The official website of this questionable offshore service provider invites you to experience their world class services designed to suit every investor’s trading needs and preferences. What’s more, the unlicensed platform will have you believe they’re just the right Forex dealer you’ve been looking for.
Promising you the online trading world on a plate while failing to even mention that they’re completely unregulated is what you can expect from every other gray zone firm. So better read this Hero FX review first before making investment decisions that could cost you a lot more than you bargained for.
Regulated by: | Unregulated Offshore Broker |
Is This Company Safe? | Absence of licenses makes any site unsafe! |
Known Websites: | https://herofx.co/ |
Have Warnings from: | N/A |
Registered in: | St. Lucia (alleged) |
Operating since: | 2022-01-05 |
Trading Platforms: | MT4, MT5 |
Maximum Leverage: | 1:500 |
Minimum Deposit: | N/A |
Deposit Bonus: | Not available |
Trading Assets: | Forex, Indices, Shares, Futures, Crypto, Metals, Energies |
Free Demo Account: | Not available |
How to Withdraw from This Company? | Payouts do not happen – better contact our legal services for help! |
Tax Haven For HQ
In order to safely expand their unscrupulous businesses, firms like Hero FX Ltd, Limeberg and others, often choose gray zones to register their conduct. In this concrete case, that’s St. Lucia, an offshore tax haven that doesn’t regulate brokerage agencies. This was publicly announced by their local financial authority – FSRA.
Looking through the web archive showed that the company previously claimed to be operating out of the British Virgin Islands, however without ever gaining FSC’s approval apparently.
While at it, we’ve also checked premium regulator’s databases like FCA, BaFin, CySEC, ASIC and NFA, yet this concrete result shows up nowhere. Without a doubt, this trading portal will leave you penniless in the end, without a chance to secure your funds or get access to the compensation scheme.
Who Is Targeted
Despite the website’s disclaimer about not providing services to the US citizens, the actual statistics show something different. Take a look at the list of targeted countries since May 2022:
- United States
- South Africa
- India
- United Kingdom
- Canada
With the mass expansion of the online trading niche, fraudsters of all kinds have come up with more disturbingly efficient tactics to attract new victims. Boiler room agents take the central place in the scheme, as they’re the ones that do the convincing.
Victim finding is facilitated through the usage of social networks like Facebook, Twitter, and Instagram. Agents employed by the HeroFX scam all operate through these social platform profiles. Sometimes they display insisting and pushy behaviors that border rudeness and obnoxiousness. That’s because they only care to make you invest, one way or another.
Victims Speak Up
Although the swindler keeps a lowkey internet profile, the experiences are being posted and they point out the truth. If you take a look at the Trustpilot page with the HeroFX reviews, you’ll see that the customers aren’t content with the service they got. The factual state of things is starting to show through and it doesn’t look good for this firm.
Higher Leverage And Hidden Commission
All of the account types offered allow an increased leverage on all assets up to 1:500. This is far beyond acceptable limits within the properly regulated trading zones. Exobit is another platform with such risky conditions.
Also, to make the deal all the more attractive, the spreads claimed either start from 0.01 pips with commission or 1.5 pips without trading commissions.
When the costs aren’t revealed we couldn’t judge how good the offer actually is. Coming from an unlicensed trading portal, these claims are just words on paper.
Deceitful Presentation Of Features
By all means this suspicious website manages to attract the attention of the viewer by offering exceptional trading software. Furthermore, newly joined users can choose between raw spreads account and uncommissioned package. The offer of tradable assets seems quite limited, however. Let’s examine each of the offers.
Platform Unavailable Without KYC
Before you can gain access to the broker’s trading server, you’ll have to verify your account via email, phone and pass a detailed KYC check.
Is it all worth it just so you could get to trade on MT4 and MT5 on a suspicious server? No, it isn’t. Instead, you should go for a regulated Forex provider that has all the necessary permits and enables world-class software.
Limited Range Of Products
All of the available trading instruments are listed on the site itself. It doesn’t look like much, especially in terms of the number of instruments. So if you’re interested in more exotic assets, you’ll have to look somewhere else.
Here’s the available products groups:
- Forex (CHF/USD, EUR/USD, GBP/EUR, NZD/USD)
- Metals (Silver, Gold)
- Indices (UK100, DE30, US30, NAS100)
- Energies (Oil, Natural Gas)
- Futures (Cocoa, Coffee, Cotton)
- Crypto (BTC, ETH, LTC, XRP)
- Shares (IBM, Twitter, JP Morgan)
Two Account Types
The HeroFX accounts differ depending on the type of spreads you wish to go for. However, no full disclosure is given as far as actual trading commission is concerned.
What is additionally concerning is the fact that the prices of the packages remain hidden. You have to consult the customer service in order to find out how much anything costs.
The two advertised account types are:
- Raw Spread Account
- No Commission Account
Crypto Transfers Only
The alleged “flexible” payment process, as the swindler calls it, actually pushes you to choose between BTC and Tether payments. Indeed, these types of transfers are the fastest, but that is exactly what makes them so dangerous. You can lose your money in a blink of an eye, and since the payment is entirely anonymous, the thief remains untrackable.
Due to the missing Hero FX Withdrawal Policy, we couldn’t determine the exact payout terms. In that sense, it isn’t known how long the processing period takes, what the fees are and how to ask for a refund.
Unfunctional Help Desk
Getting directly in touch with the HeroFX support is rendered impossible. The firm simply has a nonexistent customer service team, as many of their victims confirm. The client zone has an option to contact the help desk, but you can only submit a form that nobody replies to.
We Help Victims!
Unlike the false recovery agents, our company employs legal experts and chargeback professionals that offer legal support and advise where it’s due. Right after you report the financial abuser to the local authorities, make sure you also seek help from our support team.
For a quickest response, you can use the online chat or the online form to book your first consultation and share your withdrawal issue with us. And remember – your first interview is completely free of charge!
FAQ Section
What Is HeroFX?
It is an offshore scheme with unscrupulous tendencies and no legitimate Forex license. If you’re having issues with them, please contact us promptly.
How do I know that the funds have reached HeroFX?
You don’t. There’s no communication between the platform and users and the transfers are anonymous.
What type of customer support does HeroFX offer?
None. The service is unreachable and the help desk doesn’t serve its purpose.