Established in 2016, IUX is a derivatives broker headquartered in Cyprus and also registered in the Comoros Islands, South Africa, and Mauritius.
IUX provides a proprietary web trader platform enhanced by the seamless integration with TradingView alongside a mobile app. It also incorporates the widely-used MetaTrader 5.
The broker offers a range of diverse and accessible account types, competitive trading fees, and a quick average execution speed of 62 milliseconds. It also provides comprehensive research and educational materials.
Due to its competitive pricing structure, I concluded that IUX is well-suited for experienced day and swing traders, accommodating both short-term and long-term trading strategies.
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IUX achieves relatively fast execution speeds, catering to the needs of high-precision traders. I recorded an average execution speed of around 62 milliseconds. Though not the absolute best, this performance is impressive, given IUX’s low deposit requirements and competitive fees.
I assessed that IUX is a good choice for day traders due to its zero commissions and generally low floating spreads. Its low swaps also suit the needs of swing traders who tend to execute positions that last longer than a day.
I performed my tests on a Standard trading account using the desktop and mobile app versions of MetaTrader 5. The account was opened with the broker’s IUX Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with.
☑️ Regulations | FSCM (Mauritius), FSCA (South Africa), ASIC (Australia), MISA (Comoros) |
🗺 Supported Languages | English |
💰 Products | Currencies, Stocks, Crypto, Indices, Commodities |
💵 Min Deposit | $10 |
💹 Max Leverage | 1:400 (FSCM), 1:400 (FSCA), 1:30 (ASIC), 1:3000 (MISA) |
🖥 Trading Desk Type | STP, Market Maker |
📊 Trading Platforms | MT5, Proprietary |
💳 Deposit Options | Cryptocurrencies, Skrill, Neteller, Credit Card, Debit Card, Local Banks |
💳 Withdrawal Options | Credit Card, Debit Card, Cryptocurrencies, Local Banks, Neteller, Skrill |
🤴 Demo Account | Yes |
🗓 Foundation Year | 2016 |
🌎 Headquarters Country | Cyprus |
IUX operates four entities, regulated in South Africa, Mauritius, Australia, and the Comoros. The broker guarantees some essential safety requirements, such as negative balance protection. However, there is no compensation scheme in place. Additionally, the maximum retail leverage is not capped.
Entity Features | IUX Markets Ltd | IUX ZA (Pty) Ltd | IUX Markets (MU) LTD | IUX Markets AU Pty Ltd |
Country/Region | Cyprus, Limassol; Mwali, Comoros | South Africa, Cape Town | Mauritius, Port Louis | Australia, Sydney |
Regulation | ISA | FSCA | FSC MU | ASIC |
Tier | 3 | 2 | 3 | 1 |
Segregated Funds | Yes | Yes | Yes | Yes |
Negative Balance Protection | Yes | Yes | No | Yes |
Compensation Scheme | No | No | No | No |
Maximum Leverage | 1:3000 | 1:400 | 1:400 | 1:30 |
In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.
This is what I discovered about the two entities operating under the IUX trade name:
Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.
Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.
Here is what you need to be looking for in a broker in terms of safety mechanisms:
In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided.
IUX is still a relative newcomer to the trading industry, which means it is still building up its operations. Nevertheless, I did not see any major discrepancies with its services.
I reviewed IUX’s client agreement and other legal documents and assessed that everything was in order. The only minor issue I had was with the broker’s swap-free trading conditions.
When you create a new trading account, it is automatically set up for swap-free trading. The broker points out that this is only true for day trading, which is correct (by definition, overnight charges are only applied to trades that last longer than a single day). However, the broker should have done more to explain – especially to less experienced traders – how this changes for positions held open multiple days.
I determined that IUX is reasonably safe to trade with due to the following factors:
IUX offers competitive pricing that is better than the industry average. It supports commission-free trading on most retail accounts. Its floating spreads begin at 0.8 pips, outperforming the industry norm. The broker also provides swap-free trading via Islamic accounts. Additionally, there are no fees for deposits, withdrawals, or account inactivity.
