LonghornFX is a forex broker that is supposedly licensed by the authorities of Saint Vincent and The Grenadines. In the review below, we take an in-depth look at the features longhornfx.com allegedly offers. This review basically answer the questions: is LonghornFX legit? Is Longhorn FX good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about LonghornFX forex broker.
Table of Contents
LonghornFX Trading Platform
This Saint Vincent and The Grenadines’ broker claims to offer assets with a suspiciously high leverage of 1:1000. It also claims to offer the MT4 trading platform.
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LonghornFX Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has no information on account types
LonghornFX Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a bitcoin address for funding. We do not advise you to send any funds to them as transactions with bitcoin are hard if not impossible to trace or reverse
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Longhorn FX Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
Brokers have different modes of operation, notwithstanding there is still a rhyme and reason to their actions. Most Unlicensed brokers lack this reason to their actions, Brokers like Globalspot, BitSend, Amelok, Vertex247, Investotrades.
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Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.
Never had a problem with this broker. Always got my withdrawals the same day, even if it’s a weekend. BTC payouts are a blessing.
Customer support are helpful. I had a few questions before I signed up and they put my mind at ease.
I’ve had a good experience with LonghornFX myself. Deposits and withdrawals have all been processed on the same day. Lots of crypto offerings too which is great for 24/7 trading.
They have been consistently reliable for trading crypto and they offer higher leverage which I’ve used to grow small accounts quickly. I think they have around 40 cryptos to trade now and they keep adding to them which is great for diversifying.
LonghornFX has excellent leverage which was a real must for me, both on Forex and Crypto trading. The customer experience has also been really good, live chat always respond quickly and it was super straightforward to set-up when i joined. Very happy so far 🙂
Great review! I personally use LonghornFX to trade Cryptos and FX pairs. Although their crypto spreads are a bit wide, they don’t bother me much for the convenience and security they offer. Trading fees/commissions are still cheaper than many other brokers out there. Also, their support is amazing which is important for novice traders.
Very decent and my main broker from over an year already. Smooth process and responsive support. Very user oriented and helpful policies.
These fraudsters underestimated their target this time. Not only did they take almost all of my savings, but they also prevented me from withdrawing any profits from their website. I’ve always been cautious of online schemes, yet somehow they managed to entice me into their website. Within just one month of joining, I lost around $70-120,000. I initially got involved because I wanted an additional source of income alongside my job, but it turned out to be a disastrous outcome. The assigned account officer showed no concern when I reported my withdrawal issues. Instead, he blocked direct messaging and forced me to communicate through a group chat. This confirmed my suspicions that it was all a scam. Fortunately, working with SCOTT WILFRED to recover my profits proved to be the best decision I made during that period. Collaborating with SCOTT WILFRED was not an easy process, as I had previously attempted to resolve the issue with other individuals who were solely interested in extracting more money without delivering results. I can confidently say that this team entered my life to rectify the wrongs I had experienced. It is crucial to be cautious about whom you trust with your case to avoid falling victim again, as I did. You can reach SCOTT WILFRED via email at wilfredscott 912 @ gmail.com