HonorFX Review

Category: Reviews | Author: Trading Brokers | Date: November 17, 2022

HonorFX is an online broker that provides trading platforms for clients around the globe to trade on major markets across multiple asset classes including forex, stocks, cryptos. I found the broker to give you access to some very competitive trading conditions including tight spreads, quick execution speeds, zero funding fees and flexible leverage that goes up to 1:500. For beginners, you will find an excellent range of educational materials whilst you can practice trading on a free demo account. For those of you who like market analysis then you will be pleased that they provide plenty of trading tools to support your daily trading activities. The minimum deposit to open an account is $100 and the signup process doesn’t take more than a few minutes to complete.

Pros & Cons

  • User-friendly and powerful MetaTrader platforms
  • Broad range of 165+ trading instruments
  • Low spreads and no commission fees
  • Zero fees on account deposits and withdrawals
  • Good choice of trading tools and educational resources
  • Great variety of account types and funding options
  • Free demo trading accounts
  • Islamic accounts to support Muslim traders
  • 24/5 customer service
  • Minimum $100 deposit is not the lowest
  • Cannot accept clients from some countries
  • No managed account options
  • Support not available on weekends
  • No FIX API connectivity


Founded in 2018, HonorFX is an increasingly popular broker that gives you access to trade hundreds of financial instruments as contract for differences (CFDs) including shares, forex, indices, commodities and cryptocurrencies. They provide you with easy to use trading platforms so that you can follow the markets, place and manage trades from all of your devices without any hassle. The broker has spreads starting from as low as 0.2 pips whilst there is flexible leverage of up to 1:500 available. You can start trading with a small deposit of just $100 and take advantage of zero fees for account deposits and withdrawals. If you want to get a feel for what the broker can do for you first, there are free demo accounts to trial them risk-free. The customer support team is on hand to assist you 24/5 and I have always found them to be very helpful. I like how the broker implements some of the latest technologies and has an in-depth knowledge of trading which enables them to serve clients according to their own individual needs.

HonorFX Broker Features

HonorFX Broker Features

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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. I like the fact that they are regulated as it means they must follow certain rules and procedures which helps to give me some peace of mind that I can trust them with my funds. I would always prefer to use a regulated broker so that I can remain focused on my trading without worrying too much about something going wrong. Arguably, top-tier regulation would be better. However, I understand that the current regulation does mean the broker can give clients the option to choose certain products and services that a top-tier regulator may not allow. I think it is important for traders to be able to trade how they want to, as long as they are being responsible. If you would prefer more top-tier regulators, you might want consider AvaTrade instead.


The Honor Capital Markets Limited brand does not provide services to residents of the USA, Japan, British Columbia, Mauritius, Quebec and FATF black listed countries. If you find that your country is not accepted, you can always have a look at our broker ratings for an alternative option.



HonorFX give you market access on two of the most popular trading platforms, MetaTrader 4 and MetaTrader 5. The MetaTrader platforms are used by millions of forex and CFD traders from all over the world. They are known for having a user-friendly interface along with an abundance of features and functionalities to deliver a smooth trading experience. I have used both platforms for many years and find them perfect for quick and easy access to the markets. You can customise the platforms to be as simplistic or complex as you like. Whether you just want to follow prices and trade manually or run powerful analysis across multiple charts, MetaTrader has you covered. I have never felt the need to use any other platform and like how the platforms are provided by most brokers including RoboForex. This means you can switch brokers at any time and not need to start with a new platform from scratch.

MetaTrader Platforms

MetaTrader Platforms

The MetaTrader platforms are suitable for traders of all experience levels and can be downloaded free of charge for desktop, web and mobile. The desktop platform has all of the functions implemented whereas the web platform can run directly in most modern web browsers without needing to download and install any additional software. This is great because you are always running the latest version of the platform and can get into your account from any device. For instance, if your battery died and you needed to manage a trade urgently, you would use a friend or relatives’ device.

