IQCent provides more than 100 products, including binary options, CFDs on cryptocurrencies, and FX. By providing a variety of technical and fundamental research tools on its trading platform, the online broker hopes to assist both new and seasoned traders. This 2022 IQCent review details the company’s investment tools, supported trading methods, practice accounts, and discount offers. Find out if you ought to register for an IQCent trading account.
More about the company
A multi-asset brokerage with its main office in the Marshall Islands is called IQCent. The retail brand was introduced in 2017 and is run by Wave Makers Ltd., the same company that runs BinaryCent, another well-known options broker.
IQCent is a popular choice for beginners because it offers 24/7 trading with a $250 minimum deposit and a $0.01 minimum trade size. The broker also boasts 95% payouts on its binary options products, and live accounts can be funded using more than 10 different payment methods.
Customers from many different nations, including Canada, India, Japan, South Africa, and the UK, are welcome at the trade brand. Investors residing in the US are not permitted to use the broker.
Markets and Assets
Clients can speculate on more than 100 of the broker’s financial instruments using simple binary options contracts and leveraged CFDs:
- Forex: 40 major, minor, and exotic currency pairs
- Shares: Four German companies: Lufthansa, Deutsche, Daimler, and BMW
- Cryptocurrency: 17 cryptosystems, including Bitcoin, Ethereum, and Litecoin
- Commodities: four commodities: gold, silver, copper, and Brent crude oil
- Indices: Seven indices, including the US 30, S&P 500, and FTSE 100 (only available as CFDs),
IQCent provides its trading platform. There is no possibility of using third-party platforms.
Making a deal
To make a trade on the IQCent platform, you must first choose whether you are opening a CFD position or using an options contract.
Contracts for variation
Choose whether you want to go long or short, and enter the trade size. The site will inform you of the required rate to open a transaction, and the maximum leverage available is 1:500. The minimum trade size is $0.01, and you can transact in both dollars and pennies.
Additionally, you can choose to enable stop-loss and take-profit orders, which can be used to automatically close a position when specific price conditions are satisfied, lowering your risk exposure.
IQCent also provides clients with a copy trading service that allows them to observe and duplicate the transactions of particular investors. The main platform, where you can see a scoreboard of the top 10 most profitable traders and their profit percentage over time, is where you can access the copy trading tool.
The software assists users with their analysis and trade execution by using TradingView’s price history charts. In addition to a variety of timetables, it is also easy for clients to personalize the job with periods ranging from one minute to one day. Heikin Ashi, Japanese candlesticks, bar charts, line charts, and area charts are some examples of this.
Relative Strength Index, Average True Range, and Exponential Moving Average are just a few of the built-in indicators that IQCent has made available to support technical research.
IQCent also offers extra market data and technical analysis to improve the trading experience. For specific securities, this contains the levels of support and resistance.
If you’re considering using a new trading method, you may also read about new trading ideas. There are tabs for breaking news and an economic calendar with future events, such as countries announcing monthly and annual inflation rates, in addition to analysis.
The flexibility of employing other orders, such as doubling, rolling over, and selling, is another benefit of using IQCent. To enter a new trade with the same guarantee, expiration date, and direction, you copy an open contract using Double Up’s contract duplication service. The input, however, will be the current market value rather than the value at the time the initial contract was opened. A doubling contract would cost $3.50, for instance, if the security’s initial entry price was $3 and it is currently trading at $3.50.
The option contract’s expiration date may be postponed using the rollover mechanism. The expiration time is raised by 100% the first time you utilize a rollover. For instance, if the original agreement was for an hour, the renewal would add an hour to that time frame. Every additional application for a rollover lengthens the period by 30%. For instance, an hourly contract would increase by 18 minutes.
IQCent doesn’t impose fees on binary options, so if the contract closes in the black, the compensation offered on the platform will be equivalent to the whole turnover. Payout rates are up to 95%.
When it comes to CFDs, IQCent derives its revenue through spreads that begin at 0.7 pips. Additionally, the broker assesses an overnight position swap fee of 0.07%. Only bitcoin CFD trades are subject to commission fees. The commission for transactions without the use of borrowed money ranges from 1% to 2.5%. There is a commission of up to 5% when trading on margin.
There is also a $10 monthly inactivity fee.
Regulation and safety
Your funds are not protected by any government programs because IQCent does not hold a license from a regulatory organization. However, the broker encrypts user data using 256-bit SSL processing and a 3D secure protocol.
All accounts are eligible for 24/7 customer support. If you’re experiencing issues such as platform crashes, logouts, or features not working, please get help. Also, if you want to delete your account, please contact customer support.
The IQCent team can be contacted in the following ways:
- Contact form via the website
- Email email@example.com
- Social media accounts include Instagram and Twitter.
Because of its many markets, selection of discount codes, copywriting services, and well-designed trading platform, IQCent is a desirable broker. Reports on the technical and fundamental aspects of the market are also a huge aid for novice traders who wish to create or test out new trading techniques. Contrarily, traders are restricted to CFDs and high binary option contracts. Additionally, the broker is not overseen by a reliable financial regulator.