Heart Forex Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-09-19 10:33

Abstract：Established in 2012 in New Zealand, HeartForex is an offshore broker that operates using STP/ECN execution models. It provides trading services in currencies, indices, CFDs and commodities via MT4. However, its license of FSC has been revoked and recently, it has no regulation.

　　Note: Heart Forex's official website: https://www.heartforex.com/ is currently inaccessible normally.

　　Established in 2012 in New Zealand, HeartForex is an offshore broker that operates using STP/ECN execution models. It provides trading services in currencies, indices, CFDs and commodities via MT4. However, its license of FSC has been revoked and recently, it has no regulation.

Pros and Cons

Pros	Cons
MT4 provided	Inaccessible website
STP execution	Light regulation
Commission-free	Regional restrictions
	High minimum initial deposits required on all but Challenge accounts

Is Heart Forex Legit?

　　Heart Forex claims it is regulated by the Financial Services Commission (FSC). However, it has been revoked and therefore, it is not regulated well now. Whats worse, its website is not accessible, which cause higher risks to trade on it.

Regulatory Status	Revoked
Regulated by	Belize
Licensed Institution	HEART CAPITAL LIMITED
Licensed Type	Retail Forex License
Licensed Number	Unreleased

What Can I Trade on Heart Forex?

　　Heart Forex offers trading of currencies, indices, CFDs and commodities including coffee, sugar and so on.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
CFDs	✔
Shares	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　Heart Forex offers Standard, Challenge, Swap-free and Premier accounts with the minimum deposits of $3,000, $1, $1,000 and $30,000 respectively. The minimum trade size on these accounts is 0.01. Besides, Challenge Account provides leverage up to 100x and the other accounts provides up to 200x. Besides, it offers floating spreads, varying by account type, and charges no commission fees. Standard account offers spread from 1.3 pips, Challenge from 2 pips, Swap-free account from 2.5 pips and Premier account from 0.7 pips, which are higher than other regular brokers.

Account Type	Minimum Deposit	Minimum Trade Size	Leverage	Minimum Spread
Standard	$3,000	0.01	Up to 200x	From 1.3 pips
Challenge	$1		Up to 100x	From 2 pips
Swap-free	$1,000		Up to 200x	From 2.5 pips
Premier	$30,000		Up to 200x	From 0.7 pips

Deposit and Withdrawal

　　Heart Forex provides bank wire transfers, China UnionPay and i-Account. I-Account is a financial platform designed for managing fund transfers, international wire transfers, foreign exchange, bulk payments, and more. Users can access their accounts from any PC, tablet, or smartphone, with no restrictions on time or location.

Trading Platform

　　HeartForex provides its trading services through the widely-used MetaTrader 4 (MT4) platform. MT4 is accessible via PC, web, and mobile versions (including apps for iPhone, iPad, and Android).

　　MT4 equips traders with essential tools such as rapid order execution, a range of technical indicators, advanced charting capabilities, and the functionality to create and use Expert Advisors (EAs).

Customer Service

　　Heart Forex supports phone and email for their traders to contact them.

Contact Options	Details
Phone	400-992-238 / 4009922381
Email	support@heartforex.com / customersupport@heartforex.com
Support Ticket System	❌
Online Chat	❌
Social Media	❌
Supported Language	❌
Website Language	English
Physical Address	35 Barrack Road 3rd Floor, BELIZE CITY, Belize C.A.

The Bottom Line

　　In conclusion, HeartForex offers forex services via MT4 and four types of accounts. But its revoked license of FSC, unavailable website, and regional restrictions decrease its reliability.