Horse Forex Review, horseforex review.

Horseforex review


To avoid being scammed by a con artist’s scheme, it is recommended to first take a look at what other people are saying about the company you want to invest in.

Free forex bonuses


Horse Forex Review, horseforex review.


Horse Forex Review, horseforex review.


Horse Forex Review, horseforex review.

When they feel that you are not able to invest any more money into the scam, they will simply suspend your account and you probably won’t hear from them any longer.


Horse forex review


Overview


Table of contents


Website


Company


Address


Phone


Email


Regulation


Warning


Rating


Horse forex details


Horse forex is an online trading broker owned by horse group HK ltd & ausinvest mauritus ltd and located at N/A.


They can be contacted by phone number at N/A or by email at support@horseforex.Com.


Their website can be found at : aus.Top horseforex.Com


Traders opinion


To avoid being scammed by a con artist’s scheme, it is recommended to first take a look at what other people are saying about the company you want to invest in.


After doing some research on social medias (facebook, twitter, instagram…) and trading forums, we found out that some users are unhappy about their experience with horse forex and wrote mixed reviews about it.
It seems like horse forex is not a reliable broker and you should take that into consideration before investing.


If you don’t want to be the next victim of a fraudulent broker operating with a fake company, always do your own research first.


Is horse forex legit or a scam?


This is the most important thing you need to know about a broker before using it. Is horse forex regulated ? Is it an offshore company ?


Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complain about it unless they are licensed by a serious regulator such as:



  • The cyprus securities and exchange commission (cysec)

  • The financial conduct authority (FCA)

  • The australian securities and investments commission (ASIC)



An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.


You should definitely avoid any unregulated or offshore trading compagnies!


How online trading scams work


The common used strategy by fraudsters is to first display some winning trades on your account to give you the impression that you are quickly and effortlessly making money. This allow them to gain some trust and confidence from you.


Their next step is usually asking you to invest more money or get some friends and family to invest in order to get the maximum funds they can from you.


When they feel that you are not able to invest any more money into the scam, they will simply suspend your account and you probably won’t hear from them any longer.


Many scam firms fraudulently claim to be based in a regulated juridiction using fake addresses and regulation licences in order to look truthfull in the eyes of future clients.



Horsegroup review - is horsegroup.Top scam or good forex broker?



Horsegroup says to be offering nearly 200 tradable assets with leverage as high as 1:400, attractive spreads, two account types and a choice between the industry standard metatrader4 and metatrader5 platforms.


This could have been a fine offer, was it not for the small detail that what we have here is a clone website, illegally using the logo and the corporate details of a legit new zealand company - horse group limited, in an apparent attempt to scam investors. That has not gone unnoticed by the regulatory authorities both in new zealand and italy, who have flagged horsegroup.Top as a scam website.


Horsegroup advantages:


Metatrader4 available


Metatrader4 is available for download on the horsegroup website and this should be counted as an advantages. This is the most popular trading platform in the industry, preferred by professional and beginner traders alike. It features well over 50 in – build market indicators and trading robots, created especially to facilitate your algorithmic trading sessions. And because MT4 also comes with a fine pack of advanced charting tools, here is a list of brokers supporting the platform as well:


Clone website, blacklisted by FMA and CONSOB


Horsegroup.Top or horseforex, as they also refer to themselves, say to be associated with several companies, incorporated in various jurisdictions like hong kong, australia, new zealand, mauritius and dubai, as well as to have licenses from various regulatory authorities, including the australian securities and investments commission, and the financial regulators in new zealand, dubai and mauritius. You can check the screenshot below:


Unfortunately, non of that turned out to be true. The website is illegally using the logo and the name of a legit company - horse group limited, which is registered as a financial service providers in new zealand. Horse group limited however has nothing to do with our website here - horsegroup.Top. The legit website of horse group limited is horseforex.Com.


