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TMGM , LIRUNEX Broker Comparison

Do you want to know which is the better broker between TMGM and LIRUNEX ?

In the table below, you can compare the features of TMGM , LIRUNEX side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2  brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions (ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
  • Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Pin on the left
7.5
Regulated
No guarantee
10-15 years
ASIC,VFSC
Supported
Supported
--
AA
AA
371.2
6
22
6
1988
1988
1984
A

EURUSD:0.1

EURUSD:-1

29
-4
29
AA

EURUSD:10.08

XAUUSD:23.62

AA

EURUSD: -6.35 ~ 2.75

XAUUSD: -37.21 ~ 23.55

AAA
0.3
103.4
FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48
$100
1:500
From 0
--
--
0.01
--
Pin on the left
7.92
Regulated
No guarantee
5-10 years
AMF,CYSEC,LFSA,CNMV
Supported
Supported
WebMoney,Moneybookers,PerfectMoney,UnionPay,cashU,Wire Transfer,Neteller,Debit Card,Paypal,Credit Card,Local Deposits,Skrill,Bitpay,AliPay,Multiple local methods,WeChat Pay
AA
AAA
309.8
66
71
66
1892
1892
1328
AA

EURUSD:-0.7

EURUSD:-2.9

13
1
13
A

EURUSD:20.19

XAUUSD:23.17

A

EURUSD: -7.67 ~ 5.17

XAUUSD: -43.53 ~ 24.43

AA
0.3
31.5
--
$200
1:2000
from 0.0
--
--
--
--

Score
Regulatory Status
Regulated
Regulated

TMGM 、 LIRUNEX BrokerRelevant information

TMGM 、 LIRUNEX BrokerRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of tmgm, lirunex lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

tmgm

Let's Start Here:

TMGM appears to a respected forex broker, presenting access to more than 12,000 spanning forex, CFDs, and cryptocurrencies. Traders can enjoy competitive spreads across various instruments, exemplified by the EUR/USD currency pair with an average spread of around 0.1 pips. Besides, TMGM extends a diverse set of trading platforms, notably including MetaTrader 4 and IRESS. Morever, TMGM enriches the trading journey with rich educational resources and trading tools. Lastly, 24/7 multilingual customer support stands ready. However, the question remains: Does TMGM truly live up to its claims?Let's explore more.

TMGM Review Summary in 10 Points
Founded2013
HeadquartersSydney, Australia
RegulationASIC, VFSC (Offshore)
Market Instrumentsforex, indices, shares, futures, precious metals, energies and cryptocurrencies
Demo AccountAvailable
Leverage1:500
EUR/USD Spread1.0 pips
Trading PlatformsMT4, MT5 (coming soon), IRESS
Minimum deposit$100
Customer SupportLive chat, phone, email

TMGM Information

Founded in 2013 and headquartered in Sydney, Australia, TMGM is an online ECN/STP broker. Notably, in 2016, TMGM introduced its MetaTrader 5 platform. Subsequently, the company achieved FCA membership in the UK during 2017. The year 2019 witnessed the launch of TMGM's mobile trading app, further enhancing accessibility. By 2021, TMGM's reach expanded to encompass over 200 countries worldwide.

Offering a diverse array of more than 12,000 trading instruments spanning forex, commodities, cryptocurrencies, and stocks, TMGM caters to traders through popular platforms including MetaTrader 4 (MT4) and Iress.

TMGM's homepage

Pros & Cons

TMGM has some strong points: solid regulation, competitive costs, lots of assets, and top-notch support. But there are a couple of downsides, like inactivity fees and no MT5 yet.

ProsCons
• ASIC regulation• No US clients accepted
• Competitive spreads and low commissions• Inactivity fees applied
• Over 12000 trading instruments• MT5 not provided yet
• Both MT4 and IRESS platforms offered
• 24/7 multilingual cutsomer support
• Multiple account types with flexible options
• Rich educational resources
• High leverage up to 1:500

Is TMGM Legit?

TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC and is also licensed by the New Zealand Financial Markets Authority (FMA). Additionally, TMGM's international operations are overseen by the VFSC in Vanuatu offshore. Now, let's quickly delve into TMGM's regulations and licenses, which will shed light on how the broker ensures compliance with industry standards and protects clients.

Regulated Country Regulated AuthorityRegulated Entity License Type License Number
ASICTRADEMAX AUSTRALIA LIMITEDMarket Making(MM)436416
VFSCTrademax Global LimitedRetail Forex License40356

Under the oversight of ASIC, a prominent tier-1 regulatory authority, TMGM's Australian branch known as TRADEMAX AUSTRALIA LIMITED operates with regulatory number 436416. This entity is licensed for Market Making (MM). As per the stringent rules set by ASIC, which is globally recognized, brokers must ensure the safety of clients' funds.

regulated by ASIC

Since TMGM claims to obtain the ASIC license, an investigation team from WikiFX visited the company's registered address in Australia. This visit, conducted in person, revealed that the company is operating smoothly and on a large scale. This direct observation by the investigator enhances our confidence in TMGM's legitimacy and highlights its strong and credible operations under ASIC's regulation.

WikiFX survey
WikiFX survey

TMGM's international branch, Trademax Global Limited, operates under the regulation and authorization of VFSC offshore, holding a license for retail forex activities.

offshore regulated by VFSC

Market Instruments

TMGM goes above and beyond by offering an impressive collection of 12,000+ trading instruments, setting it apart as a broker with an exceptional range of options, covering 60 currency pairs, indices, and stocks sourced from major global exchanges. Moreover, TMGM extends its offerings to include futures, as well as sought-after precious metals like gold and silver. Adding to the mix are energies such as oil and natural gas, not to mention a selection of 10 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Trading AssetsAvailable
Forex
label
Shares
label
Energies
label
Indices
label
Precious Metals
label
Cryptocurrencies
label
Futures
label
Indices CFD Dividend
label
Shares CFD Dividend
label
ETFS
label
Stocks
label
Options
label
Market Instruments

Account Types

TMGM tailors its account types to match the chosen trading platform. If you're using the MetaTrader 4 platform, they provide EDGE and CLASSIC accounts. Opting for the IRESS trading platform brings you a choice of STANDARD, PREMIUM, and GOLD accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.

MT4 Accounts: EDGE and CLASSIC

Both accounts require a minimum deposit of $100, quite reasonable for most regular traders to get started.

Classic Edge
Min Deposit$100 $100
Min Lot Size0.01 Lot0.01 Lot
Max Leverage1:5001:500
FundingFreeFree
Execution TypeECNECN
EA Available
label
label
Islamic Account
label
label
Hedging Allowed
label
label

IRESS Accounts: STANDARD, PREMIUM and GOLD

The minimum deposit requirement is $5,000 for STANDARD Account, $10,000 for PREMIUM Account, and $50,000 for GOLD Account. When it comes to fees, the Standard account entails a platform fee of $35 USD or $45 AUD per month. The Premium and Gold account holders, on the other hand, enjoy fee-free access to the platform. Additionally, all account types are subject to a data fee for each exchange they use.

Standard Premium Gold
Minimum Deposit $5,000 $10,000 $50,000
Platform Fee $35 or A$45/per monthNo FeeNo Fee
Data Fee For Every Exchange
Min. Commission $10Not mentioned
Commission Rate (cps)2.2571.8
Minimum(Trade Size)333SharesNot mentioned
Financing Libor+3.5%/-3.5%Libor +3%/-3%Libor +2.5%/-2.5%

Swap-Free Account

TMGM also provides a Swap Free account for those who are unable to pay or receive interest owing to their religious convictions. To open a Swap-Free account, you'll need to have an Edge account, which requires a minimum of $100 and a minimum lot size of 0.01.

