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Contract reading

What LHFX legally published, but does not want you to read

Every clause below is published by LHFX itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: LHFX International Ltd.

sole discretionwithdrawalshidden feeabusive tradingcomplaint deadlineconflict disclosuredormancyfinal and bindingforum waiverjurisdiction

LHFX takes card and local bank deposits, and pays withdrawals in crypto only. Your account is with LHFX International Ltd in Anjouan, not the Mauritius or South Africa company its verify page names. The contract lets LHFX refuse any withdrawal at its sole discretion, and confiscate any balance it ties to trading it calls abusive. You get 30 days to complain, and LHFX makes the final decision.

Back to LHFX

Contract risk

Money at risk
7.8/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
24
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
13
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 24 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning13
Notice4

section 139 of 150is where the deepest clause sits, 93% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical14 working daysWithdrawal limit. Jump to the clause this comes from.Money left 14 business days after closure can go to charityCritical30 daysTime to complain. Jump to the clause this comes from.Complaints die after 30 days and LHFX has the last word5 daysFee you were not shown. Jump to the clause this comes from.Swap free accounts now pay a daily holding fee$10Fee on an unused account. Jump to the clause this comes from.A $10 monthly fee waits for the quiet account

What the documents say

24 clauses worth knowing about, worst first, each quoted from LHFX's own files

01

You contract with LHFX International Ltd. in Anjouan, Union of the Comoros, and Anjouan law governs your account. The security page sends you to the Mauritius and South Africa registers instead, and neither covers that company.

Why this matters

If something goes wrong, your claim is against a company in Anjouan, under Anjouan law, in Anjouan courts. The Mauritius and South African regulators licence two other LHFX companies, and your account is with neither.

Exhibit 1CriticalHarder than usualNew

This Agreement and any non-contractual obligations arising from or in connection with it will be governed by and construed in accordance with the laws of the Autonomous Island of Anjouan, Union of the Comoros.
Clause 18.5 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on Security & Official Channels page, under how to verify any brokerVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause 2.1Visit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026Your account sits with an Anjouan company, not the licensed ones (clause 18.5)Visit this page on the broker's siteDownload the full size image file

Buried at section 135 of 169 in the Client Agreement, 80% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC have to tell a retail client, before the account opens, which company they are contracting with, which regulator covers it, and whether a compensation scheme applies. LHFX names the company. It names no regulator for it and no compensation scheme.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

LHFX takes deposits by card and by local bank transfer, and pays withdrawals in crypto only. The Client Agreement says every approved withdrawal must go back to the source the deposit came from, and LHFX offers no card payouts.

Why this matters

Fund the account with a card and you need a crypto wallet to get your money out, plus proof the wallet is yours. Send to a wrong address and LHFX says the loss is yours.

Exhibit 2CriticalRarely seen

All approved withdrawals shall be paid to the original deposit source from which the deposit was received from the Client.
Clause 11.5 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on Deposits & Withdrawals page, under local deposit methodsVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause 11.5Visit this page on the broker's siteDownload the full size image file

Where it sits: section 74 of 169 in the Client Agreement, 44% of the way through.

Our readingA broker that takes card money and pays out only in crypto leaves no matching route back. The contract still requires the payout to go to the original deposit source, so on a card deposit the two rules cannot both be followed.

  • Worse together with Exhibit 4The only payout route LHFX offers is also the one it can refuse at its sole discretion.
03

Trading LHFX calls abusive lets it close your account and take the balance, not only the profit. The list covers arbitrage, latency arbitrage and hedging that exploits pricing errors. It then adds any other strategy taking unfair advantage of pricing discrepancies.

Why this matters

Your deposit sits inside the balance this clause reaches, so you can lose what you paid in as well as the profit. LHFX decides what counts as abusive, and the contract sets no cap and no appeal.

