- Min Deposit: $50
- Bonus: 20% to 200% Deposit Bonus
- Payout: 95%
- Demo Account: Yes
- Regulated: IFMRRC
Best Binary Broker 2023 - DayTrading.com
- Traders from United States welcome
- About IQCent
- Instruments & Markets
- Binary Options Trading
- CFD Trading
- IQCent Trading Platform
- How To Place A Binary Options Trade
- Additional Features
- Mobile Trading
- IQCent Payouts
- Payment Methods
- Copy Trading
- IQCent Accounts
- How To Register
- Demo Account
- Bonuses & Promotions
- Welcome Bonus
- Trading Contest
- Refer A Friend
- Regulatory Oversight
- Customer Support
- Should You Trade Binary Options With IQCent?
- How Does Binary Options Trading On The IQCent Platform Work?
- Does IQCent Offer A Welcome Bonus?
- How Can I Withdraw Money From My IQCent Account?
- Who Owns IQCent?
- How Do I Verify My IQCent Account?
- Is IQCent Regulated?
IQCent is a beginner-friendly binary options and CFD broker, offering trading opportunities on 100+ assets. Account holders benefit from non-stop trading, including on the weekends, a copy trading service, plus 95% payouts. In this 2023 review of IQCent, our experts tested the full range of trading services, from minimum deposits and withdrawal speeds, to demo accounts and promo codes. Find out how to trade binary options on IQCent.
IQCent was founded in 2017 and has been offering online trading to retail clients since 2020. Today, IQCent processes more than 10,000 transactions per day and services traders across the globe. The brokerage is operated by Wave Makers Ltd and has headquarters in the Marshall Islands.
Alongside straightforward high/low binary options, users can trade CFDs with 1:500 leverage. Trading opportunities span forex, stocks, commodities and cryptocurrencies.
The minimum trade size is $0.01 and new users can get started with a $250 minimum deposit via 10+ supported payment methods.
Instruments & Markets
IQCent offers trading on 100+ assets through binary options and CFDs:
- 3 commodities; Gold, Copper and Brent Crude Oil
- 4 German stocks including Deutsche Bank, Lufthansa and BMW
- 7 of the world’s largest stock indices including the S&P500 and FTSE100
- 40+ major and minor currency pairs including EUR/USD, GBP/JPY, and USD/CAD
- 12 digital currencies including Bitcoin, Dogecoin, and Ethereum
Binary Options Trading
IQCent offers three types of binary options:
- Turbo options – expiry time between 3 and 30 minutes (or 1 minute for high-risk assets), with 1-minute increments
- Intraday options – expiry time up to 24 hours with 1-hour increments
- Long-term options – expiry time between 24 hours and 30 days with 1-day increments
The broker offers standard high/low options, meaning traders simply have to predict whether the price of an asset will rise or fall. The bar on the left-hand of the trading platform displays the potential payout for each asset.
A contract for difference, or CFD, is a derivative instrument that tracks the value of an underlying asset, such as a stock. Clients typically trade CFDs with leverage, meaning users put down a small capital outlay to effectively borrow funds from the broker to increase their purchasing power and potential profits.
IQCent offers flexible leverage up to 1:500, though this varies by instrument with crypto CFDs capped at 1:10. Margin calls are triggered at 5%.
Account holders can trade CFDs commission-free, with floating spreads from 0.7 pips. Swap fees apply for positions left open overnight. Costs are typically 0.07% of the face value of the position.
IQCent Trading Platform
IQCent offers a proprietary, web-based trading platform, meaning no lengthy download requirements. The platform is beginner-friendly with straightforward navigation and user-friendly features.
When we used the platform, charts were fully customizable, with six timeframes available (M2, M10, M30, H1, H4, D1). You can view price data via candlestick or tick charts with drawing tools, text, XABCD patterns, and more.
The binary options broker also offers several in-built indicators, such as momentum, relative strength, and average range. In addition, users benefit from third-party market analysis with suggestions regarding buying or selling assets from experienced traders.
An integrated economic calendar and the latest news are also available via the platform. Finally, you can see your full trading history, view positions opened by top traders, and deposit funds with just the click of a button.
