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?
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
Only the MT5 trading platform is available
Overview
A leading algorithmic Forex broker offering a highly competitive core trading environment.
| Headquarters | Saint Vincent and the Grenadines | |
|---|---|---|
| Regulators | MWALI International Services Authority | |
| Tier 1 Regulator(s)? | ||
| Owned by Public Company? | ||
| Year Established | 2016 | |
| Execution Type(s) | Market Maker | |
| Minimum Deposit | $10 | |
| Trading Platforms(s) | MetaTrader 5 | |
| Average Trading Cost EUR/USD | 0.8 pips | |
| Average Trading Cost GBP/USD | 1.0 pips | |
| Average Trading Cost WTI Crude Oil | $0.04 | |
| Average Trading Cost Gold | $0.18 | |
| Average Trading Cost Bitcoin | $158.80 | |
| Retail Loss Rate | Undisclosed | |
| Minimum Raw Spreads | N/A | |
| Minimum Standard Spreads | 0.2 pips | |
| Minimum Commission for Forex | N/A | |
| Funding Methods | 15+(bank wires, credit/debit cards, Skrill, Neteller, cryptocurrencies, and several online banking solutions for its local Asian markets) | |
| Islamic Account | ||
| Signals | ||
| US Persons Accepted? | ||
| Managed Accounts |
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.
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 a registered broker in the Union of the Comoros.
| Country of the Regulator | Comoros | |
|---|---|---|
| Name of the Regulator | MWALI International Services Authority | |
| Regulatory License Number | T2023172 |
Is IUX Markets Legit and Safe?
IUX Markets is regulated in the Union of the Coromos, and is also a 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.
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.
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.
| Average Trading Cost EUR/USD | 0.8 pips | |
|---|---|---|
| Average Trading Cost GBP/USD | 1.0 pips | |
| Average Trading Cost WTI Crude Oil | $0.04 | |
| Average Trading Cost Gold | $0.18 | |
| Average Trading Cost Bitcoin | $158.80 | |
| Minimum Raw Spreads | N/A | |
| Minimum Standard Spreads | 0.2 pips | |
| Minimum Commission for Forex | N/A | |
| Deposit Fee | ||
| Withdrawal Fee | ||
| Inactivity Fee | $0 |
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.
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.
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 |
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 | $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 | 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
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 | ||
|---|---|---|
| Crude Oil | ||
| Gold | ||
| Metals | ||
| Equity Indices | ||
| Stocks (non-CFDs) | ||
| ETFs | ||
| Futures | ||
| Synthetics |
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
The maximum IUX Markets leverage for Forex traders is 1:3000 in the commission-free account and 1:1000 in the bonus alternative, but it is asset-dependent and can decrease. IUX Markets provides traders with a 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 |
|---|---|---|
| Commodities | Sunday 23:01 | Friday 21:55 |
| Crude Oil | Sunday 23:01 | Friday 21:55 |
| Gold | Sunday 23:00 | Friday 21:59 |
| Metals | Sunday 23:00 | Friday 21:59 |
| Equity Indices | 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 one commission-free account and a dedicated bonus account. The minimum deposit of $10 ensures maximum availability. The commission-free account shows lower trading costs on paper compared to many other ECN accounts offered in the industry. It allows traders to manage portfolios with low costs, low latency, fast order execution, and minimal slippage.
IUX Markets offer traders the below two account types, catering to varying trading needs:
- Standard Account
- Standard Bonus Account
While many trading conditions are equally competitive, each IUX trading account provides select advantages, which depend on individual trading styles and the requirements of clients.
Here is a snapshot of the IUX account types:
Standard Account
- Low spreads from 0.2 pips
- Maximum leverage of 1:3000
- Swap-free trading
- Minimum deposit of $10 or a currency equivalent
- Minimum trade size of 0.1 pips
- Automatic stop-out level of 0%
- Traders may claim a $30 bonus once for a minimum deposit of $20
Standard Bonus Account
- Low to average spreads from 0.5 pips
- Maximum leverage of 1:1000
- Swap-free trading
- Minimum deposit of $10 or a currency equivalent
- Minimum trade size of 0.1 pips
- Automatic stop-out level of 35%
- Traders may claim a $30 bonus once for a minimum deposit of $20
- Deposit bonuses of 35% and 25% up to $3,300
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.
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
| MT4 | ||
|---|---|---|
| MT5 | ||
| cTrader | ||
| Proprietary Platform | ||
| Automated Trading | ||
| Guaranteed Stop Loss | ||
| Scalping | ||
| Hedging | ||
| OCO Orders | ||
| Interest on Margin |
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 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
| Customer Support Methods |  | |
|---|---|---|
| Support Hours | 24/7 | |
| Website Languages |
|
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.
Customer support is available via e-mail. Clients may reach a customer support representative 24/7, where IUX Markets has Thai and English support. Traders may can also access the broker through Facebook or Instagram where IUX Markets publishes content relevant to the brokerage and trading environment.
Bonuses and Promotions
IUX Markets notes a $30 bonus on its home page, and traders may claim it once for a minimum deposit of $20. A deposit bonus of 35% and 25% up to $3,300 also exists. IUX Markets 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.
Active traders can earn cashback rebates, as IUX Markets rewards trading activity via a three-tier program. Each traded lot results in points, where 1 Point equals $1 Credit or $0.5 cash. For example, if a trader has 100 Points, they can exchange them for $100 in trading
credits or $50 in real money.
The reward status increases with trade volume.
Here is an overview of the status upgrades:
- After 30 cumulative trading days, traders get upgraded from Rising Star to Champion
- After 60 cumulative trading days, traders get upgraded from Champion to Elite
Here are the point rewards traders can earn per lot per status level:
- Rising Star traders earn 0.3 points per 1.0 lot in the Standard and Standard Bonus accounts
- Champion traders earn 0.5 points per 1.0 lot in the Standard and Standard Bonus accounts
- Elite traders earn 0.8 points per 1.0 lot in 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 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 $10 for the standard account.
Payment Methods
IUX Markets accepts bank wires, credit/debit cards, Skrill, Neteller, cryptocurrencies, and several online banking solutions for its local Asian markets.
| Withdrawal options | ||
|---|---|---|
| Deposit options |
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.
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?
What is the minimum deposit at IUX Markets?
Does IUX Markets offer a no deposit bonus?
Is IUX Markets a scam or legit?
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