LQDFX: reviews of working with the broker and a detailed overview
Broker Review: LQDFX
For a long time, LQDFX operated in the USA, but then shifted to other markets, including Russia. However, should you trust this broker? Let’s look at the details.
Key Information about LQDFX
The company has several versions of its website, including a Russian one, but the quality leaves much to be desired. Errors on the site indicate shortcomings in LQDFX team’s work.
The company was allegedly founded in 2015, but in reality, this is not the case. The actual date of LQD Limited establishment was in May 2016. Interestingly, the website was launched before the company itself, raising doubts.
Throughout its operation, LQDFX has not opened any offices in other countries. Additionally, communication with customer support is only possible via email or phone, which raises suspicions.
Supervision of LQDFX Activities
The broker does not have licenses in the Marshall Islands, where it is registered. Most regulators have already warned users about the risks of working with LQDFX.
Many international organizations have identified issues with LQDFX fraud. Recently, the Central Bank of the Russian Federation also included the broker in the list of suspicious companies.
Trading Conditions
The broker does not offer favorable conditions for traders. The minimum entry threshold makes it attractive only for beginners. A 1:500 leverage creates a high risk of losing money.
Without regulation, the broker cannot guarantee the safety of investments or quick closure of deals. Trading conditions are unfavorable even in the company’s honest operation.
Reviews of LQDFX
There are numerous reviews online about working with LQDFX, confirming risks and issues with the broker.
Fraud Schemes
LQDFX employs proven fraud schemes, luring clients with quick profits and artificially altering trading conditions in their favor.
Conclusion
LQDFX is not recommended for use due to a number of issues, including lack of licenses, negative reviews, and fraud schemes.
I am extremely dissatisfied with my experience working with the broker, LQDFX. The customer service was subpar, often leaving me on hold for extended periods of time and providing minimal assistance when they did respond. Transparent trading is not in this broker’s vocabulary. Surprise fees appeared on my account multiple times and I felt manipulated by the inadequate explanation of these charges. The execution time of trades were also disappointing, often lagging which negatively impacted my trading results. What’s worse, my withdrawal requests were a frustrating process, taking way longer than promised with a lot of unnecessary hurdles. Overall, I’d caution others to steer clear of LQDFX as your trading experience could prove to be as unsatisfactory as mine, compulsory for a well-functioning broker.