Company DetailsTrading PlatformHow To Place A TradeAssets & MarketsSpreads & FeesLonghornFX LeverageMobile AppPayment MethodsDepositsWithdrawalsDemo AccountHow To Open An MT4 WebTrader Demo AccountDeals & PromotionsRegulation & LicensingAdditional FeaturesAccount TypesHow To Open A LonghornFX AccountBenefitsDrawbacksTrading HoursCustomer Service ReviewSecurity & SafetyLonghornFX VerdictAccepted CountriesCompare LonghornFXLonghornFX Comparison TableCompare Trading InstrumentsLonghornFX vs Other BrokersFAQWhat Is The Minimum Deposit At LonghornFX?What Leverage Opportunities Does LonghornFX Offer?Is LonghornFX Regulated?Does LonghornFX Offer A Demo Account?What Trading Platform Can I Use At LonghornFX?
LonghornFX is a multi-asset ECN broker offering trading opportunities on the MetaTrader 4 platform. Day traders can access leverage up to 1:500, an unlimited demo account, plus Bitcoin deposits and withdrawals. This review will cover the broker’s regulatory status, login security, minimum deposit requirements, withdrawals, and more. We also unpack the pros and cons of trading with LonghornFX.
The online brokerage was established in 2020, with headquarters in Saint Vincent and the Grenadines.
LonghornFX is a true ECN broker, providing traders with Direct Market Access (DMA) using Straight Through Processing (STP). Clients benefit from tight spreads via the firm’s liquidity providers alongside low commissions and swap fees.
The broker offers 150+ assets including stocks, indices, cryptocurrencies, commodities, and forex pairs. 24/7 customer support and a $0 minimum deposit requirement also make LonghornFX accessible for beginners.
The company is not regulated by a trusted financial authority.
LonghornFX provides the MetaTrader 4 (MT4) platform.
MT4 is available as desktop software, via major browsers, or through Apple and Android-compatible apps.
The award-winning, multi-asset terminal provides in-depth technical analysis features, trading tools, and charting software. Functionality includes:
Three order execution types
30 built-in technical indicators
Hedging and scalping permitted
Fully customizable and in-depth charts
Four pending order types and trailing stops
Direct access to Expert Advisors or build your own algorithms
How To Place A Trade
Download the MT4 platform or log in via the WebTrader or mobile app
Select the asset you wish to trade using the drop-down menu or search bar
Select ‘new order’; the icon is located second from the left in the top navigation bar
The ‘new order’ screen should pop out
Enter trade details including volume, order type, and risk management
Choose ‘buy’ or ‘sell’
Confirm the order
How To Trade
Assets & Markets
LonghornFX offers 150+ global instruments:
Speculate on US Dollar futures contracts
Invest in four precious metals and two energies including UK and US Oil
Trade 60+ company stocks such as Tesla, Amazon, Coca-Cola, Facebook, and Netflix
Trade on 10 of the world’s largest indices including the FTSE 100, S&P 500, and ASX 200
Speculate on 50+ currency pairs including the EUR/USD, GBP/USD, EUR/NZD, and GBP/SEK
Take crypto positions on 35 digital currency pairs including BTC/USD, ETH/USD, LTC/USD, ZEC/BTC, and OMG/BIT
Spreads & Fees
The online brokerage offers tight floating spreads using ‘institutional grade liquidity from global institutions’.
When we used LonghornFX, we were offered the EUR/USD currency pair with a 0.6 pip spread. US Oil CFDs were offered at 0.8 pips.
The broker also charges a $6 commission per lot traded. There are no fees to open a LonghornFX account or for inactivity.
Due to the lack of regulatory oversight, LonghornFX can offer substantial margin trading opportunities.
Maximum leverage by instrument:
Stocks – 1:20
Forex – 1:500
Metals – 1:500
Energies – 1:200
Indices – 1:200
Cryptocurrencies – 1:100
The margin call is 100% with a stop-out level of 70%.
LonghornFX does not offer a proprietary mobile app. Nonetheless, the MT4 terminal can be used on mobile and tablet devices. It is available for free download to iOS and Android devices.