Exhibit 3CriticalHarder than usual

The Company reserves the right to close Client accounts and confiscate any balance involved in abusive trading practices.
Clause III.6 in Terms and Conditions
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on Promotions page, under the heading Your own funds are always yoursVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause III.6Visit this page on the broker's siteDownload the full size image file

Buried at section 119 of 150 in the Terms and Conditions, 79% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC may cancel a trade for proven market abuse, and still have to treat the client fairly and give reasons. This contract reaches the whole balance, defines abusive trading by example only, and makes LHFX the final judge.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 6LHFX decides your trading was abusive, and the same contract makes its own ruling on your complaint final.
04

LHFX can refuse a withdrawal in whole or in part at its sole discretion. The grounds it lists are examples, not a closed list. Another clause lets it suspend your withdrawals whenever that looks desirable to protect itself from liability.

Why this matters

No clause gives LHFX a deadline to pay you. Its withdrawals page advertises minutes, and nothing in the contract holds it to that.

Exhibit 4CriticalHarder than usual

We reserve the right, in our sole discretion, to refuse to process a withdrawal request in whole or in part, including but not limited to, where the Company suspects that the funds may be connected to illegal activity or activity that violates this Agreement, or where you do not have available funds.
Clause 11.4 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on Withdrawals page, automatic payout panelVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause III, Crypto Withdrawal PolicyVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026Withdrawals can be refused or frozen at LHFX's discretion (clause 11.4)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 73 of 169 in the Client Agreement, 43% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must pay a retail client's withdrawal promptly, and can hold it only on stated grounds such as a live money laundering check. This contract gives LHFX sole discretion, an open list of grounds and no deadline.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

05

Once your account is terminated you have 14 business days to take out what is left. After that, clause 13.3 lets LHFX hand your remaining money to a charity of its own choosing.

Why this matters

LHFX can terminate immediately and without notice if it decides you are in material breach, and it can suspend your withdrawals at the same time. The 14 business day clock still runs.

Exhibit 5CriticalHarder than usual14 working days

Any remaining assets in your Account after it is terminated must be withdrawn within 14 (fourteen) Business Days, failing which the Company may arrange, at its discretion, to have such assets transferred to a charitable organisation of its choice.
Clause 13.3 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026Money left 14 business days after closure can go to charity (clause 13.3)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 83 of 169 in the Client Agreement, 49% of the way through.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA may pay unclaimed client money to charity, but only after at least six years without contact, after real efforts to trace the client, and with an undertaking to pay the money back if the client returns. LHFX sets the period at 14 business days and gives no undertaking.

LHFX is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 4LHFX can hold your withdrawal under clause 15.5 while the 14 business day clock in clause 13.3 runs out.
06

A complaint sent more than 30 days after the event will not be considered. The clock runs from the event, not from the day you find out. LHFX also makes its own decision final and binding, and ignores any dispute under $10.

Why this matters

No ombudsman or outside scheme appears anywhere in the LHFX documents. Miss the 30 day window and the only forum left is a court in Anjouan.

Exhibit 6CriticalHarder than usual30 days

Complaints submitted more than 30 days after the event in question will not be considered.
Clause III.4 in Terms and Conditions
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026Complaints die after 30 days and LHFX has the last word (clause III.4)Visit this page on the broker's siteDownload the full size image file

Buried at section 109 of 150 in the Terms and Conditions, 73% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), FSCA (South Africa)

Firms licensed by the FCA, CySEC or the FSCA must handle a retail complaint under a published procedure and point the client to an independent ombudsman whose decision binds the firm. LHFX sets a 30 day cut off, publishes no procedure, and makes its own decision final.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

LHFX is the other side of your trade, whatever the ECN page says

Clause 12.3 of the LHFX Client Agreement says it acts as principal, and clause 8.1 says it may hold a material interest in a transaction executed for your account. Its execution page says LHFX does not trade against you and that your gains and losses have no effect on its position. The Conflict of Interest Policy clause 8.1 points to covers staff gifts and outside jobs, and never mentions the firm's own position.

Principal dealing2 clauses flagged

The Client Agreement says LHFX acts as principal, which makes it the other side of your trade. It adds that LHFX may hold a material interest in a transaction executed for your account. The execution page says LHFX does not trade against you.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

A principal profits when you lose. Acting as principal is ordinary for a CFD broker, and telling you the opposite on the way in is not.

