IQcent review 2023 – Is it a scam or not? – Test of the broker

Binary options trading involves a high level of risk and offers great opportunities to make a lot of money. Therefore, some people claim that brokers such as IQcent are a scam. With over 100 assets, attractive bonuses, and returns of up to 95%, it is a well-known broker.

But is IQcent a scam or not? Can you trade safely with this binary options broker, or should you avoid it at all costs? In this review, we will take a closer look at IQcent and evaluate the platform.

Quick facts about IQ Cent:

⭐ Rating:	(4.2 / 5)
⚖️ Regulation:	IFMRRC
💻 Demo account:	✔ (available, unlimited)
💰 Minimum deposit	10$
📈 Minimum trade:	0,01$
📊 Assets:	100+, Commodities, Forex, Energy, Precious Metals, Indices
📞 Support:	24/7 phone, chat, email
🎁 Bonus:	Bonus up to 20% for Bronze account users, bonus of more than 50% for silver account users Use the code ‘BOFREE’ to claim your $100 no-deposit bonus
🎁 Bonus conditions for withdrawal:	3x turnover of deposit + bonus
⚠️ Yield:	Up to 95%+
💳 Deposit methods:	Bitcoin, Bank Wire Transfer, MasterCard, Visa, Ethereum, Perfect Money, Altcoins, Litecoin, Neteller, Skrill
🏧 Withdrawal methods:	Bitcoin, Bank Wire Transfer, MasterCard, Visa, Ethereum, Perfect Money, Altcoins, Litecoin, Neteller, Skrill
💵 Affiliate program:	Available
🧮 Fees:	Spreads and margins apply. No deposit fees. No withdrawal fees. (Bank fees may apply). No hidden fees.
🌎Languages:	Afrikaans, Albanian, Amharic, Arabic, Armenian, Azerbaijani, Basque, Belarusian, Bengali, Bosnian, Bulgarian, Catalan, Chichewa, Chinese (simpified + traditional), Corsican, Croatian, Czech, Danish, Dutch, English, Esperanto, Estonian, Filipino, Finnish, French, Frisian, Galician, Georgian, German, Greek, Gujarati, Haitian Creole, Hausa, Hawaiian, Hebrew, Hindi, Hungarian, Icelandic, Igbo, Indonesian, Irish, Italian, Japanese, Javanese, Kannada, Kazakh, Korean, Kurdish, Kyrgyz, Latvian, Lithuanian, Macedonian, Mlagasy, Malay, Malayalam, Maltese, Maori, Marathi, Moldavian, Mongolian, Montenegrin, Nepali, Norwegian, Pashto, Persian, Polish, Portuguese, Punjabi, Romanian, Russian, Scots Gaelic, Serbian, Sesotho, Shona, Sindhi, Sinhalese, Slovak, Slovenian, Somali, Spanish, Sundanese, Swahili, Swedish, Tajik, Tamil, Telugu, Thai, Turkish, Ukrainian, Urdu, Uzbek, Vietnamese, Welsh, Yiddish, Yoruba
🕌 Islamic account:	Not available
📍 Headquarter:	Brooklyn, New York, United States
📅 Founded in:	2017
⌛ Account activation time:	Within 24 hours

What is IQcent? – The broker presented

IQcent is a newly introduced binary options broker that accepts cents; you can trade financial instruments in the form of cents as low as $0.01. The company introduced this binary broker in 2017, and it started online CFD trading in 2020. The primary location of the platform is in Majuro, Marshall Islands.

The option for opening a demo account is not available at IQcent. But you can be eligible for one by signing up for a live account and funding it. Then with the help of customer care, you can demo account credentials. A binary options demo account helps new traders to practice trading in a risk-free environment with some of the trading features available in the demo account.

It has three different account types, bronze, silver, and gold, and all three come with different features.

The online trading platform has introduced various new features like copy trading, in which you can easily copy the moves of the top traders and earns profit in no time. You can also learn from these experts to gain knowledge and experience. The minimum deposit fees are $10. 

It also provides live customer support for clients’ assistance and tries to remove confusion and difficulties.

Pros and cons of IQcent

Every broker has its pros and cons. The same is true with IQcent. However, after a closer look, we can say that the pros of this broker outweigh the cons. IQcent offers many exciting opportunities to make money as a trader. Here is an overview of the pros and cons:

Is IQcent regulated? Regulation and safety for customers

When choosing a binary options broker, regulation plays a crucial role. Unfortunately, IQcent has no regulation. But the broker has proven to be reputable. In our test, all deposits and withdrawals went smoothly. Winnings were paid out. With many users and SSL encryption and data protection, IQcent is quite secure overall.

