IQ Cent

IQCent
Minimum Deposit	$250
Bonus	20% to 200% Deposit Bonus
Payout	Up to 98%
Demo Account	Yes
Regulated By	IFMRRC
Award	Best Binary Broker 2023 - DayTrading.com
Country Availability	Traders from Kenya welcome

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IQCent Review 2024: A Beginner-Friendly Binary Options and CFD Broker

IQCent is an accessible broker specializing in binary options and CFD trading, offering a diverse range of trading opportunities across 100+ assets. Account holders enjoy uninterrupted trading, even on weekends, along with a copy trading service and competitive 95% payouts.

In this 2024 review of IQCent, our experts evaluated various aspects of the platform, including minimum deposits, withdrawal speeds, demo accounts, and promotional codes. Discover how to trade binary options effectively on IQCent.

About IQCent

Founded in 2017, IQCent began providing online trading services to retail clients in 2020. The brokerage processes over 10,000 transactions daily and caters to traders worldwide. Operated by Wave Makers Ltd, IQCent is headquartered in the Marshall Islands.

IQCent facilitates trading in straightforward high/low binary options and offers CFDs with leverage up to 1:500. The available trading opportunities encompass forex, stocks, commodities, and cryptocurrencies.

New users can start trading with a minimum deposit of just $250 and can execute trades as low as $0.01 through 10+ supported payment methods.

Instruments & Markets

IQCent provides access to a wide array of trading assets through binary options and CFDs, including:

Commodities: Gold, Copper, and Brent Crude Oil
German Stocks: Deutsche Bank, Lufthansa, and BMW
Global Indices: 7 of the world’s largest indices, including the S&P 500 and FTSE 100
Currency Pairs: Over 40 major and minor currency pairs, including EUR/USD, GBP/JPY, and USD/CAD
Cryptocurrencies: 12 digital currencies, including Bitcoin, Dogecoin, and Ethereum

Binary Options Trading

IQCent offers three primary types of binary options:

Turbo Options: Expiry times range from 3 to 30 minutes (with a 1-minute option for high-risk assets).
Intraday Options: Expiry times can extend up to 24 hours, with 1-hour increments.
Long-Term Options: Expiry periods range from 24 hours to 30 days, with 1-day increments.

Traders can engage in standard high/low options, which simply require predicting whether an asset's price will rise or fall. The trading platform displays a payout bar on the left-hand side for each asset, showcasing potential returns.

Understanding CFD Trading on IQCent

A Contract for Difference (CFD) is a popular derivative instrument that mirrors the value of an underlying asset, such as stocks. Traders typically engage in CFD trading with leverage, allowing them to make a small initial capital investment while effectively borrowing funds from the broker to enhance their purchasing power and potential profits.

IQCent provides flexible leverage options of up to 1:500, though this varies by asset class, with cryptocurrency CFDs limited to 1:10. Margin calls are triggered when equity falls to 5% of the required margin.

Cost Structure for CFD Trading

IQCent enables commission-free CFD trading, with floating spreads starting from 0.7 pips. However, it's essential to note that swap fees apply to positions held overnight, typically amounting to 0.07% of the position's face value.

IQCent Trading Platform

IQCent features a proprietary, web-based trading platform, eliminating the need for lengthy downloads. The platform is designed to be beginner-friendly, offering intuitive navigation and user-friendly functionalities.

During our review, we found that the platform's charts are fully customizable, offering six different timeframes (M2, M10, M30, H1, H4, D1). Traders can analyze price data using candlestick or tick charts, enhanced with drawing tools, text annotations, XABCD patterns, and more.

Additionally, IQCent provides several built-in indicators, including momentum, relative strength, and average range. Users can also access third-party market analysis, featuring buy or sell recommendations from experienced traders.

The platform includes an integrated economic calendar and up-to-date news, allowing traders to stay informed. Moreover, users can easily view their complete trading history, observe positions taken by top traders, and deposit funds with a single click.

How to Place a Binary Options Trade on IQCent

Placing a binary options trade on IQCent is a straightforward process:

Navigate to the order screen located on the right side of the platform.
Select the asset you wish to trade from the drop-down menu (you can search or filter by asset class).
Choose the option type (Turbo, Intraday, or Long-Term).
Select the timeframe, which determines the contract duration.
Opt for fixed or flexible timing using the sliding bar.
Decide your stake amount by clicking the ‘+’ or ‘-’ icons.
Finally, select ‘up’ or ‘down’ based on your price prediction.

