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iQuant (5iquant) Review - is it scam or safe?

iQuant (5iquant) Review - Is 5iquant.org scam or safe cryptocurrency exchange?

RATING: 1.6 / 1 REVIEWS iQuant (5iquant)
iQuant (5iquant) is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 Undisclosed Undisclosed Undisclosed



iQuant is a Chinese cryptocurrency project. They plan to create a new blockchain environment, in which people can develop new applications and smart contracts, as well as, integrate traditional financial markets. In this review, we will not focus on the viability of the entire system, but look at the exchange which is provided by the team at 5iquant.org. We will take the approach of an active trader, as we do in all of our reviews.

 


iQuant Advantages

 

Bold project – we find the claims by this team to be quite significant. While most of them are not implemented yet, iQuant wants to bridge the gap between traditional financial markets and the world of crypto. While their presentation is a bit confusing, one of their videos states, they will aim to provide automated trading algorithms. A big idea may be risky, but there is a certain charm in broad strokes.


Team is transparent – unlike many other cryptocurrency trading websites, this one provides information on the people behind the project. They may not be that famous, but at least they show their faces. The only one on the list which rings a bell, is an advisor, who has created a forex social trading website.


Expanding list of altcoins – the coins currently traded at iQuant aren’t that many, but their number is growing. At the time of writing most volume is attracted by: IQT (the company’s own token), SKY and QRL. The more famous altcoins at the exchange are ETH, LTC and XEM, while BTC and USD are used as the main coins, against which you trade.

 


iQuant Disadvantages

 

Chinese exchange – the first risk in dealing with this exchange is the fact, they may be affected by future regulatory restrictions by the Chinese government. This is an issue mainly based on the occasional rumors, but we feel the need to mention it nonetheless.


Poor presentation – despite making big promises for the future, iQuant doesn’t make them clear. On one hand they seem to be the next Ethereum, but will also offer automated trading on non-crypto markets. This may sound easy to grasp, but it took us quite some time to reach this conclusion (and we aren’t 100% on the accuracy of the statement).


The trading conditions on the current iteration of the trading platform are also not stated anywhere. We decided to sign up, just to see what the fees are.


Account creation has issues – when opening an account at the iQuant exchange, we didn’t receive a confirmation e-mail. We hope this is a temporary problem, which will be resolved in the future.


Basic charting – although we don’t have an account at iQuant, we can see the basic layout of the exchange. Everything seems to be arranged nicely, but the charts are very simple. We would much prefer a solution like TradingView. Here is a screenshot:



USDT traded – beware when trading with coins, which are pegged to fiat currencies. The most famous one USD Tether has been probed by the authorities, due to suspicion they don’t have enough money to back the number of tokens created.


>>Exchanges supporting bank transfers<<


Altcoins are not the majors – the priority in which iQuant has added altcoins is rather strange. This isn’t a big issue, but you may not see the assets you were expecting. Check the beginning of the review for the list.


No margin (for now) – while iQuant does not currently offer leverage, this may change in the future, especially if they integrate more traditional assets. Presently, the forex brokers, which offer crypto CFDs are a better alternative for aggressive traders.


>>Bitcoin forex (CFD) brokers<<



We must clarify Contracts For Difference (CFDs) are not the same as buying a particular coin. These are new instruments, which only follow the price action of Bitcoin and the like. You will not be able to send any coins to wallets, but only speculate with their price. This has positive and negative implications, which you can find here.



Conclusion



iQuant is a Chinese cryptocurrency platform, which has set high goals for itself. We can’t give a reasonable assessment on their overall potential, as the world of cypto is very dynamic – they may become the next Etherum, or they may fail. The current iteration of their exchange is not up to par with the rest of the industry, due to the multiple issues which we covered.


In case you are looking to aggressively trade cryptocurrencies, you can go to another exchange. In case you want to be a bit more secure with your investment and even want to go short the market – check out forex brokers. Keep in mind, some of them can be dishonest, so be sure to look for a well regulated ones.


>>Regulations for Bitcoin forex brokers<<


Here is a summary of the current state of iQuant:

Pros
Cons
Bold project Chinese exchange
Team is transparent Poor presentation
Expanding list of altcoins Account creation has issues
  Basic charting
  USDT traded
  Altcoins are not the majors
  No margin (for now)

 

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Traders` reviews for iQuant (5iquant)

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Scam: I'm flabbergasted by the silence of IQUANT

You are advertising for a platform called Iker: it's a scam: send no funds on this platform: customer service is non-existent: it never responds I sent funds last night on this trading platform and my funds are still not available at the time of writing this post I am particularly flabbergasted by the silence of IQUANT who confirms that the transaction of deposit on the site is a success but no amount of the currency concerned n ' is visible.
This is an unacceptable attitude and it seems that I'm not the only one
Despite my reminders, the support of Iquant does not answer any questions
If this situation continues I will inform all the sites that advertise this platform in the way that Iquant manages its customers.
I dropped Bitcoins and they disappeared. Today I have no consideration and I do not know where my funds went
I will also inform via all the professional social networks in which Iquant is present and I will flood the web, the forums to inform as many people as possible about the malfeasance
The last resort I will lodge a complaint.

Jules Nzoughet 05/23/2018
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