In all our broker reviews, we focus on publicly available information and in-depth research about the company. Our priority is to provide a neutral view of the broker that might help traders take an appropriate trading decision. Therefore, we open an account with a broker and test their service, and sometimes we consult their management team to get accurate information about the company. We followed the same standard for the LonghornFX broker review, to help give you an extensive outlook.
LonghornFX is an ECN STP broker, which delivers a superior trading experience to traders, no matter their level of experience. Moreover, the broker offers its services based on transparency, innovation, and efficiency, ensuring an exceptional trading experience.
However, there is more to know about this broker. Is it wise to make an account here？ Continue reading AtoZ Markets' full LonghornFX broker review to learn more.
COMPANY
8 /10
LonghornFX is operated by Longhorn LLC, First Floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent, and the Grenadines.
LonghornFX is a true ECN broker where traders are granted fast and direct access to the world's most liquid market with Straight-through Processing. Moreover, this company uses the cold storage system that is effective in ensuring the safety of clients' funds in a secure offline vault.
Currently, LonghornFX offers a vast number of trading instruments, including 35 cryptocurrencies, 55 currency pairs, 64 stocks, 11 indices, and commodities.
Pros and Cons
Pros
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Access to a trustworthy and acclaimed MetaTrader trading platform.
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Low spreads and commissions on all tradable assets.
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24/7 support offered by an experienced team of professionals, via live chat.
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Pricing is entirely transparent, fast, and accurate.
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Cold storage to ensure the safety of funds.
Cons
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MT5 is not available.
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Less Education Support.
TRUST
8 /10
LonghornFX is located at First Floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent and the Grenadines. St. Vincent and Grenadines also regulate it. During our review, we have found that this broker follows every rule, as mentioned by the regulating authority.
On the other hand, as the broker is a true ECN STP broker, the pricing, execution, and innovation are of the highest quality, ensuring a hassle-free trading environment. However, the details about fund safety and security are not mentioned in the LonghornFX website. Overall, based on our findings, this broker is trustworthy as it follows every standard of a True ECN STP broker.
TRADING PLATFORM
8 /10
MetaTrader 4 is a world-class trading platform that is very easy to use, and traders of every level can use it to enjoy a first-class trading experience. Moreover, this platform is available through every device, via the Web trader, windows, android, iOS and Mac Apps.
LonghornFX MT4
MT4 is the most popular trading platform in the world, with numerous built-in indicators to help traders apply technical analysis to their trades. Moreover, with the implementation of Expert Advisor (EA), on the desktop version, traders can use the MQL4 built-in development environment (IDE) and available historical data. Other features of LonghornFX MT4 are mentioned below:
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Nine different timeframes and three trading chart types
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Excellent order execution capability
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More than 50 built-in trading indicators and nine timeframes.
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Lots of publicly and custom-made indicators and EAs.
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Built-in strategy testing and backtesting opportunities.
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Both pending orders and instant orders for different market conditions.
LonghornFX App
LonghornFX MT4 has both an iOS and android version, which are available in more than 20 languages. The android and iOS app are almost similar to the desktop version of mt4, where all types of timeframe and execution are available.
Moreover, some built-in indicators might help traders apply analysis easily from every place and every time. However, the custom made indicators and EA are not supported in the MT4 app.
Trading Instrument
LonghornFX allows traders to trade on many instruments that most of the forex brokers do not allow.
Besides the seven major currencies, there are 22 cross currencies and 27 exotic pairs. Moreover, there are more than 30 cryptocurrency pairs, 11 indices, four metals, one future, and 64 stocks.
This broker is perfect for traders who seek a trustworthy, low-cost and straightforward trading environment with portfolio diversification opportunities.
LonghornFX Articles
LonghornFX provides financial market trading education opportunities for every trader. The articles section on their website covers the deposit and withdrawal methods through Coinbase accounts. Moreover, the basic fundamentals of forex trading, leverage, and the mt4 interface, are covered in the article section, but we did not find any valuable education content in this broker.
ACCOUNT TYPES
7 /10
LonghornFX simplifies trading by allowing multiple trades through a single trading account. Therefore, every trader can trade on different instruments through a single trading account.
LonghornFX Live Account
A LonghornFX live account allows trading from the MT4 platform, which is very famous among traders and investors. Some other features of LonghornFX are:
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Hedging and scalping allowed.
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Minimum deposit $10
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Leverage up to 1:500.
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Low commission and narrow spread.
CRYPTOCURRENCY
9 /10
Trading Cryptocurrencies operates in a similar way to trading Fiat Currencies, although Cryptos are typically more volatile. Traders can generate profits by using Fundamental or Technical Analysis to help them trade. The LonghornFX MT4 platform offers a range of indicators to help show you past price trends and help to anticipate new ones.
In LonghornFX, there are more than 35 cryptocurrencies, including the BTCUSD, ETCUSD, NEOBTC, XRPBIT, BCHBTC, ETHBTC, etc.
The execution and speed of cryptocurrency trading through this broker is very fast, and it maintains a high standard that is often helpful for traders.
The LonghornFX network is fully secured. Client funds are safely stored in cold storage – a completely offline BTC storage wallet for maximum security – and out of reach of malicious online threats.
COSTS
9 /10
LonghornFX has a floating spread that changes with the price movement. During the review, the lowest spread was in USDJPY at 0.7 pips. Moreover, in the Cryptocurrency section, the lowest spread was found at IOTA/USD with 0.00230.
Besides the trading fee, BTC deposits and withdrawals carry a fee of 0.0005BTC. This is charged by the network and not LonghornFX. The fee equates to around $5 and is fixed whether the transaction is $10 or $10,000.
CUSTOMER SUPPORT
9 /10
In the FAQ section of LonghornFX, there is much-required information provided for investors. The FAQ section is distinguished in the following categories:
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Trading Accounts & General Information
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Bitcoin & Cryptocurrencies
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MetaTrader4
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Transactions & Payments
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LonghornFX Affiliate Program
Therefore, any required information regarding the following topics is covered in the FAQ section. Moreover, there is a live chat function that is very fast and effective. Other contact methods are mentioned below:
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Address: First Floor, First St Vincent Bank Building, James Street, Kingstown, St. Vincent, and the Grenadines.
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Request a callback.
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Email: support@LonghornFX.com
REGULATION
7 /10
St. Vincent and the Grenadines regulate LonghornFX.
CONCLUSION
LonghornFX is the right broker for those who seek a platform that can provide a hassle-free, transparent trading experience. Moreover, there is an enormous number of trading instruments that might help traders expand their trading portfolios.
Additionally, the cold storage ensures the safety of cryptocurrencies invested with this broker, a significant plus point. Besides cryptocurrencies, there are forex, indices, stock and commodities available to trade through this broker, and the number of trading instruments is vast. This broker allows the opening of multiple trading accounts so that traders can distinguish between their trades in different accounts.
During our review, we found this broker is trustworthy. However, if you want to invest in this broker, we encourage you to conduct your own research, which may start with a low deposit.
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