Company information
HeroFX is a forex broker located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).
Availability
HeroFX accepts clients from all over the world, excluding most OFAC and FATF sanctioned countries.
Distinctive features
- Simple registration and verification process.
- Trading guides, e-books and e-courses (available after registration).
- Cryptocurrency funding accepted.
Trading instruments
Forex broker offers the following underlying assets for trading.
| 70+ Currency Pairs | Based on major and minor world currencies. |
| 25+ Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Zcash, BNB, Cardano, EOS, OmiseGO, Dash, Metaverse ETP, Santiment Network, Iota, Stellar, Monero, Tron, Qtum and others. |
| 9 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 8 Metal CFDs | Based on Gold, Silver, Platinum, Palladium and Copper. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 4 Soft CFDs | Based on Cocoa, Coffee, Cotton, Sugar. |
| 50+ Stock CFDs | Based on shares of highly capitalized US companies. |
Comprehensive review
Registered in the British Virgin Islands and operational from 2022, HeroFX is a new offshore forex broker that offers very high trading leverage of up to 1:500, and the option to fund trading accounts with crypto.
The broker stands out from many others by being mainly reliant on crypto for deposits and withdrawals, using either Bitcoin (BTC) or the stablecoin Tether (USDT) over the Ethereum network (as an ERC-20 token transfer).
Other than crypto, trading accounts can also be funded by using Apple Pay or Google Pay, Visa, MasterCard, and Cash App (in the US & UK), offering several convenient options for HeroFX users.
One thing we like about HeroFX is the wide selection of trading instruments available here. This includes more than 25 unique crypto pairs, stocks of more than 50 large-cap US companies, well over 70 forex pairs, as well as a pretty standard selection of stock indices and commodities.
The platforms supported by HeroFX include both the legendary MetaTrader 4 (MT4), as well as the newer MetaTrader 5 (MT5) platform. Both of these platforms are well-known in the forex trading community, and remain popular to this day for their amazing selection of custom technical indicators and trading strategies. Both MT4 and MT5 are originally designed for use on Windows computers, but versions now also exist for use in web browsers on any type of computer, and as mobile apps for Apple and Android phones.
Another option for trading with HeroFX is to use the TradingView web-based charting platform directly to place orders. As of 2023, HeroFX says on its website that this option is “coming soon.” Such an addition would in our opinion be a great improvement for the broker, and would put it on par with other major forex brokers who have done the same, including Oanda, Pepperstone and Saxo Bank.
Like most forex brokers, HeroFX offers its clients the choice between a trading account with small spreads and commissions on trades, and a trading account with larger spreads and no commissions on trades. 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 by the broker, and are available for a minimum deposit of just USD 20.
In case of any issues during the sign-up process or later during trading, HeroFX’s customer support can be reached via email or a phone number registered in the Czech Republic. Strangely, the broker is one of just a few that we have seen with no live chat option available on its website.
In conclusion, we see HeroFX as a forex broker with a great potential, especially for native crypto users who want to be able to fund their forex trading account with crypto. However, given how new this broker is, we also think it has yet to prove itself.
One of the areas the broker should focus on improving is to offer even better spreads and commission fees. In addition, we would like to see an overhaul of the content on the website to make the information there clearer for everyone. The way the website appears at the moment, it is clear that it has been written by people with little understanding of trading, and the information provided is therefore - for the most part - not useful.
FAQs
This broker has mostly negative reviews. There are many complaints from platform glitches, and issues with withdrawals and high fees. The TrustPilot score for HeroFX is 2.9 stars for 29 reviews. 21% of users give this platform 5 stars, mostly citing the quality of the customer support.
Is HeroFX a good broker? ›
That means Hero FX is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Is HeroFX regulated in the US? ›
Hero FX is registered in the British Virgin Islands and operates under no regulations.
How long has HeroFX been in business? ›
Registered in the British Virgin Islands and operational from 2022, HeroFX is a new offshore forex broker that offers very high trading leverage of up to 1:500, and the option to fund trading accounts with crypto.
