Company Overview
HonorFX is owned by Honor Capital Markets Limited, which is registered in Mauritius. The company has offices in Malaysia, the United Kingdom, and Australia.
Does HonorFX Have Any License?
Yes, HonorFX is licensed by the SVGFSA. However, as mentioned above, the SVGFSA is considered to be a weak regulator.
Is HonorFX Regulated By Any Authority?
No, HonorFX is not regulated by any major regulatory body, such as the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US.
Packages and Products They Offer
HonorFX offers a range of trading accounts, including Standard, Premium, and ECN. The account types differ in terms of leverage, spreads, and commissions. The broker also offers a variety of trading products, including forex, CFDs, and cryptocurrencies.
Withdrawal and Deposit Method
HonorFX offers a variety of deposit and withdrawal methods, including credit/debit cards, bank transfers, and e-wallets.
What Do Their Previous Traders Say?
There are numerous complaints against HonorFX from traders who have lost money. These traders allege that the broker has engaged in unethical practices, such as manipulating spreads and stop-loss orders.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with HonorFX, you may be able to recover your funds through a recovery service. At Report Scammed Bitcoin, we offer free consultation calls and recovery service recommendations. We can help you assess your case and connect you with a reputable recovery service.
Final Thoughts
HonorFX is a scam broker that you should avoid. There are many reputable forex brokers out there, so there is no need to risk your money with HonorFX.
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