LidyaTrade, also known as LidyaForex and LidyaFX, is a CFD brokerage company established over 10 years ago. The firm offers online trading of over 200 instruments, including currency pairs, commodities, stocks, and cryptocurrencies through the well-known MetaTrader 5 (MT5) platform. The company claims to be a global market maker. However, the number of trading assets offered is different on each banner page.
According to the contract with the client, Lydia Trade is incorporated under the laws of St. Vincent, but is headquartered in Bulgaria. The firm claims to be registered with the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) and to have filed with the Financial Conduct Authority in the UK, but there is no evidence of this. Many businesses choose to register in countries like St. Vincent and the Grenadines to avoid the stricter financial regulations, so keep that in mind if you plan to trade through LidyaTrade.
LidyaTrade offers online trading through the MetaTrader 5 platform. MT5 is one of the most popular and widely used trading platforms worldwide. It can be used in any browser or downloaded as a desktop or mobile app. MT5 is comprehensive and highly customizable. Users have access to multiple timeframes, a wide variety of instruments and market depth information (Level II quotes).
There are two account types available at LidyaTrade:
Standard: The Standard account requires a minimum deposit of USD 300. Leverage can be up to 1:200 and spreads start at 1.0 pips. This account has access to micro lot trading (0.01 lots) and uses the STP execution method (according to the company).
Gold: The Gold account requires a minimum deposit of USD 500. The minimum instrument spread is 0.7 pips, and the maximum leverage can go up to 1:200. This account also allows micro lot trading, and the company claims to use an STP order execution model.
Full information about the assets offered is not available from the LidyaTrade website, although the company advertises over 1,200 tradable assets (somewhere on the site 200, and somewhere 700). These include CFDs on currency pairs, indices, metals, stocks, and cryptocurrencies.
Currency Pairs: LidyaTrade offers all major currency pairs as well as many minor and exotic pairs.
Indices: You can trade several US and European indices, including the S&P 500, NASDAQ 100, and DAX 40.
Metals: Precious metals such as Gold, Silver and Palladium are available for trade.
Commodities: Several of the most popular commodities are available on LidyaTrade, including Oil, Natural gas, and Wheat.
Shares: The company offers a range of CFDs on shares of US companies.
Cryptocurrencies: CFDs on popular cryptocurrencies like Bitcoin and Ethereum are also available.
Deposits and withdrawals can be made via bank transfer, credit, and debit card, WebMoney, Bitcoin or Perfect Money. Withdrawals from trading accounts are processed within three business days. Please note that bank transfer fees may apply.
In addition to spreads, LidyaTrade also charges an inactivity fee. If there have been no transactions (trades, withdrawals, and deposits) on your account for six months, it will have an inactive status. Inactive accounts are charged a monthly fee of USD 5 on the remaining account balance until the balance is zero, at which point the account will be closed.
An economic calendar containing important upcoming economic events can be found on the site. There is also a technical analysis page that contains several dials showing buy/sell sentiment for some important instrument using information from TradingView.