HonorFX
2.8

HonorFX

Regulation: FSC Financial Services Commission of the Republic of Mauritius

Pros
  • A wide range of currency pairs
  • Negative protection
Cons
  • Ridiculously high deposit requirement of $1,000
  • The minimum deposit amount for ECN accounts is $10,000
  • only Metatrader 5 platform

Reviewed broker: HonorFX

Location: Mauritius

Regulation: FSC Financial Services Commission of the Republic of Mauritius

Operated by: Honor Capital Markets Limited (Mauritius)

Trading instruments: Forex, Spot Metals, CFDs, Spot Indices, Shares, Cryptocurrencies

Trading Conditions and Features 

Negative balance protection: yes

Minimum spread 0.2 EUR/USD; 0.5 GBP/USD; 0.8 USD/JPY

Margin rate 50%

Stop out 30%

Leverage: From 1:10 to 1:500

Order Execution: market

Minimum Volume in Lots/Trade 0.01

Access to over 40 currency pairs

Spreads from 1.5

Trade in 165+ Instruments – Trade in global markets across 5 asset classes

Account Types

Standard Account: The standard account is the entry-level account with HonorFX, it requires a minimum deposit of $1000 and has spread starting from 1.2 pips, it does not have any added commission. It uses the MetaTrader 4 and MetaTrader 5 trading platform. There is a margin call level set to 50% and the stop out level is set to 30%. There is also a minimum trade size of 0.01 lots and a maximum trade size of 20 lots. Leverage can be set between 1:10 and 1:500.

ECN Account: The ECN account requires a minimum deposit of $10,000 and it uses the MetaTrader 5 platform exclusively. It can have a leverage of between 1:10 and 1:500 and it uses the raw spreads. The margin call and stop out level remain at 50% and 30% respectively. The minimum trade size is 0.01 lots with the maximum trade size is 20 lots.

Islamic Account: The Islamic account is for those whose religious beliefs do not allow for interest payments. It requires a minimum deposit of $2000 and has spreads starting from 1.5 pips, it does not have any added commission. It uses the MetaTrader 5 trading platform only. There is a margin call level set to 50% and the stop out level is set to 30%. There is also a minimum trade size of 0.01 lots and a maximum trade size of 20 lots. Leverage can be set between 1:10 and 1:500. 

PAMM 

With HonorFX’s Percentage Allocation Management Module (PAMM) service, you can tap into the expertise and track record of experienced traders. You have the option to allocate your funds to their accounts and let them handle the trading. As a PAMM Investor, you’ll gain a share of their profits based on your investment.

  • Generate earnings without requiring expertise in financial markets 
  • Select from a variety of seasoned managers 
  • Attain flexibility via clear trading conditions 
  • Access user-friendly reports for monitoring your investment

Trading Platforms

Metatrader MT5

1 Trading platform, unlimited opportunities MT5

Metatrader 5 is an advanced version of the widely used MT4 platform with several improvements and additional features.

  • Suitable for experienced traders
  • Sophisticated order management tools
  • Introducing more native technical indicators
  • Easy to configure and customize your trading setup 

FOR NEW TRADERS

  • Start Trading with Micro lots
  • Discover MT4/MT5 Platform
  • No minimum deposit
  • Use leverage upto 1:500
  • Access Free Trading Education

FOR EXPERIENCED TRADERS

  • Advanced Trading Tools
  • Fast, Automated Execution
  • Tight Spreads
  • Tier 1 Liquidity
  • Expert News & Analysis

Payment Methods

Payment options include Credit Cards, Paytrust, Fasapay, GB Pay, Ecompany

Minimum deposit requirement: $1000

Promotions and Bonuses

100% available Bonus to Increase your Deposit 

Customer Support and Education

HonorFX provides customer support via email, via online chat and by telephone. Supported languages – English, Hindi, Arabic, Gujarati, Urdu, Polish, Russian, Ukrainian, Thai.

On the broker’s site you can find daily market analysis, some basic trading articles, webinars, economic calendar.

How was the rating of HonorFX performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on HonorFX FX broker performance and features. 

Overall our online HonorFX review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online HonorFX or you find inaccurate details HonorFX broker review please get in touch with us and the changes will be applied.  

HonorFX Details

Trading Platforms
Payment Methods
Maximum Leverage
Trading Conditions
Account Options
Minimum Deposit

MT5 forex trading top platform

3.0
Regulation and Security
4.0
Platforms and Features
1.0
Deposit and Withdrawal
3.0
Educational Material
2.8 Overall Rating

top forex broker

 

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