IQCent Broker Review
IQCent is a binary options and CFD broker with a $20 minimum deposit and payouts up to 98%. We explore its features, advantages, and drawbacks for traders.
Our Rating
Minimum Deposit
$20
Maximum Payout
Up to 98%
Demo Account
Available After Deposit
Regulation
IFMRRC
Requires a minimum deposit of $20 to open an account
Pros
Low Minimum Deposit
Only $20, making the platform accessible for beginners.
High Payouts
Up to 98% on binary options, above the industry average.
Copy Trading
Copy trading feature for beginners and busy traders.
Fast Withdrawals
Cryptocurrency withdrawals processed within 1 hour.
Cons
Lack of Strict Regulation
IFMRRC license does not provide robust protection.
Withdrawal Complaints
Some users report delays and issues with withdrawals.
Limited Stock Options
Only 4 stocks available for CFD trading.
Demo Account Requires Deposit
Demo account access only after funding a real account.
In-Depth IQCent Review
Regulation and Security
Operated by Wave Makers Ltd. (Majuro, Marshall Islands), IQCent holds an IFMRRC license, but this regulator is not as stringent as FCA or CySEC. The lack of oversight by major authorities and reported withdrawal issues raise concerns. The platform employs 256-bit SSL encryption and offers two-factor authentication (2FA), but client funds are not held in segregated accounts. Traders should exercise caution due to its offshore status and mixed reviews.
Trading Assets
IQCent offers over 100 assets for binary options and CFD trading, including:
Currencies (Forex)
EUR/USD, GBP/JPY, etc.
Cryptocurrencies
BTC, ETH, SHIB, etc.
Stocks
TSLA, NVDA, etc.
Commodities
Gold, Oil, etc.
Binary options offer payouts up to 98% with a minimum contract duration of 1 minute. CFDs provide leverage up to 1:500. Trading is available 24/7, including weekends for cryptocurrencies.
Trader's Toolkit
Platform Type: Proprietary web platform with TradingView integration, accessible via browser and mobile apps (iOS, Android).
Charts and Analysis: Basic tools including indicators (RSI, Bollinger Bands) and Fibonacci levels, but no MetaTrader support.
Special Features: Copy trading, daily market analysis, and trading contests with prizes up to $20,000.
Mobile App: User-friendly but with reported occasional glitches and slow trade verification.
Cost Breakdown: Fees and Payouts
IQCent charges no fees for cryptocurrency deposits or withdrawals, but a 5% fee applies to card transactions. Bonuses up to 200% require a turnover of 3x the deposit plus bonus. Option payouts reach up to 98%.
| Fee Type | Rate/Cost | Conditions/Notes | Our Assessment |
|---|---|---|---|
| Deposit Fee | 0% (Crypto), 5% (Cards) | Third-party fees may apply. | Moderate |
| Withdrawal Fee | 0% (Crypto), 5% (Cards) | Turnover required for bonuses. | Moderate |
| Option Payouts | Up to 98% | Depends on asset and conditions. | High |
| Inactivity Fee | $10/month | Charged after 3 months of inactivity. | High |
Fee Summary: No fees for crypto transactions and high payouts are attractive, but card fees and inactivity charges lower the overall rating.
Fund Transactions: Deposits and Withdrawals
IQCent supports cards, cryptocurrencies, and bank transfers. Withdrawals are processed within 1 hour, but users report issues with verification and delays.
| Method | Deposit | Withdrawal | Broker Fees | Min. Deposit | Min. Withdrawal |
|---|---|---|---|---|---|
| Visa/Mastercard | 5% | $20 | $20 | ||
| Cryptocurrencies (BTC, ETH, USDT) | 0% | $20 | $20 | ||
| E-Wallets | 0% | $20 | $20 | ||
| Bank Transfer | $50 | $5000 | Not Specified |
Note: Withdrawals require strict verification. Bonuses impose a 3x turnover (deposit + bonus). Complaints about delays and rejections warrant caution.
Our Verdict
IQCent offers a low entry barrier ($20), high payouts (up to 98%), and useful features like copy trading. However, the lack of strict regulation, withdrawal complaints, and limited stock options make it a risky choice. We recommend testing the demo account after a minimum deposit and considering regulated alternatives like eToro or Plus500.
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