Worked example

Practising on IUX (IUX Markets)'s numbers

This is an exercise sheet, not a review. We are going to take three things that IUX (IUX Markets) publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.

Attached to: Turning a spread into money·The lesson this practises

The figures we are working from

Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.

0.9Published EUR/USD spread, pips

$200Minimum to open, USD

2016Trading since

Ebene Cybercity, MauritiusHead office

up to 1:3000 (offshore entities; Raw and Pro accounts)Retail leverage cap

5Licence lines on file

Exercise one — turn the spread into money

The spread is the gap between the price you can buy at and the price you can sell at, and you pay it the instant you enter. IUX (IUX Markets) publishes 0.9 pips on EUR/USD. On its own that number means nothing. Here is how it becomes money.

1Fix what one pip is worthOn a one standard lot EUR/USD position — 100,000 units — a one-pip move is worth $10. That is a property of the contract size, not of IUX (IUX Markets), and it holds wherever you trade.

2Multiply the spread by the pip value0.9 pips × $10 a pip = $9.00. That is what it costs to open and close one standard lot here, before any commission the account may also charge.

3Scale it down to a size you should actually tradeA beginner has no business trading a standard lot. At 0.01 lots — a micro — every figure divides by a hundred: the same round turn costs $0.09. Small enough to practise with, large enough to be real.

4Ask what the cost buys youA $500 float would be entirely consumed by 55 standard-lot round turns at this spread and nothing else. That is the number that should change how often you click.

A 1.0-lot EUR/USD round turn here costs about $9.00 in spread at $10 a pip — before any commission.

Now do it without us

Take the spread of any other firm on the practice index, run the same four steps, and write both figures down — per lot and per micro. When you can do that in your head you have stopped shopping on marketing copy and started shopping on cost. The pip value calculator will check your working on pairs where the pip is not a flat ten dollars.

Exercise two — read the account ladder

Account tiers are a pricing structure dressed as a status ladder. IUX (IUX Markets) offers 4 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.

StandardThe entry rung. Whatever the published spread applies to, it is almost always this one — so this is the rung your arithmetic above describes.
ProA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
RawA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
CentA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.

Account names as published: Standard, Pro, Raw, Cent. Platforms listed: MT5, IUX web platform, IUX mobile app.

Exercise three — what this licence list means for you

A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are IUX (IUX Markets)'s lines, each with a plain reading.

Regulator	Entity on the register	Number	What that means for a beginner
ASIC · Australia	IUX Markets AU Pty Ltd	529610	a top-tier regulator: compensation scheme, capital rules and a public register you can search yourself
FSCA · South Africa	IUX Markets ZA (Pty) Ltd	53103	a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme
FSC Mauritius · Mauritius	IUX Markets (MU) Ltd	GB22200605	an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity
FSA Saint Vincent and the Grenadines (company registration, not investment licence) · Saint Vincent and the Grenadines	IUX Markets Limited	26183 BC 2021	an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity
Mwali International Services Authority (MISA), Comoros · Comoros (Mwali)	IUX Markets Limited	T2023172	an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity — Current status not independently verified

How to use that table

1 of these line is top-tier — held by IUX Markets AU Pty Ltd. If you are onboarded to a different entity than those, the protections attached to the top-tier line are not yours, however prominently the regulator's initials appear in the marketing. 3 lines are offshore registrations; treat those as a company address rather than as supervision.

The record behind these numbers

The contracting entity in IUX's General Business Terms is IUX Markets Limited, incorporated in Saint Vincent and the Grenadines under number 26183 BC 2021.
IUX's own regulation page states that IUX Markets AU Pty Ltd 'does not operate, control, or provide any products or services through this website', so the ASIC entity is not the one onboarding clients on iux.com.
The ASIC register extract published by IUX shows AFSL 529610 for IUX MARKETS AU PTY LTD, commenced 22/07/2021 — the figure '5296120' seen in some directories is not the register number.
IUX states it does not solicit or provide services to persons in Australia, Canada, the UK, the USA or Malaysia.
The company's General Business Terms set a $200 minimum deposit to activate a Raw account; third-party directories report entry points from $10 to $50 on other account types.
IUX has been a member of The Financial Commission (external dispute resolution) since November 2024, via IUX Markets (MU) Ltd.
IUX's published fee schedule lists a typical EUR/USD spread of 0.9 pips on the Standard account and 0.7 pips on the Pro account, with a $7 per-lot commission on the Raw account (iux.com/en/trade/fees, 'typical spreads under normal market conditions').
IUX's Client Agreement states the Company 'shall provide Negative Balance Protection to ensure that it is not possible for Client Account balance to fall below zero', with balances below zero automatically reset to zero (policy.iux.com/en/client-agreement/).
Cost positioning, from the records in this file: IUX's typical 0.9-pip Standard spread beats tier-1 desks recorded here at 1.0 pips (OANDA, FOREX.com) on the same pair, and its 0.7-pip Pro spread matches Pepperstone and IG Group on their standard accounts — while its $200 minimum is above the $0 entry those desks offer.
Financial Commission membership gives IUX clients access to its external dispute resolution process and a compensation fund capped at €20,000 per client (financialcommission.org/what-we-offer/compensation-fund/).
Execution runs on MetaTrader 5, which supports Expert Advisors, hedging and netting account modes and depth of market; IUX additionally operates its own web platform and mobile app against the same pricing.

What we could not verify

The following are unconfirmed and are deliberately left blank rather than estimated: exact minimum deposit for the Standard/Cent account (sources range $10–$50); current status of the Mwali/MISA licence — the register entry lists an end date of 23 February 2025; Limassol, Cyprus HQ claim (appears in Finance Magnates directory; IUX's own materials and Wikipedia give Mauritius). Confidence in this file overall: high. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.

Back to the lesson →All worked examples Size a trade with these figures

Run the same exercise on another firm

ActivTrades0.5 pips published, $5.00 per standard lot.Practise →ATFX0.8 pips published, $8.00 per standard lot.Practise →Capital.com0.6 pips published, $6.00 per standard lot.Practise →CMC Markets0.5 pips published, $5.00 per standard lot.Practise →Decode Global0.9 pips published, $9.00 per standard lot.Practise →Eightcap0.1 pips published, $1.00 per standard lot.Practise →

pipdojo.com does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.