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.

Lirunex Expands into Asia but Faces Challenges

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.

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.