According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Web Trader MT4
- MT4 Mobile app
- SVGFSA
- 2021
Our Evaluation of LonghornFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
LonghornFX is a moderate-risk broker with the TU Overall Score of 5.42 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by LonghornFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
LonghornFX allows you to start trading with small amounts and significantly increase your trading turnover by connecting leverage. Yet, clients can use different trading strategies and options for passive income.
Brief Look at LonghornFX
LonghornFX is an STP (Straight-Through Processing) and ECN broker (Electronic Communication Network) that provides access to the Forex and CFD markets to traders worldwide. Its clients can trade more than 180 financial instruments with leverage up to 1:500 and tight spreads. They can also earn by copying trades of experienced market participants in MetaTrader 4 (MT4). LonghornFX allows different trading styles, including scalping and hedging.
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- The minimum deposit is $10;
- Unlimited number of accounts for one trader;
- Tight spreads from 0.1 pips;
- Leverage is up to 1:500;
- Trading in any version of MT4 is available;
- Partnership program with favorable conditions;
- Automated trading is allowed.
- No cent accounts;
- The broker is not licensed;
- Deposits and withdrawals are available exclusively in cryptocurrencies.
TU Expert Advice
Financial expert and analyst at Traders Union
LonghornFX strives to provide equally favorable trading conditions for both novice traders and professionals. This broker offers ECN accounts with low floating spreads, high leverage, and a wide range of financial instruments. LonghornFX does not provide bonuses, but its clients can earn additional income from the partnership program. Copy trading and expert advisors (EAs) are allowed.
The minimum deposit is $10. It can be deposited directly from a crypto wallet. Also, money can be credited from a card or bank account, but in that case, the payment is made through Instacoins, a third-party financial service provider that supports the purchase of Bitcoin. The minimum amount for Instacoins is $50. The blockchain network charges 0.0005 BTC for each transaction. Money is credited to the account within 6 hours upon confirmation of the transaction.
Leverage depends on the trading instrument. The maximum value for Forex and metals is 1:500; for CFDs on indices and energies, it is 1:200; for cryptocurrencies, it is 1:100; and for CFDs on stocks, it is 1:20.
- You seek brokers that offer high leverage of up to 1:400. This can potentially amplify profits, but caution is advised as it also magnifies losses.
- You appreciate multiple account types catering to both beginners and experienced traders. The availability of different account options with varying minimum deposit requirements allows flexibility based on your trading experience.
- Regulatory clarity is crucial for you. The broker claims regulation by the International Financial Markets Commission (IFMC), but this entity is not recognized or reputable as a regulatory body.
- You are cautious about negative reviews and warnings. Multiple reports from online reviews and financial watchdogs for this broker highlight issues with withdrawals, unresponsive customer support, and potential scam practices.
LonghornFX Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | МТ4 Android, MT4 iOS, MT4 macOS, MT4 Windows, and MT4 WebTrader |
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📊 Accounts: | Demo and MT4 ECN |
💰 Account currency: | USD, EUR, GBP, and BTC |
💵 Deposit / Withdrawal: | Bitcoin (crypto wallet or via the Instacoins third-party platform) |
🚀 Minimum deposit: | $10 |
⚖️ Leverage: | Up to 1:500 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 EUR/USD spread: | 0,2 pips |
🔧 Instruments: | Forex (Majors, Crosses, and Exotics), cryptocurrencies, stocks, indices, metals, energies, and futures |
💹 Margin Call / Stop Out: | 100%/70% |
🏛 Liquidity provider: | The broker’s own quote providers |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Order execution: | Market execution |
⭐ Trading features: | All accounts are subject to fees per lot |
🎁 Contests and bonuses: | No |
LonghornFX’s clients can use various trading strategies, such as hedging and scalping. Trading 180+ financial instruments is available. The minimum trade size is 0.01 lots, the maximum is 1,000 lots. Available order types are market orders, Fill or Kill (FOK), Good for Seconds (GFS), Good ‘Till Canceled (GTC), Good-Till-Date/Time (GTD), and Immediate or Cancel (IOC).
LonghornFX Key Parameters Evaluation
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Trading Account Opening
Below are brief instructions for registering with LonghornFX and creating a user account on its website:
The form for creating a trading account is available on the main page of the broker’s website. Enter your first and last names, email address, date of birth, and gender. Also, come up with a password and enter it twice in the form.


After submitting the completed form, confirm your email address by clicking the confirmation link in the email. Now you can enter your user account. For authorization, use your email address and a previously generated password.
Services available in the LonghornFX’s user account:




Additional features of LonghornFX’s user account:
Downloading the trading platform or launching WebTrader;
Creating a partner user account;
Downloading the Affiliate Media Pack;
Opening a demo account;
Transferring money between active accounts;
Submitting a request for withdrawal of Bitcoins.
Regulation and safety
LonghornFX has a safety score of 1.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Not tier-1 regulated
- Not regulated
- Track record of less than 8 years
LonghornFX Security Factors
Foundation date | 2021 |
Negative balance protection | Yes |
Verification (KYC) | Yes |
LonghornFX is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker LonghornFX have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of LonghornFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, LonghornFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
LonghornFX Standard spreads
LonghornFX | Pepperstone | OANDA | |
EUR/USD min, pips | 0,3 | 0,5 | 0,1 |
EUR/USD max, pips | 0,8 | 1,5 | 0,5 |
GPB/USD min, pips | 0,5 | 0,4 | 0,1 |
GPB/USD max, pips | 1,0 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
LonghornFX RAW/ECN spreads
LonghornFX | Pepperstone | OANDA | |
Commission ($ per lot) | 3 | 3 | 3,5 |
EUR/USD avg spread | 0,2 | 0,1 | 0,15 |
GBP/USD avg spread | 0,2 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with LonghornFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
LonghornFX Non-Trading Fees
LonghornFX | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 0 | 0 | 0 |
Withdrawal fee, USD | 0 | 0 | 0-15 |
Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
LonghornFX offers only one account type. At the same time, each trader can open any number of live accounts changing the leverage settings and the basic currency. For Muslim clients, swap-free or Islamic accounts are available. They are not subject to swaps, but to an administrative fee.
Account type:
The demo account can be opened in any version of the trading platform. There are no limits on the number of available accounts. LonghornFX offers the same trading conditions to all of its clients, regardless of their experience and the equity amount.
Deposit and withdrawal
LonghornFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
LonghornFX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- No withdrawal fee
- USDT (Tether) supported
- Bank card deposits and withdrawals
- Only major base currencies available
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
What are LonghornFX deposit and withdrawal options?
LonghornFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT.
LonghornFX Deposit and Withdrawal Methods vs Competitors
LonghornFX | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | Yes | No | No |
What are LonghornFX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. LonghornFX supports the following base account currencies:
What are LonghornFX's minimum deposit and withdrawal amounts?
The minimum deposit on LonghornFX is $10, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact LonghornFX’s support team.
Markets and tradable assets
LonghornFX offers a limited selection of trading assets compared to the market average. The platform supports 174 assets in total, including 55 Forex pairs.
- Commodity futures are available
- Crypto trading
- 55 supported currency pairs
- No ETFs
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by LonghornFX with its competitors, making it easier for you to find the perfect fit.
LonghornFX | Plus500 | Pepperstone | |
Currency pairs | 55 | 60 | 90 |
Total tradable assets | 174 | 2800 | 1200 |
Stocks | Yes | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products LonghornFX offers for beginner traders and investors who prefer not to engage in active trading.
LonghornFX | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | No | Yes | Yes |
Copy trading | No | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | No | No | No |
Customer support
LonghornFX’s support is available 24/7.
Advantages
- Live chat is available to all traders without exception
- Quick responses in live chat
Disadvantages
- The answers of operators are not informative
- It is impossible to contact representatives of a certain department
To contact the brokerage company, you can use:
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live chat;
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callback;
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email.
Clients and non-registered users have access to the same communication channels.
Contacts
Foundation date | 2021 |
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Registration address | Longhorn LLC, first floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent and the Grenadines |
Regulation | SVGFSA |
Official site | https://www.longhornfx.com/ |
Contacts |
Education
Information that will help you start trading is available in the Resources section of the LonghornFX official website. Additional instructions for working with MT4 are available in the FAQs section.
The demo is an account that allows you to practice trading assets without depositing money. If the trade is losing, traders do not lose real money.
Comparison of LonghornFX with other Brokers
LonghornFX | Eightcap | XM Group | RoboForex | Pocket Option | Octa | |
Trading platform |
MT4 Mobile app, Web Trader MT4 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | MetaTrader4, MetaTrader5, OctaTrader |
Min deposit | $10 | $100 | $5 | $10 | $5 | $25 |
Leverage |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:40 to 1:1000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | 10.00% | No | No |
Spread | From 0.1 points | From 0 points | From 0.8 points | From 0 points | From 1.2 point | From 0.6 points |
Level of margin call / stop out |
100% / 70% | 80% / 50% | 100% / 50% | 60% / 40% | 30% / 50% | 25% / 15% |
Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | Yes | No | No |
Detailed review of LonghornFX
LonghornFX is an ECN broker that uses STP technology to provide its clients with fast and direct access to the world's most liquid market. LonghornFX's services are based on efficiency, transparency, and innovation, and their quality does not depend on traders’ skill level or financial solvency. Thus, the trading conditions are equal for all clients. Cold wallets are used to store deposits, which ensures protection of traders’ funds from inappropriate use by third parties.
LonghornFX by the numbers:
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183 trading instruments;
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Support works 24/7;
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Spreads are from 0.1 pips;
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5 versions of MT4 are available.
LonghornFX is a brokerage company with a wide range of currencies and CFDs
Trading CFDs on currencies and other assets is available through the broker. Apart from the Majors, there are 21 FX Crosses and 27 exotic pairs. The list of trading instruments also includes 34 cryptocurrency pairs, including those with USD, metals (XAG, XAU, and XPT), plus UKOil and USOil energies. Trading 10 indices, such as Nasdaq-100, SPX500, UK100, and US30, as well as the most popular indices of France, Germany, Japan, Spain, and Australia, is available. Moreover, it is possible to trade 64 global stocks.
LonghornFX does not have its own trading platforms, so it provides the opportunity to trade in MetaTrader 4. It can be installed on a mobile device, PC, laptop, or you can use WebTrader. The MT4 version for macOS is also provided.
Useful services offered by LonghornFX:
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Technical analysis. Every weekday forecasts for various assets, such as Forex, cryptocurrencies, and stock indices are published on the company's website. For currencies, the levels of Support and Resistance, price charts, and upcoming events that may affect the change in the value of the asset, are indicated;
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Video tutorials. They are dedicated to registering on the LonghornFX website, making a deposit, and opening a trading account in the MT4 mobile or desktop versions. There is also a video tutorial on how to create a partner user account;
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FAQs. They contain such important information as trading and partnership conditions, information on trades and payments, and the basics of making trades in MetaTrader 4.
Advantages:
Technical support is available 24/7;
Free Forex forecasts based on technical analysis;
Creating a user account takes no more than 10 minutes, and you can trade immediately after making a deposit;
The minimum withdrawal amount is $10;
It is possible to have more than one live or demo account.
Regardless of the deposit amount and the monthly trading turnover, a single standard of service and order execution is applied to all clients.
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