Editor’s Verdict

IUX Markets offers competitive trading costs through the MT5 platform and advertises swap-free trading. It established itself as a leading algorithmic Forex broker, where algos account for 60% of all trades. Low latency order execution with average times below 30 milliseconds and high leverage makes it an ideal choice for scalpers and high-frequency traders. I conducted an in-depth review of this broker to evaluate the competitiveness of its trading environment. Should you trade at IUX Markets?

bage-icon
Overall
star-icon star-icon star-icon star-icon star-icon
Fees
star-icon star-icon star-icon star-icon star-icon
Deposit and withdrawal
star-icon star-icon star-icon star-icon star-icon
Asset selection
star-icon star-icon star-icon star-icon star-icon
Ease of account opening
star-icon star-icon star-icon star-icon star-icon
Regulation and security
star-icon star-icon star-icon star-icon star-icon

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

Overview

A leading algorithmic Forex broker offering a highly competitive core trading environment.

HeadquartersSaint Vincent and the Grenadines
RegulatedUnregulated
Year Established2016
Execution TypeECN/STP, Market Maker
Minimum Deposit$3
Trading Platforms(s)MetaTrader 5
Signals
US Persons Accepted?
Islamic Account
Segregated Account
Managed Accounts
Support Hours24/7
Customer Supportemail-support
Demo Account
Retail Loss RateUndisclosed
Minimum Raw Spreads0.0 pips
Minimum Standard Spreads0.2 pips
Minimum Commission for Forex$3.50 per 1.0 standard round lot
Commission for CFDs/DMAUndisclosed
Cashback RebatesYes
Deposit FeeThird-Party
Withdrawal FeeThird-Party
Funding Methods15+(bank wires, credit/debit cards, Skrill, Neteller, cryptocurrencies, and several online banking solutions for its local Asian markets)

I like the trading costs, execution speed, deep liquidity, and high maximum leverage at IUX Markets. They combine for a highly competitive core trading environment, but I note the absence of MT4. I also appreciate the swift withdrawal process and choice of payment processors and methods, including cryptocurrencies.

Retail Loss Rate
Undisclosed
Regulation
No
Minimum ECN Spreads
0.0 pips
Minimum Standard Spreads
0.2 pips
Minimum Commission for Forex
$3.50 per 1.0 standard round lot
Commission for CFDs / DMA
Undisclosed
Cashback Rebates
Yes
Minimum Deposit
$3
Inactivity Fee
$0
Deposit Fee
Third-Party
Withdrawal Fee
Third-Party
Funding Methods
15+

IUX Markets Regulation & Security

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. IUX Markets operates as an unregulated but duly registered international business company.

Country of the Regulator
Name of the Regulator
Regulatory License Number
St. Vincent and the Grenadines
Financial Services Authority
Unregulated

Is IUX Markets Legit and Safe?

IUX Markets is an unregulated but duly registered Forex broker in St. Vincent and the Grenadines. It is registered as an international business company (IBC), company registration number 26183, with the financial regulator, the Financial Services Authority (FSA), which doubles as the business registrar, but does not regulate Forex brokers.

Operational since 2016, IUX Markets amassed 180,000+ traders and has a clean track record. While St. Vincent and the Grenadines Forex brokers pose an exception to the regulated rule, I would like to see IUX Markets taking the additional step of ensuring client protection. It should offer third-party insurance protecting client deposits in case of default or obtain membership with the Hong Kong-based Financial Commission, delivering protection in line with Tier 1 regulators.

IUX Markets notes registration with the US National Futures Association (NFA) but is not an NFA member. Therefore, the NFA does not regulate its business activities, as confirmed by IUX Markets not accepting US-based traders.

IUX Markets IBC Registration

IUX Markets NFA Registration

Fees

I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. IUX Markets offers traders one of the most competitive commission-free and commission-based pricing environments I have encountered. It presents one of the most significant advantages at IUX Markets.

Deposit FeeThird-Party
Withdrawal FeeThird-Party
Commissions/SpreadsBoth
Withdrawal options
  • :
  • Deposit options
  • :
  • Deposit Fee
    Third-Party
    Withdrawal Fee
    Third-Party
    Inactivity Fee
    $0
    Commissions / Spreads
    $3.50 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

    The commission-free pricing environment at IUX Markets shows minimum spreads between 0.2 pips and 0.5 pips or $2.00 to $5.00 per standard round lot, with the average around $5.00 or $1.00 cheaper versus many competitive offers. IUX Markets offers a commission-based alternative with access to raw spreads of 0.0 pips for a commission of $3.50 per round lot, which is between 42% to 50% lower than most other brokers.