Regulation and safety of IQcent

Before commencing speculative trading, the trader makes sure that the trading platform is safe and can be relied upon. The trader needs to be sure if he can depend upon a platform like IQcent. One of the best ways to measure online trading platforms’ safety is to determine which regulatory authority is keeping an eye on these trading platforms.

Well, IQcent is not a regulated online trading platform, so users need to be aware that their funds can be at risk. It is also unclear if IQcent keeps the client’s account funds separate from the broker’s account. The partners of the online trading platform are not liable because they don’t possess any license from the regulatory body.

The online broker does not comply with any rules because it has no regulations to keep an eye on them. The partners and agents of IQcent are not registered. And IQcent provides no service in the USA.

Regulation:	Not regulated
SSL:	Yes
Data protection:	Yes
2-factor authentication:	Yes
Regulated payment methods:	Yes, available
Negative balance protection:	Yes

Review of the trading offers and conditions of IQcent:

IQcent lets you invest in financial markets using binary options (digital options). The technique is simple; you must correctly predict a price movement at a particular time. Before signing up with any broker, you should always check the terms and conditions for traders and investors. Then, you can earn a high return on your investment.

Quick facts about the offers:

Minimum trade amount:	$ 0.01
Trade types:	Binary Options, digital options
Expiration time:	60 seconds up to 4 hours
Markets:	100+
Forex:	Yes
Commodities:	Yes
Cryptocurrencies:	Yes
Stocks:	Yes
Maximum return per trade:	95%+
Bonus:	Bonus up to 20% for Bronze account users, a bonus of more than 50% for silver account users Use the code ‘BOFREE’ to claim a $100 no-deposit bonus
Execution time:	1 ms (no delays)

What are Binary Options on IQ Cent?

These are the type of options in which the payout highly relies upon the yes/no proposition and is related to if the price of a financial instrument will rise above or fall below the specified amount. The binary option doesn’t provide the client with an option to buy or sell a particular financial instrument. You can do binary options trading through platforms like IQcent.

Account types on IQcent:

It is easy to trade with IQcent because of the interactive website. In order to cater different needs of the clients, there are different accounts as per the need of the client. 

The online trading platform offers three different account types. If you are a beginner and start with a small amount for online speculation, check the accounts and their features given as follows.

Types of live accounts available with IQcent:

 #1 Gold

• Master class
• Copy-trading tool
• Personal success manager
• Withdrawals in sixty minutes
• Demo account
• Video chat support

#2 Silver

• Bonus more than 50%
• Demo account
• The first three trades provided risk-free
• Master class
• Copy-trading tool
• Withdrawals in sixty minutes
• 24 hours’ live support

#3 Bronze

• Copy-trading tool
• Bonus up to 20%
• Demo account
• Withdrawals in sixty minutes

Accepted countries:

Trading is allowed from various parts of the world if the country in which the account is opened allows international online trading with brokers. Its services are unavailable in the US territory. Due to legal reasons, certain features of the online trading platform are not available in some countries.

Recognition and awards

If the online platform is honored with awards, then it is very helpful for potential clients to gain trust in the online trading platform. 

As per the concerned resources, IQcent has not received any awards yet because it is a newly formed online trading platform. But they have the potential to gain recognition because of the innovation the company has introduced. The binary options are to be soon recognized in the world of online trading platforms.

Creating an account with IQcent

Creating an account with IQcent is an easy process. Follow these simple steps:

• Go to the IQcent website and click on the “sign up” option. A form with appear; fill in all the details like your name, address, and email correctly. If you fill in incorrect information, it will cause hindrances in verifying the account.
• After signing up, you can read the terms and conditions. And if you agree with these terms and conditions, click on the check box where it says, “I confirm.”
• Now, the following step is to select the next button.
• Start learning to trade with the demo account.

It is essential for the clients to submit identification and residential proof. If you cannot verify the proofs, then IQcent has complete authority to close down the account.

You can make deposits in GBP, USD, RUB, and EUR through different methods.

Withdrawals and deposits on IQcent

You can open any account at IQcent with a minimum deposit of $10.

The following methods are available for making withdrawals:

• Bitcoin
• Bank Wire Transfer
• MasterCard
• Visa
• Ethereum
• Perfect Money
• Altcoins
• Litecoin
• Neteller
• Skrill

Processing of deposits takes place in no time, except for Perfect Money, which can take up to sixty minutes. Withdrawal can usually take sixty minutes after the confirmation of the same.

Review of the IQcent trading platform and other features

The software for forex trading is known as the platform. The broker company provides a platform to its clients for carrying out the trade. Trades can also be multi-asset, in which trading of other assets along with forex is allowed. These assets can be stock indices, cryptocurrencies, and precious metals.

