LQDFX Review 2020
Established in late 2015, LQDFX has gone from strength-to-strength and has quickly positioned itself as one of the leaders in the FX industry, becoming award-winning on two different occasions.
LQDFX set out its goal of being the most loyal, quality and devoted broker through its business model of following the STP execution avenue. This means LQDFX have no conflict of interest between itself and its clients.
No requotes, lightning quick execution and no dealing desk intervention.With its market leading affiliate program, LQDFX highly values the business that you introduce and we generously reward this as an ongoing commission for each and every trade that a referred client makes. LQDFX offers a variety of programs in which our partners can benefit from, all of which can be obtained depending on the partners experience, portfolio size and know-how in the forex market.
Very competitive spreads and high leverage on Micro accounts- Accepts Clients from USA
- Offers multiple accounts that meet the needs of almost all types of Forex traders
- Offers 100% deposit bonus from $250, up to $20,000
Not regulated in any country- Only offers the MetaTrader 4 platform
- Company Info
- Swap Comparison
- Volume Comparison
| Headquarters | Majuro, Marshall Islands |
| Type of Broker | STP & ECN/STP |
| Founded | 2015 |
| Regulated By | Regulated By Not Regulated |
| Offices In | Malta, Marshall Islands |
| Supported Languages | English, Turkish, Italian, Russian, Spanish, French |
| ESMA Regulation ? | This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article |
Typical Spread on Majors - Live
| EUR/USD | 0.8 |
| GBP/USD | 1.1 |
| USD/JPY | 0.9 |
Order Excution Tests Results - Live
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LQDFX Server Location: , |
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Our Client Terminal Location: St. Louis, United States |
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Average Time (ms) |
|
Server Response |
|
Order Excution (Normal Hours) |
1237.6 |
Order Excution (During News) |
578 |
Review Sections
LQDFX is a brand of LQD Limited and it is a relatively new Forex broker. It started operation in 2015 and over the last five years, the company has earned numerous awards for offering quality Straight Through Processing (STP) brokerage services to clients from all over the world. The office of the company is located in the Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
The Republic of the Marshall Island is a tiny island nation in the Micronesia region in the Pacific with a booming financial services industry. A lot of Forex brokers have moved their businesses to the Marshall Islands in recent years due to the liberal and business-friendly government.
LQDFX is pursuing a business model where they want to compete against established Forex brokers by offering a quality offshore ECN brokerage service and offering traders fringe benefits without being restricted by consumer protection laws imposed in developed financial centers like London or Sydney.
If you are an aggressive trader with limited trading capital of a few thousand dollars, LQDFX offers a unique service with high leverage and straightforward onboarding process. With true ECN service, you can trade freely with this broker. However, if you are trading with a significantly large capital base, trading with a regulated broker might be the right path for you.
All financial institutions in the Marshall Islands come under the purview of the Office of the Banking Commission. It was established under Title 17 Chapter 1 Banking Act 1987 in order to safeguard the soundness of the banking system in the country.
However, the Office of the Banking Commission only has oversight on traditional banks and financial institutions, not brokers. Hence, effectively, LQDFX operates without any regulatory oversight. In fact, we found the page dedicated to Regulations on its website to be empty in January 2020.
Notwithstanind the above, in an effort to ensure the safety of clients' deposits, LQDFX has partnered with tier-1 banks like Barclays, HSBC, and Deutsche Bank. LQDFX claims that all client deposits are kept in separate accounts with its banking partners, but without the regulatory oversight, unfortunately no one can verify if they actually do so.
LQDFX offers five different STP Forex trading accounts for traders and all of these accounts are true ECN accounts. Depending on which account you open, the minimum deposit, leverage, commissions, and spreads will differ. However, all five accounts will offer the same technology platform and assets for trading, including 71 currency pairs, 12 indices, 5 commodities, and numerous metals. You can trade as low as 0.01 lots of a micro lot (1,000 units) with all five accounts.