Is HeroFX on TradingView? ›
The safest choice when buying HERO is to go to a well-known crypto exchange. Some of the popular names are Binance, Coinbase, Kraken. But you'll have to find a reliable broker and create an account first. You can trade HERO right from TradingView charts — just choose a broker and connect to your account.
How long does it take to withdraw from HeroFX? ›
How long is HeroFX withdrawal? The HeroFX withdrawal time can take up to 24 hours to be reviewed and sent, but if they happen to be longer, get in touch with the customer support.
Who is the number 1 online broker? ›
After hundreds of hours of comprehensive research, data analysis, and live broker platform demos, Fidelity Investments is our best overall online brokerage platform for investors due to its low fees, expansive product offering, wide-ranging full-service features, and so much more.
What is the best forex broker in the USA? ›
Best Forex Brokers
| Best Overall, Best for Range of Offerings | CMC Markets |
|---|
| Best Forex Broker for Advanced Traders | Saxo Capital Markets |
| Best Forex Broker for Low Costs | XTB Online Trading |
| Best Forex Broker for U.S. Traders | IG |
| Best Forex Broker for Trading Experiences | Pepperstone |
1 more rowBest Forex Trading Platforms
IG - Most trusted, great for beginners. CMC Markets - Best platform technology. Interactive Brokers - Best for professionals. TD Ameritrade FX - Best desktop platform (U.S. only)
What is the 90 deposit bonus on Herofx? ›
We discovered that it is run by the British Virgin Islands, which is infamous for low financial regulation. As a result, the 90% deposit bonus is simply a scheme to defraud innocent people. It is best to consider it a Scam, avoid it, and check the credibility of any Broker with a single click on Wikifx.
Hugo's Way is a non-regulated online broker, registered in St. Vincent and the Grenadines. It offers mainly CFDs for trading, but stocks and cryptos are available as well. Mostly because of the lack of regulation and available financial information, we do not recommend trading with Hugo's Way.
What is the leverage on hero FX? ›
HERO offers flexible leverage options of 20:1, 50:1, and 100:1, for traders to choose in light of their risk tolerance. However, it is important to note that trading with high leverage can also increase the risk of losses, especially for inexperienced traders.
What time does the hero FX market open? ›
The Forex market is open 24 hours a day, five days a week!
Which country owns TradingView? ›
TradingView was founded in 2011 by Konstantin Ivanov (CTO), Denis Globa (CEO) and Stan Bokov (COO). TradingView is headquartered in New York and has its European market headquarters in London.
How legit is TradingView? ›
It offers a wide range of features and tools, including real-time data, customizable charts, technical indicators, drawing tools, and social trading capabilities. While TradingView is generally well-regarded by traders and investors, there are some limitations and criticisms to consider.
What is the best broker to use with TradingView? ›
Best Forex Brokers for TradingView
- Saxo - Best web-based trading platform.
- Interactive Brokers - Great overall, best for professionals.
- FOREX.com - Excellent all-round offering.
- City Index - Excellent all-round offering.
- FXCM - Excellent trading platforms and tools.
- Capital.com - Great for beginners, easy to use.
Best Forex Brokers for 2024
- IG - Best overall broker, most trusted.
- Interactive Brokers - Great overall, best for professionals.
- Saxo - Best web-based trading platform.
- CMC Markets - Excellent overall, best platform technology.
- FOREX.com - Excellent all-round offering.
- TD Ameritrade - Best desktop platform, U.S. only.
Best Overall - Zerodha
Zerodha, a top discount broker, excels in trading and demat account services. Positive reviews, a user-friendly interface, affordable fees, diverse investment options, and useful features like technical indicators and advanced charting tools make it the best choice overall.
What is the most trusted broker in the world? ›
Interactive Brokers holds the title of “best for professional traders” thanks to its wide range of highly customizable tools, investment options, and research. Investors can also trade in foreign markets and hold multiple currencies, for those interested in forex trading.
What is the most reliable stock broker? ›
Summary of the best online brokers:
- Fidelity Investments.
- Interactive Brokers.
- Charles Schwab.
- Webull.
- J.P. Morgan Self-Directed Investing.
- Robinhood.
- SoFi Active Investing.
- E*TRADE.
