Lirunex Review

Review

 

Lirunex serves traders from headquarters in the Marshall Islands with a competitive trading environment. It focuses on algorithmic trading and retail account management. With a minimum deposit of $25, Lirunex ensures all traders have access. I reviewed this broker to determine if it delivers raw spreads and fast order execution from its MT4 trading platform. Is Lirunex the right broker for you?

Pros

  • Low minimum deposit and high dynamic leverage

  • VPS hosting for algorithmic traders and third-party copy trading services

  • MAM/PAMM accounts for traditional retail account management

  • Withdrawable bonuses with reasonable requirements

Cons

  • No research or dedicated educational section for beginner traders

  • Limited asset selection

Summary

Lirunex - A competitive trading environment for algorithmic and copy traders

Headquarters

Marshall Islands

Regulation

LFSA, CySEC

Established

2016

Execution Type

Market Maker/ECN Hybrid

Minimum Deposit

$25

Maximum Retail Leverage

1:1000

Trading Platform(s)

MT4

Lirunex - first look:

  • The limited asset selection makes Lirunex a choice for traders with a focused strategy that requires few but liquid assets.
  • Scalpers and other high-frequency traders will benefit from fast order execution and high leverage.
  • The retail loss rate ranks among the best industry wide.
  • MAM/PAMM accounts and third-party copy trading services.
  • Low minimum deposit and withdrawable bonuses with reasonable conditions.

Lirunex Main Features

Retail Loss Rate

66.67%

Regulation

Yes

Minimum Raw Spreads

0 pips

Minimum Standard Spreads

1.5 pips

Minimum Commission for Forex

$8.00 per round lot

Commission for CFDs/DMA

$4.00

Commission Rebates

Yes

Minimum Deposit

$25

Demo Account

Yes

Managed Account

Yes

Islamic Account

Yes

Inactivity FeeNone

None

Deposit Fee

low as 0%

Withdrawal Fee

low as 0%

Funding Methods

10

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Regulation and Security

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. Lirunex presents clients with two registered entities.

Country of the Regulator

Name of the Regulator

Regulatory License Number

Malaysia (The Federal Territory of Labuan)

Labuan Financial Services Authority

License Number MB/20/0050

Cyprus

Cyprus Securities and Exchange Commission

License Number 338/17

Please Note:

  • Most clients will trade with the Marshall Islands subsidiary, which operates as a duly registered international business corporation (IBC) but remains an unregulated entity.

The Marshall Islands subsidiary offers:

  • Higher leverage
  • Negative balance protection
  • Segregation of client deposits from corporate funds
  • Flexible trading conditions

What is missing?

  • Investor compensation fund or
  • Third-party insurance or
  • Financial Commission membership
  • Transparency concerning its core management team

Noteworthy:

  • The Cyprus subsidiary offers an investor compensation fund up to 90% or €20,000 of deposits but more restrictive trading conditions.
  • The Cyprus subsidiary has four cross-border registrations, with regulators in the UK, Germany, France, and Spain.

Lirunex Regulators

Lirunex IBC

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Fees

I rank trading costs among the most defining aspects when evaluating a Forex broker, as they directly impact profitability.

Lirunex offers traders two cost structures:

  • Commission-free trading costs start at 1.5 pips or $15.00 per 1 standard lot and 1 pip, or $10.00.
  • Commission-based accounts commence with a minimum spread of 0 pips and a commission of $8.00 per round lot for a final cost of $8.00.

Here is a screenshot of Lirunex live quotes during the London-New York overlap session in their MT4, the most liquid one, where traders usually get the lowest spreads.

Lirunex Live MT4 Forex Quotes

Which pricing environment should Forex traders select?

I recommend the following:

  • The commission-based cost structure is best as trading costs are between 20% and 45%+ cheaper.
  • The minimum deposit for the commission-based account is a reasonable $200 versus $25 and $100 for both commission-free alternatives.
  • Traders with $10,000+ qualify for another 50% trading cost reduction and get raw spreads from 0.0 pips for a commission of $4.00 per standard lot.

What is missing at Lirunex?

  • A volume-based rebate program for the commission-based trading account.

