Successful installed, but boot fails - Windows 95 as guest on VirtualBox Mac OS X Host

I am ruing VirtualBox (Version 5.0.20 r106931) on a MacBook Pro (Retina, 15-inch, Mid 2014; 2.2 GHz Intel Core i7; 16 GB 1600 MHz DDR3) with OS X El Capitan (10.11.4). I already installed Windows 95 following this tutorial: https://www.youtube.com/watch?v=Bx7RwnrdC_k

While Windows 95 boots, it shows the Windows 95 logo but after some seconds it shows this error:

While initializing device IOS:

Windows protection error. You need to restart your computer.

I have edited the VirtualBox XML file for my guest Windows 95 machine.

The relevant tags for the XML file are the following:

<VirtualBox xmlns="http://www.iotek.de/VirtualBox-settings" version="1.15-macosx">
  <Machine uuid="{bba76ccc-e1ba-4251-af68-64484c9a8fc2}" name="Windows 95" OSType="Windows95" snapshotFolder="Snapshots" lastStateChange="2016-05-04T20:51:40Z">
    <Hardware version="2">
      <CPU count="1" hotplug="false">
        <HardwareVirtEx enabled="false"/>
        <HardwareVirtExNestedPaging enabled="false"/>
        <HardwareVirtExVPID enabled="false"/>
        <HardwareVirtExUX enabled="false"/>
        <PAE enabled="false"/>
        <LongMode enabled="false"/>
        <HardwareVirtExLargePages enabled="false"/>
        <HardwareVirtForce enabled="false"/>
      </CPU>

So, as long as I understand, having HardwareVirtEx as "false" means VT-x, AMD-V is disabled. I have read it would work if I disable VT-x/AMD-V. But it keeps failing to boot.

Questions:

1. Any clue? What else should I try?
2. Is it possible at all to run a guest Windows 95 on a VirtualBox on Mac OS X host?
3. Has anybody been successful on this venture?
4. Should I better go with a non-free virtualization solution like Parallels?

Thanks a lot,

/Gus