IUX Markets: Gray Zone License Doesn’t Mean Safety

IUX Markets is an offshore broker licensed in the Comoros Islands. The firm address is supposedly Cyprus, but you won’t find it in the maps. Additionally, they’re also registered in SVG, a well-known zone of high-risk investing.

While they may provide several attractive features and trading conditions, risks do exist. Our IUX Markets review examines them all and gives an educated conclusion to the question about investing here or not. 

What’s IUX Markets Legal Status?

At first glance all neat and legal, IUX Markets comes off as trustworthy. But we have to discuss the specifics of their regulations. The MWALI license stands and you can find the broker on the list of Tier 3 offshore regulated entities: https://mwaliregistrar.com/list_of_entities/authorised_trust_companies. Trusting a Tier 3 loose regulation to keep your funds secure is the same like throwing it down the drain.

The broker is also registered in SVG, with their jurisdictional authority – SVGFSA, because they do appear among registered entities in this register: https://svgfsa.com/company-name-search/. What you should know about this regulator is that they do not supervise brokers at all!

Lastly, IUX is in the NFA database, but not as a regulated entity. On top of that, they do not have a Tier 1 license by any leading authority, such as FCA, ASIC, BaFin, CONSOB and FINMA.

That leads us to conclude that they apparently do not provide the highest security standards. Funds aren’t deposited in separate bank accounts, negative protection doesn’t prevent you from losing more than invested and compensation funds won’t reimburse you in case of dispute! Not a big difference compared to blacklisted brokers like PremiumerPro.co.

Where Do IUX Markets Users Come From?

The user statistics show that IUX Markets is focused in particular parts of Asian continent. The majority of their clientele originates from the following countries:

• Thailand 
• Laos
• Indonesia
• Malaysia
• Vietnam

It is understandable that in some sense IUX Markets represents an attractive offer. Their offshore regulation leaves space for increased leverage. 

Bonuses, which are banned in the EEA and UK are available with most offshore brokers. Also, IUX Markets advertises amiable trading conditions that make you seriously consider becoming their client. 

All the shiny details aside, we’d like to remind you that gray zone regulations do not even come close to the strictest ones, designed to provide you the safety you deserve. So think twice before investing with offshore firms.

What Do The Traders Say?

Suspiciously high ratings on TrustPilot made us all the more interested in what dissatisfied users have to say. As reliable as TrustPilot is, there’s always a possibility for less known and not so trustworthy broker houses to use paid reviews. 

But issues with IUX Markets do exist, and seems they all pertain to lack of transparency and withdrawal issues:

“Reject my withdraw with reason i use same ip as “other” even though the ip address provide in the email not same as my ip address.”

“deposit was straight no issue but withdrawal was otherwise. Since that was my major trading account and I had some important questions about my account & inability to withdraw, so I contacted support team and nothing was done, money lost.”

General Costs and Taxes

We’ve already mentioned some of the major reasons why IUX Markets may seem more attractive to traders who are able to take up greater risks. Maximum leverage available with IUX Markets is frightening 1:3000. 

Also, the broker claims the highest trading commission is only $3.5, while the spreads could start as low as 0 pips for some account types. Another fee present is the withdrawal fee, but IUX Markets isn’t transparent about its amount.

IUX Markets Offers Deposit Bonus

Just to clear any confusion, bonus sums are banned as a concept by the UK and EEA regulators, due to brokers abusing the bonus clauses.  

After opening an account with the broker and investing at least $20, you immediately get credited with another $30. Depending on your investment, you can get a bigger bonus, up to $3,000.

If the bonus is not used, it will disappear within 30 days and it’s not eligible for withdrawals. 

Key Features IUX Markets Provides

Users signing up with IUX Markets can choose between several distinctive account types. The deposit to start off with can be as low as $10. Several instrument classes can be bought and sold on a reliable MT5 platform.

IUX Markets Trading Terminal

Probably the only benefit of trading with IUX Markets is the fact that they provide the glorious MT5. Without competition, this software has been ruling the online trading world and will continue to do so in the future. 

Thanks to its reliability, speed, and richness in features, MetaQuotes programs allow you flexibility, customization and advanced analysis. 

Financial Products Available

IUX Markets advertises several groups of tradable assets available for buying and selling under the previously discussed conditions:

• Forex (EUR/USD, EUR/CHF, USD/GBP, USD/JPY)
• Metals and Energies (Silver, Gold, Crude Oil)
• Indexes (DE30, FR40, HK50, AUS200, S&P500)
• Stocks (Alibaba, Amazon, Boeing, Bank of America, Tesla)
• Crypto (BNB, BTC, DOT, ADA, LTC, SNX, SOL)

Several Account Types Offered

As the IUX Markets website suggests, there’s several types of available packages. Each has some features that come with certain costs. The leverage is up to 1:3000, spreads from 0 pips for the Raw account and the alleged commissions as low as $3.5 per trade. Here’s the cost of each account type:

• Standard – $10
• Standard Plus – $10
• RAW – $1,000
• PRO – $1,000

Mobile Trading App

Investors today are faced with the severe lack of time they’re able to dedicate to online trading. Being always on the run, it’s most convenient for all to be able to trade on mobile devices. MT5 has a customized app available for Android and iPhone and IUX Markets enables it. 

Demo Account

Trial trading with risk-free price-speculation is a feature at IUX Markets. After signing up for an account, you can get the valid credentials for logging into your Demo account. There you get a free margin of $1,000 to test-trade. Considering that other brokers provide a far higher virtual margin, we consider this offer to be insufficient. 

IUX Markets Withdrawal Risks

Although their trading environment may be attractive, the traders are still reporting potential withdrawal issues. As described previously in this IUX Markets review, there’s problems with the denied payouts. 

This is where the offshore license doesn’t prove as good enough in protecting your interests as an investor. Tier 3 licenses simply do not implement the insurance standards and do not enable investors to process the payments safely and securely. 

Contacting The IUX Markets Support

Several options are provided as communication channels at IUX Markets:

• Live chat at the website
• Email address: [email protected]
• Phone number: +35725567778

Additionally, you can use the social apps to get in touch with the support staff. By that we mean Facebook Messenger, Telegram and Line. 

Beware though, these apps are often used by untrustworthy companies wishing to manipulate your investments and establish third-party control over your machine.  

Several Things To Remember

This IUX Markets review was designed with the idea to meticulously present you all the elements of their offer, but also point out the risks. Investing with offshore brokers is never recommended. There’s a reason these companies obtain Tier 3 licenses instead of the premium ones like FXTM does. Loose regulations allow financial anonymity and potential misuse of funds. 

If you consider your funds to be in danger, retrieve them immediately. In case IUX Markets isn’t allowing you to do that, we can help you with our legal team of chargeback experts.

FAQ Section