IUX Markets

IUX Markets

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IUX Markets holds regulatory oversight in both the Union of the Comoros and St. Vincent and the Grenadines. In St. Vincent and the Grenadines.

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Company Name
IUX Markets Limited
Headquarters
London, England, United Kingdom
US Traders Accepted
yes
Out-of-Money Reward
No
Max Payout
No
Deposit Currencies
USD, GBP, EUR
Trading Platform
Proprietary , MT5
Online Since
2016
Customer Support Types
Phone, live chat, email, web form
Languages
17 language support
Demo Account
Yes
Pros
  • Leading algorithmic Forex broker with 60% of 100,000+ daily trades placed by algos
  • Fast order execution and minimal slippage suitable for scalpers
  • Deep liquidity and high leverage catering to demanding traders
  • An extremely competitive pricing environment
Cons

Only the MT5 trading platform is available

Company Name
IUX Markets Limited
Headquarters
London, England, United Kingdom
US Traders Accepted
yes
Out-of-Money Reward
No
Max Payout
No
Deposit Currencies
USD, GBP, EUR
Trading Platform
Proprietary , MT5
Online Since
2016
Customer Support Types
Phone, live chat, email, web form
Languages
17 language support
Demo Account
Yes
Pros
  • Leading algorithmic Forex broker with 60% of 100,000+ daily trades placed by algos
  • Fast order execution and minimal slippage suitable for scalpers
  • Deep liquidity and high leverage catering to demanding traders
  • An extremely competitive pricing environment
Cons

Only the MT5 trading platform is available

IUX Markets prides itself on presenting traders with competitive trading expenses. Moreover, it prominently highlights its provision of swap-free trading options. Positioned as a pioneering algorithmic Forex broker, the majority of trades, a substantial 60%, are executed through algorithmic methods. This platform boasts impressively swift order execution, maintaining average execution times well below 30 milliseconds. Coupled with its generous leverage offerings, it particularly caters to scalpers and those engaged in high-frequency trading. A comprehensive evaluation of this broker was undertaken to gauge the appeal of its trading ecosystem. Is IUX Markets the right ground for your trading endeavors?

IUX Markets Regulation & Security

Opting for a broker under regulatory oversight is a prudent move, effectively curbing the risk of fraudulent activities and misconduct. My consistent counsel to traders centers around the importance of scrutinizing a broker's regulatory status and validating it by cross-referencing the issued license with the regulator's official database. In adherence to this principle, it's worth noting that IUX Markets functions as a registered broker within the jurisdiction of the Union of the Comoros.

Country of the Regulator
Name of the Regulator
Regulatory License Number
Union of the Comoros
MWALI International Services Authority
T2023172
St. Vincent and the Grenadines
Financial Services Authority
Unregulated

Is IUX Markets Legit and Safe?

IUX Markets holds regulatory oversight in both the Union of the Comoros and St. Vincent and the Grenadines. In St. Vincent and the Grenadines, it operates as a duly registered Forex broker under the status of an international business company (IBC) with the company registration number 26183. This registration falls under the jurisdiction of the Financial Services Authority (FSA), which, while acting as the business registrar, doesn't encompass the regulatory domain of Forex brokers.

Operational since 2016, IUX Markets amassed 180,000+ traders and has a clean track record.

While IUX Markets is duly registered with the US National Futures Association (NFA), it's important to clarify that it doesn't hold NFA membership. Consequently, the NFA does not exert regulatory control over its operational undertakings. This affirmation aligns with the fact that IUX Markets does not extend its services to traders based in the United States.

IUX Markets IBC Registration

Fees

When assessing brokers, I place significant emphasis on trading expenses, recognizing their pivotal role in influencing profitability. In this realm, IUX Markets stands out, offering traders an exceptional pricing structure that encompasses both commission-free and commission-based options. This dual approach presents a distinct edge that I believe is one of the most substantial advantages offered by IUX Markets.

Deposit Fee
Third-Party
Withdrawal Fee
Third-Party
Inactivity Fee
$0
Commissions / Spreads
$7.00 per round lot / 0.0 – 0.5 pips
Withdrawal Options
Bank wires, credit/debit cards, e-wallets, cryptocurrencies
Deposit Options
Bank wires, credit/debit cards, e-wallets, cryptocurrencies

 

IUX Markets offers a commission-based alternative with access to raw spreads of 0.0 pips for a commission of $7.00 per round lot, resulting in competitive trading fees.

IUX Markets Spreads

The average trading costs for the EUR/USD at IUX Markets are:

Average Spread
Commission per Round Lot
Cost per 1.0 Standard Lot
0.8 pips
$0.00
$8.00
0.3 pips
$7.00
$11.00

Often overlooked, swap rates on leveraged overnight positions constitute a trading cost that can magnify in significance depending on the chosen trading strategy. I consistently advocate for traders to scrutinize these rates prior to calculating the total trading expenses.

Key Points:

  • The potential for swap-free trading extends beyond Islamic traders; IUX Markets offers this option at their discretion. For those not utilizing a swap-free account, the broker maintains competitive swap rates.
  • IUX Markets introduces the intriguing concept of positive swap rates on qualifying short positions. This means that traders could potentially earn money by holding positions overnight.

MT5 traders can readily access swap rates through their platform using the following steps:

  1. Right-click on the symbol of interest in the Market Watch window and select Specification.
  2. Scroll down to locate Swap Long and Swap Short rates.

Below, you'll find a collection of instances depicting trading costs for both purchasing and selling the EUR/USD pair, while keeping the position open for one night and seven nights, all within the context of a commission-free account.

Taking a 1.0 standard lot buy/sell position in the EUR/USD, factoring in the average spread within a commission-based account, and holding the position overnight, yields the following outcomes:

Average Spread
The commission per Round Lot
Swap Long
Swap Short
Total TradingCosts
0.3 pips
$7.00
-$3.6919
X
$13.6919
0.3 pips
$7.00
X
$1.1731
$8.8269

Taking a 1.0 standard lot buy/sell position, in the EUR/USD, at the average spread in the commission-based account and holding it for seven nights will cost the following:

Average Spread
The commission per Round Lot
Swap Long
Swap Short
Total TradingCosts
0.3 pips
$7.00
-$25.8433
X
$35.8433
0.3 pips
$7.00
X
$8.2117
$1.7883

Range of Assets

Specializing predominantly in Forex trading, IUX Markets excels in delivering extensive market coverage for traders within this asset class. Expanding its reach, the broker has introduced a handful of cryptocurrency pairs to its offerings, along with a curated assortment of highly liquid blue-chip stocks. Moreover, traders are afforded the opportunity to delve into indices, commodities, and bonds. Sporting an impressive arsenal of over 250 trading instruments, IUX Markets adeptly caters to the needs of retail traders, showcasing a commendably broad array of assets. This diversified spectrum also caters to the preferences of high-frequency traders and scalpers, capitalizing on IUX Markets' focus on optimizing liquidity provisions.

Asset List Overview

Currency Pairs
Yes
Cryptocurrency Pairs
Yes
Commodities and Metals
Yes
Index CFDs
Yes
Equity CFDs / DMA Shares
Yes
Bonds
Yes
ETFs
No
Options, Futures, and Synthetics
Yes
Maximum Retail Leverage
1:3000
Maximum Pro Leverage
1:3000

IUX Markets Leverage

Forex traders on IUX Markets can access substantial leverage, reaching up to 1:3000 in the commission-free account and 1:1000 in the bonus-enabled option. However, it's important to highlight that this leverage is variable based on the specific asset being traded and may be subject to reduction. The broker extends a noteworthy high-leverage proposition to traders. Notably, IUX Markets upholds negative balance protection, a reassuring feature that shields traders from incurring losses exceeding their initial deposits.

IUX Markets Trading Hours (GMT -2)

Asset Class
From
To
Cryptocurrencies
Sunday 00:00
Friday 24:00
Forex
Sunday 22:00
Friday 21:59
Commodities
Sunday 23:01
Friday 21:55
Metals
Sunday 23:00
Friday 21:59
US Equities
Monday 14:30
Friday 21:00

Highlighted Points:

  • Unlike the continuous trading nature of Forex and commodities, equity markets operate within specific trading sessions that open and close.
  • Notably, IUX Markets provides round-the-clock cryptocurrency trading availability, extending beyond the typical limitations of equity markets.

For MT5 traders seeking information on trading hours, I suggest the following approach:

  1. Initiate a right-click on the desired symbol within the Market Watch window.
  2. Opt for the Specification tab from the ensuing menu.
  3. Progress through the options until you locate the Sessions category, which contains the relevant trading hours information.

