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HonorFX

Severe riskForex / CFD broker
🇻🇨 Saint Vincent and the Grenadines · 5-10 years · since 2019-05-24 · Honor Capital Markets Limited
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
23 reviews ›
0
Licenses ›
24
Withdrawal issues ›
$1000
Min. deposit ›
1:500
Max leverage ›
3
Account types ›
75/100
Scam risk ›
0
Clone sites ›
Accounts: STANDARD · $ 1000PREMIUM · $ 2000ECN · $ 10000
▲ 83% positive▼ 13% negative
Independent ratingshow third parties score this broker
WikiFX2.37/10
Trustpilot—/5
Forex Peace Army—/5
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HonorFX operates in your country (United States) — but holds no local license. You’d likely be onboarded under an offshore entity, which means weaker fund protection. Confirm which entity before depositing. We’ve logged 2 complaint(s) from United States.
75
Severe risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • Registered in Saint Vincent and the Grenadines (offshore, light oversight)
  • 16 user exposure/complaint reports filed
  • Withdrawal complaints in ~104% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age2215%
Clone / impersonation012%
Withdrawal & exposure complaints10012%
Offshore registration808%
Transparency (site/info/social)2510%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameHonor Capital Markets Limited
Headquarters🇻🇨 Saint Vincent and the Grenadines
Founded2019-05-24
Years operating5-10 years
Employees0
Official websitehonorfx.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods13 · MASTER, VISA, Bank, transfer
Withdrawal methods13 · Bank, transfer, VISA, MASTER
InstrumentsFX MajorFX CrossessFX MinorFX TRYSpot MetalsCFDsSpot IndicesShares
Registered address
(Representative Office) API Tower Office No - 1604, 16th Floor Shk Zayed Road, Dubai Outside Exit 2 of Trade Centre Metro Station Dubai, United Arab Emirates

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Account types · 3

AccountMax leverageMin. depositMin. spreadCommissionEA
STANDARD1:500$ 1000from 1.5--✓
PREMIUM1:500$ 2000from 1.8--✓
ECN1:200$ 10000----✓

Review analysis AI

HonorFX operates with a regulatory structure that is common among offshore brokers, relying on licenses in Mauritius and Labuan while the St. Vincent entity is unregulated. The high minimum deposits and max leverage point to a strategy aimed at funded traders, but the absence of a top-tier regulator and limited independent user reviews raise caution. Our Scam Risk Score of 75/100 (Severe) reflects these regulatory gaps and the broker's short track record.

Best for
  • Traders seeking high leverage up to 1:500
  • Experienced traders with capital over $1,000
  • Those comfortable with offshore regulation
Not for
  • Beginners with small deposits
  • Risk-averse traders wanting strong regulatory protection
  • Traders requiring multi-platform support beyond MT5
Period:
What users complain about
What users praise
Where reviewers are from
Vietnam20
Turkey1
United Kingdom1
United States1

Real user reviews

Where HonorFX operates

Active across 3 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇺🇸 United States 2 complaints
🇵🇰 Pakistan
🇮🇩 Indonesia
🇦🇺 Australia 1 complaint
🇭🇰 Hong Kong 2 complaints
🇹🇷 Turkey 1 complaint
🇦🇪 United Arab Emirates 1 complaint
🇬🇧 United Kingdom 1 complaint
🇻🇳 Vietnam 8 complaints

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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What HonorFX says about itself as stated by the broker · not independently verified by FXCanary

Account Types and Trading Conditions

According to its website, HonorFX offers three account types: Standard, Premium, and ECN. The Standard account requires a minimum deposit of $1,000 and provides leverage up to 1:500. The Premium account has a minimum deposit of $2,000 with the same maximum leverage of 1:500. The ECN account is designed for high-volume traders with a minimum deposit of $10,000 and maximum leverage of 1:200. The broker claims raw spreads from 0.2 pips across these accounts.

Trading Platforms and Instruments

HonorFX states that it provides the MetaTrader 5 (MT5) platform for trading, available on desktop, web, and mobile. The broker offers a wide range of instruments including over 275+ products: FX majors, minors, crosses, FX TRY, spot metals, CFDs, spot indices, and shares. The broker highlights its multi-asset portfolio as a way to diversify risk.

Promotions and Tools

The broker promotes a gold trading offer with a $10 fixed spread on XAU/USD and a $5,000 maximum investment cap. It also provides educational resources such as e-books, a glossary, and technical analysis from Trading Central. Additionally, HonorFX offers an Introducing Broker program where clients can earn commissions for referred traders.

About HonorFX

Company Overview

HonorFX is a forex and CFD broker that began operations on 24 May 2019. The brand is owned and operated by Honor Capital Markets Limited, which has registered entities in Mauritius, Malaysia, and Saint Vincent and the Grenadines. The broker's official website is honorfx.com, and it maintains a representative office in Dubai, United Arab Emirates, at API Tower, Office No. 1604, 16th Floor, Sheikh Zayed Road.

Regulation and Licensing

HonorFX claims regulation from two jurisdictions: Honor Capital Markets Limited (Mauritius) is regulated by the Financial Services Commission (FSC) of Mauritius under an Investment Dealer license (GB200225826). Honor Capital Markets Limited (Malaysia) is registered with the Labuan Financial Services Authority (LFSA). However, the Saint Vincent and the Grenadines entity is not regulated.

Our records show no regulators on file for the broker, meaning the regulatory status of the St. Vincent entity is unclear. Traders should verify the scope of these licenses, as offshore regulation may offer limited investor protection.

Account Types and Minimum Deposits

The broker offers three account tiers: Standard, Premium, and ECN. The Standard account requires a minimum deposit of $1,000, while the Premium account requires $2,000. The ECN account targets professional traders with a $10,000 minimum deposit. All accounts offer leverage up to 1:500, except the ECN account which caps at 1:200. These relatively high minimum deposits suggest the broker is targeting more experienced or funded traders rather than beginners.

Trading Platforms and Instruments

HonorFX provides the MetaTrader 5 (MT5) platform, a widely used trading platform known for its advanced charting, automated trading capabilities, and multi-asset support. The broker's instrument list includes over 275 products: major, minor, and exotic forex pairs, spot metals, indices, shares, and CFDs. This range allows for some diversification, but the emphasis on forex and CFDs places it firmly in the retail leveraged trading space.

Target Audience and Global Reach

Based on its website and marketing, HonorFX appears to target international retail traders, particularly those comfortable with higher leverage and offshore regulation. The broker has a social media presence on Facebook, Instagram, LinkedIn, and YouTube, indicating an effort to reach a broad audience. The availability of multiple account types and a demo account suggests it aims to accommodate both new and experienced traders, though the high minimum deposits may limit accessibility for smaller retail investors.

Overview compiled by FXCanary from regulatory records and public data. full HonorFX review