Herdos is an offshore, unlicensed CFD broker based in the Marshall Islands that offers trading CFDs in forex, cryptocurrencies, stocks, commodities and indices.
Read our full review of Herdos below and discover whether or not this broker is a scam. As always, make sure to follow our warnings and tips on trading safely with any broker.
Account Features
There appear to be five trading accounts available for investors to choose from. Now, there are two obvious problems with these accounts.
First of all, the starting deposit on the basic account, which is considered to be a “beginner’s account” is $1,000. This is a massive amount required to open a simple, beginner’s account with a broker. The usual amount required is $250. You can even start with as low as $10 if you choose to trade with IQ Option – just to give you an indication of how expensive this broker is.
Second of all, there appears to be no dramatic difference between each Herdos account – besides the deposits growing considerably larger with each upgrade. For example, the only difference between the basic (first) account with the bronze (second) account is a 10% bonus increase. For this 10% increase, investors have to technically pay $4,000. Needless to say, this is ridiculous.
Warning: Don’t forget to read the bonus conditions carefully before deciding to accept any bonus. More often than not, these bonuses are too good to be true and require large amounts of money to even withdraw them.
Think about it: Regulated brokers never offer trading bonuses – and for good reason.
Now, let’s take a look at the actual features available on each account.
It is important to note here that Herdos does not provide any specific trading conditions like leverage, spread or minimum investment amounts on their website. This is never a good sign and shows lack of transparency from the company.
Listed below you will find features that are available on all five Herdos accounts.
- 24/5 customer support
- Education center
- Daily market review
- Pro webinars
- Price alerts
- Expert intro session
Now, moving on to differences between each account (as mentioned, there aren’t many), you can take a look at all five accounts listed below.
Basic Account –> $1,000 Min. Deposit
- 20% welcome bonus
Bronze Account –> $5,000 Min. Deposit
- 30% welcome bonus
Silver Account –> $10,000 Min. Deposit
- 50% welcome bonus
- Strategic analyst private session
- 2 live webinars
Gold Account –> $50,000 Min. Deposit
- 80% welcome bonus
- Strategic analyst private session
- 4 live webinars
Platinum Account –> $100,000 Min. Deposit
- 100% welcome bonus
- Strategic analyst private session
- 8 live webinars
- Exclusive position access
Trading Software & Assets
Traders will find over 400 underlying assets from all major financial markets available on the Herdos platforms. These include CFDs in forex, over 200 cryptocurrencies, stocks, commodities and indices.
Herdos offers investors two trading platforms to choose from: The Panda web trader or the MetaTrader4 (MT4) trading platform.
Web Trader
As the name suggests, the Herdos web trader is a web-based platform that can be accessed directly from their website from a PC/laptop or mobile device. The only thing really needed is an internet connection. You don’t need to download or install anything to begin trading with the Herdos web trader.
This platform is developed by Panda and offers a simple, user-friendly experience. This web trader is especially perfect for beginners, because its entire interface is incredibly easy to understand and follow.
MetaTrader4 (MT4)
MT4 is one of the most recognisable trading platforms online. To begin trading with MT4, you will need to download the platform onto your PC, laptop, tablet or mobile device. It is available for both Android and IOS operating systems.
Support Information
Traders can reach the Herdos customer support team via email (two emails available on the website), landline or the contact form on their website.
There is no live chat available, which is unfortunate since live chats are the preferred contact method for most traders since they mean fast, direct answers.
Banking & Company Information
Herdos is owned and operated by the company Takeda Partners LTD, located at Trust Company Complex, Ajeltake Road, Ajeltake Islands, Majuro MH96960 Marshall Islands.
The broker accepts several payment methods, including credit card (Visa, Mastercard, Maestro, American Express), bank wire transfer, Qiwi, Yandex, Entropay and AdvCash.
Verdict: Is Herdos a Scam?
Through our careful review of this broker, our team has concluded that Herdos is not a trustworthy company and we would strongly advise against investing any money with them.
Herdos is unlicensed and located offshore, which is the first red flag, because it means that no regulatory agency is keeping tabs on this company.
Warning: Investing in an unlicensed broker also means you have no chance in getting a refund of your money if you are scammed. Companies like MyChargeBack can help you if you have invested in a licensed company.
This broker also has an incredibly vague website, with no clear trading conditions and incredibly high deposits required. All these are signs that Herdos is a scam.
Conclusion: Don’t waste your time on another fraudulent company. Check out our list of the best, regulated brokers you can trust!