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Is Herdos a scam broker?

Overview

Herdos is an unregulated forex and CFD broker that started its operations in March 2017. The forex broker is owned by Takeda partners and is based in Majuro, Marshall Islands. Herdos offers forex trading, commodities, indices, stocks, and cryptocurrencies. Not many brokerages provide such a diverse list of trading options. This forex review provides you with a complete understanding of Herdos trading options, its benefits, payments and withdrawals, bonuses to come to an informed decision.

About Herdos

Herdos offers investors with five different trading accounts to choose from including:

  • Basic                      –         $1000           Minimum Deposit
  • Bronze                   –         $5000           Minimum Deposit
  • Silver                     –         $10,000        Minimum Deposit
  • Gold                       –         $50,000        Minimum Deposit
  • Platinum                –         $1,00.000     Minimum Deposit

The leverage offered is 1:100 for all account types, and the spread is fixed, from 3 pips. Considering the spread offered, it is not much tighter when compared with other unregulated brokers. But the leverage offered here is quite decent with 1:00 and will be quite beneficial for aggressive traders. Herdos also supports various payment methods including Bank transfer, credit cards, Entropay, UPay, Qiwi and Yandex. 

But one thing that might limit beginner level traders from using the platform is the starting deposit of $1000, which is quite high against the normal deposit of around $250. There are even forex traders like IQ option that allows you to start trading with investing a meager $10. So, only if you are a professional trader and willing to invest around $1000, you can opt for Herdos brokerage.

When it comes to trading platforms offered, Herdos offers a web-based platform and a MetaTrader4 software for investors. People not comfortable with various options and technicalities in MetaTrader4 can opt for the web-based trading option. While cryptocurrency trading is picking up a lot of steam, you can see Herdos offering a diverse range of crypto including Litecoin, XRP, Ethereum and Bit Cash.

Is Herdos Legit or Scam

If you are looking to trade with only a regulated broker, then Herdos is not your cup of tea as they are not a licensed brokerage firm. We usually don’t encourage our users to deal with unregulated brokers as there is no guarantee that you will get the benefits and other features as outlined on their website. But if you are willing to take chances, then Herdos offers a diverse list of trading options along with decent leverage and attractive bonuses.