Relatively few options for trading metals, futures and commodities. Not regulated and this exposes clients to potential losses should the broker go under or dissappear. All in all, we would never recommend our reader an unregulated broker with a variety of faults.
LonghornFX notes that withdrawals are typically processed on a same-day basis. This is much faster than most trading platforms active in the space, which often require 1-2 working days to process the cashout. The company has a lot of media exposure, and they’ve taken use of the power of social media platforms by holding a contest. Every Tuesday, LongHornFX hosts a calendar competition on their social media sites. A winner will be chosen at random and will receive a $100 cash prize in their trading account.
On LonghornFX you are able to create a demo account via MT4 or Web Trader. Of course, if you already have some Bitcoin then you can go ahead and fund your account directly, cutting out any need for an external payment provider. On top of the aforementioned features, MT4 also enables you to use an automated forex robot to trade for you – meaning you can buy and sell whilst trading completely passively. In the case of currencies, NZD/USD can be traded with a spread of 0.7 pips.
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What are the Pros and Cons of LonghornFX?
The fee structure is easy to understand and transparent for clients. Below we’ve gone into a little more detail on what fees you might expect on this broker platform. There are nearly 40 cryptocurrency pairs at LonghornFX, so if you want to try and predict the future of crypto coins you won’t be short of options on this platform. Any referrals to 3rd parties may have computational rewards.
On the website, you will be able to find a decent number of articles and guides on a variety of topics for all levels of investors and traders. Being a new broker in the industry, it does not come as a surprise that LonghornFX is not yet regulated. As regulation takes a very long time to set up, meanwhile this CFD broker maintains some restrictions on trading and complies with laws and regulations of St. Vincent and the Grenadines.
In both scenarios, you can trade on a smaller scale if that’s what you feel comfortable with. As we mentioned, this broker is fully compatible with the ever-popular trading platform MT4 . MT4 is an extremely useful tool plus500 review in anyone’s trading arsenal. This third-party platform gives traders access to heaps of technical analysis tools, price charts and many more useful features. LonghornFX has more than 150 tradable instruments on offer.
This is the only broker that I use
This covers some of the largest companies on the NASDAQ and NYSE. Been with this broker for a couple of years and find they have pretty much every asset I like to just2trade review trade. Main perk for me is the BTC deposits and all the advantages that come with it. Longhornfx broker is unregulated and has many faults regarding legitimacy.
- The customer support is available via Callback, Email, Live chat and Web form.
- Some trader does their business with unregulated firms, however, the lack of transparency is an issue that needs to be examined.
- Clients can maintain both live and demo accounts when trading with longhornFX.
- Traders are also invited to pay by Bitcoin directly if they wish.
- Based on this user feedback, it appears that LonghornFX is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.
- The minimum deposit required to start trading is $10 if you fund your account with Bitcoin, and $50 if funding your account with credit or debit card.
However, the overall suspicious aspects of the Longhorn broker are intentional, banking on the confusion of the traders to open an account. A regulated broker equals a more responsible trading environment. Deposits and withdrawals have all been processed on the same day. Lots of crypto offerings too which is great for 24/7 trading.
One of the areas that LonghornFX excels is in its customer service support. The broker does not make it difficult to get in contact with its customer support team with a 24/7 support offered by an experienced team of professionals. It is important to note that while the industry standard in the online brokerage space is 24/5, this broker operates on a 24/7 basis. If you are looking for competitive trading costs, LonghornFX is a great choice of broker. As this forex broker is connected to top liquidity providers, it has the ability to offer traders with extremely tight spreads. The spreads at LonghornFX are variable , meaning that they tend to be high during extreme volatility, however, on average, variable spreads tend to be significantly lower than fixed spreads.
LongHornFX review – The horns of Trading
I’ve been doing a lot of trading with them for quite a while now, mainly because of the goods spreads, it allows me to make a better profit. Moved to them as offered fast BTC withdrawals and leverage was much higher than I could get from a native broker. You are allowed to open as many trading accounts as you want to, each with a Bitcoin base currency.
