Lirunex Review 2024 with Rankings By Dumb Little Man

Lirunex Review

Lirunex stands as an international broker, offering an extensive assortment of assets and trading conditions tailored to meet the diverse needs of global traders. The broker’s appealing features range from user-friendly trading platforms to competitive spreads that start from 0.0 pips. With the leverage reaching up to 1:2000, along with multiple account options and various deposit/withdrawal methods, Lirunex opens up a plethora of opportunities for both novice and seasoned traders.

In this comprehensive Lirunex review, we aim to shine a spotlight on the broker’s unique selling propositions as well as any potential downsides. Our assessment will cover diverse aspects, such as account options, deposit and withdrawal procedures, commission structures, and more. By combining expert analysis with real trader testimonials, we strive to equip you with all the essential information you need to evaluate whether Lirunex could be the right broker for you.

What is Lirunex?

Lirunex is a prominent retail forex and CFD broker, registered in Cyprus and supervised by multiple regulatory bodies. The broker caters to a wide array of trading interests, offering various instruments including forex, indices, commodities, and cryptocurrencies. Lirunex provides competitive spreads and leverage of up to 1:30 for forex trading, creating a flexible and favorable trading environment.

The broker harnesses the power of the popular MetaTrader 4 trading platform, available for both desktop and mobile devices. Lirunex supports a wide range of order types such as market orders, limit orders, stop orders, and trailing stop orders. The one-Click Trading feature on the MetaTrader 4 platform allows traders to execute orders swiftly. Moreover, Lirunex enhances traders’ decision-making abilities by providing a range of educational resources and trading tools.

>> Also Read: Forex Trading Strategies – A Trader Beginners Guide

Safety and Security of Lirunex

Operating under the trading name of a Cypriot Investment firm, Lirunex is a reliable broker under the regulation of Cyprus Securities and Exchange Commission (CySEC), Labuan Financial Services Authority (LFSA), and the Republic of Maldives – Ministry of Development (MED). A broker’s regulatory obligations and legal status form the bedrock for trader confidence. Lirunex’s transparency, coupled with the regular oversight from CySEC AND LFSA, ensures the broker operates within the necessary guidelines, thereby protecting the interests of its traders.

Furthermore, as per the CySEC, LFSA, and MED regulations, Lirunex segregates client funds from company funds, providing an additional layer of security. If a worst-case scenario were to occur, such as company insolvency, clients are protected by the CySEC, MED and LFSA-backed compensation scheme.

>> Also Read: Top Forex Scams: How to Spot and Avoid Them

Sign-Up Bonus of Lirunex

Although Lirunex doesn’t offer any sign-up bonus at the time of this review, they have a compelling bonus structure in place. Traders can avail of a 100% deposit bonus of up to $20,000 and a 20% trading bonus of up to $500, thereby enhancing their trading potential.

Minimum Deposit of Lirunex

The deposit requirements at Forex broker Lirunex vary depending on the chosen account type, mirroring the diverse range of financial expectations and investment capacities of traders. The entry-level, Lirunex Standard Account, offers a minimum deposit threshold of only $25 USD, making it an accessible option for those new to trading or operating with a limited budget.

For more seasoned traders eyeing higher stakes and potentially greater returns, Lirunex Pro and Prime accounts call for heftier minimum deposits of $200 and $10,000 respectively. These options are designed to cater to the more risk-tolerant individuals or entities in the financial trading ecosystem, accommodating their readiness to commit more significant capital to trading.

Lirunex Account Types

Lirunex, comprehending the varied needs of traders, offers a trio of live trading account options – LX-Standard, LX-Prime, and LX-Pro.

LX-Standard

The LX-Standard account, an ideal choice for novices, demands a modest minimum deposit of $25. It provides a solid foundation for those unfamiliar with the market dynamics, offering an all-inclusive package of trading instruments, customer support, and a wealth of educational resources and trading tools.

LX-Prime

On the other hand, the LX-Prime account, designed for traders with a firmer grasp of the market, necessitates a more substantial minimum deposit of $200. This type of account presents more refined trading conditions such as tighter spreads and lower commissions, along with exclusive trading signals and expedited withdrawal procedures, setting the stage for potentially more lucrative trading experiences.

LX-Pro

For trading connoisseurs, the LX-Pro account is Lirunex’s premier offering, requiring a minimum deposit of $10,000. It is meticulously crafted to cater to the high-stakes needs of professional traders, bringing dedicated account managers, advanced trading tools, priority customer support, and competitive market conditions to the fore.

Islamic and Demo Accounts

In addition to these, Lirunex acknowledges the unique requirements of Islamic traders, offering Islamic swap-free trading accounts. For those wanting to test strategies without risking real capital, a free Lirunex demo account is also available, marking Lirunex’s commitment to supporting traders at all stages of their trading journey.

