IQX Trade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.iqxtrade.com/en/register, about the company's legal and temporary regulatory information, the company's address 306 Victoria House, Victoria, Mahe, Seychelles..
IQX Trade Forex Broker
Basic information
Seychelles
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Note: IQX Trades official website: https://iqxspanade.net/ is currently inaccessible normally.
IQX Trade Information
Established in 2023, IQX Trade is a broker registered in the Seychelles. Trading in Forex, commodities, indexes, stock CFDs, and cryptocurrencies are all offered by the firm. Its Seychelles FSA regulatory status raises issues because the license does not cover Forex transactions, despite the fact that it offers high leverage up to 1:500.
Pros and Cons
| Pros | Cons |
| Offers a range of tradable instruments | Unregulated for Forex operations (Non-Forex license) |
| Provides Islamic Swap-Free accounts | No demo account available |
| High leverage of up to 1:500 | Website currently inaccessible |
Is IQX Trade Legit?
With license number 239017, IQX Trade is governed by the Financial Services Authority of the Seychelles. It is registered as a Common Business Registration but does not hold a Forex license. This indicates that the broker is putting investors at risk by operating above the extent permitted by the license.
Iqxtrade.net was registered by UAB HOSTINGER activities on May 25, 2023. The domain expires on May 25, 2026, and was updated on April 25, 2024. It is clientTransferProhibited, so only the owner can transfer it, preventing illegal alterations. This site is active, but its regulatory position raises worries about its legality and safety.
What Can I Trade on IQX Trade?
Currency pairs, commodities, indexes, stock CFDs, and cryptocurrencies are among the tradable products that are available on IQX Trade.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Cryptocurrencies | ✔ |
| CFDs | ✔ |
| Indices | ✔ |
| Stock CFDs | ✔ |
| ETFs | ❌ |
Account Types
Standard, ECN, and Swap-Free live trading accounts are available from IQX. It also offers Swap-Free for Islamic merchants. No practice demo account is mentioned.
| Account Type | Trading Platform | Min Deposit | Max Leverage | Commission | Spread Type | Suitable for |
| Standard Account | MT5 | $100 | 1:500 | $0 | Variable Spread | Beginners and regular traders seeking no commission fees |
| ECN Account | MT5 | $500 | 1:500 | $6/lot | Variable Spread | High-volume traders prioritizing tighter spreads |
| Swap-Free Account | MT5 | $5,000 | 1:500 | $0 | Variable Spread | Islamic traders seeking Sharia-compliant accounts |
Leverage
IQX Trade allows traders to control larger positions with less capital investments with leverage up to 1:500. Effective risk management is essential to avoid large losses due to high leverage.
IQX Trade Fees
The fees charged by IQX Trade are standard for brokers of a similar nature. The ECN account levies a $6 commission each lot, but the Standard and Swap-Free accounts don't have any commissions. The type of account and the instruments exchanged affect spreads.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for what kind of traders |
| MT5 | ✔ | Desktop, iOS, Android | Traders requiring analytical tools and automated trading |
Deposit and Withdrawal
There are no fees associated with deposits or withdrawals at IQX Trade. The Standard Account has a minimum deposit of $100, although this varies depending on the kind of account.
Rating Index
Swapfree account
ECN Account
IQX Trade Similarly Rated Brokers
Latest Reviews
werly
Spain
IQX Trade offers a diverse range of market instruments, including CFDs on popular assets, and has a low minimum deposit that's accessible for traders of all levels.
Positive
2024-07-30
Pierre Dupont
France
Been using this broker's standard account for two months now, and let me tell you, their spreads tighter than the other broker I was with. Plus,mt5 platform is super smooth - no lags and always fills my orders at the exact price I want. Definitely recommend checking them out! 👍👍👍
Positive
2024-06-28
phúc thịnh 2023
Vietnam
Those who are trading and intend to trade with someone named Lâm Trương or David Lâm from IQX exchange, please be careful. These individuals specialize in enticing investors to deposit money and deliberately placing orders to burn investors' accounts, then sending messages to ask for additional capital to maintain the accounts. These individuals have operated on multiple exchanges and all use this trick.
Exposure
2024-08-13