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LonghornFX Review: Forex & CFD Trading Platform

If you want to buy and sell assets online, you will need to find a reliable trading platform that meets your investing goals. You’ll need to ensure the platform offers low fees, heaps of tradable assets, and a top-notch customer support team. LongHornFX – an online forex and CFD trading platform, claims to meet the […]

The post LonghornFX Review: Forex & CFD Trading Platform appeared first on Blockonomi.

Republished by Plato



If you want to buy and sell assets online, you will need to find a reliable trading platform that meets your investing goals. You’ll need to ensure the platform offers low fees, heaps of tradable assets, and a top-notch customer support team.

LongHornFX – an online forex and CFD trading platform, claims to meet the aforementioned requirements.

You’ll be able to buy and sell a full range of financial instruments – including but not limited to stock CFDs, indices, hard metals, cryptocurrencies, and of course – forex pairs. Best of all, you will have access to leverage facilities of up to 1:500, which is huge.

But, is the broker right for your trading needs?

In this LonghornFX review, we cover the platform from top to bottom. This includes key metrics surrounding fees, commissions, payments, support, and more.

Visit LongHornFX

What is LonghornFX?

LonghornFX is an online trading platform that offers a variety of financial instruments. This covers forex, cryptocurrencies, commodities, stocks, and indices. Each asset class is traded via a CFD instrument, meaning that you will have the capacity to place both buy and sell positions.

You will also have access to leverage, which stands at a whopping 1:500. LonghornFX allows you to trade via the hugely popular third-party platform MetaTrader4 (MT4).

Trade Forex, Cryptos and Stocks with up to 1:500 Leverage
Trade Forex, Cryptos and Stocks with up to 1:500 Leverage

This will be of interest to those of you that want access to heaps of technical indicators, chart drawing tools, and the ability to deploy automated trading robots. The MT4 platform can be accessed online, via desktop software, or through a mobile application.

In terms of fees, LonghornFX claims to offer ultra-competitive spreads and commissions. Regarding the latter, this stands at a flat rate of $6 per traded lot.

When it comes to funding, you can deposit and withdraw funds with a debit or credit card, which is facilitated by an external payment processor. This will, however, be converted to Bitcoin and then sent to your account. Alternatively, you can directly fund your account with Bitcoin.

What can you Trade at LonghornFX?

LonghornFX is a multi-asset broker that gives you access to over 180 financial instruments. As the name suggests, this includes a fully-fledged forex trading facility.

This includes most majors and minors, and an extensive selection of exotic pairs. This means that you can trade emerging currencies such as the South African rand (ZAR), Turkish lira (TRY), and the Mexican peso (MXN).

On top of forex, you can also trade:


If you want to speculate on the future value of cryptocurrencies, LonghornFX has you covered.

This includes fiat-to-crypto pairs such as BTC/USD, ETC/USD, and XRP/USD. You can also trade crypto-cross pairs – such as ZEC/BTC, XRP/BIT, and NEO/BTC.

Trade Crypto
Trade Crypto


LonghornFX also offers a selection of stock CFDs. This covers some of the largest companies on the NASDAQ and NYSE.

For example, you can enter buy and sell positions on Amazon, Apple, Facebook, IBM, Tesla, and more. Unlike traditional share dealing services, stock CFDs allow you to go both long and short.


Indices are great for speculating on the wider stock markets. At LonghornFX, you can trade 11 indices. This includes the NASDAQ 100, FTSE 100, Dow Jones 30, and Hong Kong 50.


You can also trade a number of commodities at the platform. This covers hard metals like gold and silver, as well as energies such as oil and natural gas.

All in all, LonghornFX offers a comprehensive list of assets that should suit most online traders.


Trading Fees and Commissions

When it comes to trading fees and commissions, LonghornFX offers a simple pricing structure. Put simply, you will pay $6 per traded lot. As is industry-standard, you will pay this at both ends of the trade.

In other words, you’ll pay $6 per lot when you enter your position, and again when you close it. This is actually very competitive, even for those of you that wish to trade with small stakes.


