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LonghornFX Review | Security, Apps & Features | Invezz

With LonghornFX you can trade a large number of commodities, securities, currencies, and cryptocurrencies, and withdraw your profits in the form of Bitcoin. LonghornFX allows users to open either a MetaTrader4 (MT4) live trading account or an MT4 demo account to carry out their trades, or familiarise themselves with the software before starting trading.

What can I do with Longhorn FX?

With LonghornFX you can trade a large number of commodities, securities, currencies, and cryptocurrencies, and withdraw your profits in the form of Bitcoin. LonghornFX allows users to open either a MetaTrader4 (MT4) live trading account or an MT4 demo account to carry out their trades, or familiarise themselves with the software before starting trading. 

It is also important to note that traders can open as many live trading and demo accounts as they want with Bitcoin, Euro, Great Britain pound, and the United States dollar as the baseline currencies. Client funds are held in each user’s respective LonghornFX account and are only moved to the trading section when the trader opens a position.

The MT4 platform allows you to trade on your PC, android, iOS, or WebTrader. With these possibilities, you can check your trades from any place at any time and always have access to the platform in case you need to open or close a position.

Which assets can I trade?

According to LonghornFX, clients have access to over 183 financial instruments they can trade. Here is a quick summary of the assets you can trade on LonghornFX:

  • Currencies. Traders can buy or sell 7 major currencies, 21 FX crosses, or 27 FX exotics, giving a total of 55 currency pairs.
  • Cryptocurrencies. LonghornFX has 35 cryptocurrency pairs that clients can trade.
  • Indices: The trading platform has 11 indices including US30, AUS200, SPX500, and UK100.
  • Metals. Traders can choose from platinum (XPT), gold (XAU), silver (XAG), up to a total of 5 metal pairs.
  • Futures. Currently LonghornFX offers only US dollar futures.
  • Commodities. UKOil and USOil are the two commodities available on LonghornFX at present.
  • Stocks. Clients can buy or sell up to 64 individual stocks including top equities like Apple, Google, Amazon, Netflix and many others on the platform.

Payment methods

Deposit methods and costs

LonghornFX accepts deposits in Bitcoin, and users can also fund their accounts using fiat currency via bank transfer. Users can fund their account with a credit or debit card, however they will be directed to third party platforms where they can purchase Bitcoin if selecting the option and the deposit still occurs in Bitcoin. Bitcoin deposits are charged a flat network fee of 0.0005BTC. This equates to about $5, but its exact value depends on the current price of Bitcoin.

LonghornFX withdrawal methods and costs

LonghornFX offers one main withdrawal method, which is Bitcoin. You then select the wallet you would like to withdraw from – USD, BTC, GBP, or EUR. The broker charges no fees for withdrawals but the amount leaving your wallet may be different from the amount you receive because of Bitcoin price fluctuations and a network fee of 0.0005 BTC charged to maintain the blockchain.

What devices can I use LonghornFX on?

Users can access LonghornFX through its web trading platform, and also by downloading MetaTrader 4 software. These options are available on a variety of devices, and traders can use LonghornFX on:

  • Desktop computers
  • Laptop computers
  • Smartphones (iOS and Android)

How easy is it to use LonghornFX?

The LonghornFX website is very simple to navigate, with a variety of helpful and easy to access FAQs. In order to make trades using the platform, you will need to download MetaTrader 4 software from LonghornFX’s website, and it’s clearly visible where to click in order to download the necessary software. 

The process of making trades on LonghornFX will require familiarity with using trading software, so if you’re new to trading it is recommended that you open a demo account on the platform so you can learn the ropes without risking your money.

LonghornFX demo account

If you want to learn about LonghornFX and get a feel for trading without staking any of your capital, you can sign up for a demo account. The account is free to open and has all the features you’ll find on the live trading account, only you’re not trading with real money. You can use the demo account to refine your trading strategy before committing your funds in a real trading account.

LonghornFX allows you to set your virtual cash balance when creating the demo account and you can trade for as long as you want. However, the account will be terminated after 3 weeks of inactivity. 

Countries supported

When opening a LonghornFX account, you’ll see that it supports traders from lots of countries around the globe – from Europe to the Americas, and across Asia and Africa. However, you may need to confirm with the customer support team if people from your country are allowed to sign up for an account, as LonghornFX doesn’t make it clear if the service is available in every country.

Regulation

LonghornFX is not regulated by any major government body, with the company being registered offshore in Saint Vincent and the Grenadines. This means users should be careful when depositing funds with the broker, as there is no relevant body you can appeal to if you need to make a complaint.

