IQCent Review 2023

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IQCent is #2 in our rankings of binary options brokers.

IQCent Facts & Figures

IQCent is an offshore binary options and CFD broker based in the Marshall Islands with 10+ payment methods and a low $50 starting deposit. With 100+ assets, around the clock trading and high payouts the brand is popular with aspiring short-term traders.

  • Both short-term CFDs and binary options are tradeable through the broker's single terminal
  • Technical and fundamental analysis is regularly published within the platform dashboard
  • $0.01 minimum stake for newer traders with a smaller initial budget
  • Keen traders can take part in trading contests with cash prizes
  • The broker offers 98% payouts on binary options, which is more than many alternatives
  • IQCent is one of the few binary options and CFD brokers that also offers a copy trading feature
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute
  • The broker is not overseen by any highly respected regulator, though this is common among binary options firms
  • It's a shame that no third-party platforms or additional analysis trading tools are offered
  • Stock CFDs are not available
  • Best Binary Broker 2023 -
Instruments Binary Options, CFDs, Forex, Indices, Commodities, Crypto
Bonus 20% to 200% Deposit Bonus
Demo Account Yes
Min. Deposit $250
Min. Trade $0.01
Regulated By IFMRRC
MetaTrader 4 No
MetaTrader 5 No
cTrader No
DMA Account No
ECN Account No
Social Trading Yes
Copy Trading Yes
Auto Trading No
Signals Service TradingView
Mobile Apps iOS & Android
Islamic Account No
  • Gold
  • Silver
  • Copper
  • Oil
CFDs IQCent CFDs are available on forex, indices, commodities and cryptos with leverage variable by asset to a maximum of 1:500, which is higher than many alternatives. 24/7 customer support is also available to assist new users.
Leverage 1:500
FTSE Spread 0.7
GBPUSD Spread 0.7
Oil Spread 0.7
Stocks Spread N/A
Forex IQCent traders can access CFDs or binary options on 40+ forex pairs, including majors, minors and exotics. CFD spreads start from 0.7 pips and binary options payouts are decent up to 95%. Trading takes place through the broker's proprietary platform with advanced analysis tools.
GBPUSD Spread 0.7
EURUSD Spread 0.7
GBPEUR Spread 0.7
Assets 40
Stocks Traders can only speculate on stock markets via seven leading indices including US30, S&P500 and FTSE100.
Cryptocurrency IQCent offers 17 crypto assets through its own platform, including Bitcoin, Ethereum and Litecoin. Leverage on crypto CFDs is limited to 1:10 while binary options payouts vary by token but are competitive.
  • BTC
  • ETH
  • LTC
Spreads Variable
Crypto Lending No
Crypto Mining No
Crypto Staking No
Auto Market Maker No
Binary Options IQCent offers binary options on forex, stocks, cryptocurrencies and commodities with high payouts up to 98%. The broker uses a proprietary platform with advanced analysis tools and traders can choose contract timeframes ranging from 5 seconds to months, appealing to both short and long term traders.
Expiry Times 5 seconds - 30 days
Payout Percent 98%
Ladder Options No
Boundary Options No
Risk Warning – Your Capital is at risk

IQCent is a binary options and CFD trading broker. The exchange provides trading opportunities on over 100 assets including forex pairs, stock indices and cryptocurrencies. This review will outline the history of the broker, minimum deposit requirements and discuss how UK investors can trade on the IQCent platform. We also unpack the pros and cons of trading with IQCent, from its demo account and supported trading strategies to withdrawal requirements and promo codes.

About IQCent

IQCent was established in 2017, operating under the registered name Wave Maker LTD. The brokerage has headquarters in Majuro, Marshall Islands. Over 10,000 daily transactions are processed through the trading platform while new traders can get started with a £250 deposit.

The organisation is not registered with a reputable regulatory body, including the UK Financial Conduct Authority (FCA). It is also worth noting that there are some criticisms surrounding slow customer response times and server downtime.


IQCent offers a proprietary trading platform to exercise binary options investments, as well as CFDs on forex, stocks, indices and commodities.

The bespoke trading software is accessible directly through internet browsers, with no download for PC devices required. The platform is intuitive and user-friendly.

When using IQCent’s platform, we found it easy to select the trade type, time period and investment amount via the side navigation bar. Call and put buttons also enable clients to execute trades with one click.

Investors can view trading history, access candlestick or line charts and apply technical indicators directly through the platform interface. Below we outline some particularly useful features of the trading terminal:

  • Sell Out – Close an opened position before its expiry time if the position is at a profit of 0.1% or more. Once a position is closed, the initial investment and profit yield will be returned to your account balance.
  • Rollover – The rollover feature allows traders to extend a position for an additional 100% of the selected time for one use. Following this, every next use of this feature for the same trade will permit 30% extra time. The cost of the rollover is $1 = 1 rollover, though they may be available for free depending on your account and deposit value.
  • Double Up – Twofold your investment on the chosen option. This essentially means you can duplicate a position. The direction, asset, value and expiry time will be the same, but the open price will differ. New positions will be unlocked at the current market price.

