IQcent is a binary options broker that is often discussed on trader forums . But should you trust it? There are many conflicting reviews online: some praise the platform for its convenience and high profitability, while others complain about problems with withdrawals and non-transparent trading conditions.
Want to know the whole truth about the IQcent broker? We didn't just study it, we personally tested it on a real account! In our exclusive review, we will tell you everything you won't find anywhere else.
Content:
- Main characteristics of a binary options broker
- General information about the broker IQcent
- Trading conditions
- Features of registration and verification with the broker IQcent
- Trading platform and its capabilities
- Unique offers from IQcent
- IQcent broker reviews
- IQcent steals your money
- Conclusion
Main characteristics of a binary options broker
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Main sites |
iqcent.com, iqcent.site, iqcent.cc |
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Date of foundation and place of registration |
2017, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 |
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Regulator name |
- |
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Supported languages |
English, Spanish, Russian, Hindi, Indonesian, Portuguese and French. |
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Trading platform |
Web Terminal |
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Minimum deposit |
$50 |
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Minimum investment amount |
$0.01 |
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Maximum payout amount |
Up to 95% (Turbo Options on OTC Market) |
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Bonus size |
Increased payouts up to 3%, Deposit bonus up to 200%, up to 500 free rollovers, tradeback up to 2% of the transaction volume |
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Supported assets |
Currencies (25 pcs), Cryptocurrencies (7 pcs), Commodity Market (1 pc), OTC Market (Currencies - 24 pcs), OTC Market (Cryptocurrencies - 8 pcs), OTC Market (Commodity Market - 3 pcs), OTC Market (Indices - 8 pcs), Forex CFD (Currencies - 25 pcs), Forex CFD (Cryptocurrencies - 9 pcs), Forex CFD (Commodities - 3 pcs), Forex CFD (Indices - 7 pcs) |
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Types of options |
Call and Put with expiration period from 5 sec to 1 month |
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Type of trading instruments |
Currencies, Cryptocurrencies, OTC Market, Commodities, Stocks, Indices, Forex & CFDs |
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Account currency |
USD, EUR, GBP, RUB |
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Methods of depositing and withdrawing funds |
credit cards (VISA/Mastercard), bank transfer, Bitcoin, Ethereum, Litecoin, Altcoins |
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Availability of a demo account |
Available for $10,000 |
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Conducting tournaments |
Yes |
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Educational materials |
Educational site - https://iqcent.trade/ |
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Analytical materials |
Yes |
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Contact support |
Via the feedback form on the website, chat in the platform, email |
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Mobile platform |
No |
General information about the broker IQcent
The IQcent binary options broker website is available in seven languages: English, Spanish, Russian, Hindi, Indonesian, Portuguese and French. On the first page, the broker promises each user the opportunity to earn up to 98% in just 5 seconds. However, before trusting your money, it is important to understand the reliability of this company.
According to the "User Agreement" on the website, IQcent is operated by Wave Makers LTD (registration number: 103581), which provides access to its website and related services. Wave Makers acts on behalf of FGC, claiming that the latter has a license to provide financial services.
According to the documents, the company Finance Group Corp. (FGC) is located at the following address: Transpacific House, 2nd Floor, Line Highway, Port Vila, Vanuatu. It acts on behalf of a third company, Clever Technologies Ltd., as an agent. It is obvious that such a complicated corporate structure was created for three purposes: to hide the true owners of the business, to limit the liability of the parent company (essentially, protection from lawsuits) and illegal activities. There are no other reasons to create such a “matryoshka doll” of companies.
Domain registration
According to the public domain name database Whois, the resource iqcent.com was registered on January 30, 2017, as indicated in the registry.
Broker Iqcent uses several domains: iqcent.site, iqcent.com and iqcent.cc. According to SimilarWeb, the main traffic to these sites comes from Germany (16.19%), France (13.79%) and Ireland (9.92%).
Promotion in social networks
There are no official groups of the binary options broker IQcent on the social networks VKontakte and Telegram. However, there is a channel in Telegram that probably promotes this broker under the affiliate program, as well as a dubious bot Iqcent_bot with the company logo, allegedly intended for NFT trading.
In addition, the IQcent broker actively promotes itself on the YouTube video hosting site using custom videos from popular bloggers.
