HonorFX Review

Minimum Deposit: $100 VISIT BROKER
Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital.

HonorFX Review


HonorFX is an online forex broker located in St. Vincent and the Grenadines. The broker has been providing trading services since 2017 and is authorised and regulated by FSC, LFSA, and FSA.

The broker offers over 275 financial products to trade via the most popular MT5 multi-asset trading platform. The asset classes offered by the broker are: Forex, Indices, Stocks, Commodity Futures, and Cryptocurrencies.

HonorFX offers trading at very low spreads and charges no commissions. Traders can enjoy trading on ECN accounts with raw spreads. The broker has a library of videos and market updates to help its clients make informed decisions in terms of education and research.

8.3Expert Score
HonorFX Rating

HonorFX provides true ECN connectivity, so clients have direct access to other participants in equity and currency markets using best conditions for their trading experience. You can choose a trading account that suits your trading style and trade on major markets across 5 assets classes including FX, Indices, Shares, Spot Metals and CFDs.

Investment Products
Commissions and Fees
Platforms and Tools
Research and Education
Deposit and Withdrawal

HonorFX Review

Pros and Cons

HonorFX is a regulated broker and provides trading services globally. The broker has user-friendly trading platforms with competitive trading costs. In addition, the broker offers 275+ trading instruments. Moreover, practical educational resources with demo accounts help newbies to learn. HonorFX also offers swap-free Islamic accounts. The broker has a low minimum deposit and 15+ funding options, including cryptocurrencies. Finally, the broker has super-responsive customer support.

On the other hand, HonorFX does not offer other trading platforms such as the predecessor of MT5 or cTrader or any other. The broker requires a minimum deposit of $100. In addition, HonorFX does not offer zero spread accounts. The broker does not accept clients from some countries, and the US is one of them. Moreover, the broker does not hold a banking licence, is not traded on any stock exchange, and does not publicly disclose its financial information.

Let’s summarise the advantages and disadvantages of trading with HonorFX:

  • World-class MT5 trading platform
  • Commission free investing and trading
  • Spreads from 0.2 pips
  • No deposit and withdrawal fees
  • 275+ trading instruments
  • Market updates
  • Trading videos
  • Multiple accounts types
  • 24/5 customer support
  • Islamic accounts
  • Demo accounts
  • Cryptocurrencies to trade
  • Variety of funding options including Cryptos
  • Easy funding and fast withdrawal
  • Rebates
  • Licensed and regulated
  • Only MT5 offered
  • Limited educational and research resources
  • $100 minimum deposit
  • No US clients
  • No customer support at weekends
  • Inactivity fee

HonorFX Review

Investment Products

HonorFX offers 275+ trading instruments over a wide range of asset classes: FX Major, FX Crosses, FX Minor, Spot Metals, CFDs, Spot Indices, Shares, Cryptocurrencies. You can trade 40+ FX pairs, numerous commodity and energy futures, 90+ indices, 65+ stocks, and 8+ cryptocurrency CFDs.

HonorFX Markets
HonorFX Markets

On the other hand, HonorFX does not offer other popular asset classes such as options, bonds and ETFs. It would be nice to see these trading instruments in the broker’s trading portfolio.

HonorFX Instruments Summary

HonorFX Instruments

HonorFX Review

Commission and Fees

Commission and Spread Fees

HonorFX provides traders with trading at such low trading costs. You can open three account types and choose to trade from tight spreads as low as 0.2 pips without any commission fees. The broker does not offer zero spread accounts; however, this is because HonorFX does not charge any commission fees.

Fee Standard ECN Islamic
Commission (per standard lot per side)$0$0$0
Spreads from1.20.21.5
HonorFX Fees

Deposit and Withdrawal Fees

HonorFX does not charge any deposit or withdrawal fee while using over 15 funding methods, including cryptocurrencies. However, you should check with your service provider (funding option) if they charge any fee per transaction.

Inactivity Fees

If an account is declared inactive (no trading activity) for six months, the company will charge a 5 USD inactivity fee. These costs will be assessed after the six-month period in which the customer has been inactive and each month until the account is designated as Active.