We call such elaborate scams – clone websites. You should be aware that clone websites might be rather convincing, so you should always double check any information a broker might offer you by comparing it in the registers of the relevant financial regulator.


Here, the financial markets authority (FMA), as well as CONSOB - the financial regulator in italy, have blacklisted horsegroup.Top as a clone website. You can take a look at the CONSOB warning on the screenshot below:


Terms and conditions missing


And this is yet another indication that something is wrong. When tried to open the broker’s terms and conditions – the key legal document that defines your contractual relations, the link would not open. Still, if you sign up for a trading account you will have to agree with the horsegroup terms, so basically you will have to agree with something you have not read.


As tested with a demo account the benchmark EURUSD spread floated above 1,8 pips and this is somewhat higher than the spreads traders would usually find attractive. In order to be attractive spreads should start below 1,5 pips with a standard account and no trading commission taken. In any case, here you may check as well our list of brokers offering tighter spreads:


Horsegroup.Top is a fine example of a clone website – a scam trap especially designed to lure traders and investors by illegally using the corporate and license details of legit businesses. Once again, make sure to always double check any information relating to the broker’s license, and better trade only with proven and properly regulated brokers like the once you may find in the registers of the financial conduct authority (FCA) in the UK, the cyprus securities and exchange commission (cysec) and ASIC in australia – the three most popular regulators in the industry.


And because with a UK regulated broker your funds will even be protected by a special client compensation fund, covering the first 85 000 of your trading capital, here you may also check our list of FCA regulated brokers:


Latest news about horsegroup


FXTM a regulated forex broker (regulated by cysec, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.


XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.


FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.


Fxpro is a broker we are particularly keen on: it’s regulated in the UK, offers metatrader 4 (MT4) and ctrader – where the spreads start at 0 pips, level II pricing and full market depth. And the best part? With fxpro you get negative balance protection.


Fxchoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.


Hotforex is a EU regulated broker, offering wide variety of trading accounts, including auto, social and zero spread accounts. The minimum intial deposit for a micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.



Horseforex.Com review: is horse forex legit or A scam?


Horse forex review: this is the name of a forex broker whose location is not clear. We are guessing that the broker is located either in dubai, mauritius or new zealand. Is horseforex.Com a legit broker or a scam?


The parent company of this brokerage is horse group limited. It has a new zealand location and a license there as well. Horse forex is also found to be operating from mauritius under the alias: ausinvest ltd. A dubai license is also mentioned on the page.


HAVE YOU BEEN SCAMMED? If you have lost your money to online scammers, there is an opportunity you could get back your money.


Click HERE to start the recovery process


Horse Forex Review, horseforex review.


This broker claims to offer clients the best trading instruments and conditions. Their customer service runs 5 days a week and they offer webinars and other educational tools.


Horse forex trading platform


It is mentioned that horse forex trading software is operated on a metatrader platform available to all their clients.


Legit brokers are known to offer at least the popular metatrader 4 trading platform.


This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, linus, windows, ios and android.


Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.


Trading instruments offered to traders includes: 60+ global currency pairs, 5 cryptocurrencies, cfds on precious metals, stocks, commodities (cocoa, sugar, wheat, and more), and major indices.


A leverage of 1:400 is offered as a maximum and the spreads are said to begin from 0.0 pips.


Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.


Deposit and withdrawal methods on horse forex


Deposits and withdrawals maybe carried out with this broker via credit cards or international transfer. We could not find information on this.


It does not provide much options for payment and is not a good sign.


This is because standard and legit brokers make deposit and withdrawals available via visa, mastercard and wire transfer. Many offer e-wallets like: skrill, neteller, unionpay, fasapay, and so on.


A minimum deposit of $50 is required to start trading with this broker and no information is given on the charges and fees on withdrawals.


This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.


Is horse forex licensed?


Although, horse group ltd, is licensed in some locations we found that it is not registered as a forex broker. In new zealand, it is registered as a “creditor under a credit contract” and as an “investment dealer” in mauritius.


