Hero FX is a forex broker registered in Saint Lucia on July 31, 2023. It primarily offers trading services in financial derivatives like forex, precious metals, indices, energy, futures, cryptocurrencies, and stocks. The company's headquarters location is unknown. The broker does not offer services to jurisdictions where it may violate local laws or regulations, such as the United States and Sweden.
Company Registration Information and Regulatory Status
According to the information available on Hero FX's (herofx.co) official website, it is registered at the International Business Companies and International Trust Registry (ifc) in Saint Lucia. The corporate entity is Hero FX Limited, with a registered office at Financial Services Regulatory Authority St. Lucia W.I, 6th Floor, Francis Compton Building Waterfront, Castries, and the registration number is 2023-00356. However, this broker does not disclose its regulatory information on the website.
Upon verification, it is possible to find a registered company named Hero FX Limited with the registration number 2023-00356 at the International Business Companies and International Trust Registry in Saint Lucia. However, no regulatory information about this entity is found at the Saint Lucia Financial Services Regulatory Authority (FSRA). Also, no regulatory information about this broker is found at major regulatory bodies such as the Financial Industry Regulatory Authority (FINRA) in the United States, the Financial Conduct Authority (FCA) in the UK, or the Australian Securities and Investments Commission (ASIC).
Therefore, Hero FX (herofx.co) is essentially an unregulated scam broker website.
Trading Instruments
Hero FX offers its clients a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, allowing traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of entire markets or specific sectors without trading individual stocks. Exploring popular indices can reveal diverse trading opportunities and leverage to enhance potential returns.
- Futures: Futures trading covers key resources in global markets, allowing traders to buy and sell various raw materials including metals, energy, and agricultural products.
- Stocks: Stock trading enables investors to engage in the price fluctuations of public companies, earning from price changes based on company performance and dividends without actually holding the stock.
- Cryptocurrencies: Cryptocurrency trading provides digital currency enthusiasts with opportunities to profit from highly volatile assets.
Account Opening
To open an account with Hero FX, visit the broker's website and click "OPEN FREE ACCOUNT" at the top right of the homepage to access the account registration page. Fill in your name, personal email address, phone number, and set a password as required, then submit. After submission, the broker will send a confirmation link to the provided email address. Click on this link to confirm the email, and the account will be successfully registered. Successful account registration requires identity verification to deposit and trade.
Account Types
Hero FX offers three types of real trading accounts: Zero Commission, Raw Spread, Islamic Account.
Zero Commission:
- Spread: Starting from 1.5 pips
- Zero commission
- Hedging allowed
- EA support
- Trading instruments: All currency pairs
Raw Spread:
- Spread: Raw spread, starting from 0.0 pips
- Fixed commission
- Hedging allowed
- EA support
- Trading instruments: All currency pairs
Islamic Account:
- Spread: Raw spread, starting from 0.1 pips
- Fixed commission
- Hedging allowed
- EA support
- No swaps/interest adjustments
Trading Platform
Hero FX claims to offer users its self-developed trading platforms HX4 and HX5, including web and mobile versions. However, during the installation process, the mobile software could not be downloaded, and the download process did not resemble that of legitimate software.
Deposits and Withdrawals
Hero FX supports deposits through cryptocurrencies, CashApp, Apple Pay, Google Pay, debit cards, etc., and withdrawals through cryptocurrencies.
Conclusion
Trading Circle reminds investors that Hero FX is essentially an unregulated scam broker site, and its contact method is limited to email communication. Investors are advised to opt for brokers that are transparent, highly regulated, and have a good reputation for investment trading activities to avoid unnecessary losses of their assets.
