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5.42/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Minimum deposit:
  • $10
Trading platform:
  • Web Trader MT4
  • MT4 Mobile app
Regulation:
  • SVGFSA
Foundation date:
  • 2021
53
users picked this broker in 3 months
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Our Evaluation of LonghornFX

5.42/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Traders Union icon

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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Advantages of trading with LonghornFX:
  • 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.
Disadvantages of LonghornFX:
  • No cent accounts;
  • The broker is not licensed;
  • Deposits and withdrawals are available exclusively in cryptocurrencies.

TU Expert Advice

Anton Kharitonov

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.

Trade with this broker, if:
  • 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.
Do not trade with this broker, if:
  • 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
📊 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

User Satisfaction i

Score:
4.7/10

Share your experience

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amicusman
18 weeks ago

The minimum deposit on LonghornFX is just $10 - that's practically nothing, so anyone can try trading here. Such a low entry threshold makes the platform accessible even to beginners, which is certainly an advantage, but what's surprising is that with such a democratic deposit amount, there are no penny accounts here. It would seem logical to offer them so that traders can test strategies with minimal risk, but there is no such option. It's something of a paradox: it's easy to log on to the platform, but there's no option to trade small lots on a penny account. It would be a good idea for the broker to rectify this point and make the conditions even more flexible.

Le dépôt minimum sur LonghornFX n'est que de 10 $ - c'est pratiquement rien, et tout le monde peut donc essayer de trader ici. Un seuil d'entrée aussi bas rend la plateforme accessible même aux débutants, ce qui est certainement un avantage.
Mais ce qui est surprenant, c'est qu'avec un montant de dépôt aussi démocratique, il n'y a pas de comptes en cents ici. Il semblerait logique d'en proposer pour que les traders puissent tester des stratégies avec des risques minimes, mais il n'y a pas d'option de ce type. Il s'agit d'une sorte de paradoxe : il est facile de se connecter à la plateforme, mais il n'y a pas de possibilité de négocier de petits lots sur un compte en cents. Il serait bon que le courtier corrige ce point et rende les conditions encore plus flexibles.

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GARUDA
19 weeks ago

LonghornFX's main drawback is its lack of a license. This is the most serious drawback, as without regulation there is no guarantee of transparency and protection of traders' funds. For many people, this can be a decisive factor in choosing a broker, as a license represents at least some confidence in the honesty of the company. On the other hand, there is one curious feature: the ability to open an unlimited number of accounts for a single trader. If it's important for you to work with several strategies at once, or to separate transactions on different assets, this can be a practical advantage. However, the question of security remains open, and everyone must decide for themselves whether they are prepared to work with an unregulated broker.

Le principal inconvénient de LonghornFX est l'absence de licence. C'est l'inconvénient le plus grave, car sans réglementation, il n'y a aucune garantie de transparence et de protection des fonds des traders. Pour de nombreuses personnes, il peut s'agir d'un facteur décisif dans le choix d'un courtier, car une licence représente au moins une certaine confiance dans l'honnêteté de l'entreprise.
D'autre part, il existe une caractéristique curieuse : la possibilité d'ouvrir un nombre illimité de comptes pour un seul trader. S'il est important pour vous de travailler avec plusieurs stratégies à la fois ou de séparer les transactions sur différents actifs, cela peut être un avantage pratique. Cependant, la question de la sécurité reste ouverte et chacun doit décider pour lui-même s'il est prêt à travailler avec un courtier non réglementé.

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nelsonhorta
24 weeks ago

LonghornFX offers very narrow spreads starting from 0.1 pips, which is a strong argument in favor of the broker. This is particularly important for scalpers and active traders trying to minimize costs. In this respect, the terms look attractive, but there's one nuance that may scare some away: depositing and withdrawing funds is only possible in crypto-currencies. If you're used to using bank transfers or electronic payment systems, this can be a serious drawback. This format is not for everyone. So before you start trading, you need to ask yourself whether you're comfortable working exclusively with digital assets.

