IUX is a Cypriot and South African forex and CFD Broker established in 2016. IUX offers four retail trading accounts with competitive trading conditions. Retail traders can trade over 250 financial instruments using powerful platforms.
IUX Review – Analysis of Brokers’ Main Features
- ☑️ Overview
- ☑️ Detailed Summary
- ☑️ Safety and Security
- ☑️ Bonus Offers and Promotions
- ☑️ IUX Affiliate Programs
- ☑️ Minimum Deposit
- ☑️ Account Types and Features
- ☑️ IUX Account Registration
- ☑️ IUX Trading Platforms
- ☑️ Range of Markets
- ☑️ Fees, Spreads, and, Commissions
- ☑️ Deposits and Withdrawals
- ☑️ Education, Research, and, Reports
- ☑️ IUX vs BDSwiss vs Exness – a Comparison
- ☑️ Customer Support
- ☑️ Customer Reviews
- ☑️ In Conclusion
- ☑️ Frequently Asked Questions
Overview
Having focused on enhancing user experiences, we have recently delved into IUX, a prominent name in the forex and CFD brokerage industry since 2016.
From our research, it’s evident that they have strongly emphasized establishing trust, as they operate under the supervision of the Financial Services Authority in Saint Vincent and the Grenadines, as well as the Financial Sector Conduct Authority in South Africa.
One aspect that stood out to us was IUX’s commitment to a seamless and streamlined trading process. Their technology is designed to prioritize fast order execution, which is highly beneficial for traders who prefer scalping or other strategies that require minimizing slippage.
The competitive spreads, starting from 0.0 pips, along with the extensive liquidity and leverage options of up to 1:3000, will surely attract traders with various trading styles and risk preferences.
IUX has made a deliberate effort to be inclusive by providing a range of account types that cater to different preferences and levels of experience.
Traders can benefit from the availability of the IUX Web and MetaTrader 5 platforms and the IUX app, which offer a comprehensive range of tools for thorough market analysis and seamless execution of trades.
We were also glad they protect client funds using segregated trust accounts, which we consider a crucial measure.
We found IUX’s innovative programs intriguing, as they aim to incentivize active traders. The Lot Back Program and the Introducing Broker Program offer distinct opportunities to enhance earnings potentially.
Even newbie traders are not overlooked; they receive a generous $30 bonus to kickstart their journey.
What kind of trading accounts does IUX offer?
IUX provides four retail trading accounts: Standard, Standard+, Raw, and Pro, each tailored to different trading demands and skill levels.
Which regulatory bodies supervise IUX?
The Financial Services Authority of Saint Vincent and the Grenadines oversees IUX, as does the Financial Sector Conduct Authority in South Africa.
Detailed Summary
Safety and Security
IUX takes all necessary steps to ensure the client’s safety while trading and the safety of their funds.
Protection of Client Funds
How does IUX approach risk management for its clients?
IUX uses negative balance protection to prevent clients from losing more than their account balance.
What is the FSCA’s role in regulating IUX?
The FSCA regulates IUX’s operations in South Africa, ensuring that the broker adheres to local financial legislation and standards.
Bonus Offers and Promotions
Apart from its attractive 30 USD Welcome Bonus, IUX also offers an Account Opening and Deposit Bonus. Let’s explore each of these opportunities for traders to boost their capital.
30 USD Welcome Bonus
IUX offers a $30 Welcome Bonus right away, providing a risk-free method to get started with trading. Only a confirmed account is required to get this incentive, which is credited instantly to a unique Welcome Account.
This offers you $30 in trading power without risk. With a possible profit of $150 and the ability to withdraw those earnings after certain trading criteria are satisfied, it’s a great way to get started in trading without having to tap into your wallet.
35% Deposit Bonus
For those willing to make a larger commitment, the 35% Deposit Bonus on Standard+ accounts is an excellent starting point. Deposits of up to $300 can be enhanced instantaneously, starting at $10.
This incentive is not cash you can just pocket; it is intended to fuel your trading activity, allowing you to execute larger transactions and earn greater benefits. The true benefit is that any earnings you generate while using the bonus money are yours to keep.