IQcent provides its trading platform known as IQcent platform. It is a user-friendly and interactive trading platform. Once the account is opened, all the further information is readily available.

The attractive user interface comes with a copy trading tool to help its clients. You can quickly learn and copy those traders who are experts, and they are put up on the list based on their performance.

Different trading chart types help in easy navigation. The platform also offers the patterns of the market and technical analysis that will help you to understand the market position.

The CALL and PUT buttons of IQcent’s platform help in the execution of trades. The trade time varies from one minute to thirty minutes. The trading platform has a perfect user interface, and it is very versatile because it is available on all devices and doesn’t require downloading any software.

It is easy to access the data saved on the website and is not accessible on different devices.

All the tools on the website are readily available, and you can use these tools for trading.

The charts feature is available at the center of the website, which helps you to trade in more than one asset.

You can measure the probable gains and losses with measuring tools available on the website. The text tools help in adding comments to the portfolio.

Russian, Spanish, and English are the available languages for the trading platform.

Quick facts about the offers of IQcent:

Minimum trade amount:	$0.01
Trade types:	Binary Options, digital options
Leverage:	Up to 1:500
Forex:	Yes
Commodities:	Yes
Indices:	Yes
Cryptocurrencies:	Yes
Stocks:	Yes
Maximum return per trade:	Up to 95%+
Execution time:	1 ms (no delays)

Copy-Trading

IQcent provides you with a list of the top ten best traders. These traders are trusted and tested by the clients. You can start copy trading by funding your account, selecting a professional, and choosing copy trading. Now you can copy all the moves of the professional, and it also helps you in winning the trade. 

This feature is available for both old and new users. The old users can use the tool to make profits in no time, and the new users use this tool to learn the moves from the experts. 

Copy-trading also helps minimize the losses and allocate the funds to such assets where the risk is lower compared to other financial instruments.

This feature also helps save the clients’ time because they can copy the moves of the expert traders, and it also creates a risk-free environment for the traders.

Free bonus program:

Online brokers often attract new traders through attractive deposit bonuses. But it is essential to understand what the conditions to receive the benefit from the bonus are. 

Once you prove yourself as an active trader, you receive a certain amount of bonus, which is a return for the expenses you made since you began signing up. Bonuses are a way of compensating new traders for selecting a broker.

Bonuses only help to benefit you when you start trading in high volumes. IQcent provides its clients with an initial deposit bonus. 

The online broker offers a referral program with a 20% bonus on deposits if you share your referral code with your family, friends, and colleagues. To earn money, all you need to do is share the link with your friends and acquaintances. 

Leverage

The trading platform allows leverage up to the ratio of 1:100. Leveraged trading of products reflects the potential profit of the trader. But sometimes, it increases the chances of loss. It helps you to receive significant exposure to the speculative market.

Fees and costs on IQcent

Spreads, margins, and commissions determine the cost of speculative trading. The difference between the selling rate and the buying rate is known as the spread. The smallest increment due to the movement in the exchange rate is the pip.

Margin is known as the amount that is required to open a position in your account. Margin calculation is on the base currency: US Dollars, the leverage, and the position’s volume.

Commissions are the charges imposed on the trader for commencing trade by the broker on behalf of the trader. The asset that is traded and the service offered determine the amount of commission.

There are certain brokers who do not lend personal advice for online trading, known as execution-only brokers; they charge lower rates of commissions.

The contract for differences trading is a feature that helps traders speculate about the rising and falling prices in the financial markets. 

Furthermore, the broker charges no fees on IQcent withdrawals or deposits, but bank fees are applied if you are doing the transactions through a credit card or debit card. The trading platform offers a lower rate of spread as compared to other platforms. The broker charges no commission.

Assets of IQcent

The online platform offers 15 cryptocurrency pairs, 4 stocks, 26 currency pairs, and 2 commodities. The expiry period is from one to thirty minutes.           

IQcent’s products, markets, and instruments

More than a hundred trading instruments are available on IQcent’s trading platform, which includes cryptocurrencies, commodities, indices, and forex.

• Commodities

Tradable goods based on contract trading take place in the commodities market, which is similar to markets of currency exchange.

• Forex

The marketplace where currency exchanges take place for one another according to the floating rates is the forex market. Individuals, companies, and financial institutions are participants in the Forex market.

• Energy

Energy is a popular choice for trading because of its limited availability and very high demand, which results in the high price of this commodity.

• Precious Metals

Metals like silver, gold, and other precious metals trade take place in the market on the basis of a contract. 

• Indices

The index represents small parts of a big company; they may represent some specific stock market. Indices determine the value of shares of a company.

Contest and promotion

• Prizes

On every deposit by the client, IQcent offers giveaways. However, it would be best if you satisfied the minimum deposit criteria to win a prize.

