Archives: Brokers

Is LQDFX Scam or Legit Broker?

LQD Limited has been suspected as a scam broker. According to the website, LQD Limited is providing financial services under the laws of the Marshall Islands Business Corporation Act. However, it doesn’t mean the company is regulated or licensed. 

• In fact, the Marshall Islands is an offshore zone attracting various firms that for one reason or another escape from serious regulation or compliance with international service providers.

Anyway, financial companies should be a very respected entities, as the statistics show that the majority of non-authorized firms never recovered the sums of clients’ investments. Therefore, we always advise avoiding offshore companies with no license as there are too many frauds around.

What is LQDFX?

LQDFX is an STP type of broker, which was established in late 2015. The broker claims to be one of the leaders in the FX industry, naming its numerous awards. LQDFX offers its clients forex pairs (including 7 majors, 21 minors, and 43 exotics). Traders also get an opportunity to trade precious metals, including gold, silver, palladium, and platinum, as well as multiple global stock indices, energy, and agricultural commodities. The broker offers flexible leverage up to 1:500 with the Micro account.

• However, based on our research, the website doesn’t provide the address of the company, there is only a British contact number, which means the company has been offering its services to UK residents without being authorized to do that. Most probably this forex broker is not under any regulation.
• Also, the company provides false information about the rewards it holds, including, Best ECN Broker (Find ECN Forex Brokers here), and Most Reliable Broker, etc.
• In addition, there are a lot of negative reviews that can be found on the forums about LQDFX. People share the horrible customer experience they had with the company and also state that they are not able to withdraw their funds from the broker.

Overall LQDFX Ranking 

Due to the regulation and safety issues, we found during our research of LQDFX , we do not rank positively LQDFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• LQDFX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

LQDFX Alternative Brokers

We found that LQDFX has a lot of issues, mainly in respect of its safety and customer care. Thus, here are much better Alternatives to LQDFX with tight regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• HFM – Good for Currency trading
• FP Markets – Good for CopyTrading
• FXTM – Good for Beginners

LQDFX in India

LQDFX allows Indian traders to open accounts and trade. However, LQDFX has no mention of complying with any Indian regulators on its website. 

LQDFX in the USA

As to the LQDFX activities in the US, the broker is not accepting clients from the US as it would mean opposing local laws or regulations. This means clients from the US cannot open an account with LQDFX (See Forex Brokers Accepting US Clients).

LQDFX Deposit & Withdrawal

In order to fund an account traders may choose among the following methods: Bank wire transfers, cryptocurrencies, Visa and Mastercard payment cards, plus Skrill, Neteller, FasaPay, and Load e-wallets.

• LQDFX has a minimum deposit of just $20 on their Micro account. This type of account is usually used for beginners (Forex Trading Platforms for Beginners), for those who just started getting to know the world of online trading. 
• The minimum amount that can be withdrawn is $100 for wire transfers, $20 for payment cards, $10 for Bitcoin, $30 for other cryptos, and $0-10 for e-wallets.

Apps

LQDFX offers mobile trading using a version of MetaTrader 4 designed for iOS and Android devices. The app supports several charting options and technical indicators, though fewer than the desktop version. The application retains much of the other functionality, including one-tap trading, interactive charts, market depth, and internal transfers.

Demo Account

LQDFX offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. Traders can use this demo account with a balance of $100 000 virtual money in order to be able to evaluate the benefits of the trading platform.

LQDFX Review Conclusion

Overall, it is advised to avoid trading with LQDFX due to its unregulated services and the high-risk operation which targets numerous clients. Dealing with an offshore broker most often carries a significant chance to fall under a scam operation. Therefore, we advise trading with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FBS.

• Overall ranking and experience for LQDFX is Negative

LQDFX Update

We discovered that the LQDFX website is unavailable. It is unclear whether the broker changed its name, or is gone altogether. Since money safety goes first, we recommend avoiding any proposals from LQDFX and staying alert in case of any proposals. 

Is AlphaCapital Scam or Legit Broker?

AlphaCapital has been suspected as a scam broker. This broker is blacklisted by a well-known regulatory authority and should be avoided. AlphaCapital is owned by Alpha Capital Securities Ltd which is an offshore company registered in the Marshall Islands. The Marshall Islands is notorious for its practically absent requirements and regulations. The setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex, and more.

What is AlphaCapital?

AlphaCapital claims its leading global brokerage positions while providing smart, secure trading solutions for investors at every level (Explore Top Forex Brokers' List). In addition, setting the bar higher with cutting edge, through tool-rich trading platforms, low latency, and superior liquidity provided by the leading institutions to trade Forex and Equity markets. AlphaCapital offers a wide range of trading options, including currency pairs, such as the EUR/USD; commodities, like oil or gold, and indices like the Dow Jones and the Nasdaq. 

• The broker is a trading name of the Alpha Capital Securities Ltd located in Tallin, Estonia while is regulated or authorized by none of the reputable organizations alike FCA (UK), BaFIN (Germany) (Also read about BaFin Regulated LegacyFX) or even the local regulator in Estonia. Moreover, the payment provider of the AlphaCapital is mentioned a Nostro Technology OÜ, based in Tallinn (Estonia), however, 'Nostro Technology OÜ is a subsidiary of FGM Technology Ltd', with offices in the Marshall Islands. However, the fact is that the Marshall Islands is an offshore zone, which does register the financial investment firm, but provides very poor if no requirements for the company's operation.

• While all establishments of the business and trading delivery seem to be highly suspicious, the reputable authority CONSOB and others issued a warning to the public due to their concerns about AlphaCapital too. 

