Richard Montana | November 17, 2022
Founded in 2016, LIRUNEX is an established and reputable online trading broker that gives you access to trade financial markets, including forex, stocks, indices, cryptocurrency, metals and energies. They provide you with the user-friendly MetaTrader 4 platforms that can run on desktop, directly in your web browser and on your mobile devices. I found the broker to have very competitive trading conditions, including tight spreads, low costs and rapid trade execution speeds. I like that there are various auto-trading tools so you can copy signals from other traders. You will also find that they have a selection of learning resources which I think is great for beginners. The minimum deposit required to begin trading is just $25 but you can open a free demo account if you want to practice before making a financial commitment.
Pros & Cons
- Easy to use MT4 trading platforms
- Generous range of financial markets
- Multiple trading accounts to choose from
- Good choice of account funding methods
- Low spreads and commission fees
- Educational resources for beginners
- Free demo accounts
- Islamic accounts (swap-free)
- Excellent support
- No MetaTrader 5 platforms
- Could add more trading tools
- Cannot accept traders from some countries
LIRUNEX is a multi-asset broker that provides you with competitive trading conditions, including easy to use platforms, spreads from just 0.0 pips, leverage of up to 1:1,000, multiple account options, various deposit/withdrawal methods, and much more. I was very impressed with what they have to offer overall and beleive they can meet the demands of most traders.
Your trades are carried out via the ever-popular MT4 trading platform which I find to be extremely easy to use. You can browse some helpful educational resources and play around with additional trading tools to improve your market analysis. One of the most important things for me is that there is a responsive customer support team who are available to assist you at any time.
LIRUNEX LIMITED is a multinational company holding multiple licenses and regulated in different jurisdictions as listed below:
LIRUNEX LIMITED (LL16130) is registered as a Labuan International Business and Financial Centre and is regulated by the Labuan Financial Services Authority under License number: MB/20/0050.
LIRUNEX LIMITED (102684) is incorporated and registered in the Republic of Marshall Islands as an International Business Corporation and re-registered in the Republic of Maldives under Companies Act of the Republic of Maldives (Law No.: 10/96) to operate the Forex platform (Certificate No. FC00022020).
LIRUNEX LIMITED (HE353862), a company established in the Republic of Cyprus, is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under License number: 338/17.
Regulation by multiple regulators can help to give you the peace of mind that you are using a broker that has clients best interests at heart. It can also ensure there is some protection in place in case something was to go wrong. I would always prefer to trade with a regulated broker as it gives me confidence that my funds are safe and they can be trusted.
LIRUNEX headquarters are in Labuan whilst Lirunex has team members across the world in locations such as the EU, Singapore, Taiwan, China, Vietnam and Thailand.
Traders from different parts of the globe can open a trading account with the broker provided that doing so would not violate the laws or regulations of their countries of residence. If your country is not available, you can find an alternative options from our broker reviews.
You can trade on the MT4 trading platform, an award-winning platform that is widely used for CFD trading. The platform is replete with a variety of powerful interactive charts, analytical functions, expert advisors, and technical indicators. Its fully customisable interface allows you to trade the way you want. You can load multiple charts and timeframes to keep track of all your favourite instruments. I have used MT4 for many years and never felt the need to switch trading platforms as it does everything that I need it to and more.
The MT4 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a handy trading app that is designed for Android and iOS devices and can be downloaded from the respective app stores. I find the MT4 app excellent for keeping track of my trades and following the markets without needing to load my computer.
Some of the key MT4 platform features you can benefit from include the following:
- Real time price quotes
- Cutting-edge and user-friendly features
- Access to all major trading instruments
- Multi-currency/timeframe/language support
- Technical analysis indicators & drawing tools
- Price alert notifications
- Automated Trading via Expert Advisors (EAs)
- Available via desktop, web & mobile devices
In addition to the vast amount of trading tools built-in the MT4 platform, you can get free access to a range of useful trading tools. I found these can be a great way to enhance your overall trading experience. These tools include some auto-trading tools, such as Chills Trading and Zulutrade. These are social trading platforms that may be useful if you don’t have the time or knowledge to trade manually. That being said, the are other brokers such as BlackBull Markets who have an even better selection for you to choose from.
ZuluTrade enables you to locate other traders that are ranked by ZuluRank, a proprietary performance evaluation algorithm and follow their trades in real time. Whilst there is a large selection of traders you can copy, I found them to be hit and miss. If you are looking for a social trading platform, eToro are the industry leaders in this aspect.
Chills Trading is another social trading platform that lets you follow and copy the trades of other traders. I actually prefer to be responsible for my own trading, but think this could be a suitable solution if you are actively looking for a copy trading platform.
The broker’s website contains a selection of learning resources that are designed to improve your trading knowledge whilst keeping youup to date with the events that take place in the financial markets. These educational resources include Learning Articles, Trading Guides, Market Analysis, Forex Webinars/Courses, Tutorials, FAQ section, Market News, and more.
I think it is very important to stay informed with what is going on around the world. Economic news is often a major factor on market movement. Therefore, it is vital that a broker makes such resources available to you. If you want extra help with market analysis then you could consider ActivTrades as they provide expert research and one on one training.
