LQD FX is a Forex broker established in 2015. This is an award-winning company with one goal — to be the most loyal, quality, and devoted broker in the market. We will see if LQD FX managed to reach its goal or not, but for now, let’s see what it has to offer to clients.
First of all, LQD FX belongs to the Trust Company Complex from the Marshall Islands. It is not directed at any jurisdiction and once you enter the Regulation Section, it will lead you to an empty page. So, I can only assume LQD FX is an unregulated broker.
What LQD FX claims to provide is multilingual customer support, available 24 hours. Aside from that, there are many programs and each client can choose the one that fits its trading needs. They offer 71 Forex pairs, 12 indices, and 5 commodities.
The website design is fast and responsive. It is optimized for both computers and mobile phones, so you will be able to trade no matter the device. In the main menu, there are different categories and all of them are important to Forex traders. Trading Platform, Education, Contact Page, Account Types, etc. Everything is in one place and I appreciate that. So, let’s go straight to the page with Account Types, to see how good the offer is.
There are five different account types. For all of them, the trading model is STP and execution type Market Execution. Also, you will get an account manager no matter the size of the account. The minimum trading size is 0.01, while the maximum is different for each account. The smallest one is Micro Account and the maximum trading size for it is 5 lots. Aside from that, you get maximal leverage 1:500 and typical spread is 1. If you choose this account, you will have to deposit at least $20.
After this, there is a Gold Account. The maximum leverage is 1:300 while the maximum trading size is 40 lots. The typical spread is 0.7 and the minimum deposit you need to make is $500. The next one is ECN Account. As in the previous one, the maximum leverage is 1:300, and the trading size is 40 lots. But the typical spread is 0.1 now. There is also a commission on FX, and it is 3.50 USD/EUR per 100,000. If you choose an ECN Account, you need to deposit at least $500.
The biggest one is a VIP Account. For each VIP client, maximum leverage is 1:100 and the maximum trading size is unlimited. But the minimum deposit is $25,000. Also, you will have to pay commission on FX, and it is 2.50 USD/EUR per 100,000.
The last account LQD FX provides is an Islamic one. With this one, the maximum leverage is 1:300, and the maximum trading size is 40 lots. The typical spread is 0.7, there are no swaps and commissions. The minimum amount for deposit is $20, which is excellent.
As you can see, their account offer is impressive. Each client will find something for themselves depending on experience, trading portfolio, and other factors. Aside from the great accounts, LQD FX offers a Bonus Program as well. It applies to all deposits that are over $250 and it will be added to your account as soon as you make a deposit. This is a 100% bonus and the maximum cumulative amount is 20,000 USD/EUR. You can withdraw it or transfer it for trading purposes, once you reach the total volume requirement.
Platform and Execution SCORE: 90%
LQD FX provides a well-known MetaTrader 4 platform. Many traders will be thrilled to hear this information since MT4 is one of the most popular trading platforms. It offers fast execution, one-click trading, advanced technical analysis and charts, and negative balance protection.
It is fully customisable, and you can adjust it according to the preferences. Also, there is an option to download it or use it online. It is optimised for every device, so you can download MT4 on your computer (Windows or Mac) or phone (Apple or Android).
MT4 is always a safe choice, so I am satisfied with this part. For now, LQD FX is doing an amazing job, let’s just hope things will remain this good.
Withdrawal Speed SCORE: 70%
For deposits, LQD FX offers numerous methods. You can choose to do it with the Credit/Debit card, and they accept Visa and MasterCard. In this case, the money will be on your account within 30 minutes. The minimum deposit amount is $20, and the maximum is $2,000 per transaction and $15,000 per card.
Also, you can choose Skrill, Neteller, FasaPay, Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash), and VLoad. With these methods, you have to deposit at least $20 (or $30 if you use cryptocurrencies), there is no maximum deposit or fees and the money is on your account instantly.
There is one thing you need to keep in mind. If you are using a credit or debit card for withdrawal, the amount cannot exceed your initial deposit. Instead, the rest of the amount will be transferred to you with another method. This is not a usual thing, and I fail to understand why, but at least they pointed out from the beginning, so each potential client can know.
As for withdrawal methods you can use Bank Transfer (500,000 USD/EUR per day is the maximum amount and the minimum is 100 USD/EUR), the money will be in your account within two to ten business days and the fee depends on your bank.
Another option is the Credit/Debit Card and the withdrawal time is 2 business days. Keep in mind this is the time LQD FX has to proceed with your withdrawal request, after that you need to wait for 5 to 10 business days to receive money on your account. This process is slow, I have to say, and I suggest you choose a different method for withdrawals. The minimal withdrawal amount is 20 USD/EUR and the maximum is 10,000 EUR/USD.
Lastly, you can choose Skrill, Neteller, FasaPay, Cryptocurrencies, and VLoad. With Skrill and Neteller the minimum amount for withdrawal is $5 while the maximum is unlimited. For FasaPay there are no requirements while for VLoad there is a minimum requirement of $10 and a maximum of 25,000 USD/EUR per year. The withdrawal time is the same, no matter the method — one business day and you don’t have to pay any fees.
Withdrawal speed is something they can improve significantly. I won’t say I am disappointed, since there are so many available methods, but when it comes to speed, it could be better.
Support and Assistance SCORE: 50%
When you click on the Contact Us Page, there are four different methods. The first one is an online form and you can request a call. Simply add the necessary details and explain to them why they need to call you back. There is a phone number also, so if you don’t want to wait, that is a good option.
Of course, they have a support email and you can send the message using this method. Lastly, they have a Live Chat option. I expected to see this and honestly, Live Chat is a method I always suggest. In most cases, you get a reply instantly. But, here comes the problem. LQD FX allowed a Live Chat option only to registered users. Things are the same as with an online form, you need to have an account number.
I don’t like this at all, since potential clients usually have a lot to ask. Sometimes people cannot find every detail on the website and unfortunately, the only way to have an answer to your question is to send an email and wait for a reply.
This broker has social media platforms, too. But don’t expect to see some news there, since nobody is posting anything for years. I have to say, I am disappointed with their customer support. Although it is available 24 hours for 5 days a week, you cannot choose different methods or get instant replies.
Education and Tools SCORE: 95%
Lastly, there is an education section that can tell us a lot about a Forex broker. This part is extremely important, and I am glad to see LQD FX took it seriously. There are different Courses and some of them are even for people who still do not have an account. You can learn about Forex and CFDs, see what the trading tools and strategies are, watch tutorials about MetaTrader, etc.
Aside from all those courses, there are sections for Chart Analysis, Economic Calendar, Forex Calculator, and the News. All of those sections are equally important, and I have to say, I am surprised to see all of this on the website.
LQD FX disappointed me with the customer support but they made sure that disappointment doesn’t last long. As you can see, this Forex broker offers a lot of great things to their clients. Although it doesn’t have a license, people behind LQD FX made sure they compensate it with good bonuses and education.