Unique Selling Points
1. Lot Back Program: Through the Lot Back Program, IUX acknowledges and rewards trading activity. This three-tier program allows traders to earn IUX Points, which can later be redeemed for credit bonus rewards. There's no need to complete any forms or sign up for this program. Simply by engaging in trading, clients automatically become part of it. All real account holders start at the executive level, and their loyalty status is upgraded over time. With each upgrade, the amount of LotBack (IUX Markets Points) earned per trade increases proportionally. Clients can conveniently monitor their LotBack balance and its equivalent value as a credit bonus.
2. Introducing Broker Program: IUX also offers an Introducing Broker Program that enables individuals to earn a share of the revenue by introducing others to the platform. This program starts at a 25% revenue share and can go up to 50%. The payouts are made daily, and there are multiple commission tiers, making it a flexible and potentially lucrative opportunity. Furthermore, earnings from this program continue for a lifetime as long as the referred clients remain active. The program provides tools for tracking and monitoring clients' performance in real time, ensuring transparency and ease of management.
3. Affiliate Program: For bloggers, website owners, and publishers, IUX presents the Affiliate Program. This program offers revenue opportunities through various affiliate plans, with the potential to earn up to $10,000. It features multiple affiliate models and cutting-edge marketing tools, making it suitable for those in the online space looking to benefit from their promotional efforts.
4. Open Account Bonuses: IUX also extends a warm welcome to new clients with a $30 bonus, which is automatically credited to their trading accounts. The best part is that any profits earned from this bonus can be withdrawn. However, it's important to note that this bonus itself cannot be withdrawn; it's designed to enhance the trading experience. Additionally, the platform offers deposit bonuses of 35% and 25% for deposits up to $3,300.
5. Low Spread and Low Swap Fees: IUX ’ clients enjoy a low and competitive spread plus competitive trading costs through the MT5 platform. The broker uses a highly competitive pricing structure that combines both commission-free and commission-based options, offering great flexibility. Spreads can start as low as 0.0 to 0.5 pips, depending on the type of Account, while for commission-based trading, the fee is set at $7.00 per round lot. The broker also offers swap-free trading options and low swap fees in general.
Introduction
IUX, managed by IUX Limited, is a licensed international CFD trading broker. It started in 2016 as an online CFD trading service provider. The platform emphasizes the importance of its clients' trading experience and is dedicated to enhancing its technology and customized services.
IUX boasts of offering low spreads, beginning at 0.0 pips, with no requotes and competitive rates. The broker brands itself as a preferred online CFD provider for scalpers, automated systems, and high-volume traders. The IUX Markets website highlights its core values, emphasizing a supportive environment for traders and providing them with essential tools for a top-notch trading journey.
IUX is known for its cost-effective trading, quick execution, ample liquidity, and generous maximum leverage. These factors come together to create a highly competitive trading atmosphere. In this detailed IUX review, we'll explore important aspects, such as regulatory compliance, available platforms and tools, educational resources, market coverage, account options, and funding methods.
Supported Countries
IUX is a worldwide forex broker platform designed to serve clients from various parts of the globe. It's open to traders from Brazil, Canada, Chile, Colombia, Ecuador, Ghana, India, Indonesia, Japan, Kenya, Laos, Malaysia, Mexico, Myanmar, Nigeria, Peru, Philippines, Singapore, Thailand, and Vietnam.
However, despite its claim of global availability, it's essential to note that its services are limited to specific countries scattered across different continents. Notably, IUX does not accommodate clients from Australia, Belgium, France, Iran, North Korea, Japan, and the United States.
Customer Service Rating
IUX has garnered 322 Trustpilot reviews, achieving an 'Excellent' TrustScore of 4.6 out of 5 stars. Reviewers commend IUX for its advanced trading platforms and swift order execution, allowing traders to operate like professionals. They also appreciate the fast customer support and competitive spreads offered by the platform. Some users are particularly satisfied with the prompt services.
On the flip side, there are negative reviews as well. A common concern revolves around withdrawal issues, with many reviewers stating that they faced multiple declined withdrawal attempts. Other complaints mention IUX rejecting KYC verifications without providing valid reasons.
IUX Trading Platforms
IUX offers its clients the choice between two trading platforms: MetaTrader 5 (MT5) and their proprietary WebTrader5 platform.
