The full legal name of the broker is LQD Limited. The company was founded relatively recently, in 2015 in Malta. This is one of the offshore zones, which is a common practice among broker companies. To increase the loyalty of potential customers, a minimum deposit threshold of $20 has been set. Additionally, some advantages are offered, including the possibility of automatic trading, mobile trading, scalping, trailing stop, minimum spreads from 0.1 pip and more.
The LQDFX broker overview:
• Year of foundation – 2015
• Contact information for communication – +44 2035988261, [email protected]
• Link to the official website – https://www.lqdfx.com/
• The central office is located in Malta (there are no official representative offices in Europe, the CIS, the United States or Asia).
One of the company’s disadvantages is the lack of regulation. This practice is common among new forex brokers registered in the offshore zone. Because of this, legal issues may arise for clients. For many, the lack of a license from the monitoring commission is an essential feature in order not to select this broker as a financial partner.
The management of the company made sure that users from different regions of the world could freely use the services of the company and receive the full amount of information. In particular, the site is translated into more than 8 languages. The support service also works in several languages: English, Russian, Arabic, Spanish, Portuguese, Italian.
Trading conditions and types of accounts
The forex broker offers to open the following types of accounts:
Here we found no match. The ECN account states that the STR model is used. It is not clear whether bargaining is entered into the interbank market or not. An Islamic account is also available. It implies that the swap is not charged for the transfer of transactions on the next trading day.
Let’s highlight the key trading conditions:
- Minimum deposit amount – $20
- Leverage – up to 1: 500
- The trading platform that is used is Metatrader 4.
- Nominal spread size is from 0.1 to 2 pips
- The minimum transaction size is 0.01 and 0.1 for VIP accounts.
All types of accounts use market order execution. On average, the delay is a few milliseconds.
The training section
Conducting a detailed analysis of the activities of the company LQDFX, we were dissatisfied with the amount of information provided in the training section. The user gets access only to the economic calendar, the trader’s calculator and training courses built based on theoretical material. The material could be useful. But it is not translated. This indicates a disadvantage in the site interface. We have chosen one of the available languages, but the teaching material is not translated – it is displayed in standard English language.
Deposits: replenishment and withdrawal
The LQDFX broker provides a wide range of ways to deposit and withdraw funds. This is a bank transfer, and a transfer through a debit card, and a transfer through electronic payment systems. In most systems, the minimum amount of replenishment is 20 US dollars. In this case, no deposit fees or additional fees are charged. Payment processing takes only a few minutes.
Registration of the profile is taking several stages, which will have to fill a lot of items with personal data. Passport information is not requested but will require a residential address and contact details. After the registration is completed, the user enters the personal account. Unfortunately, we cannot do without verification of the entered information. Therefore, you can immediately download scanned copies of identity documents through your account. When registering, you can select the item “I agree to receive 100% bonuses.” This means that a bonus in the amount of 100% of the initial deposit will be credited to the additional account. But the money cannot be immediately withdrawn – for this you will need to transfer it into the real profit. Therefore, the broker makes it possible to refuse the offer.