IQ Mining – Trading Platform Review & User Feedback 2023

IQ Mining is a cloud mining and trading platform that offers forex trading, CFDs, margin and binary options trading. Cryptocurrency trading, as well as cryptocurrency cloud mining services, complete the product offering. IQ Mining offers over 100 altcoins for mining and trading activities.

General Information

IQ Mining is a trading and cloud mining option founded in the year 2016 by a team of advanced programmers and engineers under the Cent Group LTD. The same group also manages the brand. Registered in the Republic of Vanuatu, IQMining is licensed and regulated by the Vanuatu Financial Services Commission (VFSC). IQMining offers its services as a web-based platform that is available in different languages, including English, Russian, Chinese, German, Thai, French, Spanish and many others. Clients have a large number of tools with which they can explore the various markets they are interested in. Customer support is also easily accessible, as clients can contact the team using a generic ticket form.

Advantages and Disadvantages

Clients who use IQMining are sure of having the following advantages:

Powerful miners: cloud mining with IQMining is swift due to the plethora of strong, powerful, and durable mining machines used in the mining farms. The mining rigs are the latest models and are connected to some of the best computer networks in the industry. By using smart contracts, IQMining also makes use of multiple data centres to reduce the costs of power supply.

High hash rates: clients can expect to get the best hash rates in the mining industry when they use IQ Mining. The hash rates are high and hardly found with other cloud mining platforms.

Easy switch of funds: clients who want to invest in forex and cryptocurrency trading can simply switch their funds from the mining profit to funding their forex trading accounts. This feature makes it very easy to deposit funds into the trading account as affected clients do not have to use other stressful funding processes.

Low minimum and Daily payouts: IQMining allows clients to withdraw profits daily. The minimum withdrawal threshold is also low.

Deposit bonus: clients can be sure of getting at least a 25% bonus on their deposits.

Low market spreads: the forex market has low spreads designed to enhance the profit potential for traders.

Easy conversion of altcoins: IQ Mining mines altcoins for clients and can also convert these coins into bitcoin once the mining process ends. This allows for easy withdrawals.

No mobile platform: IQMining has no mobile trading or mining platform as at now and clients can only access the functions using the proprietary web-based platform.

Trading Conditions

IQMining offers two primary services; cloud mining and cryptocurrency/forex trading. Depending on which services clients go for, they have some of the best trading conditions. Cloud mining services come with a minimum of 300 MH/s, and cryptocurrency/forex trading comes with a minimum deposit of $250. Deposit, maintenance, and withdrawal fees are low.

Clients can also select a lifetime contract of 1, 2, 5-year, or lifetime contracts.

Bonuses of 10% are added to every payout, with 1 Bitcoin being the minimum payout sum. Clients who choose to mine can purchase the following:

• Scrypt mining of 3000 MH/s for $840
• SHA-256 of 3000 GH/s at $240
• Etherium mining of 30000 KH/s at $540
• Zcash mining of 300 H/s at $480
• Dash mining of 300 MH/s at $840

 

There is a mining pool with around 150 altcoins but only the most accessible coins at the given period are traded. IQ Mining regularly gives out valuable prizes on contests held monthly. These prizes are apple products and are available to clients who meet the requirements of the competitions.

Underlying Assets

IQ Mining offers a variety of altcoins as assets for trading. Some of them are Zcash, Dash, Monero, Bitcoin, Litecoin, Doge, Etherium, Bitcoin Cash, etc. These are offered to clients for binary options, forex, and CFDs trading. Once these coins are fully mined, IQMining helps with converting the other altcoins into bitcoin so the clients can easily convert them into fiat currency. The minimum trading investment is low, and yet, returns are as high as 90%.

Trading Platform

The platform on which IQ Mining runs is hosted on its official website. The website has a well-designed homepage intended to give a great user experience. There are introductory notes and then a switch type of button that toggles information between the cloud mining services and the forex trading services. Clients can access either of them at a given time, and go on to register, and start earning. For mining, clients can choose various packages which display a list that shows the mining power (hash rates) they can purchase. For forex trading, clients can choose from the different trading accounts presented.

Mobile Trading

IQ Mining currently has no mobile trading platform. Clients can only mine and trade from the official website.

Demo Account

IQMining offers a free demo account for miners. Clients can try out the mining service for seven days. This is available for all the contracts and is worth about $100. As expected, this will encourage new users and visitors to try the demo account and get familiar with the practices and services of the cloud miner.

Account Types

IQMining offers several different accounts on both the cloud mining and the forex trading services.

Cloud Mining Accounts

The cloud mining accounts are three-tiered; there are Bronze, Silver, and Gold accounts. These accounts are available on all types of mining categories such as Scrypt mining, SHA-256 mining, Etherium mining, Zcash mining, Dash mining, etc.

The Bronze Account – these accounts come with a minimum of 300 MH/s, and typically have a maintenance fee of $0.003 per 1 MH/s per day.

The Silver Account – silver accounts come with as low as between 300 and 3000 MH/s, and they have the same maintenance fees.

The Gold Account – the gold accounts cost as low as 3001 MH/s and the maintenance fee is $0.001 per 1 MH/s per day.
Each account is eligible for a 25% deposit bonus, and there are no fees attached. Clients can track the mining process at any time and monitor the hash rate. Returns range from as low as 60% to about 128% per year.

Forex Trading Accounts

The forex trading accounts are also three-tiered and are named Bronze, Silver, and Gold. The trading accounts come with minimum deposit requirements of $250, $1000, and $3000 respectively. Each account has a dedicated account manager, and also a 24/7 customer care service that can be reached via online chat and by email.

Opening an Account

On the website, there is a button that can slide either way to select either the cloud mining or the forex trading options.

To open a cloud mining account, a client has to:

1. Click on the START MINING NOW button on the home page.
2. Input the required data: name, surname, mobile number, email, and then a password.
3. Check the terms and conditions agreement box.
4. Submit and fund accounts.

 

The forex trading service is similar in the registration process. Clients only have to click the ”Register” button, fill in the details requested, and check the appropriate boxes. After that, the client receives the login details via email and then trading can begin.

Clients are not immediately required to provide identification documents upon registration. These must be submitted for verification before profits can be withdrawn from the forex trading account.

Funds Withdrawal

All accounts must be funded before trading or mining can begin. IQMining accepts a wide variety of methods for deposits and withdrawals. Clients can fund their accounts using Bitcoin, Etherium, Litecoin, and any other cryptocurrencies. IQ Mining also accepts the use of MasterCards or VISA cards for funding. International wire transfers carry no deposit fee.

For funds withdrawal, clients can only withdraw funds from the profits made on their mining or trading accounts. Withdrawals and deposits are processed quickly and will reflect on the mining or trading account within an hour. However, withdrawals could take a couple of hours or more to be processed into the bank account.

Trader Training

IQMining offers no training for traders. Clients have access to an easily navigable web platform, and forex trading accounts have the support of dedicated account managers.

Should I Trade with IQ Mining?

Yes. Trading or mining with IQMining is very profitable and secure. With the advanced miners and trading robots available, clients have the best advantage in taking profits from the market. The platform is easy to use; instructions are clear and well-explained. There are readily available account managers and customer support for all clients. The returns are great, and withdrawals are fast. Miners are designed with strong GPUs and CPUs, and electricity consumption is well-utilized and efficient. IQMining has six different data locations that bear the cost and work of keeping the cloud mining operation running. In summary, IQ Mining is one of the best mining and trading platforms clients can make use of today.