LonghornFx Review : Is Good Forex Broker Or Not ? 2023 Pro Or Cons Latest Updated

Hello Wootfi.com Visitors Today We Covered LonghornFx Review. Please Read Our All review to know more about LonghornFx Broker .

About LonghornFx

LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. The services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.

They know that every second counts in trading, which is why, as a true ECN broker, they provide clients with fast and direct access to the world’s most liquid market using Straight Through Processing (STP). The cold storage system also gives clients peace of mind so that they can focus on trading knowing their funds are fully protected in a safe and secure offline vault.

LonghornFX gives you rapid access to your funds with same-day withdrawals and institutional grade liquidity from global institutions providing unbeatable rates and spreads. Plus, you can trade from anywhere using your Trading or Demo accounts, with MT4 platforms available on PC, iOS & Android.

LonghornFX at a glance

How To Create Account AT LonghornFX

To create an account at LonghornFX, please follow the below steps:

1. Go to the LonghornFX website at https://www.longhornfx.com/ and click on the “Sign Up” button located on the top right corner of the website.
2. You will be redirected to the registration page. Here you will need to enter your personal information such as your full name, email address, and phone number.
3. Create a password that is unique and secure.
4. Choose the account type you want to create. LonghornFX offers three different account types: demo account, live account, and Islamic account. Select the account type that suits your trading preferences.
5. Read and accept the terms and conditions and privacy policy of LonghornFX.
6. Once you have filled in all the required fields, click on the “Create Account” button.
7. You will receive a verification email to confirm your email address. Follow the instructions in the email to verify your account.
8. Once your account has been verified, you can log in to your account and start trading.

Note: Before you start trading, it is recommended that you familiarize yourself with the trading platform and the various tools and features available to you. You can also practice trading using the demo account to gain experience and test your trading strategies.

Fees & Charges

LonghornFX charges a commission fee per lot traded, as well as a spread on each asset. The standard commission rate is £6 per lot. Micro lots (e.g. a 0.5 lot) incur lower commissions proportional to the lot size (e.g. £3 for a 0.5 lot traded).

The broker also charges floating spreads, which means they change with liquidity, market volume and volatility. Typical spreads are 1.4 pips for GBP/USD, 0.9 pips for Brent oil and 7.7 pips for the FTSE 100.

There are also swap charges (or administration costs on the Islamic account) to keep an eye out for, though the fee structure is not openly provided.

While deposit and withdrawal fees are not charged, Bitcoin transactions are subject to the blockchain network and miner fees (a flat 0.0005 BTC).

Leverage & Margin Rates

LonghornFX offers different maximum leverage levels for each asset class, ranging from a maximum of 1:20 on stocks to a maximum of 1:500 on forex pairs. Margin rates also differ per asset class. The Leverage and margin rates are given below:

• Indices: 1:200 leverage – 0.5% margin
• Energy: 1:200 leverage – 0.5% margin
• Metals: 1:500 leverage – 0.2% margin
• Forex: 1:500 leverage – 0.2% margin
• Crypto: 1:100 leverage – 1% margin
• Stocks: 1:20 leverage – 5% margin

Deposits

To fund your LonghornFX account, you must deposit using a debit/credit card or Bitcoin via Instacoins.

The third-party financial service provider, Instacoins, allows you to purchase Bitcoin and then deposit it into your LonghornFX account. This can take up to 6 hours and incurs the 0.0005 BTC network fee. The minimum deposit into your Longhornfx account is £50.

Visa and Mastercard payment cards are supported by the firm in GBP, EUR, USD or BIT. Minimum credit and debit card deposits are £10.

Withdrawal

The only method supported for withdrawals is Bitcoin. You can retrieve your account capital via Bitcoin into a personal crypto hot or cold wallet. There are no withdrawal fees, except the 0.0005 BTC Bitcoin Network gas charge. The minimum withdrawal limit is $10.

Trading Platforms

While using LonghornFX, we found it to offer the MetaTrader 4 platform as its only trading platform. This is a powerful, widely-used system that gives experienced traders the freedom to implement their strategies with ease. MT4 is an advanced platform that offers versatile tools and an intuitive interface.

Regulation

LonghornFX is not regulated by any major government body, with the company being registered offshore in Saint Vincent and the Grenadines. This means users should be careful when depositing funds with the broker, as there is no relevant body you can appeal to if you need to make a complaint.

High Grade Features Which Offer By LonghornFX

Wide Range of Tradable Assets:

LonghornFX offers a wide range of tradable assets including forex, commodities, cryptocurrencies, and indices, allowing traders to diversify their portfolio.

Leverage

LonghornFX offers leverage of up to 500:1, which allows traders to increase their potential profits. However, it is important to remember that high leverage can also result in higher losses, so it should be used with caution.

Low Spreads

LonghornFX offers tight spreads, which means traders can enter and exit trades at a lower cost.

Trading Platforms

LonghornFX offers multiple trading platforms, including the popular MetaTrader 4 platform and its own proprietary WebTrader platform. These platforms are user-friendly and offer advanced charting tools, analysis, and trading features.

Fast Execution

LonghornFX offers fast trade execution, with orders processed within milliseconds.

Security

LonghornFX prioritizes the security of its clients’ funds and personal information. The broker uses top-notch security measures to ensure that all client data is kept safe and secure.

Customer Service

LonghornFX offers 24/7 support services through its online live chat and email support channels. You can also request a call from a support agent at a specified time through the website.

• Email Address: [email protected]

Pros & Cons Of LonghornFX

Pros:

1. Multiple trading instruments: LonghornFX offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies, providing traders with a diverse range of opportunities.
2. Access to MetaTrader 4: The broker provides access to the popular MetaTrader 4 trading platform, which is known for its advanced charting capabilities and trading tools.
3. Range of trading tools: LonghornFX offers a range of trading tools to help traders make informed trading decisions, including economic calendars, market analysis, and trading signals.
4. Educational resources: The broker provides educational resources for traders of all levels, including webinars, videos, and trading guides.
5. Demo account: LonghornFX offers a demo account for traders to practice their trading strategies without risking real money.
6. Multiple deposit methods: The broker accepts deposits in multiple currencies and provides a range of deposit methods, including credit card, bank wire transfer, and Bitcoin.

Cons:

1. Unregulated broker: LonghornFX is an unregulated broker, which may be a concern for some traders who prefer to trade with a regulated broker.
2. Limited payment options: While LonghornFX offers multiple deposit methods, it has limited options for withdrawal, with only bank wire transfer and Bitcoin available.
3. No phone support: LonghornFX only offers support via email and live chat, which may be a drawback for some traders who prefer phone support.
4. Limited research and analysis: While LonghornFX offers some trading tools and analysis, the research and analysis may not be as extensive as some other brokers.
5. No social trading: The broker does not offer social trading capabilities, which may be a drawback for some traders who prefer to follow and copy the trades of other traders.

LonghornFX Review Conclusion

LonghornFX is a relatively new online forex and CFD broker that offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. The broker provides access to the popular MetaTrader 4 trading platform, as well as a range of trading tools and educational resources for traders of all levels. Additionally, LonghornFX offers a demo account for traders to practice their trading strategies without risking real money, and it accepts deposits in multiple currencies. However, it is important to note that LonghornFX is an unregulated broker, which may be a concern for some traders. As with any broker, it is important to carefully consider the risks and benefits before opening an account and to only trade with funds that you can afford to lose.

LonghornFX FAQ