iUX 2024 Review: Scam or Legit?

iUX Overviews

IUX Markets is a FOREX CFD trading broker that was established in 2016 and currently has over 180,000 users worldwide. It supports 10 languages including Thai. It has a modern and attractive website to use. The details and advantages are clearly visible from the first page of the website. In addition, IUX Markets is a fast-growing and popular broker in Thailand.  

Is iUX Safe? Broker Regulations

Trustworthiness is an important factor in making traders feel safe and confident in opening an account with a broker. How trustworthy each broker is can be seen in part by the presence of a regulatory body to increase trustworthiness.

So how reliable is iUX?

IUX Markets (MU) Ltd. Regulated by the Financial Services Commission (FSC), Mauritius under license number GB22200605, registered address at JurisTax Ltd, Ebene House, Hotel Avenue, 33 Cybercity, Ebene, 72201, Mauritius.

IUX Markets Limited is incorporated in association with the Financial Services Authority in St. Vincent and the Grenadines under registration number 26183 BC 2021 at Beachmont Business Centre, 321, Kingstown, St. Vincent and the Grenadines, registered address at 16 Foti Kolakidi, 1st Floor, Office A, Agia Zoni, 3031, Limassol, Cyprus.

IUX Markets ZA (PTY) Ltd is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa with FSP number 53103 registered at 1st Floor Cnr Kildare Road and MA, Newlands, Cape Town, Western Cape, 7550.

IUX Markets AU Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) under license number 529610 with registered office at ‘6 04’ Level 6, 10 Bridge Street, SYDNEY NSW 2000.

What Can I Trade with iUX?

IUX offers a wide range of trading instruments, including CFDs on futures, forex, indices, stocks, metals and energies. According to the latest information from the website, traders can access:

Forex: 63 currency pairs covering major, minor and exotic currency pairs.
Cryptocurrency CFDs: Over 120 cryptocurrencies available to trade every day of the week.
Commodities: 10 products including metals and energy assets.
Stocks: More than 120 famous global stocks
Indices: 23 major indices from global markets

These offers provide traders with ample opportunities to diversify their portfolio across asset classes.

Currency (Forex)
Forex remains the world’s largest market. The broker offers trading in over 63 currency pairs, allowing traders to explore opportunities in major and emerging markets.

Crypto CFD
The crypto market is open 24 hours a day, every day, allowing for continuous trading. Currently, traders can trade CFDs on over 120 digital assets, including the most popular cryptocurrencies.

index
Indices allow traders to effectively manage risk by diversifying their investments. This broker offers trading with over 23 index assets from global markets with spreads starting from 0.0 pips.

share
There are over 120 prominent stocks from global markets to trade. These stocks provide a wide range of opportunities for traders looking to invest in leading companies around the world.

Commodities
This category includes popular energy and metal assets that are known for their high volatility. The platform currently offers trading opportunities for over 10 commodity products.

energy
Energy-based trading assets include oil and gas markets. They provide traders with the opportunity to access competitive prices and speculate on dynamic price movements.

How to Trade with iUX?

iUX is currently available for trading on the Meta Trader 5 platform and directly in a web browser. iUX Meta Trader 5 is available on multiple devices including desktop, tablet and mobile:

• Windows
• Mac
• Android
• Iphone/ipad

The iUX MetaTrader 5 servers are connected to the cloud for faster trade execution. iUX claims that the MetaTrader 5 servers have a latency of less than 1 millisecond to major VPS providers, making them ideal for all types of trading.

How Can I Open iUX Account? A Simple Tutorial

How to open an account at iUX Let’s continue with the steps to enter trading. The iUX account opening method can be done by clicking on ” Register ” to enter the registration page.

After entering the registration page, you will see a field for filling in personal information to open an account. The details are as follows:

• country
• Name and Surname
• Email
• Password and confirm password

Then click to accept the iUX terms and conditions and click “Proceed”.

After that, follow the steps and confirm your email, send a copy of your ID or passport only, which must match the name of the bank where you made the transaction. Once approved, you can deposit money and start trading. The steps are similar to other brokers in general.

iUX Charts and Analysis

On the website, when you click on the Spread menu bar and select Market, you will see real-time market information.

Real-time market prices

Analyze market trends

And when we press Analyze , we will see a table with CFDs Screener, Heat Map and Trending technical Analysis.

For charts and analysis and learning about trading, we don’t see this detail on the website, such as the economic calendar, how to use the platform, trading and market knowledge, including analysis from experts, trading gurus, accessible learning resources such as online and offline seminars, and market analysis on youtube, as well as a couple of seminars in Malaysia this year.

iUX Account Types

iUX offers you 4 types of trading accounts to choose from:

• Standard Account
• Standard+ Account
• Raw Account
• Pro Account

Standard Account

Standard+ Account

Raw Account

Pro Account

The differences and advantages of each account type are that the Raw account has a starting spread of 0.0 pips, the Standard and Standard+ accounts have no trading fees and a minimum deposit of $10, while the Standard Raw and Pro accounts have a leverage of 1:3000.

For new traders who don’t want to invest for real, iUX also has a demo account for you to try it out.

Do I Have Negative Balance Protection with This Broker?

According to the information on the iUX website, the broker does not specify any negative balance protection conditions. Many brokers that have this condition will have an advantage because traders will be able to decide to become clients and trade with the broker more comfortably. From the iUX review, the lack of this condition may make many traders, especially beginners, worry whether their accounts will go into negative balance or not.

iUX Deposits and Withdrawals

Support Service for Customer

In terms of the customer support center, iUX claims to be available 24/7 . When you access the help center page from the menu bar at the top of the website, you will see a bar that looks like a web browser page for filling in the information you need help with, which seems to have only one main contact channel. Scrolling down, you will see all of iUX’s social media channels. You can contact them through these additional channels, there are many channels including:

Social media

• Facebook
• Linkedin
• Instagram
• Youtube

Website

In addition to social media, there are other channels on the website including:

• FAQ
• Live Chat

You can click on the “24/7 Support” button on the bottom right corner of the website, which will take you to the FAQ page. You can scroll down to view the frequently asked questions or type a question in the Live Chat on the bottom right corner.

Prohibited Countries: Where Can I Not Trade with this Broker?

The countries where iUX is not allowed to be used are not specified on the website, but you can ask for more information in the Live Chat .

Special Offers for Customers

iUX Review Conclusion: Reputable Broker with Easy-to-use Platform

Overall, is iUX good? The broker has advantages in terms of supporting multiple languages, including Thai, which is an advantage for many brokers because it makes it easier to access many countries. There is a low starting spread, and deposits and withdrawals are relatively fast. However, there is no protection against negative balance, which is another important factor in deciding to choose a broker.

Summary and Key Takeaways

iUX is a great broker to use in terms of the wide range of devices available, the speed and the variety of deposit and withdrawal channels that make it convenient for traders.

FAQs

About Author

Naree Suriyawan

Naree Suriyawan, a native of Bangkok, Thailand, embarked on her educational journey at Chulalongkorn University, earning her Bachelor's degree in Business Administration. She continued her pursuit of knowledge by completing a Master's degree in International Finance at Thammasat University. Naree's professional career began at Bangkok Financial Group, where she delved into the intricacies of finance, gaining valuable experience in risk management and investment analysis. She later moved on to work with top-tier Thai corporations, including Siam Investment Consortium, specializing in market research and international business development. With a wealth of experience in the Thai business world, Naree now shares her knowledge and ...

Read more ...