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The WikiFX Score of this broker is reduced because of too many complaints!


United States|5-10 years|
Regulated in Australia|Appointed Representative(AR)|White label MT4|Chinese market only|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|


Rating Index

MT4/5 Identification


White Label


Hong Kong



Influence index NO.1

China 5.19
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
HeroCapitalPty-Server MT4
Server Location Hong Kong




Influence index NO.1

China 5.19

Surpassed 92.76% brokers

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+886 437079319


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Contact number


+886 437079319

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Broker Information


Company Name




Platform registered country and region

United States

Company website

Pyramid scheme complaint


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This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2024-07-12
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • The number of the complaints received by WikiFX have reached 156 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0506122) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0506122)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

HERO · WikiFX Survey

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    HERO · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    HERO Review Summary in 10 Points
    Founded 2015
    Registered Country/Region United States
    Regulation ASIC
    Market Instruments Forex, CFD, precious metals
    Demo Account No
    Leverage 1:100
    EUR/USD Spread 0.2 points
    Trading Platforms MT4
    Minimum deposit $100
    Customer Support email

    What is 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, flexible leverage and low minimum deposit requirements for traders of all levels, as well as the MT4 trading platform for PC and mobile and using the STP-ECN model. HERO currently holds a Australia Securities & Investment Commission (ASIC) License (No. 001296201).

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    HERO's website

    Pros & Cons

    HERO offers a regulated trading environment with flexible leverage options and a user-friendly trading platform. The broker supports the leading MT4 platform with competitive trading conditions. However, its educational resources and market research tools are very limited. The deposit fees may be relatively high, and its product offerings are somewhat limited compared to other brokers. Additionally, the broker's website may be difficult to navigate for non-English and non-Chinese speakers.

    Pros Cons
    • Regulated by ASIC • Limited product offerings
    • SSL encryption • Monthly follow-up deposit fee
    • Flexible leverage options • Limited research tools
    • User-friendly MT4 trading platform • No cryptocurrency trading
    • No demo accounts
    • Limited payment methods
    • No live chat customer support

    HERO Alternative Brokers

      There are many alternative brokers to HERO depending on the specific needs and preferences of the trader. Some popular options include:

      • Admiral Markets - a well-regulated broker that offers a wide range of financial instruments and trading platforms.

      • Plus500 - a user-friendly CFD broker that is regulated by top-tier authorities and offers commission-free trading.

      • eToro - a social trading platform that allows users to copy the trades of successful traders and provides access to a variety of markets and financial instruments.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is HERO Safe or Scam?

    HERO appears to be a regulated broker that is regulated by Australia Securities & Investment Commission (ASIC) and takes measures to protect its clients' data through SSL encryption. However, it is important to note that regulatory compliance and data protection are only two aspects of a broker's overall safety and reliability. Other factors, such as trading conditions, customer service, and client feedback, should also be taken into consideration when assessing a broker's trustworthiness. It is recommended to conduct thorough research and due diligence before opening an account with any broker.

    Market Instruments

    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.

    Market Instruments


    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.

    Standard account
    VIP account
    ECN account

    Margin & 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. However, it is important to note that trading with high leverage can also increase the risk of losses, especially for inexperienced traders. It is recommended that traders fully understand the risks associated with leverage before choosing a particular option.

    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.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission per lot
    HERO 0.2 pips (ECN accounts) N/A
    Admiral Markets 0.5 pips $6.00
    Plus500 0.6 pips None
    eToro 1.0 pips None

    Note that the above information is subject to change and should be verified on the brokers' websites before making any trading decisions.

    Trading Platforms

    HERO Metatrader 4.0 (MT4) is HERO's advanced and efficient financial products trading platform for investors. The MT4 trading platform enjoys a leading position in the global capital markets. The MT4 provides dozens of default technical indicators, and investors can also develop or add their own technical indicators, along with advanced charting tools, to analyze the market trends and efficiently help investors to make smart decisions on investment analysis and easily grasp every trading moment. HERO supports PC, iOS, and Android systems.


    Overall, HERO's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

    Broker Trading Platforms
    HERO MetaTrader 4, WebTrader, HERO Mobile
    Admiral Markets MetaTrader 4, MetaTrader 5, WebTrader
    Plus500 Plus500 WebTrader
    eToro eToro WebTrader, eToro Mobile

    Note: Some brokers may offer additional trading platforms not listed here.

    Deposits & Withdrawals

    HERO can support various payment methods including domestic banks and international bank transfers, BPAY, Skrill and savings card payment, with a minimum amount of $100. HERO platform deposit will usually arrive within a working day.