How To Place A Binary Options Trade
Making a binary options trade is straightforward:
- Navigate to the order screen (found on the right-hand side of the platform)
- Select the asset you wish to trade via the drop-down bar (you can search or filter by asset class)
- Choose the option type (turbo, intra-day or long-term)
- Select the timeframe (this is the duration of the contract)
- Choose fixed or flexible timing (you can use the sliding bar)
- Decide how much you want to stake (click on the ‘+’ or ‘-‘ icons)
- Select ‘up’ or ‘down’ (depending on your price prediction)
When we used IQCent, our experts found several additional tools available to binary options traders:
- Double-Up – IQCent allows traders to ’double-up’ on an investment before expiry. This means the trade size and potential winnings are doubled. If you choose to ’double-up’, you will duplicate the position with the same price direction, amount, and expiry time.
- Rollover – The rollover feature and strategy allows investors to extend a position by 100% for one use. After this, a 30% addition is allowed on the same position. The contract must be out-of-the-money and in the last quarter of the original expiry period to be eligible for a rollover.
- Sell Out – IQCent also permits a contract ‘sell out’. Binary options traders can close a position before expiry if the position has a profit of at least 0.1%. This means you can lock in profits early.
Our experts were disappointed to find that the IQCent proprietary platform is no longer offered as a mobile app. This means the application is not available to download to iPhone (iOS) or Android (APK) devices.
With that said, the browser-based terminal can be used on mobile and tablet devices, though we found the stability and charting view much better on a desktop computer.
The maximum payout available is 95%, which is competitive vs alternatives.
While using IQCent’s binary options trading platform, we were offered payouts of between 20% and 75% on cryptos. Payouts on currencies were between 60% and 85%, and commodities were offered at 75%.
The minimum deposit to start trading with IQCent is $250. Users can fund their accounts with debit and credit cards (Visa/Mastercard), wire transfers, or cryptos like Bitcoin and Ethereum.
Account funding is instant for credit/debit card payments, however blockchain confirmation times can cause delays with crypto deposits. The broker does not charge any payment fees, though third-party costs may apply.
Withdrawals rules state that payments must be made back to the original deposit method. The typical withdrawal time is one hour, however, the time taken for funds to clear back to the user’s account may vary.
IQCent has a minimum withdrawal requirement of $20 and a 5% fee applies for credit and debit card withdrawals.
Note, a $10 inactivity charge applies to accounts unused for 90 days.
The IQCent platform supports copy trading. The tool is designed for beginners or those looking to invest without spending hours studying the markets.
You can view the performance of the top 10 traders before committing funds. Users can view the profit percentage and location of ‘pro’ traders, among other metrics.
Once you have funded your account and have a positive net balance, select ’copy trading’ in the left-hand side of the platform. Then simply choose which trader you want to copy and how much you would like to stake.
The copy trading service is free and available to all live account holders.
The binary options broker offers three live accounts:
- Bronze – 24/7 live video chat support, 1-hour withdrawals, copy trading, demo account, 20% bonus
- Silver – 24/7 live video chat support, 1-hour withdrawals, copy trading, demo account, 50% bonus, master class, three risk-free trades
- Gold – 24/7 live video chat support, 1-hour withdrawals, copy trading, demo account, 100% bonus, master class, three risk-free trades, personal success manager
How To Register
It is quick and easy to sign up for a live IQCent profile.
You can register directly through the website via the ’sign up’ logo on the top right of each webpage. KYC protocols are adhered to, so ID verification will be required. You may need to submit a copy of your passport, driving license, or utility bill.
Accepted account currencies include USD, EUR, GBP and RUB.
IQCent.com also offers a demo account. Register via the ’sign up’ logo in the top right of each webpage, as if you are opening a live profile. Once you have entered your personal details (name, email, and phone number), you will have direct access to the simulated environment and can login as often as required.
It’s worth pointing out that you cannot practice trading binary options without funding a live account. Essentially, the demo profile is designed to give prospective traders a feel for the trading platform and its functionality.
Bonuses & Promotions
The broker offers a tiered bonus program. For deposits between $0 and $250, traders can opt-in for a 20% bonus. For a 50% bonus, traders must deposit between $250 and $1000. For the 100% welcome bonus, investors must deposit $1000+.
Terms and conditions show that a 3x total turnover within three months is required before bonus funds can be withdrawn. You can also opt-out of deposit bonuses or promo codes when registering for a new profile.
Look out for trading contests with cash prizes, account bonuses, and high-tech gadgets up for grabs. Trading tournaments normally assign winners based on the number of trades executed per week.
Competitions typically run from Sunday 9 PM (GMT) to Sunday 8:30 PM (GMT). All IQCent traders are automatically signed up to the contest.
