LQDFX Review: Could This Broker Scam You?

LQDFX – who is this broker? Is LQDFX regulated? How to know that you chose the right broker? Simple. You need to understand who the broker is and where it is operating from. We decided to answer all of your questions. Read our in-depth LQDFX review and find out if this broker is legit or just another scam.

Regulation and Security

LQDFX is a brand owned by LQDFX Ltd. The broker is located in the Marshall Islands and was established in 2015.

When it comes to the security of the funds, this broker claims on its website that it’s working with tier-1 EU banks such as Barclay’s, HSBC, and Deutsche Bank. However, we couldn’t find any proof of that.

This broker is not regulated by any top-tier entity and we advise you to be very careful when opening an account with this broker.

LQDFX Warnings

LQDFX broker is on the red list of CFTC. We found a warning from 2019 where CFTC warned US citizens that this broker is offering them financial services with a license, and taking their money. Since the broker is offshore, it does not have strict regulations in any country, so clients need to be very careful when opening an account. 

The CFTC is inviting everyone who believes that he was scammed by LQDFX to report the fraud.

In which countries does this broker work?

LQDFX broker is an offshore broker without a license. This means that it can provide financial services in the countries where it complies with its trading regime.

It is very difficult to determine if an offshore broker complies with any regime since these brokers are usually very not transparent about their services. Therefore, we recommend opening an account with a broker that has top-tier regulations such as FCA, ASIC, or CySEC.

On the website of this broker, there is no information regarding accepting clients, so we can only conclude that they accept clients from anywhere in the world.

Is my money safe with LQDFX?

The main question of every trader is whether his money is safe in the hands of a broker. How can you know that? First thing, you can check if the broker is regulated. The regulator is standing behind the broker and its actions. If you get scammed, the regulator needs to pay you off. That is the safety net you have with regulated brokers. Another thing is to check where the broker is holding your funds. Are they segregated from the company’s funds? In which bank are they?

Obviously, every broker will claim on the website that funds are segregated and held in tier-1 banks. But the only regulatory body can confirm it. This is why it is necessary to find a legit broker.

LQDFX broker is not regulated, therefore you cannot trust that your funds are in a safe place. There is nobody that can check the claims of the broker for you. 

When it comes to withdrawals, there are different methods available. Waiting time is 1 – 10 business days.

This is why we advise all the clients to open an account with a broker regulated by FCA, CySEC, ASIC, etc.

Scammed by LQDFX? What to do?

What to do if you get involved with a scam broker? First thing is to understand that there are things to be done. You can always request a chargeback. If you have any complaints about LQDFX or you got scammed by this broker, contact us immediately! We can help you with the chargeback process. Do not waste more time, contact us now!