UPDATE 20 November 2019: This exchange’s site is down. As we have not seen any info on scheduled maintenances or anything similar, it is our belief that the exchange is – put simply – dead. We have thus marked this exchange as dead in our database.
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A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of iQuant consists of four parts: general information, fees, deposit methods and security.
iQuant is a Hong Kong coin exchange, run by Hong Kong company Hongkong Kaichuang Fucheng Technology Co.,Ltd. Hong Kong is the country in the world where the largest number of coin exchanges have their homebase. Also, the world leading exchanges Binance and KuCoin have their headquarters in Hong Kong.
Concerns have been expressed about iQuant in various cryptocommunity forums. On bitcointalk.org, one user says that you can never make smooth withdrawals. Another user claims that it is a scam site due to insufficient tracking on etherscan.io. A third states that it is “very slow”. While these concerns could just as well be expressed by people working at competing exchanges, they could also be true concerns. Accordingly, we recommend you to be cautious.
Cryptocurrency Hedge Funds
At this platform, you can not only buy cryptocurrencies. You can also buy shares in hedge funds. On 17 July 2019, there were five crypto hedge funds available for purchase, two focusing on BTC, one on ETH, one on USDT and one on EOS.
At the date of first writing this review (10 October 2018), the exchange’s 24 hour volume was USD 230,000 (out of which the ETC/BTC trading pair represented USD 176,000). This put the exchange at place 150 or so in the list of exchanges ranked in relation to the size of their 24 hour trading volumes. However, the situation has improved drastically since then. On the date of last updating this review with respect to trading volume data (17 July 2019), the 24 hour trading volume was a staggering USD 67.6 million. This placed iQuant on place no. 61 on the list. Incredible.
iQuant does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
iQuant Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at iQuant:
iQuant Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something we call a “flat fee model”. iQuant’s flat fee is 0.10%. This is below both the global industry average and the domestic Hong Kong industry average. It is accordingly a competitive fee level.
iQuant Withdrawal fees
iQuant states on its website that they’ll “adjust the withdrawal fees according to the blockchain conditions regularly”, which is quite common practice. Today, they charge 0.0005 BTC when you withdraw BTC. This fee is below the industry average and thus constitutes somewhat of an advantage against the majority of other top crypto exchanges in the market.
This particular exchange is not suitable for beginners as the exchange only permits cryptocurrency deposits. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. iQuant received an F in this test. This is below industry average and is thus not a competitive advantage at all for iQuant.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: