Horse Forex (Horseforex.com) is a cruel CFDs, Crypto Currency and Forex broker scam to hit the lucrative trading world. HorseForex is another shoddy broker who is professing to offer the best trading tools. With claims of offering ultra-fast execution and 0.0 pip spreads, investors are signing up. After receiving email complaints from members, we decided to investigate this broker. Why are members crying foul? Read this detailed HORSE FOREX Review.
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In order to understand the depth of this scam, you need to know how much members are losing. Adriano has lost over 20,000 Euros after signing up with this broker. His story is touching as after depositing, he started trading and lost 5,000 Euros. When he asked to withdraw the remaining balance, his account was blocked. Now, he has no access to his funds and all communication has been shut down. Don’t become their next victim, read this honest Horse Forex review to fund out the truth.
Why are investors signing up with a rogue broker? Most investors don’t conduct a research before signing up with a broker. By reading reviews, users get a chance to know what to expect with a certain broker. Professional scam artists will clone a trading platform and lure investors to sign up and deposit funds. What are the tell signs you are dealing with a scam platform? Thanks to our years of professional trading, we know how to spot a scam a mile away. Get to know all tricks used by these scam artists.
Horse Group HK Ltd is the company which claims to own Horse Forex and is based in Mauritania. By their own admission, users are signing up with an offshore broker. Offshore brokers are notoriously known for flaunting set rules and regulations. Why would anyone sign up with an offshore broker? Make sure to ascertain where a platform is based before signing up. Why should you avoid Horse Forex?
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There are some disturbing details regarding this broker which must be exposed. Who are the founding members of this platform? Can users get names of people running this website? Anonymity is a dangerous partner to associate with. Professional scam artists will do or say anything to make their platform appear legit. Horse Forex is a brutal broker and should be avoided at all costs.
After checking with international regulatory bodies, no information popped up regarding licensing. Scam artists will do or say anything to make their platforms appear to be licensed. And this is what Horse Forex is doing, using fake credentials. Disclaimer at the footer of the homepage claims they are licensed by FSP. Note Horse Forex is not the entity licensed, but a company known as Ausinvest Ltd.
Why have they failed to post any copies of their licensing details? If they are really licensed, why have they failed to post registration details? Why isn’t Horse Forex licensed as an entity by itself? These are questions we need answers to. Stop signing up with a broker who is using fake licensing credentials. HorseForex is about to commit a number of offenses and signing up with them is prohibited. Stay clear of this broker and sign up with credible brokers at all times.
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What we found perturbing with their demo account is offering rigged results. By rigging their demo account, users are led to believe this platform can make insane profit margins. Testing their demo account produced insane profit margins with each trade. How can a rigged demo account make over 95% successful trades? Market prices are volatile and change at any given time without warning.
Scam artists rig their demo account in an effort to entice users to sign up. Having seen they can make these insane profit margins, users want the real deal. And this is investors fall for their trap as they go ahead and open a real account expecting to mirror results. Simply stay away from any trading platform which claims to offer over 90% successful trades. HorseForex is rigging their demo account to entice users to sign up. No one has achieved these trading margins with their real account.
Horse Forex is furnishing users with two different account types to choose from. MT4 and MT5 trading platforms are being offered by this broker. A problem with issuing two trading platforms without proper security measures is their unstable nature. Downloading them to our platforms was a problem as process was slow. It seems their platforms lack proper security features which are important.
An unstable platform will open up users to attacks from third parties. Hackers will find unstable platforms as easy prey for harvesting data. Hackers will take over unstable platforms and steal credit card information. What about your identity details used to apply for over the moon loan amounts? HorseForex is a cruel broker, stay away.
Horse Forex is never going to properly secure your funds for a number of reasons. First, they don’t properly secure their website with DDoS security. Secondly, they don’t inform users how they handle funds. Where do they bank funds deposited by members? Is it possible users are depositing funds straight to owner’s personal bank account? Can members get any confirmation details from banks holding their funds? Dealing with Horse Forex is a waiting time bomb.
Another shocking detail with this broker is segregation of accounts. Merging of assets in one account is against set industry rules, why are doing so? HorseForex is pooling funds in one account which extremely dangerous. Members should not expect any compensation as this broker does not insure funds. Stay away from this platform.
Without a shadow of doubt, Horse Forex is a scam which must be exposed by all members. Stay away from this platform or become their next victim.
Adding this broker to our scam blacklist will help greatly protect our readers. You now know what to expect with this broker. Mark all their emails as Spam and ignore all attempts to join their affiliate programs.
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Wishing you a successful trading experience.
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