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HERO Trading Platform Review: High Risk (Suspected Scam)

TraderKnows
TraderKnows
05-10

HERO, a forex trading platform founded in 2016, will be evaluated in this article on regulatory licenses, trade types, software, security, deposit/withdrawal channels, and leverage ratios.

HERO Company Overview:

HERO primarily offers investors trading services in financial derivatives such as forex, precious metals, crude oil, and stocks. According to the domain registration information obtained through a Whois query, the company's official website domain was registered on October 26, 2016, just over six years ago. While HERO's official website does not disclose information about the company's registered location, the domain registration information indicates the United States as the location.

官网域名信息Whois查询

Is HERO Compliant and Legal? Does it hold relevant financial regulatory licenses?

There is a notable contradiction in the regulatory information presented on HERO's official website. While the Chinese version of the HERO website claims regulation by the Australian Securities and Investments Commission (ASIC) and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the English version fails to provide any information about the company being regulated by ASIC and FINTRAC. Moreover, a query to FINTRAC confirms the company's regulation under MSB (Money Services Business), but there is no information found regarding ASIC regulation.

官网显示监管信息(中文)

官网信息监管信息(英文)

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Trading Instruments Offered by HERO:

HERO, as outlined on its product page on the official website, mainly provides trading services for financial assets such as forex, precious metals, crude oil, and stocks.

官网显示交易产品信息

Trading Software Provided by HERO:

On the HERO official website, the software download link offered is for the MetaTrader 4 (MT4) trading software, available for Windows PCs and mobile devices (IOS/Android).

官网显示交易软件信息

Fund Security:

HERO has not disclosed any third-party fund regulatory information on its official website, leaving users' fund security without clear guarantees.

Deposit and Withdrawal Channels:

The broker displays potential collaboration channels for deposits and withdrawals on its homepage (such as MasterCard, UnionPay, VISA, SecurePay, CASH), along with minimum deposit amounts, processing times, withdrawal fees, and processing times. However, specific information about supported deposit and withdrawal channels and currencies is not explicitly provided on the official deposit/withdrawal page.

官网显示存取款信息1

官网显示存取款信息2

Leverage Ratio:

The broker advertises a high leverage ratio of up to 1:200, while generally compliant brokers maintain leverage ratios ranging from 1:10 to 1:100.

官网显示保证金比例信息

Conclusion:

HERO is a forex broker engaging in illegal financial activities by using false regulatory information. The broker has not disclosed critical information concerning fund security. TraderKnows warns users that HERO is a high-risk forex broker, recommending staying away from this platform to prevent potential personal financial losses. Currently, HERO is labeled as "Suspected Fraud" on TraderKnows.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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Pig Butchering Scam

The 'Pig Butchering Scam' is a type of financial fraud that originated in Southeast Asia, but has now become prevalent globally. The name stems from the scammers' method of dealing with their victims: similar to raising pigs, they first 'fatten' them by building trust, and then 'slaughter' them by swindling away all their money.

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