Liyan Broker Review

Our review of Liyan Broker began with the same discipline we apply to every broker we examine: we checked the public regulatory registers, we read the available user reviews, and we weighed the complaint record against the broker's own marketing claims. Liyan Broker is a young firm, founded in April 2024 and registered in Saint Lucia, and it operates with no verified licence on file. That alone raises a red flag, but we wanted to see what the real user experience told us before reaching a verdict.

We cross-checked the company details provided by the broker against the registration information we could verify. The firm lists its full legal name as Liyan Trading LTD and gives a Dubai address, yet its registration is in Saint Lucia. We found no evidence of any financial regulator overseeing its activities. We also reviewed the user-generated content available on public platforms, including a handful of reviews that describe both positive and negative experiences. Our analysis of that record, combined with the absence of regulatory oversight, informs the FXCanary Scam Risk Score of 75/100, which we classify as 'Severe'.

Liyan Broker presents itself as a forex-focused firm offering trading services through cTrader and MetaTrader 5. According to the company description, it was founded in 2020, although our records indicate a founding date of 17 April 2024. That discrepancy is worth noting because a broker that claims to have been operating for several years but only recently appeared on our radar may be trying to create a false sense of history. The firm is registered in Saint Lucia, a jurisdiction known for its light-touch regulation of financial services, and its registered address is in Dubai, United Arab Emirates.

The address we have on file is 'Office 54, Podium floor, Al Gurg Tower 3 office tower, Right Al Buteen, Dubai, United Arab Emirates.' This is a physical location, but we could not verify that the company actually operates from these premises. The firm reports zero employees, which is unusual for a broker that claims to offer customer support and trading services. A zero-employee count may indicate a very small operation, possibly a one-person or family-run business, or it may suggest that the company is a shell entity. Either way, it does not inspire confidence in the firm's ability to handle client funds responsibly.

In our assessment, the combination of a Saint Lucia registration, a Dubai address, and no verifiable employee base points to a broker that is operating on the fringes of the industry. While being registered in Saint Lucia is not illegal, it means the firm is not subject to the same oversight as brokers regulated in major financial centres like the UK, the US, or the EU. For a trader, this means there is no independent authority to turn to if something goes wrong.

The most critical issue with Liyan Broker is its complete lack of regulatory oversight. Our review found no verified licence on file, and the broker's own disclosures do not mention any regulatory body. This is a fundamental red flag. In the forex industry, regulation is the primary safeguard for retail traders. It ensures that brokers adhere to strict standards of conduct, maintain segregated client accounts, and participate in compensation schemes that protect deposits if the broker fails.

We checked the public registers of major financial regulators, including the UK's Financial Conduct Authority (FCA), the US Commodity Futures Trading Commission (CFTC), and the Cyprus Securities and Exchange Commission (CySEC). None of these authorities list Liyan Broker as a licensed entity. We also looked at offshore regulators, such as the Financial Services Authority of Saint Lucia, but found no evidence that the firm holds a licence there either. The absence of any regulatory approval means that if a client has a dispute with Liyan Broker, they have no recourse to an ombudsman or compensation fund.

For traders, the lack of regulation means that their funds are not protected in the event of broker insolvency or malpractice. Even in the best-case scenario, where the broker is honest and operates fairly, there is no guarantee that client money is segregated from the firm's own operating funds. In the worst-case scenario, a trader could lose their entire deposit with no legal avenue to recover it. We cannot stress enough how important this is: never trade with an unregulated broker if you are not prepared to lose everything.

Liyan Broker offers four account types: Standard, Islamic, Advance, and VIP. The Standard and Islamic accounts both require a minimum deposit of $20, which is very low and makes the broker accessible to beginners or those who want to test the waters with a small amount of capital. Both accounts offer a maximum leverage of 1:1000, which is extremely high and can amplify both profits and losses. The minimum spread on these accounts is 2.5 pips, which is on the higher side compared to many regulated brokers, and there is no commission charged.

The Advance account requires a minimum deposit of $1,000 and offers leverage up to 1:500. The minimum spread is 1.5 pips, and a commission of $3.5 to $4.5 per lot is charged. This account appears designed for more active traders who are willing to pay a commission in exchange for tighter spreads.

The VIP account is the most exclusive, with a minimum deposit of $10,000 and leverage capped at 1:200. The commission ranges from $5 to $6.5 per lot, and the spread is not disclosed. This tier seems aimed at high-net-worth individuals who want lower leverage and potentially better execution.

In our interpretation, the account structure is typical of an offshore broker that wants to attract a wide range of clients, from small retail traders to larger investors. The high leverage on the lower-tier accounts is a concern because it can lead to rapid losses, especially for inexperienced traders. The lack of spread disclosure on the VIP account is also a red flag, as it suggests the broker may not be transparent about its pricing. We would advise any trader to carefully consider the risks of high leverage and to ensure they fully understand the cost structure before depositing funds.

Liyan Broker does not disclose its deposit or withdrawal methods on its website, which is a significant transparency issue. We could not verify which payment options are available, whether they include credit/debit cards, bank transfers, e-wallets, or cryptocurrencies. The only reference we found in user reviews is to Perfect Money, which is an e-wallet commonly used in the offshore forex industry. One positive review mentions that withdrawals through Perfect Money are fast, but this is a single data point and should not be taken as a guarantee.

The negative review we analysed tells a more troubling story. A trader named Mohsen Shahvaladi reports that he deposited $1,400, made around $819 in profit, and successfully withdrew $800. However, the review cuts off at that point, leaving the outcome unclear. The fact that the review is rated one star suggests that something went wrong after the initial withdrawal. We can infer that the trader may have encountered difficulties with a subsequent withdrawal, possibly the remaining balance or additional profits, but we cannot confirm the details.

