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IQX Trade

Seychelles|2-5 years|
Common Business Registration|MT5 Full License|Global Business|Suspicious Overrun|Medium potential risk|Offshore Regulated|

https://iqxtrade.net/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

4
Server Name
IQXTrade-Demo MT5
Server Location United Kingdom

Contact

+44 20378827312
support@iqxtrade.com
https://iqxtrade.net/
306 Victoria House, Victoria, Mahe, Seychelles.

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 20378827312

English

+91 1204340636

English

+971 42412700

English

+62 389147439

Broker Information

More

Company Name

IQX Trade Group LLC

Company Abbreviation

IQX Trade

Platform registered country and region

Seychelles

Company website
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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-20
  • This broker exceeds the business scope regulated by Seychelles FSA(license number: 239017)Common Business Registration Non-Forex License. Please be aware of the risk!
  • The Seychelles FSA regulation with license number: 239017 is an offshore regulation. Please be aware of the risk!

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IQX Trade · WikiFX Survey

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IQX Trade · Company Summary

Aspect Information
Company Name IQX Trade
Registered Country/Area China
Founded Year 1-2 years
Regulation Unregulated
Minimum Deposit USD 100
Maximum Leverage 1:500
Spreads From 0.1 pips
Trading Platforms MetaTrader 5
Tradable Assets Currencies, Commodities, Stock Indices, Stock CFDs, Cryptocurrencies
Account Types Standard Account, ECN Account, Swap-Free Account
Demo Account Yes
Customer Support Phone and email
Deposit & Withdrawal $0
Educational Resources Market information, news

Overview of IQX Trade

IQX Trade is a China-based trading platform founded 1-2 years ago. As an unregulated entity, it offers a range of account types, including Standard, ECN, and Swap-Free Accounts. Traders can start with a minimum deposit of USD 100, enjoying high leverage of up to 1:500 and tight spreads from 0.1 pips.

The platform operates on MetaTrader 5, facilitating access to various tradable assets, such as currencies, commodities, stock indices, stock CFDs, and cryptocurrencies. A demo account is available for practice, and customers receive support via phone and email. Deposit and withdrawal transactions incur no fees, while educational resources include market information and news updates. Please exercise caution and conduct thorough research when considering IQX Trade as an unregulated broker.

basic-info

Is IQX Trade legit or a scam?

Being unregulated, IQX Trade lacks oversight and investor protection, leading to higher fraud risk, lack of transparency, and potential disputes. Financial stability concerns and market manipulation risks may also arise due to the absence of regulatory supervision. Customers may face difficulties in resolving complaints, and there are no compliance standards for data security and ethical practices.

Pros and Cons

IQX Trade presents both pros and cons for traders to consider. On the positive side, it offers a low minimum deposit of USD 100, high leverage of up to 1:500, and tight spreads starting from 0.1 pips, making it accessible and cost-effective. Traders can also choose from multiple account types to suit their preferences and enjoy the user-friendly MetaTrader 5 platform.

However, a significant concern is its unregulated status, which raises issues regarding investor protection and transparency. Without regulatory oversight, potential disputes and financial stability concerns may arise. Moreover, the platform's educational resources are limited.

Pros Cons
- Minimum deposit of USD 100 - Unregulated
- High leverage up to 1:500 - Lack of transparency
- Tight spreads from 0.1 pips - Potential disputes
- Multiple account types available - Financial stability concerns
- Access to MetaTrader 5 platform Limited educational resources
- Provides phone and email customer support

Market Instruments

IQX Trade offers a diverse range of trading products to cater to various investment preferences. Here are the trading products available:

  1. Currencies: Trade a wide selection of major and minor currency pairs in the foreign exchange market (forex). Take advantage of competitive spreads and leverage of up to 1:1000, allowing you to speculate on the price movements of different currencies.

  2. Commodities: Access the commodities market, where you can trade precious metals, energy resources, agricultural products, and more. With spreads starting from 0.1 and leverage of up to 1:1000, you can participate in the price fluctuations of various commodities.

  3. Stock Indices: Explore stock market indices from different regions and countries. Speculate on the performance of these indices with spreads starting from 0.1 and leverage of up to 1:200, providing opportunities to benefit from broad market trends.

  4. Stock CFDs: Engage in Contracts for Difference (CFDs) on individual company stocks. Enjoy commission-free trading and leverage of up to 1:20, allowing you to invest in the shares of various companies without owning the underlying assets.

  5. Cryptocurrencies: Access the exciting world of cryptocurrencies, including popular digital assets like Bitcoin, Ethereum, and more. Trade cryptocurrencies with spreads as low as 0.0 and leverage of up to 1:1000, enabling you to capitalize on the volatility of the crypto market.

products

Account Types

IQX Trade gives traders three account types to cater to different needs:

  1. Standard Account:

    1. Minimum Deposit: USD 100

    2. Spread: From 1.4 pips

    3. Leverage: 1:500

    4. Commission: None

    5. Swap: Yes

    6. Account Currencies: USD

  2. ECN Account:

    1. Minimum Deposit: USD 500

    2. Spread: From 0.1 pips

    3. Leverage: 1:500

    4. Commission: USD 6 per lot

    5. Swap: Yes

    6. Account Currencies: USD

  3. Swap-Free Account:

    1. Minimum Deposit: USD 5,000

    2. Spread: From 1.4 pips

    3. Leverage: 1:500

    4. Commission: None

    5. Swap: None

    6. Account Currencies: USD

account-types

How to Open an Account?

Step 1: Registration

  • Visit IQX Trade's official website and click “Register” or “Sign Up.”