Exhibit 7CriticalStandard wording

We will act as principal, and shall not be liable for, nor owe you any duty in connection with any action or omission of any third party, except to the extent such liability is required under the Applicable Laws and Regulations.
Clause 12.3 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026LHFX acts as principal while its ECN page denies any conflict (clause 12.3)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 77 of 169 in the Client Agreement, 46% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose that they are the counterparty to a client's trade, and must not describe that model in a way that misleads. LHFX discloses it in clause 12.3 and denies it on its execution page.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

LHFX points you to its Conflict of Interest Policy for how it handles conflicts fairly. That policy covers employees' personal interests, outside jobs and gifts. It never mentions the firm standing on the other side of your trade.

Why this matters

The one conflict that reaches your money, LHFX earning when you lose, is the one its policy does not deal with.

Exhibit 19NoticeHarder than usual

This policy applies to all employees, officers, directors, contractors, and agents of LHFX (collectively referred to as "Covered Persons").
Clause Scope in Conflict of Interest
Read from the broker's site on Open the reference
  • Same clause as Exhibit 7Clause 8.1 admits a material interest and sends you to a policy that addresses only staff conduct.

No restrictions on strategy, until the Terms list them

The LHFX execution page says scalping, hedging and expert advisors face no restrictions on strategy. Its Terms of Business ban arbitrage, latency arbitrage and hedging aimed at pricing errors, and let LHFX widen spreads or limit execution for anyone it suspects. Automated detection can suspend the account immediately.

Strategy limits1 clause flagged

The LHFX execution page says scalping, hedging and expert advisors face no restrictions on strategy. The Terms ban arbitrage, latency arbitrage and hedging aimed at pricing errors. They also let LHFX widen your spreads or limit your order execution on suspicion alone.

Why this matters

A strategy you chose LHFX for can become the reason your account is restricted. The Terms let automated detection suspend the account immediately.

Exhibit 13WarningHarder than usual

No restrictions on strategy. There is no dealing desk to limit how you trade.
Quoted in STP/ECN Execution at LHFX
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on STP/ECN Execution page, benefit 06, Scalping, Hedging & EAs AllowedVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause III.6Visit this page on the broker's siteDownload the full size image file

Buried at section 117 of 150 in the STP/ECN Execution at LHFX, 78% of the way through.

Zero fees is the promise, and the contract keeps the charges open

LHFX advertises zero fees on every deposit and withdrawal on four of its pages. Clause 13.3 then makes your balance withdrawable subject to any reasonable fees and transfer charges, and the Terms say some charges may only appear after your money has been transferred. A new section charges swap free accounts a fixed fee for every calendar day a position stays open past five days.

Cost disclosure3 clauses flagged

LHFX promises zero fees on every deposit and withdrawal, on its home, fees, payments and security pages. Clause 13.3 then makes your balance withdrawable subject to any reasonable fees and transfer charges, with no amount named.

Why this matters

A charge can land at the moment you take money out. The Terms also say some charges may only appear after your balance has been transferred, and nothing caps them.

Exhibit 8WarningHarder than usual

Any free balance in your Account may be withdrawn by you at any time, subject to any reasonable fees, transfer charges and/or tax withholding charges.
Clause 13.3 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on Security page, closing account opening panelVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause 13.3Visit this page on the broker's siteDownload the full size image file

Where it sits: section 83 of 169 in the Client Agreement, 49% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the total cost of a service before they trade, in cash terms. This contract leaves withdrawal charges at whatever LHFX later finds reasonable.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The September 2026 Terms added a daily charge on Islamic accounts. After a grace period of up to five calendar days, a fixed fee applies for each calendar day the position stays open. Weekends count.

Why this matters

The rates are not in the contract. LHFX publishes them on its fees page, where they run from 3% of position value a year on major pairs to 18% on crypto CFDs.

Exhibit 9WarningHarder than usual5 daysNew

Once the applicable grace period has expired, a fixed administration fee is charged for each calendar day the position remains open, calculated as the lots held multiplied by the published per-lot nightly charge for that instrument.
Clause V in Terms and Conditions
Read from the broker's site on Open the reference

Buried at section 139 of 150 in the Terms and Conditions, 93% of the way through.