The first account offered by LQDFX is called a Micro account and it only requires a $20 minimum deposit. The Micro account comes with 500:1 leverage. The Micro account is a standard MetaTrader 4 account with relatively high spreads that starts with a minimum of 1 pip. LQDFX offers a second Gold account with no commissions that offer 300:1 leverage and offers spreads from 0.7 pips. But the Gold account requires a hefty $500 minimum deposit to open.
The next two accounts are called ECN and VIP, and these are designed as pure ECN accounts that charge $3.5 and $2.5 per standard lot (100,000 units). Both of these accounts offer spreads as low as 0.1 pips. The main difference is that the ECN account has a maximum trading limit of 40 lots, but the VIP account has no maximum lot size requirement. Also, you can open the ECN account with only a $500 minimum deposit, but the VIP account is for serious professional traders that need a minimum deposit of $25,000. Keep in mind that the VIP account comes with only 100:1 leverage so if you need more leverage, it is best to open the ECN account.
The fifth account offered by LQDFX is a so-called Islamic account that has all the features of the Gold account, but it is the only account in the service line-up that does not charge any overnight Swap interests - keeping in line with Sharia law.
LQDFX only offers the MetaTrader 4 platform with all the five accounts and you can open as many demo accounts to test your trading strategies as you like. Also, we were happy to find that LQDFX does not impose any set validity period for its demo accounts so you can forward test your strategies for as long as you need.
A quick comparison of different accounts offered by LQDFX
While most Forex brokers have slowly started to roll out the MetaTrader 5 platform, LQDFX is perhaps one of the few brokers who are still solely relying on the MetaTrader 4 platform to provide services to its customers.
While the MetaTrader 4 platform is still a very capable piece of software, it lacks certain advanced order types and the company behind the software, MetaQuotes has reduced the number of updates it gets per year. Also, new brokers are no longer offered a license for the MetaTrader 4 platform.
Nonetheless, if you are a discretionary trader, the MetaTrader 4 platform has a lot to offer and you can probably find that it can help you do almost everything you require to conduct technical analysis. With around 50 built-in technical indicators and charting tools, the MetaTrader 4 platform has stood the test of time over two decades and still has the highest number of custom-built indicators in the market that you can buy off the shelf at the MetaTrader marketplace.
When it comes to automated trading, the MetaTrader 4 could be called the mother of algorithms as it was the first mainstream trading platform that helps popularize the concept among retail traders. The MQL programming language is well adopted among programmers and still today, it is much easier to find a coder to build an automated trading strategy on MetaTrader 4 compared to the new version or on other platforms like the cTrader.
While LQDFX does not provide the Web Trader for MetaTrader, it does support the Smartphone apps for both Android and iOS devices like iPhones and iPads. Hence, if you want to open or close a trade on the go, you can do so with the free apps.
As an ECN broker, LQDFX works with payment service providers and deals with over 265 banks from different countries. Also, they have a partnership with large banks and financial institutions who act as their liquidity providers. But again, the company hosts its own MetaTrader 4 servers and there is no way to verify if they are running any third-party plugins to interfere with the price feed.
The LQDFX website is hosted in the United States, but the MetaTrader live server is hosted by PrimeXM Services in London, United Kingdom. During our latency test, we found the server to be responsive and had no requote issues during the highly volatile market condition.
LQDFX's website is accessible in five languages, including English, French, Arabic, Russian and Italian. Its customer support hotline (+44 2035988261) is based in the United Kingdom and support staff are multilingual as well. However, LQDFX does not offer any toll-free customer support number and if you are calling from outside the UK, you will likely end up paying international calling charges.
Nonetheless, for less urgent matters, you can reach LQDFX customer support via email at support@lqdfx.com and the email support team works 24 hours a day, five days a week from Monday to Friday.
We were happy to see that LQDFX provides a chat function on the website, but it took us a fairly long time to get hold of a live agent on the chat - but we found the LQDFX support staff to be helpful and polite and knowledgeable about key Forex industry issues.
Based on our criteria, we gave the following ratings to their customer service:
LQDFX accepts major credit and debit cards such as Visa and Mastercard as deposit methods and the deposit is usually credited to your account within 30 minutes. You can deposit up to $10,000 per transaction, which should be adequate for most traders. However, if you want to open a VIP account and need to send a larger amount, LQDFX also accepts bank wire transfers. If you make a deposit above $500, the broker will cover any incoming wire fees imposed by their banks.
