IQCent is a successor of IQOption, a binary options trading firm. The company offers Forex and CFD trading while faking a license.
Since all we found were warnings and complaints, we decided to compile a detailed IQCent review. Going through it, you will understand why you should not invest with this firm under no circumstances.
Let’s put it this way. The broker wants to convince you otherwise, but IQCent regulation doesn’t exist.
The firm belongs to Wave Makers Ltd, registered in the Marshall Islands. This country has an independent regulator, GLOFSA, belonging to a Tier 3 zone. Unlike European and US regulators such as BaFin, CONSOB, or CFTC, GLOFSA has no requirements regarding minimum capital or leverage restrictions, such as the one imposed by ESMA. Generally, it lets brokers operate under the radar.
While onboarding clients from all over the globe, IQCent doesn’t comply with any criteria regarding fund safety. The company claims to hold customers’ funds in top-rated European banks without specifying any. So we have reason to believe it’s just part of their sales pitch to entice retail traders such as yourself to deposit the money.
What’s more, the company says it allows you to earn “up to 95% in 5 seconds.” It seems as if they never left their binary options scam; they just masked it behind regular trading.
If you have any information about this fraudulent broker, let us know.
While claiming to be licensed, IQCent is nothing but a bogus site without actual value. The firm has been banned in Portugal and numerous other EU countries.
As mentioned, IQCent would like you to believe they hold a license. In fact, they gave us an alleged regulation by IFFMRC and a link leading to it.
If you check the given website, you will see that it’s clearly bogus. This alleged license provider doesn’t belong to any country but serves for scammers to buy licenses and scam investors. We’ve seen it several times in our long years of investigating brokers.
Don’t fall for whatever you read. Make sure to verify every piece of information. Our research just crushed IQCent’s reputation.
Our analysis shows that the IQCent trading scam is mainly active in:
Hence, the Portuguese regulator was the one to give us an official warning.
Besides regulators, we’ve also checked what traders have to say. The broker earned quite a negative reputation all over the internet.
IQCent trading platform is praised throughout the website as “seamless and flexible.” However, there is no access to it. The company doesn’t offer any links leading to their proprietary WebTrader, nor do they have a risk-free Demo.
Therefore, we’re unable to comment on whether or not you will get any software and what kind of it. What we can say is that we always advise trading with regulated brokers that have third-party software such as MT4, MT5, and cTrader on offer. These are highly reputable and reliable.
The company advertises four classes of trading assets, those being:
Stocks are not listed, and we cannot even confirm the assets from above without the platform.
Of course, we know nothing about spreads, swaps, and other fees. All we know is that the leverage goes up to 1:500, against most Tier 1 regulations.
You can choose from the 3 IQCent account types:
The minimum deposit is not specified, but bonuses increase from 20% to 50% and 100%, respectively. Moreover, the last two accounts have three risk-free trades included, while the Gold one also has a web session with a master trader.
While claiming to offer a Demo account with all account types, we could not find it even upon account registration.
The minimum investment to open an account with the firm is $20; probably another thing they kept from their binary options days.
As mentioned, IQCent offers different bonuses and promotions. However, these are not free. The company will request clients to comply with outrageous bonus rules, including the consequences of not having the bonus amount 3x in turnover. In such cases:
Now, the problem is to prove how much of your profit was made from bonus funds and how much from the deposit. As you can tell, it’s a classic lure to keep all customer funds and refuse withdrawals.
IQCent withdrawals, as well as deposits, can be made through the following payment methods:
The problem with crypto transactions is their relative anonymity and transaction encryption, which makes it difficult to recover money in case of losses. That’s why most scam brokers choose it as a preferred option.
IQCent charges 5% for card withdrawals but no fees for crypto. It’s clear why.
Being a victim of the IQCent scam is nothing to be ashamed of. In fact, there are many people in your situation. Global Fraud Protection assisted some of them in filing a dispute for a chargeback or tracing their digital coins with our CipherTrace experts.
Don’t wait. Time is of the essence. Book your free consultation now and allow us to review your case.
IQCent is not a legit broker, and you should avoid it. In the event you already lost money with the scammer, we may be able to assist you with the recovery.
IQCent claims to offer only WebTrader, but we couldn’t access their platform.
Considering the number of regulatory bans and negative reviews, it’s clear that your funds are not safe with IQCent.
IQCent is not a legit broker, and you should avoid it. In the event you already lost money with the scammer, we may be able to assist you with the recovery.
IQCent claims to offer only WebTrader, but we couldn’t access their platform.
Considering the number of regulatory bans and negative reviews, it’s clear that your funds are not safe with IQCent.
The post IQCent Review 2023 – Your Money Is In Danger With This Broker appeared first on Global Fraud Protection.