HonorFX Trading App

HonorFX Trading App

The MetaTrader mobile trading app is useful for those who need to access their account and trade whilst on the go. It is available for Android and iOS devices. I find myself checking the app way too often, I just love to see how my trades are performing and what is happening around the markets. I have been known to launch the app from the sofa and even in bed. It is so convenient to take the markets with you in your pocket. The interface is modern and sleek, making the app a pleasure to use. Especially when trades are going well!

Some of the key features of the MetaTrader platforms include:

  • Live bid/ask price quotes in the market watch window
  • Multiple chart timeframes
  • Multiple chart types
  • Multiple order types
  • Large selection of technical indicators for chart analysis
  • Graphical drawing objects to mark important price points
  • Economical calendar to keep up with the latest market news
  • Automated trading via expert advisors (EAs)
  • MQL programming interface to create custom EAs, indicators and scripts
  • Strategy tester to back test EAs over historical data
  • MQL marketplace to share trading tools and signals
  • Available for desktop, web and mobile devices


When trading online with HonorFX, you can choose from various tools to help take an informed decision with respect to your trading. I think it is fantastic that the broker believes the best traders are the educated ones. That being said, the MetaTrader platforms are already fully loaded with some excellent trading tools. Not to mention, you can find an almost endless amount of free and paid tools to enhance the capabilities of the platforms. There is also the MQL editor where you can develop your own or find someone in the MQL community to do it for you.

News Analysis

You can stay up to date with the latest movements and developments across the various financial markets. The broker has articles curated from across the industry by an expert research team. This can help with fundamental analysis of various trading instruments. I found some interesting market insights that made me aware of possible opportunities that I may have otherwise overlooked. If you are a fan of market analysis, then PaxForex could be worth checking out as they have plenty.

VPS Hosting

A Forex VPS (virtual private server) allows you to keep your trading platform running 24/7. HonorFX clients are able to subscribe to an MT4 & MT5 Forex VPS hosting service from an external third-party provider (MetaQuotes), helping to ensure that trades have minimal disruption due to technological or connectivity issues. I have my own VPS from a third-party provider and find it to be an invaluable tool for running automated strategies on multiple instances of the MetaTrader platforms simultaneously. It can be a great way to compare brokers in terms of performance. There are other brokers where you can get a free VPS, including Switch Markets.


The broker has an A-Z glossary of various financial terms, definitions and explanations associated with trading and the markets in general. If you are new to trading then this can be a good way to bring yourself up to speed with some of the most important terminologies that you will run into along the way.


The broker has a good selection of educational materials available on their website. These are geared towards improving your trading knowledge and developing your trading skills. I think there is plenty to educate even the most novice of traders out there. However, FXTM have more if you are looking for as much content as possible.

Trading Videos

HonorFX has a series of trading videos that are suited to beginners looking to learn more about trading as well as the experienced trader looking to develop their strategies. These basic and advanced videos aim to improve your knowledge of trading and develop your understanding of the markets as a whole. I found them enjoyable and easy to understand. You can watch them in your own time and at your own pace.

Trading Guides

HonorFX provides traders of all experience levels with comprehensive educational materials such as free trading guides to help them further expand their knowledge of the financial markets. You can get to know trading from basic topics all the way through to an expert level. There is also a beginner’s guide to Forex Trading eBook that is free to download. Again, there is everything that you need to learn more about the markets and how they work before you start trading. It is vitally important that traders educate themselves so that they can make informed trading decisions.


The broker also has a frequently asked questions section where you can find answers to common questions about HonorFX, trading, accounts, and more. Find below snippets of few questions covered in this section:

  • How do I fund my account?
  • What are the details for bank wire?
  • Which countries do we not accept?


HonorFX has a good selection of over 165+ trading instruments across various asset classes including forex, stocks, shares, indices, commodities and cryptocurrencies. One of the main advantages of CFD trading is that it allows you to speculate on the price of an instrument without needing to physically own the underlying asset. You can buy (go long) and sell (go short) on major currency pairs, popular cryptos and some of the largest stocks. I think they have more than enough options with something for everyone to trade regardless of your interests.


