IUX Overview
IUX is operated by IUX Limited, a regulated and licensed broker of international CFDs trading securities. IUX MARKETS (MU) LTD is regulated by the Financial Services Commission (FSC) in Mauritius under license number GB22200605 as an Investment Dealer (Full Service Dealer, Excluding Underwriting).
IUX operates under IUX ZA (PTY) Ltd, which is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No 53103. The firm’s headquarters are located in Cape Town, Western Cape. Since launching in 2016, IUX has drawn in more than 180,000 traders, upholding an impressive track record in the industry. IUX MARKETS AU PTY LTD. also holds ASIC license #529610
IUX welcomes traders from most countries, with specific exceptions including Australia, Belgium, France, Iran, North Korea, Japan, and the United States, due to regulatory restrictions.
Operational Highlights
- Regulatory Bodies: Financial Sector Conduct Authority (FSCA) in South Africa, among others.
- Headquarters: st Floor, Office A, Agia Zoni, 3031, Limassol, Cyprus.
- Inception: Operational since 2016 with over 180,000 traders.
- US Market: Does not accept US-based traders.
Costs and Trading Conditions
IUX offers competitive trading fees and conditions. The broker provides both commission-free and commission-based pricing environments, catering to a wide range of trading strategies and preferences.
Specifically, IUX features a commission-based alternative granting access to raw spreads starting from 0.0 pips, alongside a reasonable commission of $7.00 per round lot.
An often overlooked aspect, swap rates on leveraged overnight positions, is also competitively addressed by IUX. Not only does the broker offer swap-free trading options beyond the Islamic trading community, but it also provides positive swap rates on qualifying short position.
IUX clarifies its trading cost structure through examples on its website to show the financial impact of both short-term and week-long trades. These examples provide a trader-friendly cost setup, making it easier for traders to understand and anticipate their trading expenses.
Highlights include:
- Raw spreads from 0.0 pips with a commission of $7.00 per round lot.
- Swap rates management for leveraged overnight positions, crucial for evaluating total trading costs. Interestingly, all traders may qualify for swap-free accounts, not limited to Islamic traders.
- Positive swap rates on qualifying short positions, benefiting traders financially for holding trades overnight.
- Detailed guidance is available for MT5 users to access swap rates and trading hours directly from the platform.
Range of Assets
Offering a broad spectrum of over 250 trading instruments, IUX excels in Forex while also providing access to:
- Cryptocurrencies
- Stocks
- Indices
- Commodities
- Bonds
This diversity caters well to retail traders, high-frequency traders, and scalpers alike, with a focus on liquidity.
Leverage & Trading Hours
- Leverage: Up to 1:3000 for Forex in the commission-free account, adjustable based on the asset and account type. Additionally, IUX applies a negative balance protection which ensures traders do not lose more than their deposits.
- Trading Hours: Spanning various asset classes, IUX follows GMT -2, with specific hours detailed for commodities, crude oil, gold, metals, and equity indices. It offers 24/7 cryptocurrency trading.
Account Types Review
IUX provides a straightforward account structure designed to accommodate the diverse needs of its clientele. The broker offers one commission-free account, with a minimum deposit requirement of just $30.
Account Offerings
IUX presents four primary account options:
- Standard
- Pro
- Raw
These accounts are tailored to support different trading preferences and strategies, offering distinct benefits suited to the varied demands of individual traders.
Detailed Account Features
Standard Account
- Offers low spreads starting from 0.2 pips.
- Provides a high maximum leverage of 1:3000.
- Includes swap-free trading options.
- Requires a minimum deposit of $30.
- Features a minimum trade size of 0.1 lot.
- Has an automatic stop-out level set at 0%.
Raw Account
- Features low to average spreads starting from 0.0 pips.
- Comes with a maximum leverage of 1:3000.
- Includes swap-free trading options.
- Requires a minimum deposit of $200.
- Features a minimum trade size of 0.1 lot.
- Has an automatic stop-out level set at 0%.
Demo Account
In addition to its live accounts, IUX encourages its clients to use demo accounts, which are particularly useful for:
- Testing trading strategies.
- Experimenting with algorithmic trading solutions.
- Familiarizing oneself with the MT5 platform without financial risk.
