September 20, 2023 IQ Cent offers both Binary Options and Contracts for Difference (CFDs). They were founded in 2017, but did not start accepting retail clients until 2020. All trading takes place on the proprietary IQ Cent platform; you will not get access to any third-party platform.Examples of available underlying asset types are stocks, stock indices, forex, cryptocurrency, and commodities.The highest-paying binary options here pay out 95%.The minimum deposit is $50.Maximum leverage for CFD trading is 1:500. You will not have Negative Account Balance Protection.For a while, IQ Cent did not have any mobile apps, which was a downside with this broker. Traders who wished to trade on their mobile devices had to open the trading platform in the browser window of their phone or tablet, and the trading experience suffered. Now, this problem is over, because IQ Cent has launched downloadable trading apps for both iOS and Android devices.Check out IQ Cent risk-free with a Demo AccountOpening an IQ Cent Demo Account is free and you do not have to make any deposit to get access to the account.Is IQ Cent licensed by the Australian Securities & Investments Commission (ASIC)?No, IQ Cent is not licensed by the Australian Securities & Investments Commission (ASIC), because the issuing and distributing if binary options to retail clients can not be licensed by ASIC.The issuing and distribution of binary options to retail clients have been prohibited by ASIC since May 2021. Australian retail clients are not prohibited from buying binary options; it is the issuing and distribution that is banned. In September 2022, ASIC announced that the ban had been extended until 1 October 2031, following approval by the Honourable Stephen Jones MP, Assistant Treasurer and Minister for Financial Services.About IQCentThe broker IQCent is operated by Wave Makers Ltd. This company is based in the Republic of the Marshall Islands, a small island nation in the Pacific Ocean where the issuing and distribution of binary options to non-professional traders is still legal.Wave Makers Ltd company address:Wave Makers LTDNr. 103581Trust Company Complex, Ajeltake Road, Ajeltake IslandMajuro, Marshall Islands, MH96960Can I have the Australian dollar as my account currency?Yes, the Australian dollar (AUD) is one of five currencies available as account currency at IQ Cent. The other four are the United States dollar (USD), the Euro (EUR), the Sterling (GBP), and the Russian ruble (RUB).Many Australian traders prefer having the AUD as their account currency, as having another currency will involve currency risk.The proprietary IQ Cent trading platformWith IQ Cent, you will not get access to any third-party trading platform – all trading takes place on the proprietary IQ Cent trading platform which was developed specifically for IQ Cent and is only used by traders with an IQ Cent account.The proprietary IQ Cent platform can not be downloaded and installed on a desktop computer. It opens in the computer´s internet browser window and that is where all trading and other tasks will take place. Since there is no software to install, it does not matter if you have a Windows computer, Apple computer or something else.The platform is sleek and not cumbersome to understand and navigate. It is very easy to customize binary options at the IQ Cent platform. Go to the order screen for binary options and select the underlying asset. You can use the search feature, the filter feature or the drop-down bar to find what you are looking for. Then, select the timespan category (turbo / intraday / long-term) and set the lifespan/expiry of your choice. Use the plus and minus icons to adjust the stake (trade size) to fit your trading strategy. Finally, add your price prediction – up or down. (IQ Cent is focused on High/Low binary options.)Certain special features are available for binary options on the IQ Cent trading platform. Here are a few notable examples:The Double-Up Feature. If you have an active binary option, you can use this feature to essentially double-up the trade size. It works by creating a duplicate position with the same underlying asset, price direction, stake and expiry time.Roll-over. Do you have good reasons to believe your active binary option just needs some more time to get into the money? With the roll-over feature, you can extend the lifespan of an active option – and you can do it several times if you want to. You can extend it by 100% the first time, but only for 30% each following time. Roll-over is only available for options that are currently out-of-the-money and have reached the last quarter of the original lifespan.Sell-Out. This feature allows you to close a position right now instead of waiting for the binary option to expire as planned. This is a profit taking tool and it is available when the position is showing a profit of a least 0.1%.Technical analysisTools for technical analysis are included in the platform, for all traders. You will for instance get access to customizable charts with six time-frames (M2, M10, M30, H1, H4, D1), and several indicators – such as average range, momentum and relative strength. Use features such as drawing utilities and text to get your strategy correct.Copy tradingThe IQ Cent trading platform comes with built-in features to facilitate copy trading. They are very easy to use, even for a novice trader. Copy trading can be a fun and interesting way for beginners to learn from more experienced traders, so the system was designed to be really easy to use and is available regardless of account level.The performance of the top-10 traders are on display and you can see information such as profit percentage and location, which might help you select which trader or traders to copy.Trading hoursTrading is available 24/7 on the IQ Cent trading platform, but exactly which underlying assets that will be available depends on the trading hours of their respective markets. Cryptocurrency speculation is always available.Additional infoYou will get access to free market analysis and trading tips directly on the platform.IQCent does not offer P2P Trading.The platform displays economic news and comes with an economic calender.Trading on mobile devices (smartphones and tablets)For a while, IQ Cent did not have any mobile apps and traders who wished to trade on their mobile devices had to open the trading platform in the browser window of their phone or tablet. Now, IQ Cent has finally launched new downloadable trading apps for both iOS and Android devices. Both are high-quality apps that are easy to install and use.Binary optionsUnderlying assets and productsThe main categories for underlying assets at IQ Cent are shares, stock indices, forex, cryptocurrency, and