LIRUNEX do have a generous selection of trading instruments for you to choose from. They cover the markets that you would expect from a top broker, including forex, stocks and cryptos.
The following trading instruments are available for you to trade:
Forex trading is one of the most popular asset classes in the CFD ecosystem. Lirunex provides a respectable range of 40 different currency pairs, including major pairs, minor pairs, and even some exotic pairs available 24/5 to traders. If you are looking for a forex broker, then they could prove to be a good choice.
You can gain access to global exchanges by investing in 14 of the world’s most popular equity indices, such as the U.S. Nasdaq 100 and S&P 500, the European DAX 30 and CAC 40, the U.K. FTSE 100 and China A50.
Both Gold and Silver commodities are available for trading, with various conditions depending on Lirunex flexible account types such as LX-Standard, LX-PRIME and LX-PRO.
Both global benchmarks, the UK Brent and the U.S. WTI crude oils are available for trading on the Lirunex Platform. You can take advantage of the fast-moving market of Crude Oil, which is a popular choice for traders who are looking for daily action.
You can access the stock market using the Lirunex Platform by investing in 40 different U.S. and European stocks at a low cost. Whilst you can find most major companies, they don’t quite compare to brokers like IG with over 17,000 trading instruments available for you to trade. TMGM also have an excellent selection of more than 15,000 stocks for you to trade, putting them amongst our best stock brokers.
The broker supports crypto CFD trading on some of the most popular cryptocurrencies, including Bitcoin and Ethereum. If you want to trade cryptos, then I think they could be a good choice. You can also check out our best crypto brokers for other options.
LIRUNEX give you a choice of four account types. I like that they have created accounts to try and cater for different trading strategies. Some brokers just offer one standard account which can be a good and a bad thing. It does mean the options are limited but also makes sure everyone can get access to the same features.
The account type you choose would probably depend on what matter most to you. You need to ask yourself if you need low spreads or if you would rather pay no commission fee.
I found it very easy to create a live trading account with LIRUNEX. You just need to simply click on the ‘Create Account’ button on the homepage of the broker’s website. From there, fill in your personal information including the source of income, investment objectives, employment status, etc, and upload your verification documents. The entire process usually takes less than 10 minutes to complete.
The available accounts you can choose from are as follows:
Min deposit: $25
Max leverage: 1:1000
Spreads: Floating, as low as 2.0 pips
Min deposit: $100
Max leverage: 1:1000
Spreads: Floating, as low as 1.5 pips
Min deposit: $200
Max leverage: 1:1000
Commission: $8 per lot
Spreads: Floating, as low as 0 pips
Min deposit: $10,000
Max leverage: 1:1000
Commission: $4 per lot
Spreads: Floating, as low as 0 pips
A demo account is available for practice purposes. This can be a useful way for you to practice trading online using the brokers platforms and to try out their service to see if they are for you. I would always test my trading strategies on a demo account to make sure I am happy with everything including the spreads, commissions and execution.
The LIRUNEX Islamic account is available on all 2 account types. It is a swap-free account specially designed for those of you who are Muslim traders. To open an Islamic account, first, create any of the 2 account types and then contact the support team to get your Islamic account verified.
You can send all of your trading inquiries to a knowledgeable client support team who can be reached via telephone, email, online form, Live Chat, social media, or by visiting their physical office. Support is available Monday-Friday; 09:30 am – 6:30 pm (GMT+8). I found them to be very helpful and they were quick to respond to all of my questions. They have even reached out to me without being prompted to do so. I think this is great and shows that they look out for their clients.
One of the stand out features of LIRUNEX from my perspective is the great range of payments they support for making deposits and withdrawals. I especially like that we can fund our accounts using digital wallets. This is because I like to get quick access to funds in my trading account if I want to add to a position or take a new trade in reaction to some unexpected market news. If I had to wait around days for bank transfers to clear, I could have already missed the boat.
I also like that LIRUNEX does not impose any fees for both deposits and withdrawals. Just keep in mind that your digital wallet provider and the blockchain may charge you an external fee.
The following payment options are available:
Card deposits are processed within the day; however, withdrawals take 7-10 business days.
Both deposits and withdrawals are instantly processed.
Both deposits and withdrawals using this option take 3-5 business days.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I feel that LIRUNEX is a solid trading broker for retail traders who are looking to buy and sell multiple financial assets. I find they have a vast selection of trading instruments including favourites such as forex, stocks and cryptos.
I like that you can trade with minimal fuss using the intuitive and user-friendly MT4 trading platforms for web, desktop and mobile. I especially enjoy the mobile app which makes analysing the markets and trading on the go a breeze.
There are multiple trading account options for you to choose from depending on your trading strategy. The minimum deposit is just $25 and you can even get high leverage of up to 1:1000. Not many brokers support leverage this high, LMFX being another option.
In addition to a solid trading conditions, you can get access to social trading platforms if you want to copy the strategies of other traders. You will find some educational materials which can be helpful if you are new to trading. I was also impressed by the professional customer support team.
I think they could improve by adding the MetaTrader 5 platform and some additional tools such as Autochartist or Trading Central like GO Markets do. However, the average retail trader should be more than satisfied with what is available.