IQCent is a well-known name in the binary options trading space. So, chances are you’ve heard about it. But with so many binary options brokers out there, it’s natural to have questions. Is IQCent legit? How to trade on IQCent? And most importantly, can you trust them with your money? While reading online IQ Cent reviews is not enough, it can give you a sense of how things really are.

As someone who’s been trading for over five years, I know full well how important it is to choose the right binary options broker. That’s why I wrote this IQCent review. I’ll actually walk you through everything you need to know about the broker and its features and whether it’s worth your time.

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Key Takeaways

• IQCent offers a simple, user-friendly interface with features like copy trading and TradingView integration.
• With a minimum deposit of $20 and trade sizes starting at $0.01, IQCent is accessible to all traders.
• The platform provides competitive payout ratios, with some trades offering up to 95% returns.
• IQCent is an offshore broker registered in the Marshall Islands and not regulated by major financial authorities, which may be a concern for some traders.
• While many users praise its features and bonuses, there are recurring complaints about withdrawal delays and limited transparency.

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What Is IQCent?

IQCent is an online trading platform that started in 2017. The IQCent broker began offering online trading services in 2020. The company is based in Majuro, Marshall Islands. 

IQCent broker offers a variety of trading options, including binary options, forex, CFDs, commodities, and cryptocurrencies. Yet, I’ll focus on binary options. The platform provides over 100 assets you can trade, which include stocks, commodities, forex pairs, and indices.

IQCent is also known for its user-friendly binary options trading platform and features like copy trading. It also offers competitive payouts, with some trades yielding up to 95%. 

Is IQCent Legit or a Scam?

IQCent is an offshore binary options broker in the Marshall Islands. Major financial authorities do not regulate it. So, while IQCent is not regulated by any major entity, it’s overseen by the International Financial Market Relations Regulation Center (IFMRRC), which is a non-governmental organization that also oversees other top binary options brokers like Quotex and Pocket Option.

Operating without strict regulatory oversight means there’s less external monitoring of its activities. This can be a concern for those of you who like to trade on regulated brokers. Yet, this is a common theme in the binary options trading space.

Yet, regarding other security measures, the platform uses 256-bit SSL encryption. This helps secure users’ transactions and personal information.

While I’ve not traded with the broker for a long time, a lot of online sources I’ve checked to write this IQCent review have rated this platform well. So, by the look of things, we could say that IQCent is legit.

Account Types

The IQCent broker provides you with three real account types: Bronze, Silver, and Gold, accompanied by a demo account. Here’s a breakdown of each:

Bronze Account

• Minimum Deposit: $20.
• 20% deposit bonus.
• Access to the copy trading tool.
• 24/7 live video chat support.
• Withdrawals are processed within one hour.
• Demo account availability.

Silver Account

• Minimum Deposit: $1,000.
• 50% deposit bonus.
• All Bronze account features.
• Master class (web session).
• First three risk-free trades.
• Personal success manager.

Gold Account

• Minimum Deposit: $3,000.
• 100% deposit bonus.
• All Silver account features.
• Increased binary options profit ratio.

Demo Account

If you like to practice binary options trading without risking real money, there’s an IQCent demo account. You also get familiar with the platform and test your binary options strategy with virtual money.

If you are interested, check out the list of the best binary options demo accounts for more choices.

Trading Platform Review

The IQCent broker has a web-based trading platform that is accessible to different kinds of devices. You can also download IQCent apps for both mobile and desktop use. So, let’s continue our IQCent review by briefly analyzing each interface.

Web and Desktop Platforms

The web and desktop platforms are clean and simple, especially for beginners. Yet, advanced charting tools and features are still available. Technical indicators for volume, momentum, volatility, and trends, as well as drawing tools, are all accessible for you to apply to your charts.

Yet, two primary things that stand out for me are the ability to trade on TradingView charts with a click of a button and the ability to easily switch between your binary options account and the CFD trading account. The TradingView integration is especially helpful for traders like me who prefer to have the customization and sleekness of TV charts everywhere.

Meanwhile, a drawback that I’ve found out is that the chart types are limited to candlesticks, ticks, and the TradingView chart. So, there are no other options like Heiken Ashi and Renko charts.

Mobile Application

The IQCent mobile app works on both iOS and Android devices. It has all the essential functionalities of the desktop/web version. It’s also very easy to use, and you can monitor and execute trades anytime.

To download the IQCent mobile app, visit the IQCent website and select the appropriate version for your device. The app is also available on the iOS App Store and Google Play Store.

Read More: OBSignals Review 2024

Promotions and Bonuses

I won’t delve too deep into the promotions and bonuses in this IQCent review, but you should know that they are available from time to time. Some of the primary IQCent bonuses and promotions include:

• Deposit Bonuses: You can receive bonuses ranging from 20% to 100% based on your initial deposit amount with IQCent deposit bonuses. For example, a deposit between $0 and $250 may yield a 20% bonus, and deposits over $1,000 can secure a 100% bonus.
• Trading Contests: There are weekly trading contests and IQCent tournaments, and the winners receive cash prizes. This is clearly a marketing scheme by the broker, but that doesn’t make it wrong for you to compete for more funds.
• Referral Program: The IQCent referral program offers a 20% bonus if you refer friends or family to the platform. You can also join the referral program to potentially have another income stream on the side.