Proprietary Platform

Note that IQCent does not provide MetaTrader 4 or MetaTrader 5 integration.

Assets & Instruments

IQCent offers binary options and CFD trading opportunities on over 100 assets. This includes forex pairs, commodities, cryptocurrencies and stock indices.

Binary options trading is the default investing style within the platform interface. To begin binary options trading, simply select call or put depending on your strategy.

Fees & Pricing

Our experts found the broker is not particularly transparent with its fee structure. When CFD trading, IQCent implements a spread-based fee, starting from 0.7 pips. Commissions also apply when trading cryptocurrency CFDs. This can reach 2.5% for non-leveraged positions. When trading on margin, commission fees can be up to 5%.

Payouts per asset are provided in the platform interface for binary options trades. EUR/GBP, for example, has an 85% payout. This means if you open a position with a £100 investment, you will receive £185 if your bet is correct (£100 investment plus £85 profit).

Note, it is your responsibility to comply with UK taxes.

Leverage Review

UK traders can access a maximum leverage rate of 1:500. This means if you invest £100 you can trade with £50,000 (£100 x 500). Remember though, although trading with high leverage does enhance profit potential, losses are also amplified.

IQCent does not provide negative balance protection, so your losses may exceed your account balance.

Mobile App

IQCent offers a mobile trading app available for free download to iPhone (iOS) and Android (APK) devices. Functionality is basic – application features essentially replicate the PC platform. When using IQCent on mobile, we also ran into issues with the application not working/crashing. Slow trade verification times have also been flagged in user reviews.

IQCent Payment Methods

Account Funding

There is a £250 minimum deposit requirement. Payments must be made in USD or EUR. It is disappointing to see GBP is not accepted as an account base currency, meaning UK investors may be liable for currency conversion fees.

IQCent accepts the following payment methods:

  • Bank wire transfer
  • Credit/debit cards (Visa and Mastercard)
  • Cryptocurrency & altcoins (Bitcoin, Litecoin, Ethereum and Dash)

Processing times for credit/debit card payments are good, typically clearing within three hours. The speed of cryptocurrency deposits is dependent on network confirmation times. Bank wire transfers are processed within one working day. However, a £5000 or equivalent payment is needed to fund accounts using wire transfers.

The brokers does not charge deposit or withdrawal fees but third-party costs may apply.


IQCent processes all withdrawal requests within 1 hour, although fund clearance times will vary depending on the payment solution. A minimum withdrawal amount of £20 applies to all payment methods.

Identification verification is required for all withdrawals, regardless of the withdrawal amount.

For any problems, specifications on the rules or for more information on how to withdraw money from your account, contact the customer service team.

Practice Account

Our experts were pleased to see IQCent offers a free demo account services for UK traders. However, to gain access, clients must register for a live trading account and make an initial deposit. So while it is free to sign up, the minimum deposit requirement is £250, which is substantial for beginners. Clients must also contact the customer service team to receive demo account credentials.

Once the paper trading profile is live, you can test new strategies and navigate platform features without committing personal funds.

Bonuses & Promo Codes

IQCent offers several financial incentives and rewards to new and existing traders. This includes weekly contests, no deposit promo codes, welcome bonuses and giveaways. Prizes include £20,000 cash, Apple products and a 200% trading bonus, though the deposit bonus depends on the account type.

Total funds deposited and the bonus amount must reach 3x turnover before being eligible for withdrawal. For example, if you deposit £1000 to your live account, and receive a bonus of £500, you must achieve a turnover of £4500 before you can make a withdrawal.

Always review the terms and conditions of sign-up offers before creating an account.

Note, UK clients can opt out of incentives.

Trading Contest Details

UK Regulation

IQCent is operated by Wave Makers Ltd, based in the Marshall Islands under registration number 103581. The company is licensed with the International Financial Market Relations Regulation Center (IFMRRC).

Importantly, the broker is not regulated by a trusted financial regulator such as the UK Financial Conduct Authority (FCA). This means you won’t have access to compensation schemes in the case of scams or business insolvency.

Extra Tools

There is very little in the form of educational content and resources offered by IQCent. This is disappointing, particularly vs competitors such as Videforex, IQ Option and RaceOption. It would be good to see integrated YouTube videos, online trading forums and step-by-step tutorials. Some of the best binary options brokers, including Pocket Option, provide comprehensive guides covering topics such as how to verify an account or how to roll over a position.

When using IQCent, we did find integrated market news and a basic economic calendar of trading events. Copy trading services are also available. Once sign-up is complete, and account verification status is passed, simply switch the mode in your trading platform to ‘copy trading’ and select an individual to copy. This is a good place to start for beginners looking to learn from established traders.

Economic Calendar

Live Accounts

IQCent offers three accounts; a Bronze account, a Silver account, and a Gold account. It is free to sign up, with no maintenance fees. All profiles have access to copy trading services, 24/7 live video chat support, a demo account option, and a deposit bonus (starting at 20% with the Bronze solution).

