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IQCent Account types

iqcent Account Types Review

 

Overall, IQCent offers 3 accounts in USD namely a Bronze account, a Silver account, and a Gold account. A demo account of each is available and an Islamic account is not offered by IQCent.

 

IQCent at a glance

🔍 Broker's nameIQCent
🏛 HeadquartersMajuro, Marshall Islands
📅 Year founded2017
🏛️ Regulating AuthoritiesNot regulated
🌐 Countries not accepted for tradeUnited States
📒 Demo accountYes
☪️️ Islamic accountNot indicated
📒 Institutional accountNot indicated
👮 Managed accountsNot indicated
📊 Maximum leverage1:100
💰 Minimum deposit$10
➕ Deposit optionsVisa, Mastercard, Bitcoin, Ethereum, Altcoins
➖ Withdrawal optionsVisa, Mastercard, Bitcoin, Ethereum, Altcoins
📊 Tradeable assets offeredForex currency pairs, Commodities, Indices, Binary options, Cryptocurrencies
💬 Languages supported on websiteEnglish, Russian, Spanish
💬 Customer support languagesMultilingual
💻 Platforms providedOwn proprietary
📲 OS CompatibilityNot indicated
☎️ Customer service hours24/7

 

Overall Rating

4.3/5

Rated #443 of
Recommended FX Brokers

💰Minimum Deposit

USD 20

🌐 Regulators

not regulated

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

26

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

IQCent Account Types – 10 Key Point Quick Overview Revealed (2022):

  1. ☑️IQCent accounts types and features
  2. ☑️IQCent account deposit and withdrawal methods
  3. ☑️IQCent account types Pros and Cons
  4. IQCent Markets, Products, and Instruments
  5. Cost and Fees, Commissions, and Spreads
  6. Leverage
  7. Bonuses
  8. Trading platforms, software, and its features
  9. Awards and Recognition
  10. Conclusion

 

IQCent is the first binary options broker that accepts trading in cents. Cents is a small minimum trading size of just $ 0.01.

 

IQCent is equipped with the most up-to-date SSL security standard, which ensures the safety of your personal information. In other words, your information is protected by encryption and cannot be accessed by hackers or other malicious actors.

 

IQCent accounts types and features

iqcent account types

 

🔍 Account features🥉 Bronze Account🥈 Silver Account🥇 Gold Account
💰 Minimum deposit$10$1000$3000
💻 Platforms providedOwn proprietaryOwn proprietaryOwn proprietary
📊 Commission charges$3.50 per lotZero commission chargesZero commission charges
⚖️ Leverage1:1001:1001:100
☪️️ Islamic accountNot indicatedNot indicatedNot indicated
📒 SpreadsNot indicatedNot indicatedNot indicated
💬 Margin callNot indicatedNot indicatedNot indicated
🛑 Stop outNot indicatedNot indicatedNot indicated
⭐ Bonus+20%+50%+100%
📒 Demo accountYesYesYes
⏲️ Withdrawal timeWithin 1 hourWithin 1 hourWithin 1 hour
🔄 Copy Trading tool✅ Yes✅ Yes✅ Yes
🎓 Master class (web session)❌ No✅ Yes✅ Yes
🆓 First 3 risk free trades❌ No✅ Yes✅ Yes
⭐ Personal success manager❌ No❌ No✅ Yes

 

IQCent offers traders three account types, giving beginners the option of starting with a small deposit.

 

IQCent does offer the option to open a demo account but to qualify for one a trader has to first open a live account and fund it. Then you can contact customer support to get demo-account credentials.

 

No further information is available on what the virtual balance of the demo account is or for how long it is valid. Demo account assists, especially new traders, in practicing trading on the broker’s platform and using one of the account types in a risk-free environment.

 

IQCent Bronze account

iqcent bronze account

 

The maximum deposit for this account is $1,000, and a bonus of 20% is available if you deposit $250. This account offers 24/7 live video chat support, withdrawals should be processed within an hour and a demo account as well as a copy trading tool are available. The Bronze Account is the beginner’s account that accepts $10 as a minimum deposit.

 

IQCent Silver account

iqcent silver account

 

The Silver account offers 24/7 live video chat support and withdrawals should be processed within an hour. Other features include a demo account, a copy trading tool, a master class (web session), three risk-free trades, and a personal success manager. The Silver Account can be opened with a minimum deposit of $1 000 to $3000 and a bonus of up to 50% may be claimed.