Refer A Friend
Binary options traders can also receive a bonus through the IQCent referral program. Live accounts come with a referral link that can be shared with friends and family, with a 20% bonus available. Withdraw the promotional funds or trade with them.
IQCent does not hold a license with a top-tier financial regulator. Whilst fairly common in the industry, it does mean users may have limited protections should the brokerage go bankrupt. Traders may not get access to investor compensation schemes, for example.
Although IQCent is not strictly regulated, the broker does use industry-standard security measures, including 256-bit SSL transaction encryption and 3D secure when processing payments. Funds are also held securely in European banks.
Benefits of trading binary options with IQCent include:
- Copy trading
- Payouts up to 95%
- Cryptocurrency deposits
- $0.01 minimum trade size
- Fast account verification times
- Range of supported trading strategies
- Double-up, rollover, and sell-out features
- Turbo, intra-day and long-term binary options
- Various account bonuses and financial incentives
- 100+ assets spanning forex, stocks, commodities and cryptocurrencies
- Proprietary trading platform with technical analysis tools and TradingView data
Drawbacks of opening an account with IQCent include:
- Limited demo account
- $250 minimum deposit
- No proprietary mobile app
- No MetaTrader 4 integration
- Limited educational content and tutorials
IQCent offers help through several channels; email form, telephone number, and live chat (available 24/7 through the website and platform). Note, you must have a registered trading account to access 1-to-1 video chat services.
There is also an FAQ section on the website, though it is basic covering simple requests such as how to trade on the platform, how to verify an IQCent account/check your verification status, and funding methods. It does not provide information about why a trade is not available, why the platform keeps crashing or not working, or help to delete an account.
It is also worth pointing out that when we tested IQCent, the response time was longer vs Pocket Option, Videforex, and RaceOption.
Should You Trade Binary Options With IQCent?
IQCent offers a stable binary options trading platform with 100+ assets, copy trading, and 95% payouts. Alongside binary options, leveraged CFDs are available, as well as welcome bonuses for new users.
On the downside, IQCent could improve the functionality of its demo account and could expand its educational materials for beginners. The lack of regulatory oversight may also deter some investors.
Overall, IQCent is a legitimate binary options broker, with competitive payouts, trading conditions and useful additional features.
How Does Binary Options Trading On The IQCent Platform Work?
Select the asset you wish to speculate on, choose the option type, expiry time, and stake, and confirm your price projection by selecting either up or down.
Traders can also use the broker’s double-up feature to increase their potential winnings, the rollover feature to extend their position, and the early sell-out function to lock in profits.
Does IQCent Offer A Welcome Bonus?
IQCent offers tiered joining deposit bonuses depending on the size of the initial payment. Users can earn between 20% and 100% of the deposit value with up to $1000 in promotional capital available per account.
How Can I Withdraw Money From My IQCent Account?
Log in to your live profile, select ‘Funds’, and then click on ‘Withdrawals’. Select the payment method and input the amount you wish to withdraw. Note, withdrawals won’t be processed until your account has been verified.
For any problems or extended withdrawal times, reach out to the broker’s customer service team.
Who Owns IQCent?
IQCent is owned by Wave Makers Ltd. The company is based in the Marshall Islands though its customer base spans multiple countries and continents.
How Do I Verify My IQCent Account?
To verify your IQCent account, you will need to upload identity documents, such as a passport or utility bill. This is in line with the binary options broker’s KYC protocols and is required for all withdrawals.
Is IQCent Regulated?
No – IQCent is not regulated potentially raising scam concerns. However, this is not uncommon for binary options brokers and the brand is owned by Wave Makers Ltd, which also operates another established brand; BinaryCent.
|Bonus||20% to 200% Deposit Bonus|
|Instruments||CFDs, Binary Options, Forex, Stocks, Indices, Commodities, Cryptocurrencies|
|Expiry Times||5 seconds - 30 days|
|Ladder Binary Options||No|
|Boundary Binary Options||No|
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|CFD FTSE Spread||From 0.7 pips|
|CFD GBPUSD Spread||From 0.7 pips|
|CFD Oil Spread||From 0.7 pips|
|CFD Stocks Spread||Variable|
|Forex GBPUSD Spread||From 0.7 pips|
|Forex EURUSD Spread||From 0.7 pips|
|Forex EURGBP Spread||From 0.7 pips|
|Crypto Auto Market Maker||No|
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