Lirunex Review 2023
With so many available Forex and CFD brokers online, choosing a broker to trade with can be a daunting task. But Lirunex seems to be a fast-growing newcomer that aspires for greatness, with a vision to become an industry leader based on transparent and trustworthy relations with our clients. The broker’s mission is to ensure clients’ satisfaction.
In this post, we reviewed the company’s brokerage services, examining its regulations, platforms, global access, registration, account options, leverage, trading fees, customer support, education, and reputation
Account Minimum Deposit: $/€ 25
Fees: Spread, swap charges
Best For: Both newbies and professional traders
Regulation and Security
Lirunexis a trading name of LirunexLimited, which is incorporated and registered in the Republic of Marshall Islands as an International Business Corporation and re-registered in the Republic of Maldives under the Companies Act of the Republic of Maldives (Law No.: 10/96) to operate Forex platform (Certificate No. FC00022020).Lirunex Limited is regulated by the Cyprus Securities and Exchange Commission(CySEC).
Negative Balance Protection
Lirunex offers all retail clients Negative Balance Protection. If your account slips into negative equity, Lirunex will set your account balance to zero and absorb the loss. Therefore, you cannot lose more money than you have invested.
Lirunexkeeps your funds in segregated accounts with regulated and trusted financial and credit institutions.
Is Lirunex available worldwide?
Lirunex Limited does not provide services to residents of certain jurisdictions such as the United States of America, Canada, Australia, Iraq, Iran, Syria, the Democratic Republic of Korea, Japan, and the Occupied area of Cyprus.
Lirunexprovides traders with desktop and mobile platforms. The supported trading platforms:
Lirunex’s main trading platform is the robust MetaTrader 4 trading platform, which is considered the gold standard in the industry. The platform boasts an intuitive and simple user interface with advanced trading features. It has nine timeframes and three chart types, plus more than 50 built-in indicators and tools to simplify the analysis.
Traders may also access more advanced trading tools with the help of plugins, allowing them to identify trends, calculate entry and exit points, and so on. The platform supports automated trading systems using Expert Advisors. The MT4 trading platform is available as a desktop application for Windows and Mac computers.
In addition to the desktop version, the MT4 trading platform is now available in a web-based version. The MT4 web trader online trading platform enables users to trade directly from a web browser without first installing an application on their local computer. It provides traders with a trading environment that is not only easy and attractive but also full of complex features that enable them to trade like pros.
The broker also provides the mobile version of the MT4 trading platform, which can be used to trade on iOS, Android, and Windows mobile devices. With the app, you may monitor your trading positions and access your trading accounts while on the go. The apps are free to download from the applicable app stores.
Mobile trading allows you to manage your accounts and trade from portable devices such as smartphones and tablet PCs. MetaTrader 4’s mobile trading platform offers customers a full trade account administration interface, a broad choice of analytical options, and a graphical representation of quote data.
When you are not on your trading desk and cannotmake use of a desktop computer or laptop, mobile trading terminals give a simple and convenient option for accessing your account, trading the markets, and managing your trades. You can keep up with the most current market moves, do market research, and participate in trading activities at any time, no matter where you are.
Other trading tools
The broker also provides traders with some other helpful trading tools, including the following:
Chills Trading is an auto-trading tool provided by Lirunex; it offers the easiest shot at entering the forex market like a pro. It allows you to automate your trading in the financial markets. Some essential features of the tool include the following:
- Trade automation
- Finding leading trading strategies
- Carrying out an in-depth and detailed analysis
- Building your portfolio. Repeat deals. Copy profit.
- Analyzing your account results easily
- 24/7 access through WebTrader
VPS service offers unrivaled market connection quality that depletes latency and allows you to execute your algorithms or trading methods continuously. You can constantly run automated trading strategies throughout theLirunex Trade platforms, MetaTrader4 (MT4), and partner APIs by utilizing theirvirtual private services (VPS). The available VPS services at Lirunex include the following:
ForexVPS servers are some of the most powerful; it gives you confidence that your VPS will maintain a constant connection to the forex markets. ForexVPShas a dedicated staff who are available 24hrs daily to help you setup your VPS, troubleshoot any issues, and even install 3rd party EAs and indicators should you require assistance.
Beeks provides a safe, scalable, and robust global platform that allows you to experience the full benefit of on-demand computing. The service sits on a diverse, private, low-latency WAN with secure connectivity to the leading cloud service providers.
Beeks has a unique self-service customer portal that facilitates the same-day deployment of a host of services and allows you to configure and order your servers.
Professional traders seeking to execute their unique algorithmic trading solution with the shortest feasible latency can benefit from the broker’s FIX API solution.Most professional traders use the FIX (Financial Information Exchange) protocol. It enables communication in realtime with traders, investment funds, brokers, and liquidity providers.