In terms of spreads, this will, of course, vary depending on the financial instrument that you are trading. As LonghornFX claims to offer ‘narrow’ spreads, we sought to explore this in more detail.

We found that on major asset classes, the platform is true to its word. For example,

  • EUR/USD and USD/JPY can be traded with spreads of 0.6 pips and 0.7 pips, respectively. This is competitive.
  • Then, you have the likes of BTC/USD at 23.6 pips, and ETH/USD at 0.34 pips.
  • The commodity department is even more competitive at LonghornFX. For example, gold can be traded with a spread of just 1.9 pips.
  • UK oil and US oil CFDs come with spreads of 0.9 pips and 1 pip, respectively. Again, this offers great value.

All in all, if you’re looking for an online platform that offers a low-cost entry to trading, LonghornFX has you covered.

Trading Platforms at LonghornFX

As we briefly noted earlier, LonghornFX offers its trading platform via MetaTrader 4 (MT4). This is one of the most utilized third-party trading platforms in the online space, as it comes jam-packed with features and tools.

For example:

  • MT4 offers heaps of technical indicators. This is crucial for analyzing charts in real-time and searching for pricing trends.
  • You can fully customize your trading screen, which includes the ability to view multiple charts.
  • MT4 allows you to install automated trading robots and Expert Advisors (EAs). This allows you to buy and sell assets in a fully passive manner.
  • You will have access to a huge selection of market order types. This ensures that you are able to deploy your chosen trading strategy.

The LonghornFX trading platform can be accessed via its web trader, desktop software, or through an iOS/Android app. Regarding the latter, this ensures that you can buy and sell assets no matter where you are located.

MetaTrader 4

On top of support for MT4, it is important to note that LonghornFX offers Straight Through Processing (STP), meaning that you will have access to some of the largest liquidity providers in the trading arena.


In terms of funding your account, LonghornFX offers two options. Firstly, for those of you that wish to use an everyday payment method, you can deposit funds with a debit or credit card.

However, and as noted earlier, you are effectively buying Bitcoin through a third-party payment processor. The funds will then be added to your LonghornFX account.

Alternatively, if you already have Bitcoin (or you wish to purchase some from an external broker), you can fund your account by transferring the coins into your LonghornFX wallet.

When it comes to account minimums, you’ll need to add at least $50 when using a debit/credit card. If depositing funds with Bitcoin directly, then it’s just $10. Either way, this ensures that you are able to trade with small amounts.

LonghornFX notes that withdrawals are typically processed on a same-day basis. This is much faster than most trading platforms active in the space, which often require 1-2 working days to process the cashout.

Once the request is authorized, the Bitcoin will be sent to your private wallet. The minimum withdrawal amount is $10.

Leverage Facilities

One of the stand-out features of using LonghornFX is that you will have access to huge leverage facilities.

This will be of particular interest to those of you based in the UK or Europe – as you are bound by the limitations imposed by ESMA. This permits maximum leverage of just 1:2 on cryptocurrencies and 1:30 on majors forex pairs.

In the case of LonghornFX, you can trade with leverage of up to 1:500. The specific amount will vary depending on your chosen asset class – as listed below.

  • Forex: 1:500
  • Metals: 1:500
  • Indices: 1:200
  • Energies: 1:200
  • Crypto: 1:200
  • Stocks: 1:20

To give you an idea of what leverage of 1:500 offers, a $100 account balance would permit a maximum trade value of $50,000. You do, however, need to tread with caution – as you always run the risk of being liquidated if the trade goes against you.

Customer Support

When it comes to customer support, LonghornFX excels. Crucially, you have three support channels that you can choose from  -all of which operate on a 24/7 basis.

This includes a live chat facility. When we tested it out ourselves, we were connected to a live agent in just a few seconds.

You can also request a call back if you prefer to speak with somebody over the phone. Alternatively, you can send the team an email if you are not looking for an instant response.

Easy Signup
Easy Signup

LonghornFX Review: The Verdict?

