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IQX Trade -

Score

1.36 /10
Danger

IQX Trade

Seychelles

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://iqxtrade.net

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Comparison

Quantity 7

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index5.81

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

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

Single Core

1G

40G

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Broker Information

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Company Name

IQX Trade Group LLC

Company Abbreviation

IQX Trade

Platform registered country and region

Seychelles

Company website

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YouTube

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2025-01-04
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

7 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

IB支持账户

越南新交易商这样去跟IB合作，太丢脸了，交易账户交易一个多星期了，不会理财，不会塞单，也不会切损失。

2023-05-12 08:41
Others

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.

2024-08-13 14:17
Resolved

[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!!!

2023-06-05 16:50
Unable to Withdraw

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.

2024-02-03 15:18
Scam

iqx platform

The exchange automatically deducts the profit from my account without telling me why

2023-05-14 11:12
Scam

IB supports scams

I just invested in this market, but when I met this floor's support, the support was not good, specifically giving orders against the trend, selling at low prices, buying at high prices, refusing to cut losses, leading to the situation. negative account, then instructions to top up, I also recharged but the account status was still negative, I contacted her and she said she had something to do with her account, and finally my account was burned, I contacted I didn't see her reply when I contacted her, I think a new exchange entering Vietnam to cooperate with such ibs is no different from a scam floor, hope everyone be careful

2023-05-11 23:28
Scam

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.

2024-01-31 00:05
    IQX Trade · Company summary

    Note: IQX Trades official website: https://iqxtrade.net/ is currently inaccessible normally.

    IQX Trade Review Summary
    Founded2023
    Registered Country/RegionSeychelles
    RegulationFSA(Exceed)
    Market InstrumentsForex, Commodities, Cryptocurrencies, CFDs, Indices, Stock CFDs
    Demo Account❌
    LeverageUp to 1:500
    Spread/
    Trading PlatformMT5 (Desktop, iOS, Android)
    Min Deposit$100 (Standard Account)
    Customer SupportHeadquarters: +44 20378827312, support@iqxtrade.com
    Branch: +44 20378827312, support@iqxtrade.com

    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 instrumentsUnregulated for Forex operations (Non-Forex license)
    Provides Islamic Swap-Free accountsNo demo account available
    High leverage of up to 1:500Website 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.

    Is IQX Trade Legit?

    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.

    Is IQX Trade Legit?

    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 TypeTrading PlatformMin DepositMax LeverageCommissionSpread TypeSuitable for
    Standard AccountMT5$1001:500$0Variable SpreadBeginners and regular traders seeking no commission fees
    ECN AccountMT5$5001:500$6/lotVariable SpreadHigh-volume traders prioritizing tighter spreads
    Swap-Free AccountMT5$5,0001:500$0Variable SpreadIslamic 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 PlatformSupported Available Devices Suitable for what kind of traders
    MT5✔Desktop, iOS, AndroidTraders 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.

    User Reviews

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    User comment

    6

    Comments

    Write a review

    werly
    more than one year
    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.
    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.
    Translate to English
    2024-07-30 18:16
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    Pierre Dupont
    more than one year
    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! 👍👍👍
    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! 👍👍👍
    Translate to English
    2024-06-28 18:39
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