Forex Traders always look for trading with reliable, user-friendly, and regulated forex brokers that suit their trading preferences and strategies. Forex brokers’ regulations ensure fund safety and security. Without proper regulation, you could be putting your investments at risk. If you’re considering using LonghornFX as your forex broker, you may be wondering if it is regulated.
LonghornFX is an offshore forex broker. It is not regulated by any regulatory authority. In this blog post, we will explore the regulatory status of LonghornFX, its strengths and weaknesses, and alternatives to LonghornFX.
Is LonghornFX Regulated?
No, LonghornFX is not regulated by any regulatory authority. It is an unregulated offshore forex broker. Many traders settle for unregulated offshore forex brokers to enjoy restriction-free trading (Forex, CFD, Indices) with high leverage and low spread.
LonghornFX at a Glance
- Founded Year: 2020
- Headquarters: Port-Louis, Mauritius
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4
- Account Types:
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Bitcoin and Bitcoin via wire transfer or credit/debit card
- US Traders: Accepted
Pros and Cons of LonghornFX
LonghornFX is an unauthorized forex broker. Still, many traders settle for LonghornFX for high leverage and restriction-free trading options. Here are the pros and cons of LonghornFX
Pros
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- LonghornFX Accepts Crypto Deposits
Cons
- Unregulated offshore forex broker
- Limited Deposit and Withdrawal Option
- No Managed Account Options
- Only MT4 is offered ( No other trading platforms)
Alternatives of LonghornFX
LonghornFX is a popular offshore offshore forex broker. However, other brokers can serve as alternatives to LonghornFX. These alternative brokers include
Frequently Asked Questions ( FAQs)
What is LonghornFX?
Founded in 2020, LongHornFX is an online offshore forex and CFD broker. It gives access to various financial markets over 183 instruments, commodities, stocks, and indices. The broker offers restriction-free trading facilities with low spread and high leverage. To learn more about LonghornFX including features, pros, and cons, you can read our review on LonghornFX.
What is Forex Broker Regulation?
Forex broker regulation refers to the oversight and compliance with rules and standards set by financial regulatory authorities. These regulations aim to protect traders, ensure market integrity, and maintain a fair trading environment.
Is LonghornFX an ECN Forex Broker?
Yes, LonghornFX operates as an Electronic Communication Network (ECN) forex broker, providing direct access to liquidity providers and offering competitive pricing and execution.
Is LonghornFX a Safe Broker?
LonghornFX has been providing services for a couple of years. However, the broker is not regulated by any regulatory authority. As a result, trading with LonghornFX involves inherent risks due to the lack of regulatory oversight. Traders should carefully consider these risks before engaging with the platform.
Is LonghornFX Regulated in the USA?
No, LonghornFX is not regulated in the USA. In fact, it is not regulated by any regulatory authorities.
Is LonghornFX Regulated in the UK?
No, LonghornFX is not regulated in the UK. The brokers of the UK are usually regulated by FCA, and LonghornFX is not regulated by this regulatory authority.
Is LonghornFX Regulated in Canada?
No, LonghornFX is not regulated in Canada.
Final Thoughts :
LonghornFX is an unregulated forex broker that offers forex, CFDs, and Crypto Trading via the MT4 trading platform. Since it is an offshore forex broker, it can onboard clients from anywhere in the world. The broker allows traders to trade with any style including scalping, hedging, EA Trading, news trading, and so on.
Disclaimer: Trading Forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with unregulated brokers puts your funds at higher risks
