LonghornFX and Plexytrade 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 LonghornFX and Plexytrade 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.
LonghornFX vs Plexytrade: In a Nutshell
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, you can read our in-depth review of the broker.
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
Plexytrade
Founded in 2024, Plexytrade is a forex and CFD broker that offers online trading services globally. It is an unregulated offshore broker that offers 100+ instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Plexytrade is as high as 1:2000.
Plexytrade at a Glance
- Founded Year: 2024
- Headquarters: Rodney Bay Gros Islet, Saint Lucia
- Minimum Deposit: $50
- Maximum Leverage: 1:2000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4, MT5
- Account Types: Micro, Silver, Gold Raw, Platinum VIP
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Cryptocurrencies, Bitcoin
- US Traders: Accepted
LonghornFX vs Plexytrade: Side By Side Comparison
LonghornFX vs Plexytrade: Features
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
PlexyTrade
- Trading Instruments: 100+ products in FX, Indices, Crypto, Commodities and Stocks
- Trading Platforms: MT4 & MT5 & Mobile
- Minimum Deposit: $50
- Maximum Leverage: 1:2000
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.7 pips for the Micro account, $2 per lot ($4 round turn) for the Gold Raw account, and $1 per lot ($2 round turn) for the Platinum VIP account.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 5 Lots
- Funding Currencies: USD/EUR
- Trading Style Allowed: Almost all trading styles including scalping, hedging, News trading, copy trading, and EA Trading.
- PAMM/ MAM: Available.
- Stop Out Level (retail): 20%
- Margin Call Level: 50%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
LonghornFX vs Plexytrade: Pros and Cons
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
Plexytrade Pros & Cons
- The maximum leverage is as high as 1:2000 ( Leverage may vary based on account types and tradable asset types)
- Allow Crypto CFD Trading
- The maximum lot size is as high as 1000 lot
- Raw spread starting from as low as 0.0 pips
- Offers MT4, and MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Plexytrade Accepts Crypto Deposits
- Unregulated offshore forex broker
- Only Crypto Deposit and Withdrawal Option
- A limited number of tradable assets
Final Thoughts:
LongHornFX and PlexyTrade 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, LongHornFX supports MT4 trading platform. On the other hand, PlexyTrade supports MT4, MT5 and Tradelocker trading platforms. The minimum deposit for LongHornFX is $10, whereas the minimum deposit for Plexy is $50. Additionally, the maximum leverage for LongHornFX is 500:1, while the maximum leverage for PlexyTrade is 2000:1.
Our score for LongHornFX is 4.4, and for PlexyTrade, it is 4.5.So, If you are looking for a high-leverage offshore broker with Metatrader (MT4/MT5) trading platform you may choose PlexyTrade. However, if you prefer not to use MT5, you may choose LongHornFX.
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
