Overview of IQcent
IQcent is a relatively new player in the world of online trading platforms. Launched in 2020, the platform offers binary options, forex, and CFD trading. It is operated by Wave Makers LTD, registered in the Marshall Islands. Despite its recent inception, IQcent has managed to garner attention with its intuitive platform and a range of features. However, it’s not without its share of criticisms and concerns.
Trading Platform and Features
Platform Interface
IQcent’s trading platform is web-based, which means that there is no need for downloads or installations. Its interface is user-friendly and straightforward, making it suitable for both beginners and experienced traders. The platform also offers a mobile app for iOS and Android devices, allowing traders to manage their trades on-the-go.
Assets and Trading Types
IQcent offers a wide range of assets for trading, including stocks, commodities, indices, and cryptocurrencies. The platform provides three types of trading: binary options, forex, and CFDs. This variety is a plus point for traders looking to diversify their portfolios.
Account Types
IQcent offers three types of accounts: Bronze, Silver, and Gold. Each account type comes with its own set of features and benefits, including free withdrawals, 24/7 live video chat support, and copy trading. However, the minimum deposit requirement for each account type is relatively high compared to other platforms.
Customer Support
IQcent offers 24/7 customer support via live chat, email, and phone. The platform also provides a comprehensive FAQ section that covers a range of topics. However, some users have reported delays and unresponsiveness in their customer service, which is a common criticism among many online brokerages.
Regulation and Security
One of the major concerns with IQcent is its lack of regulation. While the platform is registered in the Marshall Islands, it is not regulated by any known financial authority. This lack of oversight can be a red flag for potential traders, as it raises questions about the platform’s credibility and security.
In terms of security, IQcent uses SSL encryption to protect users’ personal and financial information. However, without regulatory oversight, the efficacy of these security measures is uncertain.
Deposits and Withdrawals
IQcent offers a range of deposit and withdrawal methods, including credit/debit cards, e-wallets, and cryptocurrencies. The platform claims to process withdrawals within an hour, which is quicker than many other brokerages. However, some users have reported issues with withdrawals, citing delays and unexplained cancellations.
Conclusion
In conclusion, while IQcent offers an intuitive platform and a variety of trading options, its lack of regulation and reported customer service issues may deter potential traders. As with any online brokerage, it’s crucial for traders to conduct thorough research and consider all factors before choosing a platform for their trading needs.
IQcent is a decent broker with a user-friendly platform but has some room for improvement in terms of customer support and educational resources.
I found IQcent to be a decent broker with average services and features.