Honor FX

HonorFX Exposed:

A Warning for Traders - Unmasking the Dark Side of this Unreliable and Low-Rated Brokerage

Editorial Team | June 6, 2023

In the competitive world of forex trading, selecting a trustworthy broker is crucial to ensure the safety and profitability of your investments. Unfortunately, not all brokers live up to their promises, and it is imperative for traders to exercise caution before entrusting their funds. In this comprehensive review, we delve into the unsettling reality of Honor FX, also known as HonorFX, shedding light on its numerous shortcomings that deem it an unreliable and low-rated broker. By focusing on its negative attributes, we aim to provide potential investors with a thorough understanding of the risks associated with this brokerage and urge them to consider alternative options that prioritize customer satisfaction and credibility.

The ugly side of Honor FX

Honor FX presents itself as a reputable forex broker, offering an extensive range of financial instruments such as forex currency pairs, commodities, shares, indices, and cryptocurrencies. However, beneath its alluring facade lie several concerning aspects that raise red flags and warrant careful consideration.

High Minimum Deposit and Limited Account Options:

Honor FX imposes a remarkably high minimum deposit requirement of $10,000 for ECN accounts, creating a significant barrier for traders with limited capital. Such an exorbitant entry threshold restricts access to the broker’s services and alienates a substantial portion of the trading community. Additionally, the absence of a user-friendly WebTrader platform further limits convenience and adaptability, suggesting a lack of commitment to modern trading needs. Moreover, the limited availability of the Swap Free option restricts traders’ choices, depriving them of the flexibility they seek in tailoring their trading conditions to their preferences.

Lack of Customer Friendliness and Credibility:

One crucial aspect that sets apart reputable brokers is their commitment to customer satisfaction and building strong, trusting relationships. Regrettably, Honor FX falls short in this regard. The broker’s policies and practices are deemed unfavorable and unsupportive by many traders who have had firsthand experiences. Reports of poor communication, unresponsive customer support, and lack of transparency in resolving issues cast doubt on the broker’s credibility and raise concerns about the level of service it provides to its clients.

Inadequate Educational Resources:

Education plays a vital role in empowering traders to make informed decisions and enhance their trading skills. However, Honor FX’s educational resources are lackluster and fail to provide traders with the necessary knowledge and tools for success. The limited depth and comprehensiveness of the available materials hinder traders’ growth and development, leaving them at a disadvantage compared to those with access to more comprehensive educational resources offered by reputable brokers.

Other Reputable Brokers: Why Risk Your Investment?

In a market brimming with reputable brokers that prioritize customer satisfaction and credibility, it begs the question: why risk your investment with Honor FX? Traders have numerous alternative options available, brokers that have established themselves as trustworthy and reliable through their track record of excellent service, transparent practices, and customer-centric approaches. By exploring alternative brokers that embody these values, traders can mitigate risks and embark on a more rewarding trading journey.

Last Words: We warned you!

The glossy surface of Honor FX quickly loses its luster when confronted with its concerning drawbacks. The steep minimum deposit requirement, limited account options, lack of customer friendliness and credibility, and inadequate educational resources should serve as stark warning signs for potential investors. In an industry built on trust, transparency, and customer satisfaction, it is crucial to make informed decisions to protect your investment interests.

As a trader, prioritize brokers that offer reasonable entry thresholds, a wide range of account options, robust customer support, and comprehensive educational resources. By doing so, you align yourself with brokers that value your success and are committed to providing you with the tools and support you need to thrive in the forex market.

With a plethora of reputable brokers to choose from, it is in your best interest to explore alternatives that offer superior services, a solid reputation, and a customer-centric approach. Remember, your financial future deserves the utmost care and consideration. Avoid the pitfalls of Honor FX and opt for brokers that exemplify excellence and prioritize your success.

Honor FX review summary

The HonorFX broker offers trading accounts with adapted trading conditions for both novices and professionals. On Standard accounts, there are no requirements for a minimum deposit, so a novice trader can deposit any amount at the initial stage of cooperation. It is also possible to trade with leverage, which means increasing your purchasing power with a loan provided by the broker. However, based on customer experiences and KPIs, Honor FX is NOT RECOMMENDED!

Is Honor FX Markets a legit broker?

See how Honor FX is regulated and whether you should have any concerns using it.


Honor FX pros and cons



HonorFX Highlights

🗺️ Country of regulation

New Zealand, Seychelles

💰 Trading fees class


💰 Inactivity fee charged


💰 Withdrawal fee amount


💰 Minimum deposit


🕖 Time to open an account

1 day

💳 Deposit with bank card


👛 Depositing with electronic wallet


💱 Number of base currencies supported


🎮 Demo account provided


🛍️ Products offered

Stock, Forex, CFD


BlackBull Markets has low forex and CFD trading fees and there are no deposit fees. On the other hand, withdrawal carries a charge.

Account opening

The account opening process at BlackBull Markets is fully digital, user-friendly and fast. Our account was approved within a day. On the other hand, the minimum deposit is high for Prime Accounts.

Deposit and withdrawal

BlackBull Markets’ deposit and withdrawal services are great. Several base currencies are available, there are numerous options for moving your money, and there is no deposit fee. However, the broker charges a fee on withdrawals.

Web trading platform


ActivTrades has its own web trading platform called ActivTrader. It’s highly customizable, multilingual and has a clear fee report. On the other hand, there are no price alerts.

Mobile trading platform

BlackBull Markets has a great mobile trading platform, provided by MetaTrader 4. It’s well-designed and user-friendly with good search functions, but lacks a more secure login.

Desktop trading platform

In design and functionality, BlackBulls Markets’ MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts.

Markets and products

At BlackBull Markets, you can trade real stocks, forex and CFDs. In other words, popular asset classes like bonds or ETFs are not available.


BlackBull Markets has limited research tools. Clients will not find a quality news service and the range of analytic tools is limited. As a plus, clients have access to an economic calendar and market analyses.

Customer service

BlackBull Markets has great phone, email, and live chat support. On the negative side, customer support is not available 24/7.


BlackBull Markets offers great educational tools in the form of educational videos, quality educational texts, trading platform tutorials and a demo account.


While BlackBull Markets is regulated by the top-tier Financial Markets Authority of New Zealand, the broker doesn’t offer investor protection.