    Here is a screenshot of IUX Markets quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.

    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
    $3.50
    $6.50

    One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

    Noteworthy:

    • All traders may qualify for swap-free trading, not just Islamic ones, at the discretion of the company, which maintains highly competitive swaps for traders who do not receive a swap-free account
    • IUX Markets offers positive swap rates on qualifying short positions, where traders get paid money to hold trades overnight

    MT5 traders can access swap rates from their platform by following these steps:

    1. Right-click on the desired symbol in the Market Watch window and select Specification.

    2. Scroll down until you see Swap Long and Swap Short.

    Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free account.

    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 one night will cost the following:

    Average Spread
    Commission per Round Lot
    Swap Long
    Swap Short
    Total TradingCosts
    0.3 pips
    $3.50
    -$3.6919
    X
    $10.1919
    0.3 pips
    $3.50
    X
    $1.1731
    $5.3269

    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
    Commission per Round Lot
    Swap Long
    Swap Short
    Total TradingCosts
    0.3 pips
    $3.50
    -$25.8433
    X
    $32.3433
    0.3 pips
    $3.50
    X
    $8.2117
    -$1.7117

    Noteworthy:

    • After seven days, including weekends, traders would earn money for holding a short position in the EUR/USD and other select assets, assuming no movement in price action, which is unlikely, but the example shows the competitive pricing at IUX Markets

    Range of Assets

    IUX Markets is primarily a Forex broker, in which asset class traders get the best market coverage. It added a few cryptocurrency pairs and offers a selection of liquid blue-chip stocks. Traders can also trade indices, commodities, and bonds. With 250+ trading instruments, IUX Markets serves retail traders with a sufficiently wide selection of assets, while high-frequency traders and scalpers benefit from the liquidity-focused approach at IUX Markets.

    Commodities
    Metals:
    Indices
    Stocks
    CFDs
    Oil
    Gold
    ETFs

    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
    1:2000
    Maximum Pro Leverage
    1:1000

    IUX Markets Leverage

    The maximum IUX Markets leverage for Forex traders is 1:2000 in the commission-free account and 1:1000 in the ECN alternative, but it is asset-dependent and can decrease. IUX Markets provides traders with a generous and high leverage offer. Negative balance protection exists, meaning traders cannot lose more than their 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

    Noteworthy:

    • Equity markets open and close each trading session, unlike Forex and commodities, which essentially trade 24/5
    • IUX Markets does offer 24/7 cryptocurrency trading

    I recommend the following step for MT5 traders to access trading hours:

    1. Right-click on the desired symbol in the Market Watch window and select Specification.

    2. Scroll down until you see Sessions.

    Account Types

    IUX Markets features three commission-free account, one commission-based account, a dedicated bonus account, and a cent account for beginners and strategy testers. The minimum deposit of $3 ensures maximum availability, and the $200 for the ECN option remains acceptable. The commission-free account shows lower trading costs on paper, but the ECN account delivers cheaper fees in live market conditions considering average spreads. Either choice ensures that traders manage portfolios with ultra-low costs, low latency, fast order execution, and minimal slippage.

    IUX Markets Demo Account

    IUX Markets offers demo accounts, ideal for testing strategies and algorithmic trading solutions, without any time limits. Since MT5 is available, I recommend opening a demo account from within that trading platform.

    I recommend a demo account balance is selected similar to the amount of planned live deposit. I also want to caution beginner traders against using a demo account as a full simulation of real trading. It creates unrealistic trading expectations, and the absence of real skin in the game makes it a very different experience for most.

    IUX Markets Account Types

    Trading Platforms

    IUX Markets offers traders the out-of-the-box MT5 trading platform, which supports automated trading and has an integrated copy trading service. It lacks the versatility of MT4, and IUX Markets does not provide any of the better third-party plug-ins. MT5 is available as a desktop client, required for algorithmic trading, a lightweight, web-based alternative, and a mobile app.