 

IQCent Gold account

iqcent gold account

 

Other features include 24/7 live video chat support, withdrawals in an hour, a demo account, a copy trading tool, a master class (web session), the first 3 risk-free trades, and a personal success manager. The Gold Account is for traders with a minimum deposit of $3 000 and more, with a 100% bonus possible.

 

IQCent Islamic Account

 

IQCent does not offer this option to its Muslim clients.

 

The Islamic account means a Muslim client has an additional swap-free option without being charged during overnight positions of swaps or rollover interests. Some brokers allow live accounts to be converted into an Islamic Account and with others, it is a standalone account with a separate application procedure.

 

IQCent Demo Account

 

The IQCent demo account is a free account to open. It comes with the same features like the live account types and gives traders the opportunity to practice trading without any risk involved. IQCent offers traders the option of opening a Demo Account on any of the three live account types. IQCent’s demo account sign-up is fully digitalized and hassle-free.

 

For the more experienced traders, a demo account can be used to evaluate and compare brokers who would like to explore IQCent’s trading conditions in a risk-free environment. It can also be used by traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

 

IQCent account deposit and withdrawal methods

📒 Payment method➕ Deposit option➖ Withdrawal option
💳 Visa✅ Yes✅ Yes
💳 MasterCard✅ Yes✅ Yes
💳 Bitcoin✅ Yes✅ Yes
💳 Ethereum✅ Yes✅ Yes
💳 Altcoins✅ Yes✅ Yes

 

With IQCent a minimum deposit of $10 is required to open any of the account types. The following methods can be used to fund accounts or make withdrawals:

 

 

Deposits are processed immediately with the exception of Perfect Money which might take up to an hour. Withdrawals usually take about an hour after confirmation has been received that the withdrawal can go ahead.

 

IQCent account types Pros and Cons

✔️ Pros❌ Cons
Demo account offeredNot regulated
Full data protection offeredInformation lacking on the website
Multiple 24/7 customer supportNo MetaTrader4 offered
In-house trading platformIslamic account not offered
No spread lists
Commission charges are not clear
Clients from the US not accepted

 

IQCent Markets, Products, and Instruments

📊 Tradeable assets➕ Available
📈 Forex✅ Yes
📈 Indices✅ Yes
📈 Stocks✅ Yes
📈 Energies✅ Yes
📈 Precious metals✅ Yes
📈 Cryptocurrencies✅ Yes

 

IQCent offers trading on over 100+ trading assets in forex, commodities, indices, and cryptocurrencies. Most brokers offer all or some of the following market instruments for trading:

 

Forex

 

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities

 

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

 

Indices

 

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

 

Precious metals

 

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

 

Energy

 

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

 

Cost and Fees, Commissions, and Spreads

 

IQCent charges no deposit or withdrawal fees but bank fees of third parties might apply especially if you are using a debit or credit card.

 

It is not very clear what spreads are offered with IQcent but according to sources, it is very low spreads. The broker does not charge a commission.

 

Leverage

 

IQCent allows a maximum leverage ratio of 1: 100. The amount of leverage is expressed as a ratio, for instance, 50:1, 200:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 200 000 USD/JPY, that leverage will equate to 200:1.

 

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade.

 

Bonuses

iqcent bonuses

 

The broker also has an IQcent Referral Program where clients can invite friends, family members, or colleagues, and get 20% of the deposits they make when opening an account with IQCent. All you have to do is share your link and earn money. If a referral for example deposits $ 1 000 in a new account, you will $ 200 as a commission.

 

If you, for example, deposit $ 250, you will receive a 20% bonus that will up your deposit to $ 300. On a $ 1 000 deposit, you will receive a 100% bonus and the deposit will up to $ 2 000.

 

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

 

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.

 

IQCent rewards its traders with bonuses on initial trading deposits. The bonus amount depends on the amount of deposit made and can reach up to 100%.

 

Trading platforms, software, and its features

 

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

Some companies provide their own proprietary platform, while others prefer well-known platforms. If there is a choice, the trader should keep in mind what he would like to trade.

 

IQCent offers its own in-house IQcent platform as the only trading platform. There is not much information on the broker’s website on this platform but sources state that it is a user-friendly platform and easy to navigate.

 

It seems like all information is only provided once you have opened an account with the broker.