What it costsAt the published top rate of 18% a year, holding a $10,000 crypto CFD position for a year costs $1,800 in holding fees.

Currency conversions happen at a market rate LHFX establishes itself, and the Terms say that rate will include any relevant fees. A deposit in another currency is converted at the applicable rate less any applicable fee.

Why this matters

No margin on the conversion is published anywhere. The Client Agreement offers eight base currencies and the payments page offers three, so a conversion is likely on the way in and on the way out.

Exhibit 14WarningHarder than usual

All currency conversions will be made at the market rate of conversion established by the Company and will include any relevant fees.
Clause III.1 in Terms and Conditions
Read from the broker's site on Open the reference

Where it sits: section 66 of 150 in the Terms and Conditions, 44% of the way through.

LHFX can take the whole balance, not just the profit

The LHFX Terms of Business let it close your account and confiscate any balance involved in what it calls abusive trading, a term its own list leaves open. Profits from arbitrage are reversed, and you may be billed for LHFX's losses as well. A manifest error clause lets it void any trade at a price it decides was wrong, and the set off clause reaches money across all your accounts.

In plain words

A manifest error means an obvious mistake by the broker.

Balance correction2 clauses flagged

A manifest error lets LHFX change the terms of your transaction or void it as if it never happened. Clause 16.3 treats any price materially different from the actual price as a manifest error.

Why this matters

A winning trade can be unwound afterwards, and LHFX decides what the actual price was. Clause 12.6 already warns that your fill may differ from the price you clicked.

Exhibit 15WarningHarder than usual

Or void the Transaction as if it had not taken place.
Clause 16.2 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of lhfx.com, taken on Oct 9, 2026The claim, on STP/ECN Execution page, benefit 02, No RequotesVisit this page on the broker's siteDownload the full size image file
Our own capture of lhfx.com, taken on Oct 9, 2026What the contract says, clause 12.6Visit this page on the broker's siteDownload the full size image file

Buried at section 121 of 169 in the Client Agreement, 72% of the way through.

LHFX can combine and apply any money it holds for you against anything you owe it, including liabilities that are not yet due. Its risk notice says you are liable for any deficit left after a position is closed.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You can end up owing LHFX more than you put in. Nothing in these documents gives you negative balance protection, which is a promise to write off a balance that falls below zero.

Exhibit 23WarningHarder than usual

we may, at our own discretion and without prior notice, offset, combine and consolidate and use or apply any moneys and Margin held by us or on our behalf, whether in respect of one particular Account or one particular Transaction or not, by way of set-off, retention or in or towards satisfaction of any of your liabilities including any contingent liabilities (whether or not due and payable) owed to us, so as to leave a net amount payable by you or to you.
Clause 6.1 in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 48 of 169 in the Client Agreement, 28% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, CySEC or ASIC must cap retail forex leverage at 1:30 and must give negative balance protection, so a loss can never exceed the money in the account. LHFX sets default leverage at 1:500 and makes you liable for the deficit.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A 100% deposit match with conditions nobody publishes

LHFX matches your first deposit up to $1,000 and unlocks it at $1 for every standard lot closed, which is 1,000 lots by its own arithmetic. The promotions page says the full conditions live in the Terms and Conditions, and those Terms contain no bonus rules at all. What happens to the bonus if you withdraw early or breach a rule is published nowhere.

Bonus mechanics1 clause flagged

LHFX matches your first deposit up to $1,000. It unlocks into withdrawable cash at $1 for every standard lot you close. The promotions page says the full conditions live in the Terms and Conditions, which carry no bonus rules at all.

Why this matters

Unlocking the whole $1,000 takes 1,000 standard lots, by LHFX's own figure. Nothing published says what happens to the bonus if you withdraw early, stop trading, or breach a rule.