• Contest

The winning prize of $20000 is there every week, and any trader can participate in the contest. The first four positions receive $20000 as a cash award, and other positions receive the bonus.

Customer support

It is essential for any broker company to provide perfect assistance for the satisfaction of their clients and to make sure that the trading activity is running smoothly without any difficulties. If there are hindrances, these require removal right away.

IQcent provides the client with live chats and video calls to address the problems their clients face, and assistance is available twenty-four hours a to reduce the hindrances caused. You can reach the broker’s support team through live chat, phone calls, email, etc. 

The most exciting feature of the online platform is that they provide an education center so most clients can solve more straightforward problems independently without wasting much time and starting with trading operations.

Supported languages:	More than 3
Ways to contact the broker:	Telephone, Email, Chat, and Video Calls
Support is available:	24/7
Email:	[email protected]
English Phone number:	+1-8299476383

Research

It is essential for potential traders to do thorough research about marketing before starting the trading process. And it would be best if you continued the research also during the trade. The success of trading in the speculative market relies highly on the knowledge and experience the speculative trader possesses. 

Research is vital for gaining experience and minimizing potential losses because of the uncertainties of the market. It is important to make sure you are investing in the right asset among the various assets available.

Thus, various research options that broker offers form an integral part of the trading platform’s features. 

Training and Education

Before commencing online trading in the forex, it is necessary for you to gain all the information and knowledge about speculative trading and financial markets, their operation, and price determination. 

The potential clients of the online trading platform should be aware of the pros and cons of the speculative market. The speculative trader must explore all the sources available to gain knowledge and experience.

As with the lack of knowledge, the potential traders may face difficulties in trading in the market, and that may incur heavy losses. On IQcent’s website, the broker assists you in opening the demo account; the online platform also offers you with Frequently Asked Questions section at the bottom of the webpage.

It is not easy to trade in a highly dynamic and risky environment; therefore, the proper knowledge is necessary for online speculations; otherwise, this may lead to heavy losses to the trader. 

If you choose to open a gold or silver account on IQcent’s website, they offer you a learning feature with a master class web session.

The legitimacy of IQcent

IQcent operates for FGC, and the finance company holds the financial service license; therefore, we can say that it is safe to trade with IQcent. The trading platform is reliable and legit. They also offer transparency in trading, which you can trust. It is a wise decision to trade with this platform.

IQcent recommendation

During the research on IQcent, you figured out that investing with this trading platform is very safe. The innovative site provides interactive features that are helpful for your growth in investment. The platform is built to give substantial completion to other brokers. They provide contests, low minimum deposits, customer support, and many attractive features. 

The versatile user interface makes the new traders comfortable with trading operations as there is no difficulty operating the website. All your performance reflects on your portfolio, like the asset you are trading in, the growth of the investment, etc. 

Comparison of IQcent with other binary brokers

If you are looking for a binary broker where the minimum trade is as low as 1 cent, then IQcent is the broker for you. IQcent offers the opportunity to execute single binary trades with as little as $0.01, making it ideal for beginners and those with little start-up capital. However, on the negative side, there is a lack of regulation. Overall, IQcent scores 3.9 out of a possible 5 stars in our review and is therefore still recommendable.

	1. IQcent	2. Pocket Option	3. IQ Option
Rating:	3.9/5	5/5	5/5
Regulation:	Not regulated	IFMRRC	/
Digital Options:	Yes	Yes	Yes
Return:	Up to 95%+	Up to 93%+	Up to 100%+
Assets:	100+	100+	300+
Support:	24/7	24/7	24/7
Advantages:	Minimum trades from $0,01	Offers 30-second trades	Offers CFD and forex trading as well
Disadvantages:	No proper regulation	No phone support	Not available in every country
	➔ Sign up with IQcent	➔ Visit the Pocket Option review	➔ Visit the IQ Option review

Conclusion of our IQcent review: No scam detected

We conclude that it is easy to start trading with IQcent because it is a newly introduced platform for trading with interactive features that only help you to grow your investments. It is a new way of trading in binary options. The trading platform is good to use and legit as well as trustworthy.

New traders can start trading with the online trading platform in no time because the signup process is elementary, and the minimum fees for opening an account are just $10.

New traders can rely on IQcent as it provides intelligent tutorials and copy trading that can help you to learn how online trading works. 

You can visit the website of IQcent to gain more knowledge about the platform. The FAQ and 24-hour customer support are very helpful. 

We advise you to trade with a trustworthy broker so that your hard-earned money is not lost, so you must do all the required research before commencing online trade-in speculative markets.

Frequently asked questions (FAQs) about IQcent: