LidyaTrade HeadlinesPlatformsAssetsAccount TypesFeesPayment MethodsEducationRegulationCustomer SupportPros Of LidyaTradeCons Of LidyaTradeLidyaTrade VerdictAccepted CountriesAlternatives to LidyaTradeFAQ
LidyaTrade, which also goes by LidyaForex and LidyaFX, is a CFD broker and market maker. The firm boasts over ten years of experience and over 1,200 tradable instruments, including forex, stocks, commodities and crypto. This 2022 LidyaTrade review will cover all important aspects of trading with this firm including pricing, regulation status and more.
LidyaTrade Headlines
LidyaTrade Ltd. is an ECN broker with an address in Birmingham, UK. The firm claims to have been operating for over ten years and has more than 5,400 active traders.
The broker offers a range of account types and tradable assets, as well as regular promotions and educational materials. The firm’s servers are located in Europe and guarantee fast execution, as well as same-day deposits and withdrawals.
The broker also goes by LidyaFX in Turkey. The firm’s old site address was Lidyafx25.com and links to this site are now broken. If you find one of these links, for example when looking at documentation online, simply replace “lidyafx25” with “lidyatrade” and you will be directed to the correct website.
Platforms
LidyaTrade’s sole platform is MetaTrader 5. MT5 is one of the most popular and widely used trading platforms worldwide. It can be used on any browser or downloaded for free as a desktop or mobile application.
The MT5 platform is comprehensive and highly customisable. When compared to its predecessor, MetaTrader 4, users have access to additional timeframes, a larger variety of tools and depth of market (DOM) pricing. There are hundreds of indicators and charting tools available, as well as the ability to run expert advisors (EAs) for automation and backtest algorithmic strategies. MT5 will also stream live market analysis and economic news to your dashboard.
The MT5 mobile app is extremely well-developed and contains all the same features as the desktop version. Using the app has the added security of fingerprint or facial biometric identification.
Assets
A full breakdown of assets and products is not available from LidyaTrade’s main website but the company does advertise over 1,200 tradable assets. These products include CFDs on currencies, equities, precious metals, cryptos and indices, as well as options and futures contracts.
Equities: The firm offers a range of US company stocks.
Metals: Precious metals like gold, silver and palladium are available to trade.
Cryptocurrencies: Popular cryptos like Bitcoin and Ethereum are also available.
Indices: You can trade on a range of US and European indices, including the S&P 500, NASDAQ and DAX 40.
Commodities: Several of the most popular commodities are available on LidyaTrade, including oil, natural gas and wheat.
Currencies: LidyaTrade offers all the major currency pairs as well as many minor and exotic pairs. These include EUR/USD, GBP/USD, USD/JPY, USD/TRY, EUR/TRY and USD/CAD.
Account Types
There are two account types available at LidyaTrade:
Standard: The Standard Account requires a minimum deposit of $300. Leverage is capped at 1:200 and spreads start from 1.0 pips. This account has access to micro lot trading (0.01 lots) and uses an STP execution method.
Gold: The Gold Account requires a minimum deposit of $500. Spreads start at 0.7 pips and leverage is similarly capped at 1:200. This account also allows for micro lot trading and has STP execution with an execution speed of 0.01 seconds.
MetaTrader 5
A swap-free account is also available for those unable to pay or receive interest. An Archived account is defined as an inactive trading account with no financial and/or trading activity for 90 calendar days. This account will not be terminated but you will need to contact customer service to have it reactivated.
Demo Account
A demo account with LidyaTrade is available on MT5. This account is loaded with $10,000 in virtual funds and gives users access to free forex training. The market data and trading environment is a simulated copy of real-world markets and produces a risk-free, real-time practice platform.
Fees
Aside from the spreads, this review could not ascertain whether other costs are charged at LidyaTrade, besides swap charges for non-Islamic accounts. If there have been no transactions (trading, withdrawals & deposits) on your account for six months, it will be made dormant. Dormant accounts are charged a monthly fee of $5 on the remaining balance of the account until the balance is zero, at which point the account will be closed.
