LQDFX Review and Tutorial 2020

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LQDFX Facts & Figures

LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.

Awards
• Best ECN Broker 2017 - TheForexAwards.com
• Most Reliable Broker 2017 - TheForexAwards.com
Bonus100% deposit bonus up to $20,000
InstrumentsForex, CFDs, indices, commodities
Demo AccountYes
Min. Deposit$20
Min. Trade0.01 lots
Regulated ByNone
MT4 IntegrationYes
MT5 IntegrationNo
Mobile AppsYes
Auto TradingYes (EAs)
Trade SignalsNo
Islamic AccountYes
CFD
Trade CFDs with tight spreads and leverage.
FTSE Spread11.9
GBPUSD Spread0.1
Oil Spread0.12
Stocks SpreadVariable
Forex

Trade on FX pairs with 1:500 leverage.

GBPUSD Spread0.1
EURUSD Spread0.1
EURGBP Spread0.5
Assets71
Risk Warning – Your capital is at risk

LQDFX is a forex broker offering a good range of currency pairs and CFDs. This 2020 review delves into the pros and cons of signing up with LQDFX, including minimum deposits, match bonuses and the MT4 trading platform.

LQDFX Company Details

LQDFX is owned and run by LWD Ltd, a company registered in the Marshall Islands. The broker was established in 2015 and follows a straight-through processing (STP), no dealing desk (NDD) model, providing direct market access and removing requotes.

The broker has a solid client base spanning multiple locations, from Canada to Australia.

MetaTrader 4 Platform

LQDFX offers clients the well-rounded MT4 platform, the precursor to MT5. MT4 marries a rich selection of features with an intuitive design, making it great for traders of all levels. The trading platform supports 30 different languages, more than 50 customisable technical indicators, 30 charting options and 9 timeframes. Alongside one-click trading and deep market histories, MT4 also facilitates automated trading through expert advisors (EAs).

LQDFX MT4 platform

MT4 runs on both Windows and Mac computers and can be downloaded from the LQDFX website.

Markets

71 forex pairs are tradeable through LQDFX, made up of 7 majors, 21 minors and 43 exotics. You can also trade 16 precious metals, including gold, silver, palladium and platinum, as well as 21 global stock indices, and 6 energy and agricultural commodities.

Spreads & Fees

The spreads offered by LQDFX are different for each account type and vary with market conditions. The Micro account has the widest spreads, with typical values of 1.7 pips for EUR/GBP, 1.2 pips for EUR/USD and 1.8 pips for GBP/USD.

Gold and Islamic accounts have tighter spreads, with EUR/GBP usually 1.2 pips, EUR/USD 1.1 pips and GBP/USD 1.4 pips. The ECN and VIP accounts have the most competitive spreads, coming in at 0.5 pips for EUR/GBP and 0.1 pips for both EUR/USD and GBP/USD.

The Micro, Gold and Islamic accounts are commission-free; however, the ECN account has a $3.50 per lot charge and the VIP has a $2.50 commission. The broker also charges swaps for holding positions open overnight, the details of which are on the LQDFX website.

Leverage

The broker offers flexible leverage up to 1:500 with the Micro account. However, leverage on other accounts is capped at 1:300, except for the VIP account, which offers rates up to 1:100.

Leverage is a way to increase market exposure by lowering the margin requirement for trades. However, it also increases potential losses, so be sure to understand the risks before you sign up for leveraged trading.

MT4 Mobile App

LQDFX offers mobile trading using a version of MetaTrader 4 designed for iOS and Android devices. The app supports several charting options and technical indicators, though fewer than the desktop version. The application retains much of the other functionality, however, including one-tap trading, interactive charts, market depth and internal transfers. Traders can also set alerts and notifications so opportunities don’t need to be missed when away from the computer.

LQDFX mobile trading

Payment Methods

Deposits

Several payment methods can be used to fund LQDFX trading accounts, all of which are free to use. Bank wire transfers, cryptocurrencies, Visa and Mastercard payment cards, plus Skrill, Neteller, FasaPay and Load e-wallets are all available.

Wire transfers have a minimum deposit of $250 and cryptos have a minimum deposit of $30, except for Bitcoin, which has a minimum of $20, along with e-wallets and payment cards. E-wallets and cryptocurrency deposits are processed instantly, but payment cards take up to 30 minutes, and wire transfers take 2 to 7 business days.

Withdrawals

LQDFX offers all the same options for withdrawals, which again are free to use, except for payment cards, which come with a $10 fee. The minimum amount that can be withdrawn is $100 for wire transfers, $20 for payment cards, $10 for Bitcoin, $30 for other cryptos, and $0-10 for e-wallets.

Withdrawal times are decent with e-wallet and cryptocurrency payments processed within 1 business day, cards in up to 2 days and wire transfers between 2 and 10 business days.

