Negative Balance Protection is a policy that protects retail clients from ending up with a negative balance in their trading accounts. In the volatile world of financial markets, drastic price changes can occur within fractions of a second. This volatility can potentially lead to losses that exceed the trader’s account balance, thus resulting in a negative account balance. The LX-Pro Account could be an excellent fit for seasoned traders with a significant capital. With a minimum deposit of 10,000 USD, this account maintains the same leverage levels as the previous accounts and features floating spreads as low as 0.0.
Trading with Lirunex will involve fees from $4 USD, spreads from 0.0 pips to 1.5 pips, and commission-free trading depending on the account traders select. Withdrawals at Lirunex are usually processed within 24 hours, except on public holidays and weekends. So, make sure you withdraw funds during working hours to get them as quickly as possible. The funds will be transferred to your account via the same method used during depositing. Lirunex has been a great partner in my trading journey, their platform is easy to use and they offer some of the lowest fees in the industry.
- As an investor or trader, you need a reliable brokerage platform that offers a wide variety of assets for trading.
- Lirunex, as a globally recognized financial broker, understands this importance and offers a wide range of deposit and withdrawal methods.
- They are celebrating their 7th anniversary with exceptional offers, indicating their sustained presence in the industry.
- Respecting the principles of Islamic finance, Lirunex offers two types of Islamic accounts – Islamic Standard and Islamic Prime.
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Lirunex Withdrawals will be processed within 24 hours or up to 10 Days, depending on the option selected. In order to complete the registration process the applicant will be required to complete an online registration form. First time when I started to use Lirunex I got a little worried, but over the years I became satisfied with their services. I’d highly recommend Lirunex to traders looking for a reliable and trustworthy broker. Customer Support is excellent – never need to wait long for an answer or a solution to my issues.
Live Chat and Contact Form
These account types, visible on their website under the “trading” section, cater to both traditional and Islamic trading principles. Each account is distinctive in its own right, allowing traders to choose an option that is tailored to their trading strategy and risk tolerance. However, it’s important to note that the account types page only provides a table comparison overview of each account type without much additional information. Lirunex offers its proprietary Trading App, which incorporates a host of features designed to enhance user experience and streamline trading processes.
- The two downsides of Lirunex are the lack of negative balance protection and the lack of live chat.
- Easy and fast online account opening with widely supported funding methods despite the limited range of instruments which is Forex and CFDS.
- Lirunex features a live chat support system for real-time assistance on its website.
- The total commission for LX-STANDARD is Zero per lot, for LX-PRIME is €/$ 8 per lot and for LX-PRO is €/$ 4 per lot.
- 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.
- These risks can range from financial fraud to difficulty in ensuring smooth transactions due to infrastructural inadequacies.
Lirunex also features other promotions, which are time-limited but well-introduced on its website. Traders who seek a diversified approach or cross-asset exposure will not achieve it, and I cannot recommend Lirunex for those strategies. Withdrawal requests at Lirunex are processed within 24 hours from submission from Monday to Friday, excluding Public Holidays. Funds are returned to your account using the same method you utilized for deposit. It’s important to note that while Lirunex doesn’t impose any withdrawal fees on most methods, charges may be applied by the bank or the crypto exchange or provider. A gas fee applies for transactions involving the Ethereum blockchain, which is essentially a fee paid for transacting on the Ethereum network.
LX-STANDARD
Lirunex claims to possess a Cyprus Securities and Exchange Commission (CYSEC) license in the aforementioned PDF. This is an essential piece of information since the CYSEC regulation mandates that all licensed brokers provide negative balance protection to their clients. However, just like their negative balance protection policy, this information is not prominently displayed on their website. While Lirunex does provide options for different types of traders, remember that forex trading involves significant risks.
Here, you can boost your client trades for a chance to win prizes worth $380,000. The listed countries, like Libya, Syria, Sudan, South Sudan, Yemen, Somalia, and Afghanistan, are currently or have recently been in states of significant political instability or conflict. Consequently, operating in these regions can expose Lirunex and its clients to unnecessary risks.
The Importance of Comprehensive Trading Resources
In addition to that, a phone number to contact customer support should also be made available. The lirunex malaysia minimum deposit requirement is $100, and both bonuses are withdrawable, but traders should read and understand the terms and conditions before requesting one. 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. Trading with a regulated broker will limit the potential for fraud and malpractice.
How to Trade with Lirunex?
Engaging with a regulated broker such as Lirunex ensures that traders are dealing with a firm held to high operational standards. As required by law, such a firm prioritizes the interests of its customers and is committed to preserving the fairness and integrity of the financial markets. In addition to this, Lirunex Limited has been incorporated and registered under the law of the Republic of the Marshall Islands as an International Business Corporation. Furthering its reach, the company has also been incorporated and registered in Hong Kong to deliver the group’s financial services and fintech solutions. Lirunex’s registered office in Hong Kong can be found at Unit D,16/F, One Capital Place, 18 Luard Road, Wan Chai, Hong Kong. Lirunex is a global brokerage firm that has left a profound imprint on the financial industry.
Lirunex PAMM/MAM Accounts
LIRUNEX is a trading name of LIRUNEX Limited, which is regulated by Labuan Financial Services Authority (LFSA).
PipPenguin and its staff, executives, and affiliates disclaim liability for any loss or damage from using the site or its information. One of the vital aspects that traders consider when choosing a broker is the ease and flexibility of depositing and withdrawing funds. Lirunex, as a globally recognized financial broker, understands this importance and offers a wide range of deposit and withdrawal methods.
Being regulated by reputable authorities instills trust and credibility in the services Lirunex offers. The strict regulatory framework they adhere to ensures a high level of security for client funds and transparency in their operations. Additionally, this regulated broker abides by the necessary regulations to provide a fair trading environment. Level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using… Lirunex offers a 100% deposit bonus to boost your trading efficacy by up to $20,000. This promotion is aimed at traders looking to level up their trading experience and is valid for first-time deposits in LX-Standard or Islamic Standard accounts.
PARTNER WITH TRUSTED GLOBAL BROKER
Additionally, regulations ensure that brokers like Lirunex have the necessary financial resources and adhere to fair pricing and execution practices. These firms are also obligated to protect client funds, separating them from the firm’s operational funds, safeguarding the clients’ money even in the event of the firm’s bankruptcy. However, there are indications that despite having an office in Malaysia, the operator of the Lirunex trading brand does not have a license to provide investment services in the country. Finance Magnates checked the SCM’s registry of licensed companies, and Lirunex is currently not listed.