The most popular live account is the Silver profile. Retail clients can gain access to a web tutorial masterclass, a 50% bonus and three risk-free trades. The Gold account has all the same features but also benefits from a personal success manager and a 100% bonus.

To open an account, visit the ‘Sign Up’ link in the top right of each web page. Complete the application form and provide the relevant ID verification requirements. Applications can be completed within minutes.


When we used IQCent, we found several advantages to opening a live account:

  • 100+ assets
  • 95% payouts
  • Fixed-time trades
  • 60-second contracts
  • Copy trading solution
  • $0.01 minimum trade size
  • Weekend trading available
  • Beginner-friendly trading platform
  • 10+ deposit and withdrawal methods


Our experts also found several disadvantages to IQCent’s offering:

  • Limited educational resources
  • High minimum deposit requirement of £250
  • The demo account requires a minimum deposit
  • Mobile app with limited functionality and some negative user reviews

Trading Hours & Opening Times

Trading hours vary by instrument, though the broker provides non-stop trading over the weekends. Typically, the forex market is available 24 hours per day between Sunday to Friday (9 PM to 9 PM GMT). Cryptocurrency and some over-the-counter assets can be traded 24 hours per day, 365 days a year.

Note, that the platform operates using GMT.

Customer Service

IQCent offers several customer support options. These include an international helpline phone number, a live chat service and an online email form. Alternatively, a direct email contact address is provided, although response times are slow.

A self-help FAQ section can also be found on the broker’s website organised into three useful topics; account, getting started and trading. Queries include how to delete an account, withdrawal options, why a profile is not verified or why a pending net balance is not available. Additionally, the broker is present on social media including Twitter, though posts are outdated.

IQCent Security

UK traders should be cautious when trading with IQCent. Our experts found the broker does not comply with standard KYC protocols, meaning identity verification is not mandatory.

Nonetheless, payments are protected with 3D secure and all transactions are SSL certified with 256-bit processing. You can also activate additional account protection from setup, including two-factor authentication at login.

Should You Open An Account With IQCent?

Our 2023 overview of has highlighted the pros and cons of trading with the brand. The broker provides access to 100+ assets with copy trading, unique platform features and weekend trading opportunities. However, when using the firm’s trading services, we did have some concerns. Firstly, the lack of robust regulatory oversight is a drawback. Combine this with the limited demo account and educational services and prospective traders may want to consider alternatives.


Is IQCent Regulated By The FCA?

No – IQCent is not regulated by the FCA. This means UK traders may not have sufficient protection against potential scams and financial losses in the event of broker insolvency.

Is IQCent A Legit Trading Broker?

IQCent is a legitimate broker offering binary options and CFD trading opportunities. However, there are some negative trader reviews online and the £250 minimum deposit means it may be out of reach for some beginners.

Who Owns IQCent Trading Broker?

IQCent operates under the trading name Wave Maker LTD, with headquarters located in the Marshall Islands. The company also owns and operates another binary options trading brand – BinaryCent.

Does IQCent Have A Rollover Option?

Yes – the IQCent rollover feature allows traders to extend a trade for 100% of a time frame on the first use. Every following use of the feature for the same trade will permit an additional 30% of time.

Is IQCent Free?

It is free to sign up for a new IQCent account. Spreads and commissions apply, varying by trading instrument. A minimum deposit requirement of £250 also applies.

Compare IQCent with Other Brokers

These brokers are the most similar to IQCent:

  1. World Forex - World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
  2. Videforex - Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
  3. Raceoption - RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.

IQCent Feature Comparison

IQCent Compared With Similar Brokers
IQCent World Forex Videforex Raceoption
Rating 3.7 4 3.6 3.5
Markets Forex, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Minimum Deposit $250 $1 $250 $250
Minimum Trade $0.01 0.01 Lots $0.01 $0.01
Demo Account Yes Yes Yes Yes
Regulators IFMRRC SVGFSA - -
Bonus 20% to 200% Deposit Bonus - 20% to 200% Deposit Bonus 20% - 200% Deposit Bonus
Education No No No No
Platforms - MT4, MT5 - -
Leverage 1:500 1:1000 1:500 1:500
Review IQCent
World Forex

Trading Instruments Comparison

Comparison of IQCent Trading Instruments
IQCent World Forex Videforex Raceoption
Binary Options Yes Yes Yes Yes
Ladder Options No No No Yes
Boundary Options No No No No
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Crypto Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes No Yes No
Silver Yes Yes No Yes
Corn No No No No
Futures No No Yes Yes
Options No No No No
ETFs No No No No
Bonds No No No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

IQCent vs Other Brokers

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IQCent is an offshore binary options and CFD broker based in the Marshall Islands with 10+ payment methods and a low $50 starting deposit. With 100+ assets, around the clock trading and high payouts the brand is popular with aspiring short-term traders.