Lirunex Faces Regulatory Warning in Malaysia

Just a few
months after Lirunex announced its expansion into the Asian region, one of the
local regulators added the FX/CFD broker to its warning list. The Securities
Commission Malaysia (SCM) reported this week that Lirunex is offering local
traders unauthorized access to investment products.

Finance
Magnates reported in August that Lirunex continues its expansion. After opening
up to the African market in 2021, the company decided to focus more on the
Asian market in 2023. The broker’s local offices are located in Hong Kong and
Malaysia.

The Kuala
Lumpur office was launched in 2022 and serves as a trading hub . Its role is to
employ market experts who conduct training for local retail investors through
online and offline events.

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.

According
to information provided by the Malaysian regulator, in addition to Lirunex, two other
entities, Sahabat Investing F9 and CCF Trade, have also been added to the
warning list. Both offer services in the area of retail FX and CFD trading.

@LirunexLimited #FX #CFD broker on Securities Commission #Malaysia #warning #list. Few months after it announced its expansion into the #Asian markets pic.twitter.com/bwSp5Y8iJb

— Damian Chmiel (@ChmielDk) October 26, 2023

The Malaysian Regulatory Commission remains active in the markets and regularly updates its warning list. Some time ago, it added as many as 25 entities to it, including popular brands such as AETOS and Windsor Brokers. In the meantime, it has revised its guidelines to allow stockbroking companies to offer fractional share trading on Bursa Malaysia.

Just a few
months after Lirunex announced its expansion into the Asian region, one of the
local regulators added the FX/CFD broker to its warning list. The Securities
Commission Malaysia (SCM) reported this week that Lirunex is offering local
traders unauthorized access to investment products.

Finance
Magnates reported in August that Lirunex continues its expansion. After opening
up to the African market in 2021, the company decided to focus more on the
Asian market in 2023. The broker’s local offices are located in Hong Kong and
Malaysia.

The Kuala
Lumpur office was launched in 2022 and serves as a trading hub . Its role is to
employ market experts who conduct training for local retail investors through
online and offline events.

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.

According
to information provided by the Malaysian regulator, in addition to Lirunex, two other
entities, Sahabat Investing F9 and CCF Trade, have also been added to the
warning list. Both offer services in the area of retail FX and CFD trading.

@LirunexLimited #FX #CFD broker on Securities Commission #Malaysia #warning #list. Few months after it announced its expansion into the #Asian markets pic.twitter.com/bwSp5Y8iJb

— Damian Chmiel (@ChmielDk) October 26, 2023

The Malaysian Regulatory Commission remains active in the markets and regularly updates its warning list. Some time ago, it added as many as 25 entities to it, including popular brands such as AETOS and Windsor Brokers. In the meantime, it has revised its guidelines to allow stockbroking companies to offer fractional share trading on Bursa Malaysia.