Horizon Finance (P24O Ltd)

Caution Investors Horizon Finance (P24O Ltd) – Unlicensed Forex Broker – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)

Overview:

If you are looking for a reliable and regulated forex broker, you should steer clear of Horizon Finance. This company claims to offer investment services and forex trading, but it is not authorized by any reputable regulator. In fact, the Malta Financial Services Authority (MFSA) has issued a warning against Horizon Finance, stating that it is likely to be a scam with a high risk of losing money. In this review, we will examine the red flags and risks associated with Horizon Finance, and why you should not trust them with your funds.

Regulation and Compliance: MFSA Issues Warning

One of the most important factors to consider when choosing a forex broker is their regulatory status. A regulated broker has to comply with strict rules and standards that protect the interests and rights of investors. A regulated broker also has to keep client funds in segregated accounts, provide fair and transparent trading conditions, and submit regular reports to the regulator.

Horizon Finance, however, is not regulated by any authority. It claims to be a Maltese registered company, but the MFSA has confirmed that this is not true. The MFSA also stated that Horizon Finance is not licensed or authorized to provide any investment or financial services in Malta or elsewhere. Moreover, the MFSA warned that Horizon Finance is likely to be a scheme of dubious nature with a high risk of losing money.

The MFSA’s warning can be found on the International Organization of Securities Commissions (IOSCO) website, under the investor alerts portal. Here is the link: https://www.iosco.org/investor_protection/?subsection=investor_alerts_portal&id=26373&entity=Horizon-Finance-(P24O-Ltd)—Unlicensed-Forex-Broker

Customer Reviews:

Another way to assess the credibility and reputation of a forex broker is to look at customer reviews and feedback. Unfortunately, Horizon Finance does not have many reviews online, which is a sign of low popularity and trustworthiness. The few reviews that we could find were mostly negative, with customers complaining about poor service, withdrawal issues, hidden fees, and aggressive marketing tactics.

Some customers even reported that Horizon Finance is a scam that uses fake testimonials, fake awards, and fake trading results to lure unsuspecting traders. They also claimed that Horizon Finance does not allow them to withdraw their money, and that they are constantly harassed by phone calls and emails from the company’s representatives.

Products and Services:

Horizon Finance claims to offer a variety of products and services for forex traders, such as trading platforms, account types, educational resources, market analysis, and bonuses. However, these claims are not backed by any evidence or details. The company’s website is vague and unprofessional, with many grammatical errors and broken links.

The company does not provide any information about its trading platforms, such as their features, specifications, compatibility, or security. The company also does not disclose its trading conditions, such as spreads, leverage, commissions, or execution speed. The company’s account types are also unclear, with no minimum deposit requirements or benefits listed. The company’s educational resources are limited and outdated, with no webinars, videos, or courses available. The company’s market analysis is also superficial and unreliable, with no sources or references cited. The company’s bonuses are also suspicious and misleading, as they come with unrealistic terms and conditions that make it impossible to withdraw any profits.

Location:

Horizon Finance claims to have its headquarters in Malta, but this is not true. The company’s address on its website is fake and does not exist. The company also does not have any physical presence or offices in any other country. The company’s phone numbers are also dubious and unresponsive. The company’s email addresses are also generic and unprofessional.

Customer Service:

Horizon Finance’s customer service is also poor and unhelpful. The company does not have a live chat option on its website, which is a common feature among reputable brokers. The company’s phone support is also unreliable and rude, with long waiting times and disconnected calls. The company’s email support is also slow and ineffective, with no clear answers or solutions provided.

Conclusion:

Horizon Finance is a dubious forex broker that you should avoid at all costs. The company is not regulated or authorized by any authority, and it has been warned by the MFSA as a potential scam. The company has many red flags and risks associated with its products and services, such as poor quality, hidden fees, withdrawal problems, and false claims. The company also has a bad reputation among customers, who have reported many negative experiences and complaints.