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IQX Trade Forex Broker provides real users with 3 positive reviews, 1 neutral reviews and 7 exposure review!

IQX Trade Broker Review

1.38

WikiFX monitor

Business

Influence E

License

No license

IQX Trade Review 11

Latest All(11) Positive(3) Neutral(1) Exposure(7)
Exposure
EXPERTS SUPPORT SCAMS AND PLATFORMS THAT DO NOT ALLOW WITHDRAWALS

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.

phúc thịnh 2023
2024-08-13
Positive

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.

werly
2024-07-30
Positive

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! 👍👍👍

Pierre Dupont
2024-06-28
Neutral
Swift Withdrawals Desired: Otherwise, Satisfactory Trading Experience

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.

Gapped
2024-05-17
Exposure
Scam broker, can't withdraw

On November 15, I deposited my first 5,000 USDT. During the first period, my trading was stable, but then in December, my mother's account was very negative, the peak was on December 14, my account was about to burn. Continue depositing 2000 USDT to the exchange. On December 18, continue to deposit another 2000 USDT to support. But I noticed that depositing USDT on the exchange takes a long time to process the deposit order, so after December 18, I decided that if my account continues to be negative, I will deposit Vietnamese currency. After that, there were days when there was a big negative, my mother's account didn't have enough money to top up the gong, I borrowed money from a friend and asked him to top up Vietnamese currency on the IQX floor according to the opened bill, and I myself also top up the gong once for her. mother's account. On January 18, after I saw the order clear, even though the account initially showed a profit of $1,382, IQX Trade charged an overnight fee on the account of $1,131 and an Intermediary fee of up to $2,744. So my mother's account actually has a loss of $2,493. Realizing signs that my mother's account was being siphoned off and was negative, I decided to accept the loss of the above amount and withdraw my remaining capital from the exchange. On January 19, I placed an order to withdraw all of my mother's remaining capital of $6,251. However, IQX Trade did not allow withdrawals and sent an email suspecting money laundering, asking us to cooperate and appear at the Office. My mother is 72 years old this year, in the cold weather of Hanoi at 8 degrees, IQX tortured an old woman walking back and forth. When my mother went to IQX Hanoi office, there were 2 people named Khanh next, and that day there were 2 more people. came up to ask for money because IQX didn't pay and my mother said that when she saw those two recording the clip, the men there threatened her and told her to delete it. IQX then continuously sent emails, forcing my elderly mother to make statements and do everything they requested. But in the end we received an email from IQX saying we were laundering money and had to go find the IB and ask for the money. This is an unacceptable act of fraud, because I have all the documents to deposit money on iqx, I did not have to give money to the IB, and up to now, because I cannot contact that IB, I have to go online. Go ahead and find a way to get your mother's money back.

Thi Xanh Nguyen
2024-02-03
Exposure
Scam broker: Scam broker,Can't withdraw funds

On November 9, 2023, I conducted a trade at IQX broker based on the strong fluctuations in gold prices at the end of 2023. The total amount deposited into my account was 26,406 USD. After that transaction, I made a profit of 20,011 USD. On January 18, 2024, I requested to withdraw 5,000 USD from my account. However, I did not receive this amount. Immediately after the withdrawal request, my account on the IQX broker website was locked. After contacting the broker's support via email, I was asked to come to their office to resolve this issue. I did this, but there, they used threatening language and did not return my money. I believe that IQX broker's actions were a blatant fraud and I will file a complaint. This incident was reported to the police and the WIKI and FPA communities to warn the community to stay away from similar fraudulent actions. On the 9th of November, 2023, I engaged in a transaction with IQX brokerage based on the significant fluctuations in the price of gold towards the end of 2023. The total amount deposited into my account was $26,406.English version: Following this transaction, I accumulated a profit of $20,011.On the 18th of January, 2024, I requested a withdrawal of $5,000 from my account. However, I did not receive this sum. Immediately after making the withdrawal request, my account on IQX brokerage's website was locked. Upon contacting the brokerage's support department via email, I was obliged to visit their office to resolve the matter. I complied with this request, but there, they employed threatening language and failed to return my funds. I believe the actions of IQX brokerage constitute blatant fraud behavior, and I intend to report this incident to the authorities and the WIKI, FPA community to warn others against similar deceitful practices.

FX1039643005
2024-01-31
Positive
6+ Months Trial Proves Positive, Ongoing Use with Future Reassessment

Experienced for more than 6 months, found it good, will continue and reevaluate later

Hung87
2023-12-28
Exposure
[d83d][dca2][d83d][dca2] IQX TRADE - SCAM - SCAM PARTNER

❌❌ I am an IB of IQX exchange, I have my customer support 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 scam floor system, as well as IQX will be a place to collect investors' money and eat customers' burning money. I attach the images and content below. I hope the community strongly boycotts IQX SCAM FLOOR!!!