Payment Methods
Deposits and withdrawals can be made via bank wire transfer, credit card & debit card (Visa or Mastercard), WebMoney, Bitcoin or Perfect Money. Withdrawals from trading accounts are processed within three business days and bank transfer fees may be charged where applicable.
Education
LidyaTrade has limited educational materials available on its website. These materials include an introduction to forex trading as well as several trading definitions. The firm claims to offer free forex training to any user, including demo account users.
An economic calendar is available on the website, containing important upcoming news events. There is also an article page that does not seem to be regularly updated and a technical analysis page that contains several dials indicating a buy/sell sentiment for some important markets.
LidyaTrade Market Analysis
Regulation
According to the client agreement, Lidya Trade is incorporated under the laws of Saint Vincent and has its registered office at Dyadovsko Village 6705, Providence of Kardzhali, Municipality of Chernoochene, Bulgaria.
The firm claims to be registered with the Financial Services Authority of St Vincent and The Grenadines (SVGFSA) and to have made an application with the Financial Conduct Authority in the UK but we could not find any record of either of these claims.
Many firms choose to register themselves in countries like St Vincent and the Grenadines to dodge tighter financial regulations, such as leverage caps. If you are planning on signing up with LidyaTrade, ensure you are confident with the services you are being provided, the pricing structure and that you will be able to promptly contact customer support if something goes wrong.
Customer Support
The LidyaTrade customer support team is available Monday to Friday, 24 hours a day. You can get in touch via email, telephone or live chat. We found the live chat feature to not be as responsive as some other brokers. You can also submit a ticket on the website and the team should get back to you within one working day.
Email Address: support@lidyafx.com
Phone Number: +44 20 369 533 84
Pros Of LidyaTrade
MT5 access
Decent leverage
Competitive spreads
ECN market execution
Crypto & options trading
Over 1,200 tradable assets
Range of payment methods
Cons Of LidyaTrade
Limited educational resources
Unresponsive live chat
Offshore registration
LidyaTrade Verdict
LidyaTrade seems to offer attractive trading conditions with spreads as low as 0.7 pips, high leverage rates and over 1,200 tradable assets available. However, offshore registration and some unclear corporate information means that it is hard to trust this firm wholeheartedly. Before signing up for any broker, it is essential to carry out thorough research and compare it with the competition. This way, you will ensure you are not falling for a fraudulent firm.
Accepted Countries
LidyaTrade accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Alternatives to LidyaTrade
If you are looking for alternatives to LidyaTrade we have compiled a list of the top 5 brokers that are similar to LidyaTrade below. This list of brokers like LidyaTrade is in order of similarity and only includes companies that accept traders from your location.
Pacific Union – Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and educational services.
LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
FAQ
What Is LidyaTrade?
LidyaTrade is a forex and CFD broker registered in St Vincent and The Grenadines. The firm offers two account types, over 1,200 tradable assets and a free demo account loaded with $10,000 in virtual funds.
What Assets Are Available On LidyaTrade?
With LidyaTrade you can choose from over 1,200 CFD instruments encompassing forex, metals, indices, commodities, cryptocurrencies and US stocks.
What Is The Minimum Deposit With LidyaTrade?
There are two account types with LidyaTrade: Standard and Gold. The Standard account has a minimum deposit of $300 and spreads start at 1.0 pips. The Gold account requires a minimum deposit of $500 and spreads start at 0.7 pips.
Is LidyaTrade Safe?
LidyaTrade is a registered company in St. Vincent and The Grenadines. The firm claims to be awaiting regulation from the FCA in the UK but, for now, we can say that it is unregulated. Trading CFDs, especially using leverage, will always be a risk. Ensure you have carried out thorough research and never invest more than you are willing to lose.
What Payment Methods Are Available On LidyaTrade?
LidyaTrade offers several methods including bank wire transfer, Visa, MasterCard, WebMoney, Bitcoin and Perfect Money.