Exhibit 11WarningHarder than usual1000

You convert the bonus to withdrawable cash at $1 per standard lot closed. A $1,000 bonus fully unlocks after 1,000 standard lots of trading volume.
Quoted in LHFX bonus codes for real traders
Read from the broker's site on Open the reference

What it costsAt the advertised $3 per side, trading the 1,000 standard lots that unlock a $1,000 bonus costs $6,000 in commission.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC cannot offer a retail CFD client a deposit bonus at all, and ESMA banned them across the EU. LHFX runs a 100% match and publishes no conditions for it.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Only applies after Exhibit 12The only published bonus rules sit on a web page LHFX can rewrite without telling you.

LHFX can change the Terms and says it will not tell you

The LHFX Terms and Conditions let it change, add or remove any part at its sole discretion, and say the client will not be notified when it happens. The Client Agreement promises the opposite, with 10 days between posting and effect. The registration form also accepts residents of all ten countries the Terms exclude.

Unilateral change2 clauses flagged

The Terms and Conditions let LHFX change, add or remove any part at its sole discretion, and say plainly that you will not be notified when it happens. Carrying on using the service counts as your acceptance.

Why this matters

The Client Agreement promises the opposite, with revised terms taking effect 10 days after posting. Two LHFX documents disagree on whether you get told at all.

Exhibit 12WarningHarder than usual10 days

The Company reserves the right to change, add or remove portions of these Terms & Conditions, at any time, in an exercise of its sole discretion. The Client will not be notified of any changes when they occur.
Clause I in Terms and Conditions
Read from the broker's site on Open the reference

Where it sits: section 7 of 150 in the Terms and Conditions, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client advance notice of a change that affects them. One LHFX document gives 10 days, and the other says you will not be told.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The Terms say they do not apply to residents of Algeria, Cuba, Ecuador, Iran, Iraq, Myanmar, North Korea, Japan, Canada and the United States. The registration form's country list includes all ten.

Why this matters

Open an account from one of those countries and you hold one governed by terms LHFX says do not cover you. Clause 11.4 also lets it refuse a withdrawal tied to activity that violates the agreement.

Exhibit 17WarningStandard wording10

Information detailed in the Terms & Conditions apply to all Clients excluding residents of Algeria, Cuba, Ecuador, the Islamic Republic of Iran, Iraq, Myanmar, North Korea, residents of countries with jurisdiction necessitating prior registration of issues of securities or information obligations of the issuer such as Japan and Canada, and residents of the United States (defined by 'Regulation S', executive action to the 'US Securities Act of 1933').
Clause I in Terms and Conditions
Read from the broker's site on Open the reference

Where it sits: section 5 of 150 in the Terms and Conditions, near the start.

You get 30 days to complain, and LHFX decides the outcome

LHFX will not consider a complaint sent more than 30 days after the event, and the clock runs from the event rather than from the day you notice. Its own decision is final and binding, no ombudsman appears in any LHFX document, and disputes under $10 are not considered at all. The Complaints Procedure the Client Agreement makes part of your agreement is not published anywhere.

Complaint window2 clauses flagged

The Client Agreement lists a Complaints Procedure among the documents that make up your agreement, and LHFX publishes no such document. The only complaint rules sit in the Terms of Business.

Why this matters

You cannot read a procedure you have already agreed to. The Terms also cap what LHFX can ever owe you at the balance in your account, less commissions.

Exhibit 18WarningHarder than usual

Complaints Procedure, which explains how you may complain about the service you receive and how your complaint will be handled
Clause Introduction in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 12 of 169 in the Client Agreement, near the start.

Contacting LHFX repeatedly about a matter it has finally determined is now a ground for suspension or termination. Clause 15.6 makes a breach of that rule an event of default. LHFX makes the final determination itself.

Why this matters

An event of default lets LHFX apply your money to whatever it says you owe. LHFX does protect your right to leave an honest review and to go to a regulator, in writing.

Exhibit 24WarningHarder than usualNew

contact us repeatedly or vexatiously in relation to a matter that has been finally determined under our dispute resolution process, or in a manner intended to obstruct our ability to serve other clients;
Clause 15.7.1 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 109 of 169 in the Client Agreement, 64% of the way through.

LHFX can ask for more documents at any time and block the account meanwhile

Clause 9.3 lets LHFX request further documents after your account opens and block it pending receipt, with no limit on what it asks for and no deadline. Unverified withdrawals are capped at $1,000 a day on its payments page, a limit no legal document mentions. LHFX also records website sessions automatically, including set actions on withdrawal pages.

Verification hold2 clauses flagged

LHFX can ask for further documents after your account opens, and block the account while it waits for them. No trade, deposit or withdrawal is processed until identity and address checks are finished.

Why this matters

Nothing in the contract limits what LHFX can ask for, or how long the block can last. Its payments page also caps unverified withdrawals at $1,000 a day, a limit no legal document mentions.

Exhibit 16WarningStandard wording$1000

We reserve the right to request further documentation after Account opening, and block your Account pending receipt of such documentation.
Clause 9.3 in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 66 of 169 in the Client Agreement, 39% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC may freeze an account for a money laundering check, and still have to handle the client's money fairly and say what is needed. This contract sets no limit on the documents or the time.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

LHFX records eligible website sessions automatically, using masked replays and set actions on withdrawal pages. Its own notice says automatic recording does not create a consent receipt.

Why this matters

You are recorded without being asked, and your identity documents are shared across all three LHFX companies. The AML policy says records are kept seven years and the KYC policy says five.

Exhibit 21NoticeStandard wording14 days

We automatically record eligible sessions to find and fix website problems, using masked replays on selected pages and predefined withdrawal actions.
Clause Session Recording in Privacy Policy
Read from the broker's site on Open the reference

Where it sits: section 6 of 106 in the Privacy Policy, near the start.

A $10 monthly fee waits for the quiet LHFX account

LHFX charges $10 a month once your account is 180 days old, has taken no deposit for 90 days and placed no trade for 30 days. It takes the money from a vault balance first, then from your trading accounts, and partial deductions are allowed. Its fees page describes the same trigger as an extended period without trading.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

LHFX charges $10 a month once your account is 180 days old, with no deposit for 90 days and no trade for 30 days. The fee comes out of a vault balance first, a term no LHFX document defines.

Why this matters

The fees page describes the trigger as an extended period without trading, and the Terms set that part of the test at 30 days. Partial deductions are allowed, so the charge keeps taking what is left.

Exhibit 10WarningHarder than usual$10

At LHFX, we reserve the right to apply inactivity fees to clients who meet the specified conditions outlined below. These fees, amounting to $10 USD, will be deducted at the first of each month.
Clause IV in Terms and Conditions
Read from the broker's site on Open the reference

Buried at section 126 of 150 in the Terms and Conditions, 84% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Vault balanceLHFX takes the $10 fee from your available vault balance first.IV
Trading accountsIf the vault holds nothing, it takes the fee from your trading accounts.IV
Partial deductionIf the funds fall short, it takes whatever is there.IV

The company holding your money is licensed in Anjouan, not Mauritius

Your LHFX account is opened with LHFX International Ltd., an Anjouan company, and the September 2026 Terms moved the governing law there from Mauritius. The LHFX security page tells you to look a broker up on its regulator's own register, and names the Mauritius and South African registers, neither of which covers that company. LHFX can also transfer the agreement to a third party without asking you.

Counterparty switch1 clause flagged

LHFX may assign, transfer or delegate its rights and obligations to any third party. You need its written consent to do the same.

Why this matters

Your counterparty can change without your agreement. The June version of these Terms put your account under Mauritius law, and the current one puts it under Anjouan law.

Exhibit 20NoticeStandard wording

You may not assign, transfer, or delegate any of your rights or obligations under this Agreement without our prior written consent. We may assign, transfer, or delegate any of our rights or obligations under this Agreement to any third party.
Clause 18.3 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 133 of 169 in the Client Agreement, 79% of the way through.

  • Worse together with Exhibit 1The company you contract with can be swapped, and the law governing your account has already moved once.

Three LHFX companies, and the one holding your money names no compensation scheme

Longhorn Ltd in Mauritius owns lhfx.com, LHFX SA (PTY) Ltd in South Africa operates the MetaTrader 5 platform, and LHFX International Ltd. in Anjouan holds your trading account. The AML policy that covers you names Mauritius law and the Mauritius regulator. No LHFX document names an investor compensation scheme, and its risk notice says you may lose some or all of your funds if LHFX becomes insolvent.

