LHFX Forex broker review — Everything you need to know

LHFX is a trading name of Longhorn Ltd, which is a foreign exchange and CFD broker based offshore in Mauritius. The broker recently acquired EagleFX broker which was not known for a good reputation. However, the comments and trader feedback seem mostly positive on LHFX, or the Longhorn FX broker.

In this brief but comprehensive review of LHFX (Longhorn) FX broker, we will assess its security, reliability, spreads, accounts, commissions, profit withdrawals, support, platforms, and more.

LHFX Overview of the website

The website of Longhorn or LHFX broker is messy. This is because there is no dedicated menu for trading account types, and traders need to scroll through the website to find exact conditions like spreads and leverage. Other than this crucial flaw, the website seems normal. It is responsive, and there is a menu bar to access the FAQs section, where the details about many aspects, like deposits and withdrawals, can be found. However, the lack of a dedicated deposit and withdrawal button, as well as account types, is a serious downside for this website and makes it look like a beginner company’s website. There is a built-in live chat plugin on the website, which is convenient.

Overall, the website experience of LHFX is mediocre at best, dragged down by a lack of clear details about account types, deposits, and withdrawals.

LHFX Safety

Safety is the single most important aspect in financial trading. The broker, Longhorn Ltd or LHFX, is a regulated broker. It is overseen by the Financial Services Commission of Mauritius (MU FSC). LHFX SA (PTY) Ltd operates in South Africa and is overseen by the Financial Sector Conduct Authority (“FSCA”). The more licenses the broker holds, the more reliable it potentially is. LHFX holds two licenses from MU FSC and FSCA, which is a very positive sign.

As a regulated broker, LHFX keeps trader funds in segregated bank accounts, ensuring its operational funds are kept in separate bank accounts.

The broker does not provide details about negative balance protection, meaning it does not provide this critical policy.

LHFX Accounts Reviewed

LHFX or Longhorn broker lacks account diversity, meaning it only offers one live trading account. The details of this account are hard to find, but after digging through the website, we were able to define all the important specs. Here are its conditions:

• Minimum deposit – 10 USD
• Maximum leverage – 1:500
• Spreads from – 1 pip
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Overall, the conditions are competitive, but the broker lacks ECN accounts with raw spreads, which is a downside.

Deposit and withdrawal options at LHFX

Deposits and withdrawals are accepted via many different payment methods such as Visa, MasterCard, Neteller, Skrill, wire transfers, and Bitcoin. Deposits are mostly instant, and the broker does not charge commissions on its side. However, when using most of the payments, the providers charge commissions, and when depositing 10 USD, traders should deposit more to cover fees and get a minimum deposit on their account. Withdrawals are quickly processed as the broker claims to deliver same-day withdrawals.

LHFX Assets — What can you trade?

LHFX provides access to diverse asset classes such as forex currency pairs, index CFDs, commodities, stocks, and cryptos. Most of these assets are CFDs, which enable quick trade execution, and traders can trade both buy and sell orders on stocks. The leverage is 1:500, and spreads are competitive as they are around 1 pip, and no commissions are charged.

Trading platforms of LHFX

Trading platform offerings at LHFX are attractive as the broker offers access to the advanced MetaTrader 4 platform. The platform supports custom indicators and Expert Advisors (EAs), and the broker does not prohibit them from using these tools. Mobile trading is available via the MT4 mobile app, which is convenient for trading on the go.

Education at LHFX

The broker offers access to an academy that provides trading analysis, guides, and educational articles. There are no webinars, which is a downside of this broker, but other resources are abundant, making it easy for beginners to learn the basics.

LHFX Customer Support

Customer support at LHFX is decent and provided via many different channels. There are live chat, email, and phone support options provided, enabling traders to contact the support quickly. This is crucial in trading as traders might need to resolve some issues quickly to avoid problems in their trading performance. As for the multilingual capability, the website and support opinions are provided only in the English language, which does not make the broker multilingual at all.

LHFX bonuses and promotions

When it comes to bonuses and promotions, the broker falls short. There are no bonuses provided, such as deposit and welcome bonuses, and no promotions are available either, which is a downside. The lack of trading competitions or any other motivational promotions is also a drawback.

Is LHFX your broker? Final verdict

LHFX or Longhorn FX is a regulated offshore broker offering a competitive trading environment, such as 1:500 leverage, low spreads, and a 10 USD minimum deposit. However, the broker lacks clarity on trading account types, negative balance protection, and promotional offers. The website is cluttered, but support and platform access are solid. While LHFX offers a wide range of assets and educational resources, advanced traders might miss ECN accounts and raw spreads for their scalping systems.

FAQs on the LHFX broker

Where is LHFX based?

LHFX is based in Mauritius and operates under Longhorn Ltd, regulated by the MU FSC and FSCA (South Africa).

Can you withdraw from LHFX?

Yes, LHFX allows withdrawals via a multitude of methods, including Bitcoin, bank wire, and cards. Withdrawals are claimed to be processed the same day.