    Overview of Trading Platforms

    Platform Languages
      • English
  • OS Compatibility
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Charting Package
    Scalping
    Hedging
    Mobile Alerts
    E-mail Alerts
    Guaranteed Limit Orders
    Guaranteed Execution
    One-click Execution
    OCO Orders
    Interest on Margin
    Web-based Trading
    Mobile Trading
    MT4
    MT5
    cTrader
    Proprietary Platform
    Automated Trading
    Guaranteed Stop Loss

    Unique Features

    IUX Markets is an execution-only broker and delivers well in this category. I want to highlight the 25+ liquidity providers, fast order execution of below 30 milliseconds with 40+ orders executed per minute, low latency, and minimal slippage. More than 60% of all trades at IUX Markets are algorithmic and collocated VPS hosting exists for 24/7 market access at its trading hub in New York at the STORMIC LD4 data center.

    Research & Education

    As an execution-only broker, IUX Markets neither publishes in-house research nor sources third-party research. While it creates a services gap versus well-rounded brokers, given the availability of free and paid-for solutions online, I do not consider this a meaningful negative. IUX Markets focuses on core trading execution and low costs, where it delivers a competitive environment.

    IUX Markets does not offer educational resources for beginner traders. The same earlier commentary about education applies as above about research.

    Customer Support

    Support Hours24/7
    Customer Supportemail-support
    Website Languages
      • English
      • Other
      • Chinese
      • Malay
      • Thai
      • Bahasa
  • IUX Markets notes 24/7 customer support, but only e-mail assistance exists. The live chat button redirects to the FAQ section, where IUX Markets attempts to answer most questions. Regrettably, a phone number and phone support are missing. The absence of a direct line to the finance department, where most issues arise, is a shame.

    IUX Markets Customer Support

    Bonuses and Promotions

    IUX Markets notes a $30 bonus on its home page, alongside a 35% deposit bonus. It also maintains a dedicated account, where spreads are higher. IUX Markets lists the terms and conditions on its website, and I urge traders to read and understand them before accepting any bonus, to avoid confusion.

    Awards

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

    Opening an Account

    The online application takes less than 20 seconds, where IUX Markets asks for the country of residence, name, e-mail, and desired password. E-mail verification is mandatory to complete the registration process. I like that IUX Markets does not collect unnecessary data.

    Account verification remains a necessary final step, usually satisfied by sending a copy of your ID and one proof of residency document.

    Minimum Deposit

    The minimum deposit at IUX Markets is $3 for the standard account and $200 for the ECN account.

    Payment Methods

    IUX Markets accepts bank wires, credit/debit cards, Skrill, Neteller, cryptocurrencies, and several online banking solutions for its local Asian markets.

    Accepted Countries

    Traders resident in most countries can open accounts at IUX Markets. The most notable exceptions are Australia, Belgium, France, Iran, North Korea, Japan, and the United States.

    IUX Markets Account Opening

    Deposits and Withdrawals

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

    IUX Markets does not charge internal deposit or withdrawal fees, but third-party charges may apply. The processing times for deposits range from instant to 20 minutes, depending on the payment processor, except for bank wires. The same applies to withdrawals, and IUX Markets notes that it handles most within five to ten minutes after receiving a request.

    I like the inclusion of cryptocurrencies within the offering, since IUX Markets serves core Asian markets with strong demand for cryptocurrency transactions. The local online banking solutions provide its primary trader base with a trusted alternative. Traders may open accounts denominated in USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD as their base currencies.

    Is IUX Markets a good broker?

    I like the trading environment at IUX Markets for high-frequency traders, scalpers, and algorithmic traders, which account for 60%+ of daily transactions. IUX Markets is an execution-only broker and provides its core traders with a highly competitive trading environment. The low trading costs remain the most notable advantage at IUX Markets, where it maintains fees up to 50% cheaper than most competitors. Deep liquidity, provided by 25+ liquidity providers, fast order execution, low latency, and minimal slippage adds to the competitiveness for demanding traders IUX Markets ensures.

    FAQs

    Does IUX Markets offer mobile trading?

    expand.png
    Mobile trading is available via the MT5 mobile app.

    What is the minimum deposit at IUX Markets?

    expand.png
    The IUX Markets minimum deposit is $3 for the standard account and $200 for the ECN alternative.

    Does IUX Markets offer a no deposit bonus?

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

    Is IUX Markets a scam or legit?

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

    About the Author

    DailyForex.com Team
    The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.