HeroFX is a forex broker located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).
HeroFX accepts clients from all over the world, excluding most OFAC and FATF sanctioned countries.
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.|
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 100% reliant on crypto for deposits and withdrawals. Here, bank transfers or credit cards are not options, and clients are instead asked to use the cryptocurrencies Bitcoin (BTC) or Ethereum (ETH), or the stablecoin Tether (USDT) over the Ethereum network (as an ERC-20 token transfer) to make deposits.
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.
These people stole my deposit. It's been 20 hours. No customer service. I switch to this platform without reading up on it. They say they can't find my money, but the blockchain says my deposit got processed.