  • Fill out the registration form with accurate details and agree to the terms and conditions.

  • Submit the form to initiate the account creation process.

Step 2: Account Verification

  • Check your email for a verification link or code from IQX Trade.

  • Click the link or enter the code on the website to verify your account.

Step 3: Account Funding

  • Log in to your verified IQX Trade account.

  • Go to the “Deposit” section and choose your preferred deposit method.

  • Enter the deposit amount and follow the instructions to complete the transaction.

open-account

Leverage

Account Types Forex Commodities Stock Indices Stock CFDs Cryptocurrencies
Spreads from 0.1 from 0.1 from 0.1 N/A from 0.0
Leverage up to 1:1000 up to 1:1000 up to 1:200 up to 1:20 up to 1:1000
Minimum Deposit $500 $500 $500 N/A $500
Deposit Fee $0 $0 $0 $0 $0
Withdrawal Fee $0 N/A $0 $0 $0
Commission Fee N/A N/A N/A $0 N/A
Overnight Fee N/A N/A N/A $0 N/A

Trading Platform

With IQX Trade's trading platform, individuals gain immediate access to their investment portfolios right at their fingertips. This access is available around the clock, every day of the year, ensuring a constant connection to one's portfolio and the ability to monitor profits regardless of global location. This convenience is made possible through IQX Trade's cutting-edge mobile app, which stands as an industry leader in providing such seamless accessibility.

trading-platform

Deposit & Withdrawal

The following is a table about IQX deposit and withdrawal methods and processing times.

Deposit Table:

Payment Method Currencies Processing Time Fee
Bank Transfer USD, EUR Up to 3 business days None
Credit/Debit Card USD, EUR Instant None
Bitcoin BTC Instant None
USDT (Tether) USDT Instant None
Neteller USD, EUR Instant None
Skrill USD, EUR Instant None

Withdrawal Table:

Payment Method Currencies Processing Time Fee
Bank Transfer USD, EUR Up to 3 business days None
Credit/Debit Card USD, EUR 7 – 14 business days None
Bitcoin BTC Within 1 hour None
USDT (Tether) USDT Within 1 hour None
Neteller USD, EUR Within 1 hour None
Skrill USD, EUR Within 1 hour None
 Deposit & Withdrawal
 Deposit & Withdrawal

Customer Support

IQX Trade can be contacted through the following means:

  • Asia Support: +66991816627

  • Europe Support: +4420378827312

  • Email: support@iqxtrade.com

Their customer support is available 24/7, ensuring that customers can reach out for assistance at any time. Whether through phone or email, IQX Trade is committed to providing prompt and reliable support to address any inquiries or concerns that their clients may have.

Customer Support

Educational Resources

IQX Trade provides market information and news as an educational resource for both beginners and experienced veterans to gain useful knowledge from.

Educational Resources

Conclusion

In summary, IQX Trade has its merits, including low minimum deposit, high leverage, tight spreads, multiple account types, and MetaTrader 5 platform access. However, its unregulated status raises concerns about investor protection, transparency, potential disputes, and financial stability. Traders should approach IQX Trade with caution, considering the benefits alongside the associated risks.

FAQs

Q: What is the minimum deposit required to open an account with IQX Trade?

A: The minimum deposit amount needed to start trading with IQX Trade is USD 100.

Q: What trading platform does IQX Trade offer?

A: IQX Trade provides access to the popular MetaTrader 5 platform for trading.

Q: Are there different types of accounts available on IQX Trade?

A: Yes, IQX Trade offers multiple account types, including Standard, ECN, and Swap-Free Accounts.

Q: What is the maximum leverage available on IQX Trade?

A: Traders on IQX Trade can enjoy leverage of up to 1:500.

Q: What financial instruments can I trade on IQX Trade?

A: IQX Trade offers a wide range of tradable assets, including currencies, commodities, stock indices, stock CFDs, and cryptocurrencies.

Q: Does IQX Trade provide a demo account for practice?

A: Yes, IQX Trade offers a demo account, allowing traders to practice and familiarize themselves with the platform before trading with real funds.

User Reviews

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Comments

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Gapped
more than one year
Their trading charts are very good. Ease of access to my money and easy to deposit money. However, I would be happier if my withdrawals would take only one day instead of 3.
2024-05-17 17:55
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0
0
Hung87
3-6months
Experienced for more than 6 months, found it good, will continue and reevaluate later
2023-12-28 16:24
Reply
0
0
Songer
more than one year
This trading platform is a total scam. The IQX platform deducted profits from my account without any explanation. The support is terrible, giving orders against the trend and refusing to cut losses. One IB revealed that IQX is linked to a chain of scam floors. Stay away from this disaster!
2023-12-12 23:58
Reply
0
0
Mark6510
more than one year
💢💢 IQX TRADE Floor - SCAM Floor - Sweep PARTNER ❌❌ I am the IB of IQX exchange, I support my customers to receive COM/LOT. The total trading volume is 12.58 Lot and I have a proposal to withdraw because it is Com money, so I don't think the exchange will steal. But I was wrong IB COM - IQX SCAM. Screaming with no more stupid reason than 'Invalid Beneficiary' while I use my own main account. ⚙️⚙️ Through my research I know: IQX is the predecessor of Pho Duc Nam, the forerunner of the system GKFX, DK TRADE, ASX MARKET, BOSTON MEX, LCMFX, Tradeska, sea investing,..... is a fraudulent floor system, as well as IQX will be a place to collect investors' money and eat customers' burning money. I attached the images and content below. I hope the community strongly boycotts IQX SCAM FLOOR!!!
2023-06-05 16:46
Reply
0
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