IUX review

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 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.

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 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 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.
• Financial Sector Conduct Authority (FSCA) in South Africa regulates IUX 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 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 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 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.

IUX Leverage

IUX 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 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 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 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.

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.