- Overall Rating
IQCent is a great online trading platform. It is reliable and trustworthy. It offers a lot of features to boost your trading experience. You can read our IQCent review to know more about IQCent or you can sign up with the broker using the following link.
IQCent is a newbie binary broker that was found in 2017 by a group of professionals. The broker however, started online trading in 2020. It is the only binary broker that also allows trading in cents. The headquarters of the broker are situated in Majuro, Marshall Islands. The broker provides the opportunity to trade in forex, indices, commodities, crypto assets, CFDs and other binary options. Here is a detailed IQCent review that will explain you the pros and cons of the broker. Some of the prominent features of the broker are mentioned below.
Security and Regulation
Being registered with a higher regulatory authority is mandatory to ensure the validity and authenticity of any firm. IQCent is not licensed or regulated by any regulatory body. The customers should be aware before starting the trade that there is no guarantee that their funds and assets are secure with the broker or not. The fact that the customer’s assets are stored in segregated accounts is also ambiguous.
The company is yet not allowed to operate in the territory of United States.
IQCent offers three account types to the traders to cater their different requirements. One can choose the type of account feasible for him depending upon the trading experience. These account types include Bronze, Silver and Gold accounts. The broker does not offer Islamic account for the Muslim traders. Moreover, for the beginners, it offers a demo account free of cost but for that purpose one has to first open a live account and deposit some funds initially.
To open an account, it requires a minimum deposit of $10 initially.
Leveraged products are generally considered to be risky due to the probability of potential loss attached to it. Though the leverage offered on crypto assets is generally less then leverage on other products still it is considered risky.
IQCent offers a suitable leverage ratio to the traders. The maximum leverage ratio offered by the broker is 1:100.
Deposit and Withdrawal Methods
IQCent offers a number of methods depending upon the feasibility and ease of the traders to carry out transactions in the accounts. These methods may include Visa, Bitcoin, Neteller, Skrill, Bank Wire Transfer, MasterCard, Litecoin, Altcoins and Ethereum. Depositing money via these methods does not take any time except Perfect Money that may take a little time to process. Withdrawing money requires confirmation, so it may also take about an hour to occur.
Charges and Commission
IQCent does not charges any deposit or withdrawal fee from the customers. However, if the transaction is carried out via credit card or debit card, then the third party may charge a minimal amount of fee.
The broker also does not charge any commission for its services. The information about the spreads of the broker is still ambiguous but some sources have claimed that they are relatively lower than the other existing brokers.
An efficient and quick customer support is mandatory to carry out successful trading. IQCent offers an effective customer support service to the customers 24 hours a day and all 7 days of week. The team of the broker could be accessed by phone, live chat, email or social media platforms such as Instagram or Twitter. Moreover, one can also contact them via the feedback form available on the website.
IQCent offers trading in all parts of the world. If there are no restrictions on online trading in a region, the broker operates in that region easily. However, the broker does not provide its services in US and some other regions due to trading restrictions imposed.
IQCent is an online financial broker that is slowly making its place in the international market. However, the broker needs to get registered with a regulatory higher authority to ensure the safety of the assets and to build the trust over the customers. This will create furthermore opportunities for the broker in future.