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HonorFX Forex Broker provides real users with 23 positive reviews, 1 neutral reviews and 19 exposure review!

HonorFX Broker Review

4.69

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Software Index

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Risk Manage

HonorFX Review 43

Latest All(43) Positive(23) Neutral(1) Exposure(19)
Positive

I gave Honor FX five stars not because I made some profits on this platform, but because its professional services. I have never met big problems here, and I was totally satisfied with this broker.

Lucky71540
2023-02-21
Exposure
Honor Fx is a scam

Do not use this exchange. When you reach $100k in profit and try to transfer your crypto out they will ask you to pay tax. When you don’t pay tax they lock your account so you can’t trade or move your crypto. My friends and I have been told various tax rates to pay. We are not paying the tax so we almost lost what we put in if not for Cyb3rNub.net

Fx4679443
2022-12-29
Exposure
The withdrawal is made nearly a week, but it has not been received, and the salesperson is missing

My account number is 930096. I applied for a cash withdrawal on the 14th, but it hasn't arrived yet. The backstage started to say that I refused with the wrong address, and then I submitted it again and deducted my money, but I did not receive the payment. After consulting the salesperson, he said that he would arrive on Friday, but then there was no reply and no payment. Does the platform want to give me no money? I hope WikiFX can help me

liao7038
2022-12-19
Positive

Honor FX's website looks great, but I've seen people say they've been scammed...unexpected. I think I must read more about what others say on the Internet before choosing a foreign exchange broker.

愛歸零7800
2022-12-16
Exposure
Unable to withdraw money, CRM automatically modifies the withdrawal address

I have three trading accounts in Honor: 929436, 929552, 930224. Deposit $14894 and withdraw $6419 before, and a withdrawal of $6857 has not arrived from 10/12/2022 to 14/10/2022. The payment address was suddenly tampered with by the platform, it is estimated that it is going to abscond

Mr Zhou
2022-12-14
Exposure
honorFX Exchange can't withdraw money and lock account

Warning broker #honorFX specializes in scams, does not allow withdrawals and locks clients' accounts. My MT5 account is 920046, I have joined since 2/6/2022. When there is profit on the floor, withdraw a few times to make investors believe. However, after that I withdrew 5000 USD and the order was still approved. Initially, it was still deducted from my trading account, but after a few hours, the money will not be returned to my personal account but added to my account. transaction account, this action keeps repeating from last Friday - July 8, 2022 to now (That is, when I withdraw money, initially deduct money from my trading account, but then that amount be added to the account). When contacting the customer service department of the floor whose number in Vietnam is 1900292920, it is explained that the bank's personal information has errors, the explanation of the customer service department is not really convincing. because I have successfully withdrawn several times already. Currently, the amount that honorFX has appropriated from me is 88654 USD After many times writing to the floor support department support@honorfx.com and support.vietnam@honorfx.com but did not receive a reply until the afternoon of the 13th. 07/07/2020 My account has been locked (Not accessible anymore) I am posting so this page is asking honorfx Floor to return my money. And by the way, participating investors should be careful with this floor and new investors should stay away from this Honorfx floor lest they lose money and lead to bankruptcy.

FX4269924910
2022-07-17
Exposure
Beware and learn from the mistakes of others.

Initially everything went well and our broker was very nice. We tested the site by making withdrawal of $100 twice, this gave us confidence in the company to Invest $73,000 However he kept pressuring us to Invest more money or lose our entire investment had to involve fintrack/org We got every deposit back from Honor Capital Markets after they rejected requests to withdraw money which was still in our accounts.

FX3776898440
2022-07-16
Exposure
Warning

Honorfx, requested an additional $21,000 payment after receiving my $84,000 investment on the grounds that money laundering was suspected on my account, in order to unfreeze my account. the AssetsClaimBack, an Australian corporation filed a report with the appropriate authorities asking them to investigate closing down comparable exchanges and restoring my withdrawal access, as they had previously done for other victims from other platform. Avoid Honorfx at all costs; they are a scam and fraud!

FX3012923282
2022-07-16

  

Honor FX 2025 Review: Everything You Need to Know

  Summary: Honor FX has garnered mixed reviews, with many users expressing concerns about withdrawal issues and the broker's regulatory status. However, it does offer a low minimum deposit and a wide range of trading instruments. Users should be cautious and conduct thorough research before engaging with this broker.

  Note: It's important to recognize that Honor FX operates through multiple entities across different jurisdictions, which may affect the regulatory oversight and protections available to traders.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 4.0
Tools and Resources 5.5
Customer Service & Support 4.2
Trading Experience 5.0
Trustworthiness 3.0
User Experience 4.5

  We assess brokers based on various criteria, including user feedback, expert opinions, and regulatory compliance.