This means that the license does not place it under the same strict rules as regulated forex brokers. In essence, fund misappropriation may not be under any authority.


Support


Customers can contact the customer care representative by filling an online message request form.


Conclusion


Horse forex is not a regulated forex broker and it has an offshore branch. The website publishes misleading information regarding this, making it difficult to trust this broker.


Trading conditions however seem good but may not necessarily be true on live accounts. Its deposit minimum is also affordable.


COMPARE WITH A TRUSTED BROKER


Fortrade


Fortrade is a UK-based broker with address at michelin house, 81 fulham road london, SW3 6RD, united kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(financial conduct authority) in the UK well as ASIC in australia which makes client funds safe. They accept traders worldwide.. Visit their official website


Horse Forex Review, horseforex review.
DID YOU KNOW!!
Most autotrading softwares or robots claiming to turn you into a millionaire overnight are SCAMS. If you are in need of a legitimate software or robot that can help you trade profitably, see our recommendation HERE

First favourite: the best horse racing systems that work


first favoirte Horse Racing Systems That Work


Horse races are one of the most difficult sports in the world, predicting a race is almost impossible. But there is a system capable of providing predictions, results, and tips for horse racing betting fans. The first favourite is the most profitable horse racing system providing best horse handicapping service since the year 2013 & is a true and reliable provider of horse racing tips.


Deep analysis of horse racing


The starting point for this system is the informative quality it possesses, mel (creator of the system) is dedicated to investigating everything necessary about a particular horse race, everything about the horse and who will ride it in the race. It is very important to know every detail of the race and the horse, says mel, is the fundamental piece to make a winning bet.


Mel gee is an expert, a man dedicated to offering his followers a way to make money without risk with his horse racing tips. The knowledge of this man is reflected in each of the tips that the system shares with the subscribers. It is not necessary to have luck, what is needed is intelligence and patience to wait for the best horse races. Mel takes his time to check each race, he knows where to look for the best information and makes sure his sources are reliable.


The horse races that mel chooses, as he himself says, are the most lucrative horse races. The picks have the best odds and mel’s selections are based on the information compiled and executed. According to the advice of mel gee, it is very important to choose horse races that serve to double the profits in a single race, horse picks with odds superior to 1.85+ per race are the best bet. Although it is not easy to locate the best horses, the secret of the first favourite horse racing handicapping system is to interpret the data in a different way than the common, in order to obtain racing tips that are profitable enough during the session.


What does the system offer?


Winning tips for horse racing: it is obvious that first favorite horse racing betting system focus on finding the best horse racing selection methods in each race. Subscribers will receive tips directly from mel gee (system creator) for use in upcoming horse races. The tips are the same used by the creator of the system to make his personal horse racing bets.


The objective of first favorite horse racing system is to double the profits, just as mel gee did when creating the system, is a clear and direct objective, the subscribers will have their investment insured with the tips, and each month they can expect gains higher than 57% of the bankroll. The system has the function of converting horse racing into a gold mine for subscribers.


Not a magic system, the perfect system does not exist, but thanks to the hard work of mel gee, he has made this system for horse racing as one of the best options to take advantage of a sport that has several ways to generate money for the bettors around the world. It is not about making money quickly with one or two races, but about winning bets with the direct advice of a horse racing betting expert like mel. The system is not for any type of punter, it is for punters who are willing to learn everything about secret horse racing tips and listen attentively what an expert like mel gee has to say.


The secret of the system


First favourite horse racing systems


" data-medium-file="https://i0.Wp.Com/sportsbettingsystemreviews.Com/wp-content/uploads/2017/10/mel-390x390.Jpg?Fit=300%2C300&ssl=1" data-large-file="https://i0.Wp.Com/sportsbettingsystemreviews.Com/wp-content/uploads/2017/10/mel-390x390.Jpg?Fit=390%2C390&ssl=1" loading="lazy" src="https://i0.Wp.Com/sportsbettingsystemreviews.Com/wp-content/uploads/2017/10/mel-390x390.Jpg?Resize=390%2C390&ssl=1" alt="first favourite horse racing systems" width="390" height="390" data-recalc-dims="1" />this system is neither automated nor dependent on advanced horse racing software. It is a system that is completely made by the hand of an expert man with more than 30 years of experience in horse racing. There is nothing more certain than trusting someone who knows what he does thanks to his experience and knowledge.