HonorFX Review

Platforms and Tools

HonorFX offers the most popular multi-asset MetaTrader 5 trading platforms. The broker offers MT5 on multiple devices. In addition, the broker has impressive tools such as VPS service and a trading glossary.

HonorFX Investing Platform
HonorFX Investing Platform

MetaTrader 5 (MT5)

Clients of HonorFX get access to the most popular multi-asset trading platform, MetaTrader 5 (MT5). Millions of traders from all around the world utilise the MetaTrader platforms. They are noted for having a user-friendly interface as well as a plethora of features and functionality to provide a seamless trading experience.

MetaTrader 5 platforms are appropriate for traders of all levels of expertise. Web versions of the MT5 platform are accessible through popular browsers or may be downloaded for free for desktop and mobile devices. The desktop platform includes all of the functionality, whilst the web platform may be accessed directly through most current web browsers without downloading and installing any extra software. The MetaTrader mobile trading app is beneficial for traders who want to trade on the move. It is compatible with both Android and iOS devices.

Salient features of the MetaTrader 5 platforms include:

  • Price quotes in market watch
  • 21 timeframes
  • 3 chart types
  • Multi-threaded  and Multi-currency strategy Tester
  • 275+ Supported Markets
  • Immediate or Cancel Return order Fill Policy
  • Unlimited charts at once
  • Email System
  • 44+ Graphical Objects
  • 6 Pending Order Types
  • 38 Technical Indicators
  • Multiple order types
  • Drawing objects
  • Economical calendar with the latest market news
  • Automated trading via EAs
  • MQL programming interface
  • MQL marketplace
  • Available for Windows, macOS, web and mobile devices
HonorFX Investing App
HonorFX Investing App


When trading online with HonorFX, you may use a variety of tools to assist you in making informed trading decisions.

News Analysis

You can keep up with the latest moves and developments in the financial markets. HonorFX has a skilled research team that chooses information from throughout the industry for the broker. This can aid in the fundamental analysis of different markets.

VPS Hosting

A VPS (virtual private server) enables you to keep your trading platform operational all the time propbably 99.9% uptime 24/7. HonorFX clients can subscribe to a forex VPS hosting service from an external third-party supplier (MetaQuotes), ensuring that trades are disrupted as little as possible due to technological or internet errors.


The broker maintains an A-Z Terms of Business Glossary of financial words, definitions, and explanations related to trading and markets in general.

Technical Analysis

The technical analysis section provides technical analysis of different financial assets. You may discover upcoming trade opportunities within this section. Any trading pair’s technical analyses involve pivot points, support, resistance, chart patterns and indicator-based results. Combined, all of these factors provide trade opportunities and explain the overall market sentiment.

HonorFX Platforms Summary

MetaTrader 4 (MT4)x
MetaTrader 5 (MT5)
Social Tradingx
HonorFX Platforms

HonorFX Review

Research and Education

On their website, HonorFX provides a good assortment of educational resources. These are designed to help you improve your trading knowledge and increase your trading skills.

However, It’s worth noting HonorFX does not offer other proprietary research tools such as AutoChartist, Trading Central and trading calculators. Moreover, the broker does not hold podcasts, webinars or seminars to interact with its clients. We know that traders like to interact with the brokers’ professionals and ask questions regarding their trading strategies and analysis. It would be nice to see those research tools and webinars or an alternative educational resource.

Trading Videos

HonorFX provides a series of trading videos that are suitable for both novices who want to learn more about trading and experienced traders who want to refine their methods. These basic and advanced trading lessons are designed to increase your trading expertise and broaden your awareness of the markets as a whole.

Trading Guides

HonorFX offers extensive training tools like Guides and PDFs to traders of all experience levels to further develop their understanding of the financial markets. You may learn about trading from the basics all the way up to the expert level. A beginner’s approach to Forex trading eBook is also available for free download.

Daily Market Reports

HonorFX offers daily market reports of global markets and the most concerning factors that could shape the market.

FAQ section

In addition, the broker includes a frequently asked questions area where you can discover answers to frequently asked questions regarding HonorFX, trading, accounts, and other topics.