Demo Account

Demo trading accounts are available through TMGM for anyone interested in testing the waters before opening a real account. These accounts allow you to test out the broker's services before committing any real money. In addition, it provides a means of learning as much as possible about TMGM before you commit to an investment account.

The MetaTrader4 trading platform (which we'll come to in a moment) is available to demo accounts for an entire year. However, in the event of inactivity for six months, your access will be terminated. A $5,000, $10,000, or $50,000 virtual currency balance is available to you.

Leverage

TMGM offers quite a high trading leverage up to 1:500 on all account types. Forex products trading can use leverage of up to 1:500, indices and energy with leverage of 1:100, and precious metals featuring 400x leverage.

Here's a table comparing leverage provided by major industry players. Notably, TMGM offers relatively higher leverage, though it appears somewhat more cautious compared to the other three competitors. However, users should remember that high leverage is a two-edged tool with potential risks.

BrokerTMGMExnessFXTMIC Markets
Max. Leverage1:5001:Unlimited1:20001:500

Spreads & Commissions

TMGM offers competitive spreads and commissions on their trading instruments. The exact spreads and commissions vary depending on the account type and trading platform used. The spreads on CLASSIC accounts start at 1.0 pips, with no commission charged, while the spreads on EDGE accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.

Generally, TMGM offers tight spreads on major forex pairs such as EUR/USD, with spreads as low as 0.0 pips. Commissions may be charged on some trading instruments, such as shares and futures. However, these commissions are generally competitive compared to other brokers in the industry.

Below is a comparison table about spreads and commissions charged by different brokers:

BrokerEUR/USD SpreadCommission
TMGM0.0 pips$7 per round turn
Pepperstone0.09 pips$3.5 per lot
eToro1.0 pips$0
IG0.6 pips$0
Plus5000.8 pips$0
XM0.9 pips$0

Trading Platforms

TMGM offers two popular trading platforms for their clients: MetaTrader4 (MT4) and IRESS.

Available Devices PC, Mac, Mobile (iOS and Android)
Language English
Scalping
label
Hedging
label
Automated Trading
label
One-click Execution
label
Web-based Trading
label
Mobile Trading
label
MT5
label
IRESS
label
cTrader
label
Proprietary Platform
label

MT4 is a popular and widely used platform that provides advanced charting tools, technical analysis indicators, and customizable trading robots. It also supports a variety of order types and execution modes, allowing for flexible and efficient trading.

MT4

IRESS, on the other hand, is a more sophisticated and feature-rich platform that is designed for more experienced traders. It offers advanced order management, risk management, and portfolio analysis tools, as well as advanced charting and technical analysis capabilities.

Both platforms are available on desktop, mobile, and web versions, providing traders with the flexibility to trade on their preferred device.

iRESS

Additionally, MetaTrader5 is not provided yet, and according to the announcement of TMGM's website, this popular trading platform is coming soon.

Trading Tools

TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:

  • Trading Calendar: A calendar that shows the dates and times of upcoming economic events, including central bank meetings, interest rate decisions, and other important announcements.
  • Market Sentiment Tool: A tool that allows traders to gauge market sentiment by analyzing the number of long and short positions held by other traders.
  • ForexVPS: A virtual private server that allows traders to run their trading strategies 24/7 without the need for a personal computer.
  • Trading Central: A research platform that provides traders with market analysis, trading ideas, and technical analysis tools to help them make informed trading decisions.
  • Traders Terminology: Type the keyword or term that you are looking for or select the letters to see the list of words.
  • Max-Calculator : The Max-Calculator is one of the best ways to help traders quickly evaluate the possible outcome of potential transactions or actions. In addition, this calculator will also help you calculate the margin easily.
Educational Contents Available
HUBx
label
Trading Calendar
label
Market Sentiment Tool
label
ForexVPS
label
Trading Central
label
Traders Terminology
label
Max-Calculator
label

Deposits & Withdrawals

TMGM minimum deposit vs other brokers

TMGMMost other
Minimum Deposit$100$100

The minimum deposit and withdrawal amount is both $100. Depositing doesn't cost anything, but the time it takes and the currency options depend on your chosen payment method. Be aware, though, that some deposit methods like Union Pay, FasaPay, Visa, and MasterCard can't be used for withdrawals.