There is also information about its work in other social networks. For example, this broker is actively discussed on Reddit, and most of the comments about it are negative. Here is an example: " How to Fast Withdrawals from IQcent ". As a rule, traders complain about problems with withdrawals. We will consider reviews about IQcent in more detail later in this review.
X(Twitter)
IQcent has an official channel on the social network X (Twitter) with more than 2,000 subscribers. Judging by the registration date, this project began actively promoting itself in March 2020.
The trading platform attracts customers with raffles of valuable prizes, as well as holiday promotions and bonuses.
Meta(Facebook)
IQcent has an official Facebook page with 176 followers, which almost completely duplicates their Twitter channel.
Meta(Instagram)
This project also has an Instagram page.
The page on this network appeared in January 2018. Place of registration – Ukraine.
Support site
To support novice traders, the IQcent broker has created a specialized website. On it, you can find out the latest company news, get promotional codes, study the features of working with the trading platform, and also get acquainted with the registration and verification procedures.
An interesting detail: the pages of this online resource mention the possibility of downloading the IQcent broker application for Android and iOS. However, no application actually exists, and under the Google Play and App Store buttons there is a link to a mirror of the iqcent.cc website.
Licenses and Regulations
According to information from publicly available sources, the IQcent broker appeared in January 2017. At least, this is when its domain was registered. Perhaps the business owners simply purchased it with this registration date to give their project more credibility in the eyes of potential clients. However, given that the active promotion of this binary options broker's services began much later - only in April 2020, it remains unclear what exactly IQcent was doing during these three years.
If you read the company's "User Agreement" carefully, it becomes obvious that it only provides access to any individuals and legal entities to its web page and some "related services." There is no talk of any trade.
It looks like IQcent doesn't exist. It's just a brand name, which is not registered anywhere. The global trademark database knows nothing about it.
This trademark is allegedly owned by a certain Wave Makers LTD, acting as if on behalf of a third company – FGC, which in turn does business in the interests of Clever Technologies Ltd. There is nothing special to add here, the “very honest and transparent” ownership structure is immediately visible. Usually such complex chains of companies are created for money laundering and other illegal activities.
Most likely, there is no Wave Makers LTD with registration number 103581. At least, it was not possible to find it in the open registers.
There are two UK companies with a similar name and one in Hong Kong. Both are in the media industry and have nothing to do with financial services.
Address
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960
IQcent's registration location is quite exotic. It is located on an atoll in the Pacific Ocean, surrounded by endless waters.
Customer support
Binary options broker IQcent has a good customer support system, especially for beginners. We received quick answers to all our questions sent via the online chat on their website. The support team responded quickly to questions related to withdrawals, but it is not very helpful. But more on that later.
In general, the support service is available via chat on the website, in the trading terminal and email: [email protected]
Trading conditions
The broker's official website states that clients have access to four types of accounts: bronze, silver, gold and VIP. In addition, you can open a free demo account, which is available for all types of accounts.
Do you think that replenishing an account is a simple and clear procedure? Not so! It turns out that the minimum deposit amount in IQcent depends on the payment method you choose and the country you are in. As explained to us in customer support, in order to find out the exact amount of the minimum deposit, you need to register on the trading platform, log in and click the “ADD FUNDS” button in the upper right corner of the site. The table above shows the approximate amount of the minimum deposit broken down by account. For example, for a bronze account, it can vary from $50 to $250.
Now we have a logical question: what about all the other bonuses and privileges described? Will it not happen that after replenishing the balance, we suddenly find out that we are using the wrong means of payment, or are in the wrong place to receive them?
We contact support: “ I have a question about trading accounts. If the minimum deposit depends on the method of replenishment and my location, then what about the other trading conditions and account types? Will you pay a deposit bonus and give free rollovers, as stated on your website? Or again say that I live in the wrong place, use the wrong payment method, etc.? ”
Unperturbed, Monica replies that only the size of the initial deposit depends on our place of residence, and all other bonuses will remain in force.
Withdrawals and fees
If you want to withdraw amounts of $1,800 or more, you must first verify your identity and age. Without this, IQcent will not transfer the money to your account. The processing times for requests are specified in the "User Agreement". Here they write: "They are usually processed within an hour. However, if there is not enough client data or there is a delay on the partners' side, the processing time may increase."
Please note that the binary options broker IQcent has turnover requirements. If a client wants to withdraw funds from an account without fulfilling this requirement for initial and subsequent deposits, they will have to pay a service fee of 20% of the withdrawal amount. (In fact, this rule does not work, because until you meet the turnover requirement, you will not have the button to withdraw funds).
