Extensive Review
An online broker with a goal to be the most loyal, quality, and devoted to clients through its STP execution avenue, LQDFX was founded in 2015. The company is headquartered in Marshall Island but so far hasn't been registered in any financial regulators yet.
Despite its offshore location and the absence of regulation, LQDFX commits itself to provide services as a true Straight-Through Processing (STP) broker that never takes the opposite side of clients' trades. For safety measures, the company also claims to store their clients' funds in segregated accounts with top-tier banks such as HSBC, Barclays, and Deutsche Bank. As of 2019, there haven't been any major claims or disputes from LQDFX's clients that have been brought in popular sites like ForexPeaceArmy or any other news sites.
Aside from STP execution, LQDFX accentuates its eminence in providing 5 different types of accounts with various advantages for every trader's needs. Trading in LQDFX would offer you the chance of choosing account types as follows:
Micro Account
- Minimum deposit: $20
- Minimum spread: from 1 pip
- Leverage: up to 1:500
- Minimum trade size: 0.01 lot
Gold Account
- Minimum deposit: $500
- Minimum spread: from 0.7 pips
- Leverage: up to 1:300
- Minimum trade size: 0.01 lot
ECN Account
- Minimum deposit: $500
- Minimum spread: from 0.1 pips
- Leverage: up to 1:300
- Minimum trade size: 0.01 lot
VIP Account
- Minimum deposit: $25,000
- Minimum spread: from 0.1 pips
- Leverage: up to 1:100
- Minimum trade size: 0.1 lot
It is important to note that even though Islamic Account and Micro Account is practically typical bar the minimum spread, a prominent contrast between the two accounts is Swap's availability. Islamic Account adheres to Muslim trader's compliance with Sharia Law, so it excludes the rollover rate for any overnight trades.
Traders with a keen interest in venturing into different trading instruments can find many kinds of class assets after opening an account in LQDFX. Other than 71 currency pairs, it offers trading in indices, commodities, and metals available in all five LQDFX account types.
Unfortunately, this broker is still limited in the trading platform department, since MetaTrader 4 is still made as the only choice offered to clients. Seeing that MetaQuotes itself has declared that MetaTrader 4 will be eventually replaced by the more advanced MetaTrader 5, a lot of brokers have been offering the two platforms simultaneously. However, that is not the case with LQDFX's trading platform, signifying their quite late response to market change.
For clients' analysis, this broker creates a whole news section consisting of comprehensive contents about the latest updates in the financial market. The educational feature is also presented with the concepts of beginners course, trading tools explanation, the study of trading strategies, an introduction to ECN, MetaTrader tutorials, as well as a collection of Forex eBooks.
Deposit and withdrawal methods vary from bank transfers, credit card (Visa MasterCard), to e-payments like Skrill, Neteller, FasaPay, etc. It is also worth mentioning that LQDFX has accepted payments via blockchain-based wallet from Bitcoin, Ripple, Ethereum, and LiteCoin.
In conclusion, LQDFX is an accomplished broker for retail traders, especially those looking for STP execution and flexible trading conditions in spreads, leverage, as well as minimum deposits. However, this broker is not preferable if you search for high-tech trading tools, as the trading platform is quite limited and there are no additional technical tools offered for clients. Regarding its status as an offshore broker with no legal standing as a financial service provider, traders are highly advised to consider the risk exposure brought upon these matters before delving into LQDFX's real account.