  

Broker Overview

  Founded in 2017, Honor FX is an online forex and CFD broker that operates under the brand name Honor Capital Markets Limited. The broker is registered in multiple jurisdictions, including Saint Vincent and the Grenadines, Mauritius, and Labuan, Malaysia. Honor FX primarily offers trading through the MetaTrader 5 (MT5) platform, allowing access to a diverse range of financial instruments, including forex, commodities, indices, and cryptocurrencies. However, the broker's regulatory status has raised concerns among traders, as it is not overseen by top-tier regulatory bodies.

  

Detailed Breakdown

  

Regulatory Regions

  Honor FX operates in several regions, including Saint Vincent and the Grenadines, Mauritius, and Labuan. While it holds licenses from the Financial Services Commission (FSC) of Mauritius and the Labuan Financial Services Authority (LFSA), these are considered tier-3 regulations, which do not offer the same level of investor protection as tier-1 regulators like the FCA or ASIC.

  

Deposit/Withdrawal Currencies/Cryptocurrencies

  The broker accepts deposits and withdrawals in multiple currencies, including USD, EUR, and GBP, as well as cryptocurrencies like Bitcoin (BTC) and Tether (USDT). Users have reported that there are no fees for deposits or withdrawals, although third-party payment providers may impose their own charges.

  

Minimum Deposit

  Honor FX has a low minimum deposit requirement, allowing traders to start with as little as $1 for standard accounts. However, the minimum deposit for ECN accounts is significantly higher at $10,000, which may deter beginner traders.

  

Bonuses/Promotions

  The broker offers various bonuses, including a 100% deposit bonus and promotional incentives for referrals. However, users should be cautious, as bonuses often come with stringent withdrawal conditions that can complicate the process of accessing funds.

  

Tradable Asset Classes

  Honor FX provides access to over 275 trading instruments, including more than 40 currency pairs, commodities, indices, and cryptocurrencies. This diverse offering allows traders to engage in various markets and strategies.

  

Costs (Spreads, Fees, Commissions)

  The broker has competitive pricing, with spreads starting as low as 0.2 pips on ECN accounts. There are no commissions on standard accounts, making it appealing for traders focused on cost-efficiency. However, the complexity of the fee structure may confuse some users.

  

Leverage

  Honor FX offers leverage up to 1:500, which can amplify potential profits but also increases risk. Traders should exercise caution when utilizing high leverage, as it can lead to significant losses.

  

Allowed Trading Platforms

  The broker exclusively uses the MetaTrader 5 platform, which is widely regarded for its user-friendly interface and advanced trading capabilities. However, the absence of MetaTrader 4 may limit options for some traders who prefer that platform.

  

Restricted Regions

  Honor FX does not accept clients from several jurisdictions, including the USA, Japan, and certain provinces in Canada. This restriction is crucial for potential clients to consider before opening an account.

  

Available Customer Service Languages

  Customer support is available in English, and the broker offers multiple channels for assistance, including live chat, email, and phone support. However, the absence of weekend support may be a drawback for some traders.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 4.0
Tools and Resources 5.5
Customer Service & Support 4.2
Trading Experience 5.0
Trustworthiness 3.0
User Experience 4.5

  

Detailed Breakdown of Ratings

  

Account Conditions

  The account conditions at Honor FX are relatively favorable, particularly for standard accounts with a low minimum deposit. However, the high entry requirement for ECN accounts may limit access for novice traders.

  

Tools and Resources

  Honor FX provides useful trading tools and educational resources, including market analysis and trading videos. However, the lack of advanced research tools and webinars may hinder the learning experience for some traders.

  

Customer Service & Support

  While customer support is available 24/5, the absence of weekend assistance may leave traders without help during critical trading periods. Response times are generally quick, but users have noted that responses may lack detail.

  

Trading Experience

  The trading experience on the MT5 platform is generally positive, with a wide range of instruments available. However, some users have reported issues with execution speeds during high volatility.

  

Trustworthiness

  The trustworthiness of Honor FX has been called into question due to its regulatory status and numerous complaints regarding withdrawal issues. Users are advised to exercise caution and conduct thorough research before investing.

  

User Experience

  Overall user experiences vary, with some traders appreciating the low entry costs and diverse offerings, while others express frustration over withdrawal difficulties and customer support interactions.

  In conclusion, while Honor FX offers competitive trading conditions and a wide range of instruments, potential users should carefully consider the regulatory environment and user feedback before proceeding.