The broker warns that after the withdrawal is approved by the IQcent financial service, you will have to wait 5-6 business days for the money to arrive in your bank account. Please note that transferring large amounts may take longer due to fraud checks by correspondent banks and the receiving bank (this only applies to bank transfers).
As you can see in the picture above, our withdrawal was not approved due to insufficient trading volume. In our opinion, it is the client's personal business how often and with what volume to make trades, but this broker thinks otherwise. This is another of its shortcomings. All trading conditions are designed so that the trader loses his capital as quickly as possible. But you can't take us so easily: after trading a little more, we reached the required turnover and sent a request for withdrawal again.
This time everything worked out. Now all that remains is to wait for our withdrawal request to be approved by the IQcent financial service. We are waiting impatiently!
How to start trading in IQcent
You can start trading with the IQcent broker in three simple steps:
- Register
- Top up your account
- Start trading
Features of registration and verification with the broker IQcent
It is very easy to create a new account. To do this, find the "Registration" panel on the main page of the site and fill in the required fields.
Do not forget to select the account currency and confirm your agreement with the user agreement by checking the corresponding checkbox. Note that the IQcent broker does not care about users providing reliable information. When registering on the platform, you do not automatically receive a letter to confirm your email address. To receive it, you need to go to your profile settings and click the “Verify Email” button.
After this, you will receive an email to the email address you specified during registration to confirm your email address.
To increase the security of your account, we recommend activating the two-step authentication (2FA) app - Google Authenticator. To do this, go to the “Security” section, click the “Enable Google Authenticator” button and follow the instructions on the screen.
If necessary, you can also change the password for accessing your trading account here. Before replenishing it, we recommend that you definitely pass verification so that there are no problems in the future when sending a request for withdrawal of funds , which is the case with most binary options brokers.
As we can see, the IQcent trading terminal directly states the need to go through this procedure before sending a request for withdrawal of funds.
The verification of clients in IQcent itself raises questions:
- Unclear wording: "The company has the right to require the client to confirm his identity and the information provided during registration" - it is unclear when and under what conditions the broker can require verification.
- Vague requirements: "At any time, the Client may be requested to provide an electronic copy, a certified copy or a notarized copy of the passport (at the discretion of the Company)" - it is not clear what type of passport copy is required.
- Voluntary verification: "If the Client has not received a request to provide documents, the enhanced verification procedure is not mandatory, but the Client can voluntarily send a copy of the passport or other identity document" - it is unclear why the broker allows clients to undergo verification voluntarily, if according to its own statement it is not mandatory.
In our opinion, IQcent's client verification appears opaque and ambiguous. This raises doubts about the reliability of this broker and its commitment to KYC (Know Your Customer) rules.
Trading platform and its capabilities
The IQcent platform is designed for trading:
- Forex CFDs – contracts for difference on currency pairs, cryptocurrencies , commodities and indices.
- Binary options – betting on the price of an asset to rise or fall over a specified period of time.
- Copy trading – copying the trades of experienced traders.
The main panel of the IQcent trading platform allows you to easily switch between a demo and a real account. This will allow you to try new trading strategies without the risk of losing real money, get acquainted with the platform and its tools, and make sure that you are ready to trade on a real account. You can switch between accounts with just one click.
Top up your IQcent account and withdraw money from the site
In the personal account of the IQcent broker, you can specify payment details, deposit and withdraw funds, and view the transaction history.
By clicking the “Activate” button, we go to the section of bank cards, electronic payments and cryptocurrencies. Depending on the location of a particular client, the corresponding payment methods will be available to him: using credit cards (VISA/MasterCard), bank transfer, Bitcoin , Ethereum , Litecoin and other altcoins.
Assets
Users have access only to the standard Web-Terminal and a relatively small number of assets. There is no mobile version of the trading platform.
The following assets are available for trading:
- Currencies (25 pcs)
- Cryptocurrencies (7 pcs)
- Commodity market (1 piece)
- OTC Market (Currencies - 24 pcs)
- OTC Market (Cryptocurrencies - 8 pcs)
- OTC Market (Commodity Market - 3 pcs)
- OTC Market (Indices - 8 pcs)
- Forex CFD (Currencies - 25 pcs)
- Forex CFD (Cryptocurrencies - 9 pcs)
- Forex CFD (Products - 3 pcs)
- Forex CFD (Indices - 7 pcs)
Having analyzed the list of assets available for trading, we can conclude that the binary options broker IQcent mainly uses drawn quotes (OTC market). It should be noted that Forex CFD instruments are only available on real accounts, and you will not be able to try them in demo mode.