Payment Options Currencies Min.DepositMin.Withdrawal FeesProcessing Time ( Deposit)Processing Time ( Withdrawal)
NZD, USD, AUD, EUR, CAD$100$100$01-3 Working Day1 Working Day
label
USDInstant
label
NZDNot mentioned1 Working DayNot mentioned
label
USD$100Instant1 Working Day
label
USD, EUR, GBP, AUD, NZD, CAD1 Working Day
label
label
CNYNot mentionedInstantNot mentioned
label
$1001 Working Day
label
USDNot mentionedNot mentioned
label
USD, EUR, GBP, AUD, NZD, CAD3 Working Days
label
MYR, THB, IDR, VND$100Instant
label
USD, EUR, GBP, AUD, NZD, CADNot mentioned
label

Other Fees

TMGM charges various fees, including spreads and commissions that we have mentioned before, as well as overnight financing fees. The specific fees vary depending on the type of account and trading platform used. TMGM does not charge any deposit or withdrawal fees, but clients may incur fees from their payment providers.

Additionally, TMGM charges an inactivity fee of $10 per month if there is no activity in the trading account for a period of six months or more. This fee will be deducted from the available balance of the account. However, if the available balance is less than $10, no inactivity fee will be charged. It is important to note that the inactivity fee is a common practice in the industry and is designed to encourage active trading and to offset the costs of maintaining inactive accounts.

See the fee comparison table below:

BrokerDeposit FeeWithdrawal FeeInactivity Fee
TMGMFreeFree$10/month after 6 months of inactivity
PepperstoneFree for Australian Bank Transfer, $20 for International Transfer$0 after 12 months of inactivity
eToro$5$10/month after 12 months of inactivity
IG$1 for AUD, CAD, and USD, £1 for GBP, €1 for EUR$18/month after 24 months of inactivity
Plus500$1.5-$10 depending on withdrawal method$10/month after 3 months of inactivity
XMFree$5/month after 90 days of inactivity

Customer Support

TMGM offers customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).

Contact ChannelsDetails
label
+612 8036 8388
label
support@tmgm.com
label
24/7
label
Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office
label
https://www.facebook.com/TMGMgroup
label
https://twitter.com/TMGMgroup
label
https://www.youtube.com/tmgmgroup
label
https://www.instagram.com/tmgmgroup/
label
https://www.linkedin.com/company/tmgmgroup
label
https://api.whatsapp.com/send/?phone=61452597488&text&app_absent=0

You'll find an extensive and user-friendly FAQ section right on their website, covering a wide range of topics, from account setup to trading strategies, making it an invaluable tool for traders of all levels.

ProsCons
• Multiple languages supported• No dedicated account manager or personal service
• Quick response times to inquiries• Limited availability on weekends and holidays
• Personalized service with tailored solutions

Educational Resources

TMGM's special feature is TMGM Academy, and it's available in addition to the usual customer service. You may get a thorough education in foreign exchange trading by enrolling in the TMGM Academy. There are three levels to choose from Basic, Intermediate, and Expert.

The beginner stage prepares you for your journey into forex trading. The Beginner Stage develops a strong foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.

TMGM Academies Intermediate Stage starts focusing on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. Additionally, TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.

The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.

Conclusion

To sum it up, TMGM stands out as a respected and regulated broker. They offer a diverse set of trading options and platforms, including the sought-after MetaTrader4 and IRESS. Plus, they shine when it comes to customer service and educational materials. Not to mention, their spreads and commissions are pretty darn competitive too. Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.

Frequently Asked Questions (FAQs)

Is TMGM regulated?

