https://herofx.co/
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Hero FX Ltd
Hero FX
The Virgin Islands
Pyramid scheme complaint
Expose
Benchmark | -- |
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Maximum Leverage | -- |
Minimum Deposit | -- |
Minimum Spread | 0.01 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | (2+) |
Withdrawal Method | (1+) |
Commission | -- |
Benchmark | -- |
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Maximum Leverage | 1:500 |
Minimum Deposit | 30$ |
Minimum Spread | from 1.5 |
Products | Forex, Indices, Metals, Crypto, Energies, Futures, Stocks |
Currency | -- |
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Minimum Position | 0.01 |
Supported EA | |
Depositing Method | (2+) |
Withdrawal Method | (1+) |
Commission | -- |
Benchmark | -- |
---|---|
Maximum Leverage | 1:500 |
Minimum Deposit | 30$ |
Minimum Spread | from 0.01 |
Products | Forex, Indices, Metals, Crypto, Energies, Futures, Stocks |
Currency | -- |
---|---|
Minimum Position | 0.01 |
Supported EA | |
Depositing Method | (2+) |
Withdrawal Method | (1+) |
Commission | Flat-rate |
Capital
$(USD)
Registered in | The Virgin Islands |
Regulated by | No effective regulation at this time |
Year(s) of establishment | 1-2 years |
Trading instruments | 71 Forex Pairs 59 Stocks 30 Cryptos And stocks, futures, indices, energies, metals |
Minimum Initial Deposit | $20 |
Maximum Leverage | 1:500 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5 |
Deposit and withdrawal method | Cryptocurrencies |
Customer Service | 24/7, Email, phone number, address |
Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Offers a wide range of tradable instruments including forex, commodities, and cryptocurrencies
Provides high leverage of up to 1:500
Accepts deposits in BTC/ETH/USDT, which can be convenient for clients who prefer using cryptocurrencies
Offers a choice of multiple trading platforms including MT4, MT5.
Customer support is available 24/7 and can be accessed via email, phone, and help desk
The company is registered and operates from the British Virgin Islands, a well-known offshore financial center
Low minimum deposit requirement of $20 for BTC deposits
The absence of educational resources, which may not be ideal for beginner traders who need to learn about the markets and trading strategies
The commission-free account option has higher spreads compared to the RAW Spreads account option
Deposits in cryptocurrencies such as ETH and USDT may be subject to network fees, which can reduce the amount of funds deposited
The company does not offer negative balance protection, which means traders can potentially lose more than their account balance in case of large market movements
The company's regulatory status is not clear, as it does not appear to be regulated by any major financial authority such as the FCA or CySEC.
Advantages | Disadvantages |
Hero FX offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, Hero FX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
Hero FX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Hero FX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that Hero FX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with Hero FX or any other MM broker.
Hero FX is a forex and CFD broker that offers trading services on over 200 financial instruments including forex, indices, commodities, and cryptocurrencies. The company operates with raw spreads starting from 0.01 pips on its RAW SPREAD account, and offers leverage up to 1:500. It accepts multiple deposit methods including Bitcoin, Ethereum, and USDT, and provides customer support 24/7 via email and phone. However, the company does not offer any educational resources for traders. Hero FX is registered in the British Virgin Islands and operates under no regulations.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of tradable instruments including Forex pairs, stocks, cryptos, futures, indices, energies, and metals. | Being an unregulated broker, there is no guarantee that the trading instruments offered are legitimate or transparent. |
Opportunity for diversification in trading portfolio. | Trading with an unregulated broker carries higher risk as they are not subject to oversight and scrutiny by financial regulatory bodies. |
Hero FX offers a diverse range of tradable instruments that includes 71 Forex pairs, 59 stocks, 30 cryptos, futures, indices, energies, and metals. This wide range of options provides traders with an opportunity to diversify their portfolio and access multiple markets and asset classes. With flexible trading options, traders can choose to trade in various markets and timeframes. However, as an unregulated broker, Hero FX does not provide any guarantee of the legitimacy, transparency, or fairness of the trading instruments offered. Additionally, the lack of regulatory oversight means that there may not be proper safeguards in place for clients' funds and personal data, which increases the risk of fraudulent activities.
Advantages | Disadvantages |
Raw spreads starting at 0.01 pips offer competitive pricing | No information on potential hidden fees or charges |
Flat-rate commissions can provide predictable costs | No commission account has higher starting spreads |
No commission account provides cost-free trading | Spread fluctuations may impact profitability |
Hero FX offers two account types with differing pricing structures. The Raw Spread account offers raw spreads starting at 0.01 pips and flat-rate commissions, providing transparent and competitive pricing. On the other hand, the No Commission account provides zero commission trading but at the cost of higher starting spreads. While these options have their advantages, it is important to note that Hero FX does not disclose any potential hidden fees or charges that may impact profitability. Additionally, traders should be aware of spread fluctuations, which can impact trading costs and ultimately profitability.
Advantages | Disadvantages |
Both account types offer hedging and EA trading | No account type available for high-volume traders |
Minimum deposit is only $20, making it accessible to beginner traders | The absence of regulatory oversight may raise concerns about the safety of funds |
The RAW SPREAD account offers tighter spreads starting at 0.01 pips, while the NO COMMISSION account offers low spreads starting at 1.5 pips | No Islamic account option available for Muslim traders |
The RAW SPREAD account charges flat-rate commissions, which can be beneficial for traders who frequently trade in high volumes | No VIP account option with added benefits for loyal or high-volume traders |
Hero FX offers two account types: RAW SPREAD and NO COMMISSION. Both account types offer similar features such as EA and hedging capabilities, and trading on all pairs. The main difference between the two is the spread and commission structure. The RAW SPREAD account offers tighter spreads starting at 0.01 pips but charges flat-rate commissions. Meanwhile, the NO COMMISSION account offers low spreads starting at 1.5 pips and does not charge any commissions. The minimum deposit required for both accounts is only $20, making it an accessible option for beginner traders. However, the lack of regulatory oversight may raise concerns about the safety of funds for some traders. Additionally, there are no account options available for high-volume or Muslim traders, and no VIP account option with added benefits.
Advantages | Disadvantages |
Support for both MT4 and MT5 | Limited platform selection |
Popular and widely-used platforms | No proprietary platform |
Advanced charting and analysis | TradingView not yet available |
Expert Advisor (EA) capabilities | Limited customization options |
Hero FX offers two widely-used trading platforms, MT4 and MT5. These platforms are popular among traders due to their advanced charting and analysis tools, as well as their support for Expert Advisors (EA) and algorithmic trading. However, the platform selection is limited to only MT4 and MT5, and there is no proprietary platform available. The upcoming integration of TradingView is a positive development, as it will allow traders to access additional charting and analysis tools. Overall, while the platform options are limited, Hero FX provides traders with reliable and advanced tools for trading.
Advantages | Disadvantages |
Allows for larger potential profits with smaller initial investment | High leverage increases the risk of significant losses |
Opportunity to take advantage of market movements with greater position sizes | High leverage can lead to overtrading and emotional decision-making |
Can be useful for experienced traders with strict risk management strategies | New traders may not fully understand the risks associated with high leverage and may incur significant losses |
May offer more trading opportunities and flexibility | Some regulatory bodies may have restrictions on high leverage offerings |
Hero FX offers a maximum leverage of up to 1:500, which can provide traders with the opportunity to potentially maximize their profits with smaller initial investments. However, it's important to note that high leverage also increases the risk of significant losses, especially for new and inexperienced traders. Traders must ensure that they fully understand the risks associated with high leverage and have strict risk management strategies in place to prevent overtrading and emotional decision-making. Additionally, some regulatory bodies may have restrictions on high leverage offerings, so traders should verify that they are trading with a reputable and trustworthy broker.
Advantages | Disadvantages |
Multiple deposit options available, including crypto | Withdrawals can take up to 24 hours to be reviewed and sent |
Minimum deposit of $20 in BTC | BTC/ETH/USDT deposits may incur additional gas fees |
Funds are instantly and automatically credited | Limited deposit options outside of crypto |
Withdrawals are reviewed by the payments team for security |
Hero FX offers its clients multiple deposit methods, including BTC, ETH, and USDT (ERC-20), making it convenient for those who prefer using cryptocurrencies. The minimum deposit of $20 in BTC is relatively low, providing flexibility for clients to start trading. Funds deposited through cryptocurrencies are credited instantly and automatically once the transaction receives multiple network confirmations. Clients can also easily withdraw funds by selecting the “Withdraw Funds” option in the “Funds” tab and completing the necessary information. However, withdrawals can take up to 24 hours to be reviewed and sent, which may be a disadvantage for clients who need the funds urgently. Additionally, BTC/ETH/USDT deposits may incur additional gas fees, which may impact the overall cost of using these methods. Moreover, there are limited deposit options available outside of crypto, which may be a disadvantage for clients who prefer to use traditional payment methods.
