Yes. And a new platform “coming soon.”
-To replace Meta, no doubt.
2 Likes
Yes, and that’s why they didn’t directly answer the question like they did a month ago
1 Like
FWIW the rep who took my call when I responded to the voicemail they had left Saturday morning (4/27/24) started by saying that many clients were having trouble using the Android and iPhone versions of MT4, and this was the reason they had arranged to be acquired by PlexyTrade. I didn’t ask what kind of problem it was, since I don’t trade on my phone. But my point is that the rep seemed to be implying that they were trying to do something that would allow customers to use MT4 on their phones. If there were issues with their MetaQuotes license, I would think it would affect all platforms.
In any case, I specifically asked if the MetaQuotes license is secure, and she said yes. That sounds like a direct answer to me. And she added that PlexyTrade would offer MT5, in addition to MT4 (LDQFX only offers MT4).
I just re-read the “LQDFX Important Notice” sent to account holders by email, which MarkIn Tin posted. It clearly says that PlexyTrade will offer both MT4 an MT5 with “Web and Mobile Apps included”. There is no indication that the “New Next-Gen Trading platform (coming soon)” mentioned on the next line is to replace MT4 and MT5.
OTOH why didn’t the chat rep give SmallPaul a straight answer to this question:
james: will MT4 Still be available for U.S. Clients with PlexyTrade
Harris: Kindly contact [email protected].
This does create some doubt for me.
1 Like
Later today, I will replace the LQDFX listing (in post #1) with notes on their pending acquisition by PlexyTrade, and the upcoming migration of client accounts.
1 Like
Upon reviewing PlexyTrade account offerings and deposit methods, it appears to be very similar to lqdfx, with the only difference being leverage. LQDFX and PlexyTrade could be the same, I don’t mind this as BS regulators put a lot of pressure on offshore brokers.
1 Like
The person i spoke with confirmed multiple times on the call that Plexy was not going to interfere with day to day. I’m crossing my fingers they follow through post May 6th, and this wasn’t all a flim flam operation to keep desposits in house.
1 Like
Just like Hanko with Fyntura, I think LQDFX should be removed from “Trusted Broker” status until Plexitrade proves themselves as a separate entity.
1 Like
You might want to play it safe if that’s on your mind
just emailed them and this was their response
Thank you for contacting LQDFX.
Please be advised, that no trading accounts can be created at this point in time as we are going through company changes.
We remain at your service.
Kind Regards,
-Perhaps. But we also saw how other brokers handled their ‘loss of licenses’. They lied about it, and continue to lie about it, even after the fact.
If LQDFX knew that they were going to lose their license (most do, beforehand), then what better time to retire and close up shop? Not all brokers are willing to continue on without Meta, and we have seen just how resistant to change LQDFX has been over the years.
Find a broker that is willing to buy you out in exchange for your client-base. Lie to clients so that the transition goes smoothly and then disappear off of the map. If the new broker loses their license and drops meta, then LQDFX will not be held accountable for that, and they know that.
No matter what the real truth is, we objectively know that Meta is cracking down on any unregulated entity that accepts US clients. Knowing that fact, any decision to trade with a new broker should be done so with that in mind. Do not fully-trust what any broker tells you.
As SmallPaul noted, better to withdraw profits and wait it out for a bit to see what happens first.
3 Likes
LQDFX should be removed from “Trusted Broker” status until Plexitrade proves themselves as a separate entity.
Makes sense
You guys already knw how i feel about lqdfx but I always kept real.
LQDFX have been around for over a decade and made some good money as a broker, and now they are telling you that they are being acquired by an unknown broker with no history and no major parent company backing them.
Which is more likely, LQDFX acquiring PlexyTrade or PlexyTrade acquiring LQDFX
In my opinion, lqdfx was affected by either Metaquote or U.S. regulators as they have done with fxchoice and tradersway
2 Likes
I left $100 in my account to keep it open, but that was weeks ago.
The gentleman I spoke with yesterday is someone that has called before. Long before the metaquotes problem.
He said the reason for the changes was meta quotes refused to come to an agreement, and no longer wanted white label brokers using their platforms.
Then, the acquiring company wanted to be involved with forex, and was letting LQDfx operate as before. Plus, adding new products.
It’s either flim flam to steal or they’re for real, which we’ll know the morning of May 7th.
What bothers me about cash & dash, we talked for twenty minutes. It made no sense to call an account owner with only $100 remaining, in the first place.
Much less go over the details of potentially fake improvements.
2 Likes
1 by 1 they are dropping like dominoes. Once Coinexx & Eagle eventually lose their meta licenses too, I will officially be done with offshore. The CFTC has won… 7 years later than they would have if it wasn’t for crypto payments saving the day and extending the leash.
2 Likes
You got a little more information than I did.
But a few things in your post confuse me:
-
Referring to white label brokers, do you mean that LQDFX has been using another broker’s platform, and the other broker has the master contract with MetaQuotes? Is this what the rep indicated?
-
Are you thinking that if they were scammers they wouldn’t bother to call someone with only $100 in his account?
-That sounds about right. Oftentimes, the best lies are sprinkled with small truths.
1 Like
The fact that they are trying to prevent customers with $100 accounts from withdrawing money is definitely a red flag.
-I have already made the decision to move to futures. I have personally found that it really is not that different at all. The claims that there is a big learning curve or that you need large capital is simply not true. Perhaps it used to be true, but not anymore. Knowing what I know now, I see no reason to stick to FX, but I trade NAS exclusively.
1 Like
-Not likely. Meta offers white label services directly to brokerages.
1 Like