Besides cards and bank wire, LQDFX has partnered with numerous e-payment service providers like Skrill, Neteller, FasaPay, UPayCard and Vload. Deposits made with these e-payment providers are credited to your account instantly and LQDFX will not charge any deposit fees.
For withdrawal, LQDFX charges a $10 withdrawal fee for credit and debit cards and it takes up to 2 business days for them to process the request. We found the $10 withdrawal fee to be pretty high. But, if you are withdrawing via e-payment companies, it is free, and the requests are processed within 1 business day.
LQDFX is currently running a very lucrative 100% deposit bonus promotional offer. However, to become eligible for the offer, you need to make a minimum deposit of $250 in your account. The catch is you need to meet certain volume requirements to get the 100% deposit bonus. To get a $5 bonus, you need to make a full standard lot of transactions. So, to get a $250 bonus on a $250 deposit, you need to make at least 50 standard lots worth of trades with LQDFX.
While the terms of the bonus program are relatively strict, it is still generous when compared with many others in the industry and you can earn up to $20,000 in bonuses.
There are lots of unregulated brokers who offer better features like higher leverage and have a more transparent business model. Especially, a drawback with LQDFX is the lack of cTrader platform for providing STP/ECN services. As an unregulated broker, it would be ideal to provide at least some verification that your ECN service is free from any manipulation. With cTrader, we can be assured that the broker is connected to the liquidity providers directly.
It would have been great to see the inclusion of cTrader as a trading platform. Nonetheless, there are very few offshore brokers that accept U.S. clients and if you happen to have residency status in the U.S., LQDFX can be a viable option for you.
LQDFX might be new to the industry, but they are a serious competitor in the offshore Forex brokerage market and offer a very competitive fee structure, as well as an adequate number of assets for trading.
LQDFX Reviews
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| Currencies Swap | |||
|---|---|---|---|
| Short | Long |
Type
| |
| Swap Chart for EURUSD for different FX Brokers |
|---|
| Change Currency | ||||
|---|---|---|---|---|
| Volume | ||||
| AUDCAD | 170 | |||
| AUDCHF | 122 | |||
| AUDJPY | 176 | |||
| AUDNZD | 216 | |||
| AUDUSD | 275 | |||
| CADCHF | 108 | |||
| CADJPY | 82 | |||
| CHFJPY | 99 | |||
| EURAUD | 227 | |||
| EURCAD | 171 | |||
| EURCHF | 260 | |||
| EURCZK | 47 | |||
| EURGBP | 76 | |||
| EURHUF | 128 | |||
| EURJPY | 195 | |||
| EURNOK | 242 | |||
| EURNZD | 51 | |||
| EURPLN | 34 | |||
| EURSEK | 63 | |||
| EURTRY | 40 | |||
| EURUSD | 104 | |||
| GBPAUD | 154 | |||
| GBPCAD | 122 | |||
