Honor FX

HonorFX Review: Is HonorFX a Good Broker?

Broker overview and general information

HonorFX is a broker that is committed to providing a safe and efficient online trading platform covering trading markets such as Forex, Indices, Shares, Futures and CFDs. The broker focuses on providing transparent and responsive services to its clients through the use of cutting-edge technology and a team with in-depth knowledge of the financial markets, making it a reliable broker that is responsible and honest with its clients.

Broker Licensing and Regulation

If you ask whether HonorFX is good or not, you must first consider the license and registration factors, which are the brokers.HonorFX is a brand of Honor Capital Markets Limited, which is regulated by multiple regulatory authorities.As follows

• Registered by the Labuan Financial Services Authority (LFSA) in Malaysia.License number MB/21/0072

• Registered by the Financial Services Regulatory Authority (FSRA) of Saint Lucia.

• Financial Services Commission (FSC) of Mauritius, License No. GB20025826 

Trading products and services

Trading products

• Forex: Trade 40 currency pairs including majors, minors and exotics with very low spreads and instant execution. No requotes. Spreads on EUR/USD, AUD/USD and USD/JPY start from just 0.2 pips.

• Indices: Trade CFDs on spot indices on the world’s most active stocks. Clients can trade over 90 cash index instruments and futures, including the UK 100, US 30 and Germany 30.

• Dow Jones (DJ 30) 

• S&P 500

• NASDAQ 100 

• DAX 30 

• FTSE 100 

• CAC 40 

• NIKKEI 225

• Stocks: Trade 64 CFDs across UK, US and European markets on popular stocks including Amazon, Boeing, Facebook and Netflix. Trading CFDs allows traders to invest less than the actual cost of the stocks themselves – we do not actually own the stocks, but simply speculate on the ups and downs of the market.

• Futures: The futures market offers two types of instruments: energy and metals. The most popular energy futures are oil and gasoline, while metals include gold, silver and copper, which traders trade via CFDs.

Trading Platform

• Metatrader 5 is the latest version of the trading platform from MetaQuotes. It builds on MT4 and comes with a full range of features and advanced tools, suitable for experienced traders.

MT5 Key Features

• Sophisticated order management tools: Supports a wide range of trading strategies, allowing precise control over your trades.

• More technical indicators: MT5 comes with more than 80 technical indicators.

• Customization: MT5 supports customization of graphics, indicators and templates.

• Strategy Testing: MT5 comes with tools for testing trading strategies, allowing traders to evaluate the effectiveness of strategies before putting them into practice.

• Supports multiple markets: MT5 supports trading in Forex, stocks, indices, commodities, and more.

• Ease of Use: MT5 has a user-friendly interface, suitable for both novice and professional traders.

HonorFX Review: Account Types 

There are two types of trading accounts: Standard and Master accounts. Both have different features as follows:

Standard Account

• Maximum leverage 1:500

• Minimum deposit $100

• Spreads start at 1.2 pips

• Margin call / Stop Out : 50/30

• No free swap

ECN Account

• Maximum leverage 1:500

• Minimum deposit $10000

• Margin call / Stop Out : 50/30

• No free swap

Islamic Account

• Maximum leverage 1:500

• Minimum deposit $2000

• Margin call / Stop Out : 50/30

• No free swap

Deposit and Withdrawal Review

Deposit

Withdrawal

Support and Customer Service

• Live Chat (working hours 10:00 AM - 7:00 PM)

• E-Mail :[email protected]/[email protected]

• Tel : +97142105333

Broker Overview Summary

HonorFX is an interesting broker with a wide range of trading instruments and analytical features that help traders make informed investment decisions. They also offer Islamic accounts for those who need them. However, the broker is limited in terms of account types, high minimum deposits, and a limited variety of deposit and withdrawal methods, especially since the broker's license has a low level of credibility.Investors should therefore re-evaluate these factors before investing.

HonorFX FAQs

Q: What trading platforms do you offer?

A: The MetaTrader 5 (MT5) trading platform is known for its advanced features and trade management tools.

Choose the safest and most suitable broker with TrustFinance reviews

Start trading Forex easily. Choose a safe and reliable broker with TrustFinance. A source of information and reviews of over 180,000 Forex brokers and financial companies, covering leading Forex brokers such as Exness, FBS, XM, IC Markets, IUX and many more.

HonorFX Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.