MetaTrader 5 (MT5): IUX provides the advanced MetaTrader 5 (MT5) platform, an improved version of MT4 with additional trading tools and indicators. MT5 is considered the next generation of online trading, offering expanded options for trading various assets. It allows IUX clients to trade a wider range of CFD instruments, including currency pairs, stocks, commodities, indices, and cryptocurrencies, all within a customizable platform. MetaTrader 5 provides features for adjusting trading styles, advanced charting, and analysis tools. It also supports automated trading through Expert Advisors and offers a powerful development environment known as MQL5.
WebTrader5: IUX' WebTrader5 is a web-based solution that's easy to use and requires no installation. It can be accessed through any browser or device. This platform is designed with simplicity, reliability, and performance in mind, catering to a growing client base. It includes a Trends Analysis tool that provides insights into market trends, future price projections, and optimal stop-loss and take-profit levels. The WebTrader5 is accessible from any browser, offering quick and efficient account access on various devices. It incorporates analytical tools such as indicators and an intuitive order window. The platform is available in multiple languages to accommodate traders from around the world.
Type of Trading Accounts on IUX
IUX provides a range of account types, allowing clients to choose the one that best suits their trading preferences. These account options include:
Standard Account: The Standard Account at IUX is tailored for day traders, short-term traders, and expert traders. It offers the lowest spreads, with an average EUR/USD spread of just 0.2 PIPs and no commission. This Account provides deep liquidity and fast execution, making it suitable for traders seeking low-spread pricing and fast order execution. Traders can enjoy variable leverage of up to 1:3000, and the minimum deposit requirement is $10. Islamic Accounts are also available for day traders.
Standard+ Account: IUX' Standard+ Account stands out for its speed of execution. It offers a competitive spread starting from 0.5 PIPs and access to Equinix LD4 data center in London, along with up to 25 pricing providers. Traders can benefit from a bonus deposit of up to 35% and commission-free trading. This account type offers leverage of 1:1000 and deep liquidity, with a minimum deposit requirement of $10. Islamic Accounts are available for day traders.
Raw Account: The Raw Account at IUX is another option for traders seeking speedy execution. It provides access to over 90 instruments and comes with a commission of $3.5 per lot per side. The maximum available leverage is up to 1:3000, and the spread for the Raw account can be as low as 0.0 PIPs. To open a Raw Account, a minimum deposit of $500 is required, and Islamic Accounts are also suitable for day traders.
Pro Account: For experienced and professional traders, the Pro Account from IUX is a solid choice. This account type offers raw spreads or even spread-free options starting from 0.1 PIPs. It excels in executing orders quickly, making it suitable for scalpers, day traders, and algorithmic traders. With over 90 tradable instruments, this Account has a commission of $0 and leverage of 1:3000. The minimum deposit requirement for a Pro Account is $500, and Islamic Accounts are available for day traders.
Trading Denominations on IUX
IUX offers a range of choices to its clients when it comes to selecting the base currency for their trading accounts. Traders on IUX have the flexibility to open accounts denominated in various currencies, including USD, EUR, GBP, SGD, NZD, CHF, HKD. This diverse selection of base currencies caters to the varied preferences of clients, ensuring they can trade with the currency that aligns best with their trading strategies and needs.
Company Structure
IUX, managed by IUX Markets Limited, is a licensed broker specializing in international CFD trading securities. The company commenced its operations in 2016. IUX Markets operates its MetaTrader5 servers within the Equinix LD4 Data Center in London, aiming to reduce unnecessary latency and improve the trading experience. The forex broker prides itself on offering competitive trading costs through the MT5 platform and promoting swap-free trading options. Over time, IUX Markets has established itself as a prominent algorithmic Forex broker.
To cater to a global audience, the IUX website is available in multiple languages. Despite being in the industry for several years, it's worth noting that IUX does not display any awards or recognitions on its site. This may raise concerns among potential clients who often rely on such accolades to assess the trustworthiness and credibility of Forex trading platforms.
IUX Licenses and Regulatory Compliance
IUX is a worldwide forex broker platform that operates under the regulations of various jurisdictions:
IUX Markets Limited falls under the oversight of the Financial Services Authority in Saint Vincent and the Grenadines, with the registered number 26183 BC 2021.
IUX Markets Limited regulated by Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 53103, registered in 1st Floor Cnr Kildare Road and MA, Newlands, Cape Town, Western Cape, 7550.