The average trading costs for the EUR/USD in the commission based Lirunex LX Prime account:

Average Spread

Commission per Round Lot

Cost per 1 Standard Lot

0.0 pips

$8.00

$8.00

Noteworthy:

  • The commission is 50% higher versus many competitors but drops to $4.00 in the LX Pro account available for deposits above $10,000.
  • Swap rates on leveraged overnight positions rank among the lowest, resulting in excellent trading costs for traders holding positions overnight.

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

Noteworthy:

  • Lirunex offers a positive swap at the time of writing on EUR/USD short positions and other select assets, meaning traders can get paid money to hold such a position overnight.

MT4 traders can access swap rates from their platform by following these steps:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Swap Long and Swap Short.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based Lirunex LX Prime account.

Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for one night will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.0 pips

 

$8.00

-$4.59914

X

$12.59914

0.0 pips

 

$8.00

X

$0.65604

$7.34396

Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for seven nights will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.0 pips

 

$8.00

-$32.19398

X

$40.19398

0.0 pips

 

$8.00

X

$4.59228

$3.40772

My additional comments concerning trading costs at Lirunex:

  • $5.00 monthly inactivity fee after 90 days of dormancy.
  • Third-party payment processor costs.
  • No currency conversion cost listed.

 

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What Can I Trade?

The limited asset selection at Lirunex caters well to traders with focused strategies who require few but highly liquid assets. Scalpers have enough choices, while deep liquidity results in tight spreads.

Traders who seek a diversified approach or cross-asset exposure will not achieve it, and I cannot recommend Lirunex for those strategies.

What is missing?

  • Lirunex only offers four commodities.
  • The equity selection focuses on large-cap names focused on trending names.
  • Cryptocurrency CFD traders only have a choice of five cryptocurrency assets.

Asset List and Leverage Overview

Currency Pairs

40

Cryptocurrency Pairs

5

Commodities and Metals

4

Index CFDs

10

Equity CFDs

47

Bonds

0

ETFs

0

Options, Futures, and Synthetics

0

Maximum Retail Leverage

1:1000

Maximum Pro Leverage

1:1000

Lirunex Leverage

The maximum leverage at Lirunex is 1:1000 at the Marshall Islands subsidiary for accounts below $2,000 and 1:500 up to $15,000. I recommend the LX Prime/LX Pro accounts for active traders and scalpers. It presents more overall trading flexibility, which directly impacts profitability.

Other things to note about Lirunex leverage:

  • Lirunex offers dynamic maximum leverage, lowering the total based on the account balance (most brokers reduce it based on trading volume), assisting proper risk management.
  • Negative balance protection exists, ensuring traders never lose more than their deposit.
  • The Cyprus units limits it to 1:30 amid regulatory restrictions.

Lirunex Trading Hours (GMT +2 Server Time)

Asset Class

From

To

Cryptocurrencies

Sunday 00:00

Saturday 24:00

Forex

Monday 00:05

Friday 23:55

Commodities

Monday 01:05

Friday 23:55

European Index CFDs

Monday 10:00

Friday 18:30

US CFDs

Monday 16:30

Friday 23:00

Noteworthy:

  • Equity markets open and close in line with real market hours each trading session and are not operational continuously like Forex and cryptocurrencies.

I recommend the following step for MT4 traders to access trading hours:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Sessions.

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Account Types

Traders at Lirunex may choose between four account types, where most core trading aspects remain the same.

Traders must decide between the following:

  • Commission-free versus commission-based account.

My observations concerning the Lirunex account types:

  • Beginner traders may start with as little as $25 in the LX Standard account, with trading costs for the EUR/USD at 1.5 pips or $15.00 per 1 standard round lot.
  • The LX Advanced, available from $100, lowers trading costs by 33.3%.
  • Both commission-free trading accounts serve little purpose, as traders can open a better-priced alternative for $200.
  • The best value is available in the LX Prime account, where Lirunex lowers fees to an attractive range for a minimum deposit of $200.
  • The LX Pro account features highly competitive trading costs but requires a minimum deposit of $10,000.
  • Lirunex only offers US Dollar accounts.
  • All trading accounts are for MT4, the market leader for algorithmic trading, which also features an embedded copy trading service.
  • VPS hosting is available with third-party providers at a cost.
  • Lirunex offers third-party copy trading from ZuluTrade and Chills Trading.
  • MAM/PAMM accounts exist for traditional retail account management.
  • Islamic and corporate accounts are available.