25% Account-Opening Bonus
Once you’ve taken advantage of the 35% incentive, IUX continues the trend with a 50% deposit bonus. This incentive applies to subsequent deposits and is worth up to $3,000 more.
Like the first bonus, this is not withdrawable; however, trading gains are. This ongoing bonus assistance enables traders to retain a higher trading balance, allowing for more strategic and diverse trading choices.
100% Deposit Bonus
The 100% investment Bonus is another game changer, tripling your investment during promotional times. This incentive is available for deposits of $10 or more. This, like the other bonuses, is not withdrawable.
However, any gains gained from trading with these bonus monies can be withdrawn. This incentive effectively doubles your trading money, providing you with a significant advantage in the market and allowing you to leverage larger positions for possibly higher returns.
IUX Rebates Program – LotBack
Finally, the LotBack Programme offers traders a unique opportunity to be rewarded for their trading activity. Traders earn points through the LotBack system as they execute trades, which can later be redeemed for cash or bonuses.
Traders at the Rising Star level have the opportunity to earn up to 0.3 IRP per lot. As they progress to the Champion and Elite levels, their earning potential increases to up to 0.8 IRP per lot.
Traders can redeem their points whenever they choose, with the ability to track their progress in real time through the client area. This provides a transparent and incentivizing reward system.
What are the criteria for withdrawing profits earned through IUX bonuses?
Profits from IUX bonuses can be withdrawn after satisfying the broker’s specified trading volume restrictions.
Does IUX provide any referral bonuses?
Yes, IUX provides referral incentives through its affiliate program, rewarding traders who bring new clients to the platform.
IUX Affiliate Programs
Our comprehensive analysis of the IUX Partner Programme uncovers a strong and potentially lucrative framework for traders seeking to broaden their income streams. It is especially beneficial for individuals who already have established connections in the forex trading industry.
The program’s commission structure is quite generous, offering up to 50% lifetime on referred trades and bonuses of up to $10,000.
This makes it a highly appealing opportunity for individuals who are focused on achieving growth. Traders should understand the direct correlation between earning potential and the trading activity of referrals.
Its dual Introducing Broker and Affiliate Programme structures demonstrate the program’s versatility. The Introducing Broker option is specifically tailored for individuals who have direct connections to active traders.
It offers a revenue share of 25% to 50% and provides daily payouts. This program rewards individuals who can refer a large number of traders as well as those who can refer traders with substantial trading activity.
Additionally, we also found that the Affiliate Programme is designed to meet the needs of online influencers and content creators by offering a wide range of marketing tools. In our view, it appears to be a wise decision for individuals who already have a strong online presence and want to generate income from their audience.
In addition, we observed that the IUX Partner Programme offers a user-friendly dashboard for efficiently managing referrals and monitoring earnings.
The dedication to transparency is admirable, as no undisclosed fees affect commission withdrawals. Additionally, we appreciate the convenience of transferring earnings to either a bank or trading account.
How to Register an Affiliate Account with IUX
To partner with IUX, prospective affiliates can follow these steps:
- Start by going to the IUX website: https://iuxaffiliates.com.
- Select the “More” option from the top menu.
- Hover over the “Company” section to reveal a dropdown menu.
- Pick “partnership” from the dropdown menu to access the partnership page.
- Click “Learn more” below the Introducing Broker program to receive more information.
- Thoroughly evaluate the material offered.
- Locate and click the “Join Us” option to begin the registration process.
- Complete a registration form.
- Read the affiliate program’s terms and conditions carefully.
- Submit the registration form and wait for IUX’s confirmation email.
Once your account has been validated and authorized, you will be granted access to the IUX partner dashboard, where you can begin receiving marketing materials, monitoring referrals, and managing your profits.
How can I sign up for the IUX Affiliate Programme?
To register, go to the IUX affiliate website, complete the registration form with correct personal information, and agree to the terms and conditions.
What marketing tools does IUX give to its affiliates?
IUX provides various marketing tools, such as banners, landing pages, and tracking links, to enable affiliates to promote IUX efficiently.
Minimum Deposit
IUX offers access to 4 Live account options. The minimum deposit required to open a Standard and Standard+ account is 10 USD. Moreover, upon registration of a Raw or Pro Account, a minimum deposit of 500 USD will be required.