I tested IUX’ spreads on 25 March 2024 during the London and the New York open. The results are shown in the table below:
Instrument | Live Spread AM | Live Spread PM | Industry Average |
EURUSD | 0.8 pips | 0.9 pips | 1.08 pips |
GBPJPY | 2.2 pips | 1.9 pips | 2.44 pips |
Gold (XAUUSD) | 18 pips | 18 pips | 42 pips |
Crude Oil | 0.02 pips | 0.03 pips | 0.03 pips |
Apple | NA | 0.08 points | 0.33 points |
Tesla | NA | 0.14 points | 0.50 points |
Dow Jones 30 | 6.2 basis points | 6.0 basis points | 3.3 basis points |
Germany 40 | NA | NA | 2.4 basis points |
Bitcoin | $35.88 | $35.13 | $35.5 |
Broken down by asset class and compared to the industry average, IUX charges low spreads on commodities and share CFDs, low-to-average spreads on forex pairs, average spreads on cryptocurrencies, and high spreads on indices.
A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.
The values listed below are for one full base currency contract (100,000 units).
Instrument | Live Spread AM | Live Spread PM |
EURUSD | Charge of $5.5 | $0 |
GBPJPY | $0 | Charge of $27.3 |
My tests indicate that the broker charges low-to-average swaps compared to the broader industry. This combination is good for the purposes of longer-term trading. I assessed that the broker’s overnight charges are suitable for swing trading and position trading.
The broker does not charge a handling fee for deposits or withdrawals, though third-party fees may apply. Furthermore, dormant accounts are not charged with an inactivity fee. The only potential consequence of inactivity could be that the trading account gets archived (following 30 calendar days of inactivity).
I have compiled the table below to help you better understand the difference between the trading fees of IUX’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.
The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10 for each account.
To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission
Account Type* | Min. Deposit Requirement | Spread | Commission** | Net Cost |
Standard | $10 | 0.8 pips | $0 | $8 |
Standard+ | $10 | 1.1 pips | $0 | $11 |
Raw | $500 | 0.1 pips | $6 | $7 |
Pro | $500 | 0.6 pips | $0 | $6 |
Typical STP | NA | 1.2 pips | $0 | $12 |
Typical ECN | NA | 0.2 pips | $6 | $8 |
*The numbers in this chart are only illustrative and subject to change over time
**Round-turn commission
My findings show that IUX’s trading fees are lower than the industry average for most account types. Another advantage is that the broker has quite low minimum deposit requirements. Its services are thus geared towards high-frequency trading and high-volume trading.
IUX’s fees are competitive across the board. I appreciated the fact that the broker does not charge non-trading fees. Furthermore, its trading fees (spreads, commissions, and swaps) are also quite low. The combination of commission-free trading, low floating spreads, and swap-free trading accommodates the needs of high-frequency and longer-term traders alike.
IUX has developed a proprietary platform powered by TradingView, which is known for its fluid and highly detailed charting capabilities. The broker also offers MetaTrader 5, which is popular among retail traders. For trading on the go, clients can choose between the IUX App Trade and the MT5 trading app.
Platform/Tool | Suitable For |
MetaTrader 5 | Simple order execution, automated trading |
IUX Markets | Advanced technical analysis, beginner-friendly |
TradingView Charts | Advanced technical analysis |
In this review, I tested the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways.
MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions.
Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go.
MT5’s layout is pretty straightforward. Account info is displayed at the bottom of the screen; charts occupy the middle portion of the window; a watch list of selected instruments and tools screen is positioned on the left side of the window; and a panel with various settings and configurations can be found at the top of the window.
I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down.
As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators. This obscures price action behavior and makes it more difficult to conduct probing technical analysis.
I have broken down the available analytical tools and chart configurations below:
I have broken down the available order types on the MetaTrader 5 platform below:
In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective.