My recommendation:

  • Traders should opt for the LX Prime account unless they can afford the LX Pro alternative, where trading costs rank among the best industry-wide in the Pro account and reasonable in Prime

Lirunex Account Types

Lirunex Demo Account

Traders can open unlimited demo accounts in MT4. They are ideal for testing and bug fixing EAs or for testing new trading strategies. I caution that no demo account can replicate live trading conditions, as it omits trading psychology. Therefore, they are great for testing and fixing but not as an educational tool.

My recommendation:

  • MT4 offers flexible deposits, and traders should select an amount equal to what they plan for their live trading account.

 

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Trading Platforms

Lirunex only provides the out-of-the-box MT4 trading platform. It is available as a desktop client, a web-based alternative, and a mobile app. MT4 maintains its leadership position as the most trusted Forex trading platform but requires upgrades.

With more than 25,000 available plugins and EAs, traders can transform MT4 into a cutting-edge trading solution, but traders must purchase them, as the free ones hardly function as advertised.

What is missing?

  • Lirunex does not provide any MT4 plugins, leaving traders with the core MT4 version.
  • An option for free VPS hosting based on monthly trading volume.

My observations:

  • Traders with MT4 EAs must use the desktop client.
  • VPS hosting supports algorithmic traders who require 24/7 access, but it comes at a cost.

Overview of Trading Platforms

MT4

Yes

MT5

No

cTrader

No

Proprietary/Alternative Platform

No

Automated Trading

Yes

Social Trading / Copy Trading

Yes

MT4/MT5 Add-Ons

No

Guaranteed Stop Loss

No

Negative Balance Protection

Yes

Unique Feature One

VPS hosting

Unique Feature Two

Third-party copy trading services

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Unique Features

Lirunex offers VPS hosting in partnership with ForexVPS or Beeks, but it comes at an extra cost of no less than $18 monthly. I would like to see an offer for high-volume traders to obtain free VPS hosting.

Besides the integrated copy trading feature in MT4, Lirunex offers services from ZuluTrade and Chills Trading, ensuring traders have a diverse choice of trading strategies to follow.

I also like the MAM/PAMM accounts for traditional retail account management. Lirunex supports skilled traders and portfolio managers to build an asset management business using the Lirunex infrastructure. The customizable trading conditions and allocation methods offer managers and investors a flexible approach for numerous strategies.

Lirunex MAM/PAMM Accounts

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Research and Education

Lirunex neither publishes in-house research nor sources it from third parties. With the wealth of quality free and paid-for research accessible online, I do not count the absence as a negative in my Lirunex review. It does create a service gap to competitors who provide traders with quality research.

Lirunex does not offer any educational tools for beginner traders. It functions entirely as an execution-only broker. Since the low minimum deposit requirements will attract many first-time traders, it would benefit Lirunex to rethink its approach. 

My takeaway:

  • Traders should rely on Lirunex as an execution-only broker, where it maintains a competitive trading environment, especially for deposits above $10,000.

My recommendations:

  • Beginner traders may explore the MAM/PAMM accounts, and the copy trading services available at Lirunex.
  • MT4 has thousands of EAs, and traders may research them to determine if they suit their trading style.
  • Traders should acquire high-quality educational content elsewhere before trading at Lirunex.
  • Traders who seek market research or trading signals may source it from countless free research available online.
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Customer Support

Customer support is available from Monday through Friday between 10:00 and 17:30 (GMT+8).

Lirunex Customer Support

Since Lirunex explains its products and services well and ensures flawless operations, I doubt traders will be likely to ever require customer support.

My recommendations:

  • The FAQ section answers several questions, and traders should read them before contacting a support representative.
  • The most convenient contact method is either live chat or WhatsApp messenger.
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Bonuses and Promotions

At the time of this review, Lirunex offered a 20% bonus limited to $6,000 and a 50% bonus up to $10,000. Both require a minimum deposit of $200 and expire at the end of November 2021. Traders may withdraw bonus funds, and the conditions are reasonable, where the 50% bonus remains the better choice due to better withdrawal requirements.

