US investors permitted
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.
iQuant supports a decent number of cryptocurrencies, you will find most of the big ones here (Ethereum, Bitcoin, Qtum, Dash, Bitcoin Cash, Litecoin etc.). Liquidity, however, is low. At the date of 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 puts this exchange at place 150 or so in the list of exchanges ranked in relation to the size of their 24 hour trading volumes.
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.
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 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: