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IUX Review 2024

By:
Plamen Stoyanov
Reviewed By:
Ola Alder
Updated: Nov 14, 2024
Overall Rating
4.3
  • Trust
    3.8
  • Fees
    4.5
  • Platforms and Tools
    4.3
  • Tradable Instruments
    3.7
  • Customer Support
    4.7
  • Research
    4.8
  • Deposit and Withdrawal
    5.0
  • Account Types and Terms
    4.6
  • Education
    2.6
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on IUX

    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.

    IUX Pros and Cons

    Pros Cons
    • Fast order execution
    • Below-average trading fees
    • Diverse accounts
    • Choice of payment methods
    • Narrow educational content
    • Modest instrument selection

    IUX Highlights for 2024

    • Competitive Prices: The broker offers commission-free trading and low floating spreads and swap fees. There are also no inactivity or deposit and withdrawal fees.
    • High Leverage: IUX’s ISA-regulated offshore entity provides up to 1:3000 leverage, with a 0% margin call and 30% stop-out level. This poses a significant risk for inexperienced traders unfamiliar with managing market exposure.
    • Comprehensive Research: The broker offers a blend of market breakdowns and analyses, as well as market sentiment tools from TradingView and other helpful content.
    • Fast Customer Support: IUX’s support agents respond quickly to new queries. Their answers are generally helpful.

    What Sets IUX Apart?

    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.

    Who is IUX For?

    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.

    IUX Video Review

    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.

    IUX Main Features

    ☑️ RegulationsFSCM (Mauritius), FSCA (South Africa), ASIC (Australia), MISA (Comoros)
    🗺 Supported Languages
    English
    💰 ProductsCurrencies, Stocks, Crypto, Indices, Commodities
    💵 Min Deposit$10
    💹 Max Leverage
    1:400 (FSCM), 1:400 (FSCA), 1:30 (ASIC), 1:3000 (MISA)
    🖥 Trading Desk TypeSTP, Market Maker
    📊 Trading PlatformsMT5, Proprietary
    💳 Deposit Options
    Cryptocurrencies, Skrill, Neteller, Credit Card, Debit Card, Local Banks
    💳 Withdrawal Options
    Credit Card, Debit Card, Cryptocurrencies, Local Banks, Neteller, Skrill
    🤴 Demo AccountYes
    🗓 Foundation Year2016
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    IUX Full Review

    Trust

    3.8
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    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

    IUX Regulations

    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:

    • IUX Markets Ltd is licensed and regulated by the Comoros International Services Authority (ISA) of MWALI under license number T2023172. We rate the ISA as a Tier 3 regulator.
    • IUX Markets ZA (Pty) Ltd is licensed and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 53103. We rate the FSCA as a Tier 2 regulator.
    • IUX Markets (MU) LTD is licensed and regulated by The Financial Services Commission (FSC) of Mauritius. We rate the FSC Mauritius as a Tier 3 regulator.
    • IUX Markets AU Pty is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 529610. We rate ASIC as a Tier 1 regulator.
    IUX Markets Ltd’s licensing info on mwaliregistrar.com
    IUX Markets Ltd’s licensing info on mwaliregistrar.com

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    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:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All IUX entities ensure segregated client funds.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Negative balance protection is available for three IUX entities, except for the Mauritius entity.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. IUX’s entities do not participate in any compensation schemes.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with IUX is 1:3000, which is available with the IUX Markets Ltd entity.

    Stability and Transparency

    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.

    IUX’s swap-free trading conditions
    IUX’s swap-free trading conditions

    Is IUX Safe to Trade With?

    I determined that IUX is reasonably safe to trade with due to the following factors:

    • Licenced by four regulators, including top-tier ASIC
    • Provides legal documents with abundant information and easy access
    • Ensures negative balance protection

    Fees

    4.5
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    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.

    IUX Trading Fees

    IUX Spreads

    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.

    IUX Swaps

    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.

    IUX Non-Trading Fees

    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).

    Accounts Comparison

    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.

    Are IUX’s Fees Competitive?

    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.

    Platforms and Tools

    4.3
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    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.

    IUX Platform Walkthrough

    Platform/Tool Suitable For
    MetaTrader 5 Simple order execution, automated trading
    IUX Markets Advanced technical analysis, beginner-friendly 
    TradingView Charts Advanced technical analysis

    The Desktop Version of IUX’s MT5 Platform

    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.

    MetaTrader 5’s depth of markets feature
    MetaTrader 5’s depth of markets feature

    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.

    MetaTrader 5’s main panel
    MetaTrader 5’s main panel

    General Ease of Use

    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.

    Charts

    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.

