Introduction
IUX is a CFD broker that has been in operation for more than 9 years now. The company has many standout features like the minimum deposit requirement set at just $30, oversight of multiple reputable regulators, MetaTrader 5 and the company’s proprietary platforms (IUX Trade App), and access to CFDs across 5 markets.
In addition, the company also offers very low spreads, a very high leverage, and advanced trading features like automated trading. The company offers 3 live trading accounts with different trading conditions and one demo account to test your strategies. The dedicated education hub and 24/7 support is also available.
The company says that they have achieved $1 Trillion trading volume per month. IUX is headquartered in Mauritius but also has a licences from FSCA (South Africa) and ASIC (Australia).
Supported Countries
Most brokers do not serve in all countries. It is mostly because of international and local jurisdictions. The same is the case with IUX, formerly IUX Markets. The company focuses on Latin American, African, and Asian countries.
The following are the regions where IUX does not accept clients from:
Afghanistan, Australia, Austria, Barbados, Belarus, Belgium, Burkina Faso, Bulgaria, Cameroon, Canada, Central African Republic, Croatia, Cuba, Cyprus, Czech Republic, Democratic Republic of the Congo, Denmark, Estonia, Finland, France, Germany, Greece, Haiti, Hungary, Iceland, Iran, Ireland, Italy, Japan, Latvia, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Mali, Malta, Mozambique, Myanmar (Burma), Netherlands, Nicaragua, North Korea, Norway, Poland, Portugal, Romania, Russia, Senegal, Slovakia, Slovenia, Spain, Sudan, Sweden, Syria, Tanzania, Ukraine, United Kingdom, United States of America, Venezuela, Yemen, Zimbabwe.
To make sure traders only see brokers you can trade with, our website is set up with geotargeting. Traders on our website will only be seeing brokers that operate in your country, unless you can look them up from the search bar.
Just to make sure that a broker is available in your country, we suggest clicking on that “Start Trading” button and filling out the registration form. If you can complete the process without trouble, the broker operates in your country. If not, you can try opening an account with another broker. This whole testing process takes less than 3 minutes.
Customer Reviews
IUX currently has great customer reviews on Trustpilot and TrustFinance. At the time of writing this broker review, IUX has a 4.3-star rating on Trustpilot and 4.87-star rating on TrustFinance. Besides learning from other people’s experience, you can create an account on IUX and use a demo account.
The trading platform is the main interface you interact with. The following aspects depend on your trading platform:
- Charting Tools
- Order Types and Risk Control
- Asset Access
- Execution Model
- Automated Trading Support
- Mobile and Web Access
IUX offers industry-leading MetaTrader 5 and the company’s own IUX WebTerminal and Mobile App as well.
MetaTrader 5 is a strong successor of MetaTrader 4 that offers more advanced charting tools and inbuilt features. The platform is accessible over Windows, Macs, Android, and iOS powered machines. Traders can even use MT5 straight from the browser. MT5 is especially popular among algorithmic traders because of its Expert Advisors (EAs).
IUX WebTerminal
IUX WebTerminal is a browser based trading app with many powerful features. It is integrated with TradingView. The platform offers 100+ technical indicators and 40+ drawing tools. However, this platform does not offer automated trading unlike MT5.
IUX Mobile App
Besides WebTerminal, you can also use the broker’s proprietary platform via smartphones. The company’s trading app is available on iOS and Android. The platform is integrated with TradingView and is very powerful. Besides the usual features, this app has safety features like biometric login built-in.
Leverage and Spreads
IUX offers a leverage of up to 1:3000, which is very high. High leverage allows traders to capture bigger positions against their investments. The upside is that profitable trades result in multiple times the return. The downside is that your losses can also be amplified. Therefore, it is important to calculate the risks and consider different variables when trading with such high leverage.
Spreads are the differences in buy and sell prices that a broker charges you. IUX has very tight spreads which means lower trading overhead for traders. IUX has some of the lowest spreads in the market starting at 0.0 to 0.2 depending on account type. Besides lowering the trading costs, low spreads allow traders to benefit from strategies like scalping.
Deposits and Withdrawals
Oftentimes, deposits and withdrawals can be a lot of hassle with some brokers. Traders should look for 3 things in this regard:
- Payment Options
- Processing Time
- Deposit/Withdrawal Fees
IUX shines in all 3 departments as the company offers 20+ local and international payment options. These methods include Visa, MasterCard, Wire Transfer, and multiple regional options.
The processing time for payments is super fast. According to the website, payments are processed in 2 to 10 minutes. Some brokers can take up to 2 weeks just to process payments.
Lastly, the company does not charge any deposit or withdrawal fees. You can withdraw funds as low as $5. However, your bank or payment method may have different fees involved.
Customer Service
24/7 customer service allows traders to reach the customer service no matter what timezone they are in. Traders can reach IUX customer support via live chat, email,. Traders can find a small chat icon on the company’s website for live chat. For email support, the contact details are [email protected]
The broker offers multilingual support in almost 7 languages, including English, Bahasa Indonesia, Spanish, Thai, Vietnamese, and others. Finding support in your preferred language can elevate the quality of customer service for traders who prefer support in their regional languages.
Education Hub
The educational material provided by IUX is one of the most detailed and complete among brokers we have recently reviewed on Topbrokers. The company has published 240 articles, 10 trading courses, economic calendar, trading calculator, and technical analysis sections on the website. Many brokers offer a very limited library for trader education but that’s not true for IUX.
The free training material and a demo account can make it very easy for new traders to learn new strategies and test them in real-time.
Company Details
IUX started its operations as IUX Markets but was later rebranded to IUX. The company is registered in Mauritius under license number GB22200605. The broker is headquartered in Mauritius and has multiple offices in different global locations in total. As a broker that has been actively offering services, IUX has built a solid reputation among traders.
Regulations
IUX’s multi-regulation framework gives the traders this confidence that they are trading with a legitimate entity. On the other hand, offshore regulation allows the broker to offer a high leverage.
IUX has the following licences:
- IUX Markets AU Pty Ltd is regulated by ASIC (Australian Securities and Investments Commission) Registration Number 529610
- IUX Markets ZA (PTY) Ltd is authorized by FSCA (Financial Sector Conduct Authority South Africa) Registration Number FSP 53103
- IUX MARKETS (MU) LTD is regulated by FSC (Financial Services Commission Mauritius) Registration Number GB22200605
Despite offering a really high leverage, the broker offers security features like segregated accounts, negative balance protection, and KYC and AML compliance.
In addition, IUX is a member of The Financial Commission, an independent external dispute resolution organization. This membership provides clients with additional protection through a compensation fund covering up to €20,000 for eligible complaints.
Conclusion
IUX stands out in many areas we consider a trader should consider before committing to a broker. The low barrier to entry, access to 330+ assets across 5 markets, swap-free account options, high leverage, low spreads, solid customer support, and access to powerful trading platforms.
The company offers very high leverage trading while offering great security options. In addition, the company allows automated trading strategies with low latency and super fast executions.
All things factored in, IUX is a great broker. The company has many features that make it worth trying. The barrier to entry is very low and there is also a demo account if you want to test the company.
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