WikiFX Review: Can you give credit to a broker named HERO?

Specs of HERO

About HERO

HERO Capital opened its China market in 2015, setting up branches in Shanghai and Shenzhen, China to provide Chinese investment institutions and individual investors with online forex trading services. HERO offers investors a wide range of financial products, including foreign exchange currency pairs, CFDs, precious metals, and crude oil products. Overall, tradable assets listed on HERO assets seem quite limited compared with many other brokers.

Account Types & Minimum Deposit

HERO offers investors three types of real trading accounts: Standard (minimum opening amount of $100), VIP (minimum opening amount of $2,000), and ECN (minimum opening amount of $30,000). The initial deposit of $100 sounds quite reasonable for most regular traders to get started. Note that HERO limits each customer to a maximum of 5 transactions with the same name.

Leverage

The default margin is 1%. HERO offers flexible leverage options of 20:1, 50:1, and 100:1, for traders to choose in light of their risk tolerance.

Spreads & Commissions

HERO's website only states that it offers the most competitive spreads to its clients but does not provide much information on the spreads of each product. The only spreads available are 4.5 pips for gold and 3.0 pips for silver. Additionally, the average EURUSD spread on ECN accounts is 0.2 pips, but on top of that, the broker may charge a commission on the transaction.

Trading Platforms

This broker uses Metatrader 4.0 (MT4) as its main trading platform for investors.

Regulatory Status of HERO

HERO claims to be a regulated broker that is regulated by the Australia Securities & Investment Commission (ASIC) and takes measures to protect its clients' data through SSL encryption. However, on WikiFX, this broker has been considered “Illegal”. Moreover, this broker gets involved in a Ponzi scheme.

WikiFX has given this broker a low score of 1.57/10.

Complaints

As of Feb 10th, 2025, WikiFX has received more than 180 complaints against this broker.

Many traders from Hong Kong accused this broker of rejecting withdrawals. Overall, there are many other complaints related to this broker. We cannot show them all here. The biggest problem that many traders pointed out is that this broker blocks the withdrawal requests.

Conclusion

WikiFX advises you to avoid this broker as Ponzi sheme may take your assets away fraudulently. Unscrupulous brokers are usually unregulated brokers with extremely low WikIFX scores. Please be aware of the risk.

If you want more information about certain brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX App to find your most trusted broker.