Account Types

IUX Markets presents traders with a commission-free account option alongside a specialized bonus account. With an accessible minimum deposit requirement of $10, accessibility is maximized for potential traders. In terms of cost efficiency, the commission-free account demonstrates an attractive proposition, showcasing trading costs on par with, if not lower than, numerous other ECN accounts prevalent within the industry. This account configuration empowers traders to adeptly handle portfolios with an eye on minimizing expenses, capitalizing on low latency, swift order execution, and negligible slippage.

Account Types at IUX Markets:

Standard Account:

  • Spread from 0.2 pips
  • Maximum leverage: 1:3000
  • Swap-free trading
  • Minimum deposit: $10 or equivalent
  • Minimum trade size: 0.1 pips
  • Automatic stop-out level: 0%
  • $30 bonus available with a minimum deposit of $20

Standard Bonus Account:

  • Spread from 0.5 pips (low to average)
  • Maximum leverage: 1:1000
  • Swap-free trading
  • Minimum deposit: $10 or equivalent
  • Minimum trade size: 0.1 pips
  • Automatic stop-out level: 35%
  • $30 bonus available with a minimum deposit of $20
  • Deposit bonuses of 35% and 25% up to $3,300

IUX Markets Demo Account

IUX Markets provides unlimited demo accounts, perfect for testing strategies and algorithmic trading. MT5 users can easily open a demo account directly from the trading platform.

It's advisable to select a demo account balance similar to your planned live deposit. However, be cautious not to perceive the demo account as a complete replication of real trading. The absence of real financial involvement can create unrealistic expectations and a different trading experience for most newcomers.

IUX Markets Account Types

Trading Platforms

Trading Platform at IUX Markets:

IUX Markets provides traders with the readily available MT5 trading platform, renowned for its user-friendly interface and robust features. This platform supports automated trading and boasts an integrated copy trading service. However, it's important to note that MT5, while powerful, might not offer the same level of versatility as its predecessor, MT4. Unlike some competitors, IUX Markets does not furnish users with enhanced third-party plug-ins for MT5.

MT5 is accessible in various formats:

  • Desktop Client: Essential for algorithmic trading, the desktop version of MT5 offers comprehensive functionalities.
  • Web-Based Version: A lightweight, browser-based option allows for convenient access on the go.
  • Mobile App: MT5's mobile application caters to traders seeking seamless trading experiences on their smartphones.

Overall, IUX Markets leverages the MT5 platform, although it might not encompass all the advanced features and third-party enhancements found elsewhere.

Overview of Trading Platforms

Noteworthy:

  • The mobile version of the IUX Markets MT5 trading platform is available on iOS and Android devices
  • Traders can download it from the respective stores free of charge and use their MT5 login details to access their accounts on the go

Unique Features

IUX Markets operates as an execution-only broker and excels significantly within this domain. It's worth emphasizing the presence of over 25 liquidity providers, a testament to the robust execution capabilities. The platform showcases swift order execution, with an impressive turnaround time of under 30 milliseconds, facilitating the processing of over 40 orders per minute. This seamless execution process is fortified by low latency and minimal slippage, contributing to a favorable trading experience.

A noteworthy facet is that a substantial majority, exceeding 60%, of all trades conducted on IUX Markets are executed algorithmically. To ensure uninterrupted market access, the broker offers collocated VPS hosting, strategically positioned at its trading hub in New York within the STORMIC LD4 data center. This initiative ensures round-the-clock connectivity, enhancing the trading environment for clients.

Research & Education

Being an execution-only broker, IUX Markets abstains from producing proprietary research or engaging third-party research sources. Although this approach might create a void in services when compared to comprehensive brokers, the abundance of online free and paid resources mitigates its impact, rendering it a relatively insignificant drawback. The emphasis at IUX Markets remains steadfastly on optimizing core trading execution and maintaining a competitive cost structure, which substantiates its position as a competitive player in the field.

IUX Markets refrains from offering educational resources tailored to novice traders. Similar to the earlier discourse on research, the same perspective holds true for educational content.

Customer Support

IUX Markets highlights its commitment to round-the-clock customer support, yet this assistance is predominantly accessible through email. The live chat function, upon activation, redirects users to the FAQ section, an attempt to preemptively address a spectrum of inquiries. However, there is a noticeable absence of a direct phone number and corresponding phone support, which is a notable shortcoming. The omission of a direct line to the finance department, a crucial point of contact for many critical matters, is particularly regrettable.

Customer assistance primarily takes the form of email communication. Clients have the facility to connect with a customer support representative 24/7, with support available in both Thai and English languages. Additionally, IUX Markets extends its reach through social media platforms such as Facebook and Instagram, disseminating pertinent content related to the brokerage and the trading landscape.

