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Longhorn FX Forex Broker Review

Introduction

Longhorn FX is a new online forex trading broker based in Saint Vincent and the Grenadines. It was founded in 2020. Although it is a new broker, it has nevertheless quickly built up a name for itself in an increasingly crowded market. With over 183 tradable assets on offer – including 35 cryptocurrency pairs, 55 currency pairs, 64 stocks, 11 indices and a number of commodities – Longhorn FX represents a decent offering for new and intermediate traders. With competitive spreads, tight margins and relatively low commissions, Longhorn FX is a decent option for new and intermediate traders looking to try something new.

  • Cryptocurrency pairs
  • Major and minor currency pairs
  • Stocks
  • Indices
  • Commodities

Longhorn FX Trading Account Types

Longhorn FX currently offers two main types of account: a trading account and a demo account. The trading account gives you full access to the platform, and once registered and verified, you can deposit to your account and trade on the live markets. The demo account offers the same functionality, with the only difference being that you will not trade any real funds.

Longhorn FX Commission and Fees

Longhorn FX prides itself on being a fully open and transparent broker, and this definitely applies to the fees and commissions you will be charged for making trades on the platform. Longhorn FX charges a flat fee for each lot traded, which is also broken down into micro-lots where appropriate. This is standard across all instrument types. Users of the platform should also be aware that a fee will be charged for withdrawals from the platform – this is currently a flat fee of 0.0005BTC. There are no fees for deposits made to the platform.

Longhorn FX Platforms and Tools

Trading is delivered mainly through the MetaTrader 4 (MT4) platform. No access is provided to the MetaTrader 5 (MT5) platform, though trading can also be done through a web-trader.

Longhorn Research

Longhorn FX does not offer any comprehensive trading research materials through the website, though there is a dedicated educational section that contains a number of trading guides and overviews.

Longhorn FX Mobile Trading App

Longhorn FX provides a comprehensive mobile trading experience that is delivered through the MT4 app. This mobile trading platform comes in iOS and Android variations and offers the same functionality as the desktop and web-based versions.

Should I trade with Longhorn FX?

If you are a new or intermediate trader looking to get started trading for the first time, Longhorn FX is a well-equipped trading platform with plenty of features on offer. It offers relatively tight spreads and a transparent pricing and commission structure, which makes a good starting point for beginners. Although lacking some of the advanced features that are present on other, larger platforms, Longhorn FX is nevertheless a solid option for new and intermediate traders.

Pros Cons
Tight spreads and fast execution speeds No trading bonus schemes or other promotional offers
Transparent commission and fees structure No advanced research features
High-leverage broker with up to 1:500 on certain instruments Fee for withdrawals from the platform
Bitcoin-only platform allows for same-day withdrawals

FAQs

Is Longhorn FX an ECN broker?

Longhorn FX is an ECN STP broker. As an STP and ECN broker, it can receive and offer quotes directly from liquidity providers. This make it incredibly competitive.

What leverage does Longhorn FX offer?

Longhorn FX offers high-leverage trading of up to 1:500, though this will depend on the instrument you are looking to trade.

What are Longhorn FX’s platforms?

The main trading platform used by Longhorn FX is the MetaTrader 4 (MT4) platform. This is a popular and award-winning trading platform.

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