Horseforex

Horseforex is a New Zealand-registered brokerage company that provides trading services in forex, cryptocurrencies, and CFDs on stocks, indices, and commodities. The broker was founded on June 11, 2019, and lists its official domain as aus.top, though this website is currently non-functional. As a result, public information about the broker's operational status is scarce, with some sources suggesting it may no longer be in business.

According to our records, Horseforex is regulated by the Australian Securities and Investments Commission (ASIC) with a Forex Execution License (STP). However, the status of this license is not specified, and the broker's lack of an accessible website raises concerns about its regulatory compliance and current operations. Traders are advised to exercise caution when considering this broker.

Horseforex holds an ASIC license, which is typically a reputable regulatory body in the financial services industry. However, the exact status of this license is unclear, and the broker's non-functional website means that clients cannot easily verify its regulatory standing. In FXCanary's assessment, this lack of transparency elevates the risk profile.

The broker has an FXCanary Scam Risk Score of 52 out of 100, indicating an elevated risk level. This score reflects the absence of a functional website, ambiguous operational status, and limited public information. Without a verifiable online presence, traders cannot access crucial details about the broker's terms, conditions, or support.

Horseforex offers two live account types: an ECN account and an STP account. Both require a minimum deposit of $50 and offer maximum leverage of 400:1. The broker also provides a demo account for practice purposes. The accounts are designed for traders who want access to forex, rare metals, commodities, indices, stocks, and cryptocurrencies.

The trading platforms supported are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are industry-standard platforms known for their advanced charting tools and automated trading capabilities. The broker's leverage of up to 400:1 is high and carries significant risk, especially for inexperienced traders.

Horseforex covers a wide range of trading instruments, including forex pairs, rare metals, commodities, indices, stocks, and cryptocurrencies. This diverse offering allows traders to build multi-asset portfolios within a single account. However, the specific instruments available within each category are not detailed due to the lack of an operational website.

Traders interested in specific markets, such as major forex pairs or popular cryptocurrencies, would need to rely on the broker's now-defunct website or customer support for further information. The absence of accessible details makes it difficult to evaluate the broker's market coverage or execution quality.

No specific information is available about deposit and withdrawal methods, processing times, or fees. Given the broker's non-functional website, it is unclear whether funding options such as bank transfers, credit cards, or e-wallets are supported. The minimum deposit of $50 is relatively low, which may appeal to beginner traders, but the lack of clarity on withdrawal processes is a major red flag.

Traders are advised to confirm any funding or withdrawal policies directly with the broker before committing capital. However, with no active website or known support channels, this may prove challenging.

Horseforex does not appear to have an active customer support system, as its website is down and no other contact information is publicly available. This absence is a significant concern for traders who may encounter issues with their accounts or trades. Educational resources, such as tutorials, webinars, or market analysis, are also not accessible.

The lack of support and education materials makes Horseforex unsuitable for novice traders who typically require guidance. Even experienced traders would face challenges in resolving account or technical problems without a reliable contact point.

Horseforex presents a high-risk proposition due to its non-functional website, uncertain regulatory status, and elevated scam risk score. While the broker claims to offer competitive account conditions and a range of instruments, the inability to verify these claims or access the trading platform is a critical flaw.

Traders are strongly urged to exercise caution and consider alternative brokers with a proven track record and transparent operations. The absence of an online presence suggests that Horseforex may no longer be actively serving clients, making it an unsuitable choice for new investments.