Longhorn-primefx Review – Why Can’t you Trust this Broker?

Longhorn-primefx Review

A simple Google search is all it takes for you to find the sheer number of online brokerages that are offering their services to traders all over the globe. Their numbers seem to have multiplied in the last couple of decades, owing to the popularity of trading amongst the masses.

But, this has also attracted the attention of bad characters in the market, due to which scam companies are also prevalent, as you will come to know in this Longhorn-primefx review. This should not stop you from making your own mark in the world of trading, especially when there are tons of opportunities to explore.

It just means that you have to be a tad more cautious than you would be otherwise because these fraudsters have been around for a while, which means that they are familiar with the best tricks in the book to scam people.

You definitely do not want to be the next victim and see all your hard-earned money go down the drain, so it is best to take everything you find with a grain of salt. It is easy to be impressed where the internet is concerned, but here first impressions can turn out to be quite deceptive as well.

Thus, they should definitely not be your last, which means you should remain a skeptic until you have verified all the details about a broker. Finding a trustworthy broker can make a world of difference in your trading experience as well as your success and you will notice this when you make the right decision.

The wrong one will likely lead you down the road to losses. One of the brokers you will come across in your search is Longhorn-primefx that appears to fit the bill when you go through its website.

The presentation seems to be just right and many people will consider signing up with Longhorn-primefx straight away. However, you cannot invest your money based on your first look at its offerings, not until you have verified them. This can only happen when you take a closer look, so let’s get started;

Check for license

The first thing you need to do with any online brokerage is to check their license and regulatory status. Choosing a company that does not have a license means that you are putting yourself at the risk of a scam and this is something you want to avoid at all costs.

A licensed broker is one you can trust because they are monitored by a regulatory authority and compliant with laws and policies that are meant for your safety and protection. If you do your research, you will know that scam brokers are typically unregulated and unlicensed, so it makes sense that you should not choose one that falls in this category.

This is exactly where Longhorn-primefx also fits in because when you go through the broker’s website, you will discover that it seems to be completely anonymous.

Sure, it has talked about its spreads and other details, but you will find no mention of an address, a license, or any other essential information. This means that you do not even know the name of the company that owns and operates this broker, which makes them extremely dangerous.

If something was to go wrong, you would have no way of tracing Longhorn-primefx because you don’t know who is behind it, or where it is based. As there is no mention of any license, it means the platform is not regulated, which means they do not answer to anyone and can do whatever they want.

You do not want to risk your investment with any such platform that does not even bother to get a license, or share vital information with you.

Go over the trading platform

To be able to execute your trades in the market, you need access to a trading platform and this is what an online broker has to provide. It is the primary purpose they serve and Longhorn-primefx claims to offer its clients the MetaTrader 5.

If you do some research into the best trading platform in the market, you will find MT5 at the top of the list because it is highly professional and equipped with powerful technology and trading tools.

This should make Longhorn-primefx a good choice for anyone, but the fact that it is lying about the trading platform should alert you straight away.

When you look through its website for a download link for the MT5, you are going to come up empty-handed. In fact, you will not find a functional trading platform at all. Instead, there are some charts provided that track markets, but do not give you the option of trading.

It tells you that Longhorn-primefx is just carrying out a ruse to fool people into signing up with them.

Look at the trading conditions

The trading conditions should also be a priority because they affect your profits, but the fact that Longhorn-primefx does not have a trading platform available kind of makes them moot. When you cannot trade at all, why would the conditions matter?

Even if you wanted to check, you will not find any such details provided at Longhorn-primefx, which only drives the point home that the company is not trustworthy at all. In addition, it asks for a minimum deposit of $500, which is twice the standard amount.

Don’t forget the payment methods

The payment methods that you are offered at Longhorn-primefx will determine if you can file for a chargeback and get your money back if you want. Even though different types of methods are advertised for deposit purposes, such as wire transfer, debit and credit cards and Bitcoin, but only one is available; bitcoins.

This is not surprising because it will help Longhorn-primefx keep your funds as crypto deposits are irreversible and also anonymous, which means they cannot be traced at all.

Conclusion

Since it is an unregulated broker that does not even offer a trading platform, it is easy to conclude that Longhorn-primefx is not a trustworthy broker.