IQX Trade Group LLC, abbreviated as IQX Trade, is an online financial company that offers diversified trading services in currencies, commodities, stock indices, stock CFDs, cryptocurrencies, and more. Although the registration information is not detailed, the platform provides Standard Accounts, ECN Accounts, and Swap-Free Accounts with a minimum deposit of $100 to start trading, enjoying leverage of up to 1:500 and low spreads from 0.1 pips. Operated on MetaTrader 5, it offers demo accounts for practice and customer support via phone and email. Official website: https://iqxtrade.net.
IQX Trade's Corporate Entity and Regulatory Information:
IQX Trade's domain was registered on May 25, 2023. IQX Trade claims to be registered with the Financial Services Authority (FSA) in Saint Vincent and the Grenadines with registration number 579 LLC 2020, but details of its corporate registration are difficult to verify. Although the company claims to have office addresses in the UK, Thailand, the Philippines, Vietnam, and Colombia, there is no tangible information about its physical enterprises. This lack of transparency could trigger doubts regarding the legality and reliability of its business, posing a significant risk signal for potential investors.
How to Open an Account with IQX Trade?
The steps to open an account with IQX Trade are simplified as follows:
- Register an Account: Visit the IQX Trade website and click the “Register” or “Login” button. Complete the registration form, agree to the terms, and submit to start the account creation process.
- Verify the Account: Check your email for a verification link or code, and use it to complete account verification.
- Deposit Funds: Log into your account. Go to the “Deposit” section, choose a deposit method. Enter the amount and complete the deposit process as instructed.
Types of Accounts at IQX Trade:
IQX Trade offers three types of accounts to meet the needs of different traders:
Standard Account:
Minimum Deposit: $100
Spread: From 1.4 pips
Leverage: 1:500
Commission: None
Swap support: Yes
Account Currency: USD
ECN Account:
Minimum Deposit: $500
Spread: From 0.1 pips
Leverage: 1:500
Commission: $6 per lot
Swap support: Yes
Account Currency: USD
Swap-Free Account:
Minimum Deposit: $5,000
Spread: From 1.4 pips
Leverage: 1:500
Commission: None
Swap support: No
Account Currency: USD
Market Instruments at IQX Trade:
IQX Trade offers a variety of trading products, but these opportunities come with significant risks:
- Forex: Although you can leverage up to 1:1000 to trade major and minor currency pairs, this high leverage can lead to significant losses.
- Commodities: Access to commodities such as precious metals, energy, and agricultural products is available with low spreads and high leverage, but price fluctuations can quickly amplify losses.
- Stock Indices: Investing in global stock market indices sounds appealing, but even minor fluctuations can result in significant losses due to leverage of up to 1:200.
- Stock CFDs: While zero commissions and 1:20 leverage make trading convenient, CFDs’ volatility increases the risk of losses.
- Cryptocurrencies: The instability of the crypto market, combined with leverage up to 1:1000, can lead to substantial losses in a short time.
In summary, while IQX Trade provides a variety of trading opportunities, the risks associated with high leverage trading should not be overlooked, and investors should proceed with caution.
Trading Platform at IQX Trade:
IQX Trade delivers an advanced multi-asset trading experience through its MetaTrader 5 (MT5) platform. MT5 is favored for its flexibility, powerful technical analysis tools, and support for automated trading. It enables the trading of forex, stock CFDs, and futures, equipped with real-time market quotes and multiple order execution modes, making market tracking and responses more convenient. The MT5 user interface is both user-friendly and customizable to cater to various traders' needs.
Customer Support at IQX Trade:
IQX Trade can be contacted through the following means:
- Asian Customer Support: +66991816627
- European Customer Support: +4420378827312
- Email: support@iqxtrade.com
Conclusion:
In conclusion, the lack of transparency and high leverage risks associated with IQX Trade might pose significant concerns for investors, especially in the absence of clear regulatory and corporate details. Potential users should consider these factors carefully before investing. Currently, IQX Trade is labeled as "Fraud Suspicion" on TraderKnows.
