Does LonghornFX Accept US Clients as of 2024? 

US traders always look to trade with a suitable forex broker. The country has strict regulations in forex trading. As a result, the majority of online forex brokers do not accept US clients because they can not meet the regulatory requirements of the US authorities. High leverage and CFD trading are restricted in the USA. However, many forex traders still opt for trading CFDs with high leverage. That is why many traders settle for offshore forex brokers. 

LonghornFX is an online offshore forex broker that is not authorized or regulated by any authority anywhere; so it is not under any obligation to abide by the rules guiding US-regulated brokers. In this blog post,  we will explore whether LonghornFX accepts US clients, its Pros and cons, and why US traders choose brokers like LonghornFX and more.

Does LonghornFX Accept Clients?

Yes, LonghornFX accepts US Clients. Being an unregulated online forex broker, the broker has the flexibility to onboard clients from various locations worldwide, including the USA. Therefore, US traders can register for an account and trade forex and CFD trading with LonghornFX.

Why Do US Citizens Use Offshore Brokers Like LonghornFX?

Below are some of the reasons why a US trader will choose to trade with LonghornFX :

CFD trading:

Contracts for differences (CFDs) are financial contracts between a broker and a trader which allows the trader to take positions on the broker’s platform and speculate on the price direction of underlying financial assets without ownership. For example, with CFDs, a trader can make money by predicting the price direction of a company’s stock market shares without owning the company shares.

Unfortunately, the regulators officially prohibited US traders from trading CFDs. However, LonghornFX gives US traders opportunities to trade CFDs from stocks, indices, and commodities.

High leverage:

Leverage is a tool that multiplies a trader’s market exposure in relation to his deposit. US traders are mandated to restrict forex leverage to 1:50 but LonghornFX offers up to 1: 500. This means that with a deposit of $500; you can open positions worth $250000.

With higher leverage, there is a higher chance of making more profits provided that the market moves in favor of your position.

Low trading capital:

With LonghornFX, US traders can start trading with $10 but US-regulated brokers demand a higher minimum deposit. Also, the trading fees and commissions are much lower with LonghornFX than with the US-regulated brokers. Perhaps, because obtaining and maintaining a US forex broker license is very expensive.

Tax:

The United States has stringent tax laws which are almost impossible to evade. Forex traders are required to pay taxes on their profits. Trading with unregulated brokers like LonghornFX makes it easier to pay reduced taxes especially if BTC is used to fund and withdraw from the trading account.

Pros and Cons of LonghornFX

Pros :

• low Minimum Deposit – You may deposit as low as $10
• Allow Crypto CFD Trading 
• Offers leverage as high as 1:500
• Offers MT4 Trading Platform
• 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 
• Only Crypto  Deposit and Withdrawal Option 
• No Managed Account Options

Which countries are restricted on LonghornFX

As LonghornFX is an unregulated offshore forex broker. It can onboard clients from anywhere in the world. Currently, the broker does not have any restricted county list on its website. so it accepts clients from all over the world. 

Frequently Asked Questions (FAQs)

What is LonghornFX?

Founded in 2020, LonghornFX is an online forex and CFD broker. It is an offshore forex broker that offers forex (major pairs, crosses, exotic pairs), cryptocurrencies, indices, metals, futures, commodities, and stock trading services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of LonghornFX is as high as 1:500. To learn more about LonghornFX, its features, pros, and cons, you can read our review on LonghornFX.

Is LonghornFX Regulated in the USA?

No. LonghornFX is not regulated in the USA. It is an unauthorized offshore forex broker. 

Does LonghornFX have any office in the USA?

No, LonghornFX does not have an office in the USA. As per their website, the broker is located in Saint Vincent and the Grenadines

Where is LonghornFX located?

LonghornFX is located in Saint Vincent and the Grenadines. However, on their website, we find a couple of locations. 

1. Suite 102, 1st Floor, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius.
2. Euro House, Richmond Hill Rd, P.O Box 2897, Kingstown VC0100, Saint Vincent and the Grenadines.

Can Americans use LonghornFX?

Yes, American traders can use LonghornFX. However, traders should take care while trading with unregulated forex broker

Final Thoughts:

LonghornFX is a forex broker that offers online forex and CFD trading services. The broker gives access to trade with a wide range of trading instruments including Forex, Commodities, Indices, Currency Indices, Cryptocurrencies, Shares, ETFs, and CFD Forwards. The broker allows almost all trading styles including scalping, hedging, copy trading, and news trading. 

LonghornFX allows US clients to enjoy forex trading services on their own terms. If you like high leverage, LonghornFX offers leverage up to 1:500. Traders are allowed to use any strategies including scalping, hedging, news trading, and so on. Unlike US-regulated brokers, LonghornFX offers CFD trading. It uses the Meta Trader 4 (MT4) as its trading platform. 

Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks