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Herdos Review - is it scam or safe?

Herdos Review - Is herdos.com scam or good forex broker?

RATING: 1 / 5 REVIEWS
Herdos is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit
Maximum leverage Spread
Basic $1,000 1:100 Fixed, from 3 pips*
Bronze $5,000 1:100 Fixed, from 3 pips*
Silver $10,000 1:100 Fixed, from 3 pips*
Gold $50,000 1:100 Fixed, from 3 pips*
Platinum $100,000 1:100 Fixed, from 3 pips*

*the different account types with this broker don’t provide tighter spreads, but various other non-trading privileges. Some of them may actually not be that beneficial, read the full review for all the derails.

 

Herdos is a forex and CFD broker, allegedly operating out of Macau. Their offer has a lot of flaws, but in order to be completely objective, we will start off with the positives we manged to find.


Herdos Advantages


A lot of assets traded

Herdos presents its client with a very diverse list of CFDs. They include not only your typical forex pairs, but also commodities, indices, a few specific stocks and cryptocurrencies. Few brokerages provide such a range.


Decent leverage

One can say leverage is a “necessary evil”, when it comes to forex trading. That being the case, the default ratio with Herdos is the classic 1:100 – those who want to trade aggressively will be able to, but one will not be able to missclick half of his account away by accident. Be sure to pay close attention when placing orders and to know what position size you are willing to take.


Many payment methods

Herdos offers support for some instant payment methods. While there are more popular e-wallets on the market, their lineup isn’t that bad. The options include: Bank Transfer, Credit Card, Yandex, Qiwi, entropay and UPay Cards.


Herdos Disadvantages


Minimal info on the company, no regulation
As we said in the beginning, we aren’t even certain if Herdos is truly operated from Macau. This was briefly mentioned in their “Contact Us” section, while the rest of the website provides generic information about “top quality services” and so on. Financial regulation isn’t mentioned anywhere, which is troubling to say the least.


A catch with the bonuses
One of the things you can’t miss on Herdos’ website are the amazing On deposit bonuses, ranging from 20% to 100%. As is often the case, this comes with a bit of small print. One must trade a total of 30 times the sum of his investment ant the bonus (the total account value after the bonus is received), before he can withdraw funds. This may not be that much for a veteran trader, but a newcomer who starts loosing, will not be able to take back the remainder of his investment.


Platform isn’t ideal
Herdos offers a web-based trading platform, which looks like the new iteration of a popular binary options solution – Spot Option. While the charting is solid, we would still prefer a desktop solution, with more capabilities, like MetaTrader. Here is a preview of this broker’s platform:



How you trade at Herdos


>>Find a broker offering the reliable MT4 platform<<


Trading conditions aren’t presented
The responsibility to provide a detailed description of the various trading conditions comes naturally with such a great list of CFDs. When first stumbling upon Herdos, you may think they are a cryptocurrency exchange, which only offers generic information about Bitcoin. The situation is even worse than that.


High fixed spreads

We saw the spreads provided by this broker when testing their platform, as this information isn’t disclosed on the website. The 3 pips fixed level isn’t competitive with the current offers by other companies – basically everything above 2 pips is high. You can find some of the tightest spreads in the industry at our dedicated, real-time comparison platform.


>>We track forex spreads here<<


Very high minimum deposit

With a $1000 demand for the smallest clients, this broker is obviously targeting high rollers. There are many other brokerages with lower requirements, like the $100 at the UK-based industry leaders HYCM (where a $200 deposit will grant you access to the Raw account, offering extremely tight spreads).


Conclusion


Herdos is an unregulated forex and CFD broker based in Macau. As a coincidence with the destination, one will be taking a big gamble if he decides to trade with this company. We typically don’t recommend dealing with unregulated entities, but the trading environment offered by this one also isn’t very attractive.


To reiterate the significance of financial regulation will mention only two (while there are many more) of the rules enforced by the UK’s Financial Conduct Authority (FCA), which protect investors.


>>Our list of FCA regulated here<<


All the funds you deposit with an FCA-regulated broker are kept in a special “segregated” bank account. This way, shady brokers can’t simply steal them.


Additionally all of these firms are registered in the Financial Services Compensation Scheme (FSCS).I is basically an insurance system, which protects you against their bankruptcy. While it’s not likely a well-established broker will go under, if that was to happen, you would be compensated for your investment with them (up to £ 50,000).


The key points of Herdos one more time:

Pros Cons
A lot of assets traded Minimal info on the company, no regulation
Decent leverage A catch with the bonuses
Many payment methods Platform isn’t ideal
  Trading conditions aren’t presented
  High fixed spreads
  Very high minimum deposit

 

Latest news about Herdos
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Traders` reviews for Herdos

Spread

Pros

Cons

 

 

Slippage

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Cons

 

 

Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Herdos.com is scam!!!!

I am warning all persons who want to pay money to Herdos.com !!! I have never got back my Money !!! The money ist lost... It is scam !!!

Gerd 07/10/2018

Herdos = Scam

I also requested a withdrawal request of € 250.- but for more then a month I have been waiting for my money and I am still waiting. It's true - there is no any support and no e-mail addresses !! The only ''person'' who answered to my emails is Rosy Wakner, probably with fake name. Don't trust them and stay away if you don't want to loose your money!

Goran 07/10/2018

Herdos is a Scam

Herdos is the purest fraud company on the market! I requested a withdrawal request of € 250.- but for a month I have been waiting for my money. There is no support and no e-mail addresses !! Please do not invest any money on Herdos it's just scam!

Reinhold Hermüller 06/05/2018

Herdos - Bad Customer Service

On attempting to withdraw my funds I received a call from a particularly aggressive person who stated she lived in Luxembourg and started to question why I wanted to withdraw my funds.
After telling her I didn't feel the platform met my needs she called me a "motherf....." and hung up.
I then received an email from some girl named Rosie telling me she was offended by the fact I wanted to withdraw my funds.

Stay away, it could only be a scam.

Peter 05/24/2018

Scam 1st class

Alligned to FX Nobel
Very untrustfull. They never pay out! Dont spend you money at herdos.com.
Its scam

Willem koudijs 05/18/2018
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