You can manage your account, open and close positions, plus customize graphs and charts while on the go. You can also set up price movement alerts and notifications. All order types are available, alongside financial market news and an in-app chat.
Users can deposit to trading accounts through Bitcoin, Bitcoin via Instacoins, bank wire transfers, and credit/debit cards.
There is no minimum deposit requirement to open a LonghornFX live account, though the broker advises transferring at least $10. It is also worth noting that there are minimum deposit amounts for certain payment methods ($10 for BTC and $50 for credit/debit cards).
LonghornFX does not charge any deposit or withdrawal fees, though third-party charges, including blockchain network fees, may apply.
Processing times vary by method. Credit/debit cards often provide instant funding. Cryptocurrency payments are subject to network confirmation times.
Withdrawals can be made via Bitcoin only.
There is a minimum withdrawal amount of $10. The blockchain network implements a 0.0005 BTC fee per transaction.
The broker submits all withdrawal requests on the same day. Processing times are dependent on blockchain confirmation speeds, typically taking around one hour.
LonghornFX offers a free demo account service. You can practice trading, test platform features, or finesse a strategy risk-free.
Retail traders can use the demo service with flexible leverage and unlimited virtual funds.
How To Open An MT4 WebTrader Demo Account
Once you have registered for an account you can request the demo service.
From the client dashboard, select ‘Demo Accounts’ from the navigation bar located along the left side. Scroll to the bottom and choose a platform to practice trading on (WebTrader, MT4 for Windows, or mobile).
Select the embedded link to open the WebTrader
An ‘Open Account’ pop-out window will appear
Enter your name, email address, and account type
Choose the size of your virtual balance
Select the leverage ratio
Your registration details will be displayed on the next screen (make note of these so you can access your demo account)
Deals & Promotions
LonghornFX does not offer any bonuses or financial incentives. While using LonghornFX, we also did not come across any friends/family referral schemes, monetary rewards, or trading contests.
Although this may be disappointing, instead the broker aims to provide competitive trading conditions with tight spreads and flexible leverage.
Regulation & Licensing
The broker operates under the company name Longhorn LLC, registered in St Vincent and the Grenadines.
LonghornFX is not regulated by a top-tier financial authority. Broker-dealers without regulatory oversight may not offer the same levels of protection or security as brands that hold licenses with the US Securities and Exchange Commission (SEC) or the UK Financial Conduct Authority (FCA), for example.
Having said that, it is good to see that LonghornFX complies with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) protocols.
Our experts were pleased to see some basic educational resources and trader guides. We were able to access price trend technical analysis and educational articles. It would be good to see these updated regularly though, as the majority of posts are dated back t0 2020.
LonghornFX also provides integrated YouTube video content to help new traders get started. This includes details on how to make a deposit, how to sign up and how to use the MetaTrader 4 mobile app.
LonghornFX offers a single retail trading account.
Nonetheless, you can be flexible with leverage and your chosen account denomination. You can deposit in USD, GBP, EUR, or BTC. The maximum trade size is 1000 lots, with a minimum of 0.01 lots.
Swap-free Islamic accounts are also available. You can select this option at the sign-up stage.
How To Open A LonghornFX Account
Select the ‘Sign Up’ logo located in the top right of the navigation bar on the official website
Enter basic contact details including name and email address
Verify your account with the email confirmation link
You will then have access to a trading dashboard where you can finish your account registration
Verify your phone number
Make a deposit
Create a MetaTrader account
Confirm all account details and begin trading
Note you cannot open a trading account without adding funds to a live profile.
While using LonghornFX, we found several key advantages:
True ECN broker
MetaTrader 4 platform
Multiple asset classes
Flexible leverage up to 1:500
Customer support is available 24/7
Integrated step-by-step user videos
Demo account with unlimited virtual funds
Our experts also found several disadvantages when testing and reviewing LonghornFX:
Only one account type
Bitcoin withdrawals only
No bonuses or financial incentives
The broker’s trading servers operate on a GMT+3 time zone which is synchronized with the MT4 platform.
Trading hours will vary by instrument. Stock markets are typically open from 9:30 AM to 4 PM local time, Monday to Friday. Cryptocurrency works slightly differently with digital assets available 24 hours a day, 7 days a week.
