LQD Ltd Broker Review

LQDFX

A regulator warning has been issued by Canadian authorities against LQD Ltd in September 2023

LQD Ltd is a forex and CFD broker that claims to offer a variety of trading instruments, platforms and account types. But are they legit or a scam? In this blog post, we will review LQD Ltd and see if they are trustworthy and reliable.

First of all, let’s look at their regulatory status. LQD Ltd is registered in the Marshall Islands, which is an offshore jurisdiction that does not have a reputable financial regulator. This means that LQD Ltd is not supervised by any authority and does not have to comply with any rules regarding customer protection, fund segregation, anti-money laundering, etc. This also means that if you have any issues or disputes with LQD Ltd, you will not have any legal recourse or compensation scheme to rely on.

Secondly, let’s look at their trading conditions. LQD Ltd offers four account types: Basic, Standard, Premium and VIP. The minimum deposit for the Basic account is $250, which is higher than the industry average of $100. The spreads are also very high, starting from 3 pips for the EUR/USD pair, which is much higher than the typical 1-2 pips offered by other brokers. The leverage is also very high, up to 1:500, which can increase the risk of losing your money quickly. Moreover, LQD Ltd charges a commission of $10 per lot traded, which adds to the cost of trading.

Thirdly, let’s look at their trading platforms. LQD Ltd offers two platforms: MetaTrader 4 (MT4) and Status Web Trader. MT4 is a popular and reliable platform that has many features and tools for traders. However, LQD Ltd does not provide any information about their MT4 server location, execution speed, slippage, etc. Status Web Trader is a web-based platform that does not require any download or installation. However, it is very basic and lacks many features and tools that MT4 has.

Finally, let’s look at their customer service. LQD Ltd provides a phone number, an email address and a live chat option on their website. However, we tried to contact them several times and did not receive any response. This raises doubts about their professionalism and availability.

In conclusion, we do not recommend trading with LQD Ltd. They are an unregulated offshore broker that has very unfavorable trading conditions, questionable platforms and poor customer service. They are likely a scam that will try to take your money and disappear. You should avoid them at all costs and look for a more reputable and regulated broker instead.

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