 

Lirunex also hosts a live trading competition with a prize fund of $2,600. It appears they are regular, and the next one takes place between October 18th, 2021, and November 5th, 2021.

An introducing broker and white label partnership program are equally available, supporting passive income generation with favorable terms.

My recommendations:

  • Traders should read and understand the terms and conditions.
  • The 50% bonus offers the most favorable withdrawal requirements.

 Lirunex 50% Bonus Offer

Lirunex IB Offer

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Opening an Account

I appreciate the hassle-free account opening process at Lirunex. Traders must select their account type and username, fill out their name and email, select a password, and provide their country of residence with a valid mobile phone number. Account verification is mandatory, and most traders will complete it after sending a copy of their ID and one proof of residency document.

Lirunex Account Opening

Minimum Deposit

The minimum deposit at Lirunex ranges between $25 and $10,000, depending on the preferred account type.

Payment Methods

Lirunex offers bank wires, credit/debit cards, three domestic solutions in Asia, three cryptocurrency payment providers, offers PayPal upon request, and notes the availability of NganLuong is coming soon.

Accepted Countries

Lirunex caters to most international traders and is a rare broker accepting US person traders. Its website lists North Korea, Congo, Afghanistan, Cuba, Mali, Syria, Sudan, Yemen, and Venezuela as ineligible countries.

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Deposits and Withdrawals

All financial transactions take place in the secure back office of Lirunex. Besides bank wires and credit/debit cards, only cryptocurrencies are available. I miss the flexibility of some of the better-established online payment processors.

My observations:

  • Deposits remain free of charge, but third-party costs may apply.
  • Bank wire withdrawals cost $35, and credit/debit cards face a 2.00% charge plus additional third-party fees.
  • Lirunex processes withdrawals within 24 hours, and all will follow the deposit path.
  • Processing times depend on the payment processor, but only local Asian ones are instant.
  • Withdrawals may take up to ten business days to arrive.
  • Traders outside of South-East Asia and China must heavily rely on credit/debit cards unless they prefer cryptocurrencies.
  • Cryptocurrency deposits have a minimum amount of $200.

My recommendations:

  • Traders should explore cryptocurrencies if they want to trade at Lirunex.
  • It is ideal to use an option besides the bank or credit/debit card used for day-to-day financial operations.
  • I also recommend checking the costs from the payment processor to the bank account unless a debit card is available.

Lirunex Deposit and Withdrawal Methods for International Traders

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General Information


Company Information

  • Broker's Name : Lirunex
  • Headquarters : Cyprus
  • Regulation : CySEC, LFSA

Account Information

  • Type of Broker : 35,38
  • U.S. Clients Allowed :
  • Minimum Deposit : $25
  • Maximum Leverage : 1:1000
  • Commissions / Spreads : both
  • Account 1 : Standard
  • Account 2 : Advanced
  • Account 3 : Prime
  • Account 4 : FX
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4
    • Platform Languages :
      • English
  • Trading Signals :
  • Charting Package :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Japanese
      • Chinese
      • Thai
      • Bahasa
      • Other
  • Support Hours : M - F, 10:00 - 17:30 (GMT+8)
  • E-mail Support :
  • SMS Support :
  • Chat :
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Bottom Line

I like the trading environment at Lirunex for scalpers and high-frequency traders with a focused trading strategy requiring few but liquid assets. Lirunex offers high leverage and is an execution-only broker. MAM/PAMM accounts cater to traditional retail account management, VPS hosting supports algorithmic traders, and Lirunex offers two copy trading services plus the integrated one in MT4.

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FAQs

Is Lirunex a scam?

Lirunex is a duly registered broker in two jurisdictions with regulatory oversight.

How long does it take to withdraw from Lirunex?

Lirunex processes withdrawal requests within 24 hours, but it can take up to ten business days to receive funds, dependent on the payment processor.

Is Lirunex legit?

Lirunex operates as a legit and regulated Forex broker present in seven countries.

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