LonghornFX propose des spreads très étroits à partir de 0,1 pips, ce qui constitue un argument de poids en faveur du courtier. Ceci est particulièrement important pour les scalpeurs et les traders actifs qui essaient de minimiser les coûts. À cet égard, les conditions semblent attrayantes.
Mais il y a une nuance qui peut en effrayer plus d'un : le dépôt et le retrait de fonds ne sont possibles qu'en crypto-monnaies. Si vous avez l'habitude d'utiliser des virements bancaires ou des systèmes de paiement électronique, cela peut constituer un sérieux inconvénient. Ce format ne convient pas à tout le monde. Avant de commencer à négocier, vous devez donc vous demander si vous êtes à l'aise pour travailler exclusivement avec des actifs numériques.

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Anogfot
1 year ago

Problems with withdrawals in LonghornFX is the credo of its work. You can always put money into the account, but they do not allow you to withdraw. I have been waiting for a withdrawal of $600 for 5 weeks now. I think that I will not get my money, and this is sad.

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burehozavet63
1 year ago

I studied LonghornFX. And now I can say that this is a very dubious company. They have a lot of information that is not true. They have been operating for only two years, although the website claims that LonghornFX has been operating for at least five years. And it is very important that this company does not have licenses from any regulator. So be careful!

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Hamilmurn
2 years ago

LonghornFX is not a good broker! More than once I met negative reviews on the Internet about it, about withdrawing money, mainly ... but I hoped that this would concern large amounts. Unfortunately, I was convinced from my own experience that you can’t withdraw even $50 here. If you don't want problems, don't deal with this broker.

Score:
5.14/10

Trading Account Opening

Below are brief instructions for registering with LonghornFX and creating a user account on its website:

1

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.

Review of LonghornFX’s User Account — Registration
Review of LonghornFX’s User Account — Registration
Review of LonghornFX’s User Account — Registration
Review of LonghornFX’s User Account — Registration
2

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.

3

Services available in the LonghornFX’s user account:

1. Deposit:
Review of LonghornFX’s User Account — Making a deposit
Review of LonghornFX’s User Account — Making a deposit
2. Two-Factor Authentication:
Review of LonghornFX’s User Account — 2FA setup
Review of LonghornFX’s User Account — 2FA setup
1. Deposit:
Review of LonghornFX’s User Account — Making a deposit
Review of LonghornFX’s User Account — Making a deposit
2. Two-Factor Authentication:
Review of LonghornFX’s User Account — 2FA setup
Review of LonghornFX’s User Account — 2FA setup

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.

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
1.5/10

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.

Advantages
  • Negative balance protection
Disadvantages
  • 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

Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
8/10

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.

Advantages
  • Low Forex trading fees
  • Tight EUR/USD market spread
  • No inactivity fee
  • No deposit fee
  • No withdrawal fee
Disadvantages
  • 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
Score:
3.98/10

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:

Account Type
Description
MT4 ECN
is an account for trading directly with liquidity providers. It allows you to trade with the tightest possible spreads but with a fee per lot.

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.

Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
6.95/10

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.

Advantages
  • No deposit fee
  • No withdrawal fee
  • USDT (Tether) supported
  • Bank card deposits and withdrawals
Disadvantages
  • 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.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
5.25/10

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.

Advantages
  • Commodity futures are available
  • Crypto trading
  • 55 supported currency pairs
Disadvantages
  • 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
Score:
6.07/10

Customer support

Information

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:

  • live chat;

  • callback;

  • email.

Clients and non-registered users have access to the same communication channels.

Contacts

Foundation date 2021
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
Score:
7.13/10

Education

Information

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.

Information available in the Resources section
Information not available on the LonghornFX website
Opening a trading account
Glossary of Forex terminology
Technical analysis
Basics of trading Forex and CFDs
How to deposit and withdraw funds
What is a trading strategy?
What is spread, lot, and pip
Risks of trading financial instruments and ways of reducing them
How to connect leverage
How to prepare for trading mentally
Adding cryptocurrencies to MT4
Fundamental analysis

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:

  • 183 trading instruments;

  • Support works 24/7;

  • Spreads are from 0.1 pips;

  • 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:

  • 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;

  • 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;

  • 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:

1

Technical support is available 24/7;

2

Free Forex forecasts based on technical analysis;

3

Creating a user account takes no more than 10 minutes, and you can trade immediately after making a deposit;

4

The minimum withdrawal amount is $10;

5

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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