| GBPCHF | 166 | |||
| GBPJPY | 77 | |||
| GBPNOK | 222 | |||
| GBPNZD | 20 | |||
| GBPSEK | 20 | |||
| GBPUSD | 103 | |||
| NOKJPY | 158 | |||
| NZDCAD | 84 | |||
| NZDCHF | 69 | |||
| NZDJPY | 20 | |||
| NZDUSD | 2 | |||
| SGDJPY | 20 | |||
| TRYJPY | 20 | |||
| USDCAD | 109 | |||
| USDCHF | 200 | |||
| USDCZK | 79 | |||
| USDHKD | 12 | |||
| USDHUF | 104 | |||
| USDJPY | 68 | |||
| USDNOK | 211 | |||
| USDPLN | 66 | |||
| USDRUB | 1 | |||
| USDSEK | 74 | |||
| USDSGD | 107 | |||
| USDTRY | 4 | |||
| XAUUSD | 79 | |||
| XAGUSD | 30 | |||
| BTCUSD | 221 | |||
| ETHUSD | 253 | |||
| LTCUSD | 59 | |||
| DSHUSD | 14 | |||
| Volume Chart |
|---|
- Company Info
- Swap Comparison
- Volume Comparison
| Headquarters | Majuro, Marshall Islands |
| Type of Broker | STP & ECN/STP |
| Founded | 2015 |
| Regulated By | Regulated By Not Regulated |
| Offices In | Malta, Marshall Islands |
| Supported Languages | English, Turkish, Italian, Russian, Spanish, French |
| ESMA Regulation ? | This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article |
| Currencies Swap | |||
|---|---|---|---|
| Short | Long |
Type
| |
| Swap Chart for EURUSD for different FX Brokers |
|---|
| Change Currency | ||||
|---|---|---|---|---|
| Volume | ||||
| AUDCAD | 170 | |||
| AUDCHF | 122 | |||
| AUDJPY | 176 | |||
| AUDNZD | 216 | |||
| AUDUSD | 275 | |||
| CADCHF | 108 | |||
| CADJPY | 82 | |||
| CHFJPY | 99 | |||
| EURAUD | 227 | |||
| EURCAD | 171 | |||
| EURCHF | 260 | |||
| EURCZK | 47 | |||
| EURGBP | 76 | |||
| EURHUF | 128 | |||
| EURJPY | 195 | |||
| EURNOK | 242 | |||
| EURNZD | 51 | |||
| EURPLN | 34 | |||
| EURSEK | 63 | |||
| EURTRY | 40 | |||
| EURUSD | 104 | |||
| GBPAUD | 154 | |||
| GBPCAD | 122 | |||
| GBPCHF | 166 | |||
| GBPJPY | 77 | |||
| GBPNOK | 222 | |||
| GBPNZD | 20 | |||
| GBPSEK | 20 | |||
| GBPUSD | 103 | |||
| NOKJPY | 158 | |||
| NZDCAD | 84 | |||
| NZDCHF | 69 | |||
| NZDJPY | 20 | |||
| NZDUSD | 2 | |||
| SGDJPY | 20 | |||
| TRYJPY | 20 | |||
| USDCAD | 109 | |||
| USDCHF | 200 | |||
| USDCZK | 79 | |||
| USDHKD | 12 | |||
| USDHUF | 104 | |||
| USDJPY | 68 | |||
| USDNOK | 211 | |||
| USDPLN | 66 | |||
| USDRUB | 1 | |||
| USDSEK | 74 | |||
| USDSGD | 107 | |||
| USDTRY | 4 | |||
| XAUUSD | 79 | |||
| XAGUSD | 30 | |||
| BTCUSD | 221 | |||
| ETHUSD | 253 | |||
| LTCUSD | 59 | |||
| DSHUSD | 14 | |||
| Volume Chart |
|---|
- Account Details
| Account Currencies | USD, EUR |
| Minimum Deposit | $20 |
| Traders from USA Allowed | Yes |
| Clients Funds Segregated | Yes |
| Interest on Margin | No |
| Islamic Accounts | Yes |
| Islamic Account Restrictions | Muslim Faith Only |
| ECN / STP Accounts Offered | Yes |
| Commission on STP or ECN | $7 / Lot round trip |
| VIP Accounts Offered | Yes |
| VIP Account Requirements | $25,000 Minimum Deposit |
| Mini Accounts Offered | No |
| PAMM / MAM Solutions | Yes |
| API Solutions | No |
