IUX Broker: Interesting Low Spread Forex Broker

Trading is gaining traction, and the forex trading market is more competitive than ever. While many traders may already have chosen their broker, there’s a new wave of brokers worth considering. This forex trading broker review is focused on the IUX review, providing a definition and features of IUX brokers.

Moreover, understanding all sections of our review, such as account types, products, platform used, promotion, and benefits, helps traders trade with IUX brokers more effectively.

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IUX Broker: Overview

IUX broker is a fast-growing broker located in the UK and Cyprus. Since they operate in Cyprus, they can gain a reputation as there is a strong financial industry in this area. 

IUX started in 2016 and gives new customers great bonuses. You can get a $30 welcome bonus and an extra 35% up to $300 on your first deposit. For starting investment, you only need $10 to get started.

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Regulation and Registration

IUX broker is a licensed broker specializing in international CFDs trading. The company is officially authorized by the Financial Services Authority in Saint Vincent and the Grenadines (SVGFSA), with license number 26183 BC 2021. Additionally, the company is registered with the Financial Sector Conduct Authority (FSCA) in South Africa, which oversees financial institutions’ compliance with laws and regulations, under license number 53103.

Furthermore, the company holds a license from the Mauritius Financial Services Commission (FSC Mauritius), with license number GB22200605. This regulatory body ensures the integrity and stability of the financial services sector in Mauritius.

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Account Types of IUX Broker

IUX provides four different account options for traders, including Standard, Standard+, Raw, and Pro accounts.

Standard Account

The Standard account at IUX comes with extremely low spreads, making it an attractive option for traders. The average spread is just 0.2 pips, with no extra swap or trading fees. This account offers quick trade execution in a highly liquid market and provides leverage up to 1:3000. It’s ideal for short-term and long-term traders and experienced advisors.

Standard+ Account

The Standard+ account is another solid choice. It offers spreads from 0.5 pips and zero commission fees. You can start with just $10 and leverage up to 1:1000. This account is perfect if you want a mix of low cost and good performance.

Raw Account

If you would like to have more control, the Raw account is right for you. It offers the lowest spreads, starting at 0.0 pips. However, there’s a $3 commission fee per side. You’ll need $500 to start, and you can leverage up to 1:3000. It’s ideal for experienced traders.

Pro Account

The Pro account offers spreads from just 0.1 pips and no commission fees. You’ll need $500 to get started and can leverage up to 1:3000. This account is designed for serious traders who want the best conditions.

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Deposit and Withdrawal

IUX broker has expanded its financial transaction options, now providing various methods for depositing and withdrawing funds, including QR codes, Neteller, Skrill, cryptocurrency, and local bank transfers. Moreover, IUX broker provides a very quick deposit and withdrawal, compared to other brokers. The amount you withdraw could show on the trading account within a minute, which means that they promise to offer the best convenience to the customers.

Moreover, the platform offers a wide range of top payment options to facilitate easy deposits and withdrawals. These options include popular methods which are following:

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Products in IUX Broker

Since IUX provides various trading options in the foreign exchange market, you can trade the following instruments:

• 40 Currency Pairs
• 15 Crypto
• 65 Stock
• 10 Index
• 8 Metal & energy

IUX offered CFD products, allowing traders to use leverage across various markets to trade bullish and bearish trends. This approach is advantageous for small traders, offering them flexibility in the market. 

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Trading Platform of IUX Broker

MetaTrader 5 is a key platform for trading with IUX. It’s the most popular choice among their platforms, promising both efficiency and affordability. Moreover, IUX offers additional platforms, including the IUX App Trade, IUX Web Trade, and MetaTrader5 WebTerminal, providing traders with various trading alternatives.

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The Benefits of MetaTrader 5

It’s well-known that MetaTrader 5 (MT5) is becoming a big deal in the trading world. Many see MT5 as the most useful platform for individual traders.

