1/5
IQCent Review – Get Help if you are a victim of IQCent Scam
Upon visiting IQCent, one cannot help but notice its intriguing blend of elements from both a forex broker and an online casino. The platform cleverly incorporates visuals that strike a balance, keeping users focused on its primary identity as a forex brokerage without going to extremes. The website boasts visually appealing aesthetics, occasionally giving the impression of a dynamic start-up rather than a traditional FX brokerage firm. However, it is important to exercise caution and not rely solely on appearances when evaluating a broker’s trustworthiness.
Many illegal FX brokerages employ attractive visuals as a deceptive tactic to mislead unsuspecting investors. The question arises: does IQCent fall into this category? Continue reading this IQCent review to uncover the truth.
Broker Name- IQcent
Broker Website – https://www.iqcent.com/
Address of the broker – Marshall Islands
Broker Company – Wave Makers LTD
Broker Regulation – No Regulation
Warned by- Portugal Regulators
Domain Age Information of Accet Mining
| Domain Name | iqcent.com |
|---|---|
| Date Registered | January 31, 2017 |
| Domain Age | 6 years, 4 months, 22 days, 12 hours, 41 minutes, 33 seconds |
Understanding IQCent’s Ownership and Regulatory Concerns
It is essential to examine the ownership and regulatory aspects of IQCent. The platform is owned by Wave Makers Ltd, a company based in the Marshall Islands. It is worth noting that the Marshall Islands, along with Saint Vincent and Grenadines, are known for having less stringent regulatory frameworks compared to other jurisdictions. This raises concerns regarding investor protection.
In particular, the regulatory authority in the Marshall Islands does not prioritize rigorous oversight of brokers operating within their jurisdiction. Furthermore, there is no obligation for companies to establish a compensation fund to safeguard client funds.
In simple terms, if a broker such as IQCent engages in fraudulent activities and misappropriates your funds, there are limited avenues for seeking recourse or lodging complaints.
IQCent Warnings
IQcent, an unregulated offshore broker, has recently raised significant concerns, particularly in Spain and Portugal, where it has been flagged as a scam. The offshore nature of IQcent alone significantly diminishes its credibility, leaving investors with minimal trust. However, the situation worsens as one of the major financial regulators in Europe, namely the CNMV in Spain and the Portuguese Securities Market Commission (CMVM) in Portugal, have initiated investigations into IQcent. These regulatory bodies have gone so far as to blacklist IQcent as a scam, prompted by numerous customer complaints regarding the inability to withdraw their funds.
Investors are advised to prioritize their financial security by opting for regulated brokers who operate within a transparent and accountable regulatory framework. By doing so, they can significantly mitigate the risks associated with unregulated and potentially fraudulent brokers like IQcent.
IQCent’s Withdrawal Restrictions
IQCent exhibits a concerning practice of denying withdrawal requests from its clients. The broker has gained notoriety for its enticing offer of requiring only a $20 initial deposit and providing a 100% bonus on top. However, accepting this bonus comes with specific terms and conditions that restrict clients from withdrawing their funds immediately.
According to IQCent’s website, clients are required to achieve a certain rollover within 30 days before they can initiate a withdrawal. Given the low initial deposit of $20, reaching this rollover requirement becomes virtually impossible. This intentional mechanism ensures that clients are unable to access their funds for a minimum of one month.
By implementing such stringent withdrawal restrictions, IQCent effectively hinders its clients from reclaiming their money, perpetuating a cycle of frustration and financial entrapment.
Are you a victim of the IQCent scam? Report Scam will help you in recovery
If you have fallen victim to a scam perpetrated by IQCent or a similar illicit operation, we are here to assist you. Contact us, and we will arrange a free consultation to guide you through the chargeback procedure. Our experienced team is dedicated to helping victims of scams recover their funds and navigate the necessary steps to seek justice.
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Note: The IQCent review written above is totally influenced by the other reviews of IQCent already present on the web. We are not liable for any legal action from the IQCent company. In case of any query please mail us at info@reportscam.net.
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