The tips of the system can be checked since 2013, all the statistics of the gains are verifiable, it’s the same personal bets of mel gee. In addition to the past results, evidence of how mel gee’s ROI and fortune have been increasing. Thanks to the first favorite easy horse racing system which is available on the firstfavourite.Com website.


Mel gee was able to create a strong system that has long-term success, and that can be verified in the profit statistics during the first months of the system. To get an idea of the secret of this system, imagine having to choose between 10-20 horse races every day and you must find the best horses, search among so many numbers and options with a horse that has the possibility to offer an advantage over others. Mel and his system found the secret of how to find that horse which made him a profitable horse racing tipster. It took him more than 20 years of close involvement with the horse racing betting and finally, he was able to achieve it.


Benefits of this horse racing system


Expert tips


All selections are made by the creator of the system, which ensures that they are winning tips and perfectly supported by statistics, information and others. All horses are used by mel gee to make his personal bets, just like any other punter.


Advice


You can get advice and ask any questions to mel gee, the creator of the system will answer you via email anytime. This is an advantage that no other system in the market offers, communicating directly with the creator of the system helps to resolve any doubts before making the bets or starting.


Security


The system is armored against failures, the tips go through a complete protocol to be chosen, a protocol created and perfected by mel during more than two decades of knowledge in horse racing.


How much does the system cost


The system has a monthly cost of £47 (not including taxes), is a fixed monthly fee that the subscriber can cancel at any time. The system includes full access to horse racing tips and information. Mel gee can be contacted at any time for questions and doubts about the system via email, he will personally answer emails and give advice to subscribers.


The price does not seem to be very large for all the benefits that are obtained with the first favourite horse racing betting system, it is a bargain. Bettors can be sure that they will earn enough money to cover the cost of subscribing to the monthly service. Mel gee is an expert, and like all experts, he ensures that people who buy the system subscription, will get a high percentage of profits in the next upcoming weeks.



Horsegroup review - is horsegroup.Top scam or good forex broker?



Horsegroup says to be offering nearly 200 tradable assets with leverage as high as 1:400, attractive spreads, two account types and a choice between the industry standard metatrader4 and metatrader5 platforms.


This could have been a fine offer, was it not for the small detail that what we have here is a clone website, illegally using the logo and the corporate details of a legit new zealand company - horse group limited, in an apparent attempt to scam investors. That has not gone unnoticed by the regulatory authorities both in new zealand and italy, who have flagged horsegroup.Top as a scam website.


Horsegroup advantages:


Metatrader4 available


Metatrader4 is available for download on the horsegroup website and this should be counted as an advantages. This is the most popular trading platform in the industry, preferred by professional and beginner traders alike. It features well over 50 in – build market indicators and trading robots, created especially to facilitate your algorithmic trading sessions. And because MT4 also comes with a fine pack of advanced charting tools, here is a list of brokers supporting the platform as well:


Clone website, blacklisted by FMA and CONSOB


Horsegroup.Top or horseforex, as they also refer to themselves, say to be associated with several companies, incorporated in various jurisdictions like hong kong, australia, new zealand, mauritius and dubai, as well as to have licenses from various regulatory authorities, including the australian securities and investments commission, and the financial regulators in new zealand, dubai and mauritius. You can check the screenshot below:


Unfortunately, non of that turned out to be true. The website is illegally using the logo and the name of a legit company - horse group limited, which is registered as a financial service providers in new zealand. Horse group limited however has nothing to do with our website here - horsegroup.Top. The legit website of horse group limited is horseforex.Com.


