HeroFX Review

HeroFX is a relatively new offshore forex broker, established in 2022 and registered in Saint Lucia. They have a largely positive feedback profile online from users thanks to their intuitive client portal, unique features like the Hero10X Account and especially their acceptance of U.S. clients (one of the few offshore brokers that still do).

HeroFX touts itself as a transparent, fast-executing broker with no hidden fees and support provided by real people whenever needed.

Setting up an account is simple with a streamlined back office that makes the process easy to follow. Although the KYC procedure is slightly more involved than some other offshore brokers (requiring both sides of a government-issued ID as well as a facial scan), it is handled smoothly. Once a user is verified, deposits can be made using a variety of options - including Apple Pay, Google Pay, debit cards and a broad selection of crypto such as USDT, USDC, Bitcoin, Ethereum, Tron, Polygon, Solana, Polkadot, and BNB Chain. Deposits are processed quickly there appear to be no fees on the broker’s side apart from standard network or card provider charges.

HeroFX offers four account types to cater to different styles of trading:

• Zero Commission Account - A minimum deposit of $5, spreads beginning at 1.0 pips, no commission fees and leverage of up to 1:500.
• Raw Spread Account - Also with a $5 minimum deposit, spreads starting from -0.4 pips, commissions from $1 per lot and leverage up to 1:500.
• Islamic Account - Used for swap-free trading, this account also starts at a $5 minimum deposit, spreads from 1.0 pips, commissions from $1 per lot and leverage up to 1:500.
• Hero10X Account - Gives traders instant access to 10 times the trading capital - and unlike with prop firms - without needing to pass challenges, follow hidden rules or give up a profit share! For example, buying a $500 account unlocks $5,000 in trading capital. The drawdown is capped at 10% of the initial balance, and all profits above that are 100% yours to withdraw at any time. This feature is quite unique among brokers.

All accounts use micro lot trading and can be used across multiple platforms. HeroFX provides access to the ever more popular TradeLocker - a modern, next-gen trading platform - available on web, desktop, and mobile. Additionally, traders can choose to use MetaTrader 4 or MetaTrader 5 which are available on desktop, iOS, Android and webtrader versions. Execution speeds are solid and there were no issues with slippage or requotes during testing.

HeroFX offers access to over 170 tradable instruments, including forex pairs, commodities, indices, and cryptocurrencies and shares. Leverage is available up to 1:500, depending on the instrument.

There are a couple of minor drawbacks worth noting. The ID verification process is more demanding than some may expect and there is no educational content available to new traders - which would be nice to have. Additionally, although the commissions are low and very competitive, spreads on the Raw Spread Account could be tighter compared to those offered by some leading ECN brokers.

All in all, HeroFX delivers a well-rounded trading experience with flexible account options, a good selection of platforms to choose from and standout features like the Hero10X model make them an attractive choice and worth trying out, particularly for U.S traders looking for a capable offshore provider.