commodities. The shares are typically from big, well-known companies and traded on major stock exchanges. Examples of stock indices that are available for speculation are S&P500 and FTSE100.You can use the binary options at IQ Cent to gain exposure to over 40 different currency pairs. When it comes to cryptocurrency speculation, roughly a dozen different cryptocurrencies are available. You can for instance gain exposure to Bitcoin and Dogecoin.The category for commodities includes both energies and metals. You can for instance speculate on the prices of Brent crude oil, copper and gold.Binary option typesThis broker is focused on classic High/Low binary options. They do not have Ladder binary options or Boundary binary options.LifespanIQ Cent offers turbo option, intraday options and longer-term options. Standard turbo options are available with lifespans from 3 minutes and up, but sometimes it is possible to find turbo options here with a short lifespan than 3 minutes. However, if your trading strategy is based on binary options that expire very quickly after purchase (e.g. 5 seconds or 30 seconds), this is probably not an ideal broker for you. The standard assortment of turbo options at IQ Cent consists of options from 3 minutes and up, and you can adjust the expiry time in 1-minute increments, up to 30 minute lifespans.The intraday binary options have longer lifespans than the turbo options, but never last longer than 24 hours. When you speculate using intraday options with this broker, you set the lifespan in one-hour increments. The intraday binary options are popular among traders who do not wish to keep positions open over night.The longer-term options at IQ Cent will last for more than 24 hours and are available with lifespans up to 30 days. You set the expiry time using one-day increments.PayoutsThe binary options with the highest payout percentage at IQ Cent pay out 95%. Typically, they are based on stock prices. For binary options based on forex, it can be difficult to find any options that pay out more than 85%. For the binary options based on cryptocurrency, the payout span is very wide. Some pay out a mere 20% while others are up there around 70%-75%.Contracts for Difference (CFDs)In addition to binary options, IQ Cent also offers CFD trading, with floating spreads starting at 0.7 pips.Leverage is available even to non-professional traders, up to a maximum of 1:500. You will not have Negative Account Balance Protection.Exactly how much leverage you will be able to use on a certain trade is impacted by various factors, such as underlying asset and lifespan. It is unusual to be offered more than 1:10 leverage from IQ Cent for deals that involve cryptocurrency speculation.Margin calls are triggered at 5%.You will be charged an overnight fee (swap fee) if you keep a position open overnight.Account types at IQ CentTiered accountsIQ Cent have created a tiered account system, where the levels are named Bronze, Silver and Gold. The size of your first deposit will determine which account level you will start on, and will determine which welcome package you will be offered. With a Bronze Account, you only get a 20% welcome bonus on your first deposit. With a Silver Account, you get a 50% bonus, and on this level, you can also expect additional perks to show up, such as “risk free” trades and access to a master class. At the Gold Account level, the welcome bonus is 100% on your first deposit. You will get everything from the Silver level + special Gold level perks, including a personal account manager.Speciality accountsIQ Cent does not offer speciality accounts.Indian Demat AccountNo, this broker does not offer any Indian Demat Account.Islamic / Muslim / Halal / Sharia AccountNo, this broker does not offer any Islamic / Muslim / Halal / Sharia Account.STP AccountNo, this broker does not offer STP Accounts.ECN AccountNo, this broker does not offer ECN Accounts.DMA AccountNo, this broker does not offer DMA Accounts.MAM AccountNo, this broker does not offer MAM Accounts.PAMM AccountNo, this broker does not offer PAMM Accounts.LAMM AccountNo, this broker does not offer LAMM Accounts.Inactivity feeA $10 inactivity charge applies to IQ Cent accounts that are left unused for 90 days.Deposits and withdrawalsThe smallest deposit is $50 and the smallest withdrawal is $20.Requiring a $50 deposit is a little higher than some of the competitors. There are binary options brokers out there that will only require a deposit in the $1 – $20 range.IQ Cent does not charge a fee for processing deposits.A 5% withdrawal processing fee is charged by IQ Cent when you make a withdrawal to a credit/debit card.Transaction methodsThis broker accepts several different types of transaction methods, including credit/debit cards, wire transfer and cryptocurrency transfers.Examples of accepted transaction methods:VISAMasterCardBitcoin PaymentsEthereum PaymentsWire transferKYC checkTo comply with anti-money laundering routines, IQ Cent carries out Know-Your-Customer checks.A trader will need to complete the KYC check before they can start making withdrawals from their IQ Cent account. The check typically consists of you proving your identity and address, e.g. by digitally sending the broker a photo copy of your photo ID card and a utility bill in your name for your home address.Customer supportCustomer support is available through email, live chat and live video chat.The live video chat becomes available once you have a registered trading account up and running with IQ Cent. It is accessible 24/7.Without an account, you can still get help from the normal (text-based) live chat. It is available not only on the trading platform, but also on the IQ Cent web site, so you can reach it even if you don´t have an account with IQ Cent. (This can also come in handy if you have an account, but is experiencing issues logging in to the platform).Email address: support@iqcent.comWelcome bonusThe size of the welcome offer will depend on the size of your first deposit.Deposit up to $250 and get a 20% welcome bonus.Deposit more than $250 (but not over $1,000) and get a 50% welcome bonus.Deposit more than $1,000 and get a 100% welcome bonus.The bonus money comes with terms and conditions, including a trading requirement that needs to be fulfilled within 3 months. Make sure you understand the rules before you accept any bonus. You can turn down the welcome bonus if you want to.Trading tournamentsIQ Cent arranges week-long trading tournaments with bonus money and gadgets in the prize pot.Questions and answers about IQ CentWill I have Negative Balance Protection with this broker?No, you will not.Does IQCent offer Virtual Private Server (VPS) hosting?No, this broker does not offer VPS hosting.
