Is IQCent Scam or Legit Broker?

No, IQCent cannot be considered a secure broker as it lacks a trustworthy license from a reputable regulatory authority. It is only registered in the Marshall Islands, which is categorized as an offshore jurisdiction with inadequate safety measures and regulatory standards (Wave Makers LTD – Nr. 103581, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960).

  • Forex industry in the Marshall Islands lacks strong regulatory oversight. Although brokers based there offer various financial services, their regulatory supervision does not meet the stringent standards set by top-tier authorities such as the CySEC or FCA.

About IQCent
🏢 Registered inMarshall Islands
🗺️ Type of LicenseOffshore
🛡️ Is IQCent safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is IQCent?

IQCent is a recently established binary broker, founded by a team of experts in 2017 and commencing online trading operations in 2023. The company is headquartered in Majuro, Marshall Islands. Using their proprietary in-house trading platform, the broker provides trading services for forex, CFDs, cryptocurrencies, and binary options. They offer customers a selection of three distinct account types to choose from. The IQCent customer support team is available round the clock, 24/7. IQcent does not provide MetaTrader platforms. The broker enables traders access to CopyTrading

Based on our research we found the following information traders should know before signing with the broker:

  • While looking into IQCent, we found important information about the broker’s regulation. The first thing traders need to check about a broker is the existence of a tight regulation. However, this is not the case with IQCent, as it is an offshore broker with a license from the Marshall Islands. 
  • Some of the IQCent’s offerings seem to be pretty favorable, however, its website does not offer sufficient educational resources, and traders should proactively seek alternative information sources to acquire the required skills and knowledge. The only form of assistance offered by the broker is the provision of a demo account.
  • Client reviews are also essential to consider before making a choice to sign in with a broker. We revealed that IQCent has mixed reviews. While certain reviews are notably positive, highlighting the benefits of trading with the broker, there are also numerous negative ones that emphasize issues like inadequate customer support and problematic withdrawal procedures, among other concerns.
  • Finally, taking into account the gathered facts, traders should recognize that selecting an unregulated or offshore broker can potentially jeopardize their investments. There are numerous tightly regulated brokers in the market that adhere to rigorous regulatory standards and inspire a high level of trust.

Overall IQCent Ranking

Based on a decade of experience in the Forex trading industry, our research has revealed substantial issues regarding the reliability and adherence to regulatory standards by IQCent. Consequently, we cannot give a positive ranking to IQCent.

  • IQCent Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.
RankingIQCenteToroTrading 212
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading EnvironmentEducation resources

IQCent Alternative Brokers

Because of the safety concerns linked to IQCent, we highly recommend exploring alternative options that offer tight regulations and enhanced trading conditions. Below is a list of reputable brokers that provide reliable choices and a secure trading environment for your consideration:

  • GO Markets – Good Market Instruments 
  • HYCM– Low Spreads and Competitive Trading Conditions
  • XM– The best selection of Educational Resources

Deposits and Withdrawals

With IQCent the client is required to deposit funds into their trading account within a period of 90 calendar days starting from the date of its opening. The available minimum deposit is $50.

  • In the event of funding through Visa/Mastercard, withdrawals can be processed either through a bank transfer which will be sent to the client through mail upon order.
  • The company retains the authority to decline a withdrawal request if there is a clear intention to transfer customer funds from one payment system to another.

Account Types

IQCent offers several account types to cater to different trading preferences and experience levels: Bronze, Silver, Gold, and VIP accounts. The features and conditions vary between different account types. The minimum deposit for Bronze accounts is $50, for Silver accounts, it is $1,000, for Gold accounts, it’s $5,000, and for VIP accounts, the minimum deposit is $50,000.

There are other differences, too, such as:

  • Withdrawal time, for instance, for VIP accounts the withdrawal is instant, while for Bronze accounts it might take up to 8 hours. 
  • Besides, Gold and VIP accounts also offer personal assistance, while for Bronze and Silver accounts the service is not available. 

IQCent Review Conclusion

Considering the information we have gathered regarding IQCent, there are significant apprehensions regarding the broker’s reliability and credibility. Despite the broker’s appealing features and offerings, the fact that it is registered in an offshore jurisdiction (Marshall Islands) raises substantial doubts, and traders should exercise caution.

We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also alighed with top-tier regulations which is considered safe choice to trade, these including FP Markets, HFM, or FXGT

  • Overall ranking and experience for IQCent is Negative

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