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Lirunex Review: Delving Deep into a Renowned Forex Broker

Table of Contents

Introduction

Lirunex, established in 2016, is a well-established brokerage with headquarters in Cyprus and Malaysia. With over 4 million clients, it offers Forex/CFD trading services to a wide range of traders.

Initial impressions of Lirunex suggest it provides a variety of trading options and boasts user-friendly platforms.

Licensing and Regulation

Lirunex is regulated by CySEC (338/17) and FSA (Labuan) MB/20/0050. While these regulations offer some level of protection, it’s essential to note that Lirunex is an offshore broker.

Trading Platforms

Lirunex offers MetaTrader 4 (MT4), a trusted platform known for its comprehensive features and analysis tools. The platform caters to both novice and experienced traders, available on PC, iOS, and Android.

Account Types

Lirunex provides various account types, including LX-STANDARD, LX-ADVANCED, LX-PRIME, and LX-PRO. Each account type offers different features, minimum deposits, leverage options, and spreads. It’s important to choose one that suits your trading needs.

Tradable Assets

Lirunex offers a wide range of trading instruments, including Forex, gold & silver, CFDs, oil, stocks, indices, soft commodities, metals, and cryptocurrencies.

Spreads & Fees

Spread costs vary depending on the account type. While some accounts offer competitive spreads, others come with commissions. It’s crucial to consider these costs when selecting your account type.

Deposit and Withdrawal

Lirunex provides various payment methods, including PayPal, wire transfer, bitwallet, Tether (USDT), Ripple, Ethereum, Crypto Cash, Crypto, credit/debit cards, and AliPay. Deposit processing times differ, and some methods may involve currency conversion.

Withdrawals typically have no fees, except for global transfers. It’s essential to note the minimum and maximum limits for each method.

Customer Support

Lirunex offers customer support via email, live chat, WhatsApp, and phone. While their support is accessible, the absence of a UK phone number might inconvenience UK-based traders.

Educational Resources

Lirunex provides educational resources, including tutorials and market analysis. However, these resources may not be as comprehensive as those offered by some other brokers.

Pros and Cons

Pros:

  • Range of account types and trading instruments
  • Availability of MetaTrader 4
  • Multiple payment methods

Cons:

  • Offshore regulation
  • Varying spreads and fees
  • Limited educational resources

Conclusion

Lirunex offers a diverse range of trading options and account types, making it suitable for traders with different preferences. However, traders should exercise caution due to its offshore regulatory status. Consider your trading goals and risk tolerance when selecting an account type. Overall, Lirunex can be a viable option for those seeking a broker with a wide asset selection and platform options.

FAQs

Yes, Lirunex is a legitimate broker, established in 2016, with regulatory oversight from CySEC and FSA (Labuan).

Lirunex offers the MetaTrader 4 (MT4) platform.

Lirunex provides a variety of assets including Forex, gold & silver, CFDs, oil, stocks, indices, soft commodities, metals, and cryptocurrencies.

The minimum deposit varies with account type, starting from $25 for the LX-STANDARD account.

Yes, Lirunex provides mobile trading via the MetaTrader 4 app available for iOS and Android.

No, Lirunex is not regulated by the UK’s FCA but has regulatory oversight from CySEC and FSA (Labuan).

Lirunex offers support via email, live chat, WhatsApp, and phone.

Typically, there are no withdrawal fees except for global transfers. Some deposit methods may involve currency conversion fees.

Lirunex provides some educational resources like tutorials and market analysis, but they may not be as comprehensive as other brokers.

Lirunex offers a range of account types and tradable assets suitable for various traders, but its offshore regulatory status and limited educational resources might be a concern for beginners.

 

 

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