LQDFX review: Is it a legit or scam forex broker?

3.454 · 123 REVIEWS
Updated: Dec 1, 2021 · LQDFX.com  · Is this your company?

As a scalper I have sign up with Lqdfx due to their very low trading spread if compared other broker accounts. If market will change the direction against to me, I am able to close the portions in minimum lose and then open new trade easily. This environment really supports me to lead a healthy and comfortable trading life. Thanks lqd. 5 star review by Elina walker, USA.
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LQDFX is an unregulated forex broker online since 2015. LQD Limited headquarters is officially located on the Marshall Islands.

Tradeable instruments include over 70 Forex pairs and stock indexes, precious metal, commodities as CFDs.

LQD FX offers MetaTrader 4 platform, available for desktop and mobile devices.

As other brokers, LQD features propriatory educational content, and in-house techincal analysis with stop loss and take profit levels.

Please read LQDFX Reviews below and share live trading experiences with this broker.

LQDFX

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $20
Established: 2015
Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960, MH96960, Marshall Islands
Contact: support@lqdfx.com, +44 2035988261
Regional offices:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4
Mobile Trading: Yes
ECN: Yes
Currencies: (70+)
Cryptocurrencies:
CFD: (35+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Litecoin, Neteller, Ripple, Skrill, UPayCard, VLoad
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Litecoin, Neteller, Ripple, Skrill, UPayCard, VLoad

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3.454 · 123 REVIEWS
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Traders Reviews

Florida, USA,
Oct 18, 2020,
Registered user

You'll notice this when spikes occur just on your platform alone

Service use: Live

This notification was after they took almost 20 thausand dollars from my account that I was trading with a lot free margin left plus greats positions on all my trades , they You'll notice this when spikes occur just on your platform alone and no other charting tool has those. Sometimes, it is unintentional and a glitch from your broker and you stand to be reinstated, however many times it is intentional and you might fall the victim of an unscrupulous forex broker. For those who sit on their computer to monitor their trades, it is frustrating to find such rapid price moves. I don’t think was unintentional but the damage it’s done and I don’t want others traders loss their money for unscrupulous forex broker . It’s not only this , what about Stop loss hunters ? Stop loss hunting is one of the ways they use to do that. They have some special robots or hire and train some employees who monitor the clients trades. When a client takes a short position and sets a stop loss and the market goes against the position and becomes so close to the stop loss, the robot or the stop loss hunter employee increases the spread manually to help the price hit the stop loss sooner. It’s easy to find out if your dealing with an honest broker or not ! If anyone who trade with this broker never saw this trick them I’m wrong but anyways I saw a lot of times , cost me a lot of money/


Dear Reibel,

We trust this email finds you well.

We are contacting you to inform you that yesterday 13.10.2020, there was a price error on US30 from our Liquidity provider's side, which resulted into a significant wick that reached a price of 21474.84.

Due to this error, a great deal of our clients suffered losses, which of course we reimbursed. On the other hand, this error was beneficial for other clients by gaining profits based on wrong pricing.

Having stated the above, we would like to inform you that your US30 trades were reset and the correct balance/P&L will now reflect on those trades that were affected, as those profits were gained due to the wrong pricing at the time.

Thank you for your understanding in this matter and please accept our apologies if this has caused any inconvenience.

Kind Regards,
  1 trader has found this review helpful
Reply by LQDFX Representative submitted Oct 21, 2020:
Dear Reibel,

Thank you for taking the time to post this review.

First of all, we did not take or remove any money from you, you did not suffer any loss due to the wrong price. The profits you are referring to were not gained from actual market pricing, due to the spike they were fictitious as the market never reached such price, it only did due to the error we explained.

All clients that were affected negatively were fully reimbursed, which is the right thing to do as a professional company. However, we had to do the right thing for those who gained profits due to this error, which is to rectify all those trades.

With the above stated facts, the text you copy-pasted from some website in your review is irrelevant to the case.

Furthermore, do you mind specifying why do you consider yourself to be a victim? You would be a victim if you were on the other side, by being one of the clients that lost money due to the wrong price and not being reimbursed. Then you might consider yourself being a victim as we are confident that if you actually suffered losses due to this error, you would not ask us to leave your balance as it is but instead to reimburse you.

