LQD FX Review 2020

General Information

Website URL: https://www.lqdfx.com/en/

Founded: 2015

Regulation: n/a

Languages: Four

Deposit Methods: Credit/Debit card, Skrill, Neteller, FasaPay, Cryptocurrencies, and VLoad

Minimum Deposit: From $20

Free Demo Account: No

Types of Assets: Forex pairs, Indices, and Commodities

LQD FX is a Forex broker owned and operated by Trust Company Complex from the Marshall Islands. This is not a regulated broker, but that didn’t stop it from winning two awards. The main vision behind this company is to be the most loyal, quality, and devoted broker in the market. So, let’s see if LQD FX managed to reach its goal.

Trading Platform

At LQD FX, you will find the leading MetaTrader 4 platform. This is not the most innovative platform, but it is always the safest choice since Forex traders love it. You get negative balance protection, fast execution, one-click trading, and advanced technical analysis and charts.

MT4 is a fully customisable platform and you can visually adjust it according to your taste. It is optimised, so each trader can choose how to use it — online or as a downloaded version. Also, there is an option to download the app on your phone, which is excellent.

Account Types

If you decide to open an account at LQD FX, you will be able to choose between five different account types. Some things are the same for each account so you will always get an account manager, the minimum trading size is 0.01, the trading model is STP and execution type Market Execution

Now, let’s see what things are different. The first account is called Micro. The maximum trading size for this one is 5 lots. If you choose it, you will get maximal leverage 1:500 but you have to deposit at least $20.

The next one is a Gold Account. The typical spread for this account 0.7 and the minimum deposit you need to make is $500. Also, the maximum leverage is 1:300 while the maximum trading size is 40 lots. 

The next one is ECN Account. The maximum leverage is the same as in the Gold Account, but the typical spread is 0.1. If you decide to go with ECN, you need to deposit at least $500 and pay a commission on FX, and it is 3.50 USD/EUR per 100,000.

The biggest account you can get is a VIP one. Maximum leverage is 1:100 and the maximum trading size is unlimited. With a VIP account, you need to deposit at least $25,000. And keep in mind that you need to pay commission on FX and it is 2.50 USD/EUR per 100,000.

There is one more account, an Islamic one. The maximum leverage is 1:300, and the maximum trading size is 40 lots. The typical spread is 0.7 and the minimum amount for deposit is $20.

Customer Support

When it comes to customer support, we have to say LQD FX could do things much better. At the first glance, everything looks perfect. There are four different methods, which is great. But the thing is, if you are not already a client, you cannot use the online form and request a call or Live Chat to send them a message.

Basically, you are left with an email and phone number, and the waiting time is not specified. Now you can see why we are disappointed. Customer service should be available to everyone, no matter if you are a potential client or registered member.

LQD FX also has social media platforms but as we said, everything looks perfect just at a first glance. Social media platforms were used last time years ago and you won’t receive any help if you reach out to them this way.

Deposits and Withdrawals

We have to say from the beginning, this part is excellent. They offer many methods, and for deposits, you can choose a Credit/Debit (the money will be on your account within 30 minutes). The minimum amount for deposit with this method is $20 and the maximum is $2,000 per transaction and $15,000 per card.

There are also other methods like Skrill, Neteller, FasaPay, Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash), and VLoad. If you choose one of these, you have to deposit at least $20 (or $30 if you use cryptocurrencies) and the money is on your account instantly.

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), and you will have the money within two to ten business days.

There is also an option to use a Credit/Debit Card and the waiting time depends on your bank. LQD FX needs 2 business days to process the request and after that, you will have to wait from 5 to 10 business days to receive money. The minimal withdrawal amount is 20 USD/EUR and the maximum is 10,000 EUR/USD.

As the last option, you can choose Skrill, Neteller, FasaPay, Cryptocurrencies, and VLoad. Skrill and Neteller offer unlimited maximum amounts and the minimum is $5. For VLoad the minimum requirement is $10 and a maximum of 25,000 USD/EUR per year.

Education

The Education Section is excellent. LQD FX provides different Courses and if you want to watch some of them, you don’t even need an account. Here, you will be able to learn about Forex and CFDs, watch tutorials about MetaTrader, etc.

Aside from that, you will find Chart Analysis, Economic Calendar, Forex Calculator, and the News section. Everything is explained nicely, and you have all the important information on the website.

Our overall impression of the LQD FX broker is good. There is room for improvement, but for now, they did an excellent job regarding platform, education, and withdrawal part.