Hero FX Exposed: Withdrawal Denials, Trade Freezes & Scam Claims

Facing trade freezes and subsequent losses at Hero FX whenever there is important news about to break? Does the broker charge you excessive withdrawal fees? Does the MT5 trading platform provided by Hero FX function too slowly? Are you disappointed with its poor customer support service? You have, unfortunately, trusted the scam forex broker, which has been in the news for all these wrong reasons. Many traders have expressed these concerns on several review platforms. In this article, we have shared their concerns. Have a look.

Top Allegations Against Hero FX

Not Letting Users Trade During Important News Announcements

Forex markets, to a large extent, are dependent on the fundamental factors that involve fresh developments on the economic front. There is a strong accusation that Hero FX does not allow traders to trade when the news about any tradable asset, such as forex, commodity, index, etc. By creating a trade freeze during this crucial moment, the broker disallows traders from gaining an upper hand or losing their hard-earned capital. This strong allegation made by the trader made us highlight it. Take a look!

Closing the Trade at the Wrong Time

The freezing of the MT5 platform is regular at Hero FX, resulting in trade losses and missed opportunities. During such times, if a trader cannot open or close trades effectively, it will lead to a poor experience. Also, if trades are found profitable, the broker should not close them at that point. Presenting below a screenshot where the trader has complained about it.

Trading Server Crashes, Expensive Withdrawal Fees Make Experience Even Worse

The MT5 platform run by Hero FX often crashes during market hours, preventing traders from taking crucial positions in the market. It thus becomes a reason for potential trade losses. While that holds, the withdrawal process is no better. It takes a lot of traders to receive withdrawals, and that too, after paying an expensive fee. Some do not get approvals for withdrawals even. Here are multiple screenshots containing these grave trading issues.

Account Suspension Due to Miscommunication & Flawed Verification Process

Traders criticize Hero FX heavily for its ineffective customer support system. The verification carried out by the broker through a third party is alleged to be flawed. For some reason, traders are not verified thoroughly. As a result, traders complain to the customer support system, where the officials tell them that they are verified. But very soon, traders get informed of an unverified status, resulting in their account suspension. How can traders trust Hero FX when its officials communicate things incorrectly? A serious breach of the code of conduct comes through with this accusation. Check the screenshot to know the situation even better.

Why Should You Not Trust Hero FX?

Hero FX is not trustworthy for obvious reasons, including trading foul play, miscommunication, a poor trading server, and so on. These issues, combined with a lack of regulatory license to conduct forex business, do not inspire confidence for Hero FX. As a result, it gains a poor score of 2 out of 10 from the WikiFX team.

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