Regarding the assumptions you express with the “stop loss hunting” text you copy-pasted in your review from some website, again, it does not truly reflect your trading account history. However, we will refrain from adding more details in regard to your trading history or trading strategy.

As a conclusion, the profits to which you are referring should have never occurred, hence why those funds were removed from your balance.

Kind Regards,

Mark
Official Representative
New York, USA,
Oct 6, 2020,
Registered user

Trusted platform

Service use: Live

Taking into account that US traders are very limited when it comes to Forex trading, I am happy that there are few decent companies out there who we can trust and LQDfx is one of them. All Forex brokers offer 1 main product - Forex trading, all those companies have the trading instruments that can satisfy our trading needs (of course low spreads and commissions are also a factor). However, what it matters nowadays is the service - how fast deposits are in, how fast withdrawals are processed, how stable the platform is and last but not least customer support.

Having said that, based on my experience with LQD I believe this is a 5 star broker. Moreover, it is rated as a trusted broker in one of the most popular forex threads on another forum website. I'm not saying that this company is completely flawless, but at least if an error occurs - they work together with the client.

Stay safe everyone!
 
Bismarck, USA,
Oct 6, 2020,
Registered user

Worst broker

Service use: Live

Length of use: 0-3 Months

LQDFx is not a good broker. I have traded forex for years and was sure of the trade I placed. When I place a buy order they will reverse it to sell, when I will place a sell order they reverse it to a buy order. I Checked on TradingView and other two brokers and found that LQDfx was just bent on wiping my account which they actually did.
 
Reply by LQDFX Representative submitted Oct 14, 2020:
Dear Oluchi667,

Thank you for your review.

We are always happy to receive any kind of feedback, but this review somehow makes absolutely no sense. Unfortunately, this is another very tiresome, unjustified review, that offers no substance or any productivity to the reader or to LQD.

We cannot be certain what exactly the case is, as you chose not to provide any account details. However, it seems like a confusion with the orders you placed from your end.

In addition, it is worth to mention that the MT4 platform is unable to reverse orders on its own accord, which is a preposterous assumption.

In any case, if you need any assistance or you would like us to look into your trades, please feel free to contact us directly. Our team will be more than happy to assist.

Kind Regards,

Mark
Official Representative
Jennifer Hudson,
Nsw, Australia,
Sep 22, 2020,
Guest

Good environment

Service use: Live

Length of use: 3-6 Months

already i have experienced with so many brokers but right now comfortable with lqd, the main positive thing is lowest spreads which supports me much as scalper. but its increase sometimes at night and during news ( i have seen 2 times). have not faced any major something. customer service very fast in live. overall environment really good.
 
San José, Costa Rica,
Aug 31, 2020,
Registered user

Worst and most annoying broker ever

Service use: Other

Length of use: Have not used

I've never seen such a useless broker as this. If you open your account they ask you to provide them with proven documents of your card, your id and your proof of address. With the proven address, in my case i do pay rent, and the basic services but there was no document for me that had EXACTLY my name and the address where i live; which is why i even went to my government officials to ask if they could provide me with that information. They said that since i'm not the landlord of the property they couldn't give me the POA (proof of address) l asked the official to provide me with the tax bill of my landloard. This in order for me to create a letter from my landloard stating that i've been living there for an amount of time and proving that as well. LQDFX kept sending me emails sayin the same thing over and over " it has to be stamped and signed by a governement official, accountant etc..." i even contacted the engineer that did the evaluation of the property before my landloard acquired the property. He made me a letter of that confirmation with his company. So if you want to really waste your time and not feel supported by them go for LQDFX!
 
Reply by LQDFX Representative submitted Sep 3, 2020:
Dear pablo30633,

Thank you for your feedback.

We are sorry to read about your disappointment and even more sorry that we could not accept you as a client.

Please note that in order to verify your account, apart from a valid ID document, we require a proof of address, i.e. a document that has your name on as well as the address you registered with.