Account Types and Features
We explored IUX’s website and found that the broker offers traders a versatile choice between accounts that should meet the requirements of all types of traders. Let’s take a look at each account type.
While IUX doesn’t support any currencies like EUR, GBP, ZAR, or AUD, traders can register an account in USD.
Standard Account
The Standard Account is a simple option IUX provides, with a minimum deposit requirement of just $10. It is specifically tailored for novice traders, offering a user-friendly trading experience with no fees and flexible spreads starting at 0.2 pips.
With this account, you can explore and discover your trading style across various markets and platforms. If you are new to investing or prefer a straightforward and affordable option, this account could be suitable.
Standard+ Account
The Standard+ Account provides a slightly different variation compared to the standard option and requires a minimum deposit of $10. Although it still offers a no-commission structure and access to all markets and platforms, the maximum leverage has been decreased to 1:1000.
This option might be more appropriate for traders who prefer a conservative approach to leverage. Spreads in the Standard+ Account are slightly wider than those in the Standard Account, starting from 0.5 pips.
However, they are quite competitive, especially considering prevailing market conditions.
Raw Account
If you prioritize tight spreads, you might find the Raw Account to be a worthwhile option. Nevertheless, a minimum deposit of $500 is required, and a commission of $3 per side per lot traded.
Furthermore, it’s worth noting that you gain access to incredibly low raw spreads, sometimes as low as 0.0 pips. This feature is especially attractive to scalpers and high-frequency traders.
We found that this account continues to provide significant leverage of up to 1:3000 and is accessible on all IUX trading platforms and markets.
Pro Account
The Pro Account is designed for experienced traders who need a more advanced trading environment. There is a minimum deposit of $500, but you won’t have to worry about any commissions.
Additionally, the spreads offered can be quite competitive, starting from 0.1 pips. This account provides a significant leverage of up to 1:3000 and grants access to various markets and platforms.
In our experience, this empowers experienced traders with the tools to implement intricate trading strategies effectively.
Demo Account
The Demo Account offered by IUX is a vital tool that caters to the needs of both novice and seasoned traders.
We found that with this account, you can practice your strategies and become acquainted with the IUX platform without spending a single dime. One can experiment with different trading styles, explore a wide range of markets, and refine their approach before switching to a live account.
Islamic Account
IUX offers Swap-Free accounts on all account types, including Standard, Standard+, Pro, and Raw Options. Traders who follow Islamic principles can take advantage of IUX’s Islamic Account, which fully complies with Sharia law.
We found that this account does not charge swap (interest) fees, which are prohibited in Islamic finance. Muslim traders can confidently participate in the markets while staying true to their religious beliefs, as this option is accessible on all platforms and in all markets.
What is the minimum trade size for IUX accounts?
The minimum transaction size for all IUX accounts is 0.01 lots, which allows traders to limit their risk efficiently.
Can IUX account holders modify their account type after registering?
Yes, traders can seek a change in account type by contacting IUX customer support.
IUX Account Registration
The registration process to start trading with IUX is extremely easy, and here’s how we opened an account with this broker:
Step 1: Navigate to the Webpage
On the official IUX website click on the green “Open an Account” button located at the top of the page.
Step 2: Complete the Online Registration Form.
Fields that need to be completed to register an IUX Account include country of residence, a valid email address, and a newly created password. In addition, agree to the UIX Terms and Policies to continue. Click Submit.
A pop-up window will notify you to check your email for verification.
Step 3: Complete Registration and Fund Account
Go to your email inbox and open the email. Click the “Confirm Your Choice” banner to verify your email address. You will be redirected to the IUX website, and a pop-up banner will notify you that your email verification was successful.
Before you can fund your account, you must complete your profile prove your identity, and provide additional information and necessary documents.
Once your documents are uploaded and reviewed, IUX will provide feedback on your application. Once approved, you can choose your account type, and start using the IUX Web platform, download the app, or access MetaTrader 5 to start trading over 250 instruments.
What happens once I verify my email address with IUX?
