IQCent is an offshore broker offering binary options, forex, CFDs, and cryptocurrency trading. Established in the late 2010s, it offers low minimum deposits and (its most distinctive feature) trade sizes starting from just $0.01. This ultra-low entry point, combined with the ability to fund accounts with both fiat currency and cryptocurrency, has made it appealing to beginners and other small-scale traders.
Important: IQCent imposes a 3× turnover requirement on deposits, meaning you must trade at least three times your deposit amount before withdrawal. If this condition isn’t met, a 20% commission fee is deducted from your withdrawal amount. This policy applies even if you haven’t accepted any bonuses.
Example: You deposit $100 and places trades for a combined $200. It is not going well, and when you have $40 left in your account, you want to cut your losses and withdraw them. You now have to pay a $8 commission fee, since you did not turnover $300 before requesting a withdrawal. You will only be able to get back $32. (As always, you also need to consider any standard withdrawal fees charged by your broker and/or the transaction company.)
Trading Platform Experience
IQCent runs on a proprietary, web-based platform accessible via browsers and mobile devices. The interface is designed for simplicity, with fast execution and straightforward contract structures for binary options. While user-friendly for beginners, the platform lacks advanced charting, algorithmic tools, and deep analysis features found on platforms such as MetaTrader 5 and cTrader. This makes it less suitable for advanced traders.
Expiry times for binary options range from 30 seconds to 30 days, with payouts advertised up to 98%.
On this platform, turbo options have expiry times in the 1 minute to 30 minutes range, intraday options can be set for 1 hour to 24 hours, and long-term options can be set for 1 day to 30 days.
For binary options based on forex pairs, the normal payout range on this platform is 60% to 85%. For binary options based on commodities, expect it to be around 75%. For cryptocurrencies, the payouts vary widely, from a mere 20% to 75%, depending on the circumstances.
In certain regions, leverage up to 1:500 is available for IQCent binary options.
Minimum Trade Size
IQCent’s biggest selling point is its minimum trade size of $0.01 per contract. This is much lower than most of the competitors and it allows beginners to experiment with strategies without risking significant sums. Even with a small deposit, you can stick to the time-honored rule of never risking more than 2% of your account balance on any individual trade.
The low minimum trade size also makes the platform attractive to those treating binary options more as a low-cost gambling activity than as serious trading. One can open quite a few trades here for the amount one would otherwise spend on a scratch card.
Underlying Assets for Binary Options
- Forex pairs – majors, minors, and selected exotics. In total over 40 different forex pairs are available.
- Commodities – gold, silver, copper, and Brent crude oil
- Indices – key global stock benchmarks such as S&P 500, FTSE 100, and Nikkei 225
- Cryptocurrencies – Bitcoin, Ethereum, Litecoin, Dogecoin, and more.
In some regions, traders also get access to binary options based on exchange-traded funds (ETFs), and/or individual stocks such as Apple, Amazon, and Tesla.
Account Tiers
The broker offers two account tiers for real-money trading: Standard and VIP. For the Standard Account, the minimum deposit is just $10. For the VIP Account, access depends on deposit thresholds which can vary depending on your region, from $1,900 to $3,000. A VIP Account comes with several perks, such as an extra 2 or 3 percentage points added to payout rates, a personal account manager, prioritized withdrawal processing, access to VIP educational material, and better access to free tournaments.
Regulation and Reputation
IQCent has built a reputation for accessibility due to its ultra-low trade size and low deposit requirement. However, it has also been criticized for recurring withdrawal problems, aggressive sales tactics, and lack of transparency. Its offshore registration make it a high-risk broker, but the fact that it has been around since 2017 has earned it a certain level of trustworthiness within the trading community.
IQCent is operated by Wave Makers Ltd., a company registered in the Marshall Islands. The official address is listed as Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. It was established in 2017. According to Dun & Bradstreet, the key principal listed for the company is Iryna Tsymbal, who holds the position of Director.
IQCent´s User Agreement states that IQCent is operated by Wave Makers LTD (registration number: 103581) on behalf of Finance Group Corp. (FGC). Finance Group Corp. is registered in Vanuatu, an island nation in the Pacific Ocean. The address is Transpacific House, 2nd Floor, Lini Highway, Port Vila.
