Brief Look at HonorFX
International forex broker HonorFX underwent a major rebranding and operational model change. In September 2023, the company entered into a strategic agreement with major broker Orbex, under which Orbex acquired HonorFX's retail client base in the Middle East, North Africa, and Asia. Following the transfer of clients, the old brand effectively ceased to serve retail traders independently in its previous form.
The official reasons for this transformation were regulatory pressure and the need to scale the business. For several years, HonorFX had faced significant criticism from European regulators: for example, the Spanish CNMV and the French AMF blacklisted the broker for lacking licenses to operate within the EU. Furthermore, the company regularly received numerous negative reviews from clients due to delays in withdrawals and account freezes.
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