Here are some key features that make MetaTrader 5 stand out from others:

• Live pricing and detailed history
• Customizable charts and sound alerts
• Free news and trader chat
• Compatible with many brokers
• Multiple order types and indicators
• Flexible time frames and account management
• Advanced features like hedging and no FIFO rule
• Integrated financial tools and special edition options

MT5 allows traders to go beyond basic tools by using MQL5, an easy programming language. New traders can also create automated trading programs, known as Expert Advisors or EA. These programs can carry out a variety of trading strategies on their own.

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Fees of IUX Broker

IUX broker has a fee structure that varies based on the type of account you choose. For example, the Standard, Standard+, and Pro accounts don’t have any commission fees for trading. On the other hand, the Raw account charges a commission of $3 for each lot traded. However, the Raw account offers a competitive spread starting at 0.0 pips.

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IUX Promotions

While IUX broker is popular among low-spread brokers, it provides a promotion bonus for traders. It is helpful when traders deposit for a minimum amount, and they will get an extra bonus.

$30 Welcome Bonus

The welcome bonus offered by the platform provides several benefits for new users. Firstly, no deposit is required, allowing you to begin trading risk-free. Upon signing up, $30 is automatically credited to your account, providing an excellent beginning. Additionally, you can withdraw up to $150 in profits earned from trading.

35% Deposit Bonus

The platform offers a two-tier deposit bonus for users with a Standard+ account, providing an opportunity to earn up to $3,300 in bonuses. Initially, you can receive a 35% bonus up to $300 when you open a Standard+ account, giving your trading funds an immediate boost with every deposit. Once you’ve utilized this first bonus option, you can unlock an additional 25% bonus up to $3,000 to continue enhancing your trading funds with subsequent deposits. 

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How to Trade on IUX

Here are 7 simple steps to trade on IUX:

1. Log in or create a new account with the IUX website

2. Fill out the required information form.

3. Complete the email verification process to be directed to a page.

4. Make sure to confirm your email before you can use your account.

5. Go back to the homepage and sign in. After that, you can choose the type of account you’d like to set up.

6. Enter your investment specifics. This is where you can set your trading leverage and passwords.

7. You’re all set to start trading.

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Customer Support

• Email: [email protected]
• Live Chat: Available 24/7 access through the left button on the website

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Pros & Cons

Pros Explained

• The trading platform offers low spreads, which means the cost difference between the buying and selling price is minimal. However, there are no swap fees, making it cost-effective for traders.
• You can make deposits and withdrawals quickly without worrying about extra charges. This is a big advantage for those who need to move money in and out frequently.
• New traders are greeted with a welcome bonus, providing an immediate boost to their trading capital. This is a great way to start your trading journey with extra funds.
• The platform offers 24/7 live chat support, ensuring that help is always available.
• Depending on the account type, you can leverage your trades up to 1:1000 or even 1:3000. This allows for greater trading potential but also comes with higher risks.
• The service exclusively uses the MetaTrader5 (MT5) platform, a popular and versatile trading software that provides various tools and features to enhance your trading experience.

Cons Explained

• IUX broker doesn’t invest much in advertising. This could mean lower operational costs, which might be passed on to the traders through better trading conditions.
• The platform doesn’t support micro or cent accounts, which are often used by beginners or those with limited capital. This suggests that the platform is popular among experienced or well-funded traders.

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Is IUX Broker Worth Considering?

IUX is a popular forex trading broker known for its low spreads and robust trading platforms, making it a compelling choice for traders seeking a reliable and efficient broker. The platform, accessible via computer or mobile, operates on the popular MetaTrader 5 software. It offers a range of account types to cater to various trading needs. Additionally, new traders can benefit from generous bonuses, such as a welcome bonus, making IUX an attractive option for both new and experienced traders. However, it’s important to note that trading always comes with risks, so make sure to weigh the features of IUX carefully before diving in. 

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FAQs

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