Additionally, its parent company, IUX Markets Limited, has received authorization from the MWALI International Services Authority in Comoros, holding license number T2023172.
This dual regulation ensures that IUX complies with the required standards in different regions, providing a secure trading environment for its clients.
IUX Customer Protection
IUX, operating under multiple jurisdictions, is subject to stringent industry regulations to ensure compliance. However, it's noteworthy that the broker's website does not appear to include a customer protection policy.
To adhere to regulatory requirements, IUX follows the Anti-Terrorism Financing and Reduction of International Money Laundering Laws. Consequently, the broker necessitates clients to provide specific documents, including proof of identification, like a passport or driver's license, as well as proof of residency, such as a utility or phone bill. Additionally, IUX Markets employs OTP/SMS verification for deposits and client account access.
To safeguard these funds, they are stored in a Segregated Client Trust Account, ensuring a clear separation from the company's operational finances. This measure adds an extra layer of protection to clients' investments. When it comes to electronic payments, IUX employs SSL (Secure Socket Layer) technology, which encrypts the data during transmission. This encryption ensures that payment information remains confidential and secure.
One area where clarity is lacking pertains to the broker's membership in any insurance policy. It is uncertain whether IUX Markets provides negative balance protection for its clients. These aspects remain undisclosed.
Customer Service
IUX assures its clients of round-the-clock customer support. It offers multiple avenues for users to get in touch with their support team. One option is through email at [email protected]. For those seeking immediate assistance, there's a direct phone line available with the number +35725567778.
The IUX website also features a live chat function that enables clients to ask questions and make inquiries in real time. Traders can access a comprehensive FAQ page provided by the broker, offering quick answers to common queries.
Trading Information
IUX Markets presents traders with a highly competitive pricing structure that combines both commission-free and commission-based options, offering great flexibility. The platform does not impose any inactivity fees, making it an attractive choice for traders. For those opting for commission-based trading, the fee is set at $7.00 per round lot, while spreads can start as low as 0.0 to 0.5 pips, depending on the type of Account. An interesting feature of IUX is that all traders have the opportunity to qualify for swap-free trading, not limited to just Islamic accounts. This allows traders to engage in trading without incurring interest charges.
It's important to note that IUX does not provide information about its specific trading hours on its website. Traders might need to reach out to their support for details on the platform's trading times.
Tradable Instruments
IUX caters to retail traders by offering a decent range of over 250 trading instruments. This diverse selection of assets provides ample opportunities for traders looking to diversify their portfolios or explore various markets.
Among the available assets, you'll find options that encompass:
Forex Pairs
CFDs
Futures
Indices
Shares (Stocks)
Metals
Energies
This array of options is designed to meet the needs of both retail traders and those engaged in high-frequency trading and scalping. The platform's liquidity-focused approach ensures that traders have access to a wide variety of markets and trading opportunities, making it a suitable choice for traders with different strategies and preferences.
IUX Markets Leverage
IUX Markets provides traders with a maximum leverage of up to 1:3000, which offers significant flexibility in managing their positions and trading strategies. It's important to note that the leverage available can vary based on several factors, including the type of trading account, the specific financial instruments being traded, and the time of the trading activity.
Deposits and Withdrawals
Deposits
IUX adopts a fee-friendly approach, refraining from charging internal deposit or withdrawal fees. However, it's worth noting that external charges from third-party service providers might come into play.
To facilitate deposits, IUX offers traders a variety of payment options, including Credit and Debit cards, Skrill, Neteller, Local e-wallets, and Bank Transfers. The speed of deposit processing ranges from nearly instant to around 20 minutes, depending on the chosen payment method, except for bank wire transfers. It's important to highlight that IUX Markets does not accept payments from third parties.
For expedited processing, IUX recommends depositing funds from the Secure Client Area, where the balance is credited in real-time. Additionally, it's essential to ensure that all deposits originate from a bank account under the trading account holder's name.
Withdrawals
IUX Markets has specific guidelines in place for withdrawal requests to ensure a smooth process for its clients. Withdrawals follow a similar procedure, with IUX indicating that most withdrawal requests are typically processed within a swift timeframe.
