| Overall | Commissions & Fees | Licensing & Safety | Platforms & Tools | |
|---|---|---|---|---|
| Points | 88 | 86 | 92 | 90 |
Overview – Fees and commissions – Safety – Opening-an-account – Account types – Trading Platforms – Markets and products – Research tools – Education and training – Customer support – Our verdict
review
There are so many great qualities that LongHornFX Forex Broker has. The distinctive features this firm offers are a breath of fresh air within the industry. They cater to every type of player from a beginner to an expert, Their trading philosophy is based on efficiency, transparency, and pushing the boundaries.
Overview
It’s noteworthy to mention that this is a newly established firm. They have only been around for a year as of now. They are just starting out in this industry so their offers are not as high maintenance as one might expect.
After thorough research of their site, we have concluded that in total there are 183 trading instruments advertised on the LongHorn FX brokerage website.
Longhorn FX has desirable spreads, tight margins, and low commissions. The leverage ratio goes up to 1:500. You’d be excited to hear that the firm allows such trading techniques as hedging and scalping.
we can surely say that LongHornFX is here to stay for a long time as they provide efficient services and have over 180 trading instruments available for trading, including indices stocks, cryptocurrencies, and commodities such as energies and metals. They are an unregulated trading platform so they are able to offer higher leverages, which can be quite beneficial if you play your cards right.
A demo version of the LongHornFX Forex broker account is available, which means that one can strategize beforehand and reduce any sort of risks. Logically the spreads on the site are in a floating position, which means that they can change depending on which trading instrument you use.
The customer support team is available via live chat or email 24 hours a day, 7 days a week. You are also offered a callback, and one of the LongHornFX representatives will contact you to assist you with your questions over the phone.
overall scores
In this review, you can find all the information you need to decide whether is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how scored in each of our high-priority categories.
Fees And Commissions
LongHornFX implies that they are a completely open and straightforward trader, and this extends to the fees and commissions you’ll be paid while trading on the platform. LongHorn FX brokerage charges a fee per lot traded, which can be broken down into micro-lots if necessary. This is true for all forms of instruments. Withdrawals from the site will incur a network fee, which is currently set at 0.0005BTC. There are no fees associated with deposits to the website.
Deposits & withdrawal Commissions
The minimum deposit amount set by the firm is 10$. Based on the current BTC value, the network charges 0.0005BTC per transaction. The minimum amount of bitcoin one can withdraw is 0.00016 BTC.
Safety
LongHornFX Forex broker is not a regulated broker, which means that they don’t have any licenses. However, any experienced trader knows that qualifications are not the only signifiers of legitimacy when it comes to forex broker firms. The security of the LongHornFX account is excellent. They use a two-factor authentication system. It can be set up to add an additional layer of protection to your trading account. If you allow this, a unique code will be issued on your authenticator app, which you will need to access your account. all you need to do is follow the instructions which we will provide you with.
- Go to the “Account Details”
- Click the Enable button under the Two Factor Authentication section of the LongHornFX brokerage “Account Details” tab.
- To locate the code, download and open the Google Authenticator app on your phone, then go to Begin setup, then to Scan barcode.
- After you’ve scanned the barcode displayed in your browser with your phone, go to your browser and click Next. You’ll be asked to enter the code that appears on your phone as an authenticator.
Opening an account
Before you make a trading account you will need to register on the site. After the signup process is complete and you have already deposited your capital into your LonghornFX account, you can open an MT4 trading account by following these simple instructions
- First, go to the dashboard
- Click on “trading accounts”
- Then Click on Open trading account
With three simple clicks, you are now ready to start your trading experience with LongHornFX forex broker.
LongHornFX Account Types
After doing thorough research we have found that at LongHorn there is no variety when it comes to account types. This is not always a bad thing, sometimes simplicity can have its benefits as well. This is the case for this newly established firm, as they are new to the industry it’s only logical that they are still developing their brand awareness. Therefore only having one trading account type available for consumers is not only a safe way to raise awareness for themselves but also a great way to understand what their clientele likes and needs for the firm’s future development.
The great thing about a LongHornFX brokerage trading account is that it is available in both live and demo mode. This way one can understand the landscape of the firm without having to make a deposit.
One can open as many trading accounts in both live and demo modes as they please, However, each of one’s multiple accounts must have its own leverage and a different base currency of Bitcoins or available fiat currencies such as USD, EUR, and GBP, which are the major and most popular currencies.
Trading Platforms
The firm’s site has a variety of trading platforms that you can use like the acclaimed LongHornFX MT4 and Web Trader. Both mobile and desktop versions of these platforms are available with this forex brokerage.
Markets and products
35 out of 183 are cryptocurrency pairs, the other 55 are currency pairs, 64 different stocks are also available for trade, and who can forget 11 indices, the 18 left instruments include multiple commodities like metals and futures. The leverages for these instruments differ from one another
Research tools
LongHornFX opinions vary on the internet however, there are multiple tools at one’s disposal on the site to make the trading experience even more exciting.
Education and training
They have a great social media presence, which is so important for the information flow. They have actually based their promotional contest on these media platforms. As for the educational materials, there are plenty of guides available in video format where one can get great advice and brush up on various trade-related topics. If you prefer written content there are many blogs written on the site for your enjoyment
Customer support
LongHornFX Forex broker gets its revenue through commissions. While other forex brokers would try to hide this fact at LongHornFX, they proudly announce it on their website and if you do get in touch with them via live chat, email, or a phone call, the customer service team will be just as upfront about these topics as well.
LongHornFX Review – Our Verdict
All in all, LongHornFX is fully aware of the dangers of it as well this is why they are always upfront about any given topic.
Even though it has barely been a year since the foundation of this forex broker firm, according to some LongHornFX reviews written by various platforms allegedly they have already managed to get a license. If we trust these sources as of now the company is being regulated by Saint Vincent and the grenadines state authority and commission.
For more information and clarity we have gotten in touch with the firm’s hotline and when we directly asked them about this matter they were very transparent about the fact that at the moment they actually don’t have any licenses. Which makes more sense as no regulated broker can be able to have such high leverage ratios as LongHornFX brokerage has.
Not to mention the fact that this firm has won two different awards for “Best Newcomer Broker” from Fxdailyinfo.com and “A&OZ”. This is an affirmation of the fact that this firm is working hard to gain notoriety and a good reputation.
What’s next
TAKE ACTION
Open an account on the broker website.
COMPARE BROKER
See what benefits one offers over the other.
CHECK THE FOREX GUIDES
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