Lirunex Fees, Spreads, and Commissions

The fees that Lirunex levies can be embedded within the spread or may operate on a commission-based model, varying according to the type of account. To comprehend the complete fee arrangement, a careful examination of the fee chart provided below is advisable, which includes information on the costs related to funding and periods of inactivity.

Moreover, it is crucial to account for the overnight fee, also known as the Lirunex swap fee, charged as a part of the trading costs. This fee is determined on an individual instrument basis, which is illustrated above. Brokerage charges can fluctuate significantly based on the range of services delivered, the specific financial commodities traded, and other relevant aspects. The most frequent fees include trading costs, account management charges, and withdrawal fees, among others. To procure information regarding specific fees, it is recommended to visit the broker’s official website or establish direct contact with them.

Spread policies at Lirunex also exhibit variation based on the chosen account type, as accounts of higher grades are privy to improved trading conditions. However, all account types offer variable spreads without incurring any commission charges. The Standard account offers spreads that start from 1.5 pips, while for Prime and Pro accounts, spreads can start from as low as 0.0 pips. It is essential to note that these figures can differ based on market conditions and volatility, hence a thorough understanding of spread policies is key to successful trading.

Lirunex Customer Reviews

Customer reviews on Lirunex show a diverse array of experiences. Many users appreciate the platform’s transparency, user-friendly design, and responsive support. They value the easy tracking of trading activities provided by the daily automated emails and express satisfaction with their trading experience.

However, some clients have raised serious concerns about alleged trading manipulations and a perceived lack of professionalism, with some even advising potential users to steer clear of the broker.

Meanwhile, others consider Lirunex to be more rewarding compared to other brokerage firms. As these reviews demonstrate, potential traders should conduct thorough research before deciding to use Lirunex’s services.

Deposit and Withdrawal

Lirunex is compatible with a wide array of payment mechanisms for facilitating deposits and withdrawals. These encompass Global, SEPA, Global Transfer, VISA, Mastercard, ePay.bg, GiroPay, Sofort, and Webmoney. The minimal deposit amount is contingent on the chosen method of payment, varying anywhere between $25 and $2000.

One should keep in mind that the processing duration for withdrawal requests could differ, hinging on the selected method of payment. Withdrawals conducted through Visa and Mastercard could necessitate up to 10 business days for processing. This processing period is an outcome of the inherent characteristics of these payment modalities, which typically involve extra security scrutiny and validation measures to ascertain the correct transfer of funds.

Lirunex provides several withdrawal alternatives, such as bank wire transfer, which allows you to deposit without incurring any additional fees. However, utilizing a card payment method would entail a 1.5% fee, hence it’s crucial to confirm these conditions before transferring any funds. It’s worth noting that additional fees may be levied by payment institutions or providers due to international policies. As a result, it’s always vital to thoroughly check and validate all terms for your convenience.

How to Open a Lirunex Account

Creating a Lirunex account is a straightforward and efficient process. Here’s a detailed, step-by-step guide to help you through it:

Initiate the Lirunex Account Registration

To kickstart the process of opening a Lirunex Account, the prospective client needs to select the “Create Account” option located at the top of the Lirunex website.

Finalize the Lirunex Account Registration

To wrap up the registration procedure, the prospective client is expected to fill out an online registration form. This includes providing essential details such as personal information, contact details, and possibly some identification for verification purposes.

Activation

Once the registration form is completed, the client will be prompted to check their email account to conclude the process. A confirmation or activation link is usually sent to the client’s email to ensure the authenticity of the account. The client needs to click on this link to activate their Lirunex account successfully.

Lirunex Affiliate Program

Lirunex does indeed extend the opportunity for partnerships via its Introducing Broker (IB) Program. This program serves as a profitable avenue for collaborators, with Lirunex promising daily remunerations to IBs of up to $10 USD per lot. As an IB Partner with Lirunex, an array of benefits and advantages are accessible.

• Partners are not burdened with any setup fees nor do they have to make any upfront investments to join the IB program. This enables easy and risk-free entry into the partnership.
• IBs have the advantage of real-time tracking of their referral commissions via an advanced reporting system. This ensures transparency and real-time tracking of one’s earnings.
• Lirunex provides dedicated support to its IBs in the form of a committed IB account manager. This individual is tasked with aiding IBs in maximizing their revenue streams, thus ensuring a profitable partnership.
• Lirunex also ensures the financial growth and profitability of its IBs through rebate plans. These plans are marked by prompt and reliable payouts, providing a secure revenue stream for the IBs.
• Aiming to exceed expectations at all times, Lirunex provides innovative solutions and maximum flexibility to its partners. This commitment to service excellence makes the partnership more efficient and successful.
• Lirunex supports flexible payment options and offers a daily payout scheme, a policy that boosts the financial convenience of its IBs.

Lirunex Customer Support

Lirunex‘s customer support service aims to provide a comprehensive assistance package that’s available during market hours. To cater to various preferences and needs, multiple contact options are offered.

Whether clients prefer interaction via phone or email, Lirunex ensures accessibility. Their responsive and dedicated team is committed to providing solutions and addressing concerns in a timely manner. This commitment to accessibility helps ensure the best customer experience possible.

