Established in 2018, HonorFX is a retail trading broker that is based in Saint Vincent and the Grenadines. They provide traders with the MT4 and MT5 trading platforms for trading multiple financial assets, including forex, indices, shares, spot metals, cryptocurrency, and CFDs. Their clients enjoy various favorable trading conditions, such as tight spreads, leverage of up to 1:500, zero deposit fees, and more. In addition, there are various learning and trading tools and a client support team to assist traders. The minimum deposit required to start trading is $100.
HonorFX Review Introduction
In this HonorFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers, including HonorFX.
HonorFX Platforms & Tools
honorFX provides traders with the MT4 and MT5 trading platforms. These are some of the most popular trading platforms in the industry. While the MT4 was launched in 2005 with an avalanche of helpful trading tools, the MT5 came later in 2010 with even more advanced trading features and functionalities. These platforms’ built-in features include charting tools, market indicators, scripts, expert advisors, advanced risk management tools, real-time market execution, and more. The MT4 and MT5 trading platforms are available as a desktop application for Windows and Mac computers and a mobile app for Android and iOS devices. In addition, there is a web version that can run directly on most modern web browsers — Chrome, Safari, Firefox, and Edge — without needing to install any additional software.
To help traders get an enhanced trading experience, the broker makes available a good selection of standalone trading tools, such as technical analysis and VPS hosting tools.
HonorFX Research & Education
The broker is aware of the importance of educational resources to the overall trading competence of clients. As a result, they make available a good selection of educational resources on the broker’s website. These educational resources include a forex glossary, video tutorials, e-books, and several learning articles.
HonorFX Trading Accounts
HonorFX offers a choice of three live trading account options, namely: Standard, ECN, and Islamic accounts. The minimum deposit required to start trading is $100. In addition, a demo account option is available to help traders practice their trading strategies before implementing them on the live trading account options.
HonorFX Account Funding
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank wire transfers, credit/debit cards, and some online payment gateways, such as Neteller and Skrill.
HonorFX Customer Service
The broker’s clients can send all their trading inquires to a responsive client support team who are available 24/5 and can be contacted via telephone, email, and Live Chat.
HonorFX is a brand name of Honor Capital Markets Limited. They are regulated by the Financial Services Commission of the Republic of Mauritius (FSC) with an Investment Dealer License.
HonorFX Review Summary
Putting it all together, HonorFX is an online trading broker that offers multiple financial assets through the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. Their clients benefit from favorable trading conditions, including several trading instruments, tight spreads, flexible leverage, and zero-fee deposits/withdrawals. There are various learning resources and trading tools to assist traders. The minimum deposit required to start trading is $100.
It is worth mentioning that some of the trading products and services in this HonorFX review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the HonorFX broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.