Who is this broker, LQDFX? Is LQDFX governed? How can you be sure you picked the correct broker? Simple. You must be aware of the broker’s identity and its location of business. We choose to respond to all of your inquiries. Discover if LQDFX is a trustworthy broker or another scam by reading our in-depth assessment.
Is LQDFX a Licensed Broker?
LQDFX Ltd. is the owner of the brand LQDFX. The broker was founded in 2015 and is based in the Marshall Islands.
This broker asserts on its website that it collaborates with tier-1 EU banks including Barclay’s, HSBC, and Deutsche Bank with regard to the security of the money. But we couldn’t uncover any evidence to support that.
You should exercise extreme caution while creating an account with this broker since they are not overseen by any reputable organization.
Why Should Not You Trust an Unlicensed Broker?
A broker should be avoided if they are unlicensed and cannot get a license from the regulatory body in your country. Even if the brokerage is regulated, it is advised to stay away from it if the regulator is based somewhere else.
Warnings From Financial Regulators
The CFTC has LQDFX broker on its “red list.” We discovered a 2019 CFTC warning informing US citizens that this broker is soliciting their money while providing them with financial services under a license. Customers should be extremely cautious when opening an account because the broker is offshore and does not have to adhere to strict regulations in any nation.
Everyone who thinks he was defrauded by LQDFX is encouraged to denounce the fraud by the CFTC.
Leverage and conditions
The variable spreads offered by LQDFX, a 100% Straight-Through-Processing (STP) broker, differ depending on the kind of account. On the Micro account, for instance, the typical spread on EUR/USD is 1.4 pips, which is average. Spreads on EUR/USD average 0.2 pip, and a cost of $7 per standard lot is charged if you want to create an ECN account with this broker (round trip).
Minimum Deposit and Withdrawal Terms of LQDFX
The minimum initial deposit needed to start an account with LQDFX is a mere $20, which is a rather cheap amount. FX Choice, on the other hand, which is also registered in the Marshall Islands, requires $100 as a starting balance for all account types (including ECN).
Platform Offered by LQDFX
LQDFX offers xStation and MetaTrader 4.
Two popular platforms allow full customization, making each broker’s version unique. Consider it a bare system that one broker can equip to make it amazing. Free makes it popular. These platforms have pros and cons.
Victim of LQDFX Scam? Report Your Story To Us.
Are you a victim of the LQDFX scam? Just submit a report to us. We will help you with a free consultation and service recommendation to get your money back.
Ways to Make a Deposit
LQDFX accepts credit cards, bank wires, and e-wallets. Neteller, Skrill, China UnionPay, FasaPay, Sofort, iDEAL, and vouchers like jeton, paykasaepaycode, cashixir, gscash.
Country Serving by LQDFX
This company is serving now in the US
Is LQDFX trusted?
No, LQDFX cannot be trusted. They are unlicensed and unregulated. We already discussed that unregulated trading platform is much riskier because they don’t provide any security to your investment and they can run away at any time.
What is the problem with an unregulated broker?
An unregulated broker is not bound to provide any report to anyone and they do not provide any support for investment failure. If clients cannot make a profit due to market failure, they will not take any responsibility.
Is it possible to recover my scammed money?
Yes, this is possible to recover your scammed money. With the help of a good recovery company, you can recover your scammed money. Just submit a report to us. We can recommend you some good recovery companies which can really help you.
Can MT4 trades be faked?
No, MT4 trades cannot be faked. Scammers may fake the account or use other companies’ accounts but they cannot make fake trades.
How do I know if a forex broker is real?
If they hold a real license, are regulated by a financial authority, and have a good reputation in their client base, that broker is real.