Account verification

In order to open and verify your account on LonghornFX you need to provide:

  • Your name
  • Your email address
  • Your phone number

You do not need to provide any ID documentation, and you are only required to verify your phone number and email address.

LonghornFX customer support

LonghornFX’s customer support team is available round the clock. You can contact them through any of the following methods.

  • Live chat. Live chat is available 24/7 and the response is usually very fast.
  • Request a callback. If you prefer to talk to a live person, you can request a call back by filling in your details on the website. There is no phone number listed on the website for you to call LonghornFX.
  • Submit a support ticket. You can email the customer support desk and a member of their dedicated team will get back to you as soon as possible.

From experience, queries are resolved immediately, and the customer is asked for their feedback on the quality of service received. 

The stockbroker

First impression

LonghornFX’s website is simple and easy to navigate, and clearly signposts where users need to go in order to download the necessary software. When using LonghornFX, trades take place on MetaTrader4 (MT4) platform. Once clients sign up for an account, they can proceed to start a free download of any of the LonghornFX’s trading platforms which are:

  • MT4 for Windows
  • Web Trader
  • MT4 for Android
  • MT4 for iOS 

On the trading platform, users have tools that enable them to make new orders and check their trading history. You’ll also have access to tools for technical analysis such as bar charts, candlestick and line charts, and over 50 technical and fundamental indicators spanning a range of markets. 

On your trading terminal, you’ll see two modes for executing orders:

  • Market execution. This is to execute an order at the current market conditions.
  • Pending order. This is to process an order when a specified price is reached.

LonghornFX also gives its clients access to stop loss and trailing stop risk management options, so you can protect yourself from sudden market movements against your positions.

What currency pairs can be traded?

Traders have access to 55 currency pairs on LonghornFX. These include:

  • AUD/USD
  • EUR/USD
  • GBP/USD
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY

In addition to this, LonghornFX also supports the trading of 35 cryptocurrency pairs, among which are:

  • BTC/USD
  • ETC/USD
  • NEO/BTC
  • XRP/BIT
  • BCH/BTC
  • ETH/BTC
  • NEO/USD
  • XRP/USD
  • BCH/USD
  • ETH/USD
  • OMB/BIT
  • ZEC/BTC
  • BIT/USD
  • ETP/BIT
  • OMG/USD
  • ZEC/USD
  • DASH/BTC
  • ETP/USD
  • QTUM/BIT
  • mET/USD

Are there fees for trading?

Yes, when trading using LonghornFX a variety of charges apply. The main fee charged by LonghornFX is that for each lot traded, the broker takes a $6/£6 /€6 commission. This can be dependent on the size of the trade if smaller amounts are involved. For instance, a 0.10 lot also known as a micro lot will attract a commission of $0.60 (10% of the fee for 1 lot).

The other fees to be aware of are when you are making bitcoin deposits and withdrawals, you’ll be charged a fee of 0.0005BTC. This is a fee applied by the blockchain to cover minings costs, and it is fixed for all transactions whether it is $10 or $10,000 worth of Bitcoin.

What are the spreads?

The difference between the bid and ask prices also known as the spread is usually measured in PIPs when trading forex pairs. It’s not possible to give the exact spreads available on the platform as LonghornFX has a floating live spread approach to displaying the bid and ask prices. Clients get to enjoy competitive spreads in times of low market volatility but when the market calmness transits into high volatility, the spreads become high.

Can I trade assets with leverage on LonghornFX?

Yes. Clients opening LonghornFX trading accounts are asked to choose the amount of leverage they prefer to trade with, ranging from 1:1 to 1:500. This level of leverage is only available for trading forex and commodities, however. For all the other tradable assets on LonghornFX there are the following limits:

  • Stocks (e.g. EBAY): 1:20
  • Cryptocurrencies (e.g. BTCUSD): 1:100
  • Energies (e.g. USOil): 1:100
  • Indices (e.g. US30): 1:200

Trading with leverage is risky, and we advise only experienced traders use this option. New traders can be enticed with ideas that they can open up positions worth up to 500 times what they stake – but remember while this will generate money quickly if the market moves in your favour, it will also compound your losses if that doesn’t happen. You can quickly find yourself losing all your capital if you trade with too much leverage and things don’t go to plan.

What are the margins required?

The margins when trading on LonghornFX depend on what you’re trading, as the platform has different leverage available for different markets. Here’s a quick summary:

  • Forex: 0.2%
  • Commodities: 0.2%
  • Stocks: 5%
  • Cryptocurrencies: 1%
  • Energies: 0.5%
  • Indices: 0.5%

Can I open short and long positions?

