Lirunex Review 2024
Website: www.lirunex.eu
Min. Deposit: US$ 500
Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC
Headquarters: Cyprus
Founded: 2017
Regulatory Licenses:
- Lirunex Limited - authorized by CySEC (Cyprus) registration no. 338/17
- Lirunex Limited — authorized by GLOFSA (Marshall Islands) registration no. 10268
Updated on February 12, 2024
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Lirunex is a Forex Brokerage and investment firm based in Cyprus, offering trading in FX and CFD instruments. With a global footprint, Lirunex aims to provide top-notch brokerage services, underpinned by its CySEC license and regulatory framework, ensuring a commitment to excellence in its operations.
Lirunex stands out as a trustworthy broker, featuring straightforward account opening procedures, an array of supported funding methods, and trading conditions that are on par with industry standards, including quality platforms and educational materials. Spreads are competitive, aligning with industry averages.
Pros
Easy account opening process
Multiple funding methods supported
Competitive trading conditions and spreads
Cons
Limited to Forex and CFDs in terms of instruments
Educational resources could be improved
Lirunex Review Summary in 12 Points ▲
Headquarters: Cyprus
Regulation: CySEC
Instruments: FX pairs, CFDs on metals, commodities
Platforms: MT4
EUR/USD Spread: 1.5 pips
Minimum deposit: US$500
Base currencies: USD, GBP, EUR
Demo Account: Available
Education: Courses, data analysis, strategy guides
Customer Support: 24/5
Lirunex presents a solid broker option, boasting a competitive offering and modest fees, with a presence that spans the globe. The broker facilitates trading with a decent assortment of FX and CFD instruments, across various account types tailored to specific trading preferences. Derived from our extensive testing and in comparison with over 1000 brokers, Lirunex's Overall Ranking is an impressive 7.8 out of 10.
Lirunex is indeed a regulated broker and not a scam. With regulation from CySEC, the broker is deemed a low-risk investment option. Being authorized by CySEC and other European financial entities ensures that investors can allocate their funds with confidence, knowing they are dealing with a transparent and regularly monitored firm.
Operating under the trading name of a Cypriot Investment Firm, Lirunex is duly authorized by the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight signifies that the broker operates with transparency and is subject to continuous supervision by the authority, ensuring a safe trading environment. While Lirunex also holds regulation in the Marshall Islands for global reach, it is advisable to be cautious with registrations under offshore entities due to the potential for higher capital loss risks. Conclusion on Lirunex reliability: Our Trust Score for Lirunex is 7.9 out of 10, indicating a trustworthy establishment with a high level of investor protection, under the licensure of a tier-2 financial regulator.
In line with regulatory requirements, Lirunex, alongside other CySEC brokers, operates client accounts under transparent conditions, segregating client funds from the company's own resources. In the unlikely event of company insolvency, clients are protected by a compensation scheme as per CySEC guidelines. Furthermore, as a European regulator, CySEC adheres to the standards set by the ESMA and MiFID directive, benefiting traders. Additionally, Lirunex's cross-border license facilitates legal trading opportunities for clients in the EEA zone and beyond.
Financial leverage is a critical tool in the arsenal of forex traders, allowing them to amplify their investment returns through the use of borrowed capital. Leveraging amplifies both potential gains and risks, as it causes changes in asset values to have a more significant impact on the trader's capital. Lirunex offers varying levels of leverage depending on the regulatory entity under which a trader operates, the type of account they hold, and their level of trading expertise. Retail traders can access leverage of up to 1:30 for major currency pairs, 1:20 for minor pairs, and 1:10 for commodities under CySEC regulation. For those trading under the jurisdiction of the Marshall Islands, Lirunex extends the possibility of utilizing leverage up to 1:500. Moreover, Lirunex presents a professional offering through its higher-grade account types, which are reserved for confirmed professional traders and come with conditions for even higher leverage.
