IUX Review

IUX is a forex and CFD broker that was founded in 2016 and is headquartered in Ebene, Mauritius, and operates through regulated entities under ASIC (Australia), FSC (Mauritius), FSCA (South Africa) and the FSA in Saint Vincent. IUX keeps things pretty straightforward with fast onboarding, MT5 across all devices, high leverage up to 1:3000 depending on your jurisdiction, fee-free payments and a cashback-style rewards program called LotBack.

Opening an account is quick - you choose your entity, answer a short investor profile questionnaire, then complete the standard KYC process. Once your documents have been verified, you can open additional trading accounts without repeating any documentation. The client area is centered around the IUX Trade App and web dashboard where you manage funding, withdrawals, internal transfers and the LotBack program. Customer support is available 24/7 via live chat and email, and most routine questions are covered in their help center.

In terms of funding, they offer a fairly wide mix of deposit and withdrawal methods depending on country, including cards, local bank methods and various e-wallets, and they charge no internal fees. Withdrawals can be as small as $5 and are usually processed within minutes, even on weekends. You may still be charged fees by your bank or card issuer, but the broker itself does not add charges, which is something many traders will appreciate.

IUX operates using a hybrid execution model-sometimes acting as a market maker and other times sending orders to external liquidity providers. Some traders prefer the consistency this can offer, while others may prefer a broker that uses a fully ECN/STP model. All trading is done via MT5, available on desktop, web and mobile, or through their proprietary trading app and traders have access to a decent variety of instruments including forex, metals, oil, indices, cryptos and a list of stocks.

The account types offered are split into three familiar options:

• Standard: minimum deposit $10, floating spreads, no commission, leverage up to 1:3000 depending on entity.
• Pro: minimum deposit $500, tighter spreads than Standard, no commission, leverage up to 1:3000.
• Raw: minimum deposit $500, spreads from 0.0 pips, $3.50 per lot per side commission, leverage up to 1:3000.

Swap-free trading is available on all accounts, but comes with conditions. Clients from Islamic countries remain fully swap-free. Others begin on swap-free status, but the broker monitors your trading behaviour, so if you regularly hold positions overnight, swaps may be applied again. It’s more flexible than a fixed “Islamic only” model but it doesn’t give you full coverage.

On the safety side of things, client funds are held in segregated accounts with Tier-1 banks, and IUX offers negative balance protection and supports 2FA. They also provide guaranteed stop losses on certain instruments and their servers are located in London (LD4), New York (NY3) and Singapore (SG1) for lower latency. LotBack is the key perk they use to reward active traders. Instead of bonus credit that many brokers offer, you earn points on each standard lot traded, which can then be converted directly into cash and withdrawn without any restrictions. For active traders, it works a lot like a straightforward rebate system.

The biggest drawback is a geographical one. IUX only accepts clients from 11 specific countries - Colombia, Ghana, India, Indonesia, Laos, Mexico, Nigeria, the Philippines, South Africa, Thailand and Vietnam. Traders living elsewhere cannot open an account with them. Also, the hybrid execution model may also deter those who prefer a pure STP/ECN trading model.

Overall, IUX offers a modern setup with high leverage, quick payments, swap-free options and a genuine cashback program. If you live in one of the supported countries and want a straightforward MT5 broker with strong mobile tools and hassle-free funding, it’s a decent choice. For traders outside those regions, or for those who prefer a pure ECN/STP trading model, IUX is not for you.