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.
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.
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.
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).
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.
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.
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.
