HonorFX Review 2026

Item: HonorFX
Rating: 4.17
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: July 06, 2026

Top Brokers Overview — United States

Min. deposit $1000
Fees 8 /10
Account types 4.1 /10
Regulation 4.4 /10

4.2 /10

High risk

HonorFX User Reviews 4.0
Commissions and Fees 8.0
Regulation and Safety 4.4
Account Types 4.1
Deposit and Withdrawal 5.5
Markets and Tradable Assets 5.5
Trading Account Opening 7.0
Customer Support 3.4

HonorFX Pros & Cons

Licenses from two financial regulators.
A wide range of currency pairs and CFDs.
Trading using the MetaTrader trading platform.
Protection against negative balance.
First deposit starts from $1 on standard accounts.
Broker has a referral program.
Bonus deposit.

The minimum deposit amount for ECN accounts is $10,000.
The inability to make trades in WebTrader.
Swap Free option is available only on one account type.

TU Expert Verdict

HonorFX carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.

Top-5 Brokers Traders Prefer

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Plus500

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OANDA

6.9 /10

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EUR/USD 0.1 pips

Trading.com USA

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FOREX.com

6.9 /10

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EUR/USD 0.7 pips

HonorFX User Reviews

Score:

4 /10

5 total

5-star

0%
4-star

20%
3-star

20%
2-star

0%
1-star

60%

Pricing structure is straightforward, and spreads have been consistent. There haven't been any unexpected fees so far. It would be great though if they could add more educational resources or tools to enhance the trading experience.

HonorFX is a bucket shop. I worked with them and was very disappointed with the result. Believe me, you won’t be able to make money with this company, and if you do, then you still won’t be able to withdraw money. That’s what happened to me. They owe me $1,200.

It’s been a month since I came to honorfx from another company and now I like everything, but this period is not enough to give a full assessment of the company. I’ll write what happens next.

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Commissions and Fees

Score:

8 /10

The trading and non-trading commissions of HonorFX have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, ZForex and OANDA, to provide the most comprehensive information.

Low Forex trading fees
Tight EUR/USD market spread
No inactivity fee
No deposit fee
No withdrawal fee

Complex fee structure

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of HonorFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, HonorFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

HonorFX Standard spreads
	HonorFX	ZForex	OANDA
EUR/USD min, pips	0.3	0.1	0.1
EUR/USD max, pips	0.8	0.4	0.5
GPB/USD min, pips	0.5	0.2	0.1
GPB/USD max, pips	1.5	0.6	0.5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

HonorFX RAW/ECN spreads
	HonorFX	ZForex	OANDA
Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency).	3.5	7	3.5
EUR/USD avg spread	0.1	0.1	0.15
GBP/USD avg spread	0.1	0.15	0.2

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with HonorFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

HonorFX Non-Trading Fees
	HonorFX	ZForex	OANDA
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	0	0	0-15
Inactivity fee ($, per month)	0	0	0

Is HonorFX Safe?

Score:

4.4 /10

HonorFX has a safety score of 4.4/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Is regulated
Negative balance protection
Track record over 9 years

Not tier-1 regulated

HonorFX Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
FSC (Mauritius)	Full Name Financial Services Commission of Mauritius	Country of regulation Mauritius	Investor Protection Fund No specific fund	Regulation Level Tier-3
SVG FSA	Full Name Financial Services Authority of St. Vincent and the Grenadines	Country of regulation St. Vincent and the Grenadines	Investor Protection Fund No specific fund	Regulation Level Tier-3

HonorFX Security Factors
Foundation date	2017
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

4.1 /10

HonorFX offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.

However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.

