Lirunex group includes 3 related companies.
Lirunex CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Lirunex MY - located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
Lirunex MH - located in the Marshall Islands, but not regulated by any government agency.
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, MH company accepts European traders, so one can open a trading account there.
Lirunex group accepts clients from all over the world, excluding USA and some FATF sanctioned countries.
Forex broker offers the following underlying assets for trading.
|40+ Currency Pairs||Based on major and minor world currencies.|
|6 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks.|
|2 Metal CFDs||Based on Gold and Silver.|
|2 Energy CFD||Based on Crude Oil (WTI, Brent).|
|10+ Stock CFDs||Based on shares of US companies.|
Lirunex is a forex broker set up in 2016, with branches located in Cyprus, in the Malaysian offshore jurisdiction of Labuan, as well as another offshore branch which the company says is registered in both the Maldives and the Marshall Islands.
The broker is fully regulated by EU law via its entity in Cyprus, while also being overseen by the Labuan Financial Services Authority (LFSA) in Malaysia. In the Maldives/Marshall Islands, the branch of Lirunex that is located there remains unregulated by the government, as the common practice is in many offshore jurisdictions. As a result, traders who are signed up with the Maldives-based entity of Lirunex can enjoy some of the highest trading leverage in the world of up to 1:1,000.
Interestingly for traders based in the EU, Australia and other places with strict limits on trading leverage, Lirunex is one of the brokers that are known to accept these people as clients under its offshore entities. All that is needed for this is to go to the broker’s website, click on “MED” (Maldives Ministry of Economic Development) in the top left corner of the page, and then sign up as a new client.
As a company, Lirunex has a strong focus on the South East Asian market, specifically forex traders in Malaysia, Brunei, Indonesia, Singapore, the Philippines, and Vietnam. It’s also worth noting that Lirunex has been awarded “Best Broker in Malaysia” for 2020 by Trader’s Awards, an achievement that perhaps increases the credibility of this broker in the eyes of traders in the region.
Moving to the instruments that can be traded with this broker, it’s clear to us that the focus here has not been on covering every type of asset out there. Instead, Lirunex has chosen to offer only the most traded assets, including just over 40 forex pairs, a handful of popular cryptocurrencies, as well as a small number of single stock CFDs and commodity CFDs.
Further, all instruments that are available from Lirunex are traded on the Windows-based MetaTrader 4 (MT4) platform. This is perhaps the most used trading platform in the world among retail forex traders, and should therefore be familiar for most users. Among other things, MT4 got famous for its huge selection of custom-made indicators and trading strategies that can be found in the marketplace within the platform.
For the time being, no other trading platforms are offered by Lirunex.
Once signed up, all new clients with Lirunex will be assigned to one of four account types that the broker offers, depending on the size of their initial deposit:
– LX-STANDARD, with USD 25 min deposit, spreads from 2.0 pips and no commissions
– LX-ADVANCED, with USD 100 min deposit, spreads from 1.5 pips and no commissions
– LX-PRIME, with USD 200 min deposit, spreads from 0 pips and commissions from USD 8/lot
– LX-PRO, with USD 10,000 min deposit, spreads from 0 pips and commissions from USD 4/lot
Switching over to customer support, this is available from Lirunex via live chat online, WhatsApp or email. Unfortunately, no direct phone number to the broker has been published on its website.
In conclusion, we believe that Lirunex could be a broker to keep an eye on for traders from jurisdictions such as the EU, Australia, Canada or other countries where regulations restrict what can be traded and how much leverage can be used. These traders can easily sign up with the offshore branch of Lirunex, and thus enjoy the much higher trading leverage that is available offshore. What we miss, however, would be a better selection of trading instruments that also covered things like bonds, more commodities, and a wider selection of stocks. In addition to that, a phone number to contact customer support should also be made available.