Is The 5%ers a Safe Forex Broker? WikiFX Review
Discover why The 5%ers got a low WikiFX rating. Learn the risks of trading with an unregulated Forex broker. Read now to protect your investments!
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Bonus Trap: Unregulated FX Broker Trade Horizon Receives Multiple Warnings
Abstract：To attract traders to invest, forex brokers often offer bonuses for investors who deposit.
For scammers, however, offering deposit bonuses is a method of fraud. Just like Trade Horizon, this fraudulent broker offers very attractive bonuses to its clients. However, not a penny of the bonus it promises will go into your pocket.
Two Operating Websites & Bonus
Though some of its websites have been suspended, Trade Horizon now has two operating websites (“www.tradehorizon2.com” and “www.trade-horizon.com/fr”) that share the same logo and design. It is not rare to see that a fraudulent broker has multiple websites. It can continue to scam even if one of the websites was exposed.
The scam offers an extremely high bonus that is up to 100%!
Not Regulated
Planzone LTD, the company that owns Trade Horizon, claims to be incorporated in the UK under registration number 13409720.
We searched Companies House of United Kingdom (CH) - the registrar of companies in the UK, and found a matching result. According to CH, the company status is noticed as “Active proposal to strike off”, and the confirmation statement is overdue. In other words, the registration of Planzone LTD is abnormal. Besides, CH does not regulate forex activities.
As a forex broker located in the UK, Trade Horizon shall be regulated by UK FCA to offer forex services. However, no result that matched this broker can be found in the UK FCA register.
Be Warned Twice
On 2 June 2022, the France Autorité des Marchés Financiers (AMF) issued a warning that Trade Horizon is not authorized to provide forex services in France.
On 8 June 2022, the Belgian Financial Services and Markets Authority (FSMA) identifies Trade Horizon as a fraudulent online trading platform.
Negative Reviews
Victims have so many complaints about this scammer.
This cunning broker shut the investor's account down and cut down all the connections when it came time to withdraw funds and pay commission.
A victim was asked to pay tax and he or she did so. Once the unlicensed broker got the money, it used the holiday as an excuse to escape. The victim did not realize that Trade Horizon is a scam until he or she was not answered.
Don't trade with a broker only because it offers you an attractive bonus.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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