Tight spread ECN account
Low minimum deposit
Swap Free (Islamic) account

No VIP account option
Micro lots are not available

HonorFX account types vs top competitors
	HonorFX	ZForex	Plus500
Standard	Yes	Yes	Yes
ECN/Raw spread	Yes	Yes	No
Demo	Yes	Yes	Yes
Cent	No	No	No
Micro	No	No	No
Swap Free	Yes	Yes	Yes
VIP	No	No	No
Managed	No	No	No

HonorFX accounts trading conditions

HonorFX clients can trade on standard and ECN accounts, both of which offer protection against negative balance. The accounts differ in size and trading commissions, as well as maximum leverage.

Account types:

Account Type	Description
Standard	is an account with no requirements for minimum deposit size. Leverage is up to 1:500. Floating spreads start from 1.5 pips. The Swap Free option is not available.
Premium	is an account that allows you to activate Swap Free, but only for deals with Major currency pairs and spot metals. Maximum leverage is 1:500. Spreads start from 1.8 pips, and the amount of the first deposit can vary.
ECN	is an account with the narrowest spreads, starting from 0.2 pips. The commission per lot is $7. The minimum deposit size is $10,000, and leverage is up to 1:200. An Islamic account without a swap commission is not available.

In addition to real accounts, the broker offers a demo account, which is an educational tool that allows you to test trading conditions with virtual funds.

HonorFX offers accounts for traders with varied levels of trading experience and preferences for the size of commissions per transaction.

Deposit and Withdrawal

Score:

5.5 /10

HonorFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

HonorFX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Bank wire transfers available
No withdrawal fee
No deposit fee
Bank card deposits and withdrawals

Only major base currencies available
Wise not supported
USDT payments not accepted

What are HonorFX deposit and withdrawal options?

HonorFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire.

HonorFX Deposit and Withdrawal Methods vs Competitors
	HonorFX	ZForex	Plus500
Bank Wire	Yes	No	Yes
Bank card	Yes	Yes	Yes
PayPal	No	No	Yes
Wise	No	No	No
BTC	No	Yes	No

What are HonorFX base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. HonorFX supports the following base account currencies: USD, EUR, GBP, INR, AED, MYR, IDR, THB, VND.

What are HonorFX's minimum deposit and withdrawal amounts?

The minimum deposit on HonorFX is $1000, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact HonorFX’s support team.

Markets and Tradable Assets

Score:

5.5 /10

HonorFX offers a limited selection of trading assets compared to the market average. The platform supports 275 assets in total, including 40 Forex pairs.

Indices trading
Commodity futures are available
40 supported currency pairs

Crypto trading not available
Limited asset selection

Supported markets vs top competitors

We have compared the range of assets and markets supported by HonorFX with its competitors, making it easier for you to find the perfect fit.

	HonorFX	ZForex	Plus500
Currency pairs	40	50	60
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	275	80	2800
Stocks	Yes	Yes	Yes
Commodity futures	Yes	Yes	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	No	Yes	Yes
Stock indices	Yes	No	Yes
Options	No	No	Yes

Investment options

We also explored the trading assets and products HonorFX offers for beginner traders and investors who prefer not to engage in active trading.

	HonorFX	ZForex	Plus500
Bonds	No	No	No
ETFs	No	No	Yes
Copy trading	No	Yes	No
PAMM investing	No	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

7 /10

We successfully registered an account with HonorFX in 10 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at HonorFX is $1000.

Overall, the account setup process is efficient and suitable for most traders.

Low minimum deposit requirement
Fast registration time (up to 15 minutes)
Fully online account opening process

Account approval may require extra time depending on the documentation.

HonorFX account opening
	HonorFX	ZForex	Plus500
Online Registration	Yes	Yes	Yes
Minimum deposit	$1000	$10	$100
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	10	8	5
KYC time (days)	2	1	3

Is HonorFX available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

To start trading with HonorFX broker, you need to have a user account on their website. The process of creating one consists of the following steps:

Registration. To start, fill out a form with your personal information. This can be done using the Start Trading Now or Register buttons located on the HonorFX website.
Fill out the registration form and enter your personal information (surname, name, phone number, email, address) and generate a password. After confirming the email, the company provides access to the user account. Email and password are used to access it.
Features of the HonorFX user account:
- Passing verification.
- Adding personal bank account details.

