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Who is the provider? There are a handful that give you a few connections on one account. If it is a provider with multiple connections then the rest will depend on your internet, I've been having a smooth stream on my tablet which is limited to 15Mbps, I would not think it should reach much more than that for 1 stream, so if you've got atleast 30-50Mbps you should be fine.
Short answer is yes if your provider allows it. No if they don’t
Wouldn't Plex Server count as one device? https://www.simplehelp.net/2017/11/30/how-to-watch-iptv-in-plex/ providing your other devices can get Plex client, that might be the way to go. I have already setup the plugin in my server, seemed straightforward enough, but I don't have the IPTV service to test yet, still waiting on activation.
(disclaimer, I am new to IPTV and am still waiting on 1-day trial for Vader Stream).
As stated already, depends on your provider and speed. My provider allows upto 5 devices playing at once or 3 IPs at once. I usually have 2 simultaneous streams going at one time plus 3 computers, 2 google minis, 2 cellphones with no issues on 150mb service.