Group structure1 clause flagged

LHFX runs on three companies. Longhorn Ltd in Mauritius owns the website, LHFX SA (PTY) Ltd in South Africa operates the MT5 platform, and LHFX International Ltd. in Anjouan holds your account. No LHFX document names a compensation scheme.

Why this matters

The AML policy that covers you names Mauritius law and the Mauritius regulator, while your account sits with the Anjouan company. If LHFX fails, its own risk notice says you may lose some or all of your funds.

Exhibit 22NoticeHarder than usual

Counterparty Risk: You are exposed to the credit risk of the Company. If we become insolvent, you may lose some or all of your funds.
Clause Schedule 1 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 144 of 169 in the Client Agreement, 85% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must belong to an investor compensation scheme that pays out up to a set limit if the firm fails. No LHFX document names a scheme of any kind.

LHFX is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page telling you to check a broker on its regulator's register names two registers, and the company holding your account is on neither.

Said in public, in English

Every legitimate regulator (FSC Mauritius, FSCA South Africa, CySEC, FCA, ASIC, etc.) publishes a public register of authorised firms. Look up the broker's license number directly on the regulator's site, not on the broker's own marketing pages.

Security & Official Channels page, under how to verify any broker

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause 2.1

The Company holds an International Brokerage and Clearing House Licence (licence number L16408/LIL) issued by the Anjouan Offshore Finance Authority, which authorises it to conduct brokerage activities including the brokerage of foreign exchange, CFDs on shares, commodities and other regulated securities.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

02

LHFX advertises zero withdrawal fees, and the contract makes withdrawals subject to charges it never quantifies.

Said in public, in English

$10 minimum deposit. Zero deposit and withdrawal fees. Direct MetaQuotes MT5. FSC Mauritius and FSCA regulated.

Security page, closing account opening panel

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause 13.3

Any free balance in your Account may be withdrawn by you at any time, subject to any reasonable fees, transfer charges and/or tax withholding charges.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

03

The contract promises your money back by the method you paid with, and the payments page offers crypto only.

Said in public, in English

These are deposit methods. Withdrawals are paid in crypto, except in Vietnam, where you can also withdraw to your own bank account.

Deposits & Withdrawals page, under local deposit methods

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause 11.5

All approved withdrawals shall be paid to the original deposit source from which the deposit was received from the Client.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

04

The withdrawals page promises no pending verification, and the Terms make every crypto withdrawal subject to verification.

Said in public, in English

No human review, no queue, no "pending verification" emails.

Withdrawals page, automatic payout panel

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause III, Crypto Withdrawal Policy

All cryptocurrency withdrawals are subject to verification and may require additional documentation.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

05

LHFX says your own funds are always yours, and the Terms let it take the balance over trading it calls abusive.

Said in public, in English

Your deposit and any profit you make are withdrawable on the normal schedule. The unlock rule applies only to the bonus credit itself.

Promotions page, under the heading Your own funds are always yours

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause III.6

The Company reserves the right to close Client accounts and confiscate any balance involved in abusive trading practices.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

06

The execution page denies any conflict, and the Client Agreement makes LHFX the principal on the other side of your trade.

Said in public, in English

LHFX does not trade against you. Your gains and losses have no effect on the broker's position.

STP/ECN Execution page, benefit 04, No Conflict of Interest

In the contract · clause 12.3

We will act as principal, and shall not be liable for, nor owe you any duty in connection with any action or omission of any third party, except to the extent such liability is required under the Applicable Laws and Regulations.

07

LHFX advertises no restrictions on strategy, and its Terms list the strategies that can cost you the account.

Said in public, in English

No restrictions on strategy. There is no dealing desk to limit how you trade.

STP/ECN Execution page, benefit 06, Scalping, Hedging & EAs Allowed

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause III.6

The Client agrees not to engage in any form of abusive trading including but not limited to: arbitrage trading, latency arbitrage, exploitation of price feed delays, hedging strategies designed to exploit pricing errors, or any other trading strategy that takes unfair advantage of pricing discrepancies.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

08

The execution page says orders fill at the price you see, and the Client Agreement says your fill may differ from it.