Your HonorFX user account also provides access to:

Open a trading account.
Deposit funds.
Quick access to customer support.
Work with the economic calendar.
View technical analysis from Trading Central.
Submit a request for profit withdrawal.

Customer Support

Score:

3.4 /10

The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.

In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.

Information

The company's tech staff are available 24/5. If a trader sends a question on Saturday or Sunday, they will receive a response no earlier than Monday.

Chat operators respond within 1-3 minutes
24/5 access to support

Chat responses may not be detailed
There is no form for requesting a callback on the website

If you intend to work with HonorFX or are already a client of this broker, you can contact support using the following methods:

Live Chat.
Phone call (contacts are listed on the website).
Email.

The broker serves clients in physical offices as well. They are located in the UAE, Malaysia, St. Vincent and the Grenadines, and on the island of Mauritius. The offices are open from Monday to Friday from 10:00 to 19:00 local time.

Contacts
Foundation date	2017
Registration address	Honor Capital Markets Ltd, Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent & the Grenadines
Regulation	FSC (Mauritius), SVG FSA
Official site	https://www.honorfx.com/
Contacts	helpdesk@honorfx.com

Best HonorFX Alternatives

zForex

8.1 /10

Regulation Not regulated

EUR/USD 0.1 pips

Plus500

7.6 /10

Regulation Tier-1

EUR/USD 0.5 pips

OANDA

6.9 /10

Regulation Tier-1

EUR/USD 0.1 pips

Trading.com USA

6.2 /10

Regulation Tier-1

EUR/USD 0.9 pips

FOREX.com

6.9 /10

Regulation Tier-1

EUR/USD 0.7 pips

FAQs

How are HonorFX trading commissions and non-trading fees structured for different account types?

HonorFX is assessed as having low overall fees, with a fees score of 8/10 and no charges for deposits, withdrawals, or inactivity. Standard accounts include commissions within floating spreads (for example, EUR/USD typically ranges from 0.3 to 0.8 pips), while RAW/ECN accounts use tighter market-based spreads (around 0.1 pips on EUR/USD and GBP/USD) plus a $3.5 commission per lot.

What trading accounts does HonorFX offer and how do their conditions differ?

HonorFX provides Standard, Premium, ECN, Demo, and Swap Free (Islamic) options, though it does not offer Cent, Micro, VIP, or managed accounts. The Standard account has no stated minimum deposit, leverage up to 1:500, and floating spreads from 1.5 pips, while the ECN account has spreads from 0.2 pips, a $7 commission per lot, a $10,000 minimum deposit, and leverage up to 1:200; Swap Free is available only on Premium accounts for major pairs and spot metals.

What do HonorFX user reviews and feedback say about the broker’s overall reputation?

HonorFX has a user satisfaction score of 4/10 based on 5 reviews, with 60% of ratings at 1 star and no 5-star reviews. According to user reviews, this distribution indicates that overall sentiment is mostly negative, with relatively few neutral or positive assessments reported in the available data.

What deposit and withdrawal options and conditions does HonorFX provide?

HonorFX supports deposits and withdrawals via bank cards and bank wire transfers, with no stated fees for funding or withdrawing and a minimum deposit of $1000 and minimum withdrawal of $100. The broker does not support USDT, PayPal, Wise, or BTC, and the review notes that the overall flexibility of payment methods is limited, which may lead to higher costs for some users.

Which markets and instruments can traders access with HonorFX, according to available reviews?

HonorFX offers 275 tradable assets, including 40 currency pairs, as well as stocks, stock indices, and commodity futures, but it does not provide crypto, options, bonds, ETFs, copy trading, PAMM investing, or managed accounts. Feedback in the review describes the asset range as limited compared to the market average, particularly for users seeking a broader selection or passive investment products.