IQCent vs AAATrade

IQCent or AAATrade – which is better for UK traders 2024? Compare IQCent and AAATrade in this detailed breakdown of their platforms, features and fees.

IQCent vs AAATrade Comparison Table 2024
IQCent AAATrade
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3.7
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3.5
IQCent is ranked #2 among binary options brokers. AAATrade is ranked #97 among CFD brokers.
Review
Review
IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders. AAATrade is a forex and CFD broker established in 2013 and regulated by CySEC. The STP broker offers tens of thousands of Stocks, ETFs, CFDs, securities and cryptocurrency products on the proprietary and MetaTrader platforms. Traders can benefit from standard retail accounts as well as portfolio management and advisory services.
Pros
  • The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
  • The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
  • IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
  • There's an accessible $0.01 minimum stake for new traders with a small budget
  • Keen traders can take part in trading contests with cash prizes
  • I was glad to see commission-free trading available in the Novice account, though seasoned traders can also benefit from low commissions from 0.125% in the Experienced account
  • There's a good range of trading platforms, including the new AAATrader™ and MT5 mobile app. I particularly appreciated the broker's in-house crypto exchange platform
  • I feel assured the AAATrade is regulated by tier-1 authority, the CySEC and is also a member of the Investor Compensation Fund (ICF)
  • I like that there is no minimum deposit for both the Novice and Experienced Accounts, making the broker accessible for all traders
  • I was very impressed to find a $100,000 demo account available with free access to webinars and forex education
Cons
  • IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
  • The broker is not overseen by a respected regulator, though this is common among binary options firms
  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
  • The market analysis is very basic with limited technical summaries and insights from analysts
  • There's no automated trading support for algo traders
  • I'm a little disappointed that fees charged on deposits, which puts the broker behind most competitors offering free deposits
  • Crypto trading does not have the same protection or regulation as other markets, though this is industry standard
Awards
  • Best Binary Broker 2023 - DayTrading.com
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
Binary Options, CFDs, Forex, Indices, Commodities, Crypto CFDs, Forex, Stocks, Cryptos
Bonus
20% to 200% Deposit Bonus
Demo Account
Yes Yes
Minimum Deposit
$250 $0
Payment Methods
Minimum Trade
$0.01 $0
Regulator
IFMRRC CySEC
Mobile Apps
iOS & Android Yes (iOS & Android)
Trading App

IQCent offers mobile trading directly through major browsers with an intuitive design that we love. You can navigate your account, browse assets and trade binaries in a few clicks. Straightforward access to the copy trading feature at the bottom is also a bonus, alongside the interactive charts which you can pinch to zoom.
iOS App Rating
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4.3
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Android App Rating
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4.1
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Margin Trading
Yes Yes
Margin Rate
1:200
MetaTrader 4
No No
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No Yes
ECN Account
No Yes
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
No Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
A copy trading service is pre-integrated into the broker’s web platform, where you can follow and replicate the trades of up to 10 established investors. Where it shines is its ease of use - you simply decide how much you want to invest and hit 'copy'. On the downside, the pool of master traders is narrow and you get limited data on past performance, making it less reliable.
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • USD
  • EUR
  • GBP
Commodities
  • Gold
  • Copper
  • Oil
CFD
CFDs are available on forex, indices, commodities and cryptos, although the range of 100+ instruments is limited compared to alternatives such as Quotex with 400+. Leverage is available up to 1:500 but the $250 minimum deposit is noticeably higher than competitors. During my tests, I found thousands of leveraged CFD products across forex, indices, commodities, stocks and cryptocurrencies. Commissions are competitive and I particularly enjoyed using all the free CFD trading resources available in the demo account.
Leverage
1:500 1:200
FTSE Spread
1.4 0.5
GBPUSD Spread<
0.8 0.00002
Oil Spread
0.05 0.10
Stocks Spread
N/A Floating
Forex
IQCent traders can access CFDs or binary options on 45+ forex pairs. CFD spreads start from 0.3 pips and binary options payouts are decent up to 95%. This is competitive compared to Pocket Option, for example, offering forex payouts up to only 81%. AAATrade offers 80+ forex pairs, including majors and minors, which is a competitive range and more than most brokers I have reviewed. I was also able to take advantage of the broker's daily technical insights with chart analysis, as well as the live economic calendar.
Assets
49 10000+
GBPUSD Spread
0.8 0.00002
EURUSD Spread
0.3 0.00002
EURGBP Spread
0.8 0.00002
Cryptocurrency
IQCent offers 17 crypto pairs through its proprietary terminal, including Bitcoin, Ethereum and Litecoin. Leverage on crypto CFDs is capped at 1:10, whilst binary options payouts vary by token but remain competitive. OTC assets, for example, pay out up to 95%. I was impressed with AAATrade's range of 50 cryptocurrencies, including Bitcoin and Ethereum, which is more than most brokers I review. I was particularly glad to see a good mix of crypto-crypto pairs, as well as some crypto-fiat pairs against USD and EUR.
Spread
Variable Floating
Coins
  • BTC
  • ETH
  • LTC
  • ETC
  • DOGE
  • MATIC
  • QNT
  • SOL
  • XRP
  • USDT
  • XMR
  • BNB
  • BCH
  • BTC
  • EOS
  • ETC
  • ETH
  • LTC
  • USDT
  • DOGE
  • XLM
  • XRP
  • XTC
  • ZEC
  • ADA
  • ATOM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No Yes
Binary Options
IQCent offers binary options with above-average payouts up to 98%. The broker supports an online platform with basic analysis tools but a wide range of timeframes, from 1 minute to 1 month, catering to short and long term trading strategies. Considering the negatives, there are no binaries on stocks.
Payout
98%
Expiration Times
5 seconds - 1 month
Boundary Options
No No
Ladder Options
No No
IQCent AAATrade
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