 10+ payment methods can be used to fund live accounts.

The trading brand accepts clients from many countries around the world, including Canada, India, Japan, South Africa and the UK. The broker is not available to investors based in the USA.

Note, IQCent is an unregulated trading broker.

Markets & Products

Clients can speculate on the broker’s 100+ financial instruments using straightforward binary options contracts and leveraged CFDs:

Trading Platforms

IQCent provides its own trading platform. There is no option to use third-party platforms.

Executing A Trade

To make a trade on the IQCent platform, you must first choose whether you are opening a CFD position or utilizing an options contract.

CFDs

Input the trade size and select whether you want to go long or short. The maximum leverage offered is 1:500 and the platform will tell you the required stake to open the trade. You can trade in either dollars or cents, and the minimum trade size is $0.01.

You also have the option to include stop-loss and take-profit orders, which can be used to automatically close a position when certain price conditions are met, thus reducing risk exposure.

Additionally, IQCent allows clients to choose whether the contract opens at the current market price or on the condition of a security reaching a certain value. For instance, brent crude oil is currently trading at $93. You can set an ‘IF’ contract such that if brent declines to $92, an order will automatically be placed.

Note that for CFD contracts there is a maintenance margin of 5%, meaning the maximum loss you can make on your positions before IQCent closes your contract is 95%. Ensure the net balance in your account can always cover the minimum required margin if you do not want positions to be automatically closed.

IQCent broker review
IQCent Platform

Options

When you open a binary options contract, you must first select the expiry. Unless you use a rollover, this is a fixed expiration time. For this, you can choose between a turbo (1 minute to 30 minutes), intraday (specify to a given hour), or long-term (specific date).

The only type of binary option you can open is high/low with the strike price set at the current market value. There is a bar on the left-hand side of the chart showing the percentage profit for either a high or low binary option, indicating your expected payout should you open the contract.

Finally, you input your stake and select call or put to begin the trade.

Copy Trading

IQCent also offers a copy trading service such that clients can follow and replicate the trades of selected investors. The copy trading tool can be accessed via the main platform where you can see a leaderboard of the top 10 most successful traders and their profit percentage over time.

To begin copying, simply click ‘Follow’ on your chosen provider.

Copy Trading Leaderboard

Charting

The platform makes use of price history charts from TradingView to help customers conduct their analysis and execute trades. It is also easy for clients to customize the experience through time frames ranging from 1 minute up to 1 day in addition to several charting types. This includes Heikin Ashi, Japanese candlesticks, bar charts, line charts and area charts.

Furthermore, IQCent has provided many in-built indicators to help with technical analysis, for example, relative strength index, average true range and the moving average exponential.

IQCent trading terms and conditions
Charting

Extra Features

To improve the trading experience, IQCent also provides additional technical analysis and market insights. Here, you can read what experts from IQCent think about markets over the upcoming days and weeks. This includes resistance and support levels for certain securities.

Moreover, you can read about new trade ideas if you are thinking of adopting a new strategy. As well as analysis, there are tabs for recent news and an economic calendar populated with upcoming events such as countries releasing information on the inflation rate MoM and YoY.

Technical Analysis Feature

Another benefit of using IQCent is the option to use various orders such as double up, rollover and sell out. Double up acts as a contract duplication service whereby you copy an open contract to enter a new trade with the same security, expiration and direction. However, the entry will be the current market value, not the value when you opened the initial contract. For example, if the initial entry price was $3 but the security is now trading at $3.50, the double-up contract entry will be $3.50.

The rollover feature allows you to extend the expiration time of an options contract. The first time you use rollover is a 100% increase in expiration time. For instance, if the contract is an hour, a rollover will extend expiration by another hour. All subsequent uses of rollover increase expiration by 30%. For example, an 18-minute increase for an hour-long contract.

To use rollover, your contract must meet certain criteria. Firstly, the contract must be out-of-the-money at the time of the request. Secondly, you must place the request before three-quarters of the contract time is complete (i.e. more than 15 minutes before expiry if the contract is one hour).

To use rollover you also have to stake an additional 30% deposit. For example, if you staked $100 to open the contract initially, you must invest another $30 to extend the expiry time.

Sell out is used to close a position before expiry. Note that this order is only available if your contract is currently in-the-money.

Account Types

There are three different live accounts:

Bronze

The most basic account type:

Silver

All Bronze account features plus:

Gold

All Bronze and Silver account features plus:

Demo Account

There is also a free demo account available to all IQCent users when they sign up and login.

The paper trading profile is a good way to practice using the proprietary platform before you start trading with real capital. It’s also a good place to start for beginners new to binary options trading and leveraged CFDs.

Account Verification

When you sign up to IQCent, you need to complete a ‘Know Your Customer’ process. KYC is used to verify accounts by having clients submit government-issued identification and proof of address. Only once you have completed the KYC process will you be allowed to make a withdrawal.

How To Verify Your IQCent Account

  1. Go to the ‘Personal Data’ section in Settings
  2. Input the identification document type
  3. Upload images of both the front and back of your chosen ID
  4. Sign the user agreement

IQCent Fees

IQCent does not charge commissions on binary options, meaning the payout available on the platform is the total turnover if the contract ends in-the-money. Payouts can reach 95%.