Payments
The percentage of payouts on transactions depends on your account type: on bronze accounts the standard payout is 75%, silver accounts - 75%+1%, gold accounts - 75%+2%, VIP accounts - 75%+3%.
- OTC currencies - 95%, real quotes - 75%
- OTC cryptocurrencies - 95%, real quotes from 40% to 75%
- OTC products - 95%, real quotes up to 75%
- OTC Indices – 75% to 95%
Transactions Journal
The IQcent trading platform has a built-in transaction log , which makes it quite easy to track your trading activity: what transactions you made, when, on what instruments and with what result.
Disadvantages of the trading platform
Among the disadvantages of the platform, we note the lack of a timer until the end of the current candle, which is very inconvenient for traders who decide to open a position at the close of the candle .
Any exact time service on the Internet will help solve this problem, for example, budilki.ru. If you open this site on the adjacent tab with the trading terminal, you can see how many seconds are left until the current bar closes.
In general, the IQcent binary options broker platform is unstable and periodically freezes, giving an internal server error.
Another version of the platform “freezing” looks like this.
Judging by the support chat, we weren't the only ones having problems with the platform.
The support's explanation of the reasons for the freezes once again confirms the lack of professionalism of the IQcent broker's employees. As they explained to us in support, the reason for the poor performance of their terminal is its update, which the technical department arranged right in the middle of the day trading session. Big deal, people have open trades for thousands of dollars. They have an update...
Signals
The IQcent platform offers its clients daily free trading signals . Theoretically, they help save time on independent search for trading opportunities, and help to avoid impulsive and emotional transactions. However, we do not know what algorithms they are based on. Therefore, they should not be trusted.
Safe
In the “Turbo Safe” section, you can place your free funds at interest for a fixed period: 7, 30 or 365 days. Thanks to this service, you can receive daily profit based on the available annual yield rate APY and the options trading turnover over the past 30 days. A “flexible mode” is also available, in which the user can (supposedly) withdraw the funds placed in the safe at any time. In this mode, daily payments are significantly lower.
Copy trading
In the “Copy Trading” section, you can copy the trades of the 10 most successful traders over the last 30 days. To start, select a trader, enter the desired trade size and click the “Copy” button.
In addition to this, in the “Online Deals” section there is the opportunity to “spy” on the most successful deals of this broker’s clients.
Competitions
IQcent holds weekly contests with a prize pool of $20,000 for 19 winners. It is quite difficult to estimate the chances of winning the prize.
Market Analysis
In the Market Analysis section you will find the latest news, a calendar of events for the coming week and an overall assessment of the Tradingview platform's technical indicators for the selected asset and timeframe.
Help
In the Help section, traders will find answers to basic questions about trading, account management and security.
Trade statistics
In the "Statistics" section you can see data about your trading: number of transactions, turnover, profit and percentage of profitable transactions per day, week, month or selected period.
Market
There are many bonuses and offers available in the IQcent “ Market ” to help you improve your trading.
Referral program
In the “Invite a Friend” section, you can join the IQcent referral program and receive 20% of deposits made by friends you invite.
Customer support
Trading modes
Binary options
Please note: Intraday and Long-term trading modes are available only for market instruments - not OTC.
The IQcent platform offers its clients three modes of binary options trading:
Turbo – suitable for experienced traders who want to make deals quickly. Deals in Turbo mode last from a few seconds to several minutes.
Intraday – a classic BO trading mode that is suitable for traders with any level of experience. Transactions in this mode can be concluded during the day with an expiration period of 1 hour.
Long-term – suitable for traders who prefer long-term strategies. Transactions in this mode last from several days to one month.
If you want to start trading with minimal amounts, the IQcent platform provides the ability to make deals in the cent mode. To activate it, simply switch the icon in the upper right corner of the chart from "$" to "C", which means cents. In the cent mode, you can make deals from 1 cent. This is a great way to start trading if you have a limited budget or want to test a new trading strategy.