We call such elaborate scams – clone websites. You should be aware that clone websites might be rather convincing, so you should always double check any information a broker might offer you by comparing it in the registers of the relevant financial regulator.


Here, the financial markets authority (FMA), as well as CONSOB - the financial regulator in italy, have blacklisted horsegroup.Top as a clone website. You can take a look at the CONSOB warning on the screenshot below:


Terms and conditions missing


And this is yet another indication that something is wrong. When tried to open the broker’s terms and conditions – the key legal document that defines your contractual relations, the link would not open. Still, if you sign up for a trading account you will have to agree with the horsegroup terms, so basically you will have to agree with something you have not read.


As tested with a demo account the benchmark EURUSD spread floated above 1,8 pips and this is somewhat higher than the spreads traders would usually find attractive. In order to be attractive spreads should start below 1,5 pips with a standard account and no trading commission taken. In any case, here you may check as well our list of brokers offering tighter spreads:


Horsegroup.Top is a fine example of a clone website – a scam trap especially designed to lure traders and investors by illegally using the corporate and license details of legit businesses. Once again, make sure to always double check any information relating to the broker’s license, and better trade only with proven and properly regulated brokers like the once you may find in the registers of the financial conduct authority (FCA) in the UK, the cyprus securities and exchange commission (cysec) and ASIC in australia – the three most popular regulators in the industry.


And because with a UK regulated broker your funds will even be protected by a special client compensation fund, covering the first 85 000 of your trading capital, here you may also check our list of FCA regulated brokers:


Latest news about horsegroup


FXTM a regulated forex broker (regulated by cysec, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.


XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.


FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.


Fxpro is a broker we are particularly keen on: it’s regulated in the UK, offers metatrader 4 (MT4) and ctrader – where the spreads start at 0 pips, level II pricing and full market depth. And the best part? With fxpro you get negative balance protection.


Fxchoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.


Hotforex is a EU regulated broker, offering wide variety of trading accounts, including auto, social and zero spread accounts. The minimum intial deposit for a micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.



Horseforex review


Informação de regulamentação


Licença de forex a retalho


FSC regulamentação offshore


Licença financeira comum


Visão geral


Nome completo da empresa:


Email de atendimento ao cliente:


Número de telefone do atendimento ao cliente:


Wikifx APP!


Aplicativo da forex consulta da corretora global regulada!


Alerta de risco do wikifx


Última detecção: 2021.02.02 risco: 3 item



  • Estados unidos NFA (número de referência :0535400)O estado de regulação é anormal. O estado oficial do regulamento é não autorizado. Esteja alerta!

  • Com estados unidos NFA (Nº de referência: licença de regulamentação de 0535400) national futures association-UNFX , verifica que é operação fora de alcance. Por favor, esteja alerta!

  • O regulamento de maurício FSC com o numéro de referência C118023277 pertence ao regulamento offshore. Por favor, esteja alerta!


Verificação wikifx


Avaliação do site oficial


Wikifx cloud dados


Wikipesquisa


Proporção do link externo


Linguagem de publicidade


The financial services commission (maurício FSC)


The financial services commission, mauritius (the 'FSC') is the integrated regulator for the non-bank financial services sector and global business. Established in 2001, the FSC is mandated under the financial services act 2007 and has as enabling legislations the securities act 2005, the insurance act 2005 and the private pension schemes act 2012 to license, regulate, monitor and supervise the conduct of business activities in these sectors.


Licença de forex a retalho


Distrito ou país de regulamentação:


C118023277


HORSE FINANCIAL LTD


Endereço de e-mail da instituição licenciada :


Site da instituição licenciada :


62 CYBERCITY, 5TH FLOOR THE CORE, EBENE 72201


Número de telefone da instituição licenciada :


Documento de regulamentação :


National futures association (estados unidos NFA)


National futures association (NFA) is the industrywide, self-regulatory organization for the U.S. Derivatives industry, providing innovative and effective regulatory programs. Designated by the CFTC as a registered futures association, NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure members meet their regulatory responsibilities.


