IUX Markets is a CFD broker that was allegedly established in Saint Vincent and the Grenadines in 2016, although company records suggest it was registered in 2021. The company's headquarters are in Limassol, Cyprus, with a branch in Kuwait. It offers CFD trading services for indices, futures, energy, precious metals, and more. The broker's official website is https://www.iuxmarkets.com/ and it supports languages including English, Simplified Chinese, Malay, and Thai.
Company Background:
IUX Markets claims to have been established in Saint Vincent and the Grenadines in 2016 under the name IUX Markets Limited, with a company number of 26183. However, information obtained from the Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines suggests that the company was registered in 2021, not 2016. This discrepancy in the establishment date raises concerns about potentially false advertising.
Furthermore, according to Whois data, the broker's official website domain was registered on July 24,2021.
Regulatory Information:
IUX Markets is not regulated by any regulatory authority. This lack of regulation raises concerns about the safety of funds, investor protection, and risk mitigation. The services provided by this broker carry a higher level of risk. Investors are advised to exercise caution when considering this broker's services and prioritize the security of their funds.
Trading Products:
IUX Markets offers various financial instruments for trading, including:
Indices: Index CFDs allow investors to trade based on the price performance of market indices without owning the actual component stocks or assets.
Futures: Futures CFDs enable traders to speculate on the price movements of an asset without physically owning it, allowing for profit or loss.
Energy: Energy CFDs are contracts based on the price changes of energy commodities, allowing investors to take long (bullish) or short (bearish) positions without owning the underlying assets.
Precious Metals: CFDs on precious metals like gold and silver provide trading opportunities based on price changes. Precious metals CFDs can be traded without the need to physically own the metals.
These products offer investors access to various financial markets and allow for risk management through diversified portfolios.
Trading Platform:
IUX Markets offers the Metatrader 5 (MT5) trading platform to investors. MT5 is widely recognized in the financial industry for its advanced trading features and a variety of analysis tools. Through MT5, investors can access real-time market data and use various technical indicators and charting features to analyze market trends. The software is compatible with multiple devices, including PC, web platforms, and mobile devices (iOS/Android), making it user-friendly.
Account Registration:
IUX Markets provides an account registration link on its official website, but it does not specify whether the registration is for a demo or real account. The registration process involves clicking on the "Open an account" link in the upper right corner of the website and providing the required information, such as country, email, and password.
Account Types:
IUX Markets offers four account types for investors:
- Standard Account (Minimum deposit: $10)
- Standard+ Account (Minimum deposit: $10)
- Raw Account (Minimum deposit: $500)
- Pro Account (Minimum deposit: $500)
Investors can choose different account types based on their trading needs.
Spreads and Leverage:
Different account types offered by IUX Markets have varying spreads, minimum trade sizes, and leverage requirements. For instance:
The Standard account offers spreads starting from 0.2 pips, with no commission, a minimum trade size of 0.01 lots, maximum leverage of 1:3000, and a minimum deposit of $10.
The Standard+ account features spreads starting from 0.5 pips, no commission, a minimum trade size of 0.01 lots, maximum leverage of 1:1000, and a minimum deposit of $10.
The Raw account provides spreads starting from 0 pips, with a $3.5 commission, a minimum trade size of 0.01 lots, maximum leverage of 1:3000, and a minimum deposit of $500.
The Pro account offers spreads starting from 0.1 pips, no commission, a minimum trade size of 0.01 lots, maximum leverage of 1:3000, and a minimum deposit of $500.
Deposits and Withdrawals:
IUX Markets' official website offers various methods for deposits and withdrawals, including online bank transfers, credit cards, debit cards, and Skrill. Deposits and withdrawals involving international banking institutions may incur certain fees. While credit card and debit card withdrawals are typically free, they may take 3 to 5 business days to process, with rare cases requiring up to 10 business days.
Customer Service:
Investors can access IUX Markets'24/7 customer service through telephone, email, and various social media platforms such as Facebook, LinkedIn, and Instagram. In urgent situations, they can communicate with the broker in real-time over the phone.
Summary:
IUX Markets raises concerns, including the potential misrepresentation of the company's establishment year and the absence of regulatory oversight. The provision of high leverage without regulatory oversight increases the risks associated with trading. Currently, this broker has been marked as "suspected fraud" on the TraderKnows platform. Investors should exercise caution when considering the services offered by this broker, prioritize the security of their financial assets, and avoid falling into potential fraudulent schemes.
