This broker partners with a provider who happens to be a market maker, i.e. a bank that injects quotes into the market which drives the price in the opposite direction of your trade. This makes LQDFX complicit in stealing your money.
It's astonishing how a representative from LQDFX comes on here and replies to every negative review, as if all is well, when it's a well known fact that 99% of retail traders lose all of their money in the forex market.
Similarly, you will lose your money trading with this broker. It doesn't matter what strategy you use, or if you backtest your strategy, because as soon as you enter a trade, suddenly the strategy doesn't work.
And don't count on a price reversal. Price will defy comprehension, by continuing indefinitely until you close the trade or get wiped out. That's because their liquidity partner will drive the market in the opposite direction all the way up to the moon, or all the way down to hell, just to take your money.
If you want to rate LQDFX in terms of professionalism and convenience, then yes, I'd suppose you'd give them 5 stars, but at the end of the day, it's your MONEY that counts, and if they're complicit in a racket to steal your money, then you will heed my warning and stay away from this broker.
There is a reason why they choose to do business from the Marshall Islands with no regulation. Because they don't want any oversight. If you're so above board, then why would you hide your business on a small island surrounded by ocean? Does that sound like someone doing business in good faith?
And there is a reason why they don't accept direct credit card deposits. Because obviously credit card companies know about the theft and don't want their customers to be victims.
Their strict account requirements are nothing more than smoke and mirrors to make you think your money is safe. They even tell you themselves, "We care about your money, and you should want to trade with a broker who makes your money a priority."
True, a priority to steal it.
Don't fall for the ruse.
You are going to lose all of your money with this broker.
It is not a fair trading environment and they are not doing business in good faith.
Don't listen to their representative and his slick talk.
Take my advice and that of many other reviewers, avoid this broker.
Reply by LQDFX Representative submitted Sep 22, 2021:
Thank you for taking the time to write this review.
Although it is difficult to understand the actual issue, we must respond to such reviews so inexperienced traders or traders with no experience with LQDFX can get a clearer understanding.
We say inexperienced, as our clients or experienced traders in general, would perhaps not bother reading the review all the way through. This is a clear rant at LQDFX, with no base of truth, no evidence. Simply your trading had not gone as planned, and you are looking for someone to blame.
All brokers use providers called the Liquidity providers, and yes, the market is made somewhere, or there is no market.
The reason we chose the Marshall Islands is apparent, so we could offer better trading conditions to clients that are restricted. Such restrictions have to do with low leverage, which prices traders out of the market due to limited resources, PAMM limitations or regional restrictions and more. We are talking about a category of traders that you fall under as well.
As for the strict requirements you mentioned, they are not over and above the correct way of doing business in the financial industry. If you, as an investor, trust companies that would accept anything just to approve your account, then we might not be the right broker for you.
Furthermore, we wish to go over paragraph 4 to clarify your review based on your market experience. So let's say you place a long position and as you have stated, the market will be driven down against you until you lose your investment. So, in this case, what happens to the short positions of other traders? Are they going in the opposite direction with the purpose of losing as well? It is needless to say that this makes absolutely no sense.
In conclusion, if you have any clear points to an issue inquiry, please feel free to contact us. Otherwise, this review sounds more like being written out of anger, connected to some losses, that you blame our company for instead of going back to the drawing board and see where your strategy needs improvement.