Licença financeira comum


Distrito ou país de regulamentação:


Estados unidos


HORSE GROUP CO LIMITED


Endereço de e-mail da instituição licenciada :


Site da instituição licenciada :


Número de telefone da instituição licenciada :



Horseforex review


Licenses


Common financial service license


NFA general registration


Overview


Customer service email address:


Customer service phone number:


Wikifx APP!


Global forex broker regulatory inquiry APP!


Wikifx verification


Wikifx cloud data


Wikiresearch


External chain proportion


The financial services commission (FSC)


The financial services commission, mauritius (the 'FSC') is the integrated regulator for the non-bank financial services sector and global business. Established in 2001, the FSC is mandated under the financial services act 2007 and has as enabling legislations the securities act 2005, the insurance act 2005 and the private pension schemes act 2012 to license, regulate, monitor and supervise the conduct of business activities in these sectors.


Retail forex license


Regulated in country/area


C118023277


HORSE FINANCIAL LTD


Email address of licensed institution :


Website of licensed institution :


Address of licensed institution :


62 CYBERCITY, 5TH FLOOR THE CORE, EBENE 72201


Phone number of licensed institution :


Licensed institution certified documents :


National futures association (NFA)


National futures association (NFA) is the industrywide, self-regulatory organization for the U.S. Derivatives industry, providing innovative and effective regulatory programs. Designated by the CFTC as a registered futures association, NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure members meet their regulatory responsibilities.


Common financial service license


Regulated in country/area


United states


HORSE GROUP CO LIMITED


Email address of licensed institution :


Website of licensed institution :


Address of licensed institution :


Phone number of licensed institution :


Licensed institution certified documents :


Most visited countries/areas


The data are from WIKI research 2021.02.02 updated


This broker's score is relatively low.


Please choose wisely! Please avoid unnecessary loss


Horseforex · choose VR


Wikifx only provides the legal URL of the platform published by the regulatory website.


Wikifx will not disclose your personal information to third parties.


In order to prevent users from being spoofed by phishing websites, fake urls or domain name hijackings, wikifx doesn't provide the content though this app.


The use of any service by the client through the official website access channel provided by wikifx is a personal behavior. Please ensure that you've undergone sufficient preparation and risk management before use.



Horseforex: login, minimum deposit, withdrawal time?



Warning! Horseforex is an offshore company! Your deposit may be at risk.



Can horseforex be taken seriously, or is this broker doomed to be ridiculed and forgotten? Read on to find out.


Horseforex’s regulation claims are quite a mess. We have attached a snip of the whole ordeal, and shall see if they are to be trusted.


Horse Forex Review, horseforex review.


Horseforex is allegedly part of horse group HK ltd. Horse group HK ltd has “acquired ausinvest mauritius ltd” which is regulated by the mauritius financial services commission. We checked with the commission and found no results meaning that neither ausinvest mauritius ltd nor horseforex are regulated in mauritius.


Next is horse group new zealand ltd which should be holding a FSP license which is issued by the financial market authority. We checked the FMA’s online database of registered firms and found zero results, so the broker is not regulated in new zealand.


Lastly, horse group DMCC ltd is a holder of a DMCC license in dubai. This one turned out to be actually true:


Horse Forex Review, horseforex review.

However, in dubai brokers must be regulated by the dubai financial services authority (DFSA), for them to operate within legal frames. Needless to say horse group DMCC was not found in the public register of the regulator agency.


Without any regulations from any of the agencies that horseforex should be regulated by in order to provide legitimate services, we can safely state that horseforex is UNLICENSED and poses a risk to anyone who invest in it.


We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or cysec. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (cysec).


The leverage is maxed at 1:400. The EUR/USD spread from the STP demo account is 1.9 pips which isn’t really favorable to traders.