Yes. It is regulated by ASIC, and VFSC (offshore).

At TMGM, are there any regional restrictions for traders?

Yes. Products and Services offered on their website are not intended for residents of the United States.

Does TMGM offer demo accounts?

Answer 3: Yes.

Does TMGM offer the industry-standard MT4 & MT5?

Yes. It supports MT4, and MT5 is coming soon.

What is the minimum deposit for TMGM?

The minimum initial deposit at TMGM to open an account is $100.

lirunex
LIRUNEX Basic Information
Registered Country/Region Cyprus
Founded in N/A
Regulation CySEC, BDF, BaFin, LFSA, CNMV
Minimum deposit $500
Tradng Assets Forex, Spot Metals, Indices, Shares, Energy
Leverage Up to 1:500
Account types Standard, Prime and Pro accounts
Trading platform MetaTrader 4
Spreads From 0.4 pips (on EUR/USD)
Commission No commissions charged, only spreads
Demo account Yes
Account Base Currencies USD, EUR, GBP, CHF, JPY, AUD, CAD
Payment methods Global, SEPA, Global Transfer, VISA, Mastercard, ePay.bg, GiroPay, Sofort,Webmoney,and more
Educational Free educational resources include ebooks, webinars, and video tutorials
Customer support Phone, email, live chat, online contact form and extensive FAQ section

General Information & Regulation

LIRUNEX is a retail forex and CFD broker that is registered in Cyprus and regulated by multiple regulatory authorities. The broker offers a variety of trading instruments, including forex, indices, commodities, and cryptocurrencies, with competitive spreads and leverage up to 1:30 for forex trading.

LIRUNEX also offers multiple account types, namely Standard, Prime and Pro accounts and each with different minimum deposit requirements and features to cater to different trading styles and preferences. For example, the Standard account requires a minimum deposit of $500 or equivalent amount.

LIRUNEX's trading platform of choice is MetaTrader 4, which is available for both desktop and mobile devices. LIRUNEX supports various order types, including market orders, limit orders, stop orders, and trailing stop orders. Traders can also execute orders using the One-Click Trading feature on the MetaTrader 4 platform. In addition, LIRUNEX provides various educational resources and trading tools to assist traders in making informed decisions.

LIRUNEX offers customer support via several channels, including phone, email, as well as some social media platforms, and an online contact form. The customer support team is available 24/5 to assist traders with any queries or issues they may have. LIRUNEX's website also features a comprehensive FAQ section, which can be accessed from the “Support” tab on their website, providing answers to frequently asked questions on topics such as account opening, trading conditions, and platform features.

basic-information

Is LIRUNEX legit or a scam?

LIRUNEX has multiple entities that are regulated by various regulatory authorities, including CySEC, BDF, BaFin, LFSA, and CNMV. This means that LIRUNEX operates under strict guidelines and adheres to high levels of regulatory standards and consumer protection policies.

LIRUNEX LIMITED, is authorized and regulated by Federal Financial Supervisory Authority of Germany (BaFin) under regulatory license number 156748;

regulation

Lirunex Ltd, is authorized and regulated by Banque de France (BDF) under regulatory license number 83447;

regulation

Lirunex Ltd, is also authorized and regulated by the Cyprus Securities and Exchange Commission (CYSEC) under regulatory license number 338/17;

regulation

Lirunex Limited is also authorized and regulated by the Labuan Financial Services Authority (LFSA) under regulatory license number MB/20/0050;

regulation

LIRUNEX LTD, is authorized and regulated by the Comisión Nacional del Mercado de valores (CNMA) under regulatory license number 4829;

Pros and Cons

LIRUNEX is a forex broker that offers traders competitive trading conditions, such as low spreads and high leverage. The broker provides free educational resources, including webinars, ebooks, and video tutorials, to help traders improve their trading skills. LIRUNEX also has a range of payment options available for its clients to use.

