Iqinex is a CFD broker with an official website domain registered on January 24, 2024. The broker primarily offers investment services in markets including forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not provide services to countries or regions where it might violate local laws or regulations.
Corporate Registration Information and Regulatory Status
According to public information on the Iqinex (iqinex.live) official website, the broker has obtained a commercial license in the United States, allowing it to conduct business activities both within and outside the U.S. Additionally, the broker claims to be regulated by the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Upon investigation, regulatory bodies such as the Financial Industry Regulatory Authority (FINRA), the U.S. Securities and Exchange Commission (SEC), the National Futures Association (NFA), the Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC) have all found no records of a regulated company named "Iqinex".
Therefore, Iqinex (iqinex.live) is essentially a fraudulent broker website with no regulatory oversight or corporate entity.
Account Opening Process
To open a trading account with Iqinex: Visit the broker's official website, click on “Open Account” on the homepage or “SIGN UP” at the top right corner to enter the account registration page. Fill in personal information like your name and email, set a login password, and submit the form. Complete the verification process to successfully register an account.
Trading Instruments
Iqinex offers a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, enabling traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of an entire market or specific sector without trading individual stocks. Exploring popular indices can reveal diverse trading opportunities with high leverage potential.
- Commodities: Commodity trading covers crucial global market resources, allowing traders to buy and sell a variety of raw materials, including metals, energy, and agricultural products.
- Stocks: Stock trading enables investors to participate in public companies' share price fluctuations, earning profits based on company performance and dividends without actually holding shares.
- Cryptocurrencies: Cryptocurrency trading offers opportunities for digital currency enthusiasts to profit from high-volatility assets.
Investment Plans
Iqinex provides four different types of investment plans: Basic account, Classic account, Platinum account, and Forex Signal Subscription.
Basic account:
- Minimum deposit: $500
- Minimum expected profit: $4,500
- Maximum expected profit: $5,000
- Trader education*
- Risk management
- Tax-free spread trading profits
Classic account:
- Minimum deposit: $5,000
- Minimum expected profit: $45,000
- Maximum expected profit: $50,000
- Expert news and analysis
- Competitive spreads
- Advanced trading tools
- Tax-free spread trading profits
Platinum account:
- Minimum deposit: $10,000
- Minimum expected profit: $99,999
- Full benefits package
- Trader education*
- Advanced risk management
- Tax-free spread trading profits
Forex Signal Subscription:
- Professional forex signals
- Up to 10 signals daily
- 95% success rate
- 24/7 support
- Advanced trading tools
- Bitcoin payments only
- Use with any broker
Trading Platform
Iqinex claims to offer the MT4 trading platform, providing deep liquidity, leverage up to 1:500, and industry-best spreads. However, a check of the MT4 trading platform reveals no broker named Iqinex.
Deposits and Withdrawals
Iqinex advertises on its homepage that it supports deposits and withdrawals via debit card, wire transfer, e-check, or check deposit. However, its "FAQ" page states it does not offer multiple deposit methods, including credit/debit cards and bank transfers, and only supports cryptocurrency transactions.
Conclusion
Investopedia reminds investors that Iqinex is a scam broker luring investors with promises of high returns, without any corporate entity or regulatory oversight. Investors are advised to choose brokers that are transparent, well-regulated, and reputable to avoid unnecessary financial losses.
Currently, this broker is marked as a "Pig Butchering Scam" on Investopedia.