 

It has an intuitive interface with copy trading tools to help traders. You can copy other traders who are experts, and they are listed according to their performance. Once you have created and funded an account, you can choose any trader to copy from the platform dashboard.

 

IQcent’s platform is also built with CALL and PUT buttons to execute trades and offer a 1-minute to 30-minute trade time.

 

On the broker’s home page, the platform is described as versatile and available on any device without needing to download software. Unfortunately, it does not state outright if it is available on desktops, the web, or smartphones.

 

The trading platform is available in English, Spanish, and Russian.

 

Awards and Recognition

 

In the world of forex broker companies, it counts much for the company’s reputation if it has been honored with awards from esteemed organizations or publications.

 

There is no indication if IQcent has received any awards but since it is a very new company it could not have received any as yet.

 

Conclusion

 

IQCent headquarters is situated in Majuro, in the Marshal Islands, where it works as binary options and FX broker. A group of forex specialists created the company in 2017, and it began offering online trading services in 2020.

 

When it comes to binary options, IQCent is one of the first brokers to enable trading in cents, which results in a minimal minimum trade size of just $ 0.01.

 

IQCent provides trading services through its own platform, with leverage ranging from 1: 100 to 1: 1000. The trading platform is unknown, and it cannot be compared to the popular and well-known MetaTrader4 or MetaTrader5 platforms, which are both available worldwide.

 

The broker offers trading in forex, CFDs, cryptocurrency, and binary options, with a choice between three different live trading account types, namely Bronze, Silver, and Gold.

 

IQCent is not recognized as a licensed or registered broker by any credible regulatory authority. In no way should this be seen as an indication that IQCent is a substandard broker. Rather, clients who wish to trade binary options, foreign exchange, or CFDs with this broker, should proceed with caution.

 

IQCent does not provide any research or educational materials to help traders succeed in their trading endeavors. It does include a demo account that is good for beginning traders, but it appears to be more geared toward the more experienced trader. It also includes a section with frequently asked questions.

 

The company provides its services to traders all around the world, with the exclusion of clients from the United States.

 

You might also like: IQCent Review

You might also like: IQCent Demo Account – Step by Step

You might also like: IQCent Fees and Spreads

You might also like: IQCent Minimum Deposit

You might also like: IQCent Sign-up Bonus

You might also like: IQCent Withdrawal Process

 

Frequently asked questions

 

Trading environment

 

How many instruments can I trade with IQCent?

You can trade in over 100+ assets that include:

  • Forex
  • Commodities
  • Indices
  • Binary Options
  • Cryptocurrencies

 

Which platforms are supported by IQCent?

IQCent provides its own IQCent proprietary platform.

 

Does IQCent offer leverage?

Yes. Leverage of up to 1: 100.

 

What spreads can I expect with IQCent?

It is not clear on the website what the spreads are. Clients should contact customer care.

 

Does IQCent charge a commission?

It is not clear what the commission charges are if any. Clients should contact customer care.

 

Are there additional charges on the Islamic account?

IQCent does not offer the option to clients of the Muslim faith to open an Islamic Account.

 

Is IQCent regulated?

No. IQCent is not regulated.

 

Is IQCent a recommended forex trading broker for experts and beginners?

No. IQCent focuses more on the advanced trader.

 

What is the overall rating out of 10 for IQCent?

4/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does IQCent offer a demo account?

Yes. The broker does offer a demo account on any of the three live accounts that have the same features as the live account is chosen.

 

For how long is the demo account valid?

A demo account is usually valid for 30-days, however, IQCent does not indicate for how long its demo account is valid.

 

Does IQCent offer the option of an Islamic Account?

No. IQCent does not offer the option of an Islamic Account for traders of the Muslim faith.

 

Which live trading accounts does IQCent offer?

IQCent offers three live account types, namely Bronze Account, Silver Account, and a Gold Account.

 

What are the available deposit currencies for a live trading account?

It seems like the only currency accepted in USD.

 

Deposits and withdrawals

 

What is the minimum deposit for IQCent?

$10.

 

How do I make a deposit and withdrawal with IQCent?

  • MasterCard
  • Visa
  • Bitcoin
  • Altcoins
  • Ethereum

 

Does IQCent charge withdrawal fees?

No. However, traders should take note that fees from financial institutions may apply.

 

How long does it take to make a withdrawal?

This will depend on the payment method used. IQCent processes all withdrawal requests within 1 hour. However, verification may take a longer time, if the client didn’t submit all requested documents in time.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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