LonghornFX is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.
LonghornFX accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|55+ Currency Pairs||Based on major and minor world currencies.|
|30+ Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, Ripple, Tether, Metaverse, Qtum, OmiseGO, Eidoo, Santiment, Monero, Zcash, EOS, IOTA, NEO, TRON.|
|12 Indice CFDs||Based on baskets of different blue-chip stocks and US Dollar Index.|
|5 Metal CFDs||Based on Gold, Silver, Platinum and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|60+ Stock CFDs||Based on shares of US, UK and EU companies.|
Registered in Saint Vincent and the Grenadines and established as recently as in 2020, LonghornFX is one of the newcomers among the many offshore forex & CFD brokers we have reviewed here on FX-List. The broker offers high trading leverage, fairly tight spreads, and a decent selection of trading instruments to choose from.
A special thing to note about LonghornFX is that it has made Bitcoin the “primary deposit method” for its clients. This means that bitcoin is the preferred way to fund trading accounts, although the account itself will not be denominated in bitcoin, but rather in US dollars. This obviously involves a conversion between bitcoin and USD after the deposit is made. However, details about this conversion process, such as the exchange rate used and any fees involved, have unfortunately not been disclosed by the broker.
For clients who prefer a more traditional payment method, LonghornFX also supports deposits made with credit and debit cards via third party payment processors.
As would be expected by any offshore broker that supports cryptocurrency deposits, crypto trading is also an important part of what LonghornFX has to offer for its clients. The selection when it comes to cryptocurrencies is much better than what we usually see from traditional forex brokers, and includes everything from Bitcoin to Ethereum, Litecoin, Ripple (XRP), and many other digital assets. Most of the cryptocurrencies offered can be traded against the US dollar, and many can also be traded against other cryptocurrencies, just as is common on traditional crypto exchanges.
Besides the wide selection of cryptocurrencies, LonghornFX also offers a whole range of forex pairs, stock indices, single stocks, metals, and energy commodities for trading. Also worth noting is the large amount of leverage that is available when trading each of these assets. For major FX pairs, the leverage can go as high as 1:500, while it is lower for more volatile assets. Still, crypto trading is offered with a leverage of up to 1:200, which to our knowledge is some of the highest leverage for crypto offered by anyone in the industry.
All of the assets offered by LonghornFX are traded in the form of contracts-for-difference (CFDs), which is a derivative of the underlying asset. Among other things, CFDs make trading both on the long and short side easier for most beginners, while also making the underlying assets accessible for traders with less capital than what is often required by futures exchanges and other large financial institutions.
In terms of trading platforms, LonghornFX is fairly traditional in that it has chosen to stick with the widely used MetaTrader 4 (MT4) platform. Although this is a popular choice among retail forex & CFD traders, traders who are more heavily involved in crypto may be less familiar with it. Despite this, crypto traders may still find the platform valuable, with its massive built-in marketplace for automated trading algorithms (“Expert Advisors'') and custom trading indicators.
When it comes to customer service, LonghornFX claims that it offers 24/7 live support via either email, live chat, or a call-back service. However, no direct phone number to the broker is shown on its website, which in our view is unfortunate for any broker that wants to be taken seriously.
All in all, it is clear to us that LonghornFX is a company that is trying to reshape the CFD brokerage industry and move it towards a stronger focus on crypto, both as a funding method and for trading with high leverage. Given that this broker has only been in the industry since 2020, however, only time will tell whether this is the right way to go for the industry as a whole and for LonghornFX in particular.
Happy with the service from this broker. I especially like the fact that you can trade cryptos there 24/7. Same day withdrawals are a nice touch too.
Started using these guys about 6 months ago. Nice platform, good selection of assets and importantly for me they have 24/7 crypto trading, great for people busy during the week. Withdrawals are fast, spreads are decent, can't fault them really.
I moved to these guys when I wanted to explore crypto trading some more and also still be able to trade FX in the same place. Nice and simple to set up and fund. Very helpful live chat if you get stuck with the deposit process. The withdrawals are quickest I've experienced across the brokers I use at a few hours to hit my crypto wallet.
Been using LonghornFX for awhile now and they are a solid broker. Minimum deposit is only $10 which is great as you can start small and have a play around with the broker. Also like them as you can trade Crypto which I'm a fan of.