In addition to traditional communication methods, Lirunex also offers contemporary contact methods like live chat. This allows for real-time interactions and quicker problem-solving.

Furthermore, Lirunex provides a resource-rich online platform that features a multitude of useful FAQs and educational materials. This resource center allows clients to self-navigate and find answers to their queries, offering another layer of support.

Advantages and Disadvantages of Lirunex Customer Support

Lirunex vs Other Brokers

#1. Lirunex vs AvaTrade

Both Lirunex and AvaTrade are Forex brokers that renowned for their commitment to providing a comprehensive online trading experience. However, they differ in several areas. AvaTrade, being a globally recognized broker with a presence in numerous countries, has an extensive client base and a wealth of experience dating back to 2006. Their operation, providing access to over 1,250 financial instruments, allows traders to diversify their portfolios extensively. AvaTrade is also heavily regulated and licensed, which adds a layer of credibility and safety for its users.

Lirunex, on the other hand, caters to a more diversified range of traders, including beginners, experienced traders, and professionals. With their tiered account system, Lirunex offers different trading conditions based on traders’ needs and experiences. They also provide an Islamic swap-free trading account, demonstrating their commitment to inclusivity.

Verdict: While both brokers are reliable and offer good trading conditions, AvaTrade may be better suited for traders looking for a wide range of financial instruments and global reach. Lirunex is an excellent choice for those who prefer a tailored trading experience with a diverse range of account types to choose from.

#2. Lirunex vs RoboForex

RoboForex, since 2009, has been offering an extensive range of trading options, boasting over 12,000 and eight different asset classes. Their strength lies in their ability to provide high-quality services to all traders, regardless of experience or investment level. Also, they offer a broad selection of trading platforms, including MetaTrader, cTrader, and RTrader.

Lirunex, while providing fewer trading options compared to RoboForex, also has a strong focus on quality service. They offer three different types of live trading accounts, with varying features and benefits suited to different levels of traders. They are also committed to serving Muslim traders with their Islamic swap-free trading accounts.

Verdict: For traders who prefer a wide variety of trading options and platforms, RoboForex may be the superior choice. However, for traders who appreciate a more personalized trading experience and diverse account options, Lirunex may be the preferable option.

#3. Lirunex vs FXChoice

FXChoice has been a strong player in the Forex market since 2010 and is licensed by the FSC of Belize. They are committed to serving both active and passive traders and are continuously expanding their trading instruments and services. FXChoice, however, is more suited to experienced traders, offering classic accounts and professional ECN accounts with tight market spreads.

In contrast, Lirunex offers a more inclusive trading experience, catering to all types of traders, including beginners and professionals. They offer three different types of accounts, each tailored to the specific needs of the trader.

Verdict: If you are an experienced trader looking for a focused and professional trading experience, FXChoice would be a suitable choice. However, if you are a beginner or an intermediate trader, or if you’re looking for a more diverse and inclusive trading experience, Lirunex would be a better option.

Conclusion: Lirunex Review

Lirunex establishes itself as a versatile and reliable trading platform, catering to a broad range of trader requirements. From beginners to professionals, Lirunex offers a unique trading experience tailored to the individual needs of its users. The broker’s distinctive tiered account system ensures that traders at every level find features and services that best align with their trading strategy.

Lirunex’s commitment to inclusive trading is evident in its provision of Islamic swap-free trading accounts, making it an accessible platform for traders worldwide. The broker also impresses with a variety of deposit and withdrawal methods, adding to its user convenience.

Moreover, Lirunex’s attention to customer service is praiseworthy, providing multiple avenues of communication for their clients. Along with its innovative affiliate program, the broker positions itself as a promising choice for those considering venturing into the world of trading. Though, as with any financial decision, it’s advised that potential traders conduct their own research and due diligence before embarking on their trading journey with Lirunex.

> Also Read: 9 BEST Forex Brokers For 2024: Reviewed By Dumb Little Man

Lirunex Review FAQs

What is the minimum deposit required to open a Lirunex account?

The minimum deposit requirement for a Lirunex Standard Account is $25. For the Pro and Prime accounts, the minimum deposit is respectively set at $200 and $10,000.

What types of accounts does Lirunex offer?

Lirunex offers three types of live trading accounts: LX-Standard, LX-Prime, and LX-Pro. They also provide Islamic swap-free trading accounts and a free demo account for beginners.

Is Lirunex Legit?

Yes, Lirunex is a legitimate trading platform and regulated broker. It is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC), Labuan Financial Services Authority (LFSA), and the Republic of Maldives – Ministry of Development (MED), which is a reputable financial regulatory body. However, as with all investments, trading involves risks, and users should conduct thorough research and exercise due diligence before beginning to trade. Please note that trading experiences can vary, and while many users have positive experiences, some users have raised concerns. Always be informed and prudent when engaging in any trading activities.