For CFDs, IQCent makes its money through spreads which start at 0.7 pips. Additionally, the broker charges a 0.07% swap fee on overnight positions. The only trades which incur a commission are cryptocurrency CFDs. For non-leveraged trades, the fee is between 1% and 2.5%. There is a fee of up to 5% when trading on margin.

There is also a $10 monthly inactivity fee.

Account Funding

There are a number of accepted deposit and withdrawal methods, including Visa and Mastercard debit and credit cards as well as cryptos such as Bitcoin, Ethereum and Tether. Regardless of the method, deposits are processed instantly and there is a minimum payment requirement of $250.

The expected withdrawal time is one hour, however, this may be longer if you submit the request outside of regular business hours. The minimum withdrawal amount is $20.

For transfers made using debit and credit cards, IQCent charges a 5% fee. If you use cryptocurrencies instead then deposits and withdrawals are free.

Note, withdrawals have to be made using the original deposit method. Additionally, withdrawal rules state that you must verify your account before you can request a payment.

How To Withdraw Money From IQCent

  1. Sign in to your account at https://www.iqcent.com/login
  2. Go to ‘Funds’ and click ‘Withdrawals’
  3. Select the method you used for your deposit and type your destination account details. For crypto transactions, this would be the wallet address
  4. Input the amount you would like to withdraw
  5. Confirm the request

If you experience withdrawal problems, contact the customer service help phone number found on the ‘Contact Us’ page. You should also check your account verification status as you may still be waiting for confirmation.

Regulation & Security

IQCent is not licensed by any regulatory authority, meaning your funds are not protected by any government schemes. The broker does, however, use 3D secure protocol and 256-bit SSL processing to encrypt user data.

IQCent Support

All accounts are entitled to 24/7 customer support. If you are experiencing issues such as the platform is down and keep crashing, keeps logging you out or features are not working, seek help. Additionally, if you want to delete your account, contact the customer service team.

The IQCent team can be reached through the following methods:

Apps & Accessibility

The primary IQCent trading platform can be accessed via a desktop web browser – there is no download option for PC.

Clients can also make trades using the mobile app. The application can be downloaded on iPhones and other iOS devices through the Apple App Store and on Android devices via the Google Play Store. You may also be able to find an unofficial alternative APK app through a third-party website online.

Bonuses & Promotions

IQCent runs various promotions and bonus schemes. When you first register an account, you are eligible to receive a deposit bonus that scales with how much you transfer. For example, if you deposit between the minimum limit and $999, the promo code will provide you with a 50% bonus. For deposits of $1,000, there is a 100% bonus.

IQCent also runs a weekly trading contest where clients compete to generate the greatest returns. The top 20 most successful traders are given cash prizes with the winner receiving $10,000, second place receiving $5,000 and third receiving $3,000.

Customers may also receive bonuses through referral schemes. Each account comes with a referral link to share with family, friends and colleagues. Bonus availability per referral is equal to 20% of the initial deposit.

Pros

Our experts found several benefits to trading with IQCent vs RaceOption and Videforex, for example:

Cons

When we used IQCent, we also came across several drawbacks:

IQCent Verdict

IQCent is an attractive broker due to its multiple markets, range of promo codes, copy trading services, and well-made trading platform. The technical and fundamental analysis reports are also a great aid for beginners looking to develop or try out new trading strategies. On the downside, traders are restricted to high/low binary options contracts in addition to CFDs. Also, the broker is not regulated by a trusted financial body.

Accepted Countries

IQCent accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use IQCent from United States.

Alternatives to IQCent

If you are looking for alternatives to IQCent we have compiled a list of the top 5 brokers that are similar to IQCent below. This list of brokers like IQCent is in order of similarity and only includes companies that accept traders from your location.

  1. Pocket Option – Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  3. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  4. Quotex – Quotex offers a proprietary web platform that has digital options and trading signals.
  5. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.

FAQ

Who Owns IQCent?

IQCent is owned and operated by Wave Makers Limited, based in the Marshall Islands. The company has previous experience managing trading bands as it also runs BinaryCent.

Is IQCent A Legit Or Scam Broker?

IQCent is a legitimate broker. However, it is not regulated, so there are limited protective measures in place. Utilize demo account profiles before investing money.

How Does IQCent Make Money?

IQCent makes money through spreads and commissions on CFDs plus losing binary options bets. IQCent acts as the counterparty to all trades made on the platform.

Is IQCent Regulated?

No, IQCent is not a regulated trading broker. If you want to use a licensed brokerage, consider alternatives such as Pocket Option.

Does IQCent Have Rollover?

Yes, IQCent does offer rollover on options contracts. The first time that you use rollover will double the expiration time of the contract. Every subsequent use of rollover increases the contract length by 30%.

How Does IQcent Work?

IQCent is a CFD and binary options broker offering trading in forex, commodities, crypto, indices and stocks. You can deposit funds through Visa and Mastercard or cryptocurrencies such as Bitcoin. There is also a free demo account available.

Is IQCent Free?

It is free to open an account with IQCent – there is no monthly or yearly subscription fee. The only fees come from deposits via debit or credit card, overnight contracts, crypto CFDs and inactivity.

IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $250 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.

IQCent vs Other Brokers

Compare IQCent with any other broker by selecting the other broker below.

IQCent vs

The most popular IQCent comparisons:

  1. IQCent vs BinaryCent
  2. IQCent vs Alpari
  3. IQCent vs Pocket Option
  4. IQCent vs RaceOption
  5. IQCent vs Videforex