    MetaTrader 5’s chart screen
    MetaTrader 5’s chart screen

    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:

    • 38 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
    • 24 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. Despite the rather big collection of drawing tools, the ruggedness of MT5 makes it difficult to discern price action behavior.
    • 21 timeframes. One of the standout features of MetaTrader 5 is its vast array of timeframes. MT5 allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term.
    • 3 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

    Orders

    MetaTrader 5’s order placing window
    MetaTrader 5’s order placing window

    I have broken down the available order types on the MetaTrader 5 platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing the MetaTrader 5 Platform

    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.

    The Desktop Version of IUX’s Proprietary Platform

    The main panel of IUX’s platform
    The main panel of IUX’s platform

    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.

    IUX’s MT5 Mobile App

    A watch list of selected instruments (left), a chart screen (middle), an order placing window (right)
    A watch list of selected instruments (left), a chart screen (middle), an order placing window (right)

    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.

    My Key Takeaways After Testing MT5’s Mobile App

    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.

    Tradable Instruments

    3.7
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    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.

    What Are CFDs?

    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.

    What Can You Trade With IUX?

    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

    My Key Takeaways After Exploring IUX’s Instruments Offering

    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.

    Customer Support

    4.7
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    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.

    Customer Support Test

    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.

    My conversation with IUX’s customer support
    My conversation with IUX’s customer support

    Deposit and Withdrawal

    5
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    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.

    IUX Deposit Methods

    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

    IUX Withdrawal Methods

    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

    Account Types and Terms

    4.6
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    IUX offers four retail account types with slightly different pricing mechanisms. The broker has a low minimum deposit requirement of only $10, but the only available base currency is USD. Swap-free trading is available via IUX’s Islamic accounts.

    IUX Account Opening Process

    IUX’ registration form
    IUX’ registration form

    To create an account with IUX, follow these simple steps:

    • Step 1. Click ‘Open Account’ at the top-right corner of the main page.
    • Step 2. Choose your country of residence, and enter an email and a password.
    • Step 3. Verify your email address.
    • Step 4. Choose an account type and configure its settings.
    • Step 5. Upload proof of ID and address to verify your account.

    IUX’s Account Types

    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.

    Demo Account

    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.

    Islamic 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.

    What is CFD Leverage?

    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 Restricted Countries

    IUX does not accept clients from the following countries: Iran, North Korea, Syria, Cuba, Venezuela, and Russia.

    Research

    4.8
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    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.

    IUX’s educational calendar
    IUX’s educational calendar

    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.

    Research tools from Trading View
    Research tools from Trading View

    Education

    2.6
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    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.

    Educational articles on the IUX website
    Educational articles on the IUX website

    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.

    The Bottom Line

    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.

    FAQ

    IUX is headquartered in Limassol, Cyprus. It also has offices in the Comoros and South Africa.
    IUX is authorized by four regulators, ensuring most essential safety mechanisms, such as negative balance protection, though it has no compensation scheme. The broker also does not cap the maximum retail leverage, and its stop-out and margin call policies are rather lax. Overall, I determine that the broker is sufficiently safe to trade with.
    IUX is quite suitable for beginners as it has a low minimum deposit and affordable trading fees. Moreover, the broker plans to launch started rapidly developing its educational section with valuable content for novice traders.
    The minimum deposit requirement with IUX is $10.
    Deposits can be made using bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Withdrawals can be processed via bank wire, credit and debit cards, e-wallets, and crypto-wallets.
    Transaction times may vary between 3 to 8 business days.
    The maximum leverage with IUX is 1:3000.
    IUX incorporates the standard suit of MetaTrader 5 and also has an intuitive web trader platform with charts powered by Trading View.
    Yes, it does.
    IUX can be used for scalping as it achieves relatively good execution speeds, averaging around 62 milliseconds.
    Yes, auto-trading is available via MetaTrader’s Expert Advisors (EAs) feature.
    IUX is not a great choice for hedging because of its narrow instrument assortment. There are almost no lower-risk securities, such as ETFs or bonds.
    No, spread betting is not available with IUX.
    No, it does not.
    IUX operates both as an STP broker and a market maker.
    No, IUX does not operate a bank.

    See IUX Full Information

    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

    About the Author

    Plamen StoyanovBroker Analyst

    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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    Why you can trust FX Empire

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    Please note that CFDs trading and other credit products trading is high risk and is not suitable for all investors. Trading financial instruments may result in losses as well. To be profitable And losses that can exceed the initial investment. Before the transaction, be sure to understand all the risks and should receive unbiased advice if necessary. Under no circumstances shall IUX Markets have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any investing activity. This information is not being used by people who live in the countries / jurisdictions. Including but not limited to, Australia, Belgium, France, Iran, North Korea, Japan and the United States. IUX Markets Limited has the right to change the list of countries above, according to our own discretion. The information on this website does not constitute investment advice or a recommendation or a solicitation to engage in any investment activity.