- Lirunex Pros and Cons
- Is Lirunex safe or a scam?
- Deposits and Withdrawals
- Trading Platform
Our Review Method
- 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offering, fees, platforms, verified regulations, contacted customer service and placed traders to see trading conditions and give expert opinion about Lirunex
What is Lirunex?
Lirunex is a Cyprus-based Forex Brokerage company and investment firm offering FX and CFD instruments. With a global presence, Lirunex is dedicated to delivering world-class brokerage services and strives for excellence through its CySEC licensing & supervision.
Yet, the broker also enabled the offshore office in order to cover global exposure, eventually, if being located only in the offshore zone we would not recommend Lirunex. Yet, together with its European set of operational standards followed by CySEC supervision, Lirunex is considered a safe broker.
Lirunex Pros and Cons
Lirunex is a reliable broker with easy account opening, there are many supported funding methods, and trading conditions are average with good platforms, education, and spreads on the industry average.
From the negative points, the range of the instrument is limited to Forex and CFDs. Also, the broker provides poor educational materials.
|CySEC-regulated||Runs an offshore entity|
|Good Establishment||High Spreads for some account types|
|Good Instrument Range and technology offering||High Minimum deposit|
|MetaTrader Broker||Only FX and CFDs |
|Low Fees||Poor Education|
Lirunex Review Summary in 10 Points
|📉 Instruments||FX pairs for trading, CFDs on metals, commodities|
|💰 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|
Overall Lirunex Ranking
Overall, Lirunex is a good broker with a competitive offering and low fees spreading its service across the globe. The broker offers a decent range of FX and CFDs instruments to trade from different account types each designed for specific trading needs.
- Lirunex Overall Ranking is 7.8 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Pur Ranking ||⭐⭐⭐||⭐⭐⭐⭐⭐||⭐⭐⭐⭐⭐|
|Advantage||High Leverage||Education||Low Minimum Deposit|
Lirunex Alternative Brokers
However, the broker doesn’t seem to provide good education as well as spreads are high for the Standard account type. Also, the minimum deposit requirement is quite higher than the industry average. So it is good to consider other options as well, look at some of the alternative brokers below:
Is Lirunex safe or scam?
No, Lirunex is not a scam but a regulated broker. The broker is regulated by CySEC and is considered a low-risk investment firm. As an authorized firm by CySEC and other European financial institutions, it provides investors peace of mind when allocating their funds.
Is Lirunex regulated?
Lirunex is a trading name of a Cypriot Investment firm, which is also respectively authorized by the Cyprus Securities and Exchange Commission (CySEC). Eventually, the regulatory obligations and the legal status of the broker is the first thing to check while selecting a broker to trade with. In simple words, it means the broker operates transparently and is constantly overseen by the authority, or in case any violations may be heavily fined or even dismissed from its activity.
- Also, the broker is regulated in the Marshall Islands, thus enabling global coverage. However, we do not recommend registering under offshore entities due to the higher risks of capital loss.
See our conclusion on Lirunex Reliability:
- Our Lirunex Trust Score is 7.9 out of 10 for good establishment and a high level of protection. The broker is licensed by a tier-2 financial regulator ensuring safe trade. However, the broker provides international trading through an offshore entity.
|Lirunes Strong Points||Lirunes Weak Points|
|Regulated by CySEC||Runs an Offshore entity|
|Founded in CySEC||Protection and offerings vary depending on the entity|
|Negative Balance Protection|
How are you protected?
Together with compliance with necessary laws, CySEC brokers and Lirunex respectively operate clients’ accounts with transparent conditions and also segregate funds from the company ones. In addition, in the worst case of the company insolvency and CySEc guidelines, clients are covered by the compensation scheme.
Lastly, CySEC being a European regulator facilitate expertise set by ESMA and MiFID directive toward traders. Together with that, Lirunex also operates through cross boarding license which gives legal trading way to EEA zone clients and beyond.
Financial leverage refers to the use of borrowed money to increase investment returns. Essentially, leveraging involves borrowing money to invest in assets, with the goal of earning a higher return on the invested capital than the cost of borrowing.
Financial leverage can increase the potential returns from an investment, but it also increases the risk as the investment is leveraged and any changes in the value of the assets will have a proportionately larger impact on the invested capital.
Lirunex Leverage levels depend on the entity you are trading with, as well as the account type and your expertise level. Leveraged trading allows better exposure to the market while ratios available to retail traders are:
- 1:30 for major currencies, 1:20 for minor ones, and 1:10 for commodities for CySEC traders
- for traders under the Marshall Islands regulators, the broker offers high leverage rations up to 1:500
Nevertheless, a professional offering, which is presented by two higher grate Lirunex account types will include specified conditions for higher leverage, which is available only for confirmed professionals.
Lirunex Account types
Lirunex designed three account types each offering different deposit requirements and spreads. The spread depends on the grade of the account type you chose to use since the higher-grade accounts offer better trading conditions. These accounts are listed below on a snapshot, so you may see their conditions along with deposit requirements and general comparison.
Does Lirunex offer a demo account?
Yes, Lirunex offers beginners a demo account to practice trading in a risk-free environment before making decisions on live trading. Lirunex demo account expires in 30 days.
|Fast Digital Account Opening||Higher minimum deposit |
|Demo Account for 30 days||Account proposal may vary according to jurisdiction|
|The proposal between Accounts based on spread only or based on commission|
As for the trading offering itself, Lirunex brings all the necessary conditions for the potential success of its investors, while you will find an expressive range of account types, a popular platform to execute orders as well as flexible conditions.
