Investigating or researching brokers is one of the most important steps to protect your money from scammers. That is why we have written the Horseforex Review after long research and found the broker to be a potential scam.
Broker Website – https://www.horseforex.com/
Address – NA
Warned By – Comisión Nacional del Mercado de Valores (Spain)
Horseforex Domain Status
|Date Registered||September 22, 2016|
|Domain Age||6 years, 26 days, 18 hours, 32 minutes, 43 seconds|
Horseforex Review: Introduction
Horseforex is an online trading platform that claims to be a forex and CFD broker. It is owned by Horse Group HK Ltd and the website is found at https://www.horseforex.com/. They can be contacted by email at email@example.com. In addition, there is no other information provided by the company, like contact address, contact number, and regulated license. Even the broker website is not in use or is suspended. Read a complete Horseforex Review to know more about this broker.
Horseforex Review: Regulation
On this broker’s website, four firms that purport to operate in four distinct countries—Hong Kong, Dubai, New Zealand, and Mauritius—are named. Except for Hong Kong, it really asserts that it is regulated in every one of them. But according to our research, Horse Forex is neither licensed nor permitted to operate as a forex broker in either of these nations, with the exception of the offshore zone.
A public warning has been issued against this broker from the authority of Spain – ComisiónNacionaldel Mercado de Valores (CNMV). The authority warns people not to invest money with this broker because it might be involved in scam activity.
How does the Horseforex scam work?
Scam brokers will approach investors through social media or online ads and ask them to make an initial deposit in exchange for a guarantee that they will increase the original investment. Once you have invested money with them, they continue to demand more cash until you won’t understand that this broker is a swindler. With fraudulent brokers, you are unable to withdraw your money, and if you attempt to contact them for fund recovery, they want further payment. But nothing can be back with the scam brokers.
Horseforex Review: Minimum Deposit and Leverages
Starting with a small deposit that you can afford to lose is always ideal. Customers of Horse Forex can open a live account with a $50 deposit and take advantage of the high leverage of up to 1:400.
Remember that using leverage ratios so high is extremely risky, particularly for novice traders. Before you lose everything, be sure you understand how leverage works because trading on margin is dangerous.
Horseforex Review: Trading Assets
Horseforex claims to offer several assets for trade. It includes many currency pairs and a large selection of CFDs – on indices, commodities, stocks, and the most popular cryptocurrencies.
Finding a trustworthy broker is made easier by reading customer feedback. On the other websites, Horseforex received negative comments and low ratings. After reading this review and all the other positive and negative Horseforex review, we came to the conclusion that this broker might be a scammer. A list of scam brokers 2022 is provided by the Frauds Reports Online community, which can assist you in avoiding such brokers.
Horseforex Review: Conclusion
You can submit a chargeback for fund recovery if you’ve fallen victim to Horseforex scams, cryptocurrency scams, forex scams, investment scams, romance scams, gift-card scams, or any other scams. Fill out a complaint form on our website. We will provide a free consultation and guide you in the process of fund recovery.
Also, if you are a victim of a forex scam, binary scam, cryptocurrency scam, romance scam, tax scam, pension scam, or any other scam, file a complaint against Horseforex and tell us your case. Let us help you in fund recovery!
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Also, check New Zealand’s FMA blacklisted brokers here.