Hero Markets
Basic Information
Pros and Cons
Pros
- Regulated by CYSEC
- Demo accounts available
- A wide range of trading products
- No fees for deposits/withdrawals
Cons
- Exceeded FSCA license
- Limited customer support channels
- MT4 & MT5 unavailable
- Inactivity fee charged
Is Hero Markets Safe and Legit?
Hero Markets, established in 2016 and registered in Cyprus under the name Trade Capital Markets (TCM) Ltd, operates with a Market Making License (MM) regulated by the Cyprus Securities and Exchange Commission (CYSEC). The broker offers a range of trading conditions, including Forex, commodities, indices, cryptocurrencies, shares, and CFDs, with a minimum deposit requirement of €100 and a trading platform based on WebTrader.
The regulatory status of Hero Markets indicates it is legally operating under CYSEC; however, its Financial Services Conduct Authority (FSCA) license status is reported as exceeded. Overall, this suggests that while it is a regulated entity, potential clients should be cautious regarding the FSCA license.
In terms of market reputation, Hero Markets has received mixed reviews, with users generally appreciating the wide range of trading products and the absence of deposit and withdrawal fees. However, some concerns have been raised regarding limited customer support channels and the frequency of inactivity fees. Community feedback indicates a moderate level of complaints, which users often attribute to service responsiveness and account management issues.
Is Hero Markets a Regulated Broker?
What Are the Regulatory Licenses Held by Hero Markets?
Hero Markets operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CYSEC) with a Market Making License. However, it is important to note that its Financial Services Conduct Authority (FSCA) license status is reported as exceeded. This indicates that while Hero Markets is regulated by CYSEC, caution is advised regarding its FSCA license status, as it may not hold valid licensing under that authority.
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Hero Markets prioritizes the security of client funds by holding them in independently regulated bank accounts that are separate from the broker’s own assets. This segregation of funds is aligned with the regulatory requirements set forth by the Cyprus Securities and Exchange Commission (CYSEC).
Hero Markets Leverage
Hero Markets offers varying leverage multiples based on account type and trading product. The maximum leverage for retail clients is compliant with the legal limits established by CYSEC, ensuring that trading conditions meet regulatory standards while accommodating both retail and professional client classifications.
Hero Markets Withdrawal Review
How to Contact Hero Markets?
Does Hero Markets Have Withdrawal Issues?
Hero Markets has received mixed feedback from users regarding withdrawal issues. Common complaints center around service responsiveness and account management, with a moderate volume of complaints noted. Credible sources of these complaints include online trading forums and review platforms, where users express concerns about response times. While there are no significant public complaints or regulatory penalties reported related specifically to withdrawals, the broker’s limited customer support channels may contribute to user frustrations. Overall, the volume of complaints remains relatively low, suggesting a manageable situation for clients.
Frequently Asked Questions
A1: Yes, Hero Markets is a legitimate broker regulated by the Cyprus Securities and Exchange Commission (CYSEC) under a Market Making License. However, it is important to note that its Financial Services Conduct Authority (FSCA) license status is reported as exceeded.
A2: Hero Markets prioritizes client fund security by holding them in independently regulated bank accounts that are segregated from the broker’s own assets, in compliance with CYSEC regulatory requirements.
A3: Users have reported mixed experiences regarding withdrawal issues with Hero Markets, mainly concerning service responsiveness and account management. While there are no significant public complaints related specifically to withdrawals, the limited customer support channels have contributed to user frustrations.
A4: Hero Markets offers limited customer support channels, including email at support@heromarkets.com, and is active on social media platforms like Facebook and Instagram. Support is available from Sunday 22:00 to Friday 22:00 GMT.
A5: Hero Markets provides a trading platform based on WebTrader. However, it does not offer MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.