Is IQCent Broker the Best CFDs Trading Platform?

Is IQCent Broker the Best CFDs Trading Platform?

Written by Ramsay, In Forex, Updated On
January 2nd, 2024
, 2.3K Views

Broker IQCent trades binary options and CFDs. Over 100 currency pairings, stock indices, and cryptocurrencies are traded on the exchange. This analysis will cover the broker’s history, minimum deposit, and UK investor trading on IQCent. From its demo account and supported trading techniques to withdrawal limitations and promo coupons, we discuss IQCent’s advantages and downsides.

About IQCent

IQCent

IQCent was founded in 2017 as WaveMaker LTD. The brokerage is based in Majuro, Marshall Islands. Over 10,000 transactions are executed daily on the trading site, where novice traders can deposit £250. This company is not registered with a respected regulating authority like the UK Financial Conduct Authority. Slow customer response times and server unavailability are also criticized.

IQCent is quickly becoming one of the top online CFD trading platforms. This is because the platform has a user-friendly interface, low fees, and provides robust trading tools. While it is an excellent platform for trading CFDs on forex, indices, commodities, and cryptocurrencies, traders wonder if it is the best.

Top Features Of IQCent

  1. IQCent was founded in 2017; individuals have found over 100 investment choices on IQCent in our study. 
  2. IQCent offers several accounts, so traders may choose one that fits their demands and budget according to their costs.
  3. The fact that IQcent doesn’t charge withdrawal or deposit commissions makes it even more affordable for users. 
  4. IQCent’s 3D Secure-enabled, Visa and MasterCard Secure Code-verified, SSL-certified 256-bit Secure Processing fulfills withdrawal requests in under an hour. Deposits may be made using cards and cryptocurrencies. The minimal deposit is $20–$50, depending on location. 
  5. One of IQCent’s best features is its assistance translator, which lets consumers worldwide access help in their language. Not many brokers offer this, and some have various customer assistance techniques, but IQCent’s account-holder service is fantastic.

Fees & Pricing Of IQCent

Our experts considered the broker’s fees opaque. IQCent’s spread-based CFD trading cost starts at 0.7 pips. Trading cryptocurrency CFDs incurs commissions. This can exceed 2.5% for non-leveraged holdings. Margin trading might incur 5% commissions. The binary options platform interface shows asset payouts. EUR/GBP pays 85%. If you initiate a trade with £100, you will get £185 if you win (£100 investment + £85 profit).

Factors to consider when Choosing a CFDs Trading Platform

There are several key factors to consider when evaluating CFD brokers.

Trading Platform: The platform should be intuitive yet offer the tools you need, like charts, order types, technical indicators, etc.

Asset Classes: The breadth of markets like forex, stocks, commodities, indices, and cryptocurrencies.

Fees: The trading fees and spreads can significantly impact your profitability. IQCent offers low spaces starting from 0 pips.

Account types: The range of account types offered for investing, based on trade experience and deposit amount.

Security: The measures to protect client funds and personal data.

Customer Support: Evaluate support responsiveness and communication channels like phone, chat, and email.

Education: Look for platforms that provide learning resources, market analysis, and risk management guidance.

Evaluating IQCent Based on These Factors

Now that we know what to look for, let us evaluate IQCent broker to see if it ticks all the boxes.

IQCent scores very well when evaluated against the essential criteria. The fees are very competitive, with no commissions and tight spreads. For trading CFDs, IQCent provides substantial leverage of up to 1:500. This allows traders to maximize their buying power for potential gains. They cover all the critical markets in their asset classes, such as forex, commodities, indices, and crypto.

When it comes to account types, IQCent shines. They offer a range of options, which are Bronze, Silver, Gold, and VIP. This enables traders to choose the one that aligns with their experience and capital. Minimum deposits start at a modest $50 for Bronze and go up to $50,000 for VIP.

Security is always a concern in online trading, but IQCent has it covered. Your funds are kept in segregated accounts for extra protection. SSL encryption and DDoS protection ensure your personal information stays private. You can also set a unique password and back your account security with Google Authenticator.

Making deposits and withdrawals is a smooth experience with IQCent. They support various fast payment methods so that you can get trading in as little as 1 hour. On the flip side, withdrawals are processed in 1-8 hours – faster than many competitors.

IQCent also shines when it comes to customer support. Their multilingual team is available 24/7 through phone, email, and live chat. Queries are answered promptly, with most addressed in under 5 minutes. For new traders, IQCent has provided education through its blog.