After validating your email, you will be routed to the IUX website, where you can log in and complete your profile by entering more information and submitting essential documents.
Can I begin trading immediately after enrolling with IUX?
No, you must complete your profile verification by supplying identification and address documentation before trading on IUX.
IUX Trading Platforms
IUX offers a unique balance of its proprietary platforms and the powerful MetaTrader 5. Below, we explore each platform and the benefits they offer traders.
IUX App Trade
After conducting a comprehensive analysis of the IUX App, we have determined that it is a meticulously crafted mobile platform featuring a user-friendly interface.
Traders who require up-to-the-minute market data, fast order execution, and customized watchlists will find this platform ideal for their needs. Access to advanced charting tools and a diverse range of technical indicators is highly beneficial for individuals relying heavily on technical analysis.
The integrated economic calendar is a noteworthy feature that offers timely updates on market-moving events. This tool proves valuable for traders who incorporate fundamental analysis into their strategies.
MetaTrader 5
Based on our expertise, MT5 is a robust multi-asset platform renowned for its advanced technical analysis capabilities and automated trading features.
With this robust platform, traders can access a comprehensive platform to trade various financial instruments, including forex, stocks, and commodities.
MT5’s strong support for algorithmic trading through Expert Advisors (EAs) is a major advantage for individuals who create and utilize automated trading strategies.
IUX Web Trade
The web trader IUX offers a user-friendly platform that caters to novice and seasoned traders. The interface is designed to be user-friendly, making it easy to navigate and providing quick access to essential tools.
The platform offers a range of order types, such as market, limit, and stop orders, to cater to different trading strategies, giving users the flexibility they need. An impressive aspect of this platform is its customizable workspace, which empowers traders to tailor their layouts to optimize efficiency.
The platform’s capabilities are further enhanced by integrated charting tools, which offer a range of technical indicators. This allows for in-depth market analysis to be conducted.
Does the IUX app have an economic calendar?
Yes, the IUX app features an integrated economic calendar with fast information on market-moving events, which is useful for fundamental research.
What makes the IUX Web platform so user-friendly?
The IUX Web platform provides a customizable workspace, various order types, and integrated charting tools, allowing traders to explore and execute trades easily.
Range of Markets
IUX offers over 250 instruments that can be traded over popular asset classes, including the following:
- Diverse currency pairs
- Over 120 Cryptocurrencies
- A diverse range of stocks
- Over 10 metal instruments
Moreover, Traders can access more than 10 energies with IUX.
What commodities can you trade on IUX?
Traders on IUX can trade a variety of commodities, including gold, silver, crude oil, and natural gas.
Can traders utilize hedging methods on the IUX?
Yes, IUX allows hedging strategies, which enable traders to open numerous positions to mitigate risk.
Leverage and Margin
Our analysis of IUX’s leverage and margin policies highlights a flexible approach that adjusts to the constantly evolving market landscape. Upon reviewing their client agreement, we discovered a clause granting IUX the power to adjust leverage levels without advance notification.
The broker’s ability to quickly adapt to unpredictable market conditions and important economic news enables them to manage risk effectively. They typically set a maximum leverage of 1:300, although it may be higher during normal market conditions.
From our experience, having this level of flexibility is essential when effectively managing risk.
We have to mention that IUX frequently decreases leverage to a maximum of 1:300 when market volatility is high, right before significant economic news is released, and during weekends or holidays.
As stated in section 3.3 of their client agreement, this precautionary measure is designed to safeguard both the trader and the broker against heightened risk during these periods.
Traders should note that these adjustments will only impact new orders made during the designated times and that existing positions will not be affected.
In addition, IUX takes a proactive approach by adjusting margin requirements ahead of events that may significantly impact market prices. This strategic maneuver helps reduce risk’s potential impact when trading conditions are unpredictable.
Fees, Spreads, and, Commissions
IUX has a transparent fee schedule that is spread across the following trading and non-trading fees. However, keep in mind that conditions change and that we always urge traders to confirm all fees with IUX before they invest capital.
Spreads
The Standard account is an excellent choice for beginners or those who prefer a straightforward approach to trading. With spreads as low as 0.2 pips and no commission, it provides a solid foundation to get started.
