Trade Horizon Review 1
Terrible trading conditions, stop loss was not executed at the price set. They manipulated prices. Customer support also sucks. This broker is nothing but rubbish…
Trade Horizon Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Terrible trading conditions, stop loss was not executed at the price set. They manipulated prices. Customer support also sucks. This broker is nothing but rubbish…
Summary: The overall sentiment regarding Trade Horizon is predominantly negative, with multiple sources labeling it as a potentially fraudulent broker. Key concerns include its lack of regulation, high minimum deposit requirements, and numerous user complaints about withdrawal issues.
Note: It is crucial to consider the different entities operating under the Trade Horizon name, as this can significantly impact user experiences and regulatory oversight.
Category | Rating (out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service and Support | 2 |
Trading Setup (Experience) | 3 |
Trust Level | 1 |
User Experience | 2 |
How We Rate Brokers: Our ratings are based on an analysis of user reviews, expert opinions, and factual data regarding the broker's offerings and regulatory status.
Founded in 2021, Trade Horizon claims to operate from the United Kingdom, specifically from an address in London. However, it lacks any credible regulatory backing, which raises significant concerns about its legitimacy. The broker offers trading through a proprietary platform as well as MetaTrader 5, catering to a variety of asset classes, including forex, cryptocurrencies, and CFDs. Despite its claims, Trade Horizon has been flagged by multiple financial authorities for operating without appropriate licenses.
Trade Horizon has no verifiable regulatory status, which is a significant red flag for potential investors. While it claims to be authorized in various jurisdictions, there is no concrete evidence to support these assertions. Notably, searches through the UK's Financial Conduct Authority (FCA) database reveal no registration for Trade Horizon. This lack of regulation exposes traders to considerable risk, as they have no recourse in the event of disputes or fund mismanagement.
The broker requires a high minimum deposit of $10,000 to open a basic account, which is considerably higher than industry standards. Many other brokers allow for initial deposits as low as $100. Users have reported significant difficulties in withdrawing their funds, with claims of accounts being blocked or funds disappearing altogether. According to Forex Trading Bonus, many users have expressed frustration at being unable to retrieve their money after making initial deposits.
Trade Horizon claims to offer a diverse range of trading assets, including forex pairs, cryptocurrencies, indices, and commodities. However, the lack of transparency regarding the specific trading conditions for these assets further complicates the decision-making process for potential traders. Many reviews highlight that the broker provides insufficient details on spreads, fees, and commissions, which is another indication of potential scam-like behavior.
While Trade Horizon advertises tight spreads starting from 0.0 pips, the absence of detailed information on costs raises questions about its pricing structure. Users have reported hidden fees that were not disclosed upfront, leading to unexpected costs during trading. This lack of transparency is a common trait among fraudulent brokers, as noted in various user reviews across platforms.
Trade Horizon offers trading through its proprietary platform and MetaTrader 5. Although MT5 is a well-regarded platform in the trading community, the way Trade Horizon presents it may mislead users into thinking it is an exclusive offering. The proprietary platform lacks detailed information regarding its features and functionality, which can be concerning for traders who rely on robust trading tools.
Customer service has been a point of contention among users, with many reporting unresponsive support channels. The broker does not provide a dedicated email address for support, relying instead on a contact form that often goes unanswered. According to BrokerChooser, the absence of live chat and reliable support options further diminishes user trust.
Trade Horizon does not clearly specify any restricted regions on its website, but the lack of regulation means that traders from various jurisdictions should exercise extreme caution. The absence of a regulatory framework can lead to complications, especially for traders seeking to withdraw funds.
The primary language of communication appears to be English, which may pose challenges for non-English speaking traders. The lack of multilingual support can limit the accessibility of the platform for a broader audience.
In conclusion, the Trade Horizon review reveals significant concerns regarding the broker's legitimacy, regulatory status, and user experiences. The lack of transparency and high minimum deposit requirements further exacerbate these issues, making it difficult to recommend Trade Horizon as a viable trading option. Potential traders should exercise extreme caution and consider alternative, regulated brokers for their trading needs.