Pros & cons of Lirunex broker

Lirunex Fact sheet

Lirunex is regulated offshore by the Labuan Offshore Financial Services Authority (LOFSA). Unfortunately, there is no negative balance protection, but other security measures are in place. Negative balance protection provides the ability not to lose more than the trading account balance, which is an effective measure against risks when trading with high leverage. Lirunex offers a strong margin call, making it nearly impossible to go into negative numbers. Segregated accounts protect client funds by preventing the broker from using client money located in these accounts. 

There are three account types offered by Lirunex: LX-STANDARD, LX-PRIME, and LX-PRO. Each of them has its advantages and disadvantages when it comes to trading the financial markets. The LX-Standard account is an entry-level account type without commissions and average spreads starting from 1.5 pips for Forex major pairs, including EUR/USD and GBP/USD. The main difference between different account types is that of spreads, commissions, and minimum deposits required by the broker. For getting lower spreads from 0.0 pips, clients will have to open an LX-Prime account that has a commission of 8 USD per lot, while the minimum deposit required is 200 USD or the equivalent in whatever base currency you are using. If the client happens to have at least $10,000 available for trading, they can go for the ultimate LX-Pro account that offers spreads from 0.0 pips at an even lower commission of just 4 USD per lot. Although scalping is available and allowed for all three account types, the best scalping accounts are LX-Standard and LX-Pro as they have got the lowest spreads. The standard account is not recommended for scalping as the spreads start from 1.5 pips. Hedging is allowed for all three accounts as well. With the dynamic leverage system, it is possible to start trading with as little as 25 USD and slowly increase the capital and reduce leverage to control risks and market exposure. PAMM and portfolio management accounts are also available.

Comparing Lirunex fees with other brokers

Lirunex fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Lirunex fees compared to CM Trading fees

Lirunex fees compared to plus500 fees

Lirunex fees compared to XM fees

Lirunex fees compared to AvaTrade fees

Lirunex fees compared to Capital.com fees

MetaTrader 4 and the Lirunex App are the two trading platforms offered by the broker. The Lirunex app is for mobile devices of both Android and iOS, and it offers limited capabilities. Trading, market analysis, and copy trading are all available on the Lirunex mobile app which is very handy on the go. For desktop traders, the MetaTrader 4 (MT4) platforms will offer world-class technical analysis tools and custom indicators and Expert Advisors are also supported. 

Lirunex Forex Education is the dedicated section on the broker’s website providing articles on various Forex trading terms and how to start trading. These educational materials should provide beginners with the basic knowledge required to start practicing trading skills on a demo account. Besides educational materials, Lirunex also offers market research tools. VPS automated trading services are offering the possibility to automate the whole trading process. Lirunex is partnering with several VPS service providers to ensure the lowest latency and high execution speeds that are critical when using VPS services.

There is WhatsApp, phone support, and email support available. Clients can also leave a message. Unfortunately, there is no live chat possibility except the WhatsApp support and the website often switches to different languages without user input. Other than that, clients can contact the broker directly or visit the offices in the Marshall Islands and Malaysia. 

Lirunex is a broker located and regulated offshore by the Labuan Offshore Financial Authority (LOFSA). They provide more than 100 instruments across the range of several popular asset classes including Forex, indices, commodities, cryptos, and share CFDs. The spreads for standard accounts start from 1.5 pips and for lower spreads, there are several other account types offering spreads from as low as 0.0 pips with commissions. The minimum deposits are low and there is a dynamic leverage system offering the possibility to increase leverage when the account balance is low. The broker doesn't offer negative balance protection which is a downside of Lirunex, especially as they have such high leverage possibilities. There are Islamic and demo accounts available. There is no live chat at this point, which is another downside of the broker, but they have WhatsApp. All in all, the broker seems affordable to trade and has good educational materials and VPS services.