• In addition to the official statement, the negative reviews from the traders confirm a suspicious questioning of the broker. Since the clients faced “sudden disappear” of replies or any concerns while the funds were requested to be withdrawn. Overall, we do not recommend trading with AlphaCapital and advice to choose among reputable firms to trust.

AlphaCapital in India

AlphaCapital allows Indian traders to open accounts and trade. However, AlphaCapital has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading in India is actually prohibited. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

AlphaCapital in the USA

The United States is one of the countries that is not accepted by AlphaCapital. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for AlphaCapital, you are only permitted to trade with the U.S regulated platforms.

Deposits and Withdrawals

Each account type (Also find another broker MEX Exchange's account types here) has its own minimum deposit requirements. However, the broker does not disclose the amounts that need to be deposited. 

Alpha Capital accepts a wide range of deposit methods, including bank transfers, and a variety of credit cards.

Alpha Capital provides payment options based on the deposit methods through which the account was funded. In the case of payment services such as Western Union or CashU, for which accounts do not exist, Alpha Capital will transfer your withdrawal amount directly to your bank account.

Apps

AlphaCapital's user-friendly mobile platform is compatible with both Android and Apple devices. The platform offers hundreds of available assets, live streaming quotes, and complete account management capability, enabling you to choose from multiple order types, and view your trading history and account status at a click Trade from any location, at any time, benefiting from a rich basket of tools and features, including professional interactive charts, advanced technical indicators and a selection of effective risk-management tools. 

Demo Account

AlphaCapital offers its traders a demo account that allows them to hone their trading skills on a free demo account. Traders can gain experience and familiarize themselves with all the valuable tools and features offered on the ALPHA CAPITAL platform, before opening a live account and investing for real in the global financial markets. Read about FBS Broker which also offers a Demo account here.

AlphaCapital Review Conclusion

In fact, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. 

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities such as UK brokers, Forex Brokers Australia or ASIC-regulated brokers in Australia, and reliable brokers such as FP Markets and TMGM.

AlphaCapital Update

Based on our findings, the AlphaCapital website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

Is AAFX Trading Scam or Legit Broker?

AAFX Trading is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Thus, the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

What is AAFX?

AAFX Trading is an investment company specializing in stocks, commodities, CFDs, and currency trading through its incorporated and registered office in St. Vincent and the Grenadines (SVG). However, SVG is a known area for its very liberal zone with a slight regulation of the financial companies compared to other reputable authorities that requires a way more strict compliance that ensures a higher level of clients’ protection.

• Moreover, the broker claims its incorporation and registration in Malaysia under the business solutions company SDN BHD and operation of the office in Hong Kong. Yet, there is no any other regulation that the company does comply with, therefore the company chooses the easiest and cheapest way to perform and deliver its financial services to international clients. Being unregulated in Hong Kong, the company appears in the SFC warning list that prevents clients from an investment with the AAFX Trading company (check warning here).
• Also, there are numerous negative reviews about the company's services, along with the guilty verdicts about the scam operation. The AAFX Trading clients faced typical fraud issues while trying to withdraw profits, the company gave numerous excuses why the request can not be performed. As well as the problems with trading manipulations, faking the facts of the requests, etc. All in all, problems like this prove that the company is not reliable, and clients may face capital losses, putting their investments at risk.

Overall AAFX Ranking 

Due to the regulation and safety issues, we revealed during our research of AAFX, we do not rank positively AAFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• AAFX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

AAFX Alternative Brokers

We found that AAFX has a lot of issues, mainly in respect of its safety and customer care. For this reason, we have come up with much better Alternatives to AAFX with tight regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• HFM – Good for Currency trading
• Dukascopy – Excellent for Shares, Futures Trading
• FXTM – Good for Beginners

AAFX Deposit & Withdrawal

AAFX offers fast and straightforward deposits. The minimum deposit is 100 EUR/USD. The broker offers a wide range of funding methods, so the clients can choose one that is more suitable for them or available in their location. Deposit methods include Credit/Debit Cards, and a range of e-wallets such as Skrill, Neteller, WebMoney, Fasapay, STICPAY, MoneyGram, etc. 

• For customers wanting to fund using a debit or credit card, we require a photocopy or scan of the front and back of the card, blacking out all but the last 4 digits of the card number when sending.

The withdrawal procedure is also quick and easy. For frequent withdraws some of the merchants like Neteller keep funds on hold for 7 days so this kind of withdrawal will process in 8 to 15 business days.

AAFX Deposit & Withdrawal

AAFX offers the popular trading platforms - MT4 and MT5.  Clients can trade on MT4 with no requotes, with flexible leverage ranging from 1:1 – to 2000:1. MT4 platform gives access to over 100 Instruments Including Forex, CFDs, and Futures, spreads as low as 0 pips, full EA (Expert Advisor) functionality, technical Analysis Tools with 50 indicators and charting tools.

The AAFX MT5 platform offers all the pioneering features that the AAFX MT4 has, enabling trading with over 1000 Instruments, including Stock CFDs, Stock Indices CFDs, Forex, CFDs on Precious Metals, and CFDs on Energies. Offered spreads are as low as 0.6 pips, over 80 Technical Analysis objects, and many other features. 

AAFX Review Conclusion

Based on our research results, we advise avoiding trading with AAFX. Instead, we recommend investing only with regulated brokers that are located among reputable jurisdictions and offer respective overseen investment services. Therefore, we advise trading with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and XM.

• Overall ranking and experience for AAFX is Negative