Thinking of getting into business with IU Markets? Here is what you must know about this broker. Carefully read this review to find out if iumarkets.com is the trading platform you will want to trade with.
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About IU Markets Broker
IU Markets is an offshore brokerage company with a lot of promises for traders. The broker is owned by FXP MARKETS LIMITED and its address shows — 25 Bank Street Canary Wharf, London E14 5JP.
The broker claims to offer superior customer support , 1X1 personal training, low spreads, negative balance protection, and trading capacity.
There are different account types IU Markets offers. See below.
In spite the trading instruments IU Markets claims to offer, forex traders must know they are dealing with an unknown broker which does not have a regulation over its head.
iumarkets.com: Reasons to Avoid This Broker
Firstly, iumarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, UK does not recognize this broker.
Secondly, we noticed iumarkets.com has no demo account for traders. Because traders can’t test IU Markets on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, IU Markets presents the following information. See below.
Minimum Deposit
IU Markets provides a recommended minimum deposit as $500.
As for the payment methods, we can make payment via Debit/ Credit card, Wire transfer and Bitcoin. However, you should not consider making any payment with this broker because it is a risk. So beware!
IU Markets Platform
IU Markets offers web based trading software and not MT4 or MT5 (Industry standard trading platform) which gives us more reason not to take the broker serious.
As for the leverage, it can get up to 1:500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
IU Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated claims are truly a red flag and must be avoided.
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Conclusion: Is iumarkets.com a Reliable Broker?
iumarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