Mark6510
2023-06-05

  

IQX Trade 2025 Review: Everything You Need to Know

  IQX Trade has emerged as a notable player in the forex brokerage space, but its reputation remains contentious. This review synthesizes information from multiple sources, revealing a mix of positive features and significant concerns. While the broker offers a low minimum deposit and high leverage, it is also marked by a lack of regulation and transparency, raising red flags for potential investors.

  Note: It's crucial to understand that IQX Trade operates across various jurisdictions, which may affect its regulatory status and the level of investor protection available. This review aims to provide a balanced perspective based on the available information.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 5
Trustworthiness 3
User Experience 4

  How We Rate Brokers: Ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding services and offerings.

  

Broker Overview

  Founded recently, IQX Trade is operated by IQX Trade Group LLC, with its headquarters reportedly located in St. Vincent and the Grenadines. The broker primarily offers trading through the MetaTrader 5 (MT5) platform, which is well-regarded for its advanced charting tools and automated trading capabilities. IQX Trade provides access to a variety of trading instruments, including forex, commodities, stock indices, CFDs, and cryptocurrencies. However, the broker's regulatory status is concerning, as it claims to be registered with the Financial Services Authority (FSA) of St. Vincent and the Grenadines, yet lacks substantial verification of its compliance.

  

Detailed Section

  

Regulatory Overview

  IQX Trade is purportedly regulated in St. Vincent and the Grenadines; however, it operates without stringent oversight, which is a significant concern for potential traders. The lack of regulation raises questions about the safety of client funds and the broker's overall legitimacy. Sources indicate that unregulated brokers often pose higher risks, including potential fraud and lack of recourse for clients in case of disputes.

  

Deposit and Withdrawal Options

  IQX Trade supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies like Tether (USDT). The minimum deposit required to open a live trading account is $100, which is relatively low compared to many competitors. However, the absence of detailed information regarding withdrawal processes and potential fees is a red flag. Users have reported difficulties in withdrawing their funds, which is a common complaint with unregulated brokers.

  

Trading Conditions

  The broker offers competitive trading conditions, including leverage up to 1:500 and spreads starting from 0.1 pips. However, the high leverage can amplify risks significantly, especially for inexperienced traders. The available account types include standard, ECN, and swap-free accounts, catering to different trading preferences. Despite these attractive features, the overall trading experience is marred by concerns over the broker's reliability.

  

Available Assets

  IQX Trade provides a diverse range of tradable assets, including over 35 forex pairs, various commodities, stock indices, and a selection of cryptocurrencies such as Bitcoin and Ethereum. This broad offering can appeal to traders looking for variety; however, the risks associated with trading these instruments should not be underestimated, particularly given the high leverage options.

  

Customer Support

  Customer support is available via phone and email, but feedback about responsiveness and effectiveness is mixed. Many users have expressed frustration over slow response times and difficulties in resolving issues. This lack of reliable customer service can deter traders from feeling secure in their investment.

  

Supported Languages

  IQX Trade offers support in multiple languages, including English, Simplified Chinese, and several others. This can be beneficial for traders from various backgrounds, but the effectiveness of support in these languages remains a point of contention.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 5
Trustworthiness 3
User Experience 4

  

Detailed Breakdown

  

Account Conditions

  The minimum deposit requirement of $100 is appealing, but the lack of regulation raises concerns about the security of funds. Users have reported mixed experiences regarding the ease of account setup and verification.

  

Tools and Resources

  While IQX Trade offers the MT5 platform, the educational resources available for traders are limited. Many users have noted the need for more comprehensive training materials and market analysis tools.

  

Customer Service and Support

  Customer service has received negative feedback, with users citing long wait times and unhelpful responses. This can significantly impact user experience, especially for new traders seeking assistance.

  

Trading Setup (Experience)

  The trading experience on the MT5 platform is generally positive, but issues related to execution speed and slippage have been reported, particularly during high volatility periods.

  

Trustworthiness

  The lack of regulatory oversight and transparency regarding company operations contributes to a low trust rating. Users are advised to exercise caution and conduct thorough research before engaging with IQX Trade.

  

User Experience

  Overall user experience is mixed, with some traders appreciating the low barriers to entry and diverse asset offerings, while others express concerns over the broker's reliability and customer support.

  In summary, while IQX Trade presents some appealing features for traders, the significant drawbacks related to regulation and customer support warrant careful consideration. Potential investors should weigh the benefits against the risks before proceeding with this broker.