However, LIRUNEX also has some drawbacks. The broker has a limited asset offering, as it only offers Forex and CFDs. Additionally, the minimum deposit requirements are relatively higher compared to other brokers. LIRUNEX also only provides users with the option to trade via MetaTrader 4, limiting choices for experienced traders who may prefer other trading platforms. The demo account funding is only available to users registered in certain countries, while the broker's services are only available in certain jurisdictions and not to residents of the United States. Social trading features are also not available on the LIRUNEX trading platform.

Pros Cons
Multiple regulated entities Limited asset offering compared to some other brokers
Wide selection of trading instruments Minimum deposit requirements are relatively higher compared to other brokers
A range of educational resources, including webinars, ebooks, and video tutorials Trading is limited to MetaTrader 4
A variety of payment options Demo account funding is only available to users registered in certain countries
Multiple trading accounts to choose from Only available in certain jurisdictions (not available to residents of the United States)
A series of trading tools No social trading features are available
No 7/24 customer support

Market Instruments

LIRUNEX is a well-established online brokerage firm that caters to the needs of traders worldwide. It offers a comprehensive selection of market instruments to its clients, including Forex, Spot Metals, Indices, Shares, and Energy.

  • Forex: LIRUNEX offers a wide range of currency pairs for trading, including major currency pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs.

  • Spot Metals: LIRUNEX offers spot trading of precious metals such as gold and silver. Spot trading allows traders to buy and sell these metals at the current market price.

  • Indices: LIRUNEX offers trading on a variety of global stock indices, including the S&P 500 index, NASDAQ index, and the Dow Jones Index. Trading indices allows traders to speculate on the performance of a whole stock market, rather than just individual stocks.

  • Shares: LIRUNEX offers trading of stocks from various global markets, including the US, UK, Europe, and Asia. Trading on stocks allows traders to invest in well-known companies and earn profits based on their performance.

  • Energy: LIRUNEX offers trading of energy products such as crude oil and natural gas. Traders can benefit from price changes in energy markets, which are known for their high volatility.

major.png
indices.png
shares.png

trading-instrumemnts.png

Account Types

LIRUNEX offers a range of account types to suit the needs of different traders. They have carefully crafted their account types to offer a tailored experience to traders based on their trading level, experience, and financial status. The account types offered by LIRUNEX are Standard, Prime, and Pro.

The Standard account requires a minimum deposit of $/€ 500 and is suitable for novice traders who are new to the market. This type of account offers basic trading conditions, including access to all trading instruments, customer support, educational resources, and trading tools.

The Prime account requires a higher minimum deposit of $/€ 2,000 and is targeted towards traders who have more experience in the market. This account type offers tighter spreads, lower commissions, and additional perks such as exclusive trading signals and faster withdrawals.

The Pro account is the top-tier account type offered by LIRUNEX and requires a minimum deposit of $/€ 10,000. This type of account is geared towards professional traders who require a higher level of trading conditions, including dedicated account managers, advanced trading tools, priority customer support, and lower commissions and favorable market conditions.

All account types offered by LIRUNEX come with negative balance protection, and the MetaTrader 4 trading platform. Additionally, traders can choose from different currency options, EUR or USD.

account-type.png
account-type2.png

How to open an account?

Opening an account with LIRUNEX is a straightforward process and can be completed in a few simple steps. Here is a step-by-step guide on how to open an account with LIRUNEX:

  1. Visit the LIRUNEX website and click on the “Register” button on the top right-hand corner.

  2. Fill in the registration form by providing accurate personal details, including your name, email address, and phone number.

  3. Select your preferred account type - Standard, Prime, or Pro - and choose your base currency.

  4. After filling in the form, you will receive an email to confirm your registration.

  5. Next, login to your LIRUNEX account and complete your account verification by uploading the necessary documents. The documents required for verification can be found on the website or by contacting customer support.

  6. Once your account is verified, you can fund your account by choosing a payment method that is convenient for you. LIRUNEX provides several payment options, including bank transfers, credit/debit cards, and e-wallets.