| Mobile Trading | Yes |
| Web Based Trading | No |
| Funding Methods | Credit/Debit Cards, Wire Transfer, VLoad, Skrill, Neteller, FasaPay, Bitcoin, Ripple, Bitcoin Cash, Litecoin, KoalaPays |
| Withdrawal Methods | Credit/Debit Cards, Wire Transfer, Skrill, Neteller, Bitcoin, UpayCard |
- Platform Details
| Platforms Offered | MetaTrader 4, MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android |
| NO of Pairs | 89 |
| Cryptocurrency Trading | No |
| Pricing Digits | 5 |
| Trade off Charts | Yes |
| One-click Execution | Yes |
| Email Alerts | No |
| Mobile Alerts | No |
| MetaTrader Server Time | GMT |
| VPS Offered | No |
- Trading Details
| Dealing Desk | No |
| Maximum Leverage | 500:1 |
| Minimum Contract Size | 0.01 |
| Execution | Market Execution |
| Hedging | Yes |
| Scalping | Yes |
| Scalping Restrictions | No |
| Option of OCO | No |
| Option of FIFO | No |
| Liquidity Providers | 10+ |
| Negative Balance Protection | Yes |
- Additonal Instruments
| CFD's | Yes |
| Metals | Yes |
| Oil | Yes |
| Indices | Yes |
- Currencies Swap
| Short | Long | Type  |
|
| AUDCAD | -3.99 | -4.25 | 0 |
| AUDCHF | -4.88 | -1.95 | 0 |
| AUDJPY | -3.85 | -3.50 | 0 |
| AUDNZD | -3.52 | -6.90 | 0 |
| AUDUSD | -2.85 | -3.42 | 0 |
| CADCHF | -6.80 | -1.45 | 0 |
| CADJPY | -7.70 | -2.80 | 0 |
| CHFJPY | -3.20 | -7.50 | 0 |
| EURAUD | -3.65 | -11.50 | 0 |
| EURCAD | -3.70 | -10.10 | 0 |
| EURCHF | -5.50 | -4.10 | 0 |
| EURCZK | -9.80 | -67.10 | 0 |
| EURGBP | -1.20 | -5.30 | 0 |
| EURHUF | -30.80 | -52.80 | 0 |
| EURJPY | -3.80 | -7.80 | 0 |
| EURNOK | -51.50 | -115.50 | 0 |
| EURNZD | -4.25 | -15.50 | 0 |
| EURPLN | -12.80 | -65.50 | 0 |
| EURSEK | -68.90 | -89.50 | 0 |
| EURTRY | -28.50 | -995.50 | 0 |
| EURUSD | -2.60 | -6.38 | 0 |
| GBPAUD | -8.50 | -9.65 | 0 |
| GBPCAD | -6.80 | -7.20 | 0 |
| GBPCHF | -9.86 | -2.50 | 0 |
| GBPJPY | -5.50 | -4.50 | 0 |
| GBPNOK | -65.00 | -80.00 | 0 |
| GBPNZD | -8.62 | -10.20 | 0 |
| GBPSEK | -78.10 | -59.60 | 0 |
| GBPUSD | -3.60 | -5.50 | 0 |
| NOKJPY | -5.60 | -4.60 | 0 |
| NZDCAD | -4.60 | -2.50 | 0 |
| NZDCHF | -9.90 | -1.30 | 0 |
| NZDJPY | -7.70 | -1.60 | 0 |
| NZDUSD | -2.40 | -1.10 | 0 |
| SGDJPY | -5.50 | -3.30 | 0 |
| TRYJPY | -15.40 | -4.80 | 0 |
| USDCAD | -5.52 | -3.50 | 0 |
| USDCHF | -4.45 | -1.25 | 0 |
| USDCZK | -16.50 | -31.90 | 0 |
| USDHKD | -24.20 | -6.60 | 0 |
| USDHUF | -48.40 | -16.50 | 0 |
| USDJPY | -8.80 | -2.07 | 0 |
| USDNOK | -63.80 | -77.80 | 0 |
| USDPLN | -13.40 | -48.80 | 0 |
| USDRUB | -1.20 | -144.10 | 0 |
| USDSEK | -45.50 | -23.45 | 0 |
| USDSGD | -6.75 | -6.80 | 0 |
| USDTRY | -1.12 | -699.40 | 0 |
| XAUUSD | -12.39 | -18.45 | 0 |
| XAGUSD | -1.10 | -1.10 | 0 |
| BTCUSD.c | -15.00 | -15.00 | 2 |
| ETHUSD.c | -15.00 | -15.00 | 2 |
| LTCUSD.c | -15.00 | -15.00 | 2 |
| DSHUSD.c | -15.00 | -15.00 | 2 | Compare Swap rates from other Brokers |
