Lquid Finance T/A Lquid Pay has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services". Lquid Pay claims to offer cryptocurrency payment cards in New Zealand, but it is not registered to provide this service in New Zealand.
Lquid Pay has claimed on social media that:
it is fully compliant with New Zealand’s laws, and
it holds a registered New Zealand trademark.
The FMA request... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Lquid Finance T/A Lquid Pay has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Lquid Finance T/A Lquid Pay said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Demo account available|Segregated accounts|Multi-currency support|API access
Cons: Spreads widen during volatile periods
For anyone considering Lquid Finance T/A Lquid Pay, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Lquid Finance T/A Lquid Pay is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
The reporting at Lquid Finance T/A Lquid Pay is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Comprehensive tools|Regular platform improvements
Cons: Could offer more webinars|Onboarding videos are outdated
I joined Lquid Finance T/A Lquid Pay based on a colleague's recommendation and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: High security standards|Excellent charting
Cons: Currency conversion fee exists
I want to warn everyone about Lquid Finance T/A Lquid Pay. They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive