IQCent Review: Embracing Social Trading and Community Features

A short glance at IQCent broker’s website told us many things we needed to know. Starting from a 100% bonus to offering only a web trader and some lousy story about being the best, IQCent made sure we add it to the fraud list.

Read our IQCent review, and you will see why.

Broker status: Offshore Broker
Regulated by: Unlicensed brokerage
Scammers Websites:
Blacklisted as a Scam by: CMVM, CNMV
Owned by: Wave Makers Ltd
Headquarters Country: Marshall Islands
Foundation year: 2021
Supported Platforms: Web trader
Minimum Deposit: $20
Cryptocurrencies: Yes
Types of Assets: Forex, indices, stocks, commodities, options, cryptocurrencies
Maximum Leverage: 1:100
Free Demo Account: Yes
Accepts US clients: No

IQCent Regulations and Security

First of all, the brand is owned by Wave Makers Ltd from the Marshall Islands. Out of all the offshore countries, Saint Vincent and the Grenadines and the Marshall Islands have the worst regulators out there. GLOFSA, an authority body from the Marshall Islands, doesn’t pay too much attention to brokers opening headquarters on their territory. At the same time, they do not oblige any company to have a compensation fund.

Simply speaking, if a broker steals your money, you have nowhere to complain.

IQCent Warnings From Financial Regulators

According to IQCent warnings, it looks like the broker is mainly active in Europe. The first one to issue an official warning was Portuguese CMVM.

CMVM issues a warning for investors concerning Wave Makers Ltd (IQCENT)

This warning was followed by the same one coming from Spanish CNMV.

If up to now you were not convinced that we’re dealing with a scam, now you should be.

Beware of the IQCent scam and similar brokers such as QteckRaxTrade, and Tredexo.

Fund Withdrawal Issues

As any notorious fraud, IQCent doesn’t allow withdrawal requests either. The broker is well-known for the fact it requests only $20 as an initial deposit and offers 100% of the bonus on top. Once you accept the bonus, you’re accepting terms coming with it. As per the broker’s website, you cannot withdraw the money before reaching a certain rollover within 30 days. And with $20, this rollover is impossible to achieve. That’s how the company’s making sure none of the clients will take their funds for at least one month.

Traders Opinion

Besides the scam with bonuses, traders are complaining about web trader. According to IQCent reviews, nobody can access their trades, there are a lot of lags, and market prices are constantly changing differently than in reality. If you expose your funds to the market, it’s essential to have fast and responsive software and accurate prices. Otherwise, your account will end up in a loss, which is IQcent’s goal.

How Does Online Trading Scam Work?

All of the experiences so far are the same. You sign up for online trading based on the advertisement you see. The moment you submit your details, the company’s employees start harassing you until you make an initial deposit. And once you do, some sort of financial adviser will tell you why $20 is not enough and that only money can make money.

But the problem is this. If only money can make money, and you do make money, why can’t you withdraw it? Because you dealt with a bogus broker.

Scammed by IQCent?

If you get scammed by IQCent or a similar illicit operation, let us know. Our support team will book a free consultation regarding the chargeback procedure.

But what is a chargeback?

It’s a way to reverse the transaction and get your money back from the merchant. Yet, there are specific steps you must follow. Our experts will provide you with complete guidance and stay with you until you get your money back.

Don’t let scammers go away for free, contact us now!

What is IQCent?

IQCent is an online trading brokerage from the Marshall Islands without a regulation.

Is IQCent a scam?

IQCent has been blacklisted by the Spanish CNMV and Portuguese CMVM for conducting fraud.

Is IQCent regulated?

IQCent is not a regulated or licensed company and provides financial services illegally.

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