As a proof of address we accept a utility bill (electricity, water, phone, internet, etc.) or a bank statement or a letter from the bank or any official third party document (issued by government authority officer, local police department or by your bank). Unfortunately, you failed to provide us with any of the above-mentioned documents that has your name and address on. If you are not able to provide us with a document fulfilling such requirements, sadly we are not able to accept you as a client.

We do apologize if this has caused you any inconvenience.

Kind Regards,

Mark
Official Representative
Joseph emarah,
Tuas singapore, Singapore,
Aug 26, 2020,
Guest

4 star Broker

Service use: Live

Length of use: 6-12 Months

Lqd is one of the good brokers out there with decent trading conditions and fast customer service. I only give 4 stars because i must use another company for crypto trading, if lqd had crypto it would be 5 star broker. They say in the future they will have but nothing yet. Anyway, overall good broker for forex and metals
 
Warren mi, USA,
Aug 24, 2020,
Registered user

I need help

Service use: Live

Length of use: 3-6 Months

So far I'm not liking what's going on just made live accountIm having issues with getting my refund .. they wallet address broken .. I tried to put $3k in my account and it never made it to it.. that's alot of money that just disappeared.. I keep emailing and chat run around saying my email not registered to them etc but I got screenshots of everything.. so disappointed cause I really want to use this broker
  1 trader has found this review helpful
Reply by LQDFX Representative submitted Aug 28, 2020:
Dear miz_ria,

Thank you for your feedback and the time you have taken to post this review.

You have emailed us regarding your failed deposit on the 24th of August, giving us no time to investigate and revert back to you, as this review was posted the very same day.

Cases related to clients' funds are always taken seriously and being dealt with on a priority basis. After your email was received, the payment service provider was contacted regarding the delay and later the funds reflected into your LQDFX Wallet.

We are sad that your first impression of our company is rated 1 star. However, as you have just started using our services, we believe that now your experience meets your requirements and that you will revise your rating.

Should you need any further assistance, please do not hesitate to contact us.

Kind Regards,

Mark
Official Representative
Christchurch,
Canterbury, New Zealand,
Aug 11, 2020,
Guest

feel good

Service use: Live

Length of use: 3-6 Months

I have two accounts with lqdfx and honestly speaking no problems about trading conditions, everything is fast, they withdraw as soon as 1 hour. . Around 3 to 4 months going with them, I made already 2 withdraw and they pay me intime. Feel good.
 
Noman hossain,
Johor, Malaysia,
Jun 27, 2020,
Guest

Review

Service use: Live

Length of use: 0-3 Months

after passing one week in demo , i have opened a real account on lqd, with no restrictions deposit instantly done. spreads is loswer than many of the broekrs i tried before. really looking forward do work with them more.
 
Kazi Sajib,
Newyork, USA,
Jun 25, 2020,
Guest

Great Broker

Service use: Other

Length of use: 6-12 Months

With a diverse trading style never have I been settled down on a particular strategy. In different situations even with different problems my experience went over lqdfx well. I made a number of withdrawals with successful cash outs. All my withdrawls came as accrue to me due to their no account fees. The support they have been providing to me, hope they will retain in future.
 

Frequently Asked Questions

Is Lqdfx safe or regulated?

LQDFX is a Marshall Islands company and not regulated with any government agency. 

Checking whether if LQDFX is regulated or not is a start to get to know this company, another good way to know more about the company is to read the unbiased traders review on ForexPeaceArmy. https://www.forexpeacearmy.com/forex-reviews/13035/lqdfx-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent LQDFX community discussions: https://www.forexpeacearmy.com/community/tags/lqdfx.

Does Lqdfx trade Crypto?

At this moment LQDFX doesn't offer Cryptocurrencies to be traded.

LQDFX right now offers the access to the following assets:

  • Forex Currency Pairs
  • Precious Metals
  • Commodities
  • Stock Indices

Is LQDFX a good broker?

First of all LQDFX is not regulated by any government agency.

Secondly LQDFX is registered in Marshall Islands with a very general office address.

Most importantly read the unbiased traders reviews on ForexPeaceArmy to understand whether LQDFX is good or not. https://www.forexpeacearmy.com/forex-reviews/13035/lqdfx-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent LQDFX community discussions: https://www.forexpeacearmy.com/community/tags/lqdfx.