Forex & CFD
In addition to binary options, IQcent broker clients can trade Forex and contracts for difference (CFD). To start trading these instruments, go to the “Forex & CFD” tab. This will open the TradingView terminal workspace.
On the right panel you can select the trading direction, order type, set the position size and specify price levels for stop loss and take profit orders.
Traders have access to two types of orders – market and pending:
- A market order is a request to a broker to immediately buy or sell an asset at the best available price. It is guaranteed to be executed and is ideal for situations where speed of decision-making is important.
- A pending order is a request to a broker to buy or sell an asset at a price you specify or better. It is used when a specific execution price is important or to avoid emotional trading.
When you select the pending order mode, an additional field appears for entering the order price.
The TradingView terminal provides 104 indicators that fans of technical analysis will certainly appreciate. At the same time, the IQcent broker provides the opportunity to open positions with a leverage of 1:500. In this case, the margin requirements for opening a deal will be automatically calculated and displayed in the “Cost” window.
Platform settings
The “Settings” menu allows you to fully personalize the IQcent platform to suit your needs.
In this section you can edit your personal data, set a password, go through verification, withdraw funds and receive various notifications.
Unique offers from IQcent
Binary options broker IQcent announces a number of unique offers:
- Copytrading – a service for copying trades of the best traders of the month
- Online Deals – allows you to see the most successful deals of the company's traders
- Safe - allows you to get passive income
- Forex and CFD Trading – Forex and CFD trading with 1:500 leverage on Tradingview charts
- Signals - Daily Free Trading Signals
- Lottery – to participate, you must activate the offer in the Market and top up your account with at least $250.
IQcent broker reviews
There are a lot of negative reviews about the binary options broker IQcent. Most traders complain about the impossibility of withdrawing earned funds. As soon as a trader sends a request for withdrawal of funds, problems immediately begin: the account is blocked, the order for withdrawal of funds is rejected, the trader is forced to go through additional verification steps.
IQcent steals your money
The main complaint about the “broker” IQcent is its complete unwillingness to pay out earned profits, which we personally saw for ourselves after making a deposit, fulfilling all the conditions for the required volume of traded capital and ordering a withdrawal of funds.
The company refuses to pay out under various pretexts, which makes it a scam project that you should stay away from. Neither the verification that was passed, nor the requests to the support service, nor the fulfillment of all other conditions specified in the client agreement helped. We gave the broker a whole month for any checks and confirmations, but we still did not see our deposit. Well, at least now we know for sure that the negative reviews about IQ Cent are not the malicious intent of competitors or empty blackmailing. This broker is simply a scam project with expensive advertising from unscrupulous influencers.
As evidence, we will provide the response of the financial service of this “broker” to our letter asking for an explanation for the delay in withdrawing profits.
In this letter, this scam broker makes a fake apology for canceling our withdrawal request without stating the reason, and says that everything has supposedly been fixed. Now there are no obstacles and we can re-submit the withdrawal request. We did so, after which the scam broker IQcent blocked us by IP address.
In addition, IQcent cannot boast of stable operation of its own trading platform. Periodic freezes and charts are a bad sign. This means that this pseudo-broker can cancel any of your transactions due to a supposed "technical failure".
If we add to this the artificial delays in opening trades (in our personal experience, about 15 seconds), which this scam broker brazenly uses, and because of which you actually open a position at a completely different price than you originally planned, it becomes obvious that it is clearly not worth opening an account with them.
Conclusion
IQсent positions itself as a reliable binary options broker, offering a wide range of trading instruments and, at first glance, quite attractive conditions. However, both our practical experience and a thorough analysis of reviews and information about this, so to speak, “broker” revealed a number of questionable points, among which a special place is occupied by the impossibility of withdrawing funds and delays in payments by this scam project.
In addition, the company's opaque structure, lack of a license and unreliable information about its registration cause mistrust. And risky trading offers, such as copy trading and investing in "Safe", make you think even more. To this you can add attractive, but unsubstantiated promises to win a valuable prize or take prize places in a competition. Therefore, we believe that cooperation with the binary options "broker" IQcent carries significant, if not guaranteed, risks of capital loss for traders.
To find a suitable company, we recommend that you familiarize yourself with the rating of reliable binary options brokers on our website. Remember that any investment is associated with risks . Before transferring your funds and starting trading, carefully study the information about the broker and never invest more than you can afford to lose.
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