Trading assets should be forex pairs, commodities, indices, crypton, and stocks. The platform gave us equities and futures on top of these.


The default language of the broker is english. The other language is chinese.


HORSEFOREX LOGIN


The broker has included both the MT4 and MT5


METATRADER 4/5


As a leading trading platform, MT4 has become a household name by offering some great features: micro lots, automated trading bots, 500 individual orders per account, VPS’s (virtual private servers), customizable trading indicators, and much more.


The metatrader 5 has continued to extend the legacy of MT4 with great success, however MT4 still reigns as number one. With that out of the way, MT5 can be considered a much more flawless and fluid trading terminal. With accelerated process times, the ability to trade in centralized markets, and the addition of new and more responsive indicators, and increased time frames, MT5 seems like the way to go.


The leverage is capped at 1:400, and the EUR/USD spread value we got from the demo STP account was 1.9 pips.


There are no mentions of spread commissions which is odd for the spread is quite low, and the ECN spread is said to be even lower than that at 0 pips.


The platforms can be used on smart phones, and as desktop traders.


HORSEFOREX MINIMUM DEPOSIT


The minimum deposit is according to the accounts section of the website is $50.


We could not read the depositing methods from the client dashboard because they were all written in chinese.


Horse Forex Review, horseforex review.


As we have, multiple times, concluded, this unregulated broker is not to be trusted, hence we advise against making any deposits whatsoever. If traders wish to trade in a safe and regulated environment, we recommend any broker that has a license from the FCA/cysec since these agencies are renowned for their strict law enforcing and protection of clients’ investments and personal information.


DON’T PROVIDE YOUR CREDIT CARD CVV CODE


Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.


DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER


It may or may not happen, but if an unregulated broker asks you to install anydesk or teamviewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.


HORSEFOREX WITHDRAWAL TIME AND FEES


The minimum withdrawal is not indicated.


The terms and conditions claim that the waiting time for requests to be processed by the broker is one days.


There is mention of undisclosed fees attached to withdrawals. This is typical for unregulated brokers to mention that there are fees, but to not clarify their value.


ADDITIONAL FEES AND TAXES


The dormant account fee is activated as one clause states within 6 months of inactivity,


Horse Forex Review, horseforex review.

While another clause states that the dormant account activate after one year:



Which one to trust is up to you to decide. The fee for dormant account is $20 for the first month of inactivity, and then $10 per month.


There is a handling fee which is common, but this broker has failed to give us a proper value of the charge.


We want to remind readers that many offshore brokers have no intentions of paying you back. Any effort to withdrawal your money will be unsuccessful. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.


ACCOUNT VERIFICATION


If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or cysec licensed broker where the law is integrated in every aspect of their operations.


HOW TO RECOVER


Filing for a chargeback is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.


Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.


Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.


The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!


BOTTOM LINE


Horseforex is one broker that should be left untamed. Let it roam for a bit as it slowly disappears from the forex landscape. There is nothing for you here.



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Risk disclosure:


Trading foreign exchange and contracts for difference (cfds) is highly speculative and may not be suitable for all investors. Prudent consideration should be given to your investment assets, anticipated benefits, financial conditions, relevant knowledge and experience in participating in the market environment. Traders should acknowledge and learn all risks related to margin trade to avoid overwhelming losses. All the contents available on this website shall not be interpreted as guidance contents for trading. Forex/CFD products are only suitable for clients who fully understand market risk. Information given on this website, as well as general advice, does not consider your investment objectives, financial position or needs. The contents of this website should not be construed as personal advice. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. Please ensure you read our risk disclosure and terms and conditions in full before opening an account with HORSEFOREX.


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Horseforex PTY limited belongs to a group company and has multi-national regulatory authority. Horseforex owns a mauritius company, which is regulated by the mauritius financial services commission (FSC: C118023277), and horseforex has a dubai DMCC license and a US NFA license (0535400).





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