Hero FX

Hero FX broker is a forex and CFD brokerage registered in Saint Lucia that has been operating since 2021 and offers more than 170 trading instruments on MetaTrader 5 and TradeLocker. A bonus account and a very low minimum deposit are among its advertised features, but the lack of regulation is the most important thing you need to know about it. In this overview, the Teagle editorial team reviews HeroFX's accounts, payments, risks and service availability for Iranians based on recorded data.

What kind of broker is Hero FX?

HeroFX is a young broker with about 5 years of history. Its tradable instruments include forex pairs, stocks, indices, commodities and cryptocurrencies, and deposits and withdrawals are mainly made via cryptocurrencies and bank cards. Scalping, hedging and the use of expert advisors are allowed with this broker. Its main focus is attracting traders interested in bonuses and starting capital.

Hero FX licenses and credibility

Teagle's list of registered licenses contains no license for Hero FX. The broker's website also only mentions company registration in Saint Lucia; company registration is different from an operating license from a financial regulator, which is why HeroFX is considered unregulated. This means no reputable financial authority oversees the protection of client funds, and in the event of a dispute there is no body to file a complaint with. According to Teagle's expert, this creates a high risk to the safety of your capital. We have explained the difference between regulated and unregulated brokers in the article Broker regulation and how it is graded .

Does Hero FX serve Iranians?

No. HeroFX has explicitly stated that its services are not available to residents of regions under international sanctions, including Iran. Accessing the website from Iran requires changing your IP, and there is no Persian-language support. Teagle's expert warns that, in addition to the lack of dedicated services, users residing in Iran face a serious risk of having their assets frozen, and with no regulator, there is no legal protection either.

Hero FX trading accounts

Hero FX offers five accounts on MetaTrader 5 and TradeLocker. On all accounts, the minimum deposit is $5 with crypto and $30 with other methods, spreads are floating, maximum leverage is 1:500, the margin call level is 100% and the stop-out is 60%:

• Zero Commission account: no commission, spreads from 1 pip.
• Raw Spread account: spreads from 0.4 pips and a commission of $16 per lot.
• Hero 10X account: spreads from 1 pip and a commission of $20 per lot.
• Bonus Account: spreads from 1 pip, with commission (amount not recorded).
• Islamic (Swap-free) account: spreads from 0.4 pips, with commission; the only swap-free account.

Commissions of $16 and $20 per lot are far above the market average, and "high commission" is also listed among this broker's drawbacks. To see how much these figures cost you on each trade, read the article Pips and lots explained and how to calculate them . Requote status is not specified for any account.

Hero FX platforms and services

Trading at HeroFX takes place on MetaTrader 5 (Windows, Mac, Android and iOS) and TradeLocker; MetaTrader 4 is not supported. Additional services include bonuses, education, expert advisors and trading robots, a virtual private server (VPS), an economic calendar and a forex calculator. Bonuses and "starting capital" are this broker's main draw; before accepting any offer, compare its terms with the offers listed on the broker bonuses page and remember that a bonus at an unregulated broker does not reduce the risk to your principal capital.

Deposits and withdrawals at Hero FX

According to Teagle's data, deposits are free and instant with all methods, and withdrawals are processed within 24 hours:

• Tether, Solana and other cryptocurrencies: minimum deposit $5, free withdrawals.
• Bitcoin and Ethereum: minimum deposit $15, free withdrawals.
• Visa/Mastercard cards and Apple Pay/Google Pay: minimum deposit $30; withdrawal fee not recorded.

If you use Tether, keep in mind the tips in the article Common mistakes when buying Tether .

Hero FX rating and risk on Teagle

Hero FX's final rating on Teagle is 2.18 out of 5, derived from only two sources: Trustpilot 3.3 and WikiFX just 1.06; no Teagle user has left a review for it yet. The Teagle Eye risk index for HeroFX is 76 out of 100, in the "high risk" category; the absence of any active license, low credibility scores and a short track record account for this figure. You can review this broker alongside other high-risk options in Teagle's list of high-risk brokers .

Hero FX pros and cons

• Pro: variety of trading accounts
• Pro: support for MetaTrader 5 and TradeLocker
• Pro: bonuses and a very low minimum deposit
• Con: no regulation and no legal protection
• Con: high commission on commission-based accounts
• Con: no service for Iran, no Persian language and no MetaTrader 4

Who is Hero FX suitable for?

According to Teagle's expert, Hero FX appeals to traders looking for bonus accounts; however, it is not suitable for Iranian traders or those who care about regulation. If bonuses matter to you, weigh it against a broker with a longer track record in the Hero FX vs FBS comparison .

Conclusion

HeroFX has easy entry requirements and a variety of accounts, but being unregulated, its high risk index and its ban on Iran make it a high-risk option. If you still intend to try it despite these points, start only with an amount you can afford to lose, make a test withdrawal before anything else, and follow the latest warnings on the investment risk warning page .