What’s Lirunex?
The philosophy on which Lirunex was founded is the preservation of consumer loyalty and the provision of skilled trading services to the advantage of unparalleled professionalism. Lirunex operates through its brokerage office in Cyprus, along with all the requisite security and compliance requirements.
The broker made it possible for the offshore office to cover global exposure, if it were located only in the offshore zone then we would not recommend Lirunex. But along with its European set of operating requirements backed by oversight by CySEC, Lirunex was deemed a secure broker.
As for the trading service itself, Lirunex provides all the necessary conditions for the potential success of its customers, while you will find an expansive range of account types, a popular platform for executing orders and flexible terms and conditions.
Lirunex offers numerous FX pairs for trading, CFDs for metals, commodities and other instruments, all provided with instant STP order execution.
Training and Education
Together with extensive learning conditions for professionals, novice traders are also welcome as Lirunex offers training courses and supports data analysis or strategy guides.
Is Lirunex free, or is it a scam?
Lirunex is the trade name used by a Cypriot investment firm, which is also authorized by the Cyprus Securities and Exchange Commission (CySEC). The regulatory responsibilities and legal status of the broker are the first things to check when choosing a broker.
In simple terms, this means that the broker works transparently and is continuously monitored by the regulator. Any violation may be heavily fined or even discharged from its operation. Therefore, trading with a controlled broker gives you safe trading conditions, while your money is safe and secure.
In addition to complying with the necessary legislation, CySEC brokers and Lirunex operate clients’ accounts on transparent terms and conditions and segregate funds. Also, in the worst case (the insolvency of the business) the CySEc policy clients are protected by the compensation scheme. CySEC is a European regulator that promotes the skills of traders set out in the ESMA and the MiFID Directive. In accordance with this, Lirunex operates through a cross-boarding license that provides legal trading opportunities for clients in the EEA region and beyond.
Platforms for Trading
Getting to the Litenex platforms and software to execute orders, the broker decided not to make things complicated, so it provides MetaTrader4. Apart from its rewarding and excellent features, MT4 is the most commonly used network with a fantastic number of executions performed daily. The platform is available via different versions suitable for use on a PC, MAC or through a smartphone and tablet.
In addition, Lirunex MT4 is filled with robust tools and features that will improve the strategy and provide better exposure, either at the beginning level or with a super-comprehensive approach for professionals. There is no limitation on EAs, recognized autonomous robots that can be programmed in case you have the expertise, or they can be simply picked from the marketplace.
Lirunex training materials are sincerely recommended for your consideration, as experience is always a must in trading, so you better keep yourself up-to-date.
Accounts
Lirunex designed four account types that would certainly match one’s own needs, either with a relatively small size or a regular trader, or an active trader with greater market exposure. Such accounts are shown in a screenshot below, so you can see their terms and conditions along with deposit requirements and general comparisons.
Fees
As for the Lirunex spread, it is clear that it depends on the type of account you trade since the higher rank account provides better trading conditions. But, all account forms provide variable spreads without commission charges. Alike Standard account spreads from 1.5 pips, Advanced from 0.7 pips, Premium from 0.5 pips and Pro from 0.3 pips.
Also, you can see below some examples of the highest spreads available in the Standard account below.
Always consider the overnight fee or the Lirunex swap as a trading fee that is uniquely specified by each instrument, as you can see above.
Leverage
Leveraged trading that allows better market exposure while the ratios available to retail traders are 1:30 for major currencies, 1:20 for smaller currencies and 1:10 for commodities. The amount of leverage is severely restricted by European authorities, and this is the limit that you can use as a retail trader.
Nevertheless, the professional service offered by two higher grate Lirunex account types will include specified conditions for higher leverage, which are only applicable to certified professionals.
What Deposit and Withdrawal Methods Lirunex approves?
The last point in our Lirunex Analysis is the payment methods through which you can transfer funds to or from your bank account. These include Card Payments and Bank Transfers available at the time of the review, but Lirunex will soon add to its options Neteller, Skrill and China UnionPay.
Minimum Deposit
The first minimum deposit for the first grade account type is $500, while other accounts will require more deposits and provide you with better trading conditions.
Fee for deposits
While some methods like bank wire will allow you to receive a free deposit, card payment will incur a 1.5 percent fee, so you should check the conditions before any money is sent. Payment institutions or suppliers may also apply such fees to your side due to international regulations, so it is also necessary to check everything for convenience.
Final Word
Overall, the Lirunex review showed us a broker based in Cyprus that offers high-quality trading opportunities, for beginners and professionals. What we like about Lirunex’s offering are the wide range of account types, very friendly fee terms and good customer service. Even though Lirunex has an offshore entity in the Marshall Islands, its obligations with the CySEC make it clear that it is a reliable broker.
There are, however, better brokers with stronger licenses and lower spreads.
