Discuss LQDMarkets.com (Liquid Markets)

[LQDP]

Hi Folks,

Do you have any updates on the situation? Do you have any information if the clients money refund process has already started? It looks like we have been stuck in some sort of bureaucracy here.

In addition there is no feedback on why it takes weeks for FSCS to consider whether LQD Markets clients are eligible for compensation (even though LQD Markets ensured and clearly stated that their clients are insured by FSCS).

And as we all know that around 40% of clients money are gone (even though it supposed to be safe on segregated accounts and out of the company disposal) but no one seems to do anything about this fraud-looking activity. What do you think about that?

The things look weirder and weirder.

Best regards

LQDP

 

[santa1]

Hi Folks,

Do you have any updates on the situation? Do you have any information if the clients money refund process has already started? It looks like we have been stuck in some sort of bureaucracy here.

In addition there is no feedback on why it takes weeks for FSCS to consider whether LQD Markets clients are eligible for compensation (even though LQD Markets ensured and clearly stated that their clients are insured by FSCS).

And as we all know that around 40% of clients money are gone (even though it supposed to be safe on segregated accounts and out of the company disposal) but no one seems to do anything about this fraud-looking activity. What do you think about that?

The things look weirder and weirder.

Best regards

LQDP

Due to lack of funds I can't trade since LQD Markets filed for bankruptcy the 27 January, 2015 ( till today 4 months and 7 days precisely!!!). If FSCS doesn’t give back our funds soon, I don’t see how a retail trader will put his money with an English broker. Sooner or later our ordeal with LQD Markets will become known to the general public.

 

[Raimundas]

Correction

And as we all know that around 40% of clients money are gone (even though it supposed to be safe on segregated accounts and out of the company disposal) but no one seems to do anything about this fraud-looking activity.

Under my understanding, there are around 60% (not 40%) of clients money gone... Let's look at the citation of "Notice of result of meeting.pdf":

Clients are nevertheless welcome to attend the meeting, either in person or by proxy, if they so choose and to vote in their capacity as creditors for the value of the estimated shortfall of client moneys available to meet their client money claim. For this purpose the estimated shortfall for clients on their client money claims is estimated to be 60% of the total amount of their client money claim.

Thus, the shortfall is estimated to be 60% of the total amount of the client money claim. It means, that ~60% (not ~40%) of clients money are gone. Do you have a different explanation?

Best regards,
Raimundas

 

[allen3636]

hi guys, any news with the process in getting back some money

 

[hell81007]

hi guys, any news with the process in getting back some money

Received email from Lucy Griffith on 12 Aug:

Dear Client

*

I am writing to all clients whose claims have been agreed by the Joint Special Administrators.

*

The Financial Services Compensation Scheme (“FSCS”) have confirmed that the investment products offered by the Company are covered by the Compensation Scheme.* Please visit our website at https://bakertilly.insolvencypoint.com/1069879 for further details of what this means for you.

*

Details of your claim have been sent to the FSCS, who will be in touch with you shortly to provide you with an application form to apply with them directly for a refund of monies due.* Please note that this is capped at £50,000.* If any personal details have changed, including your home address, please let us know.

*

You should also be aware that it is not the Special Administrators’ responsibility to determine each client’s eligibility for compensation. This matter will be dealt with by the FSCS, however, we will work with the FSCS to provide any assistance or information it may require in relation to these matters.

*

Please visit the FSCS’s website Customers of LQD Markets are a step closer to receiving compensation |FSCS *and review the Q&As document for further information regarding the compensation process and assigning your claim to FSCS.

 

[santa1]

Hi Folks,

Has someone received an application form from FSCS?

 

[hell81007]

Nope...no update frm their side at all...
Emailed them a couple of times but to no avail...no response whatsoever!!!

 

[hell81007]

After sending 3-4 emails to FSCS in a span of one month, was finally able to eke out a reply from FSCS.

"Thank you for your recent correspondence about your claim for compensation against LQD Markets (UK) Limited.



FSCS is currently putting in process a system so that we can issue Application Forms to former clients of LQD by email. We hope to be able to issue the paperwork in the near future, and we will update our website once we are in a position to proceed.



Unfortunately, I cannot give you a firm date when this will happen, but please be assured that FSCS is working to make it happen as soon as possible.



If you have any questions, please contact our helpline on 020 7741 4100 or freephone 0800 678 1100."

 

[santa1]

After sending 3-4 emails to FSCS in a span of one month, was finally able to eke out a reply from FSCS.

"Thank you for your recent correspondence about your claim for compensation against LQD Markets (UK) Limited.



FSCS is currently putting in process a system so that we can issue Application Forms to former clients of LQD by email. We hope to be able to issue the paperwork in the near future, and we will update our website once we are in a position to proceed.



Unfortunately, I cannot give you a firm date when this will happen, but please be assured that FSCS is working to make it happen as soon as possible.



If you have any questions, please contact our helpline on 020 7741 4100 or freephone 0800 678 1100."

Me too emailed FSCS, but no response. Thank you for the information from them! So, we'll have yet to wait for our claims with LQD Markets... Till now we are waiting 8 months.

 

[hell81007]

Received application form today from FSCS..