Trading Conditions

Let’s continue our IQCent review by analyzing trading conditions like tradeable assets, fees, and payout ratios for binary options. The assets you can trade include:

• Forex: Major, minor, and exotic currency pairs.
• Indices: Global stock indices.
• Commodities: Precious metals, energy resources, and agricultural products.
• Cryptocurrencies: Popular digital currencies.

Regarding fees and spreads, IQCent broker does not charge any fees for binary options trading. Yet, the payout ratios are as follows:

• Forex Pairs:  Payouts range from 60% to 85%, depending on the currency pair and market conditions.
• Commodities: Trading commodities like gold and silver can yield payouts of up to 75%.
• Cryptocurrencies: Payouts vary between 20% and 75%, reflecting the volatility of digital assets.
• Indices: Specific payout ratios for indices aren’t detailed, but they are competitive.

Also, remember that the maximum payout IQCent offers is 95%. The specific payout ratios you’ll get depend on your account tier. Moreover, here are the minimum and maximum trade volume limits:

• Minimum Trade Size: $0.01, which is accessible for everyone.
• Maximum Trade Size: Varies by account type:
  • Bronze Account: Up to $250 per trade.
  • Silver Account: Up to $1,000 per trade.
  • Gold Account: Up to $5,000 per trade.

Option Types

The IQCent broker has three main types of binary options for you to trade:

• Turbo Options: These are short-term trades with expiration times ranging from 5 seconds to a maximum of 30 minutes. Perfect for you if you want to capitalize on quick market movements.
• Intraday Options: These are designed for trades with hourly expiration times. These options provide 24 trading opportunities every day and are ideal if you want flexibility throughout the day.
• Long-Term Options: These trades have daily expiration times and can be executed for up to one month. Great for those of you who prefer a more patient and long-term approach.

Deposits and Withdrawals

A key part of this IQCent review is dedicated to deposits and withdrawals. Here’s an overview:

• IQ Cent Minimum Deposit: $20
• IQ CentMaximum Deposit: $100,000

Withdrawal Process

Here are the minimum and maximum withdrawal limits for IQCent:

• Minimum Withdrawal: $20
• Maximum Withdrawal: Not specified

Payment Methods

You can fund your account or execute withdrawals using these IQCent payment methods:

• Credit/Debit Cards (Visa/MasterCard)
• Bank Wire Transfer
• Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Altcoins)
• E-wallets (Neteller, Skrill, Perfect Money)

Note that the IQCent broker doesn’t charge deposit fees, but third-party fees may apply.

Withdrawal Time

IQCent claims that it will process withdrawals within one hour after confirmation. However, the time it takes for funds to reflect in your account depends on the payment provider and can vary.

There’s also the possibility of IQCent withdrawal delays. These delays are usually caused by verification issues and inconsistent payment methods. You can always contact IQCent customer support to quickly solve these problems or learn about any steps you might need to take.

IQCent Reviews by Users

IQCent reviews online are quite mixed. Some users praise the platform,  but others raise concerns. Here’s an overview of the general sentiment:

The Good

Many users appreciate IQCent’s trading interface. Beginners especially like the platform as it’s very easy to use. The TradingView interaction is also another thing that many positive IQCent reviews mention.

Most traders are also satisfied with the platform’s features, like copy trading, bonuses, and 24/7 customer support.

The Bad

While checking the IQCent reviews on forums, I’ve encountered recurring complaints about withdrawal delays. On platforms like Reviews.io, traders have shared frustrations about slow processing times. The customer support is also seemingly unresponsive sometimes.

On Reddit, IQCent reviews are divided. Some recommend IQCent for its low minimum deposit and small trade sizes. Others state that the fact that IQCent is not regulated can lead to potential fraud and scams.

Personal Verdict

I think IQCent is a promising binary options trading platform.  I really like the features and trading tools. The design is also beautiful, in my opinion. However, I don’t have enough experience trading with the platform to state anything notable about withdrawals.

Either way, I think you should first start trading on the IQCent demo account to get familiar with the platform and see whether you like it or not.

Pros and Cons of IQCent

Here’s a quick overview of the broker’s strengths and weaknesses to wrap up our IQCent review:

Pros

• Super Easy to Use: As I’ve mentioned multiple times in this IQCent review, the platform looks sleek and is simple to use.
• Low Minimum Trade Size: You can start trading with as little as $0.01, which is the IQCent minimum deposit.
• Copy Trading Feature: You can replicate the trades of successful binary options traders.
• Bonuses and Promotions: IQCent deposit bonuses of up to 100% and trading contests with cash prizes are quite attractive.
• 24/7 Customer Support: Live chat support is available at all times.

Cons

• Lack of Regulation: The elephant in the room is that IQCent is not regulated by government entities like many other offshore brokers.
• Withdrawal Delays: Several online IQCent reviews mention slow withdrawal processing times.
• Limited Transparency: Not much information is available about the company’s history and leadership.

By weighing these pros and cons, you can determine if IQCent is a binary options broker you want to invest in. If not, check out our Brokers page for alternatives.

Conclusion

IQCent is one of those binary options broker I like. It has a low minimum deposit and trade size. Additional tools like copy trading and the TradingView integration are also positive points.

However, there are areas of concern. The platform’s offshore status and lack of major regulation may be a drawback for some of you. Unfortunately, this is the overall state of the binary options space.

So, is IQCent a legit broker? Well, it’s not a scam. But you should be aware that anything can happen in the absence of proper regulation. You might also not like the features on the platform. So, I advise you to try it out yourself by using the free IQCent demo account without any risk.

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