IFX Brokers vs Lirunex

IFX Brokers vs. Lirunex

We devoted several hours to a comprehensive analysis of the top Forex brokers for 2023. This article compares IFX Brokers and Lirunex.

Which offers better pricing – IFX Brokers or Lirunex?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. Lirunex offers its lowest spread at 0.o pips.

IFX Brokers charge commission which apply on certain accounts. Lirunex charge commission of $8 per lot on the LX-Prime Account and $4 per lot on the LX-PRO Account.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African broker that is full regulated by the Financial Sector Conduct Authority (FSCA). This is the primary financial regulator in the country, allowing traders with IFX Brokers to enjoy a high level of deposit security and fully transparent trading conditions.

Lirunex is a Forex and CFD’s financial broker that was founded in Cyprus in 2017. It headquarters in Larnaca, Cyprus. Lirunex is a trading name of a Cypriot Investment firm, which is also respectively authorized by the Cyprus Securities and Exchange Commission (CySEC).

In addition, Lirunex is also regulated in the Republic of Maldives under Companies Act of the Republic of Maldives and the broker is also incorporated and registered in Malaysia with the Labuan Financial Services Authority.

Which broker offers the superior trading platform?

IFX Brokers gives users access to MetaTrader4 and MetaTrader5, comprising the whole MetaQuotes suite. These are regarded as the most well-liked and varied trading platforms in the market, and they provide social trading, a plethora of indicators, and strong charting tools.

Lirunex also offers trading on MT4 platform and it is available on desktop, all mobile devices as well as the web.

Do these brokers both offer MetaTrader?

IFX Brokers offer trading on the MetaTrader4 and MetaTrader5 platforms. Lirunex only offers trading on the MetaTrader4 platform.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers trading in about 60 forex pairs, where it is not clear how many forex pairs can be traded with Lirunex.

Is it safe to trade with IFX Brokers?

Yes. The main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA). They are in charge of overseeing IFX Brokers, ensuring that traders have access to transparent markets and a fair Ombudsman in the event that they run into any problems.

Is it safe to trade with Lirunex?

Although Lirunex is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa it is regulated in the other countries it operates in, which ensures that it is safe to trade with this broker.

Lirunex is authorised and regulated in Cyprus by Cyprus Securities and Exchange Commission (CySEC) which is the financial regulatory body operating in Cyprus. The company also closely follows the laws and rules by the European Directive MiFID II.

Lirunex is also registered in the Republic of Maldives under Companies Act of the Republic of Maldives, Ministry of Economic Development, to operate a Forex platform. Lirunex is also incorporated and registered under the law of Malaysia under the Labuan Financial Services Authority.

Together with its European set of operational standards followed by CySEC supervision, Lirunex is considered a safe broker.

Who is IFX Brokers?

The South African foreign exchange broker, IFX Brokers is subject to the oversight of the Financial Sector Conduct Authority. The ability of any broker firm to continue operating is significantly impacted by the various regulations and limits they must adhere to. Because businesses have legal safeguards in place, there is less of a chance that they will become victims of fraud or other financial misdeeds.

IFX Brokers give its customers access to the MetaTrader 4 and MetaTrader 5 platforms, which are considered to be two of the most widely used and well-known platforms in the foreign exchange market. This is done in order to facilitate the speedy completion of foreign currency transactions.

These systems give its users access to an extensive variety of charting capabilities, a user-friendly interface that is able to handle many chart layouts and is available in two languages, and efficient order administration software.

MetaTrader versions 4 and 5 can not only be used on personal computers, but they are also compatible with mobile devices that run the iOS and Android operating systems and do not require the installation of any additional software.

The clients of IFX Brokers have access to an incredibly wide variety of trading alternatives and financial marketplaces to trade in. Products such as spot metals, energy, commodities, contracts for difference, stock indices, foreign currency, and virtual currencies are included in this category.

In addition to providing access to sixty different currency pairings, IFX brokers provide its customers with the opportunity to trade in natural gas, oil, and precious metals such as gold, silver, platinum, and palladium.

The lowest amount of money that must be deposited into a regular account is $100, and the smallest possible trade size is one hundredth of a lot. The U.S. dollar, the euro, and the South African rand are the primary currencies that can be used with this account.

In addition, the organization provides a demo account for potential customers to test out.

Customers of IFX brokers have access to a variety of easy methods, such as Pay Quick, Visa, and MasterCard credit cards, for depositing funds into and withdrawing funds from their accounts.

The fact that there are no costs associated with either deposits or withdrawals is the best aspect. Customers who are located in South Africa normally need between two and five hours to finish the withdrawal process.

On the other hand, it is common practice for businesses serving foreign customers to require a period of four or five working days to finish the withdrawal process.

Who is Lirunex?

Lirunex was founded in 2017 in Cyprus and has emerged as an online broker, specializing in forex and CFD trading for individuals, as well as institutional investors and fund managers.

Headquartered in Larnaca, Cyprus, Lirunex falls under the authorization of Cyprus Securities and Exchange Commission (CySEC). The broker is also registered with the Ministry of Economic Development in the Republic of Maldives, as well as the Labuan Financial Services Authority (LFSA) in Malaysia.

Since its inception, Lirunex has won a number of awards of which the latest was ‘Fastest Growing Forex Broker Asia 2022‘, at World Business Outlook Awards. In 2021 it received awards for Best Trading Services in Malaysia and Best Broker in Philippines, to mention but a few.

Lirunex offers trading in financial instrument that include major and minor forex pairs, precious metals, commodities and CFDs on index, cryptocurrencies and stocks, all delivered with instant STP order execution.

Traders have a choice between four live account types, namely LX-Standard, LX-Advanced, LX-Prime and LX-Pro. The minimum deposit is with the LX-Standard account of $25. The broker also offers the option of opening a demo account as well as an Islamic Swap-Free Account for clients that follow the Muslim faith.

There are no deposit fees charged and the only commission charges are on the LX-Prime and LX-Pro accounts.

Trading is offered on the MetaTrader4 platform with its cutting-edge and user-friendly features. It gives access to all major trading instruments with multi-currency and language support. Included are automated trading expert advisors. MT4 is available on the go or on your desktop.

The Lirunex Frequently Asked Questions page serves as a repository for informative resources. The Frequently Asked Questions section of Lirunex is quite comprehensive, covering ground from Account Details through Funding and Withdrawal. There is not much available for research tools but for daily news and commentary.

With Lirunex, traders have the opportunity for quality trading whether you’re a beginning trader or a professional. It offers a range of account types, competitive fee conditions, a variety of trading assets all on the popular MT4 platform.