Company DetailsMetaTrader 4 PlatformMarketsSpreads & FeesLeverageMT4 Mobile AppDepositsWithdrawalsDemo AccountBonuses & DealsLQDFX RegulationAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportClient SecurityLQDFX VerdictAccepted CountriesAlternatives to LQDFXFAQ
LQDFX is a forex broker offering a good range of currency pairs and CFDs. This 2022 review delves into the pros and cons of signing up with LQDFX, including minimum deposits, match bonuses, and the MT4 trading platform. Get started today.
Company Details
LQDFX is owned and run by LQD Ltd, a company registered in the Marshall Islands. The brokerage was established in 2015 and follows a straight-through processing (STP), no dealing desk (NDD) model, providing direct market access and removing requotes.
The company 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 39 languages, more than 2,000 technical indicators, 30 charting options, plus 9 timeframes. Alongside one-click trading and deep market histories, MT4 also facilitates automated trading through expert advisors (EAs).
MT4 platform
MT4 runs on Windows and Mac computers and can be downloaded from the LQDFX website.
Markets
71 forex pairs are tradeable through LQDFX, consisting of 7 majors, 21 minors, and 43 exotics. You can also trade 8 precious metals, including gold, silver, palladium, and platinum, as well as 11 global stock indices, 4 energy and agricultural commodities, and 16 cryptos.
Overall, our review was pleased to see a generous range of assets that will suit the needs of most beginners and experienced investors.
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. Importantly, 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 official 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 provides 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.
See our guide to leveraged trading for more information.
MT4 Mobile App
LQDFX offers mobile trading using a version of MetaTrader 4 designed for iOS and Android devices. The application supports several charting options and technical indicators, though fewer than the desktop version. However, it retains much of the other functionality, including one-tap trading, interactive charts, market depth, and internal transfers. Traders can also set alerts and push notifications so opportunities don’t need to be missed when away from the computer.
MT4 app
Deposits
Several payment methods can be utilized to fund LQDFX trading accounts, all of which are free to use. Bank wire transfers, cryptocurrencies, Visa and Mastercard payment cards, plus Skrill, Neteller, UPayCard, FasaPay, and VLoad e-wallets are all available.
Wire transfers have a minimum deposit of $250. 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 can take 30 minutes, and wire transfers take up to 5 business days.
Withdrawals
LQDFX offers all the same options for withdrawals, 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, $15 for Bitcoin, $75 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 7 business days.
Demo Account
LQDFX demo accounts are loaded with $100,000 of simulated money and replicate real-money trading conditions. Prospective clients can get to grips with 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. It applies to deposits between $250 and $20,000 and must 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 brand has received some negative user reviews online, so we suggest exercising caution before opening an 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.
MT4 risk tools
Importantly, the website’s education section 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, behavior 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.
Economic calendar
Account Types
LQDFX provides five 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
Minimum deposit $20
Typical spread 1 pip
No commissions
Leverage 1:500
Swaps charged
ECN Account
$3.50 per lot commissions
Minimum deposit $500
Typical spread 0.1 pips
Leverage 1:300
Swaps charged
Gold Account
Minimum deposit $500
Typical spread 0.7 pips
No commissions
Leverage 1:300
Swaps charged
VIP Account
Minimum deposit $25,000
$2.50 per lot commissions
Typical spread 0.1 pips
Leverage 1:100
Swaps charged
Islamic Account
Typical spread 0.7 pips
Minimum deposit $20
No commissions
Leverage 1:100
No swaps
Benefits
Some of the most competitive features of LQDFX’s services vs competitors like Hugosway, Tradersway and FXChoice, include:
Negative balance protection
Good education centre
$20 minimum deposit
PAMM trading
70+ forex pairs
ECN accounts
Tight spreads
Drawbacks
If you take LQDFX vs the likes of Oanda, ICMarkets, and Forex.com, it falls short in the following areas:
No social trade copier (though 3rd party software is permitted)
Offshore registered
Confusing fee structure
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 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:
Live chat – Right-hand side of the website
Telephone number – +44 20 8064 1038
Email – support@lqdfx.com
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 that 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, cryptocurrencies, and indices. There is also a good selection of account options, including a dedicated Islamic account, plus a good education center and support for scalping, hedging, and other trading strategies.
However, customers have expressed some negative opinions in online reviews, 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 States, 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 Belarus.
Alternatives to LQDFX
If you are looking for alternatives to LQDFX we have compiled a list of the top 5 brokers that are similar to LQDFX below. This list of brokers like LQDFX is in order of similarity and only includes companies that accept traders from your location.
Hantec Markets – Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing flexibility to suit any trader.
Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.
RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
FAQ
Can I register with LQDFX in the US?
Yes. This means clients from the US can 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?
Yes, the broker supports trading on cryptocurrencies. It offers 16 major cryptos, of which most are paired with USD or EUR.
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.
Does LQDFX Integrate With TradingView?
No, you aren’t able to use the TradingView charts on LQDFX. However, the broker integrates with MT4 as a trading platform, which can be utilized to view charts.
Does LQDFX Provide VPS?
No – virtual private servers (VPS) aren’t offered by LQDFX. On the other hand, the broker provides direct market access.
Is Arbitrage Allowed On LQDFX?
No. The account opening agreement clearly states that arbitrage and fraud, manipulation, or anything the platform deems as suspicious are strictly prohibited. They reserve the right to remove any gains obtained through such methods and even close user accounts.
Which Are Is Best LQDFX Vs. Hugo’s Way, Traders Way, Or FX Choice?
They are very similar, all providing forex, crypto, stocks, indices, commodities, and the use of MT4 trading platform. The most significant difference is made by FX Choice, which is regulated. Regulated brokers provide additional protection to traders.