Is Liyan Broker a Scam?

At FXCanary, we treat broker safety as a matter of evidence, not reputation. Our assessment begins with the regulatory record: we cross-check the broker's claimed licences against the official public registers of the relevant financial authorities. We then weigh the strength of those licences, the protections they afford to clients, and the broker's operational history. Finally, we analyse the real-world experience of traders, as reflected in user reviews and complaints, to see whether the broker's promises match its practice.

For Liyan Broker, this process leads to a clear and concerning conclusion. The broker has no verified licence on file, and our review of the regulatory landscape found no oversight from any major financial authority. This absence of regulation is the single most important factor in our FXCanary Scam Risk Score of 75/100, which we classify as 'Severe'. It means that traders who deposit funds with Liyan Broker are doing so without the safety net that a regulated broker provides.

Liyan Broker is registered in Saint Lucia, a jurisdiction that is not known for robust financial regulation. Our checks found no active licence from any financial regulator, and the company's own description acknowledges that it is an 'unregulated financial firm'. This is a fundamental red flag. Regulated brokers are required to segregate client funds, participate in compensation schemes, and adhere to strict conduct rules. Unregulated brokers are subject to none of these obligations.

For a trader, the practical implications are stark. If Liyan Broker were to fail or abscond with client funds, there would be no compensation scheme to turn to. There is no financial ombudsman to mediate disputes, and no regulatory body to investigate complaints. The absence of a licence also means that the broker is not required to meet minimum capital requirements or to undergo regular audits. In our assessment, this creates a high-risk environment for any client funds deposited with the firm.

In a regulated environment, client funds are typically held in segregated accounts, separate from the broker's own operating capital. This ensures that, in the event of insolvency, client money can be returned. Additionally, many regulated jurisdictions offer compensation schemes, such as the Financial Services Compensation Scheme in the UK or the Investor Compensation Fund in Cyprus, which protect deposits up to a certain limit. Negative balance protection is another common safeguard, ensuring that traders cannot lose more than their account balance.

None of these protections apply to Liyan Broker. Without a licence, there is no requirement for segregation, no compensation scheme, and no negative balance protection. The broker's high leverage offerings, up to 1:1000 on its Standard and Islamic accounts, amplify the risk. While high leverage can magnify profits, it also magnifies losses, and without negative balance protection, a trader could end up owing more than they deposited. This combination of high leverage and no regulatory oversight is particularly dangerous for retail traders.

Our analysis of user reviews for Liyan Broker reveals a mixed but troubling picture. On the positive side, one trader praised the broker's cTrader platform and noted that withdrawals through Perfect Money were fast. This suggests that some clients have had smooth experiences.

However, a more detailed negative review tells a different story. A trader named Mohsen Shahvaladi reported depositing $1,400, making around $819 in profit, and successfully withdrawing $800. The review is cut off at 'However', but the implication is that a subsequent withdrawal was problematic.

We counted four withdrawal-related complaints in the data we reviewed, which is a significant number for a broker with a relatively short operating history. While one positive review indicates that some withdrawals do go through, the existence of multiple complaints suggests that withdrawal reliability is not consistent. In our experience, a pattern of withdrawal issues is one of the most common warning signs of a problematic broker. Even if some traders are paid, the risk that others are not is a serious concern.

The red flags for Liyan Broker are numerous and serious. The lack of any regulatory licence is the most obvious, but there are others. The company was founded in 2024, making it a very new entrant to the market, and it has zero employees on record.

This raises questions about the operational capacity of the firm. The registered address in Dubai, while a legitimate business hub, is not a substitute for regulatory oversight. The high leverage offered, up to 1:1000, is another red flag, as it is often used by unregulated brokers to attract inexperienced traders.

There are, however, a few green flags. The positive review of the cTrader platform suggests that the broker is using a reputable trading platform, which is a good sign. The fact that at least one trader successfully withdrew funds, and that the broker offers a demo account, indicates that it is not an outright scam in every instance. However, these positives are far outweighed by the risks. In our assessment, the green flags are insufficient to mitigate the severe risks posed by the lack of regulation and the withdrawal complaints.

We also checked for clone or impersonator sites associated with Liyan Broker, and found none. This is a small positive, as it means that the broker is not actively trying to deceive traders by mimicking a legitimate firm. However, it does not change the overall risk picture. The absence of clones does not make the broker itself safe; it simply means that the primary risk is the broker's own lack of regulation.

That said, traders should remain vigilant. Unregulated brokers can rebrand or disappear at any time, and the lack of a regulatory footprint makes it easier for them to operate under different names. We recommend that any trader considering Liyan Broker verify the firm's details independently and be aware that the lack of a licence means there is no official body to turn to if things go wrong.

If you are still considering trading with Liyan Broker despite the severe risk score, we strongly advise you to take extra precautions. First, never deposit more than you can afford to lose. The lack of regulation means that your funds are not protected, and there is a real risk of losing your entire deposit. Second, start with the minimum deposit of $20 on the Standard account, and test the withdrawal process with a small amount before committing more. Third, keep detailed records of all your transactions, including deposit and withdrawal requests, as this may be useful if you need to pursue a dispute.

We also recommend using a separate funding method, such as a prepaid card or a payment system that offers buyer protection, rather than a direct bank transfer. Finally, be aware that the broker's high leverage offerings can lead to rapid losses. If you do trade, consider using much lower leverage than the maximum offered, and set strict stop-loss orders to limit your risk. In our view, the safest course of action is to avoid this broker altogether and choose a fully regulated alternative.

In conclusion, FXCanary's assessment of Liyan Broker is that it poses a severe risk to traders. The complete absence of regulatory oversight, combined with a short operating history, zero employees on record, and a pattern of withdrawal complaints, makes this a high-risk broker. While there are some positive signs, such as the use of cTrader and at least one successful withdrawal, these are not enough to offset the fundamental lack of safety.

We give Liyan Broker a Scam Risk Score of 75/100, which falls into the 'Severe' category. This score reflects the high likelihood that traders may encounter problems, particularly with withdrawals, and the lack of any recourse in the event of a dispute. We strongly advise traders to exercise extreme caution and to consider regulated alternatives that offer client fund protection and regulatory oversight. Your capital is at risk, and with Liyan Broker, that risk is not mitigated by any safety net.