Editor’s Note: Why LiquidityX Doesn’t Suck In 50 Words
I like brokers who understand that different types of traders need different things and who try to offer something for everyone. In this regard, LiquidityX offers two types of platforms: a WebTrader that’s easy to pick up and use even by beginners and a more advanced platform, widely considered the best in the business – Meta Trader 4. This way everyone’s happy and everyone can use the appropriate platform for their skill level and trading style.
Why LiquidityX Sucks In 50 Words
The minimum deposit of 250 EUR is a bit high for someone who is just looking to “get the feet wet”. Now, this shouldn’t be a problem for a more seasoned trader who understands that you need a bit of capital to keep the account afloat in times when drawdowns happen (and they do happen). It is my strong opinion that total beginners should stick to Demo accounts until they are consistently profitable, but there you have it: minimum deposit too high and ThatSucks for beginners.
Is LiquidityX A Scam?
The broker itself doesn’t have a very long track record and actually the exact launch date is not known, which is a point that should be addressed by LiquidityX. However, the owning company is licensed since 1994 by the Hellenic Capital Market Commission (HCMC), which should give traders enough confidence.
There’s not much internet buzz around this broker, possibly due to its “green” age, but what we did manage to find was positive, which leads us to believe we are not dealing with a scam broker. That being said, always pay extra attention whenever money is involved and keep in mind that this applies to all brokers, not only LiquidityX.
Should I Open An Account With LiquidityX?
LiquidityX is a new and regulated broker that offers CFD trading on various assets such as currencies, stocks, indices, commodities and more. The owning company is Capital Securities S.A, a Greek Investment Firm, authorized and regulated by the Hellenic Capital Market Commission (HCMC) with licence number 2/11/24.5.1994. The Company is registered in Greece under GEMI with register number 31387/06/Β/94/18 and offers services within the European Economic Area (excluding Belgium) and Switzerland.
The broker offers a clean website, with information that’s easy to access and well-structured. But besides a functional website, traders need great trading platforms and this is where LiquidityX does a good job. The available platforms are WebTrader and Meta Trader 4, each catering to a specific trader type.
WebTrader is a fully web-based trading platform and charting package, which doesn’t require any download or installation. It can be accessed from any desktop device with an internet connection and offers all the necessary tools for beginners and medium-level traders. However, if you need advanced order types, more technical indicators, more drawing tools, or if you want to use Expert Advisors, you can freely download and install Meta Trader 4. And I say “freely” because although this by far the most popular trading platform of the last decade, some brokers lock it behind huge deposit requirements. Not the case with LiquidityX – you can use MT4 even with the lowest account.
And speaking of accounts, here they are: Basic – minimum deposit 250 EUR; Gold – minimum deposit 25,000 EUR; Platinum – 100,000 EUR; VIP – 250,000 EUR. This is a bit prohibitive for basically anyone but professional traders and rich people. I get the minimum of 250 EUR, which is actually good because this way your account can weather some drawdowns but the next account level is too far away.
So you might be wondering what you get for depositing 100 times more. Well, you get a spread discount from 3.2 pips to 2.9 pips (floating spreads for EUR/USD at the time of writing) and 1 monthly free withdrawal. That, in my opinion, is not worth investing 25K EUR but in a way it’s good for Basic account holders because they can use the same features (minus the spreads and free withdrawal) as a guy who invested 100 times more.
As far as education goes, LiquidityX offers trading e-books, CFD strategies, a few articles about technical and fundamental analysis as well as information about margin and leverage. Traders can also use a glossary, economic calendar and insights from Trading Central, which are not strictly educational materials but certainly come in handy.
As a whole, LiquidityX looks and feels like a professional venue, that caters to different types of traders. The platforms and website are functional, with short loading times and no delays when it comes to placing orders (a Demo account was used for testing purposes). The spreads are on the high side and the account structure is geared towards professional traders but the lowest account suits well the needs of most traders.
Capital Securities S.A. is registered at 58, Metropoleos Street, 105 63, Athens, Greece. LiquidityX can be contacted at phone +30 21 1199 5046 and email [email protected].
This broker is fairly new, as mentioned before, so we couldn’t locate a lot of user reviews online. The good news is that we didn’t find any complaints or horror stories. LiquidityX is rated 3.7 out of 5 stars on Trustpilot but only has 2 reviews and on ForexPeaceArmy they only have one user review, although it’s a positive one.
LiquidityX Regulatory Warnings and Announcements
The Hellenic Capital Market Commission (HCMC) did not issue any warnings or fines against LiquidityX or the owning company Capital Securities S.A. As always, we will update this review if anything of the sort pops up on our radar.
The withdrawal methods are credit/debit cards and wire transfers but e-wallets are only mentioned in the FAQ section. For VIP account holders every withdrawal is free; Platinum account holders benefit from 3 free withdrawals each month and Gold account members can make one withdrawal for free each month. Basic account holders can only make one free withdrawal. The processing time is 24 business hours and it may take up to 5 business days for the funds to arrive to your account.
Economic insights, analyst views, daily market analysis and more, all provided by Trading Central, plus analyst views and recommendations from TipRanks. Good extras, considering that Trading Central is widely considered one of the best in the business.
User Friendliness 18/20
The website is translated in 9 languages, with easy to access information and a friendly layout. The trading platforms are suited to beginners and advanced traders alike, demo accounts are available but this broker doesn’t accept US clients.
Range of Markets, Spreads and Leverage 18/20
LiquidityX offers over 100 assets tradable as CFDs, including currencies, cryptocurrencies, stocks, ETFs, indices and more. It’s a wide asset basket that will satisfy the needs of most traders. The leverage goes up to 1:30 for retail clients, as per European regulations, but it can go up to 1:400 for professional clients. The spreads are high, at 3.2 pips for EUR/USD for the Basic account.
Deposits and Withdrawals 18/20
The available methods are credit/debit cards and wires and although the FAQ mentions e-wallets, we cannot confirm this method because it is not mentioned in their other documents. The General Fees document mentions a 3.5% fee for card withdrawal and a 30 USD/EUR/GBP fee for wires. The processing time is fast, with only 24 business hours and the minimums are fair, at 100 EUR for wires and no minimum for cards.
Fees and Support 18/20
After a month of inactivity the client will be charged an 80 EUR fee monthly, which is quite a lot, so you will have to keep an eye on your account and not let it become inactive. The fees for withdrawals are average for the industry, at 3.5% for cards and 30 USD/EUR/GBP for wires. Support is available via live chat, email and phone.
Trading Central analyst views, daily market analysis, economic insights, and more. Recommendations from TipRanks, economic calendar, e-books and more. Overall a nice collection of extra features.
LiquidityX Overall Ratings (90) + Regulated (+3) = 93/100