In this HeroFx Review, we will look at HeroFx in detail to see if HeroFx is a legit broker to trade with. Below is the summary of the HeroFx Broker.
Summary
| Assets Available | 7 Asset Classes – Forex, Metals, Indices, Energies, Crypto, Futures and Stocks |
| Regulated by | Not Regulated |
| No. of Trading Platforms | 4 Trading Platforms – MT4, MT5, Web Trader, Mobile Trader |
| Leverage | 1:500 Leverage |
| Spreads | Low as 0.01 pips on Raw Spread account |
| Commission | Zero Commissions on “No Commissions” account |
| Min Deposit | $20 Minimum Deposit |
| Demo Account | Yes |
| Education Provided | Yes, HeroFx Academy |
| Deposit Methods | Bitcoin, Tether, Cash App, Apple Pay, Google Pay, Debit Card and Bank Wire Transfer |
| Withdrawal Methods | Bitcoin and Tether |
Top Forex Brokers
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Broker Background
Trading Platforms
HeroFx provides trading platforms to trade on the web, desktop and on mobile. For desktop, this broker provides the Metatrader 4 and MetaTrader 5 trading platforms. For mobile and web trading, HeroFx Provide their own trading platform. Figure below shows the HeroFx mobile trading platform.
The MT4 and Mt5 Platforms that is provided by this broker are great trading platforms. Both of these trading platforms provides you with all the necessary tools to analyse the markets and execute trades. These trading platforms also supports algorithmic trading.
Instruments Available For Trading
There are 6 asset classes available for trading with HeroFx. These are Forex, Metals, Indices, Energies, Crypto, Futures and Stocks.
Forex
You can trade Majors, crosses and exotics with the HeroFx Broker. Totally up to 71 forex currency pairs.
Metals
There are 7 metals that you can trade with HeroFx Broker. These are, XAGEUR, XAGUSD, XAUEUR, XAUUSD, XPDUSD, XPTUSD and XAUAUD.
Energies
There are 3 energies that you can trade with HeroFx broker. These energies are natural gas, UK oil and US oil.
Crypto
There are a range of cryptocurrencies that you can trade with this broker. These include Bitcoin, Ethereum and Litecoin.
Futures
With the HeroFx Broker you can trade 5 different futures. These are, COCOA, COFFEE, COPPER, COTTON and SUGAR.
Stocks
With HeroFx you trade multitude of stocks ranging from Adidas stocks to IBM.
Regulations
HeroFx is not regulated. It is very risky to trade with a non regulated broker like HeroFx. Always choose a broker that is regulated by a tier 1 regulator such as Australian Securities & Investment Commission (ASIC). You can refer to the top brokers table at the top of this article if you want to trade with a tier 1 regulated broker.
Account Types
HeroFx provides you with 2 different types of accounts. These are raw Spread account and no commission account. The following figure shows the 2 types of accounts.
Commissions And Spreads
Commissions and spreads depends on the account type you open with HeroFx Broker. For the Raw Spread Account type, the spreads can go low as 0.01 pips and have flat rate commissions. For “No Commission” account type, the spreads are quite high, starting at 1.5 pips but the commissions are zero.
Leverage
HeroFx provides a leverage up to 1:500. This is pretty standard for most brokers. High leverage can be beneficial if you are confident about your trading.
Education Provided
This broker does provide education for learning how to trade. The education is given through video and eBook format. This education is only good for beginners. If you want a complete guide on how to trade the forex market, check out our guide.
Minimum Deposit
The minimum deposit required to trade with HeroFx is $20. This is a low requirement but not the lowest in the industry. There are regulated brokers like XM that only require a $5 minimum deposit to get started.
Awards
Herofx is not an award wining broker. This broker has not won any awards
Methods Of Payment (Deposit and Withdrawal)
HeroFx provides you with a range of deposit and withdrawal options. For deposit, the options are Bitcoin, Tether, Cash App, Apple Pay, Google Pay, Debit Card and Bank Wire Transfer. HeroFx only provides two withdrawal methods, these are Bitcoin and Tether.
Customer Service
You can contact HeroFx customer support through email and phone. You can also reach them through social media such as Facebook and Instagram.
Demo Accounts
This broker does provide a demo account to practice your trading skills.
Is this broker legit?
HeroFx is not a regulated broker, so it is hard to say that HeroFx is a legit broker. We do not recommended to trade with a non regulated broker. If you are interested in trading with a broker regulated by a tier 1 regulator, check out the table below.
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