Yes, on LonghornFX you can open both short and long positions. A trader is ‘going long’ if they believe that the price of an asset or currency will increase, or equally they can ‘go short’ if they believe the market is going to fall – in which case they close their position and look to reinvest their money once the price has dropped.

Are there withdrawal and deposit limits?

Deposits

For you to begin trading, you have to make a deposit either using Bitcoin, wire transfer, credit or debit card (if you use these latter options, however, you are directed to a website where they can purchase Bitcoin instantly). The minimum deposit allowed on the LonghornFX platform is $10 worth of Bitcoin, and there is no maximum deposit stated by the platform.

Withdrawals

There are no started withdrawal limits on LonghornFX. Withdrawal requests are reviewed and processed the same day they are submitted. Having said that, there is no guarantee that they will land in your wallet the same day. How soon your withdrawals are credited depends on the speed of the blockchain and the number of confirmations. Expect withdrawals to take up to 6 hours to arrive.

Trade size limits

The minimum position size LonghornFX allows is 0.01 lots while the maximum trade size is 1,000 lots. 

Security 

LonghornFX requires users to set a secure password, and to provide email and phone verification required opening an account. The platform also encourages its traders to activate the two-factor authentication (2FA) feature for added security. LonghornFX claims to hold clients’ funds in a cold storage system to keep them out of reach of hackers. 

Education and trading tools

Apart from the FAQ section on its website, which is informative, LonghornFX has limited educational resources. The site has a section with a couple of articles explaining basic things like deposits and withdrawals, spreads, Bitcoin, leverage, pips and a few more, but it’s far from extensive. Being one of the newest entrants into the online brokerage space, there is hope that the team is still building its resource base.

Summary of LonghornFX’s broker

Overall, LonghornFX’s platform allows users a quick and easy way to download MetaTrader 4 and place trades on a wide variety of securities, commodities, currencies, and cryptocurrencies. It is a relatively new platform, and so doesn’t yet offer too much in the way of educational resources, but seems to be expanding this aspect of the site.

Here are a few things to be aware of when using LonghornFX’s platform:

  • One thing to be very careful of when using LonghornFX is not to go too far into the red. LonghornFX states that the client or trader is responsible for negative equity balances on their trading account. This means that the broker doesn’t offer negative balance protection as a risk protection measure. Instead, the client will be required to pay the full amount immediately.
  • When the equity amount on the client’s trading account falls to less than 30% of the margin, the broker reserves the right to close any open positions even without consulting the client. 
  • Residents of countries such as Canada, the United States, Algeria, Iraq, Iran, Cuba, Myanmar, Ecuador, and North Korea may not have full access to some of the features on the LonghornFX platform. This is because of jurisdictional requirements for prior registration of security issues.
  • The broker is not regulated but observes the conditions and procedures outlined in anti-money laundering and counter-terrorism financing (AML/CTF) regulations. This includes account verifications, trading and leverage limits on certain assets. 

Conclusion

LonghornFX may be a relatively new online broker but it has a variety of features that make it attractive to traders, from its use of Bitcoin as a payment and withdrawal method, to its incorporation of MT4 trading software. Clients enjoy fee-free deposits (aside from blockchain fees), same-day withdrawals, live support 24/7 backed by a dedicated customer service team, and competitive spreads.

Inexperienced traders also have the option of signing up for a demo account to learn and hone their trading strategies before opening a live trading account. This means you can learn the ropes without risking any of your capital.

The areas of improvement that LonghornFX needs to focus on include strengthening its risk management framework, increasing withdrawal options, adding more assets (especially in energies, metals and commodities), and work towards being regulated and available in more countries around the world.

While the demo accounts are incredibly helpful, LonghornFX also needs to beef up its training resources and flesh out its FAQ section with more information to help users who aren’t already familiar with trading. LonghornFX is a good place to trade for those who already know their way around, and especially for those who want the option of depositing funds in Bitcoin.

How to set up an account


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Online Trading platform SIRIX

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SIRIX|  Online Trading platform SIRIX Review

[yasr_overall_rating]

Everyone that has been trading for some time has most likely traded on the metatrader 4 trading platform of metaquotes. This has been the standard in the industry for the last couple of years.

 

But more and more brokers Like CMSTrader and UBCFX are offering alternatives that might suite certain traders even better then the MT4 as they have a lower learning curve and are designed more intuitive.
One of these platforms is the Sirix Trading Platform.
The Sirix Trading platform is

Sirix, a fully packed trading software with numerous with numerous options and special indicators that are designed by the software company to present you with a personalized trading experience.

