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LonghornFX Review: Is LonghornFX a Good Broker?

Broker overview and general information

LonghornFX is an ECN STP broker that offers a wide range of financial products. Traders have access to over 150 tradable assets, including Forex, Cryptocurrencies, Stocks, Indices, and Commodities.

Broker Licensing and Regulation

If you ask whether LonghornFX broker is good or not, you must first consider the license factor, which has the following licenses:

• FINANCIAL SERVICES AUTHORITY St Vincent & The Grenadines (FSA) License No. 442LLC2020 under Longhorn LLC.

• Mauritius' Financial Services Commission (FSC) License No. GB23202204 under LONGHORN LTD.

⚠️Warning:Although the broker is regulated, many users are concerned about the FSC and FSA licenses, which are less strict in terms of regulation. This makes users feel uncertain about the regulation under this agency. Therefore, it is necessary to reconsider this factor before investing.

Broker Products and Services

Trading products

• Forex: Trade Forex with major and minor currency pairs such as AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY and exotic currency pairs.

• Cryptocurrencies: Trade cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), IOTA (IOT), Tron (TRX) and more.

• Indices: Major indices such as the NASDAQ 100 (NAS100), S&P 500 (SPX500), Dow Jones (US30), and global indices such as the UK 100 (UK100), Germany 30 (GER30), and Japan 225 (JPN225).

• Metals: Trade precious metals with CFDs such as gold (XAUUSD, XAUAUR), silver (XAGUSD), platinum (XPTUSD) and other metals.

• Commodities: Trade Crude Oil (UKOil, USOil) with LonghornFX Profit from price differences without actually owning it.

• Stocks: Trade prices from a wide range of global stocks such as Apple Inc (AAPL),Amazon.comInc (AMZN), Facebook Inc (FB), Microsoft Corporation (MSFT), and others.
  

Trading Platform

• Meta Trader4

  The most popular asset trading platform in the world, comes with a variety of indicators, stability and speed of opening and closing orders. Broker supports MT4 platforms, both web trader (browser), MT4 desktop, MT4 for smartphones IOS & Android.

LonghornFX Review: Account Types

The broker offers only one type of trading account, the Real Account, with a maximum leverage of 1:500, allowing trading in 36+ crypto pairs / 73+ stocks / 55+ currency pairs / 10+ indices, with low commissions and spreads starting at 0.07.

Deposit and Withdrawal Review

Make a deposit

Credit and debit cards (MasterCard, Visa)

• Minimum deposit amount: $50

• Maximum deposit amount: Depends on monthly card limit and status verification.

Bitcoin Deposits

• Bitcoin:

  • Minimum deposit amount: $10

  • It may take up to 6 hours for the network to verify.

  • Bitcoin network fee 0.0005BTC

• Bitcoin via Instacoins:

  • Minimum deposit amount: $50

  • It may take up to 6 hours.

  • Bitcoin network fee 0.0005BTC
    

Withdraw money

• Bitcoin:

  • Check within 1 day

  • It may take up to 6 hours for confirmation.

  • Bitcoin network fee 0.0005BTC

Minimum and maximum deposit/withdrawal amount:

• Minimum deposit amount:

  • Bitcoin: $10

  • Credit/Debit Card: $50

• Maximum deposit amount:

  • Bitcoin: Unlimited

  • Credit/Debit Card: Depending on your monthly credit limit and financial status check.

• Minimum withdrawal amount:

  • Bitcoin: $10

• Maximum withdrawal amount:

  • Bitcoin: Unlimited

Customer Service

• Live Chat

• E-mail:[email protected]

• Facebook:https://www.facebook.com/longhornfx/

• X :https://twitter.com/longhorn_fx/

• IG :https://twitter.com/longhorn_fx/

Broker Review Overview Summary

LonghornFX is a broker that needs careful consideration due to several concerns, particularly its credibility and transparency regarding licensing. Although it is currently licensed by the FSA and FSC, this may not be enough to instill confidence in traders. Deposits and withdrawals that are primarily Bitcoin-only may not be convenient for some traders, and there are also fixed withdrawal fees that may increase the cost of small transactions. In addition, the $6 per lot commission charged on every trade may increase trading costs compared to other brokers.

Additionally, there is a lack of 24/7 customer support, which can be inconvenient for traders in different time zones. The lack of important information such as account type details and support for the MT4 platform only limits trading options. Traders should consider this information carefully and check more details before deciding to invest with this broker.

LonghornFX Frequently Asked Questions

Q: What is the minimum deposit?

A:  $10 

Q: How long does it take to process a withdrawal?

A: Bitcoin withdrawal requests are reviewed and once approved, withdrawals are subject to blockchain speed and require at least 6 confirmations before reaching the wallet.

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LonghornFX Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.