Forex traders can access a wide variety of 40 currency pairs including major, minor and crosses with competitively low spreads and instant execution.


You can trade commodities on Metals (Gold, Silver & Copper) and Energy (Crude, Brent & Natural gas).


You can get access to trade stocks on over 65+ shares across UK, US and European markets on popular shares including Amazon, Apple, Facebook, Netflix, Nike and much more.


The broker allows you to trade indices on a basket of the top shares representing the performance of a country’s economy or business sector.


HonorFX supports crypto trading in Bitcoin and Ethereum, amongst others.


HonorFX offer 3 types of trading accounts that are flexible to suit the varying needs of different traders. Whatever your level of trading experience or trading style, you can choose your preferred trading account type to get started. The main difference between the account types are the deposit required and spreads. The ECN account will generally have the lower spreads.


  • Trading Platform: MT4
  • Account Currency: USD
  • Leverage: From 1:10 to 1:500
  • Min Deposit: $100
  • Spreads From: 1.2
  • Margin Call: 50%
  • Stop Out: 30%
  • Swap-Free: NO
  • Min Lots: 0.01


  • Trading Platform: MT5
  • Account Currency: USD
  • Leverage: From 1:10 to 1:500
  • Min Deposit: $10,000
  • Spreads From: RAW
  • Margin Call: 50%
  • Stop Out: 30%
  • Swap-Free: NO
  • Min Lots: 0.01


  • Trading Platform: MT5
  • Account Currency: USD
  • Leverage: From 1:10 to 1:500
  • Min Deposit: $100
  • Spreads From: RAW
  • Margin Call: 50%
  • Stop Out: 30%
  • Swap-Free: YES
  • Min Lots: 0.01

Demo Accounts

Demo accounts are available upon request. These can be a great way to practice your trading strategies and familiarise yourself with the brokers trading platforms.

Account Signup

There is a short application form on the brokers official website if you wish to open a trading account with them. You will need to provide some personal information and documents which is a normal part of any brokers KYC procedures. The accounts team should validate your account very shortly after and from there you will be able to fund it and start trading when you feel ready to do so. I was able to complete the application and receive my login details within minutes. It is great how everything is done online with no long drawn out processes like some other brokers have. In todays day and age, I think it is unnecessary for everything to take so long.


HonorFX have an experienced support team available to help 24/5. Customer service can be contacted via email, live chat and telephone. They will be happy to answer all of your general, technical and account related questions in a prompt, polite and efficient manner. I have always been happy with the support that I have received during the time in which I have held an account with them.


The broker has a choice of easy and quick withdrawal and funding options from a range of providers. This includes credit/debit card, wire transfer, Skrill, PayPal and Neteller. I really like the digital wallet options as this is often the most convenient way for me to get access to my trading funds. If there is some market news event that I want to try and take advantage of, it is important to me that I am not waiting around days for my funds to clear.

Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Some additional fees may be charged when using certain payment methods. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. As you will find with the majority of brokers, they do not accept third-party payments. All funds deposited into your trading account must be under the same name as your HonorFX trading account.


Overall, HonorFX is a trading broker that can cater to the needs of clients from around the globe of all different experience levels and with various individual needs. I think that they have very competitive trading conditions including hundreds of trading instruments, tight spreads, flexible leverage, educational materials, trading tools and zero fee deposit/withdrawals. There are flexible account types whilst customer support is available 24/5 to help with any questions that you may have. If you are looking for easy access to trade forex and other instruments with minimal hassle, I think they are certainly an option to consider. You can get started with $100 or even try them on a free demo account to see if that meet your needs before making a financial commitment.

Honorfx Logo


HonorFX is a trading broker that provides hundreds of instruments for clients to trade on the MetaTrader platforms with tight spreads, flexible leverage, trading tools and a variety of trading accounts.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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