Today we will look at the mysterious broker LQDFX. What does its name mean? Why hasn’t it gained popularity yet? What do traders write in reviews? Is it a scam? Let’s find answers to these questions together.
- LQDFX General Information
- Registration and Client Portal Review
- LQDFX Trading Conditions
- Account Types Review
- Trading Platform
- LQDFX — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is LQDFX a Scam?
- Legal Information and License
- Lqdfx.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
LQDFX General Information
| Website | https://www.lqdfx.com/ |
| Phone Number | +44 20 8064 1038 |
| support@lqdfx.com | |
| Address | Beachmont Business Center, 359, Kingstown, Saint Vincent and the Grenadines |
| License | — |
| Minimum Deposit | $20 |
| Assets | CFDs, Forex |
| Leverage | 1:500 |
| Trading Platform | MT4 |
Registration and Client Portal Review
The official LQDFX website does not make any positive impression. It is too simple for a good broker platform. Everywhere on the site, the company speaks of itself as honest and reliable. There is really a lot of self-promotion here. Also, we can’t lose sight of this flashy design. That abundance of red color almost discourages all seeking to trade. At least LQDFX shares legal data with visitors. Important information can be found in the footer of the site.
To create a real account, you can fill out a small form right on the main page. Data to be specified:
- First and last name
- Email and phone.
However, this is only the first stage. Next, you need to fill in the full details of the address and date of birth. Come up with a password. And if you want then specify your website or Skype ID. At the last stage, you will need to fill out detailed financial information. The broker is interested in your income, investment size, and trading experience. You will also be immediately offered a 100% bonus. After you fill out the form in full, you can log in to your personal account. The Client Area looks inclusive. At least, not many brokers use such a solution. At the same time, the functionality here is pretty standard.
LQDFX Trading Conditions
The hero of our review is a fairly typical CFD broker. LQDFX guarantees that the platform has STP transaction execution technology.
Account Types Review
The broker has 5 types of accounts. They differ mainly in the size of the deposit and some characteristics. Among the types of accounts are the following: Micro, Gold, ECN, VIP, and Islamic. Micro and Islamic are enough to top up by $20. The minimum deposit for the ECN and GOLD accounts is $500. VIP requires a deposit of 25 thousand. The trading tools on all accounts are the same. Leverage is different. On micro accounts, it is 1:500. VIP holders can only count on 1:100. Which, however, is still a lot.
The broker does not provide any special additional services. Unless education materials are available to every trader. Some accounts have commissions; others have extended spreads. In general, nothing extraordinary.
Trading Platform
The LQDFX trading platform is MT4. It can be installed on a PC. You can also download it to your smartphone. MetaTrader is a good terminal for trading. Of course, many clients like MT5 more, because it has more built-in functions. However, MT4 is also a good option. Experienced traders appreciate it for its set of useful functions and beginners for its simple interface.
LQDFX — Deposit and Withdrawal of Funds
There are several ways to deposit and withdraw money. Among them are bank cards, cryptocurrencies, and electronic wallets. The minimum withdrawal amount depends on the payment system and ranges from $15 to $75. Additionally, LQDFX charges a commission of $10 for withdrawals using bank cards. Withdrawal in all cases takes 1-2 business days.
Verification
To have full access to trading and financial transactions, LQDFX offers to pass verification. You can upload the necessary documents directly in your Client Portal. The requirements are standard. You will need to provide proof of identity and address. In some cases, the broker asks to confirm the legality of the origin of funds.
Additional Options
The broker has very few additional services. The main offer for customers is a deposit bonus of 100%. It is available to traders who have deposited their accounts with at least $250. The maximum amount that a client can receive is 20 thousand dollars. There is also an education section on the platform. It consists of several courses. However, it is worth noting that they are suitable only for beginners. There is also a chart analysis section. However, it just contains a few graphs. So, this section has no practical value for traders yet.
Is LQDFX a Scam?
LQDFX claims to guarantee the safety and security of funds to its customers. Let’s check if clients can really safely trade on this platform.
Legal Information and License
The first thing that distinguishes an unreliable broker is offshore registration. And LQDFX has exactly that thing. The company has opened an office in Saint Vincent and the Grenadines offshore zone. As you can see from the trading conditions, it does not give clients guarantees. The broker provides huge leverage, bonuses, and other attributes of scammers. That’s all because in this jurisdiction there is very poor regulation.
The FSA, the local regulator, does not issue licenses to international brokers. There is actually no supervision over their activities. Besides, we learned that the company was incorporated in August 2022. Thus, LQDFX is a typical unregulated broker. And its statements about reliability are worthless.
Lqdfx.com Domain Info
Checking the data about the company, we found out that its official website appeared back in 2015. The broker started working a little later. The first mention of it appeared in 2017. It turns out that LQDFX has been working for more than 5 years. However, you know what else we found out? During these 5 years, the broker has opened law firms only in offshore zones. At the same time, it periodically changes headquarters. For example, in 2017 it founded a legal entity in the Marshall Islands. And in 2022 it registered a company in Saint Vincent and the Grenadines. It seems to us that there is no problem choosing a more transparent jurisdiction for company registration. However, LQDFX prefers to be exclusively offshore.
Contacts Review
To contact the broker, you can use a phone number or email. Of course, LQDFX does not have a ground headquarters. The company was registered remotely. So it is unlikely that you will be able to meet with managers personally. Also, traders complain that sometimes support takes a very long time to respond to requests.
Pros and Cons
- Low minimum deposit
- 5 years of work.
- Offshore registration.
- No license.
- Poor additional services.
- High leverage.
- Negative reviews.
Thus, it is not a secure broker. LQDFX is just a typical offshore company that only talks a lot about its transparency. Your money won't be safe here.
Frequently Asked Questions (FAQ)
It’s an offshore CFD broker.
LQDFX offers a deposit bonus. If you deposit at least $250, then you’ll receive a 100% bonus on your trading account. Keep in mind that these funds cannot be withdrawn just like that. You need to make a certain trading volume so that this bonus becomes completely yours.
This broker has an offshore registration and doesn’t have a license. So, we can’t call LQDFX legitimate.
A lot of flaws
Cases of problems with personal accounts have become more frequent. I noticed that sometimes it shows completely strange information, which, for example, was not there yesterday. It’s the same way they can play with the balance, just draw whatever they want. Plus, I can’t get into my personal account often because some work is being done all the time.
Conflict of interest
In almost 80% of cases, orders are closed at a loss for the client. For example, the last transaction, instead of closing on TP, slammed on SL! The loss is not significant, but still. So there were literally 2.5 points to TP. Meanwhile, TP worked for another broker. It is obvious that LQDFX does not send orders to the interbank.
I like bonuses
LQDFX is inferior to other competitors only by one criterion. Of course, I mean, the license. Probably, this will be a big disadvantage for large traders, but not for me. I haven’t had any conflicts with LQDFX yet. However, in any case, I will not start legal proceedings because of a hundred bucks. I will try to resolve the issue peacefully. According to other parameters, the conditions in the company are normal. I registered here only for the bonus.
The trading conditions did not suit me
Be careful with LQDFX! They can change the conditions whenever they want. There is such a thing as emerging and disappearing commissions. I just want to say don’t be surprised if something changes here. Such a scam broker does not suit me. So I left it.