IUX’s web trader platform is sleek and beginner-friendly because of its clean and straightforward design. Ìts charts are fluid and quite detailed, made possible by the fact that they are powered by the seamless Trading View, arguably the best charting tool in the industry.
The platform is stripped down of any secondary features, which makes it very easy to navigate, and even beginners can make their way around it. Placing and canceling orders is fast and easy. The platform supports one-click and two-clicks trading regimes of trading.
But above all else, I appreciated the high detail of the IUX platform’s charts. Price action is easy to discern and scale up or down, which affords chart artists the freedom to study a wide variety of trading setups.
IUX’s proprietary platform is available to fully verified accounts.
The mobile app version of MT5 affords quick and easy access to the market on the go. It is very useful for opening, terminating, and adjusting open positions.
The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of MT5.
You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.
MT5’s mobile app suffers from the same underlying problem inherent to other mobile apps. Analyzing price action behavior on low-resolution devices is extremely difficult. That is why I recommend using the mobile app only to monitor the development of your open positions and make changes if needed.
IUX offers 120+ tradable instruments across some of the biggest markets, including forex, commodities, share CFDs, indices, and cryptocurrencies. The instruments are structured as CFDs and can be traded on the spot market.
Markets | Industry Average | Types | Contract Types |
34 Currency Pairs | 30 – 75 | Majors and Minors | Spot |
6 Commodities | 5 – 10 | Metals and Energies | Spot |
55 Share CFDs | 100 – 500 | US | CFD |
11 Indices | 5 – 10 | US, Europe, Asia | CFD |
16 Cryptocurrencies | 10 – 20 | Majors and Minors | Spot |
Compared to the industry average, IUX offers a low amount of share CFDs, an average amount of currency pairs, commodities, and cryptocurrencies, and a high number of indices.
Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.
For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.
One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.
Forex | Commodities |
EURUSD | GBPJPY | CADUSD | EURCHF | USDJPY | AUDCAD | Gold | Crude Oil | Silver | Brent Oil |
Share CFDs | Indices |
Apple | Tesla | Microsoft | Alibaba | Citigroup | IBM | Netflix | VISA | Germany 30 | Dow Jones 30 | France 40 | Japan 225 | Hong Kong 50 | Australia 200 |
Cryptocurrencies |
Bitcoin | Litecoin | Ripple | Ethereum | Cardano | DogeCoin |
IUX offers a decent amount of higher-yield/risk assets, such as stocks and cryptocurrencies, that can be used for speculative trading. However, the broker does not provide any lower-risk securities, such as ETFs and bonds. This lack of diversity makes it more difficult for traders to diversify their market exposure and lessen their trading risk.
IUX offers fast, 24/5 customer support via live chat. Help is available in 8 languages, including English, Malay, Indonesian, Hindu, and more. Agents typically respond within minutes and seem to have a basic level of knowledge. I also found them polite and with a good command of the English language.
When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.
I conducted my customer support test on 25 March at around 15:17 CET via live chat. I raised several questions pertaining to IUX’s fees, execution model, and account configurations.
I greatly appreciated the instantaneous connection with an agent. The first thing she did was introduce herself, a gesture that set a welcoming tone for the conversation. Moreover, the agent demonstrated a thorough understanding of how to locate relevant information on the website.
Despite the agent initially struggling to grasp what I meant by ‘an account-based currency’ and ‘inactivity fee,’ overall, I assess IUX’s customer support as suitable for straightforward questions.
IUX offers an impressive amount of payment methods, including credit and debit cards, e-wallets, and cryptocurrencies. The broker does not charge handling fees for deposits or withdrawals, though third-party banking fees may apply. Processing times are quite quick, but transaction times may differ depending on the selected payment method.