  7. After funding your account, you can begin trading by downloading the LIRUNEX trading platform or by using the web-based platform.

  8. LIRUNEX provides customers with 24/5 customer support to assist with any issues that may arise during the trading process.

Leverage

As per the regulations by ESMA, the default leverage for retail forex traders is set at a maximum of 1:30, while professional traders are allowed to trade with a higher leverage of up to 1:100.

Leverage refers to the amount of borrowing that a trader can use to open a position in the market. Higher leverage can increase potential profits, but it also comes with higher risk. Professional traders are considered to have a higher level of experience and knowledge of the financial markets, which is why they are often offered higher leverage options.

However, it's important to note that leverage should be used wisely, and traders should always consider the risks involved before trading with high leverage. It's also essential to have a risk management strategy in place to protect your investment in case of unfavourable market conditions.

leverage.png

leverage2.png

leverage 3.png

Spreads & Commissions

LIRUNEX offers a variety of trading account types to suit the needs of different traders. Each account type features different spreads and commission charges. Here, we will explain the available accounts and what they offer in terms of spreads and commissions.

The Standard Account is designed for those who are new to trading or who prefer lower costs. With this account, you can trade with floating spreads that start from 2 pips. The best part is that there are no commissions charged on trades. This account is ideal for beginners who want to start trading with a lower investment.

The Prime Account is designed for those who require tighter spreads and faster trade execution times. With this account, you can trade with floating spreads that start from 0.6 pips, which is significantly lower than the Standard Account. However, this account comes with a commission charge of $8 per lot traded. This account is suitable for traders who require faster trading speeds and lower spreads.

The Pro Account is designed for professional traders who require the tightest spreads possible and access to institutional-grade trading conditions. With this account, you can trade with spreads that start from 0.0 pips, which means that you can trade with almost no spreads! It is important to note that this account comes with a commission charge of $4 per lot traded. This account is ideal for high volume traders who require high-quality trading conditions.

spreads1.png
spreads2.png
spreads3.png

Non-Trading Fees

Apart from trading fees, LIRUNEX also charges some non-trading fees that traders should be aware of. Here are some of the non-trading fees charged by LIRUNEX:

  • Deposit Fees - While deposits with LIRUNEX are free of charge, some payment providers may charge you fees for depositing funds. It's important to check with your payment provider to see if they charge any fees.

  • Withdrawal Fees - LIRUNEX does not charge any withdrawal fees. However, the payment provider you use to withdraw funds may charge fees. LIRUNEX also waives the first withdrawal fee for its clients each month.

  • Inactivity Fees - If there has been no trading activity in your account for a period of 90 days, an inactivity fee of $50 will be charged for each subsequent month until the account is active again.

  • Conversion Fees - If you deposit funds in a currency different from the one in which your LIRUNEX account is denominated, you will be charged a conversion fee of 2% of the deposit amount. This fee is charged to cover the costs of converting the funds to your account currency.

  • Overnight Financing Fees - LIRUNEX charges overnight financing fees for positions that are held open overnight. These fees can be either positive or negative and depend on the instrument being traded.

Trading Platform

LIRUNEX provides MetaTrader 4 (MT4) trading platform for its clients. The MT4 platform is available in PC, iOS, and Android versions that allow traders to access their accounts and trade from anywhere, at any time.

MT4 is a well-known and widely-used trading platform globally, known for its user-friendly interface, advanced charting features, multiple order types, and the ability to support automated trading strategies like Expert Advisors (EAs). The platform also offers a vast array of technical analysis tools that traders can use to make informed decisions.

LIRUNEX provides a range of trading instruments through its MT4 platform, including forex, commodities, and indices. The platform also supports multiple account types, allowing traders to choose the one that suits their needs best.

trading-platform.png

Deposit & Withdrawal

LIRUNEX supports various payment methods for deposits and withdrawals, including Global, SEPA, Global Transfer, VISA, Mastercard, ePay.bg, GiroPay, Sofort, and Webmoney. Deposits through most payment methods have a minimum deposit requirement of 50. However, the minimum deposit through global transfer is $300.