Customer Service Review
LonghornFX customer support is available 24/7. Day traders can contact the broker through email (email@example.com) or via their live chat function. When we tested LonghornFX’s live chat, we received a response within one minute.
Alternatively, you can search for common queries on the broker’s FAQ portal. Topics include trading accounts, making payments, MetaTrader 4, and affiliate program queries.
LonghornFX is also present on social media channels including Twitter and Facebook.
Security & Safety
LonghornFX uses a cold storage system to store client funds. The solution segregates company funds from customer money in a secure offline vault.
The MetaTrader platform also offers security features. The server encrypts all transactional data and IP addresses are hidden when making trades through the platform. RSA digital signatures are also used.
Our experts also recommend enabling two-factor authentication (2FA). If this is enabled, a unique code will be generated on an authenticator app of your choice.
Note, if a trade is subject to a technical error or platform fault that resulted in a monetary loss, LonghornFX may reimburse traders following an investigation.
LonghornFX is a multi-asset broker with a low minimum deposit, flexible leverage, and direct market access. The MetaTrader 4 terminal and unlimited demo account service also mean that the broker is set up to meet the needs of beginners.
However, be wary of LonghornFX’s unregulated status. You may not have access to the same safety features and account coverage provided by regulated brands.
LonghornFX accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use LonghornFX from United States, Canada, Japan, Algeria, Cuba, Ecuador, Iran, Iraq, Korea, Myanmar.
Compare LonghornFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to LonghornFX:
FXCC – FXCC is a trustworthy trading broker regulated by the CySEC. The brokerage offers ECN trade executions, leverage up to 1:500 and $0 commissions.
FXPrimus – Speculate on traditional and emerging financial markets via MT4, MT5 and cTrader. FXPrimus is multi-regulated and offers leverage up to 1:1000 alongside monthly promotions.
FBS – FBS is a top online broker offering MT4 & MT5 trading across a range of popular markets. Multiple account tiers and loyalty bonuses are available.
Swissquote – Swissquote is an FCA-regulated forex CFD broker offering 400+ trading products.
LonghornFX Comparison Table
|Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|0.01 Lots||0.01 lots||0.01 lots||0.01 lots||0.01 lots|
|–||CySEC||CYSEC, MIFID, ICF, FCA, BaFin, VFSC||ASIC, CySEC, IFSC, FSCA||FCA, FINMA, DFSA, SFC|
|–||100% First Deposit Bonus Up To $2000||Monthly Promos||$100 welcome bonus (only available in certain regions)||–|
|MT4||MT4||MT4, MT5, cTrader||MT4, MT5||MT4, MT5|
|1:500||1:500||1:1000||1:30 EU and restricted countries, 1:3000 rest of the world||1:30|
|–||LonghornFX vs FXCC||LonghornFX vs FXPrimus||LonghornFX vs FBS||LonghornFX vs Swissquote|
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What Is The Minimum Deposit At LonghornFX?
There is no minimum deposit required to register for a LonghornFX account. With that said, some deposit methods (Bitcoin and credit/debit cards) do have a minimum payment amount, starting at $10 and $50 respectively.
What Leverage Opportunities Does LonghornFX Offer?
Day traders can access flexible leverage. This includes leverage up to 1:500 for currency pairs and metals, 1:200 for indices, and 1:20 for stocks.
Apply suitable risk management strategies when trading with high leverage.
Is LonghornFX Regulated?
No, LonghornFX does not hold a license with a trusted regulator, such as the FCA, SEC or CySEC. As a result, the broker is less restricted in terms of the leverage and account safeguards that it has to provide.
Does LonghornFX Offer A Demo Account?
Yes, LonghornFX offers a free MT4 demo account with unlimited access, flexible leverage, and virtual funds. Clients can maintain both live and demo accounts when trading with longhornFX.
What Trading Platform Can I Use At LonghornFX?
Retail investors can trade on the MetaTrader 4 (MT4) platform. The terminal can be downloaded to desktop devices, used via internet browsers, or downloaded to mobile and tablet devices. The multi-asset platform offers multiple order types, a range of technical indicators and drawing tools, plus one-click trading.