In summary, LonghornFX is an online trading platform well-worth considering. You will have access to heaps of asset classes, and fees are low and consistent at just $6 per lot.

You will also benefit from tight spreads and the ability to apply leverage of up to 1:500.

Best of all, the broker allows you to trade via trusted platform MT4. This can be accessed online, via software, or through an iOS/Android app. The only chink in the armour is that LonghornFX is not licensed. On the flip side, this does give the platform the remit to offer you huge leverage limits – which otherwise wouldn’t be possible with a regulated broker.

Visit LongHornFX




Bank of Korea Head Says Cryptocurrencies Have No Intrinsic Value

Republished by Plato



The head of the Bank of Korea, Lee Ju-yeol, said that Bitcoin and other major cryptocurrencies lack intrinsic value. However, he believes that all assets will continue to experience significant price fluctuations.

Price Surge Because of Pro-BTC Institutional Investors?

The chief of the Bank of Korea said cryptocurrencies, including Bitcoin, do not possess inherent value. In a recent news report, Lee Ju-yeol blasted the highly volatile nature of the digital asset industry.

“There is no intrinsic value in crypto assets,” said BOK Gov. Lee Ju-yeol at a parliamentary session on 23 February.

The news report quoted lawmakers asking BOK’s chief if the recent surge in the price of BTC is temporary or not.

“It is very difficult to predict the price, but its price will be extremely volatile,” Ju-yeol added.

The bank executive has also said that the recent rally in Bitcoin’s price followed by other significant digital assets may be led by multiple factors. Among them, Elon Musk’s Tesla – investing $1.5 billion. He highlighted that the latest price surge might be a continuation of institutional investors using Bitcoin as a hedge.

Ju-yeol also emphasized that BOK shouldn’t buy bonds issued by the country’s government directly. Otherwise, this would raise worries about fiscal stability and undermine the central bank’s trust. 

Bitcoin Volatility Bringing Some More Hard Times For Investors?

The primary cryptocurrency’s volatility has been causing quite some troubles for both retail and institutional investors. This particular character of the digital assets has been a stumbling point for many, thus, causing some hesitations in whether to allocate funds in it or not.

BTC’s price managed to initiate another notable surge during the last couple of months, marking a consequent all-time high. Just a few days ago, it skyrocketed above $58,000, dragging other altcoins like Ethereum behind it for a while.

However, almost immediately after its upgrowth, BTC suffered a significant correction, settling unsteadily around $50K as per the time of the writing. As a result, the cryptocurrency market capitalization lost more than $300 billion in two days.

Interestingly, JPMorgan strategists said recently that Bitcoin’s illiquidity could bring more problems. Analysts from the US multinational banking institution argued that BTC is in a liquidity shortage, warning investors that the primary crypto-asset could suffer another price drop.

Featured Image Courtesy of WSJ. 

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Cross-chain bridges and DeFi integration are pushing these 3 altcoins higher

Republished by Plato



The cryptocurrency market is showing signs of progress following a multiday sell-off that saw the total market capitalization drop by more than $400 billion as Bitcoin’s (BTC) price briefly fell below $46,000. 

While the majority of altcoins have entered a consolidation phase that includes a retest of underlying support levels, several projects have started to regain lost ground after new developments reignited investors’ optimism.


Cardano’s ADA started the year with a bullish spark that saw its price increase 624% from $0.165 on Jan. 2 to a high of $1.20 on Feb. 20. This week’s sharp correction pulled the price to a swing low at $0.80, but it is clear that traders bought the dip.

ADA/USDT 4-hour chart. Source: TradingView

Since hitting a swing low at $0.80, ADA’s price rallied 30% to $1.05 following the news that community members at Venus Protocol had approved a proposal to bring ADA to the Venus mainnet. 

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ADA on Feb. 14, prior to the recent price rise.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

Cointelegraph Markets Pro – VORTECS™ Score (green) vs. ADA price

As the chart above shows, Binance introduced staking on Feb 10., and the VORTECS™ score for ADA rose to a high at 88 on Feb. 14


On Feb. 9 the Matic network rebranded to become “Polygon” as part of a strategic change to become a layer-two aggregator. The move was done in response to the growing momentum of Polkadot and a desire to build an interoperability protocol on top of Ethereum.