It is important to note that the processing time for withdrawals can vary depending on the payment method used. Withdrawal requests made through Visa and Mastercard can take up to 10 business days to process. This is due to the nature of these payment methods, which typically involve additional security checks and verification procedures to ensure that the funds are being transferred to the correct account.

deposit-withdrawal
deposit-withdrawal

Customer Support

LIRUNEX offers several channels of customer support to assist its traders. This includes:

  1. Email support, which is available 24/7 and allows traders to submit their questions or concerns to LIRUNEX's support team.

  2. Phone support, which is available during business hours and allows traders to speak to a support representative directly.

  3. A comprehensive FAQ section on LIRUNEX's website, which provides answers to common questions and concerns about trading with LIRUNEX.

  4. In addition to these channels of customer support, LIRUNEX also offers a personal account manager service for premium account holders, which provides dedicated assistance and support for their trading needs.

Educational Resources

LIRUNEX offers a range of educational resources to help traders improve their trading skills and knowledge in the Forex markets. Some of these resources include a beginner's guide, an economic calendar, trading strategies, market analysis, and informative articles.

These resources are designed to help traders understand the fundamental and technical analysis of the Forex markets, as well as to give them an overview of the trading tools and features available on the LIRUNEX platform. By using these resources, traders can better navigate the Forex markets, make more informed trading decisions, and ultimately, achieve their trading objectives.

Conclusion

In conclusion, LIRUNEX is a reputable forex broker that offers traders a range of benefits and drawbacks. Its competitive spreads, multiple account types make it an attractive option for traders looking to improve their skills and trading outcomes. However, its limited product offerings, lack of available US trading accounts, and potentially higher withdrawal fees for certain accounts may be disadvantages for some traders. Overall, LIRUNEX provides a secure and regulated trading environment and is worth considering for traders looking for a well-rounded forex broker. As always, traders are advised to conduct thorough due diligence and weigh their options before investing their funds.

FAQs

Q: What regulatory standards does LIRUNEX comply with?

A: LIRUNEX has multiple entities that are regulated by various regulatory authorities, including CySEC, BDF, BaFin, LFSA, and CNMV.

Q: What account types are available at LIRUNEX?

A: LIRUNEX offers three different account types, including Standard, Prime and Pro accounts. Each account type has different features, including minimum deposits, trading conditions, and access to additional tools.

Q: How can I fund my account with LIRUNEX?

A: LIRUNEX offers several different funding options, including Global, SEPA, Global Transfer, VISA, Mastercard, ePay.bg, GiroPay, Sofort,Webmoney,and more.

Q: Does LIRUNEX offer educational resources?

A: Yes, LIRUNEX has a variety of educational resources available for traders of all skill levels, including webinars, video tutorials, eBooks, and more.

Q: How can I get in touch with customer support at LIRUNEX?

A: LIRUNEX customer support is available 24/7 via email, phone, or live chat.

Q: What trading platforms does LIRUNEX offer?

A: LIRUNEX offers two trading platforms, including the popular MetaTrader 4 (MT4) platform and the Lirunex Trader platform. Both platforms can be used on desktop.

Are the transaction costs and expenses of tmgm, lirunex lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive tmgm and lirunex are, we first considered common fees for standard accounts. On tmgm, the average spread for the EUR/USD currency pair is From 0 pips, while on lirunex the spread is from 0.0.

Which broker between tmgm, lirunex is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

tmgm is regulated by ASIC,VFSC. lirunex is regulated by AMF,CYSEC,LFSA,CNMV.

Which broker between tmgm, lirunex provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48. lirunex provides trading platform including LX-Pro,LX-Prime,LX Standard and trading variety including --.

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