LQD FX is an unregulated company that is based on the Marshall Islands, which is a popular off-shore destination. It was established back in 2015, and though it does not own a licence, their team has made sure to create and follow some regulatory guidelines and policies of their own to ensure the safety of the clients’ funds and information.
As a result, the company is keeping all the clients’ money in segregated accounts. What does that mean, exactly? Well, the segregated accounts keep the clients’ money separate from the money of the company. That way, in case something bad happens with the company, the clients still get their money back. Let us take a closer look at all the features in this LQD FX review.
Quality of Service
LQD FX operates with an MT4 platform, that gives many advantages to the clients. First, this platform is quite responsive and works without delays, which is a great thing. Also, it is adjustable to all devices and operating systems, which is another great benefit. The platform offers around 100 tradeable assets in total. They are listed clearly and organized neatly under sections such as stocks, currency pairs and commodities. When you click on each one, you can see how that asset is currently performing on the market in real-time, as well as how it did in the previous weeks and months.
The leverage for trading these assets is 1:500, which is quite high. It brings a lot more risk than what the industry standard would, which is around 1:50. Also, we have to mention a wide variety of trading tools and instruments that are able for all clients 24/7. From market news about the latest events in the financial world to the interactive charts and graphs, you name it.
Speed of Response
Despite the company operating from the Marshall Islands, their customer support agents are based in the United Kingdom. We can only imagine how much of a conflict of interest this is, especially since this is one of the strictest markets on the globe
The customer support agents are available 24/5, and you can contact them through live chat, email or telephone number. However, the phone number is not international, which is why this option is quite limiting to the majority of the clients. In addition, the email response is quite slow, so you might have the best luck with the live chat.
LQD FX is working in conjunction with the Anti-Money Laundering Policy, which means that it may take a while to process each one of your transactions. During that time, the team is checking and following up on your information and identification, so they can ensure the safety of your funds.
Depending on the payment option that you choose, the time to process your transaction can be different. For example, the bank wire transfer takes the longest – up to 7 business days. The minimum deposit here is $250 and $100 for withdrawal.
Then, the credit and debit cards are processed within 2 business days, but that time can sometimes extend to 10 business days depending on the card processor. Lastly, the e-wallets take the least amount of time to be processed – up to a few hours.
Speaking of different banking options, we should also mention that they also have different fees attached to them. For example, the bank wire transfer fee is not specifically listed, since it depends on the bank where you are starting the transfer. Then, the credit and debit card fee is $10, while the e-wallets option comes with no fees or additional commissions.
As we mentioned already, LQD FX is an unregulated company. However, they do follow some policies and principles that ensure the safety of the clients’ funds data. Still, we would feel a lot safer in the company if it had any type of licencing. We hope that changes in the future.
Variety of Payment Options
Lastly, the selection of payment options is quite satisfying at LQD FX. From bank wire transfer and credit and debit cards to e-wallets and Bitcoin, each one of the clients is guaranteed to find their match.