HonorFX Research and Education Summary

Market Analysis
Trading Centralx
Economic Calendar
HonorFX Resources

HonorFX Review

Deposit and Withdrawal

HonorFX provides 16 payment methods for deposit and withdrawal. The good part is, the broker does not charge any deposit or withdrawal fee. You can fund your account or withdraw funds from it via bank transfers, credit/debit cards, electronic wallets and cryptocurrencies.

Here is the summary of the funding options and the support currencies:

  • Bank transfers:  AED, USD, EUR
  • Credit/Debit Cards: USD, EUR, GBP
  • Local transfers:  MYR, IDR, THB, and VND
  • Digital wallets: USD, EUR, GBP, BTC, IDR

HonorFX Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
HonorFX Funding Options

HonorFX Review

Regulation and Safety

HonorFX is a registered trademark of Honor Capital Markets Limited. The broker has its headquarters in St. Vincent and the Grenadines and is authorised and regulated by the Financial Services Authority (FSA) of St. Vincent & The Grenadines as an International Business Company, the Financial Services Commission (FSC) of the Republic of Mauritius with an Investment Dealer licence and the Labuan Financial Services Authority (LFSA) Malaysia.

HonorFX Regulation Summary

ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
Other (FSA, FSC, LFSA)
HonorFX Regulators

HonorFX Safety

HonorFX is a brand name of Honor Capital Markets Limited (Mauritius), Honor Capital Markets Limited (Malaysia) and Honor Capital Markets Limited (St. Vincent and the Grenadines). Honor Capital Markets Limited is not a publicly-traded company. Neither does the company hold a banking licence nor disclose its financial statements in public.

The United States, Japan, British Columbia, Mauritius, Quebec, and FATF blacklisted nations are not eligible for services under the Honor Capital Markets Limited brand. Due to regulatory constraints, some HonorFX broker services and products described may not be available to traders from specific countries.

Several regulatory licences establish HonorFX’s reputation in various parts of the world, helping ensure that the broker follows fair business practices and conform to local laws and regulations.

HonorFX Review

Client Support

HonorFX provides customer support via live chat, phone and email 24/5. Therefore, if you have a conern during weekends, your query will be answered on the coming Monday.

HonorFX Review


Overall, HonorFX is a trading broker that can meet the demands of clients from all over the world with varying degrees of expertise and particular requirements. They provide hundreds of trading products, narrow spreads, zero commissions, educational resources, trading tools, and no-fee deposits and withdrawals. There are several account types, and customer service is accessible 24 hours a day, five days a week, to answer any questions you may have.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

HonorFX Review


When was HonorFX founded?

HonorFX was founded in 2017.

Where is HonorFX located?

HonorFX’s headquarters are located in St. Vincent and the Grenadines. However, they also have offices in the Republic of Mauritius and Malaysia.

Is HonorFX regulated?

HonorFX is authorised and regulated by FSA, FSC and LFSA.

What trading instruments does HonorFX offer?

HonorFX offers 275+ trading instruments over multiple asset classes such as forex, CFDs, indices, stocks, commodities and cryptocurrencies.

What is HonorFX’s minimum deposit?

HonorFX requires a minimum deposit of $100.

What investing platforms does HonorFX offer?

HonorFX offers access to trade with MetaTrader 5 on multiple devices and through web browsers.

What is HonorFX’s commission fee?

HonorFX does not charge any commission fee on any account types or asset class.

Does HonorFX charge an inactivity fee?

HonorFX charges an inactivity fee of $5 from the accounts where no trading activity has been conducted during the past 6 months.

What are HonorFX’s spreads?

HonorFX offers variable spreads starting from 0.2 pips.

What funding options does HonorFX offer?

HonorFX offers various funding options such as wire transfers, debit/credit cards, e-wallets and cryptocurrencies.

Does HonorFX offer demo trading?

Yes, HonorFX offers demo trading as a way to try out the brokers investing products and services.

Does HonorFX offer Islamic accounts?

Yes, HonorFX offers swap-free Islamic accounts.

How do I contact HonorFX customer support?

HonorFX’s customer support can be reached 24/5 via live chat, phone or email.
HonorFX Review
HonorFX Review
Minimum Deposit: $100
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.