IUX Forex Review

Read our full IUX review to get exact details about their safety, accounts, spreads, platforms, assets, support, and much more. Our unbiased IUX opinion allows our readers to decide whether IUX is a reliable broker.

IUX Forex Broker History

IUX is a regulated Forex and CFDs broker. However, there are some serious issues with the broker as it tried to submit a multitude of fake positive reviews on the FPA, and there are many trader comments about the broker removing trader profits for no obvious reasons.

IUX was launched in 2016, giving it a decent amount of time to become a reliable and excellent broker, but it failed to achieve it.

The broker offers access to diverse asset classes such as Forex pairs, indices, commodities, stocks, thematic indices, and crypto CFDs. In fact, most of these assets are CFDs, which allow fast execution speeds, but CFDs are also very risky assets.

IUX broker safety

The broker is regulated. IUX Markets Ltd. is regulated by the Financial Services Commission (FSC) in Mauritius. It is registered in Cyprus, Saint Vincent, and the Grenadines. As we can see, the broker is regulated offshore and is only registered in two other jurisdictions, which does not make it very reliable as a broker. There are many comments and evaluations by traders where they claim the broker often removes profits without reason, which is a major red flag. The existence of fake positive reviews only adds to this list of red flags and makes the broker a very unreliable and risky company to do business with.

IUX Broker Review of Accounts

IUX Markets offers several trading account types, such as standard, standard+, Raw, and Pro account types. The broker divides its accounts between recommended and professional groups. In the recommended group, there are standard and standard plus accounts, while professionals can choose between Raw and Pro accounts. Let’s review each account type and define if they are attractive or just a marketing gimmick.

IUX Standard account

The standard account is for general FX trading and charges no commissions, but spreads are from 0.2 pips. 0.2 pips is very attractive, but we double the broker offers this low spread on the standard account. There are no commissions charged for this account, and the minimum deposit requirement is very low, starting from 10 dollars. The leverage is very high at 1:3000, which enables traders to open extremely large trading positions with very small amounts of money, which also increases the chances of blowing up an account in 1-2 trades. Traders can use a minimum of 0.01 lots, which is flexible.

IUX Standard+ account

The Standard+ account has a 10 USD minimum deposit requirement, which is also very competitive. Spreads start from 0.5 pips, and there are no commissions charged. There is no difference between this and a standard account except for spreads, which makes very little sense. Why would someone opt for the standard+ account when the standard account offers even lower spreads and all other conditions are the same? The minimum lot size is 0.01 lots as well. The leverage is up to 1:1000, which is lower than standard but still high.

IUX Raw account

The raw trading account has a minimum deposit requirement of 500 USD, which is higher than both standard accounts. It charges commissions and offers spreads from pips. The commission is 6 USD per lot, round-turn. It makes very little sense why someone would select this account if the standard has the same spreads (0.1 pips), but there are no commissions charged. Therefore, we assume both standard and standard plus accounts have high spreads in practice. The leverage is also up to 1:3000, which is extremely high.

IUX Pro account

The pro account is the ultimate trading account offered by the broker for professionals. However, it has similar conditions to the raw account and comes with commissions as well. The spreads are from 0.1 pips, which is higher than the raw account. The one distinctive advantage of this account seems to be its 0 USD commission offering, which, if true, is very competitive. A 0.1 pip spread for 0 commissions is very useful for scalpers. However, the broker offers exactly the same conditions on its standard account, and the minimum deposit is even lower.

As we can see, the broker offers the best conditions on its standard account, and there is no reason why someone would select any other account type over this account, which indicates that the broker is most likely hiding the real spreads of standard accounts or all other account types is just a marketing gimmick.

IUX instruments

The broker offers access to several asset categories, such as Forex pairs, commodities, indices, thematic indices stocks, and cryptos. The broker offers access to 6 thematic indices, including popular instruments of CRYPTO10, AIGUI, and others. From cryptos, traders can access all popular coins, and all of them are CFDs, meaning the execution is fast without delays. The leverage is very high, which makes it very risky for beginners to use this broker. There are also some other issues we have found with the broker’s safety, so the broker is not attractive. Stay away.

Overall, if the broker was reliable, its diverse assets would allow traders to speculate on a wide range of assets.

IUX Reviews of Trading Platforms

When it comes to trading platforms, IUX offers access to the advanced MT5 platform, which supports custom indicators and expert advisors (EAs). There is a mobile MT5 app for trading on the go. The broker does not offer a MetaTrader 4 platform, which is a big disadvantage as MT4 is super popular among FX traders.

IUX Deposit and Withdrawal

Deposits and withdrawals are crucial in FX trading. IUX accepts many different types of payments, but the broker does not support bank cards such as Visa and MasterCard, which is a downside. There are many e-wallets accepted, and most of them are not very widely adopted, which is very disadvantageous.

IUX Forex Review of Extra Features

The broker offers educational resources such as articles and an academy, where traders can read about main trading concepts. This is useful, and the broker also offers a deposit bonus for new customers. The broker has two bonuses: one is 25% with up to 3000 USD, and the other is 30% with up to 300 USD. However, these bonuses have super strict requirements, and traders should read their terms and conditions very carefully.

IUX Reviews of Customer Support

IUX Markets only offers email and live chat support options. There is no phone support available, which is a serious downside for the broker. Reliable brokers do not hide their phone numbers. When it comes to multilingual support, the broker only offers English language support, which is also a downside. International brokers usually offer multilingual support to allow trades across the globe access to trading services in their native language, which is not the case with IUX brokers.

IUX Review Conclusion – Can you trust IUX?

IUX Markets presents itself as a competitive Forex and CFDs broker with high leverage, low deposit requirements, and low spreads. However, the broker has negative reviews from traders, is regulated offshore, and does not offer phone support. The broker offers MT5 and access to diverse markets like FX, indices, commodities, cryptos, and more. Traders should be extremely cautious when dealing with brokers like this, as negative reviews co