Additional Features of IQCent

When exploring the IQCent platform, our experts discovered several valuable tools designed to enhance the experience for binary options traders:

Double-Up Feature: IQCent allows traders to double-up on an investment before expiration. This feature effectively doubles both the trade size and potential winnings. When opting to double-up, you replicate the position with the same direction, amount, and expiry time.
Rollover Option: The rollover feature enables investors to extend their position by 100% for one use. After the initial rollover, a 30% addition is permitted on the same position. To qualify for a rollover, the contract must be out-of-the-money and within the last quarter of the original expiry period.
Sell Out Option: IQCent provides a sell out feature, allowing binary options traders to close a position before expiration if it has achieved a profit of at least 0.1%. This enables users to lock in profits early.

Mobile Trading

Unfortunately, our experts noted that IQCent's proprietary platform is no longer available as a mobile app for iPhone (iOS) or Android (APK) devices. However, traders can access the browser-based terminal on mobile and tablet devices. While this option is available, we found that stability and charting capabilities are significantly better on the desktop version.

IQCent Payouts

IQCent offers competitive payouts, with a maximum of 95% available for successful trades. While using the platform, we observed payouts ranging from 20% to 75% on cryptocurrencies. For currency pairs, payouts varied between 60% and 85%, and commodities offered payouts of up to 75%.

Payment Methods

Deposits

To start trading with IQCent, the minimum deposit requirement is $250. Users can fund their accounts using various methods, including debit and credit cards (Visa/Mastercard), wire transfers, or cryptocurrencies like Bitcoin and Ethereum.

Deposits via credit/debit cards are instant, while crypto deposits may experience delays due to blockchain confirmation times. IQCent does not charge any fees for deposits, but third-party costs may apply.

Withdrawals

Withdrawals must be made back to the original deposit method. The typical withdrawal processing time is one hour; however, the time for funds to clear back to the user’s account may vary. IQCent has a minimum withdrawal requirement of $20, and a 5% fee applies for credit and debit card withdrawals. Additionally, a $10 inactivity fee is charged for accounts that remain unused for 90 days.

Copy Trading

The IQCent platform features a copy trading option, which is ideal for beginners or those wishing to invest without spending extensive time analyzing the markets.

Users can view the performance metrics of the top 10 traders before committing their funds, including profit percentages and the locations of “pro” traders. Once your account is funded and has a positive net balance, simply select ‘copy trading’ on the left side of the platform. Then, choose the trader you wish to copy and specify the amount you want to stake.

This copy trading service is free and available to all live account holders.

IQCent Accounts

IQCent offers three distinct live account types tailored to meet the needs of different traders:

Bronze Account: Enjoy 24/7 live video chat support, 1-hour withdrawals, copy trading capabilities, a demo account, and a 20% bonus on deposits.
Silver Account: In addition to all Bronze features, Silver account holders receive a 50% bonus, access to a master class, and three risk-free trades.
Gold Account: Gold accounts include all the benefits of the Silver account, plus a 100% bonus, a personal success manager, and additional three risk-free trades.

How to Register

Creating a live IQCent profile is a quick and straightforward process. Simply visit the website and click the 'sign up' button located in the top right corner of any page. As part of the Know Your Customer (KYC) protocols, you will need to verify your identity by providing a copy of a passport, driving license, or utility bill.

IQCent accepts multiple account currencies, including USD, EUR, GBP, and RUB.

Demo Account

IQCent also provides a demo account for potential traders. To access it, follow the same sign-up procedure as for a live account. After entering your personal details (name, email, and phone number), you can immediately access the simulated trading environment and log in as often as you wish.

However, it’s important to note that you cannot practice trading binary options without funding a live account. The demo account serves primarily as a tool for users to familiarize themselves with the trading platform and its features.

Bonuses & Promotions

Welcome Bonus

IQCent has a tiered bonus structure for new traders. Depending on the amount of the initial deposit, you can receive:

20% bonus for deposits between $0 and $250
50% bonus for deposits between $250 and $1000
100% bonus for deposits of $1000 or more

To withdraw bonus funds, traders must achieve a total turnover of three times the bonus amount within three months. Users can also choose to opt-out of bonuses during registration.