Positive features and benefits of the Sirix Trading Platform

Ease of Use: if you are a trader you will be able to access your Sirix trading platform and see all your trades and other information at any place and time. The Web-trader is a fully function trading platform that does not require you to do any download. This has more or less become the norm of the industry and if you for example take the Sirix Trading platform of LegacyFX you will be able to have a download desktop version, a web version and a mobile version.
these in general all have the same functionalities but of course is the mobile version a bit more limited due to the smaller screen real estate.

Indicators and Options: this platform provides build I more than 50 Indicators which for most traders is over kill but it does allow most traders to find the right indications to match their trading behavior and trading strategies.

The Charting Package that Sirix provides is easy enough to understand and gives you as a trader all the information you need, there are different time frames that in combination with the ability to display lines and annotations make this platform feel like it is designed for you.

Social Trading: Sirix has a full feature social trading module that allows you to watch the trades of others which might give you new insights and trading ideas. If you come a across a trader that is particular successful you are able to copy that traders’ trades and create a full automated copy trader,
You as the trader are still in charge and you have the option to trade with lesser or higher amount then the trader you are copying.
In order to use the social trading, you have to open an account with their social trading community.

This can only be done by using a nickname an order to protect you identity. When you are part of the community then you are part of all the brokers that offer this feature to their traders. Meaning you are able to follow a trader that is trading with 12trader while you are trading with account from UBCFX or any other broker that has Sirix.

Now I have to mention that if you look to only trade social then the Etoro Platform is still a better solution s this system is built only for social trading and they have pretty much defined the concept.

 


Sirix Crypto Trading Platform

this is the latest platform that was launched by Leverate.

it focuses , just like the name says more n the trading of cryptocurrencies.

as this company understands that this is the direction where the market is going and more and more traders are asking for trading in Bitcoin or ripple trading to just name a few they have added this feature to the Sirix Platform , this means that every broker that has the sirix trading platform is in theory able to offer trading in cryptocurrencies.

in addition they have launched also a platform that is only trading cryptocurrencies but that will be another review as i have yet to see and play with this system


Conclusion
The Software company Leverate has created a very user friendly platform with inbuilt social trading and news functionality. When they launched this platform in 2012 it was already a good platform but today it rivals the best of them easily.

The Intuitive aspect of this platform is one of the key features and makes the threshold of trading lower for newbies. There is also a fastn amount of Sirix Tutorials out there that will help even the total beginners with the Sirix Platform

Now of the traders that need bots and more indicators then there sis still nothing that beats the metatrader 4 trading platform but for many traders Sirix offers more then enough and makes the trading experience easier then with MT4.
More and more brokers are offering this alongside their other trading platform so you as a trader will come across more and more brokers that have the Sirix Trading platform in their arsenal.

These are some of the Best Broker for trading on Sirix

UBCFX
LegacyFX
12Trader
CMStrader

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Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:

 

 On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events.

The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today.

Key speakers:[yasr_overall_rating]

One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts.

Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings.

President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology.

See the full list of Key speakers here

Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries.

Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference!

Blockchain & Bitcoin Conference Stockholm

Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm.

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Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

The Blockchain & Bitcoin Conference Stockholm is a highly anticipated crypto event in Sweden.  and is being held for the second time.

after the success of the first one they look to make this event a annual one.  since the crypto industry is going more and more out of the shadows and becomes more mainstream you will find that the quality of people involved also grows.

this is clearly displayed in the extensive list of speakers at this event.

Event goals:

bringing together the international business community in order to share their experience of integrating blockchain and cryptocurrencies; discussing blockchain industry issues and finding ways to solve them; encouraging a balanced growth of the cryptocurrency market.

Conference topics: 

  • blockchain in various sectors: energy industry, real property, newsmaking etc.
  • Legal regulation of the blockchain sector
  • token models and their application
  • ICO regulation.

Speakers:

the list of world-renowned blockchain experts, including government officials, foreign investors, entrepreneurs, lawyers, and developers is impressive and should get this event the notice it deserves.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

investors, business people, lawyers, startup founders, and those aiming to launch a token sale.

why should not miss this Event :

:to receive full information with case studies about the blockchain application, to discover how to comply with the legal norms in the blockchain industry, to find business partners, and to enhance your brand awareness.

Prices of the Event

Standard ticket  – 240 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

Student ticket – 121 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

A valid student ID should be presented at check-in. No refunds on the day of the event.

Buy Your ticket Now


Blockchain & Bitcoin Conference Stockholm is a part of the series of Blockchain World Events held in 25 countries. The organizer is Smile-Expo International Company.

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