LonghornFX Review - Does It Support MT4 and MT5? - WikiFX

LonghornFX was registered in 2020 in South Africa, specializing in the forex, indices, commodities, stocks, and cryptos markets. It provides demo accounts and claims that the leverage can be up to 1:500. However, this company is not regulated, and it does not reveal details about accounts. Besides, it does not provide services to US residents.

Pros and Cons

Is LonghornFX Legit?

No, LonghornFX is not regulated by financial regulatory authorities in South Africa, which means the company lacks regulation from its registration site. Please note the potential risks!

What Can I Trade on LonghornFX?

LonghornFX offers different types of products, including forex, indices, commodities, stocks, and cryptos.

Leverage

The leverage can be up to 1:500, which is not low. LonghornFX does not reveal the leverage ratio of different account types on its official website, and it only gives a vague ratio. Traders need to consider carefully before investing, since high leverage is likely to bring high potential risks.

LonghornFX Spreads

The spreads vary in terms of trading assets.

Trading Platform

LonghornFX uses MT4 as its trading platform, which is a commonly used platform and is suitable for beginners.

Deposit and Withdrawal

LonghornFX accepts different types of payment options: MasterCard, VISA, Skrill, Neteller, wire transfer, and Bitcoin. However, other details such as the accepted currencies, commission fees, and the processing time are not clear.