Payment Method | Currency | Minimum Deposit | Fee | Processing Time |
Credit/Debit Card | THB | 360 THB | $0 | 3-15 Minutes |
Vietcombank | VND | $10 | $0 | 3-15 Minutes |
Sacombank | VND | $10 | $0 | 3-15 Minutes |
Technombank | VND | $10 | $0 | 3-15 Minutes |
Donga Bank | VND | $10 | $0 | 3-15 Minutes |
ACB | VND | $10 | $0 | 3-15 Minutes |
SCB | THB | $10 | $0 | Immediately |
Krungsri | THB | $10 | $0 | Immediately |
Bangkok Bank | THB | $10 | $0 | Immediately |
Bitcoin | BTC | $10 | $0 | Immediately |
Skrill | BTC | $10 | $0 | 5-20 Minutes |
Neteller | BTC | $10 | $0 | 5-20 Minutes |
DogeCoin | DOGE | $10 | $0 | 3-15 Minutes |
Ethereum | ETH | 0.00073 ETH | $0 | 3-15 Minutes |
Litecoin | LTC | 0.015 LTC | $0 | 3-15 Minutes |
Payment Method | Currency | Minimum Deposit | Fee | Processing Time |
Credit/Debit Card | THB | 101 THB | $0 | 3-15 Minutes |
Vietcombank | VND | $3 | $0 | 3-15 Minutes |
Sacombank | VND | $3 | $0 | 3-15 Minutes |
Technombank | VND | $3 | $0 | 3-15 Minutes |
Donga Bank | VND | $3 | $0 | 3-15 Minutes |
ACB | VND | $3 | $0 | 3-15 Minutes |
SCB | THB | $3 | $0 | Immediately |
Krungsri | THB | $3 | $0 | Immediately |
Bangkok Bank | THB | $3 | $0 | Immediately |
Bitcoin | BTC | $3 | $0 | Immediately |
Skrill | BTC | $3 | $0 | 5-20 Minutes |
Neteller | BTC | $3 | $0 | 5-20 Minutes |
DogeCoin | DOGE | $3 | $0 | 3-15 Minutes |
Ethereum | ETH | 0.00073 ETH | $0 | 3-15 Minutes |
Litecoin | LTC | 0.015 LTC | $0 | 3-15 Minutes |
To create an account with IUX, follow these simple steps:
Account Type | Standard | Standard+ | Raw | Pro |
Spread From* | 0.2 pips | 0.5 pips | 0.0 pips | 0.1 pips |
Commission** | $0 | $0 | $6 | $0 |
Minimum Deposit Requirement | $10 | $10 | $500 | $500 |
Maximum Leverage | 1:3000 | 1:1000 | 1:3000 | 1:3000 |
Margin Call | 0% | 35% | 0% | 0% |
Stop-Out Level | 30% | 50% | 30% | 30% |
Islamic Account | Yes | Yes | Yes | Yes |
Demo Account | Yes | Yes | Yes | Yes |
*Please note that there is a difference between the spread rates stated on the website and their actual values
**Round-turn, per traded lot (100,000 units)
While it is true that IUX’s accounts have generally low trading fees, I would like to point out the associated risks on two of those – the Standard and Standard+ accounts. The former allows a fairly large maximum retail leverage (1:3000), while the latter caps it at 1:1000, which is still pretty high.
The other difference is that the Standard account has pretty lax safety nets (margin call at 0% and stop-out at 30%). This means that unless traders exercise caution, they risk losing a significant portion of their accounts before the system starts to close their positions automatically.
The same applies to the Standard+ account, though to a lesser degree. Fundamentally, it is the trader’s responsibility to make sure his or her positions are managed carefully.
IUX offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.
The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact IUX’s customer support and request the service from there.
The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
IUX does not accept clients from the following countries: Iran, North Korea, Syria, Cuba, Venezuela, and Russia.
IUX provides high-quality research content that is mainly developed in-house. The broker offers a blend of market breakdowns and deeper analyses, which are available from its website and YouTube channel. Additionally, IUX provides a number of tools, such as an economic calendar, to help traders prepare for upcoming events.
Traders can take advantage of the built-in economic calendar, an essential tool that keeps them informed of upcoming market events and releases that may influence price action, potentially creating valuable trading opportunities.
