I used Herofx from August 2023 to December 31 2023. As a US client if I had to choose an unregulated broker it would be Herofx. They stopped taking US clients recently and I had an account before that so they said I wouldnt be affected. Theres always a possibility that something unfavorable happens and they use this as ammo for an argument. I dont like being at such a disadvantage to my broker so I decided to withdraw 3 days ago. My deposits were in Eth and they were always in my trading account within minutes. Withdrawals are the important part. I had a total of $3500 in deposits and $288 in withdrawals. Was the ease of withdrawal due to me losing money overall? Thats something I cant confidently answer. My withdrawal took 3 days through Eth and I received $269 from my $288 total, 8% lost. Herofx decided to update their servers and CRM and this update locked everyone out of their trading accounts from Dec 7 to Dec 29. After 22 days and no communication even after they resumed servers, I messaged support because I couldnt sign in to my old trading account on mobile but I could on PC. Seems like they were using a loophole in the Metatrader licensing that doesnt accept unregulated brokers anymore. All around too sketchy for me. Raw spreads account had less than 1 pip on forex pairs and 0.6-3 pips on gold. The commissions are very high though at $16 per lot. Too high 2 stars based on high commissions and fees, sketchy business events, no regulators, and slow withdrawals.

2024-01-01 04:57

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