I signed up with this broker almost a year ago now and have been using them mainly for forex trading and shorting the crypto and stock markets. Learn2.trade takes no responsibility for loss incurred as a result of the content provided inside of our Telegram groups. By signing up as a member you acknowledge that we are not providing financial advice and that you are making the decision on the trades you place in the markets. It might be a good idea to start off using the demo account we mentioned earlier. The demo account can be used as often and for as long as you like. You can demo trade with BIT, GBP, EUR or USD with any amount of mock funds you want.
Launched in 2020, LonghornFX is an Online Broker dedicated to revitalising the Forex trading landscape. As a true ECN STP Broker, LonghornFX provides its clients with high-speed processing and direct access to the world’s most liquid markets. LonghornFX is an online CFD and forex broker that provides traders across the globe with access to a trading platform on which they can buy and sell various financial assets. It is a true ECN/STP broker that focuses on delivering a cutting edge trading experience with full transparency and low-cost trading fees. LonghornFX has a limited selection of educational articles on their website including trading guides covering subjects such as leverage, spreads, trading platforms, cryptocurrency and more. I like these articles as they can be useful to help beginner traders increase their knowledge about how to trade online.
When comparing LonghornFX to other brokers in the industry, it has quite a few strengths that enable investors to get more of their trading experience. First and foremost, LonghornFX is a true ECN/STP broker which only makes money from the spreads but never trade against its clients, meaning you can feel safe trading with this broker. Secondly, you’re unlikely to find many brokers that offer these tight spreads and low swaps trading rates.
Before trading, you should carefully consider your investment objective, experience, and risk appetite. Like any investment, there is a possibility that you could sustain losses of some or all of your investment whilst trading. You should seek independent advice before trading if you have any doubts.
All you need to do is to visit Longhorn’s homepage and click on the ‘Sign-Up’ button. Then, fill in your personal details or sign up using your Google or Facebook accounts. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Richard has many years of experience in broker research, testing, analysis and reviews.
I find it simple to use for chart analysis, placing and managing trades. The automated trading capabilities are my favourite feature as I like to run trading robots that automate my strategies. I think this platform should be able to meet the needs of most traders, with plenty of additional tools available if you want to further enhance its functionality. canadian forex review As we touched on, Longhorn FX is a forex and CFD broker offering a plethora of financial instruments to the trading community. You can trade everything from currency pairs and crypto coins to stocks commodities and indices – all of which can be accessed by means of a CFD. In a nutshell, this means you can short-sell and also buy if you wish.
Their products and service are not being monitored by any regulatory bodies. It’s the only explanation on how they can afford to provide such a high leverage ratio and the available spreads are nothing to brag about either. Every Tuesday, however, there is a social media-based contest in which a lucky winner receives a $100 or bitcoin equivalent in their trading account balance. There is only one account standard account available in live and demo mode. For some trader, this could be a good thing for other very bad. Overall the lack of choice is very odd, as the broker’s counterparts offer multiple accounts for virtually every type of trader from beginner to an expert.
Whether you are trading with small amounts or large the charge is the same. If you’re interested in steady growth and relatively low risk, there are nearly a dozen indices on this platform. Some are better known such as the FTSE 100, NASDAQ 100, and Dow Jones 30. Compare broker See what benefits one offers over the other.
LonghornFX Reviews and Comments
I find their tradable asset offering to be quite low when compared to some other brokers like IG who have an impressive range of more than 17,000 in comparison. That being said, there is more than enough to diversify your portfolio. You will find everything from major currency pairs to popular cryptos and stocks of major companies. The minimum deposit required to start trading is $10 if you fund your account with Bitcoin, and $50 if funding your account with credit or debit card. Any forex investor knows that in order to trade currencies online, you need a trading platform to do it on. Ideally, this company should have a diverse selection of assets on offer, great customer service, and super low fees.