Clients have complete control over the data provided and obtained through the API, eliminating the need for third-party applications. Some key benefits of the FIX API include direct LP access, access to the real-time data feed, low-latency FIX API protocol execution, and access to a professional protocol in the finance industry.
Lirunexallows traders to choose the account type that is best suited for them from a choice of four live trading account options:
With a minimum deposit of $25, the LX-Standard is the broker’s most beginner-friendly account. It offers low floating spreads starting from 1.5 pips. The account allows traders to trade multiple financial assets with leverage of up to 1:1000.
This is an advanced trading account option at Lirunex. It provides essential trading features, including high leverage of up to 1:1000 and tight spreads as low as 1.0 pips. The account allows traders to trade multiple financial instruments on the MT4 platform. The minimum deposit required to start trading on the LX-Advanced account is $100.
The LX-Prime account is an advanced live trading account option that comes with several favorable trading conditions. The account has a minimum deposit of $200. It has a maximum leverage of 1:1000 and tight spreads starting from 0.0 pips. The main advantages of this type of account are lower spreads, VPS, access to multiple assets, scalping, hedging, and many other features. The LX-Prime account charges a commission fee of $8 per lot per side.
With a high minimum deposit requirement of $10,000, the LX-Pro account is the most advanced live trading account option, and it is designed specifically for traders with deep pockets. The account offers tight spreads as low as 0.0 pips. The maximum leverage is 1:1000. The LX-Pro account charges a commission fee of $4 per lot per side.
The broker provides traders with a Swap-free account. Muslim traders who don’t want to pay or receive swap fees can open a swap-free Standard account.
To open a trading account with Lirunex, click the “Create Account”button on the homepage of the broker’s website. You will be directed to the online application page, where you will be required to key in your name; provide your email, phone number, and date of birth;and create a password, as you can see in the form below:
After completing the form, the broker will require you to submit your means of identification (a government-issued ID) and proof of address (a utility bill or bank statement not more than three months old) to verify your account.
Deposit and Withdrawals
Traders can fund and withdraw funds from their Lirunex online trading accounts using secure payment methods, such asbank wire transfers, credit cards, and popular electronic payment systems.
Because of global money-laundering regulations, the person who holds the trading account must be the one who makes deposits and withdrawals, and they must be paid to the same person. A third party cannot process payments.
The transaction fees vary depending on the payment method, and some payment methods may not even be available in your country. So, you will need to contact the customer support team for more information.
Lirunexprovides traders with a generous selectionof financial instruments across different asset classes. The available trading instruments include 30 major FX pairs, 10 minor FX pairs, 2 precious metals, 2 commodities, 11 index CFDs, 6 crypto CFDs, and 48 stock CFDs. The multiple trading instruments allow you to diversify your portfolio to limit risks.
Commissions and Fees
Lirunex charges zero commission across the LX-Stadard and LX-Advanced trading accounts. The broker charges a commission fee of $8 per lot side on the LX-Prime and a commission fee of $4 on the LX-Pro account. There is an inactivity fee of $5.00 per month, starting after 90 days with no trading activity.
Leverage enables you to increase your position size by borrowing from the broker. Lirunex offers various high leverage of up to 1:1000, depending on the trading instrument.
But note thatwhile it helps you increase your potential profits, it can also magnify losses if misused.
Analysis and Education
There is a limited offering of educational resources on the broker’s website. The only available educational resources include a news section and an FAQ that answers some of the clients’ most common questions.
Lirunex provides clients with a client support team who are available to respond to their general, technical, and account-based inquiries. The support team can be reached via various contact channels, including live chat, email, telephone, and social media.
Reputation amongst Traders
The broker’s services have received a lot of feedback on a range of trading websites and forums, some of which have been positive and some of which havebeen negative. For instance, it scored 1.7 out of 5 stars on Trustpilotbased on the reviews of 17 customers. Some investors praised the broker for having such an experienced support staff. On the other hand, other customerscomplained about how difficult it was to withdraw.
Lirunexhas won several industry awards, including the Traders Awards Best Broker In Thailand 2022, Fastest Growing Forex Broker Asia 2022 by World Business, Fastest Growing Forex Broker Asia Pacific Lirunex 2021 by Global Brands Magazine, and many others.
Can beginners trade with Lirunex?
With a demo account and a minimum deposit of $25,beginners may be able to trade with the broker. But there are a few learning resources on the broker’s website.
Lirunex is a fast-growing trading broker that provides traders with various products, tools, and technology to ensure the ease of trading all the available financial instruments. It offersmultiple account options, zero commission charges on some account options, and, high leverage. With a minimum deposit of $25, the broker makes it easy to test the waters; however, it only has a tier-3 regulation.