Lirunex has crafted three distinct account types to cater to the varied needs of its clientele, with each offering unique deposit requirements and spread options. The quality of trading conditions improves with the grade of the account, ensuring that traders can select the option that best suits their trading strategy and financial goals. Below is a brief overview of these account types, highlighting their conditions, deposit requirements, and a general comparison to aid traders in making an informed choice.
Lirunex acknowledges the importance of practice in trading, especially for beginners. To this end, it offers a demo account that simulates real trading conditions in a risk-free environment. This allows novice traders to hone their skills and develop strategies without the fear of losing real money. The Lirunex demo account is available for a period of 30 days, giving users ample time to familiarize themselves with the trading platform and its features.
Lirunex prides itself on providing a robust trading offering that caters to the diverse needs of its investors. It features a wide range of account types, a popular trading platform for order execution, and flexible trading conditions. The selection of trading instruments includes a vast array of FX pairs, along with CFDs on metals, commodities, and other assets, all of which are available for trading with instant STP order execution. Lirunex's market range score stands at a commendable 8.1 out of 10, reflecting its extensive selection of trading instruments. This comprehensive offering ensures that traders in Europe and internationally have access to a broad spectrum of markets.
Lirunex implements a fee structure that is tailored to the specific account type, with fees either incorporated into the spreads or charged as commissions. Traders should be mindful of funding and inactivity fees in addition to the regular trading fees. Each trading instrument is subject to its own overnight fee or swap, which is an important aspect of Lirunex's trading fee structure to consider. The fees charged by Lirunex are competitive when compared to a pool of 1000 other brokers, with a ranking of 7.8 out of 10. This ranking is indicative of Lirunex's position as a generally favorable option in terms of cost, though traders are encouraged to review the full fee structure to ensure it aligns with their trading strategy and financial objectives.
Lirunex offers a variety of spreads depending on the account type, with a focus on providing competitive trading conditions across the board. The spread starts at 1.5 pips for the Standard account, improving to 0.7 pips for the Advanced account, 0.5 pips for the Premium account, and reaches its optimum at 0.3 pips for the Pro account. It is important to note that these are variable spreads and come with no commission charges. When compared to other brokers in the industry, Lirunex's spreads for the Standard account are slightly higher than the average, particularly for the EURUSD pair which typically averages at 1.2 pips. The spreads for other instruments also tend to be on the higher side.
Lirunex supports various payment methods including Card Payments and Bank Transfers, with plans to expand their offerings to include Neteller, Skrill, and China UnionPay. The broker's funding methods provide a mix of convenience and flexibility, albeit with a higher minimum deposit requirement than many competitors. The first minimum deposit for a first-grade account type is set at $500, which is consistent with many other brokers in the market. However, Lirunex distinguishes itself by not charging fees for the majority of its deposit and withdrawal options, although card payments are subject to a 1.5% charge. It's also worth noting that additional fees may be applied by payment providers due to international policies, so it's advisable to check all conditions beforehand.
Lirunex has chosen to streamline its trading platform offerings by focusing on the widely recognized MetaTrader4 (MT4). This decision leverages the platform's robust functionality and widespread adoption among traders globally. MT4's comprehensive suite of tools and features supports a wide range of trading strategies, from beginner to professional levels, and does not restrict the use of Expert Advisors (EAs) or automatic trading robots. While the platform's industry-standard status is a strong point, the lack of alternative trading platforms might be considered a limitation for traders seeking newer or more sophisticated trading environments.
In conclusion, Lirunex presents itself as a capable broker offering quality trading opportunities for both novice and experienced traders. The broker's range of account types, competitive fee structures, and positive client feedback stand out as key advantages. Additionally, Lirunex's regulatory compliance with the European CySEC provides reassurance of its reliability, despite also operating under an offshore entity in the Marshall Islands. Based on our comprehensive review, Lirunex is well-suited for a variety of traders, including those interested in FX and CFDs trading, international traders, those employing diverse trading strategies, MT4 users, commodities trading enthusiasts, and users of Expert Advisors.