Demo Account

LQDFX demo accounts are loaded with up to $100,000 of simulated money and replicate real-money trading conditions. Prospective clients can get to grips the MT4 trading platform, delve into new markets and test strategies with zero risk to capital.

Bonuses & Deals

LQDFX offers a 100% deposit bonus, matching your payment with tradeable cash. The bonus applies to deposits between $250 and $20,000 and needs to be selected at sign up. The bonus can be withdrawn upon completion of trade volume requirements. Volume requirements depend on the size of the bonus, with $5 becoming withdrawable for every full lot that is traded (100,000 units).

See the broker’s website for the latest bonuses and rebates.

LQDFX Regulation

LQDFX is not licensed or regulated by any financial institution. The broker is quite transparent about its business model and has a range of legal documents on its website, which is better than most unregulated brokers. However, the broker has received some negative user reviews online, so we suggest exercising caution before opening an LQDFX account.

Regulatory agencies help to prevent brokers from misleading customers and refusing to fund and process withdrawals. Regulation also improves legal recourse options.

Additional Features

LQDFX offers a good range of educational resources and trading tools. As well as an economic calendar, the broker has Fibonacci, pivot point and deal size calculators.

LQDFX economic calendar

The education section of the website is well laid-out, offering a beginner’s course and a range of video tutorials on ECN trading, using MetaTrader 4 and mobile app functionality. There is an e-book provided on forex trading, offering a deeper dive into trading psychology, behaviour and key concepts. A range of articles is also on offer, exploring technical analysis and risk management, as well as a course on trading strategies for various experience levels and markets.

Account Types

LQDFX provides four live accounts, each of which boasts access to MT4 and the full range of educational material, a dedicated account manager and tradeable assets. The broker also offers swap-free trading conditions for Islamic clients.

Micro Account

ECN Account

Gold Account

VIP Account

Islamic Account

Benefits

Some of the most competitive features of LQDFX’s services include:

Drawbacks

If you take LQDFX vs the likes of Oanda, HugosWay, TradingView, ICMarkets and Forex.com, the brokers falls down in the following areas:

Trading Hours

The broker’s MT4 platform is open 24/7, however instruments are only tradeable when their respective markets are open. LQDFX’s servers run in the GMT+1 time-zone, and the trading hours below are also in GMT+1.

Forex pairs open at 22:03 on Sundays and close at 21:58 on Fridays, with a daily break from 21:58-22:03. Precious metals open at 23:01 on Sundays and close at 21:58 on Fridays, though there is a daily break at 21:58-23:01. Commodities and stock indices have a range of opening times, which are detailed in full on the broker’s website.

Customer Support

The broker has several backoffice teams, operating a 24/5 support service. The team can be contacted using the following details:

The support team can help with multiple account queries, from uploading documents for pending KYC verification to PAMM servers and ‘trade disabled’ error messages. Unfortunately clients cannot consult an FAQ portal for margin call requirements and MT4 login issues. Note, the support team cannot provide advice on taxes or name individual employees.

The address of the broker’s headquarters location can be found on the LQDFX website.

Client Security

LQDFX has a secure website that uses safe single sockets layer (SSL) encryptions on all website traffic. The broker keeps all client funds separate from the company’s capital, so your money is returned to you in the event of broker liquidation.

LQDFX Verdict

LQDFX offers a solid basic service as an online forex broker, with 71 currency pairs and a range of metals, commodities and indices. There is also a good selection of account options, including a dedicated Islamic account, plus a good education centre and support for scalping, hedging and other trading strategies.

However, customers have expressed some negative opinions in online reviews, with clients flagging withdrawal and client portal login issues. We’re also hesitant to recommend offshore-registered brokers due to scam concerns. As such, we would consider other providers first.

Accepted Countries

LQDFX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use LQDFX from United States, Belarus.

FAQ

Can I register with LQDFX in the US?

No, the broker is not intended for use that would be contrary to local law or regulation. This means clients from the US cannot open an account with LQDFX.

Can I fund an LQDFX account with PayPal?

No, many methods can be used for transactions with LQDFX, including e-wallets, payment cards and cryptocurrencies, but PayPal is not supported.

Does LQDFX provide clients with MetaTrader 5 access?

No, the broker offers MT4, the predecessor to MT5, which has won many awards over the years and has established itself as the industry’s standard platform.

Does LQDFX offer cryptocurrency trading?

No, the broker does not support trading on cryptocurrencies, though it does offer a competitive range of 71 forex pairs and several commodities and stock indices.

Is LQDFX a legit online broker?

LQDFX is not a regulated broker, limiting your legal protection if the broker refuses withdrawals or acts improperly. Some brokers are intentionally unregulated, allowing them to provide otherwise restricted services, though you should ensure you are fully aware of the risks associated with these brokers before opening an account.

LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.