Forex IQX Trade Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.4

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.6

Business 0.9

Risk Control 1.2

Software 1.9

Regulatory 1.4

Terminal Snapshot

IQX Trade Trading Conditions

Registered Region Seychelles

Operating Period 2-5 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@iqxtrade.com

Contact Number +4420378827312

Website iqxtrade.net

Balanced Review

Pros & Cons

Pros

Diverse range of trading instruments including forex, commodities, and cryptocurrencies
Trading platforms: MetaTrader 4 and MetaTrader 5
Accessible minimum deposit of $50
Offers Swap-Free accounts for Islamic traders
Customer support available via email and telephone

Cons

No valid forex trading license
Numerous complaints regarding withdrawals
Lack of demo accounts for practice
Limited educational resources for traders
Customer support availability during standard business hours only

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	IQX Trade	ZFX	WisunoFX	AvaTrade
Operating Period	2-5 years	See review	See review	See review
Region	Seychelles	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.4/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does IQX Trade Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Standard Account	Beginners and casual traders	Accessible minimum deposit	Suitable for small-capital practice
ECN Account	Experienced traders	Tighter spreads, commission structure	Requires trading volume qualifications
Swap-Free Account	Islamic traders	Swap-free trading options	Must adhere to Islamic trading principles

Account Opening Process

To open an account with IQX Trade, potential clients must complete several steps. First, they need to submit personal information, which typically includes their name, contact details, and employment information. Following this, financial information must be provided to assess trading capacity. An important part of the process is identity verification, which requires documentation such as a government-issued ID and proof of address. Furthermore, accounts can be flexible, allowing traders to upgrade to a professional account at a later stage if required.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	$0 (Standard), $6 (ECN)	Competitive spreads depending on account type
CFDs (Stocks, Indices, Commodities)	Varies	$0 (Standard), $6 (ECN)	Fees based on asset class
Cryptocurrencies	Varies	$0 (Standard), $6 (ECN)	Variable fees due to market volatility

Other Fees

IQX Trade may charge various additional fees, including deposit and withdrawal fees, which are currently stated to be free. Inactivity fees may apply if no trading activity occurs for an extended period. Furthermore, there could be overnight interest charges (swap rates) for positions held overnight, as well as potential currency conversion fees when trading accounts in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

IQX Trade User Reviews

2.8

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Victor Nguyen

Hanoi, Vietnam

★ ★ ★ ★ ★

I deposited $5,000 initially but faced numerous issues with withdrawals. After requesting to withdraw $6,251, my account was locked, and I was accused of money laundering. The support was unhelpful and even threatening during my visit to their office. This experience has raised serious concerns about their legitimacy.

Gapped

Amsterdam, Netherlands

★ ★ ★ ★ ★

While I find the trading charts and deposit process satisfactory, the withdrawal times are frustrating. It typically takes about three days to access my funds, which is longer than I would prefer. Overall, the trading experience itself has been good.

Pierre Dupont

Paris, France

★ ★ ★ ★ ★

I’ve been using IQX Trade for two months now, and I am impressed with their MetaTrader 5 platform. The spreads are tighter than my previous broker, and my orders are filled without any delays. Definitely recommend them for anyone looking to trade efficiently!

Hung

Bangkok, Thailand

★ ★ ★ ★ ★

I had a terrible experience with IQX Trade. After making a profit of $20,011, my withdrawal request of $5,000 was ignored, and my account was locked. When I contacted support, they were aggressive and unhelpful. I feel scammed and will be reporting this broker.

Seychelles Market