Lirunex Instrument range offers numerous FX pairs for trading, CFDs on metals, commodities, and other instruments all delivered with instant STP order execution.
- Lirunex Markets Range Score is 8.1 out 0f 10 for its wide selection of trading instruments, offering CFDs and Forex Instruments to European clients while providing even more choice internationally
Lirunex fees are either built into spreads or commissions-based depending on the account type, for a full fee structure see the fee table below and consider funding and inactivity fees. Also, always check the overnight fee or Lirunex swap as a trading fee, which is defined by each instrument individually, as you may see above.
The fees charged by a broker can vary depending on the services offered, the types of financial products traded, and other factors. Some common fees include trading fees, account maintenance fees, and withdrawal fees, among others. It’s best to check the broker’s website or contact them directly for information on their specific fees.
- Lirunex Fees are ranked 7.8 out of 10 compared to 500 other brokers. While costs may vary depending on which entity you choose, our comprehensive testing revealed them as an overall good option
|Fees||Lirunex Fees||Goldwell Capital||Scandinavian Capital Markets Spread|
Lirunex spreads depend on the account type you trade since a higher-grade account offers better trading conditions. Yet, all account types offer variable spreads with no commission charges. Alike Standard account spreads starting from 1.5 pips, Advanced from 0.7 pips, Premium from 0.5 pips and Pro from 0.3 pips respectively. Also, you may see below some examples of the highest spreads available at the Standard account below:
- Lirunex Spreads are ranked 7 out of 10 based on our testing comparison to other brokers. We found Forex spread a bit higher for Standard account than the industry average of 1.2 pips for EURUSD, and spreads for other instruments are high as well
|Asset||Lirunex Spread||Goldwell Capital Spread||Scandinavian Capital Markets Spread|
|EUR USD Spread||1.5 pips||1.8 pips||1.7 pip|
|Crude Oil WTI Spread||4||4||4|
|Gold Spread||50 cents||50 cents||50 cents|
Lirunex Deposit and Withdrawal Methods
Lirunex payment methods include Card Payments and Bank Transfers available at the moment of the review, yet Lirunex will add on soon Neteller, Skrill, and China UnionPay to its options.
- Lirunex Funding Methods are ranked 7.9 out of 10. The minimum deposit is higher than the industry average, yet Fees are either none or very small also allowing to benefit from various account-based currencies, yet deposit options vary on each entity
Here are some good and negative points for Lirunex funding methods found:
|Lirunex Advantage||Lirunex Disadvantage|
|Fast Account Opening||Methods and fees vary in each entity|
|Multiple Account Base Currencies||High Minimum Deposit|
|Free Deposit and Withdrawal||Limited Funding Methods|
Lirunex minimum deposit
Lirunex first minimum deposit is 500$ for first-grade account type, while other accounts will demand more deposits and bring you better conditions for trading.
Lirunex minimum deposit vs other brokers
||Most Other Brokers
Does Lirunex have no deposit bonus?
No, the broker does not offer no deposit bonus.
Lirunex withdrawal options like bank wire will let you enjoy a free of fee deposit, and card payment will incur a 1.5% charge so you should verify conditions before any money are sent. Also, payment institutions or providers may add on some fees to your side due to international policies, so its always necessary to verify all for convenience.
Lirunex Trading Platforms
So getting to the Litenex platforms and software which you will use to execute orders, the broker decided not to make things complicated so its mainstay is MetaTrader4. Apart from its rewarded and great functionality, MT4 is the most used platform word wide with a fantastic number of executions performed daily.
- Lirunex trading platform is ranked 8 out of 10 compared to 500 brokers in the market. The broker offers an industry-standard platform used by many traders. However, the lack of alternative platforms is a drawback, especially for those seeking more modern and sophisticated platforms
Trading Platform Comparison to Other Brokers:
|Platforms ||Lirunex Platforms||Pepperstone Platforms||XM Platforms|
The platform is available in various versions suitable either for use on the PC, MAC or through mobile devices of any type along with tablets. In addition, Lirunex MT4 is packed with comprehensive tools and features that will enhance your strategy and will bring better exposure, either at the beginning level or with super comprehensive for professionals.
Also, there is no restriction on EAs, known automatic robots that may be programmed in case you’re having skills, or are simply selected from the marketplace.
Lirunex customer support offers comprehensive service with various contact options available during market hours. Lirunex ensures their customers have the best access to assistance no matter what form they prefer, be it by phone, email, or one of many other channels such as live chat and an online resource center filled with helpful FAQs and educational materials.
- Customer Support in Lirunex is ranked 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers, the main drawback is that it is not available during the weekends
|Fast Response||No 24/7 support|
|Live Chat Available|
However, Lirunex Education Section is quite poor offering only materials available via the Lirunex FAQ section. The Lirunex FAQ section covers a range of topics including Account Information, Deposits, and Withdrawals.
- Lirunex Education is ranked 6.7 out of 10 based on our testing. The broker has poor educational materials only available as Q&A format.
Lirunex Review Conclusion
Overall, the Lirunex review showed us a broker that offers an opportunity for quality trading whether you’re a beginning trader or a professional. What we like at Lirunex offering is a range of account types, quite pleasant fee conditions, and good regard from the clients.
Despite the fact that Lirunex also runs an offshore entity in the Marshall Islands, its obligations towards European CySEC give a clear state of mind that you’re trading with a reliable firm.
Based on our research Lirunex is good for:
- Beginners and Regular size Traders
- FX and CFDs trading
- For international Traders
- Trading with different strategies
- MT4 Traders
- Commodities Trading
- EAs Trading