Is IQcent a scam or not? – Real broker review test
- Accepts international clients
The service that IQcent provides carries high risk; therefore, it is advised not to invest the money that you cannot afford to lose. And if all your funds are lost, the firm is not liable towards any client for the loss of money or other damage caused.
There is some type of risk in each of the investments, but the level of risk is different with different investment types. Therefore, one must possess all the related information before investing in any kind of asset.
Mostly, higher risk comes with the investment that offers higher returns. No return on investment is guaranteed. Those past returns can be different from the future returns, and one can lose all their money too.
IQcent recommends that you must possess the necessary knowledge regarding legal, taxation, financial grounds so that you know that if the particular investment is as per your need or not.
IQcent makes an effort to commence a trade at the desired price as per the client, but it does not reduce the risk of the investment. Therefore, the trade has various forms of terms and conditions related to the agreement.
What you will read in this Post
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 an option to buy or sell a particular financial instrument. You can do binary options trading through platforms like IQcent.
What is IQcent?
IQcent is a newly introduced binary option 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 trading in 2020. The primary location of the platform is in Majuro, Marshall Islands.
The option for opening a demo account is not available in 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 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 comes 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.
IQcent Account Types
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 following.
Types of live accounts available with IQcent:
- Master class
- Copy-trading tool
- Personal success manager
- Withdrawals in sixty minutes
- Demo account
- Video chat support
- 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
- Copy-trading tool
- Bonus up to 20%
- Demo account
- Withdrawals in sixty minutes
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 US territory. Due to legal reasons, certain features of the online trading platform are not available in some countries.
IQcent is a platform on which you can open your account for online trading in the forex world. The trader holds a forex account to speculate in the financial markets. The primary purpose of the online platform is to assist in online trading.
The country in which the speculative broker operates determines the type and number of accounts a trader can have with this online platform.
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, email correctly. If you fill incorrect information, it will cause hindrances in the verification of 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 the 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 in IQcent
You can open any type of account in IQcent with a minimum deposit of $10.
The following methods are available for making withdrawals:
- Bank Wire Transfer
- Perfect Money
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 be multi-asset one also 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 also it doesn’t require downloading any kind of 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 that 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.
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 the professional, and choosing copy trading. Now you can copy all the moves of the professional and also helps you in winning the trade.
This feature is available for both old and new users. The old users can use the tool for making profits in no time, and the new users use this tool for learning the moves from the experts.
Copy-trading also helps minimize the losses and allocate the funds in such assets where the risk is lower compared to other financial instruments.
This feature also helps save the clients’ time because they can simply copy the moves of the expert traders, and it also creates a risk-free environment for the traders.
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 make since you begin with 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 that provides a 20% bonus on the deposits if you share your referral code with your family, friends, and colleagues. To earn the money, all you need to do is share the link with your friends and acquaintances.
The trading platform allows the 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
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.
IQcent charges no fees on withdrawal or deposit, 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.
Tradable goods based on contract trading take place in commodities market it is similar to markets of currency exchange.
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 the participants of the Forex market.
Energy is a popular choice for trading because of its limited availability and very high demand that 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.
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
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.
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.
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 the assistance is available twenty-four hours to reduce the hindrances caused. You can reach the broker’s support team through live chat, phone call, 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 start with trading operations.
It is essential for potential traders to do thorough research about the 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 the experience the speculative trader possesses.
Research is vital for gaining experience and minimizing the 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.
Regulation and Safety
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 the users need to be aware that their funds can be at risk. It is also not clear 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.
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.
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 the investment. The platform is built to give a 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 for trading operations as there is no difficulty operating the website. All your performance reflects on your portfolio like the asset you are trading in, growth of the investment, etc.
Conclusion of my review:
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 hours’ customer support is 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. Furthermore, read what other traders say about IQcent.