LMFX and Longhornfx are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review LMFX and Longhornfx by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
LMFX vs LonghornFX: In a Nutshell
LMFX
Founded in 2015, LMFX is a forex and CFD broker that provides online trading services globally. It offers around 100 trading instruments through the MetaTrader 4 (MT4) platform. LMFX provides low spreads and fast execution speeds as an ECN/STP broker. The broker offers three account types: Premium, Fixed, and Zero. The broker offers a demo account for practice. The broker provides trading tools, including multiple calculators, an economic calendar, and a blog featuring market news and trading insights.
LMFX runs a monthly demo contest with a total prize pool of $1,750, awarded as live trading funds. It offers a 100% deposit match bonus for deposits of at least $100 and a Phoenix bonus for first-time deposits. The broker provides a free VPS service for traders who meet specific criteria. LMFX operates without regulation from any major financial authority. It accepts clients from various countries, except the USA and Canada.
LMFX Overview
- Founded In: 2015
- Trading Instruments: 100+ trading instruments including Forex, CFDs (Indices, Commodities, Metals, Shares)
- Minimum Deposit: $50
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform: MT4 on desktop, web, mobile
- Bonus: Available
- Account Types: Premium, Fixed, Zero, Micor, Islamic
- Payment Options: Crypto, Credit Card,
- Trading Styles: Scalping, hedging, EA Trading, News trading are allowed.
- Trading Tools:Economic calendar, Free VPS, trading calculators
- US Traders: Accepted
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.
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
LMFX vs LonghornFX: Side By Side Comparison
LMFX vs LonghornFX: Features
LMFX
- Trading Instruments: Forex, Metals, Oil, Indices, Commodities, Shares
- Trading Platforms: Mt4, Web Trading, Mobile
- Minimum Deposit: $5
- Maximum Leverage: 1:1000
- Trading Fees: Spreads starting from 1 pips. LMFX charges a fixed commission for every lot traded. A lot is equal to 100,000 units of currency. If you have a zero account, the commission is $4 per lot which means $8 for a round lot.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 50 Lots
- Funding Currencies: USD/EUR
- Trading Style Allowed: Almost all trading styles including Scalping, hedging, copy trading, and EA Trading.
- Stop Out Level (retail): 20%
- Margin Call Level: 50%
- Negative balance Protection: Yes
- Investor Protection: No
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.
- KYC Verification: Required
LonghornFX
- Trading Instruments: 183+ instruments including Forex majors, crosses and exotics, Stocks, Cryptocurrencies, Indices, Metals, Energy
- Trading Platforms: Mt4
- Minimum Deposit: $10
- Maximum Leverage: Forex – 1:500 Metals – 1:500 Indices – 1:200 Energy – 1:100 Crypto – 1:100 Stocks – 1:20
- Trading Fees: Only Spread is charged (No Commission). Variable spreads from 1 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Bitcoin and Bitcoin via wire transfer or credit/debit card
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 70%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
LMFX vs LonghornFX: Pros and Cons
LMFX Pros & Cons
- The maximum leverage is as high as 1:1000.
- Tight Spread Starting from 0 pips
- Free VPS for high-volume traders.
- Allow Scalping, News Trading, EA Trading
- Does not have any FIFO Restrictions
- Deposit bonus and other bonuses.
- Due to the absence of regulatory restrictions, the broker is open to clients worldwide
- Multiple payment options including crypto and e-wallets.
- 4 Types of accounts available ( Premium, Micro, Fixed Zero)
- Traders are supported with trading tools like calculators, economic calendars, etc.
- Not Regulated by Any Authority
- Crypto CFDs are not available to Trade
- No Investor Protection Scheme
- No access to MetaTrader 5. Only MT4 and Webtrader are available.
- The minimum deposit for bank wire transfers is $250
- Managed Accounts and Social Trading (MAM, PAMM Accounts) are not Available
LonghornFX Pros & Cons
- 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
- Unregulated Offshore Forex Broker
- Only Crypto Deposit and Withdrawal Option
- No Managed Account Options
Final Thoughts:
LMFX and LongHornFX are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, LMFX does not support MetaTrader (MT5) trading platform; instead, it uses the MT4 trading platform. On the other hand, LongHornFX supports MT4 trading platforms. The minimum deposit for LMFX is $5, whereas the minimum deposit for LongHornFX is $10. Additionally, the maximum leverage for LMFX is 1000:1, while the maximum leverage for LongHornFX is 500:1.
Our score for LMFX is 3.6, and for LongHornFX, it is 4.4. If you are looking for a high-leverage offshore broker with MT4 trading platform you may choose LongHornFX. However, if you prefer not to use MT5, you may choose LMFX.
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
