LHFX (Longhorn Ltd)
Tier-3 Regulated - Moderate Risk (FSC Mauritius & FSCA South Africa)Pros
- Competitive ECN trading environment with direct market access and low spreads starting from 0.7 pips on major pairs
- High leverage options up to 1:500 available for qualified traders
- Extensive range of tradable assets including 55 currency pairs, 35 cryptocurrency CFDs, 64 stocks, and various commodities
- Fast withdrawal processing with claims of 30-minute processing times for verified accounts
- Robust MT4 platform offering with desktop, web, and mobile versions supporting automated trading and EAs
- Transparent commission structure at $6 per lot with no hidden fees
- Comprehensive 24/7 customer support via live chat, email, and phone
Cons
- Regulated by tier-3 authorities (FSC Mauritius and FSCA South Africa) offering less investor protection compared to tier-1 regulators
- Not available to traders from major jurisdictions including EU, EEA, UK, and United States
- Limited track record as a broker having only been established in 2021
- No choice of account types with different commission structures (only ECN model available)
- Spreads can widen significantly during major news events and periods of market volatility
- Lack of negative balance protection could expose traders to significant losses during extreme market conditions
Basic Information
User Reviews
Regulation Analysis
LHFX operates under a dual regulatory framework that provides moderate oversight of its operations. The primary entity, Longhorn Ltd, is authorized and regulated by the Financial Services Commission (FSC) of Mauritius under Investment Dealer license number GB23202204, Code SEC-2.1B. Additionally, LHFX SA (PTY) Ltd holds authorization from the Financial Sector Conduct Authority (FSCA) of South Africa under license number 52816. While these regulators provide basic operational oversight, they are considered tier-3 regulators with less stringent requirements compared to major financial regulators like the FCA, ASIC, or CySEC. The Mauritius FSC regulation requires the company to maintain certain capital adequacy requirements and follow basic operational procedures, while the FSCA oversight adds an additional layer of supervision for South African operations. However, traders should note that these jurisdictions do not offer the same level of investor protection mechanisms found in major financial centers. There are no mandatory compensation schemes, and client fund protection measures may be less robust than those required by tier-1 regulators. The broker claims to segregate client funds, though specific details about the banking institutions used are not publicly disclosed. Notably, LHFX does not offer services to residents of the EU, EEA, UK, United States, or other strictly regulated jurisdictions, likely due to their inability to meet the more stringent regulatory requirements of these regions.
Trading Products
- Forex Trading: Comprehensive offering of 55 currency pairs including all major, minor, and exotic combinations. Major pairs feature competitive spreads from 0.7 pips with leverage up to 1:500 available.
- Cryptocurrency CFDs: Access to 35 cryptocurrency pairs, allowing traders to speculate on digital assets without owning the underlying tokens. Available with competitive spreads and high leverage options.
- Stocks: Trading available on 64 individual stock CFDs from major global exchanges, allowing traders to access equities markets with leverage.
- Indices: Access to 11 major global indices including key benchmarks from US, European, and Asian markets.
- Commodities: Trading available on various commodities including precious metals, energies, and agricultural products.
- Trading Conditions: ECN execution model with $6 per lot commission structure, variable spreads depending on market conditions, and leverage up to 1:500 depending on instrument and account type.
- Trading Hours: 24/5 forex market access, with specific trading hours for other instruments based on underlying market schedules.
Trading Platforms
- MetaTrader 4 (MT4): Primary trading platform offering comprehensive charting capabilities, multiple timeframes, technical analysis tools, and automated trading support through Expert Advisors (EAs). Available as desktop download for Windows, WebTrader for browser-based access, and mobile apps for iOS and Android devices.
- MT4 Desktop Features: Full suite of trading tools including 30+ built-in indicators, 9 timeframes, custom indicator support, advanced charting tools, and one-click trading functionality. Supports automated trading through EAs with backtesting capabilities.
- WebTrader: Browser-based trading solution requiring no downloads, offering most MT4 functionality including charts, market orders, and account management.
- Mobile Trading: Native MT4 mobile apps for iOS and Android providing full trading capabilities, real-time quotes, charts, and account management on the go.
- Additional Tools: VPS services available for EA trading, economic calendar integration, and market analysis tools.
Deposit and Withdrawal
- Deposit Methods: Multiple options including credit/debit cards (Visa/Mastercard), bank wire transfers, and various e-wallets. Specific processing times and fees vary by method.
- Minimum Deposit: Base minimum deposit requirement of $10, though higher amounts recommended for effective trading.
- Withdrawal Methods: Same as deposit methods, with withdrawal requests processed within 30 minutes for verified accounts according to broker claims.
- Verification Requirements: Standard KYC documentation required including proof of identity and proof of address before withdrawals can be processed.
- Processing Times: Card deposits typically instant, bank transfers 2-5 business days, e-wallet transactions processed quickly.
- Fees: No deposit fees charged by broker, though third-party payment processors may apply their own fees.
- Currencies: Multiple base currencies supported for accounts including USD, EUR, and GBP.
Customer Support
LHFX provides 24/7 customer support through multiple channels including live chat, email, and telephone. The support team is available round-the-clock to assist with trading inquiries, technical issues, and account management. Response times are generally quick, particularly through live chat which typically connects to an agent within minutes. Email support handles more complex queries with response times varying based on inquiry complexity. The support team communicates in multiple languages, though English is the primary language. Educational resources include trading guides, market analysis, and technical support documentation. The broker maintains an extensive FAQ section addressing common questions about account opening, trading conditions, and platform functionality. While the support structure is comprehensive, some users report longer wait times during peak trading hours and occasional language barriers with support staff.
FAQ
Q: Is LHFX a regulated broker?
A: Yes, LHFX operates under dual regulation from the Financial Services Commission (FSC) of Mauritius (License GB23202204) and the Financial Sector Conduct Authority (FSCA) of South Africa. However, these are considered tier-3 regulators offering less stringent oversight compared to major financial regulators. The broker is not regulated in major jurisdictions like the EU, UK, or US and cannot accept clients from these regions.
Q: What are the trading conditions offered by LHFX?
A: LHFX operates an ECN trading model with spreads starting from 0.7 pips on major pairs and a commission of $6 per standard lot. They offer leverage up to 1:500, though this varies by instrument. The minimum deposit is $10, and they provide access to over 150 trading instruments including forex, cryptocurrencies, stocks, indices, and commodities.
Q: How fast are withdrawals processed?
A: LHFX claims to process withdrawals within 30 minutes for verified accounts, though actual receipt of funds depends on the payment method used. All withdrawals require prior account verification through KYC procedures. The broker supports multiple withdrawal methods including bank transfers, credit/debit cards, and e-wallets.
Q: What trading platforms does LHFX offer?
A: LHFX primarily offers the MetaTrader 4 (MT4) platform across multiple versions including desktop (Windows), WebTrader (browser-based), and mobile apps (iOS/Android). The platform supports automated trading through Expert Advisors, provides comprehensive charting tools, and offers real-time market analysis features.