Entering the financial market and embarking on trading is a challenging decision that demands thorough consideration. The trading sector is rife with deceitful brokers whose primary aim is to ensnare individuals into their financial schemes and abscond with their funds.
In this Lirunex review, we will go deeply into the broker’s platform, examining all crucial features including leverage, spreads, and licensing.
Website – https://lirunex.com/
Website Availablity – Yes
Address – Republic of the Marshall Islands
Warning – Not recommended by review website like RefundBack
Domain Age –
Domain Name: lirunex.com
Registry Domain ID: 2012425004_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: https://www.godaddy.com
Updated Date: 2023-01-15T21:07:59Z
Creation Date: 2016-03-15T07:59:20Z
Registrar Registration Expiration Date: 2025-03-15T07:59:20Z
Lirunex Claims and Offers
The foremost aspect to address in this review is the broker’s regulatory status. LIRUNEX, a retail forex and CFD broker, asserts registration in Cyprus and purported regulation by multiple regulatory bodies. Additionally, the broker asserts a global presence with branches holding various licenses, including the Cyprian branch regulated by CySEC and the Marshall Island branch lacking a specific license.
Is Lirunex legit or a scam?
Despite these assertions, several inconsistencies on the platform raise suspicion. Notably, the maximum leverage available across all accounts and jurisdictions stands at 1:500, far exceeding the requirement stipulated by CySEC, which permits a leverage rate of up to 1:30. Based on these observations and others, we infer that Lirunex likely holds only one license from the LFSA.
However, it’s important to note that LFSA regulation may not carry the same level of credibility as other regulatory authorities. Malaysia, the jurisdiction of LFSA, lacks significant economic or political influence to effectively oversee the operations of a globally operating brokerage.
Interface and Information Transparency
In terms of interface, Lirunex lacks the sleekness seen on more prominent websites. The design appears rather mundane, and the transitions between sections are not seamless.
However, regarding information provision, Lirunex excels in offering comprehensive details about almost every aspect of its platform. We found it easy to access information about leverage variations across different accounts, minimum and maximum trade sizes, and numerous other particulars. For this, the broker deserves commendation, despite the possibility that some provided information may not be entirely accurate.
Is it safe to invest with Lirunex?
Lirunex presents itself as a Forex broker with purported European licensing, yet operates solely under a Malaysian license, which may not ensure the highest level of financial security.
Furthermore, the broker’s website fails to offer a satisfactory user experience; it appears cumbersome and lacks aesthetic appeal. While its software functionality may not be inherently flawed, the overarching concern lies with the broker’s integrity rather than its software.
Upon closer examination of the trading terms and conditions, numerous questionable aspects emerge, casting doubt on the broker’s reliability. The leverage is excessively high, and the spreads unusually low, raising suspicions. Considering these factors and more, we find the suspicions of fraud surrounding Lirunex to be substantial. Consequently, we do not recommend it to our readers.
Conclusion
If you’ve been a victim of an Lirunex scam, forex scam, cryptocurrency scam, romance scam, or any other fraudulent activity, you can file a complaint effortlessly on the Enverra Capital website. Our committed team provides a free consultation service. Our chargeback specialists will thoroughly evaluate your case to ascertain the possibility of fund recovery.
Check out the list of scam brokers 2024 here.
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