From Lunarpages Web Hosting Wiki
Can I run cron jobs and are there any limitations?
There aren't really too many limitations, however, it is highly recommended that you take care when running the crons and the frequency at which they are set to. Running a cron that executes a script that backs up data every 5 minutes could be very load intensive, and would likely result in stability issues on the server, and could result in the account being suspended. It would be best to run crons at minimum 30 minute intervals, depending on their intensity.
Otherwise, it should be fine. wget, and lynx are disabled in cron execution, however PHP and curl can be used.
Check here for the special path to use, when using PHP and curl: