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Hero FX

The Virgin Islands|2-5 years|
Suspicious Scope of Business|High potential risk|


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Leevie Herelle & Associates, Top Floor, Compton Building, William Peter Boulevard, P.O. Box CP6462, Castries, St. Lucia


No valid regulatory information, please be aware of the risk!

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Broker Information


Company Name

Hero FX Ltd

Company Abbreviation

Hero FX

Platform registered country and region

The Virgin Islands

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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Hero FX · WikiFX Survey

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Hero FX · Company Summary

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.

Pros and cons of Hero FX


  • 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.

What type of broker is Hero FX?

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.

General information and regulation of Hero FX

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.

general information

Market instruments

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.

Market instruments

Spreads and commissions for trading with Hero FX

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.

Trading accounts available in Hero FX

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.

Trading accounts

Trading platform(s) that Hero FX offers

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.

Trading platform(s)

Maximum leverage of Hero FX

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.

Deposit and Withdrawal: methods and fees

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.

How to submit a withdrawal?

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.”

How to submit a withdrawal?

Educational resources in Hero FX

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.

Customer service of Hero FX

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.

Frequently asked questions about Hero FX

  • 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.


Can you trust Hero Fx?

NewsCan you trust Hero Fx?

2022-10-26 17:11

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.

2022-10-26 17:11
Can you trust Hero Fx?
WikiFX Review: Can HeroFX be your "hero" in forex trading?

NewsWikiFX Review: Can HeroFX be your "hero" in forex trading?

2022-10-24 15:50

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.

2022-10-24 15:50
WikiFX Review: Can HeroFX be your "hero" in forex trading?
Beware Of False Promotion Offered By Unregulated Forex Brokers Like HeroFX

ExposureBeware Of False Promotion Offered By Unregulated Forex Brokers Like HeroFX

2022-10-19 13:33

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.

2022-10-19 13:33
Beware Of False Promotion Offered By Unregulated Forex Brokers Like HeroFX

User Reviews

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ᴀʜ тοяиɢ
more than one year
Absolutely loving❤ Hero FX for its swift transaction times! I've been trading there for a while, and I'm impressed by how quickly⚡ they handle withdrawals—often on the same day. The platform itself is straightforward, making it easy to navigate even for someone like me who isn't a tech wizard. A solid choice for traders who value efficiency and simplicity.
2024-06-21 17:05
more than one year
Hero FX has excellent negative balance protection. Deposits are successful within seconds. Trading bonuses are very useful to increase the capital and margin ratio. Overall, I'm impressed. If there are any changes, I will repost here, but so far my experience has been very good.
2024-03-08 13:49
more than one year
I used Herofx from August 2023 to December 31 2023. As a US client if I had to choose an unregulated broker it would be Herofx. They stopped taking US clients recently and I had an account before that so they said I wouldnt be affected. Theres always a possibility that something unfavorable happens and they use this as ammo for an argument. I dont like being at such a disadvantage to my broker so I decided to withdraw 3 days ago. My deposits were in Eth and they were always in my trading account within minutes. Withdrawals are the important part. I had a total of $3500 in deposits and $288 in withdrawals. Was the ease of withdrawal due to me losing money overall? Thats something I cant confidently answer. My withdrawal took 3 days through Eth and I received $269 from my $288 total, 8% lost. Herofx decided to update their servers and CRM and this update locked everyone out of their trading accounts from Dec 7 to Dec 29. After 22 days and no communication even after they resumed servers, I messaged support because I couldnt sign in to my old trading account on mobile but I could on PC. Seems like they were using a loophole in the Metatrader licensing that doesnt accept unregulated brokers anymore. All around too sketchy for me. Raw spreads account had less than 1 pip on forex pairs and 0.6-3 pips on gold. The commissions are very high though at $16 per lot. Too high 2 stars based on high commissions and fees, sketchy business events, no regulators, and slow withdrawals.
2024-01-01 04:57
Dreams come True
more than one year
Hero FX is my go-to broker for its competitive pricing and fast execution. The raw spreads starting at 0.01 pips and the option for zero commission trading suit my preferences. The support for both MT4 and MT5 is convenient, although I hope they introduce more platform options in the future.
2023-12-05 14:30
more than one year
Hero FX is my preferred trading platform with its extensive range of trading instruments, including forex, stocks, and cryptocurrencies. The low minimum initial deposit of $20 and high leverage of 1:500 make it accessible for all types of traders. The choice of depositing in cryptocurrencies is a plus, offering flexibility. The 24/7 customer support is responsive via email and phone. However, I wish they provided more educational resources for beginners to enhance their trading skills.
2023-12-04 19:00
more than one year
Hello, I am one of the new users who, due to my reasons, did not have access to the initial registration email and password, and I re-registered, but with the same email and in no way can I get confirmation or message...
2023-02-24 15:32
~ Renew
more than one year
It's NOT REAL. This company is a 100% Fake Scammer. Listen to the actual negative reviews. Hero FX can no longer be trusted. So I advise you to stay off their platform.
2023-02-14 17:34
more than one year
Payment fees are too high! I couldn't make any money at all, and almost all are deducted by them. This broker is so dark-hearted, how dare they charge such high fees! Wouldn't it be uneasy to have a conscience with black money?
2022-12-01 12:32
more than one year
Let me tell you guys! Don’t ever try to with this broker, or you’re gonna lose all your money. Once you made a deposit, you’re so gonna jump into their traps. Trading fees on this platform is extremely high, other additional fees also charged… You cannot even afford that at all. Trust me, put your money into other platforms that won’t frustrate you.
2022-12-01 12:09


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