In our assessment, the lack of clear information about funding methods is a major concern. A legitimate broker should clearly state how clients can deposit and withdraw funds, including any fees and processing times. The fact that Liyan Broker does not provide this information suggests that they may be trying to obscure the process, which could lead to problems when traders try to access their money. We would advise any potential client to ask the broker directly about withdrawal procedures before depositing, and to be extremely cautious if they do not receive a clear answer.

Liyan Broker offers trading on cTrader and MetaTrader 5 (MT5), both of which are well-known and respected platforms in the industry. cTrader is particularly popular among traders who value advanced charting tools and fast execution, while MT5 is a versatile platform that supports a wide range of asset classes. The fact that the broker offers these platforms is a positive sign, as it suggests they are using reputable software rather than a custom-built platform that could be manipulated.

However, the broker does not disclose the full range of tradable instruments. The company description mentions that it specializes in forex trading, but it does not specify which currency pairs are available, nor does it mention whether other asset classes such as commodities, indices, or cryptocurrencies are offered. This lack of transparency makes it difficult for traders to assess whether the broker can meet their trading needs.

In our review, we found one positive user review that praises the cTrader platform, noting that it executes orders quickly. This is encouraging, but it is only one review and does not provide a comprehensive picture of the platform's performance. We would recommend that traders test the platform using the demo account that Liyan Broker offers, as this will allow them to evaluate the execution speed, spreads, and overall usability without risking real money.

The fee structure at Liyan Broker varies depending on the account type. The Standard and Islamic accounts have no commission but charge a minimum spread of 2.5 pips. This is relatively high compared to many regulated brokers, which often offer spreads of less than 1 pip on major currency pairs. The Advance account has a lower spread of 1.5 pips but charges a commission of $3.5 to $4.5 per lot. The VIP account has the highest commission, ranging from $5 to $6.5 per lot, but the spread is not disclosed.

In our analysis, the overall cost of trading with Liyan Broker is likely to be higher than with a regulated broker, especially for smaller traders who use the Standard account. The high spreads mean that traders need the market to move significantly in their favour just to break even. The commission on the higher-tier accounts adds another layer of cost, which could eat into profits, especially for high-frequency traders.

We also note that the broker does not disclose any other fees, such as deposit or withdrawal fees, inactivity fees, or swap rates. This lack of transparency makes it difficult for traders to calculate the true cost of trading. We would advise traders to request a full fee schedule from the broker before opening an account, and to compare it with the fee structures of regulated brokers to ensure they are getting a fair deal.

The user review record for Liyan Broker is extremely thin, with only a handful of reviews available on public platforms. We found one positive review that gives the broker five stars, praising the cTrader platform for its fast execution and noting that withdrawals through Perfect Money are also fast. This review suggests that at least one trader has had a positive experience with the broker, but it is important to remember that this is just one person's experience.

The negative review we analysed is more concerning. The trader, Mohsen Shahvaladi, describes depositing $1,400 and making a profit of $819, and then successfully withdrawing $800. However, the review is cut off, and the one-star rating implies that the trader encountered a serious problem after that point. We cannot know for sure what happened, but the fact that the review is negative suggests that the broker may have failed to honour a withdrawal request or that the trader faced other difficulties.

In our assessment, the balance of the user record is not favourable. While there is one positive review, the negative review raises serious questions about the broker's reliability. The fact that there are so few reviews is also a concern, as it suggests that the broker may not have a significant client base, or that it is too new to have generated a substantial track record. We would advise traders to be extremely cautious when considering this broker, and to look for more established and regulated alternatives.

When we compare our independent analysis with aggregated industry data, the picture is consistent. Liyan Broker has no verified regulatory licences, and the user review scores on major platforms are either non-existent or very low. The Trustpilot score is listed as 'None/5' with zero reviews, and the Forex Peace Army score is also 'None/5'. This means that the broker has not built up a credible reputation in the industry, and there is no independent data to suggest that it is trustworthy.

Our own Scam Risk Score of 75/100 is based on the absence of regulation, the lack of transparency, and the negative user review. This score is in line with what we would expect for a broker that operates without oversight and has a history of complaints. The fact that there are no clone or impersonator sites found is a small positive, as it suggests that the broker is not actively trying to deceive traders by mimicking a legitimate firm. However, this does little to offset the overall risk.

In our view, the aggregated industry scores and our own analysis point to the same conclusion: Liyan Broker is a high-risk broker that should be avoided by all but the most experienced traders who are fully aware of the risks and are willing to accept the possibility of losing their entire deposit.

In conclusion, our review of Liyan Broker has found significant red flags that make it a dangerous choice for most retail traders. The broker is unregulated, has no verifiable track record, and has a user review that raises concerns about withdrawal reliability. The FXCanary Scam Risk Score of 75/100 reflects the severity of these issues, and we cannot recommend this broker to anyone.

If you are considering trading with Liyan Broker, we strongly advise you to exercise extreme caution. First, verify the broker's regulatory status with the relevant authorities in your jurisdiction. If you cannot find any evidence of regulation, do not deposit any money. Second, test the broker's services using a demo account to see if the platform and execution meet your expectations. Third, if you do decide to deposit, start with a small amount that you can afford to lose, and be prepared for the possibility that you may not be able to withdraw your funds.

We also recommend that you look for alternative brokers that are regulated by reputable authorities such as the FCA, CySEC, or ASIC. These brokers offer client fund protection, transparent fee structures, and a clear process for resolving disputes. While no broker is completely risk-free, trading with a regulated broker significantly reduces the chances of falling victim to a scam. In the case of Liyan Broker, the risks far outweigh any potential benefits, and we advise traders to stay away.