Independent Review - Lirunex
Easy money is a contradiction of terms. Essentially there is no such thing as easy money, unless you somehow inherit it or find it lying in the street. Neither scenario is very common.
Yet many online brokers continue promising easy results and fat paydays if you trade with them. The fact is that trading requires dedication, knowledge, and an edge. It also requires a trustworthy broker that can help you find that edge.
Lirunex is a regulated broker that’s been operating since 2017. They continue to grow their client base, and now we want to take a closer look at their operations and see if they are worth trading through or not.
Lirunex was founded with a philosophy of creating client loyalty through the presentation of excellent trading services and unmatched professionalism. Nice thoughts, but does the broker live up to its own mission? We will see.
Lirunex operates through its headquarters in Cyprus, which also means it can deliver the security and compliance requirements that meet European standards. The broker also holds licenses in offshore jurisdictions in order to provide global services.
Offshore regulations do not inspire much trust for us, but the CySEC regulation offers European operating requirements and is sufficient to consider Lirunex a secure broker for those working under the CySEC regulatory framework.
As far as the trading service, Lirunex offers its clients three different types of accounts, which covers pretty much any trader requirements. They have all the popular assets on offer, but not nearly as many as some competing brokers. They also have favorable fees and trading conditions.
Lirunex has authorization and regulation through the Cyprus Securities and Exchange Commission, also called CySEC. This regulation complies with European standards as outlined in the ESMA and MiFiD requirements. This ensures for transparent operation, and safety for Lirunex clients.
The broker is required to maintain a minimum capital of 125,000 euro and can be heavily fined in the case of misconduct, which helps to maintain a safe trading environment. European regulations also require that all client funds are kept segregated from the operating funds of the broker, and that there is negative balance protection on all client accounts.
Furthermore, Lirunex is a member of the Investor Compensation Fund, which covers losses of up to 20,000 euro in the event the broker becomes insolvent.
Lirunex offers three separate account types to satisfy the needs of any trader. The graphic below gives more details regarding the conditions for each account type, including the minimum deposit required at each level.
Lirunex brings its clients access to all the popular asset classes, although many brokers do have a larger offering. Traders can avail themselves of the following:
Forex – Forex trading is one of the most popular asset classes in the CFD ecosystem. Lirunex provides a wide range of 40 different currency pairs, including major pairs, minor pairs, and even some exotic pairs available 24/5 to traders,
Indices – Traders can gain access to global exchanges by investing in 14 of the world’s most popular equity indices, such as the U.S. Nasdaq 100 and S&P 500, the European DAX 30 and CAC 40, the U.K. FTSE 100 and China A50.
Precious metals – Both Gold and Silver commodities are available for trading, with various conditions depending on Lirunex flexible account types such as LX-Standard, LX-PRIME and LX-PRO
Energies – Both global benchmarks, the UK Brent and the U.S. WTI crude Oils are available for trading on Lirunex Platform. Take advantage of the fast moving market of Crude Oil which is ideal for traders who are looking for daily action.
Shares - Access the stock market using Lirunex Platform by investing in 40 different U.S. and European stocks with low cost.
Lirunex understands what traders want and need from their trading platform, which is why they offer the award-winning MetaTrader 4 platform. For nearly two decades MetaTrader 4 has been the overwhelming choice of millions of traders, and it remains one of the most popular and most powerful trading platforms available to retail traders.
MetaTrader 4 is best used as the desktop platform, which is available for Windows PCs. This gives the most power, and the most tools for analyzing your favorite assets. Whether you are a beginning trader or a long-time professional you will be able to take advantage of all the powerful features offered by MetaTrader 4.
Also, Lirunex puts no restrictions on the use of Expert Advisors, which is MetaTrader’s version of trading robots. These EAs allow anyone to automate trading, either by writing their own EA or by using one of thousands of EAs written by others and available in the MetaQuotes Community.
Lirunex does not offer a web-based version of MetaTrader 4, which is probably good for security, but they do have the platform available for download to mobile devices. Both Android and iOS devices are supported, and while this is not ideal for doing analysis, having the platform on your mobile device is great for monitoring your trades on the go.
Lirunex makes all the usual banking methods available to its clients, which includes bank transfers, credit and debit card payments, and e-wallets like Neteller and Skrill.
There are no deposit fees at Lirunex, which is great. However, your own provider may have their own fees which you will need to look into. Deposits are processed within one day and can even be seen in your wallet on the same day. Also, you can get started with a minimum deposit of €500.
When it comes to withdrawals most methods also have no fees, however credit card withdrawals are subject to a 2% fee, and both Neteller and Skrill have fees of 4.9%.
Customer support at Lirunex is provided Monday-Friday, 10:00 am – 5:00 pm (GMT+3) via a number of different channels.
Lirunex is a good broker for traders of all experience levels. While they are a bit short on some of the offerings in various asset classes, they do have a very good selection of forex pairs, plus they offer trading in shares and indices CFDs. And all of it is done on the MetaTrader 4 platform, which we find excellent.
The fact that the broker is headquartered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission is also a positive, and it offsets the fact that Lirunex also runs offshore subsidiaries. The CySEC regulation makes for a trustworthy broker.
No Dealing Desk