You may withdraw the funds in your wallets while having other funds in your trading account with open trades.
1- Select “Funds” tab
2- Select “Withdraw Funds” from the left hand panel.
3- Complete “Initial Information” proceed to “Transfer Details” and finish with “Confirmation.”
Although there are no educational resources on their website, if the clients search ‘herofx’ on YouTube, they will be able to find the official channel of this company.
Here is the link of one of their educational videos.
Advantages | Disadvantages |
24/7 customer support availability | No live chat support option |
Email, phone, and ticket support available | No physical office locations for in-person support |
Social media accounts for communication | Limited language options for support |
FAQ section available for quick answers | No dedicated account managers for personalized support |
Quick response times from customer support team | Limited educational resources available for self-help |
HeroFX offers a range of customer support options to assist traders with their needs. The 24/7 availability of the customer support team ensures that assistance is always available when needed. Multiple support options are also available, including email, phone, and a ticket system, providing flexibility for traders. Social media support is also available for those who prefer to use these platforms. The support team is knowledgeable and helpful, providing quick responses to queries. However, live chat support is not available, and there is no physical office for in-person support. The language options for support are also limited. Overall, HeroFX provides reliable and helpful customer support for their traders.
In conclusion, Hero FX is an online forex trading platform that offers a range of trading instruments, including forex, commodities, and cryptocurrencies. The company provides two types of trading accounts with different spreads and commissions, and traders can choose from various deposit and withdrawal methods, including cryptocurrency. While the company does not offer educational resources, its customer support team is available 24/7 to assist with any needs. The maximum leverage offered by Hero FX is up to 1:500, which can be both an advantage and a disadvantage depending on the trader's risk tolerance. Overall, Hero FX has a user-friendly platform and a range of options for traders, but potential customers should be aware of the risks involved in trading and carefully consider whether it is the right choice for them.
Question: What is Hero FX?
Answer: Hero FX is a forex and CFD broker that offers online trading services to retail and institutional clients worldwide.
Question: What types of accounts are available at Hero FX?
Answer: Hero FX offers two types of accounts: a RAW SPREAD account with low spreads and flat-rate commissions, and a NO COMMISSION account with low spreads and no commissions.
Question: What is the minimum deposit at Hero FX?
Answer: The minimum deposit at Hero FX is $20 for all account types.
Question: What platforms are available for trading at Hero FX?
Answer: Hero FX offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for trading, with TradingView coming soon.
Question: What is the maximum leverage offered by Hero FX?
Answer: Hero FX offers a maximum leverage of up to 1:500.
Question: What deposit methods are available at Hero FX?
Answer: Hero FX currently offers multiple deposit methods including BTC/ETH/USDT (ERC-20). The minimum deposit in BTC is $20.
Question: How can I contact the customer support team at Hero FX?
Answer: Hero FX's customer support team is available 24/7 to assist you. You can contact them by submitting a new ticket through the “Help Desk” link on the website or by phone at (833) 4-HEROFX.
Finding a broker you can trust can be an arduous process. If you have been trading for years then you know just difficult brokers can become. It seems everywhere you turn there is a new scammer broker promising amazing trading conditions and guaranteeing same-day withdrawals yet doing the exact opposite. This is not to say all brokers are bad as some are regulated and verified and I will tell you more about that later. Today we will be reviewing Hero Fx and determine whether you can trust this broker or not.
HeroFX is an online forex broker offering a series of financial instruments. However, due to the recent exposures, the reliability of HeroFX is suspicious. Therefore, WikiFX made a comprehensive review of this broker so that we can go deep into the details of this broker.
Many individuals have found that trading forex may potentially provide significant gains. Nonetheless, as a consequence, several forex brokers now provide trading opportunities that may tempt investors to engage with them. A total of a trillion dollars is exchanged every day, which is why so many companies are active in this field.
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