The Wave Makers Ltd company sphere has ties to both IQCent, BinaryCent, BinaryMate, and 24startrade.com. There are also ties to the companies Cent Projects Ltd. (CPL) and Clever Technologies Ltd., but the ownership structure is opaque and involves more than one offshore location.
Cent Projects Ltd. (CPL) is registered in the Seychelles, and island nation in the Indian Ocean.
The Marshall Islands, Vanuatu, and the Seychelles are all island nations known to be popular offshore locations for companies in search of freedom and discretion. None of them are known to enforce strong trader protection rules or supervise online brokers.
Deposits and Withdrawals
IQCent accepts deposits via bank cards, e-wallets, and cryptocurrency transfers. Crypto payments, in particular, are promoted, with Bitcoin and other digital assets commonly used for funding. While deposits are generally fast, trader complaints are more frequent when it comes to withdrawals. There are reports of delays, excessive verification requests, and blocked withdrawals.
Examples of accepted transaction methods:
- Credit and debit cards, including VISA and MasterCard. Deposits are very quick.
- E-wallets and similar digital payments system, such as Neteller, Skrill, and Perfect Money. For some of them, IQ cent will not charge a deposit fee.
- Bank wire transfer. Can take up to 3 business days.
- Cryptocurrency transfer, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Tether (USDT), Ripple (XRP), and certain other tokens. IQCent promotes cryptocurrency transactions and will normally not charge any processing fee. (Check what is applicable to your specific situation before you proceed.) Cryptocurrency transfers are fast.
Even though the general minimum deposit at IQCent is $10, you need to deposit at least $20 if you use a card.
The general standard minimum withdrawal is $20, but higher for some methods.
IMPORTANT:
- IQCent can charge to process both deposits and withdrawals. Exactly how much depends on the transaction method, so make sure you find out the details beforehand.
- As stated in the beginning of this review, IQCent imposes a 3× turnover requirement on deposits, meaning you must trade at least three times your deposit amount before withdrawal. If this condition isn’t met, a 20% commission fee is deducted from your withdrawal amount. This policy applies even if you haven’t accepted any bonuses.
- If you want to withdraw more than $1,800, IQCent may require a notarized or post-certified identity document.
Customer Support
IQCent offers 24/7 customer support via live chat, phone, and email. While basic inquiries are normally answered quickly, reports from traders indicate that issues involving account restrictions or withdrawals sometimes receive vague or unhelpful responses.
The live chat usually responds within a few minutes. You´ll find it on the IQCent website and on the trading platform. In addition to the text-based live chat (which is accessible to anyone), registered IQCent traders can also use the live video chat support.
The email address is support@iqcent.com.
Several phone number are available, including:
- For international support in English: +1 829 947 6383
- English support for traders in Australia: +61 8 5550 7288
- Russia: +7 499 380 6317
- Thailand: 02 21345671
Why Are Traders Choosing IQCent?
Many traders are attracted by the small first deposit ($20) and the possibility of opening contracts as small as $0.01. These two factors make IQCent is one of the most accessible brokers for beginners and micro traders, and the small trade sizes allow traders to experiment with strategies and understand the mechanics of binary options without risking significant sums of money.
Traders who chose IQCent are often retail traders who are looking for retail binary options, and who have accepted that they can get them from brokers regulated by the strict financial authorities, e.g. UK FCA, ASIC in Australia, or CySEC in Cyprus, EU. They know that IQCent is not supervised by any strict financial authority and they are willing to take a leap of faith. The fact that IQ Cent has been around since 2017 adds a bit of credibility.
IQCent is picked by traders looking for short-term speculation; not for longer-term trading or investing. Many of the traders are inexperienced and like that the proprietary platform is clean, mobile-friendly, and easy to navigate. It suits traders who want quick access to binary options contracts and other instruments, and who would be overwhelmed by more comprehensive trading platforms that are packed with technical tools and other advanced features.
Another attractive point with IQCent is how it supports cryptocurrency transactions and accepts several different cryptocurrencies for deposits and withdrawals.