LHFX offers competitive trading conditions with low minimum deposits, high leverage up to 1:500, and MT4 platform support. However, despite its claimed FSCA regulation in South Africa and FSC license in Mauritius, WikiFX flags its South African license as a suspected clone, urging traders to exercise caution.
What Is LHFX and What Services Does It Provide?
LHFX, formerly LonghornFX, is a forex and CFD broker operating since 2021 with dual registration in Mauritius and South Africa. It offers trading in forex, cryptocurrencies, stocks, commodities, and indices through the MetaTrader 4 platform. LHFX provides a simplified account structure with a focus on a Standard ECN account, alongside demo and swap-free Islamic accounts. Its accessible minimum deposit starts at $10, allowing traders with modest capital to participate.
How Is LHFX Regulated and Why Are There Concerns?
LHFX holds two regulatory licenses: one from the Financial Services Commission (FSC) of Mauritius (License No. GB23202204) and another from the Financial Sector Conduct Authority (FSCA) of South Africa (License No. 52816). However, WikiFX and various industry sources classify LHFX’s FSCA license as a suspected clone, suggesting that the license or registration details may be misused or falsified. This raises significant concerns about the authenticity of regulatory compliance and investor protections. Traders should closely verify broker credentials via trusted platforms like WikiFX before investing.
Which Trading Platforms and Instruments Does LHFX Support?
LHFX supports the popular MetaTrader 4 platform, widely respected for its reliability and expert advisor (EA) compatibility. The broker provides trading across more than 150 assets, including forex pairs, cryptocurrencies, stocks, commodities, and indices. The ECN model provides direct market liquidity access, tight spreads starting from 0.0 pips, and commission fees around $6 per lot, suitable for scalping and day trading strategies.
Why Is LHFX Popular Among Traders and What Are Its Drawbacks?
LHFX is popular primarily for:
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Low barriers to entry with $10 minimum deposit
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High leverage of up to 1:500 on forex and metals
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24/7 customer support across multiple channels
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MT4 copy trading and flexible trading styles
However, drawbacks include:
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Limited trading platforms (only MT4 supported)
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Absence of essential research tools and economic calendars
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Exclusive use of cryptocurrency for deposits and withdrawals with automatic fiat conversion, complicating traditional funding
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Concerns over genuine regulatory status due to suspected licensing issues
How Competitive Are LHFX’s Trading Conditions?
| Feature | LHFX Details |
| Minimum Deposit | $10 |
| Leverage | Up to 1:500 (forex and metals) |
| Spreads | From 0.0 pips |
| Commissions | $6 per lot |
| Platforms | MetaTrader 4 |
| Account Types | Standard ECN, Demo, Islamic |
| Deposit/Withdrawal | Crypto-based, no fiat bank transfers |
These conditions are competitive within offshore ECN brokers but lack fiat banking convenience.
When and Where Is LHFX Registered?
LHFX is registered in Mauritius and South Africa but operates primarily as an offshore broker. Mauritius registration (FSC) and South African Financial Service Provider (FSP) status enhance jurisdictional credibility but do not fully mitigate regulatory risks given the suspected license cloning flags issued by WikiFX.
What Are LHFX’s Customer Support and Educational Features?
The broker provides 24/7 customer support via live chat, email, and call-back requests, receiving positive marks for responsiveness. However, it offers limited educational resources and market research tools, which may challenge beginner traders who need in-depth market insights and trading calculators.
Should Traders Trust LHFX According to WikiFX?
WikiFX urges caution due to the suspicious cloning of the FSCA license. While LHFX exhibits features typical of legitimate brokers, the cloud over its regulatory compliance means traders risk limited legal protection. Seeking information from WikiFX and conducting further independent verification is strongly recommended before depositing funds.
Forex Expert Views
“LHFX presents attractive trading conditions, especially for high-leverage forex traders, supported by the familiar MT4 environment. However, the suspected cloning of its South African license represents a critical warning sign. Traders must emphasize regulatory transparency and verify licensing through platforms like WikiFX to avoid falling victim to potential fraud. Offshore brokers require increased diligence and cautious capital allocation.” — Forex Market Analyst
Conclusion: Is LHFX a Safe Broker to Trade With?
LHFX delivers competitive ECN trading with a user-friendly setup, making it accessible to traders worldwide. Nevertheless, regulatory ambiguities, particularly the suspected clone issue with the FSCA license, significantly undermine its trustworthiness. Traders should balance the appeal of low costs and high leverage with potential risks, prioritizing full license verification on WikiFX and preferring brokers with clear, reputable regulation for safer trading experiences.
FAQs
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Is LHFX regulated?
LHFX holds licenses in Mauritius and South Africa, but WikiFX flags the South African license as a suspected clone, raising doubts about real regulation.
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Which platform does LHFX support?
LHFX exclusively supports the MetaTrader 4 platform.
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What is the minimum deposit for trading with LHFX?
The minimum deposit is $10.
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Does LHFX accept fiat currency deposits?
No; deposits and withdrawals are processed via cryptocurrency, with fiat currencies converted automatically.
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How can I verify the authenticity of brokers like LHFX?
Use platforms like WikiFX for real-time broker license checks and user risk alerts.