Bonuses and Promotions

IUX Markets prominently features a $30 bonus on its homepage, an incentive that traders can claim with a minimum deposit of $20. In addition, there are deposit bonuses of 35% and 25%, capped at $3,300. It's important to note that IUX Markets maintains a dedicated account that comes with slightly elevated spreads. Detailed terms and conditions for these bonuses are available on the company's website, and I strongly advise traders to thoroughly read and comprehend them prior to accepting any bonus offer, ensuring clarity and avoiding potential confusion.

For active traders, IUX Markets introduces a cashback rebates program that rewards trading activity through a well-structured three-tier system. Each traded lot accrues points, with each point equivalating to either $1 in trading credit or $0.5 in real money. As an illustration, possessing 100 Points allows traders to exchange them for either $100 in trading credits or $50 in actual funds. The status advancement is directly linked to trade volume:

  • After accumulating 30 trading days, traders transition from Rising Star to Champion.
  • Upon reaching 60 cumulative trading days, traders ascend from Champion to Elite.

The point rewards per lot, based on status levels, are as follows:

  • Rising Star traders earn 0.3 points per 1.0 lot within the Standard and Standard Bonus accounts.
  • Champion traders earn 0.5 points per 1.0 lot within the Standard and Standard Bonus accounts.
  • Elite traders earn 0.8 points per 1.0 lot within the Standard and Standard Bonus accounts.

Awards

IUX Markets notes ten awards from UK-based issuers but does not provide further details.

Opening an Account

The online application process at IUX Markets is swift, taking less than 20 seconds. It entails entering your country of residence, name, email address, and desired password. Completion of the registration necessitates email verification, an essential security measure. Notably, I appreciate that IUX Markets prioritizes a streamlined approach and refrains from soliciting superfluous data.

The account verification phase represents the final requirement, typically fulfilled by submitting a copy of your identification and a proof of residency document.

Minimum Deposit:

  • The standard account at IUX Markets necessitates a minimum deposit of $10.

Payment Methods:

IUX Markets offers a range of payment options, including bank wires, credit/debit cards, Skrill, Neteller, cryptocurrencies, and various online banking solutions tailored to local Asian markets.

Accepted Countries:

IUX Markets extends its services to traders residing in a majority of countries. It's important to note, however, that a few notable exceptions include Australia, Belgium, France, Iran, North Korea, Japan, and the United States.

Deposits and Withdrawals

The secure back office of IUX Markets oversees all financial transactions for verified clients.

IUX Markets maintains a user-friendly fee structure by not imposing internal deposit or withdrawal fees. However, it's important to note that external charges from third-party processors might be applicable. Deposits are processed promptly, typically taking anywhere from instant to 20 minutes, contingent on the chosen payment method, except for bank wires. Similar processing times extend to withdrawals, with IUX Markets indicating that it handles most withdrawal requests within a span of five to ten minutes.

The inclusion of cryptocurrencies in the portfolio is particularly noteworthy. This strategic addition caters to the significant demand for cryptocurrency transactions within core Asian markets. Further enhancing convenience, IUX Markets offers local online banking solutions, presenting its primary trader demographic with a reliable alternative. Traders have the flexibility to open accounts denominated in a range of major currencies, including USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

Is IUX Markets a good broker?

The trading environment offered by IUX Markets particularly appeals to high-frequency traders, scalpers, and algorithmic traders, constituting over 60% of the daily trading volume. Functioning as an execution-only broker, IUX Markets tailors its services to these core trader profiles, delivering an exceedingly competitive trading setting. Of paramount significance, the remarkable aspect is the substantially low trading costs maintained by IUX Markets.

This characteristic sets it apart, with fees that are notably 50% lower compared to the majority of its competitors. To complement this, the presence of extensive liquidity, sourced from a pool of more than 25 liquidity providers, contributes to the robustness of the trading environment. Coupled with fast order execution, minimal latency, and limited slippage, IUX Markets ensures that the demanding requirements of proficient traders are comprehensively met.

FAQs

Does IUX Markets offer mobile trading?

Mobile trading is available via the MT5 mobile app.

What is the minimum deposit at IUX Markets?

The IUX Markets minimum deposit is $10.

Do IUX Markets offer a no-deposit bonus?

IUX Markets lists a $30 bonus on its website and features a 35% deposit bonus.

Is IUX Markets a scam or legit?

IUX Markets operates as a legit and duly registered but unregulated Forex broker and has a clean record.