High gas fees on the Ethereum network have increased the need for layer-two solutions, and Polygon has emerged as one of the top solutions with projects like Aavegochi and Golem already operating on the protocol.

The rebrand helped lift the price of MATIC from $0.07 on Feb. 9 to an all-time high of $0.197 on Feb. 20 before the market downturn pushed it back down to $0.111 on Feb. 23.

MATIC/USDT 4-hour chart. Source: TradingView

Since that time the MATIC has recovered 62% to trade at $0.16 as the community and total value locked on Polygon continue to grow.


Stacks (STX) was the breakout star on Feb. 24 as the layer-one blockchain solution designed to bring smart contracts and decentralized applications to Bitcoin saw a record $166 million in trading volume that elevated STX to a new all-time high of $1.17.

STX/USDT 4-hour chart. Source: TradingView

Excitement for the project comes after the Feb. 23 announcement that STX holders can now participate in delegated staking from the Stacks wallet, allowing them to earn BTC rewards.

According to data from Cointelegraph Markets Pro, market conditions for STX have been favorable for some time.

VORTECS™ Score (green) vs. STX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for STX hit a high of 87 on Feb. 23, around 30 hours before the price increased 75% to its new high of $1.17.

Interoperability, cross-bridge solutions and staking have emerged as drivers of growth that help incentivize investors to hold their tokens and also attract new participants to old and new blockchain projects.

Following the recent market downturn, it’s clear that projects that offer tokenholders multiple ways to earn a yield and operate across separate blockchain networks are beginning to stand out from the rest of the field.


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Former London Stock Exchange Group CEO Urges UK Government to Explore Cryptocurrencies

Republished by Plato



The former CEO of the London Stock Exchange Group, Xavier Rolet, has advised the UK government to look into cryptocurrencies and SPACs to minimize the adverse impact of Brexit. In a recent report, Rolet claimed that the UK has trailed behind other countries in both aspects.

The UK Should Turn To Crypto And SPACs?

Born in France, Rolet is a businessman and the Chief Executive Officer of the London-based credit-focused asset management firm CQS. Before assuming this position, though, he served as the CEO of the London Stock Exchange Group and was named as one of the 100 best CEOs in the world in 2017 by the Harvard Business Review.

In a report cited by Bloomberg, Rolet touched upon the potential consequences to the UK economy following the withdrawal from the European Union and the European Atomic Energy Community, better known as Brexit.

The executive believes that the UK has two viable options to consider if it wants to minimize the risks and help the nation flourish.

In the first one, he urged the government to “promptly consider the SPAC revolution.” Also referred to as “blank check companies,” these special purpose acquisition companies (SPAC) operate as shell corporations listed on a stock exchange with the idea of buying out a private company, thus making it public. Ultimately, this strategy eliminates the need to go through a traditional initial public offering (IPO).

While the US has seen significant adoption in the past year with a 10x increase in the raised funds compared to 2019’s results, the UK regulators have halted their progress on the London markets.

Rolet’s second advice involved digital assets as he noted that “all relevant UK government agencies should be resourced to thoroughly understand cryptocurrencies.”

With proper regulations, the crypto ecosystem could “place London and the UK at the center of a reputable and safe financial market.”

The UK’s Regulatory Approach To Cryptocurrencies

While UK’s regulators have hindered SPACs’ progress within the country, the nation’s financial watchdog, the FCA, has also been rather harsh against the cryptocurrency industry.

As of the start of this year, the Financial Conduct Authority banned crypto derivatives and exchange-traded notes (ETNs) to retail customers.

Additionally, the watchdog has issued several warnings to investors that they could lose all their funds if allocated in digital assets.

The regulator also announced that all UK-based digital asset businesses need to be registered with it but extended the deadline for applications to July 9th, 2021.

Featured Image Courtesy of TheGuardian

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