      Payment options:

      • Debit Card, Bank Wire Transfer: International SWIFT

      • Bank Wire Transfer: Australia

      • BPAY (Australia only)

      • Skrill/Moneybookers

    payment methods

    HERO minimum deposit vs other brokers

    HERO Most other
    Minimum Deposit $100 $100

    HERO charges deposit fees. Monthly payment of the first monthly free of charge; monthly follow-up deposit each time the corresponding transfer costs charged about $25 once, depending on the charge of the gold bank may be. However, the customer is required to bear the additional costs incurred by the non-HERO platform, such as the handling fee charged by the bank refund, the handling fee charged by the bank during the deposit process.

    See the deposit & withdrawal fee comparison table below:

    Broker Deposit Fee Withdrawal Fee
    HERO $25 per deposit (except for first monthly free of charge) N/A
    Admiral Markets Free Free (1 withdrawal/month)
    Plus500 Free Free
    eToro Free (conversion fee may apply) $5

    Note: The fees may vary depending on the account type and payment method used. Please check the broker's website for the most up-to-date information.

    Customer Service

    For some basic questions, you can look for answers on its FAQ section, and if you need staff services, you can contact this broker via an email: HEROs website is only available in two languages: Chinese and English.

    Pros Cons
    • Fast response time to inquiries • No 24/7 customer support available
    • Dedicated account managers available for VIP clients • No physical office
    • No live chat support for potential clients

    Note: These pros and cons are subjective and may vary depending on the individual's experience with HERO's customer service.


    Overall, HERO is a regulated broker with a good reputation in the industry, offering a range of trading instruments and flexible leverage options. The broker's trading platforms are easy to use and suitable for both beginners and advanced traders. However, the customer service options are limited and there are some fees for deposit and withdrawal methods. Overall, HERO is a legitimate and reliable broker for trading in the financial markets.

    Frequently Asked Questions (FAQs)

    Q 1: Is HERO regulated?
    A 1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).
    Q 2: At HERO, are there any regional restrictions for traders?
    A 2: Yes. HERO does not accept US clients, for US CFTC regulators prohibit US customers from opening an account to foreign dealers.
    Q 3: How many accounts can I open in HERO?
    A 3: Yes. HERO limits each customer to a maximum of 5 transactions with the same name.
    Q 4: Does HERO offer the industry-standard MT4 & MT5?
    A 4: Yes. It supports MT4.
    Q 5: What is the minimum deposit for HERO?
    A 5: The minimum initial deposit to open an account is $100.
    Q 6: What is HERO customer service time?
    A 6: For Asia Pacific service area, its customer service time is Beijing Monday to Friday 09:00 ~21:30.
    Q 7: Is HERO a good broker for beginners?
    A 7: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform.

    User Reviews

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    Write a review

    more than one year
    They are relying too much on automation and not enough action when I phoned in many many times. I also found an email/ticket in my records from October 2023 asking them to help resolve the problem and was reminded how that contact didn't lead to resolution.
    2024-04-25 18:55
    more than one year
    This is a black platform, please stay away and pay attention to the risks
    2024-04-19 21:26
    more than one year
    I deposited my first deposit of US$500 using your platform, but I received your confirmation email saying that I deposited 484.65USD and asked me to deposit another 15.35USD. Please tell me why.
    2024-03-20 18:47
    more than one year
    I have used Hero platform twice, and honestly, I did not have much problems. One thing I have learned is that don’t rely on your broker too much, and developing you own strategies is much more important. I can give Hero four stars.
    2023-02-24 14:35
    more than one year
    Overall, I was satisfied with this broker in terms of its spreads offered, and speed of withdrawals, MT4 trading platforms… after all, I traded with it one year ago, and I don’t know how it performs now.
    2023-02-15 09:36
    more than one year
    This Hero Forex looks ok, but he doesn't seem to provide a demo account. I plan to search the Internet again, and if there are no major problems, I will open an account. Caution is never wrong!
    2022-12-15 09:40
    more than one year
    A friend of mine recommended the platform hero to me, and I feel great after reading the website and contacting their account manager. I am going to open a small standard account with a few hundred dollars to try it out!
    2022-12-14 16:45
    more than one year
    2022-11-28 03:24
    more than one year
    So far I have the impression that hero is a reliable online forex broker! As the trading conditions have been friendly, I can trade with low spreads on MT4. I really like this MT4 platform, very easy to use.
    2022-11-24 18:30


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