A Comprehensive IUX Review

IUX Markets LTD is a broker that is regulated offshore and mainly offers CFDs trading, which are very risky derivatives enhancing the potential for both losses and winners. The broker has some experience and offers many trading accounts coupled with an advanced MT5 platform and diverse trading assets.

The broker offers up to 1:3000 leverage and a 10 USD minimum deposit, which seems competitive on paper but too risky in real, practical trading.

In this IUX review, we will evaluate the broker’s safety, account types, fees and spreads, instruments, platforms, and more.

IUX Forex broker overview

IUX Markets is a regulated broker. However, it is overseen by the Financial Services Commission (FSC) in Mauritius. This license surely is better than being unregulated, but it still does not provide guaranteed safety as Mu FSC is not a strict regulator.

The broker is also registered in Saint Vincent and Grenadines and Cyprus but is not overseen by either of these jurisdictions.

The broker has some basic KYC and AML policies, but we could not find information on whether it offers negative balance protection to prevent its traders from losing more than their initial investment.

IUX Demo account

The broker offers a demo account version for all its live accounts. The IUX demo account enables traders to test the trading conditions of the broker and develop trading strategies, which is useful. Generally, demo accounts are essential for beginners to learn and practice trading.

IUX Standard Account

The standard trading account by IUX is the most attractive trading account type offered by the broker. This is because it has super low spreads on major FX pairs from 0.2 pips, and there are no commissions charged, which makes it one of the best accounts. However, since most of the standard accounts have at least 1 pip spread, we find this offering very suspicious. The minimum deposit is 10 USD, the minimum lot size starts at 0.01 lots, and the maximum leverage is 1:3000.

IUX Standard+ Account

The standard account also has a 10 USD minimum deposit requirement and charges no commissions. The spreads are from 0.5 pips on major pairs, which is slightly worse than the standard account but still very competitive. The minimum lot size starts at 0.01 lots, and the maximum leverage is up to 1:300 here as well. Swaps are charged.

IUX Raw Account

The raw account is IUX’s take on zero spreads ECN accounts. However, it is not as competitive as the standard account as it has spreads from pips but charges 6 USD round turn, which is around 0.3 pips, higher than the standard account’s 0.2 pips. This account has a minimum deposit requirement of 500 USD and a leverage of up to 1:1000, which is slightly worse than previous account types.

IUX Pro Account

The pro account also requires at least 500 USD in deposit, has no commissions, and offers low spreads from 0.1 pips. This account has 1:3000 leverage and a 0.01 lot minimum lot size. So, if a trader has 500 USD, this is even better than the standard account.

Overall, the broker does not offer very competitive choices when it comes to account types. The standard and pro accounts are by far the best account types, and there is no reason why someone would select other account types.

IUX Deposits and Withdrawals

IUX accepts several types of payments, like wire transfers and e-wallets. However, the broker does not support Visa or MasterCard, which is a serious downside. There is no support for cryptos either. There are no commissions charged for withdrawals, which is flexible. The deposits are instant, but withdrawals are lengthy and require 1-3 business days.

IUX instruments

When it comes to trading instruments, IUX Markets offers access to diverse markets. There are Forex pairs, commodities, indices, thematic indices, stocks, and even cryptos. Most of these instruments are CFDs, which are risky assets. The leverage is also very high, which is a double-edged sword and enhances the chances of both great winners and losers.

IUX Education, Platforms, Indicators, and Tools

The broker offers educational resources, including articles and an academy. Education is important for beginners, and IUX has some useful resources to read and learn. The broker does not provide any tools or indicators to assist its traders in increasing their trading accuracy, which is a considerable downside. The lack of tools is very disadvantageous for beginner traders who might want to use calculators and economic calendars for better results.

IUX platforms

The broker offers access to the advanced trading platform, Metatrader 5 (MT5). The broker allows traders to use custom indicators and Expert Advisors (EAs), which is useful. Mobile trading is available via the MT5 mobile apps for all mobile devices.

IUX Additional Features

The broker offers several promotions, including trade bonuses and deposit bonuses. Both of these bonuses are available only for new customers and allow traders to increase their deposit by up to 100%. However, only profits are withdrawable with these bonuses, and they are removed when withdrawing profits.

IUX Customer Support

The broker offers customer support via live chat and email channels. The lack of phone support is a major red flag, and typically, scams use this tactic. Hiding phone numbers is a very shady and unethical practice, which makes the broker’s safety once again very questionable.

Conclusion — Is IUX legit?

In the end, while IUX Markets offers competitive spreads, high leverage, and access to diverse markets using the MT5 platform, there are significant drawbacks. The broker is regulated offshore in Mauritius, which is not a strict regulator, leaving traders with less protection. The broker does not allow bank cards for payments, lacks negative balance protection, and does not offer tools to its traders. There is no phone support offered, which is a major red flag for the broker.