Experienced traders or those who prefer high-volume trading may be drawn to the Standard+ account. While the spreads have a starting point of 0.5 pips, a deposit bonus of up to 35% is available, which could be quite appealing.
If you prioritize razor-thin spreads, the Raw account’s spreads starting from 0 pips are incredibly enticing.
Commissions
The fee structure of IUX caught our attention, particularly the commission of $3 per lot per side for the Raw account. Although it may not be the most affordable option, it is undeniably competitive, particularly considering the remarkably narrow spreads.
Overnight Fees
IUX’s policy on overnight fees seems to be quite favorable for traders. Swap-free trading is a noteworthy feature, especially for day traders who can completely avoid these fees by closing positions within the trading day.
Furthermore, IUX publishes all overnight fees spread across all tradable instruments on the official website, allowing traders to accurately calculate the possible swap fees they might face.
Deposit and Withdrawal Fees
We consider the lack of deposit and withdrawal fees a significant advantage. It streamlines the fund management process and enables traders to concentrate on their trading activities without being burdened by additional expenses.
Inactivity Fees
Inactive accounts with a balance under $10 are archived after 30 days of inactivity instead of implementing a fee.
Currency Conversion Fees
Traders should keep in mind the possible currency conversion fees when depositing or withdrawing in currencies other than USD, even though IUX accepts USD as the base currency. The fees may differ based on the payment provider and exchange rates.
What deposit fees does IUX charge?
IUX does not impose deposit fees, so traders may fill their accounts without incurring additional expenditures.
How transparent is IUX’s cost structure?
IUX is quite upfront about its cost system, displaying all applicable fees and levies on its official website.
Deposits and Withdrawals
IUX doesn’t provide extensive information regarding the deposit and withdrawal methods that can be used from the website. Traders can only view the payment types under “Deposits and Withdrawals”, but not comprehensive information.
However, the Help Center proved quite useful in obtaining more information on deposits and withdrawals, and based on this information, we can provide the payment types, currencies, typical processing times, and generalized steps on how to use each payment type.
Deposit Options accepted include Online Bank Transfers, Wire Transfers, Union Pay, and Crypto Pay.
How to make a Deposit
How to Deposit using Bank Wire:
- Log in to your IUX account and browse the “Deposit” area.
- Choose “bank wire” as your desired payment method.
- Follow the on-screen steps to obtain IUX’s bank account information.
Make a wire transfer from your bank account using the reference number issued by IUX.
How to Deposit using Cryptocurrency:
- Log into your IUX account and select “Deposit.”
- Choose the cryptocurrency you want to deposit (such as Bitcoin, Ethereum, etc.).
IUX will provide you with a wallet address. Send your chosen funds to this address.
How to Deposit using e-wallets or Payment Gateways:
- Log in to your IUX account and click “Deposit.”
- Choose your preferred e-wallet or payment gateway from the list of alternatives (for example, Skrill, Neteller).
Enter the deposit amount and follow the on-screen instructions to finish the transaction.
How to make a Withdrawal
How to Withdraw using Bank Wire:
- Log onto your IUX account and go to “Withdrawal.”
- Select “Bank Wire” and enter the amount you want to withdraw.
Provide your bank account information and confirm the withdrawal request.
How to Withdraw using Cryptocurrency:
- Log into your IUX account and select “Withdrawal.”
- Select the coin you want to withdraw and enter the amount.
Please enter your wallet address and confirm the withdrawal.
How to Withdraw using e-wallets or Payment Gateways:
- Log into your IUX account and choose “Withdrawal.”
- Select your e-wallet or payment gateway, then input the withdrawal amount.
Confirm the request.
What is the minimum deposit amount at IUX?
Depending on the account type, IUX requires a minimum deposit of $10.
What withdrawal options are available at IUX?
IUX provides a variety of withdrawal methods, including bank wire, e-wallets, and cryptocurrency withdrawals.
Education, Research, and, Reports
IUX offers traders a few educational materials and research options. From what we could find on the official website, traders can access the following.
