Lirunex broker seems perfect at first glance. Tier 2 regulation, legit headquarters, regulated leverage. However, nothing is ever as it seems.
Read our honest Lirunex review and find out what’s wrong with this CySEC regulated brokerage.
- But firstly, we want to invite you to read our recently updated Primefin and PrimeXBT scam broker reviews. Your funds are in danger with them!
|Broker Status:||Offshore Regulated|
|Scammers Websites:||Lirunex.eu and Lirunex.com|
|Operating Status:||Alleged Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Lirunex Limited|
|Online Trading Platforms:||MT4|
|Crypto Assets:||Not Available|
|Available Trading Assets:||Forex (FX), Commodities, Indices, Shares|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Experts’ Verdict:||Don’t Invest in This Scam Broker!|
Lirunex Regulation – Is the Broker Legit?
Lirunex is owned by Lirunex Limited and registered in Cyprus. Therefore, Lirunex regulation comes from CySEC, and here we have nothing bad to say. Yet, we discovered that this same company has an offshore entity that is far less legit and regulated. Now, we have to ask why any legit company would risk its reputation with an offshore entity. And not just any. According to lirunex.com, this entity is based in the Marshall Islands and re-registered in the Republic of Maldives. To make it more suspicious, they have LFSA regulation.
Questions about Lirunex License – Reputation Problems
Of course, after all these offshore entities, we stayed confused, and so did you, probably. Whether Lirunex is regulated offshore or not? Yes, they’re registered in Labuan. So how could they be based in two other countries? Only they know. But now you do know why not open an account with this brokerage. Since the company has a discretionary right to assign you to any of the entities, we strongly advise you to avoid it.
Lirunex Login Problems – One Of The Signs Of A Scam
Reportedly, there have been numerous login issues on Lirunex trading accounts. According to Lirunex reviews, clients can’t log in to their accounts for a couple of days, and once they do, trades have been changed and the money disappeared. Of course, the broker blamed lags, the client’s internet connection, etc., but you cannot have excuses once you invest your money.
If you experience something similar and cannot log in to your trading account, let us know. Unfortunately, this is one of the tools for scam brokers to make you lose money without being directly involved. Act before it’s too late, and let’s save your money!
Lirunex Trading Platform Review – Trading Software
Lirunex trading platform is an MT4, which is highly recommended to have. It’s the best platform in the industry, and over 80% of market users prefer this platform over any other. The platform has a vast number of indicators and is considered more user-friendly than its successor, MT5. It’s available in several different languages and provides access to all of the major trading assets. With Lirunex broker, clients get an automated trading system as well, which we would advise you to avoid.
Lirunex App – iOS & Android Trading
Since MT4 is made for all devices, you can download a mobile app for your iOS or Android mobile phone. There’s a link on the broker’s website for platform download. Bear in mind that having a mobile app gives you fewer technical indicators and charts than a desktop platform.
Countries Allowed And Prohibited By The Broker
As a CySEC regulated brokerage, Lirunex can provide financial services all over the EEA zone. Besides, as a CIF, it can operate in the countries where it complies with the trading regime. In this case, those are China, UAE, Malaysia, Lebanon, and Indonesia.
On the CySEC regulated website, we see that prohibited countries are the USA, Canada, Mauritius, Australia, Japan, Haiti, Suriname, Democratic Republic of Korea, Puerto Rico, and the Occupied Area of Cyprus.
However, there are no restrictions on the website of an offshore entity, meaning that a broker is using this website to defraud clients all over the world.
Lirunex Range of Trading Instruments & Markets
Lirunex offers 4 different trading instruments:
- Currency pairs – majors and minors
- Commodities – soft and hard
- Indices – all of the major global indices
- Shares – a vast number of global shares
As you can notice, there are no cryptocurrencies available as one of the market’s largest assets at the moment. For every instrument, the broker provides different leverage. However, it depends on which entity you belong to. If you’re assigned to a CySEC regulated entity, leverage goes up to 1:30, but leverage goes up to 1:1000, which is extremely risky if you’re with the offshore one.
Lirunex Trading Accounts – Account Types
Again, account types depend on the entity you belong to. We will show you both of the options you have with Lirunex.
CySEC regulated entity account types:
- LX-Standard – 500 USD/EUR
- LX-Prime – 2,000 USD/EUR
- LX-Pro – 10,000 USD/EUR
Offshore entity account types:
- LX-Standard – $25
- LX-Advanced – $100
- LX-Prime – $200
- LX-Pro – $10,000
As you can conclude, Lirunex minimum deposit depends on the entity, which could be $500 or $25.
Lirunex Demo Account
Besides standard account types, Lirunex offers an Islamic swap-free account and a Demo account for both entities. Clients have a chance to get introduced to MT4 and check out the offer of assets before investing any money.
Scammed By Lirunex Broker? – Talk To Our Experts Today!
Being scammed by an illicit brokerage is nothing to be ashamed of. It can happen to anyone, and there are a lot of victims of the Lirunex scam. What is important is to file a complaint and request your money back in time.
Global Fraud Protection specializes in assisting clients with filing disputes and requesting a chargeback. If you were scammed by Lirunex or any other bogus broker, let us know. Let’s start the process immediately and get your money back before it’s too late!
Don’t Let the Scammers Go Away for Free!
What Is Lirunex, And Should I Invest Money In It?
This is an online trading brokerage with entities in Cyprus and the Marshall Islands. Since it has an offshore entity, we advise you to avoid it.
Is Lirunex Safe?
Lirunex would be safe if they didn’t have an offshore entity in Mauritius with a Labuan regulation.
Which Products Does Lirunex Offer?
Broker offers trading with currency pairs, commodities, indices, and stocks.
Which Trading Platforms Are Supported By Lirunex Broker?
This trading platform supports MT4 for desktop and both Android and iOS mobile devices.