You also need a mac with xcode
It´s also possible to get it working fine in a VM (virtual box) but that one was quite a task to get working properly (also emulating won´t work I think, because you´ll have an iphone emulator running on a virtual mac running on a windows machine, at least my pc didn´t manage but might be possible). But still, that doesn´t circumvent the developer account.
IIrc you can create a debug .ipa that only work on specific devices, not sure anymore if you get the actual file or have to deploy it via a beta-channel in the store.