LonghornFX Review: The Deceptive Web in Forex Trading
Are you ready for a no-nonsense look at LonghornFX? Examining this trading brand raises big questions. Their website talks about awards and trust from thousands, but these claims seem truly fake in our opinion.
As savvy traders, you deserve the lowdown on this platform. We’ll stick to the facts only. So let’s dive into this informative LonghornFX review for more!
| Company type | Broker |
| Legal name | Longhorn LLC |
| Regulation | Unregulated |
| Registered in | St. Vincent & The Grenadines |
| Established | 2020 |
| Website | longhornfx.com |
| Financial Authorities Warnings | No official warnings |
| Contacts | [email protected] |
| If withdrawal is possible | n/a |
| Fees | From $10 |
| If Active on Social Media: | X, Instagram, and Meta |
| Investor Protection: | No |
| Activity areas | United States, South Africa, India, Malta |
| Main threats | No regulation and bogus ratings |
| Main perks | Software choice and payment options |
About LonghornFX
LonghornFX claims to be your go-to forex broker, registered in Saint Vincent and The Grenadines. But it is wise to keep in mind that there is no regulatory stamp of approval from the big financial players. A respectable broker should possess Tier 1 regulation from the FCA, ASIC, CySEC, or other top-notch regulators.
Multi-award winner? Thousands of satisfied clients? Sounds good, but let’s keep our skeptical hats on when dealing with such phony trading zones.
Hunting on the Web
Launched in 2020, the web domain of this firm has been buzzing, especially in the US, South Africa, Malta, and India. Social media-wise, they’re on Facebook and TikTok, but here’s the twist – some small-time creators are acting as go-betweens. Be cautious, as some of these creators may profit from your losses.
Should you believe these terms? No regulatory handcuffs mean this firm can flaunt some tempting trading conditions. We will elaborate on that later on!
More “Benefits”
This trading platform pitches affiliate programs as a side hustle. This indeed sounds like a good offer. They claim that for each affiliate 50% of the commission goes straight into your affiliate account.
Also, we found some appealing marketing materials like banners and JPEGs. Tempting, yes, but the legitimacy of all that is up for debate. It’s better to do affiliate marketing with a respectable broker like SVK Markets or Webull.
Trading Environment
Let’s talk about trading features – or the lack of them. This broker is pushing you to create trading accounts, but they’re silent on what those accounts really offer.
Add some issues with trading apps and a foggy view of covered instruments, and you’ve got yourself a questionable cocktail.
Speaking of leverage, we can see that it is 1:500. Still questionable! Below-average trading costs, sub-1 pip spreads on EUR/USD, and a $6 commission per lot traded? All of this sounds nice, but it’s wise to question the whole deal.
Poor Software Integration
When it comes to software integration, this broker falls short. Yes, they offer MT4 software, but the execution isn’t great!
The mobile app, while there, lacks customization. We must say that this opens the door to possible issues. Moreover, this raises big concerns about the overall reliability of the trading platform.
It’s crucial to mention the importance of choosing legit brokers that provide real MT4 and MT5 options. Opting for brokers with these industry-standard platforms is always a better and safer option! Know that these offer advanced features and a proven track record.
Extensive Instrument Portfolio
LonghornFX scam offers an extensive selection of 175+ trading instruments. We can see they span forex, crypto pairs, stocks, and indices. The variety seems promising, doesn’t it?
However, the lack of detailed information might leave you wanting more clarity. In the world of trading, having a full understanding of each instrument is crucial. Informed decisions require more than just numbers. Keep that in mind!
LonghornFX Withdrawal Methods
Despite its questionable reputation, another good aspect of this broker is its diverse range of payment options. Longhorn FX allows users to choose from a selection that includes BTC, Visa, Skrill, Neteller, bank cards, and wire transfers.
This variety of payment methods suits the preferences of a broad user base. These are great for flexibility in managing all transactions. Still, we cannot confirm if any of them actually work due to a suspicious rep here.
Speaking of LonghornFX minimum deposit requirements, they vary. The minimum amount is $10 if you fund your account with BTC, and $50 if you fund your account with a card.
Academy
We can see just a few articles, and nothing special here. For a platform claiming to educate, it’s a bit of a letdown. A handful of intro articles and videos fall short of being a rich source of knowledge.
We advise you to choose a reputable trading education platform and stay away from deals like these.
Spotting Scam Brokers
Fake brokers like RaiseFX and LonghornFX have a knack for drawing in traders with promises of sky-high returns. They tap into the universal desire for fast profits. But the trickery doesn’t end there. Lack of transparency is a major red flag as they thrive on vague terms, hidden fees, and unclear withdrawal conditions.
Some take it a step further, manipulating trades to ensure losses for traders while pocketing gains for themselves. Be careful of pressure tactics too. If you’re bombarded with aggressive sales pitches and relentless pushiness, consider it a classic warning sign. Always stay vigilant for these telltale red flags to guarantee a secure trading journey.
Trustpilot Ratings
Taking a deep dive into Trustpilot, we can see some unsettling reports. Trustpilot stated that they removed reviews due to an influx of fake positives. This is more than just a red flag!
It’s a clear warning to think twice before considering this platform. What’s more, think about opting for trading bots that have earned a Trustpilot rating of 4.5 stars or higher. When it comes to managing your finances, it’s a smart move that shouldn’t be overlooked.
Earning Money Trading
There are many ways to profit from FX and crypto trading! Are you ready to venture into online trading, where the road to profit is within reach? We’re not only here to guide you with free Zoom consultations!
We’re thrilled to introduce our latest innovation – the AI Analysis Tool. This powerhouse doesn’t just analyze historical prices but also digests breaking news, offering forecasts that can keep you steps ahead in the world of trading.
Final Words
As we wrap up, let’s cut through the noise. Beyond flashy offers, your choice of trading platform must be grounded in wisdom. The broker we talked about here has nothing to offer. Everything about them is bogus and unreliable.
Take the time to explore, prioritize security, and consider the alternative we proudly present – the AI Analysis Tool. This trading tool is a strategic move towards a safer and more rewarding trading experience.
FAQ
What is LonghornFX?
LonghornFX is a bogus FX platform offering various assets like forex and stocks.
Is LonghornFX Legit?
Not really. Legitimacy concerns make it unreliable.
Is Longhorn FX a Good Broker?
No. This broker is not recommended for trading.
