HeroFX Review 2024: Is it Legit or Scam?

Where every review is more than just words – it’s a trader’s compass. Broker Judge, guiding you through the forex market with clarity and expertise. Hero FX does not segregate client funds, which raises concerns about the safety of your money in case of unforeseen circumstances. Additionally, being a Market Maker creates a potential conflict of interest as they act as the counterparty to your trades. While this provides some level of oversight, it’s important to note that regulations in BVI may not be as stringent as those from established financial authorities like the FCA or CySEC. Choosing the right account type is crucial for optimizing your trading experience.

HeroFX Profile

For example, without regulatory supervision, brokers can run deceptive marketing campaigns, charge exorbitant hidden fees, deny withdrawals or disappear with clients’ money. While the St. Lucia Financial Services Regulatory Authority doesn’t license forex brokers on the island, HeroFX suggests that the authority oversees its activities on its website. That is misleading and a red flag against the broker’s claim of legitimacy. Economic calendars are provided to keep you on top of high impact news events like CPI, FOMC, NFP and others. These events can send the market into a frenzy and cause issues with your trades if you are unaware.

HeroFX Regulation / Money Protection

Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to share trading and selection of CFDs. Vantage rounds out its MetaTrader platform suite offering with support for multiple social trading platforms, content powered by Trading Central. Moreover, the broker has been the subject of many customer complaints over issues such as poor customer support and difficulties withdrawing money from the platform. They also hand over sensitive personal data to brokers when they sign up for an account to make deposits. Without regulatory oversight, brokers can abuse the data and expose clients to fraud.

To be honest herofx was scaring me a…

  1. The simple bot builder can help you quickly backtest and launch a trading bot based on several popular indicators.
  2. Friendly competitions even on demo accounts can be a great way to put your skills to the test against the trading elite.
  3. The Securities Investor Protection Corporation (SIPC)  provides protection for investors’ funds in brokerage accounts.
  4. One thing we like about HeroFX is the wide selection of trading instruments available here.
  5. HeroFX also offers trading in prohibited CFDs, which can put you in trouble with regulators.

That means that traders can lose more than their account balances and get into more financial problems. We invite YOU to become the HERO of your own story, and every hero needs to overcome the challenges they face. We are confident HeroFx will become your #1 trusted partner once you experience our world class services.

Since the broker doesn’t have a live chat for customer support, those looking for assistance have to contact it through phone or email. If you are on the go and don’t have a lot of time to sit and analyze the charts, trade signals can be very helpful. Our Signal Service includes forex, crypto-currency, indexes, spot metals, spot commodities and shares. Trading can seem like entering another world and speaking another language.

@dats_luis is a fraud and only makes his money from selling signals and promoting his brokers he’s affiliated with and I have proof because I used to be close with him. Check out our review of Charles Schwab, a highly trusted, multi-asset broker catering to U.S.-based and international forex traders. 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. StockHero works with TradeStation, Robinhood, TD Ameritrade, Alpaca, Stake (UK and Australia only), and Tradier. StockHero also offers paper trading with data from TradeStation, so you can use the platform to generate signals if you use a different broker.

Bruh, the only reason I tried herofx is because Lamboraul and Datsluis use it. Now I realize they must have a partnership or some kind of deal going on because this broker is very untrustworthy. I initially sent funds to my wallet and they said it was not on the blockchain. After i got my funds and paid the money I was allowed to trade a couple times. Then one day my account was locked until I verified my info.

You can set the maximum amount of money to allocate to the bot and how much the bot can use for each trade. You can also specify a trading frequency of 15 minutes, one hour, four hours, or one day. The bot won’t trade more frequently than your specified trade frequency, but it can trade less frequently depending on conditions. HeroFX customers have limited channels to get help when they need it.

According to an order filed by the Texas Real Estate Commission, Kyle Dwyer’s broker license is set to be on probation for two years, effective May 15, 2023 and must pay a $3,000 fine. In response to the situation, legal expert Terrance Dill emphasized the importance of documenting concerns for potential legal action or complaints. He noted that Texas has a robust consumer limefx complaint system where individuals can file grievances, leading to investigations and hearings. According to the Texas Real Estate Commission, the revocation of Dwyer’s license does not automatically invalidate existing agreements. However, they advise tenants and landlords to carefully review their lease terms and seek legal counsel for clarification on their obligations.

With HeroFX, these account types are simply known as the RAW Spread account and the No Commission account. Both of the account types support the full range of instruments offered https://forexhero.info/ by the broker, and are available for a minimum deposit of just USD 20. Hero FX, established in 2018, boasts a global presence with its headquarters in the British Virgin Islands.