Trading Platforms and Services Review
IUX offers access to the MT5 and WebTrader trading platforms, catering to traders seeking advanced trading functionalities, including automated trading and copy trading services. Although it may lack the customization options of MT4 and an array of third-party plugins, MT5’s extensive array of features caters to a wide range of trading strategies.
MT5 Platform:
- Available as a desktop client, which is essential for algorithmic trading.
- A web-based version offers a lighter, accessible alternative.
- Mobile app versions for iOS and Android, allowing trading on the go.
IUX excels in execution services, leveraging over 25 liquidity providers to ensure fast order execution (below 30 milliseconds) and minimal slippage. The option for collocated VPS hosting at the STORMIC LD4 data center in New York also supports algorithmic trades.
Research & Education
IUX positions itself as an execution-only broker, not providing in-house or third-party research. This focus on core execution services and low costs might limit resources for comprehensive market analysis but aligns with its streamlined service model.
Additionally, the broker offers educational content through a dedicated YouTube channel, aiding traders in accessing learning materials externally. This is especially advantageous for beginners aiming to enhance their trading knowledge.
Customer Support
Customer support is primarily via email, with 24/7 availability in many languages including:
- English
- Thai
- Bahasa Malayu
- Bahasa Indonesia
- Laos
- Vietnam
- Philippines
- Hindi
- Japanese
- Español
- Português
- Chinese
The broker also engages with clients on social media platforms like Facebook and Instagram. However, the lack of phone support and live chat functionality may limit immediate assistance for urgent issues.
Website Languages
English, Español, Bahasa Indonesia, Português, Vietnamese, and Chinese.
Opening an Account with IUX
Account Registration
Registering an account with IUX is streamlined and efficient, requiring less than 20 seconds to complete the online application. The process involves basic information such as country of residence, name, email, and a desired password, emphasizing privacy by not collecting unnecessary data. E-mail verification follows as a crucial step to finalize registration.
Account Verification
Completing account verification is mandatory and is typically fulfilled by submitting a copy of an ID and one proof of residency document. This step is critical to ensure security and compliance with regulatory requirements.
Deposit and Withdrawal
Minimum Deposit
The minimum deposit required to open a standard account with IUX is set at an accessible $50, making it easy for a wide range of traders to start trading.
– Standard Account: Minimum Deposit $50
– Pro Account: Minimum Deposit $200
– Raw Account: Minimum Deposit $200
– Minimum Withdrawal: $10 for all account types.
Payment Methods
IUX supports a variety of payment methods, catering to a global clientele:
- Bank wire
- Credit/debit cards
- E-wallets such as Skrill and Neteller
- Cryptocurrencies
- Local online banking solutions, particularly for its Asian market base
All financial transactions are managed securely through the IUX back office for verified clients. Notably, the broker does not impose internal fees for deposits or withdrawals, although third-party charges may apply. Deposits are processed swiftly, typically instant to 20 minutes, except for bank wires. Withdrawals are also handled efficiently, with most processed within five to ten minutes after submission.
The inclusion of cryptocurrencies and local banking options helps accommodate the preferences of IUX’ core trader base in Asia.
Margin Call and Stop Out
– Margin Call Level: 40% for Standard, Raw, and Pro accounts. Additionally, for all account types, if the margin level is less than or equal to 100, stock positions will be automatically closed during the intraday trading break.
– Stop Out Level: 20% for Standard, Raw, and Pro accounts.
Conclusion
IUX caters to traders with its MT5 platform, putting a greater focus on execution quality and low-cost trading. While it may lack in areas like educational resources and customer support breadth, its focused approach on trading execution could appeal to those prioritizing efficiency and cost-effectiveness.
The broker’s promotional activities offer additional incentives, though careful consideration of terms is advisable. As always, users should weigh these factors against their trading needs and preferences.
For high-frequency traders, scalpers, and those using algorithmic strategies—who constitute more than 60% of daily transactions—IUX presents a compelling choice. As an execution-only broker, it offers deep liquidity, courtesy of 25+ liquidity providers, rapid order execution, low latency, and minimal slippage. These features, combined with trading costs that are notably lower than many competitors, make IUX an attractive option for traders seeking a competitive edge.
