Horseforex Spreads, leverage, minimum deposit Revealed

　　Note: Horseforex's official website: https://www.horseforex.com/ is currently inaccessible normally.

Horseforex Information

　　Horseforex is a New Zealand registered brokerage company who offers trading services in forex, crypto, CFDs on stocks, indices and commodities. It provides a demo account for practicing and two live accounts with a minimum deposit of an affordable $50. Trades can be executed on the industry-leading MT4 and MT5 platforms.

　　However, the broker currently does not maintain functional website, leaving the public unknown about its operational status, some believe that the broker is out of business already. Furthermore, the broker claimed to operate and being regulated in Hong Kong, Dubai, New Zealand, and Mauritius, but after investigation, the broker actually holds an unsubscribed ASIC license, a revoked FSPR license, and a suspicious clone ASIC license, which indicates no compliance to these institutions at all.

Regulatory Status

　　Horseforex is regulated by ASIC (Australia Securities & Investment Commission), FCA (Financial Conduct Authority), FSPR(Financial Service Providers Register) with licenses numbering at 001276032, 672971 and 330757 respectively. However, all these licenses are either unsubscribed, revoked, or suspected to be fake clones, indicating that the broker might disguise itself as some other companies to mislead investors and conduct fraud activities. You should be highly aware about this and be vigilant with this broker.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License Number
	HORSEFOREX PTY LTD	Unsubscribed	ASIC	Appointed Representative (AR)	1276032
	HORSE GROUP LIMITED	Revoked	FSPR	Market Making (MM)	672971
	Alpha Securities Pty Ltd	Suspicious Clone	ASIC	Straight Through Processing (STP)	330757

Downsides of Horseforex

　　Unavailable website: Horseforex's website cannot be opened currently.

　　Regulatory concerns: The licenses the broker hold from ASIC and FSPR are unsubscribed, revoked or suspected to ba fake clone, meanig that it does not comply to rules from these regulatory authorities. This heightens trading risks with them.

　　Limited transparency on commissions: The broker does not disclose necessary info on commission that traders cannot understand well about their total trading costs.

　　Limited customer service channels: Horseforex can only be accessed by email and address, more immediate and comprehensive methods such as phone, live chat are not readily available.

What Can I Trade on Horseforex?

　　Horseforex provides trading services to several trading instruments, mainly in 5 asset classes.

　　Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment. Horseforex offers more than 35 currency pairs.

　　Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, such as precious metals as well as energyproducts like crude oil.

　　Stocks: Stocks represent ownership stakes in large companies such as Apple, Tesla etc..

　　Indices: Indices are statistical measures that represent the performance of a group of stocks.

　　Cryptos: Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on decentralized networks based on blockchain technology.

　　When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than coHorseforexntrating on a single one you feel optimistic about.

Account Type/Spreads

　　Horseforex provides a demo account for testing new strategies before tapping into real trading to avoid losing real money. For live accounts, the broker offers a STP and an ECN account, both with a minimum deposit of $50, affordable to most traders. Spread is from 1.8 pips in the STP account while much tighter from 0 pips in the ECN account.

Leverage

　　The leverage offered by Horseforex is capped at 1:400, which is higher than the standard usually below 1:30 set by EU regulators. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

　　Horseforex offers the world-renowned and industry-leading MetaTrader 4 and 5 platforms, which are popular and well-acclaimed with their intuitive interface, automated trading by Expert Advisor, customizable charting tools and robust analysis functions.

Deposit & Withdrawal

　　Horseforex accepts multiple options to fund your accounts: bank wire (bank transfer/SWIFT), Alipay, Bitcoin, PayPal, UnionPay and WeChatPay, with some of their target to Chinese users mainly.