LQDFX Review 2024: A Credible Forex Broker With a Taste of MetaTrader

If you are in the market for a vanilla forex broker that offers a best-in-class trading experience and all the other follow-up traits like swap-free and quick order executions, VPS hosting for secure trading, and access to the reputable web trader — MT4, LQDFX is the platform to consider.

But there is a lot more to this broker than just features — something I shall help you explore throughout the following few sections.

LQDFX supports straight-through processing or STP executions, which means quicker trades and orders are directly passed onto the liquidity providers. This eliminates requotes and leads to transparent pricing.

By the end of this detailed LQDFX review, you should be able to identify why this forex broker is the right one for you. Let’s delve deeper now!

Pros and Cons:

LQDFX, as a forex broker and trading platform, is loaded with features.

Let us first explore the pros and cons associated with this ecosystem to help you take a quick call about onboarding the same before going all too detailed with the specs and offerings:

Pros

• Offers close to 90 forex pairs
• It comes equipped with a variety of accounts
• Has the MetaTrader 4 platform integrated within
• Round-the-clock customer support
• Loaded with tons of educational resources

Cons

• Not regulated by the top bodies
• Offers limited asset classes
• No proprietary trading platform

LQDFX received the “Most Reliable Broker” award in 2017 by The Forex Awards.com.

Background and History

It might make sense to look at the credentials before evaluating a forex broker like LQDFX based on features and fee structure. For starters, LQDFX is one of the oldest brokers around, and it was established in 2015. And while it isn’t explicitly globally regulated, it certainly adheres to the Marshall Islands Business Corporation Act, as it’s based out of the Marshall Islands.

In 2017, LQDFX was also awarded the Best ECN broker tag, courtesy of the tight spreads and transparent pricing.

The Signup Flow

With credibility taken care of, it’s time to shift focus to the signup flow, as good brokers ensure users can stay focused on account creation.

To start on LQDFX, you must visit the home page and choose between the live and demo accounts. Once you fill in the basic account opening form, you are redirected to the main page, which requires your information. Once all the credentials are filled, you must verify the email ID, supply credentials using government-issued IDs and utility bills, and finally deposit funds.

LQDFX will also ask you to choose the account later in the signup flow. Also, if you wish to trade, LQDFX will generate some login credentials that you can use on MetaTrader 4 to start trading.

This forex broker has one of the lowest deposit thresholds for micro accounts — $20, making the services very beginner-accessible.

All Platforms Explored

If you are a trader who prefers to access platforms and interfaces on your smartphone, LQDFX might not have proprietary solutions. Instead, you can use the web interface to log in and generate credentials. These credentials can then be used to log in to MetaTrader 4 and initiate LQDFX-led trading.

MetaTrader 4 is a third-party trading platform that supports several Forex brokers like Coinexx and LQDFX. MT4 supports automated trading via expert advisors and can operate across various markets.

Features and Offerings

It is now time to shift focus to the features and offerings associated with LQDFX. Even though the platform positions itself as a forex broker, one of its key traits is the availability of a diverse array of tradable assets. And that’s just the tip of the iceberg.

An Extensive Selection of Assets

As of January 2024, LQDFX allows you to trade nearly 90 forex pairs alongside six commodities and 12 indices. The commodity and index space is available as CFDs or Contract for Differences.

Besides commodities and indices, LQDFX lists stocks and cryptocurrency on its page, letting users know contract sizes, spreads, and more.

Besides forex pairs, all other trading classes are available as CFDs. Crypto CFDs have a contract or a lot size of 1, whereas, for stocks, the same goes up to 100.

Here are the popular forex and metal picks on offer:

In case you want to check out the selection of indices and commodities on LQDFX, check out this list:

Here are the stocks and crypto assets in play, available to trade as CFDs via MT4:

A Decent Selection of Trading Accounts

Once you enroll, you will have to choose between five LQDFX accounts. The choices include Micro, Gold, ECN, VIP, and Islamic accounts — with the last one subject to eligibility. The Micro and Islamic accounts make more sense for beginners as they have a basic deposit threshold of $20.

Here is how the accounts compare:

High Bonuses

LQDFX is one of the few forex and CFD brokers to offer a 100% deposit bonus, provided the deposits are above $250, and you meet specific trading volume requirements. There is an option to win up to $20,000 in deposit bonuses, one of the industry’s highest.

It is worth noting that bonus deposits don’t apply to PAMM accounts. Once the deposit bonuses are issued, the account credits are instant, and you can even withdraw the same.

Educational Resources

LQDFX is one of the few forex brokers that take trading-specific education seriously. From giving access to dedicated courses on select topics to trading calculators, an economic calendar, and chart analysis tools, there isn’t a thing that a trader wouldn’t find helpful.

In addition to the mentioned traits, LQDFX also makes room for unlimited demo accounts and a secure VPS server for a seamless trading experience. The trading experience is handled by MetaTrader 4, which has built-in technical indicators and tools.

Fee, Overheads, and Limits

The features look all hunky-dory for now. But what about the fee structure? Well, here are the details.

For starters, LQDFX’s earnings come from spreads, which can be as low as 0.1 pips for VIP and ECN accounts and as high as one pip for the Micro account. The commission charges vary from $2.5 per lot to $3.5 per lot.

No deposit fees are involved, and a flat $10 charge is levied for card-specific withdrawals.

Also, deposits and withdrawals can be initiated via cards, bank transfers, wire transfers, and e-wallets. Even crypto deposits and withdrawals are supported via supported wallets, and the transfers are instant.

Regarding withdrawal limits, you can take out as low as $10 via PayRedeem without paying any fee. Card-based withdrawals attract a charge of $10 per transaction.

Security Measures and the State of Customer Support

If you are convinced about trying out LQDFX, you should look closely at its security implementations. These are as follows:

1. Advanced encryption protocols to safeguard user funds and data
2. The usage of separate accounts for storing user funds
3. Collaboration with top banking clients like Deutsche, Barclays, and HSBC to ensure the highest security standards for user funds.
4. Inclusion of risk management tools by regularly monitoring operational and trading-specific risks.

Regarding customer support, LQDFX’s service promptness has been rated four by Trustpilot. However, the reviews are numbered; therefore, looking deeper makes sense.

Here are the customer support elements featured by the LQDFX forex broker:

• Live chat support with instant query resolution
• Multi-lingual web page for catering to the global clientele
• The ability to raise detailed tickets by requesting a callback from the team
• Direct account support and email support line
• Multi-platform exposure

Here are all the elements related to LQDFX’s customer support system.

Who Should Onboard LQDFX?

If you are an experienced trader, already familiar with MetaTrader 4, and interested in trying Forex and CFDs, LQDFX is the platform to consider. Also, suppose the lack of regulatory oversight isn’t a deal breaker, and you are more interested in flexible deposit limits and account types. In that case, this is the right forex broker for you.

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