Said in public, in English

Orders fill at the price you see. No dealing desk to reject or re-price your entry during volatility.

STP/ECN Execution page, benefit 02, No Requotes

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

In the contract · clause 12.6

your Order may, due to the latency of the system, be filled at a price that is different to the price at which you clicked on (both higher and lower). This type of execution is referred to as Asymmetric Slippage.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of lhfx.com

What changed quietly

This is our first reading of LHFX, so there is nothing to compare it against.

  • REWRITTENClause II.1 · January 2026 to September 2026

    The law governing your account moved from Mauritius to Anjouan, Union of the Comoros.

    The Terms of Use described hereunder are governed by and construed under the laws of the Autonomous Island of Anjouan, Union of the Comoros.

  • REWRITTENClause II.1 · January 2026 to September 2026

    Any claim you bring now has to go to a court in Anjouan instead of Mauritius.

    Agrees that the courts of Anjouan, Union of the Comoros maintain exclusive jurisdiction to determine any proceedings.

  • ADDEDClause III.1 · January 2026 to September 2026

    The Terms now name the Anjouan company as the party you contract with, which the January version did not.

    The Terms of Business, Inactivity Fees and Islamic Account Holding Fees sections form part of the Client Agreement between you and LHFX International Ltd.

  • ADDEDClause V · January 2026 to September 2026

    A daily holding fee on swap free accounts appeared for the first time in the September 2026 Terms.

    Once the grace period has expired, the fee applies for every calendar day the position remains open, weekends included.

  • ADDEDClause II.4 · January 2026 to September 2026

    Repeated contact about a matter LHFX has closed became a ground for suspending or terminating your account.

    Abusive, threatening, or harassing conduct towards Company staff, or repeated contact regarding a matter that has already been finally determined under the Company's dispute resolution process.

The documents this reading is based on

13 files, all published by LHFX. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording LHFX publishes.

How this reading was done

Every clause above was read out of a document LHFX publishes itself

This reading was published on .

Documents
12 of 13downloaded from the broker's site, and 12 read in full
Pages opened
29pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Position measured
22clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

LHFX International Ltd.

Your trading account is opened with LHFX International Ltd., an International Business Company in the Autonomous Island of Anjouan, Union of the Comoros, company number 16408, holding Anjouan Offshore Finance Authority licence L16408/LIL. Every LHFX policy repeats that client trading accounts are opened with it, and the signup page names it before you agree. Two other companies carry the licences the site advertises. Longhorn Ltd in Mauritius holds the FSC Investment Dealer licence and owns lhfx.com. LHFX SA (PTY) Ltd in South Africa holds FSCA licence FSP 52816 and operates the MetaTrader 5 platform. Neither of those two holds your account.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

LHFX publishes every legal document as a plain web page, each dated September 2026. Its holding fee schedule gives a rate per instrument with the yearly equivalent beside it. Clause 15.7.2 protects your right to leave an honest review, however critical, and to report a concern to a regulator. LHFX adds that it will never ask for an honest review to be removed, which is rare. Clause 17.2 does not try to exclude liability for LHFX's own negligence, and clause 13.1 says client money sits in a segregated account. Its security page also names the clone sites impersonating LHFX and explains how the advance fee withdrawal scam works.

Only the Terms and Conditions had an earlier copy to compare against, from January 2026. We cannot say when the clauses in the other nine documents first appeared. The deposit screen, the bonus code field and the vault balance named in the inactivity clause sit behind a login we did not open. LHFX publishes its site in English only, so there was no other language version to hold against the contract. The holding fee schedule is a live table dated 9 September 2026, and LHFX can change it. We read no complaints procedure, because LHFX does not publish one.

How to check any of this yourself

Every quote above links to the LHFX file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document LHFX publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge LHFX on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 9, 2026.

If you represent LHFX and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on LHFX. Whether its licence is real and current is a separate check on the broker profile.

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