IUX also includes several market sentiment tools from TradingView, which help traders assess shifting buying and selling dynamics. I found the Heat Map tool particularly useful, as it displays changes in buying pressure across different time frames. This feature allows both contrarian traders and trend followers to identify potential trading opportunities suited to their preferred style.
IUX’s educational content consists of a few dozen written articles and YouTube videos, as well as two trading courses. These present novices with a solid background in the ABCs of trading and investing, though no attention is paid to more complex trading topics.
IUX covers basic trading concepts, such as ‘what is a pip,’ ‘what is the role of forex brokers,’ ‘how to use stop-loss orders,’ and the like. Users can also find some articles about stories of success and strategies of famous investors and market experts.
Another prominent educational section of the website is the ‘Academy’, containing two courses on investing. They comprise 15 individual lessons and trace the basics of value investing.
While I appreciated the diversity of content, I would have liked it if the broker had paid more attention to more complex topics such as trading psychology, risk management, etc.
IUX is an up-and-coming derivatives broker that offers below-average trading fees and the popular MetaTrader 5 platform. It also distinguishes itself with relatively fast order execution speeds, which I clocked at around 62 milliseconds.
Additionally, I found that IUX’s low overnight charges make it suitable for longer-term trading strategies, particularly for swing and position traders.
Founded in 2016 and headquartered in Cyprus, IUX operates under four entities authorized by the ISA in MWALI, the FSCA in South Africa, the FSC in Mauritius, and ASIC in Australia. The broker ensures the implementation of most essential safety mechanisms, though its margin call and stop-out policies appear to be somewhat lax.
IUX has developed a beginner-friendly web trader platform featuring fluid charts powered by TradingView and a proprietary app available to verified clients.
The broker provides several highly practical market sentiment tools that can be used to identify viable trading opportunities. However, it lacks educational materials, which makes IUX not the best choice for beginners.
Headquarters Country | Cyprus |
Foundation Year | 2016 |
Regulations | FSCM (Mauritius), FSCA (South Africa), ASIC (Australia), MISA (Comoros) |
Publicly Traded | No |
Number Of Employees | 200 |
Trading Desk Type | STP, Market Maker |
Trading Platforms | MT5, Proprietary |
Restricted Countries | Iran, North Korea, Syria, Cuba, Slovenia, Russian Federation, Australia, Belgium, France, Japan, United States |
Supported Languages | English |
Min Deposit | $10 |
Max Leverage | 1:400 (FSCM), 1:400 (FSCA), 1:30 (ASIC), 1:3000 (MISA) |
Deposit Options | Cryptocurrencies, Skrill, Neteller, Credit Card, Debit Card, Local Banks |
Withdrawal Options | Credit Card, Debit Card, Cryptocurrencies, Local Banks, Neteller, Skrill |
Time to Withdrawal | 1 |
Time to Open an Account | 1 |
Crypto | Ethereum, Bitcoin, Litecoin, Bitcoin Cash, Cardano, Basic Attention Token, Polkadot, Binance Coin, Tezos, Uniswap, Solana, Avalanche |
Products | Currencies, Stocks, Crypto, Indices, Commodities |
Demo Account | Yes |
OCO Orders | No |
Offers Hedging | No |
Automated Trading | Yes |
API Trading | No |
Guaranteed Stop Loss | No |
Guaranteed Limit Orders | No |
Guaranteed Fills / Liquidity | No |
Economic calendar | Yes |
Trading From Chart | Yes |
One-Click Trading | Yes |
Expert Advisor | Yes |
Social Trading | Yes |
Autochartist | No |
Trading Signals | No |
Platform Languages | English |
24 Hours Support | Yes |
Support During Weekends | No |
Live Chat | Yes |
Daily Market Commentary | No |
News (Top-Tier Sources) | Yes |
Webinars | No |
Deposit Fee | No |
Withdrawal Fee | No |
Inactivity Fee | No |
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
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