Introduction to Lirunex:
According to the search results from the Maldives Business Registration (Business Portal) and the Hong Kong Companies Registry Integrated Companies Information System (ICRIS) websites, the company is registered in both the Maldives and Hong Kong. However, the Maldives Business Registration (Business Portal) website did not provide information regarding the registered business name, business activities, or business licenses. In addition, TraderKnows found through a Whois query that the company's official website domain was registered on March 15, 2016, and the domain registration has been active for over 7 years.
Is Lirunex compliant and legal? Does it hold the necessary financial regulatory licenses?
Lirunex states on its official website that the company holds an operational license for forex trading platforms in the Maldives. However, a check by TraderKnows on the Maldives Monetary Authority (MMA) website revealed that the financial institution did not regulate or authorize this financial service provider. Similarly, there is no regulatory or authorization information related to this company on the websites of the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) in Hong Kong. Therefore, Lirunex is using false regulatory information for deceptive promotion and engaging in illegal operations.
Lirunex's offered trading instruments:
Lirunex's official website indicates that the company provides financial asset trading services, including Forex, precious metals, energy, stocks, and indices for investors.
Lirunex's trading software:
On the official website, the company provides a download link for the MetaTrader4 (MT4) trading software. This software supports desktop (Windows/IOS) and mobile (IOS/Android) platforms.
Safety of funds:
Lirunex does not disclose any third-party fund regulatory information on its official website, raising concerns about the safety of users' funds.
Deposit and withdrawal channels:
According to information on the official website of Lirunex, the company supports various channels and methods for deposits and withdrawals, including local bank transfers in East Asia and China, as well as VISA, Mastercard, and Perfect Money.
Leverage ratio:
The leverage ratio disclosed by the trading company is 1:20-1:2000, whereas generally compliant trading companies have leverage ratios ranging from 1:10 to 1:100.
Summary
Lirunex is a forex broker engaged in illegal financial activities using false regulatory information. The broker has not disclosed any critical information regarding fund safety. TraderKnows cautions users that Lirunex is a highly risky forex trading platform. It is advised to stay away from this platform to prevent personal property losses.
Currently, Lirunex is listed as "Suspected Fraud" on TraderKnows.
