LiquidityX Review: Forex and CFD SCAM?

LiquidityX is a Forex and CFD broker operated by a Greek company. The local regulator HCMC has licensed it. On the pages of their website, the founders talk about worry-free trading on the most secure platform. However, we will look at uncomplimentary reviews and analyze legal documents. Are there scammers hiding here?

LiquidityX General Information

Registration and Client Portal Review

The LiquidityX website greets the visitor with an unbalanced design and an invitation to trade that makes a difference. It is difficult to agree with this statement when it comes to CFDs. The broker is well aware of this and places a non-removable element with a high-risk warning at the bottom of the browser window. Between 74% and 89% of traders lose money when trading CFDs. Upbeat!

However, LiquidityX offers to craft the future of trading, especially since it is a licensed broker. Let’s try to create an account here right away. To do this, fill out a standard form.

Provide your name and contact information. Please note that the company provides services only to residents of the European Economic Area. (At the same time, the phone code of any country in the world is available for selection for some reason).

Next, you need to fill out a questionnaire. The client should inform LiquidityX of his investment goals, trading experience, estimated annual income, education, etc. If everything is done correctly, then in a couple of minutes you can get access to your client portal. On the left side, the trader sees a list of available assets, and on the right side, a price chart.

Without verification, you can work on a demo account for 6 months. To open a real account, you will need to go through the verification procedure. It is possible to trade without documents, but the period is limited to 3 weeks.

Also, in the LiquidityX client portal, you can deposit your account, use trading tools, go through verification, change profile data, and contact the operator. By the way, there is no two-factor authentication. The password for the next login will be simply sent to your email.

LiquidityX Trading Conditions

LiquidityX considers itself to be a versatile broker that has all the ingredients for successful trading. Both retail and professional traders can cooperate with it (according to the European directive MiFID 2).

Account Types Review

As usual, the list of available services depends on the selected tariff. However, the differentiation of accounts is reminiscent of a one-day broker, not a licensed European intermediary. See for yourself.

Also, the same features are available on all accounts: market analysis, economic insights, web TV, and so on. Not very interesting. Also, LiquidityX may change the size of the minimum deposit and other parameters at any time without your consent.

The detailed size of spreads, swaps and other specifications for each asset is unknown. You can find out these parameters directly in the WebTrader, but it’s not very convenient, is it? In any case, the step of increasing the deposit looks too huge. The benefit, in turn, is doubtful. Clients of LiquidityX will only get lower spreads.

Trading Platform

The WebTrader platform is familiar to both beginners and more experienced clients. It has over 350 CFD contract products, a demo account, and charting support for analysis. According to the creators, a trader should not compromise, because he has a lot of opportunities.

Indeed, you can test a variety of technical indicators, timeframes, and other tools. Besides, LiquidityX has partnered with MetaTrader 4. If you want to use this traditional trading software, you can download the app to your PC or open the web version from any device.

LiquidityX — Deposit and Withdrawal of Funds

There are several options for making a deposit:

• Debit/credit cards
• E-Wallets (e.g. Sofort or Trustly)
• Wire transfers.

LiquidityX does not charge any fees for deposits (additional fees may apply from third-party agents). When withdrawing, rates will depend on the selected account type. The term for the transfer of funds is up to 5 business days.

Verification

To verify your account, you need to upload 2 standard types of documents:

• Identity card (or passport, or driver’s license)
• Address confirmation (up-to-date utility bill or bank statement).

Apart from that, LiquidityX requests confirmation of your payment details. It can be both sides of a credit card, a screenshot of your e-wallet profile, or a bank transfer confirmation. Document processing time is usually about 3 business days.

Education

Since LiquidityX is an authorized broker in the European Economic Area, it cannot offer bonuses or aggressive marketing practices. So on the company’s website, you will find only educational materials. However, their benefits can hardly be overestimated.

First of all, only logged-in users have access to books and guides. However, after the login, many materials will remain blocked. To finally take advantage of them, you have to make a deposit.

LiquidityX also offers short-text articles on different types of trading assets, trading strategies, technical analysis, and other basics. The information in them will be new and useful only for absolute beginners. By the way, you can use the trader’s calculator, but only to find out the breakdown of commissions for a possible trade.

Is LiquidityX a Scam?

Unfortunately, it is already clear that LiquidityX is not the best option for trading. We will test our assumptions with online open sources and company documents.

Legal Information and License

LiquidityX is managed by Capital Securities S.A. The company has a license from HCMC, but only since 2021 has received permission to provide cross-border CFD trading services. This license from the Greek regulator also allows it to manage client portfolios and provide investment advice.

However, we were confused by the date the permit was issued. At the time of writing this article, the broker has been operating for just over a year, so it is difficult to assess its reliability.

Liquidityx.com Domain Info

Just in case, we checked the history of the domain. It was created back in 2016. However, the web archive shows that the broker was launched in August 2021. https://www.similarweb.com/ shows that the broker is not doing well. Traffic is about 200k people monthly, over the past month, it has decreased by 36%. So far, it is most popular in Italy and Portugal.

Contacts Review

There are several options for contacting LiquidityX, including a phone number, email, and online chat. The chat has 5 regional departments, which is convenient for users who speak different languages. The company’s headquarters is located in Athens.

Interestingly, there is only a Greek number for communication. And on the Greek site, it won bad marks. People from different countries are complaining about spam, scams, and automated calls.

Pros and Cons

3.9 TOTAL SCORE

LiquidityX Summary

LiquidityX can't be called a scam for sure. At the same time, we do not see any advantages for the company in comparison with world-famous brokers. This is hardly a good option for getting to know trading.

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Website information content 4

Client Portal 6

Trading conditions 3

Trading platform 7

Deposit and withdrawal 3

Verification 4

Extra options 2

Licenses and guarantees 5

Work duration 2

Feedback 3

Frequently Asked Questions (FAQ)