What Do You Know About IQCent Mobile App?

IQCent offers a free iPhone (iOS) and Android (APK) trading app. Functionality is simple; program features mimic PC. We also had mobile IQCent app crashes. User reviews also mention slow trade verification.

What Are The IQCent Payment Methods?

The minimum deposit is £250. Only USD or EUR may be paid. Unfortunately, GBP is not recognized as an account-based currency so UK investors may incur currency conversion costs. Payment types accepted by IQCent:

  • Banking wire transfer
  • Mastercard and Visa debit/credit cards
  • Bitcoin, Litecoin, Ethereum, Dash

Most credit/debit card payments clear within three hours. Network confirmation times affect Bitcoin deposit speed. Bank wire transfers take one business day. Funding accounts via wire transfer requires £5000 or more.

IQCent Withdrawals

IQCent handles all withdrawal requests in 1 hour, although fund clearance timeframes vary per payment method. The minimum withdrawal amount is £20 for all payment methods. All withdrawals need ID verification, regardless of the amount. Contact customer support for difficulties, rules, or account withdrawal instructions. 

Bonuses & Promo Codes Of IQCent?

IQCent gives new and established traders cash incentives and awards. Get weekly contests, no-deposit promo codes, welcome bonuses, and freebies. Prizes include £20,000 cash, Apple gadgets, and a 200% trading bonus (deposit bonus varies by account type). Before withdrawal, deposit and bonus must exceed 3x turnover. For instance, if you deposit £1000 and earn a £500 bonus, you must turnover £4500 before withdrawing. Always read the sign-up offer terms before signing up.

Compare IQCent with Similar Sites

These brokers are the most similar to IQCent:

World Forex: Ita St. Vincent and the Grenadines-based offshore broker offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts allow newcomers to speculate in popular financial marketplaces easily.

Videforex: It offers binary options and CFDs on stock, index, crypto, forex, and commodities markets. The unique platform, mobile app, and integrated copy trading are easy for novice and casual traders, and the market analysis tools and trading contests help you develop.

Binarycent: BinaryCent is an unregulated binary options broker that trades forex, cryptos, and stocks 24/7 with 95% payouts. This broker secures customer funds in European banks despite its unregulated status. CFDs with 1:500 leverage are also available from the broker.

Pros and Cons Of IQCent?

A wide range of market instruments is availableThere are no such rules and regulation
You will get several account types with varied featuresNegative feedback 
Affordable account balances
Low minimum order size

Should you join IQCent?

Our 2024 review of IQCent.com outlined its strengths and downsides for traders. The broker offers copy trading, innovative platform features, and weekend trading on 100+ assets. However, employing the firm’s trading services raised problems. First, little regulation is a negative. Given the restricted demo account and instructional services, traders may wish to look elsewhere.

Conclusion

In conclusion, IQCent provides an excellent CFD trading platform suitable for most traders. While no broker is perfect across all criteria, IQCent hits the core features sought after. IQCent delivers the ideal blend of low fees, advanced trading tools, and a regulated brokerage for many. Opening a risk-free demo account is the best way to evaluate IQCent yourself.

Is IQCent suitable for beginners?

IQCent provides educational resources, demo trading, and an easy-to-use platform ideal for beginner traders.

Does IQCent have a mobile app?

While there is no IQCent app, the web-based trading platform can be accessed via iOS and Android mobile devices.

What is IQCent’s maximum leverage for CFD trading?

IQCent offers up to 1:500 leverage for trading CFDs. This allows traders to maximize their buying power when taking positions in the market. However, leverage also increases risk, so it should be used judiciously.

Does FCA regulate IQCent?

No, FCA does not regulate IQCent. This implies UK traders may not be protected against broker insolvency scams and financial losses.

Is IQCent a Legit Trading Broker?

IQCent is a genuine binary options and CFD broker. However, online trader ratings are unfavourable and the £250 minimum deposit may make it unaffordable for newbies.

Owner of IQCent Trading Broker?

IQCent trades as WaveMaker LTD and is headquartered in the Marshall Islands. BinaryCent, another binary options trading brand, is owned by the corporation.

Can IQCent Rollover?

The IQCent rollover function lets traders prolong a deal for 100% of a time period on the initial use. Every transaction that uses the feature again gets 30% more time.

Also Read -   Exploring managed Forex accounts in the UK for passive investors
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