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.
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.
Exercise one — turn the spread into money
IUX (IUX Markets) does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
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 |
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
- According to iux's General Business Terms, a minimum deposit of $200 is needed to activate a Raw account; a 'minimum deposit' refers to the smallest sum required to begin using an account. Third-party directories, however, indicate that the entry points, or minimum deposits, for other account types offered by iux can range from $10 to $50.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: The presence of negative balance protection—a feature designed to ensure you cannot lose more money than you have deposited—is not verifiable.; The exact minimum deposit, which is the smallest amount of money required to open an account, for the Standard/Cent account cannot be independently confirmed, though some sources indicate a range of $10 to $50.; Verifiable information about the typical EUR/USD spread—the difference between the buying and selling price of the Euro against the US Dollar—is not publicly available.; The current status of the Mwali/MISA licence, a regulatory authorization from the Mwali International Services Authority, remains unconfirmed despite the register entry showing an end date of 23 February 2025.; The claim that the company's headquarters (HQ) is in Limassol, Cyprus, as found in the Finance Magnates directory, cannot be confirmed, especially since IUX's own materials and Wikipedia list 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.
PipMentor 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.