Trading Contests

Keep an eye out for trading contests that offer cash prizes, account bonuses, and high-tech gadgets. Typically, winners are determined by the number of trades executed within a week. These competitions generally run from Sunday at 9 PM (GMT) to Sunday at 8:30 PM (GMT), and all IQCent traders are automatically entered.

Refer a Friend Program

Traders can also earn bonuses through IQCent’s referral program. By sharing a unique referral link provided with live accounts, users can receive a 20% bonus for referring friends and family. These promotional funds can be withdrawn or used for trading.

Regulatory Oversight

IQCent does not possess a license from a top-tier financial regulator. While this is relatively common in the industry, it means that users may have limited protections in the event of brokerage insolvency. Consequently, traders may not have access to investor compensation schemes.

Although IQCent lacks strict regulation, the broker employs industry-standard security measures, including 256-bit SSL encryption for transactions and 3D secure processing for payments. Client funds are securely held in European banks.

Pros and Cons of IQCent

Pros

Copy trading feature available
Competitive payouts up to 95%
Supports cryptocurrency deposits
Minimum trade size of $0.01
Fast account verification times
Range of supported trading strategies
Double-up, rollover, and sell-out options
Offers turbo, intra-day, and long-term binary options
Various account bonuses and financial incentives
Access to over 100 assets across forex, stocks, commodities, and cryptocurrencies
Proprietary trading platform equipped with technical analysis tools and TradingView data

Cons

Lack of regulatory oversight
Limited demo account functionality
Minimum deposit requirement of $250
Absence of a proprietary mobile app
No MetaTrader 4 integration
Limited educational resources and tutorials

Customer Support

IQCent provides multiple support channels, including an email form, a telephone number, and 24/7 live chat through the website and platform. Note that you must have a registered trading account to access one-on-one video chat support.

The website features a basic FAQ section addressing simple inquiries, such as trading on the platform and verifying your account. However, it lacks detailed support for more complex issues, like trade availability or platform malfunctions.

During our testing, we found that IQCent's response time was slower compared to other brokers, such as Pocket Option, Videforex, and RaceOption.

Should You Trade Binary Options With IQCent?

IQCent presents a robust binary options trading platform featuring over 100 assets, copy trading, and competitive payouts of up to 95%. Alongside binary options, leveraged CFDs are available, along with welcome bonuses for new users.

However, the platform could enhance its demo account functionality and provide more educational content for novice traders. The absence of regulatory oversight may also raise concerns for some investors.

Overall, IQCent is a legitimate binary options broker, offering competitive trading conditions, useful additional features, and enticing payout options.

FAQ

How Does Binary Options Trading on the IQCent Platform Work?

To trade on IQCent, select the asset you want to speculate on, choose the option type and expiry time, enter your stake, and confirm your price prediction by selecting either up or down. Traders can utilize features like double-up, rollover, and early sell-out to enhance their trading strategies.

Does IQCent Offer a Welcome Bonus?

Yes, IQCent provides tiered welcome bonuses based on the size of your initial deposit, with potential bonuses ranging from 20% to 100%, up to $1000 in promotional capital available.

How Can I Withdraw Money From My IQCent Account?

To withdraw funds, log in to your account, select ‘Funds,’ and then click on ‘Withdrawals.’ Choose your preferred payment method and enter the withdrawal amount. Note that withdrawals will only be processed once your account is verified.

If you encounter any issues or experience prolonged withdrawal times, contact IQCent's customer service for assistance.

Who Owns IQCent?

IQCent is owned by Wave Makers Ltd., a company based in the Marshall Islands. Its customer base spans multiple countries and continents.

How Do I Verify My IQCent Account?

Verification requires you to upload identity documents, such as a passport or utility bill. This process aligns with IQCent's KYC protocols and is mandatory for all withdrawal requests.

Is IQCent Regulated?

No, IQCent is not regulated, which may raise concerns about potential scams. However, this lack of regulation is common among binary options brokers. The brand is owned by Wave Makers Ltd., which also operates another established brand, BinaryCent.