The cutoff time for withdrawal requests is set at midnight AEST/AEDT. For clients opting for International Bank Wire Transfers, it's important to note that the banking institution may charge a processing fee. Credit/Debit Card withdrawals are processed free of charge, though it's good to be aware that these withdrawals may take approximately 3-5 business days to reach your credit card.
If you're considering withdrawing your funds via Paypal, Neteller, or Skrill, the process requires that the withdrawal be made from the same Account from which the initial funds were sent. In the case of withdrawals to a Thai bank account, specifically, if you've deposited funds via Thai Internet Banking, you'll need to provide a clear picture or colored scan copy of your Book bank.
IUX Markets Trading Education and Training
While IUX aims to be inclusive for traders of all levels, it's important to note that the platform currently lacks educational resources tailored specifically for beginners. This could potentially leave novice traders seeking additional guidance to kickstart their trading journey.
In terms of research tools, IUX relies on third-party resources, primarily from TradingView. This partnership allows traders to access a wide array of tools and data for conducting comprehensive market research. TradingView provides market quotes and analysis that can be invaluable for informed decision-making in the world of trading.
To assist traders further, IUX does offer a CFDs Trading Calculator. This tool comes in handy for calculating the current PIP values of the various assets available in your chosen account type.
FAQs
Is IUX Markets a Scam?
IUX holds a regulatory license and operates within the framework of financial regulations. IUX Markets Limited, the company behind the platform, is supervised by the FSA in Saint Vincent and the Grenadines, with the registered number 26183 BC 2021. Additionally, the broker is authorized by the MWALI International Services Authority in Comoros, holding license number T2023172. IUX has also obtained a license of FSCA South Africa Type FSP Financial Services Provider with License number 53103 under The Trading Machine (Pty) Ltd.
The broker has received reviews on Trustpilot, maintaining an 'Excellent' TrustScore of 4.6 out of 5 stars. However, it's important to note that there are also negative reviews that mention withdrawal issues and concerns related to account verification.
How do I open an IUX Markets trading account?
Opening a trading account with IUX is a straightforward process, and this blog post section outlines the steps to get started.
Begin by visiting the official IUX website. You can easily find it through an online search.
On the website, you'll typically find an 'Open Account' button. Click on this button to initiate the account opening process.
Select your country of residence from the list displayed.
You will be asked to provide personal information, including your name, email address, and contact details.
Carefully go through the terms and agreements, then check the box in front of it.
Click on the Submit button to finalize the process.
As part of the regulatory requirements, you will need to verify your identity. This usually involves submitting identification documents, such as a passport or driver's license, as well as proof of residence, like a utility bill.
After your identity is verified, you can fund your trading account. IUX provides multiple payment options, such as credit/debit cards, e-wallets, and bank transfers. Choose the method that works best for you.
Conclusion
In conclusion, this IUX FX broker review sheds light on several critical aspects of the platform. IUX offers a range of trading platforms, including the popular MetaTrader 5, which provides advanced tools and indicators for comprehensive market analysis. Additionally, they offer a user-friendly WebTrader5 for convenient web-based trading.
Account diversity is a strong suit of IUX, with options like the Standard, Standard+, Raw, and Pro accounts. IUX provides substantial leverage, reaching up to 1:3000, although this may vary depending on the account type, trading instrument, and time. The broker offers services to a wide array of countries globally. Still, certain regions, including Australia, Belgium, France, Iran, North Korea, Japan, and the United States, are restricted from trading on the platform.
Clients have the flexibility to denominate their accounts in various currencies, such as USD, AUD, EUR, and more. Deposit and withdrawal processes are straightforward, with options like credit/debit cards, e-wallets, and bank transfers. IUX is regulated, holding licenses with the Financial Services Authority in Saint Vincent and the Grenadines, the MWALI International Services Authority in Comoros, and the Financial Sector Conduct Authority (FSCA) in South Africa.
Client funds are held in Segregated Client Trust Accounts, and payment information is securely processed using SSL technology. IUX offers a wide range of trading instruments, including forex pairs, CFDs, futures, indices, shares, metals, and energies. However, it lacks educational resources for beginners. The broker sources third-party research from TradingView, enhancing research capabilities for traders.
The customer service team at IUX is available 24/7, offering various contact options, including email, phone, and live chat. IUX TrustScore on Trustpilot is 'Excellent,' indicating a positive track record with users, although some negative reviews highlight withdrawal-related concerns.