In addition, the Following Educational Resources are available:
- IUX Academy
- Glossary
- Trading Calculators
- Currency Converter
- Trending Technical Analysis
- Stock Screener
- Heat Map
IUX does not expressly provide standard trading reports, such as market analysis or trade suggestions. However, they provide traders with full transaction history and account statements via their web platform.
These statements include specific transactions, deposits, withdrawals, and account balances, making them useful for personal performance analysis and tax reporting.
While not standard market reports, this open access to transaction data allows traders to monitor their trading actions and make educated decisions based on their results.
Are there any webinars accessible via IUX?
Yes, IUX often organizes webinars on various trading subjects, methods, and market updates to help traders improve their knowledge and abilities.
What is the IUX Academy?
The IUX Academy is IUX’s educational hub, which provides a variety of learning resources such as articles, tutorials, and trading advice.
IUX vs BDSwiss vs Exness – a Comparison
Customer Support
What is the average response time from IUX live chat support?
IUX live chat support has an average response time of 1 to 3 minutes, allowing traders to get help quickly.
How does IUX deal with difficult queries and complaints?
IUX addresses difficult queries and complaints using a sophisticated review procedure, ensuring traders receive thorough and satisfying remedies.
Our Recommendations on IUX
While IUX has a compelling offer for traders, our review shows that there are a few areas where improvements are necessary, including the following:
- Provide detailed information regarding deposit and withdrawal methods on the website, including options for each area, costs, and processing timeframes.
- Allow traders to customize the app’s UI, chart settings, and news feeds based on their preferences. This improves the user experience and makes the software more adaptive to different trading methods.
- Add social trading options like copy trading or the opportunity to follow and connect with successful traders. This could attract a larger audience and build a feeling of community among IUX users.
Moreover, we recommend that IUX include more currencies that can be used as account-based currencies. This can help traders avoid costly currency conversion fees.
Customer Reviews
? Top Support!
There were a few other companies I tried before I chose IUX. I’ve seen the best customer service in this business. They’re always ready to help and answer questions right away. – Mike Luther
? Pleased.
IUX is a good trading provider. However, I believe their learning tools could be better. I’m pleased with my progress so far. – Susan
? Good Offering.
IUX is a trustworthy broker with a good name. They have a lot of different products, and the trade conditions are good. – Gary. S
IUX Pros and Cons
In Conclusion
According to our opinion, IUX is a broker who balances innovation and prudence. The flexible account types, ranging from the simple Standard account to the complex Pro account, cater to a wide spectrum of traders, and the Islamic account demonstrates its inclusion.
Furthermore, IUX offers competitive trading conditions, transparent fees, and over 250 instruments that can be traded. However, while comprehensive, we noticed limitations in IUX’s offer for traders.
IUX doesn’t accept traders from most countries, including South Africa, even though the broker has an office locally. Furthermore, USD is the only base currency accepted, which means that ZAR, EUR, and other currencies face currency conversion fees on deposits and withdrawals.
Despite these shortcomings, IUX’s transparent pricing structure, instructional tools, and prompt customer service make it an appealing option for traders seeking a technologically advanced and user-centric platform.
Frequently Asked Questions
Is IUX a reputable broker?
Yes, IUX is regulated by the FSCA in South Africa and the FSA in Saint Vincent and the Grenadines, assuring traders’ security.
Can I use Expert Advisors (EAs) with IUX?
Yes, IUX does allow the usage of Expert Advisors on the MetaTrader 5 platform.
Does IUX provide an Islamic account?
Yes, IUX offers an Islamic account that adheres to Sharia law and eliminates swap costs for overnight holdings.
What kind of leverage does IUX provide?
IUX provides a maximum leverage of up to 1:3000, giving traders substantial freedom in managing their holdings.
What are the benefits of the IUX LotBack Programme?
The LotBack Programme rewards traders with points that can be redeemed for cash or incentives, which improves the entire trading experience.
Can I trade on IUX as a US citizen?
No, IUX does not accept clients from the United States owing to regulatory requirements.
Is IUX ideal for scalping?
Yes, IUX’s rapid execution and narrow spreads make it ideal for scalping methods.
What is the minimum deposit required to create an account with IUX?
The minimum deposit varies by account type, starting at $10 for Standard and Standard+ accounts.
