Inducement Fraud
Company Profile
- Regulation And Operation Are Subject To The Malaysian Regulatory Framework And Hold An STP (Straight-Through Processing) License. Registered In Saint Vincent And The Grenadines At The Same Time, The Operation Period Is 2-5 Years.
- The Service Scope Provides Diversified Trading Tools Such As Foreign Exchange, Precious Metals, Futures, Stocks, ETFs And Indices. Support MetaTrader 5 (MT5) Platform, Covering Windows/macOS/mobile End.
Core Advantages And Risk Tips
Advantages
- Account Diversity Standard, Premium, ECN And Islamic Accounts Are Available, Adapting To Different Trading Strategies: Standard Account: Starting At $100, Leverage 1:500, Spread From 1.5, No Commission. ECN Account: Starting At $10,000, Leverage 1:200, Spread From 0.2, Commission $7/lot. Islamic Account: Overnight Interest Free, Sharia Compliant. Negative Balance Protection Is Supported Across All Account Types, Limiting The Risk Of Loss For Clients.
- Market Instrument Abundance Forex: 40 + Currency Pairs, Including Mainstream/cross/Turkish Lira Varieties. Precious Metals: Gold, Silver, Crude Oil, Etc., Support Margin Trading. Stocks/ETFs: 65 + Popular Stocks In Europe And America (such As Amazon, Netflix) And Diversified ETFs. Indices: 90 + Global Indices (UK 100, US 30, Etc.).
- Trading Technical Support MT5 Platform Advantages: Multi-threaded Strategy Tester, Support Real Quote Backtesting. Economic Calendar, 38 Technical Indicators And Multi-language Interface. Auxiliary Tools: Terminology Library, E-books, Technical Analysis Reports And Webinars.
Risks And Deficiencies
- Received User Complaints In The Past 3 Months, And There Is A Potential Risk Of Dispute.
- Regulatory Duality (Malaysia + Offshore Regulation) Requires Careful Verification.
- High Threshold For ECN Accounts ($10,000) May Restrict Small Capital Users.
Detailed Account And Trading Conditions
- Forex/Precious Metals: Up To 1:500 (standard Account), Reduced To 1:200 For ECN Accounts.
- Stocks/ETFs: Leverage Ratio Is Low (usually 1:5 To 1:10), Specific Inquiry Is Required.
- Spread: ECN Account Is Optimal (from 0.2 Points), 1.5 Points For Standard Account, 1.8 Points For Premium Account.
- Commission: Only ECN Accounts Are Charged 7 USD/lot, Other Accounts Are Free Of Commission.
- Overnight Interest: Swap Fees May Be Incurred For Instruments Other Than The Main FX/Metals For Premium Accounts.
Deposit And Withdrawal Process
- Supported Methods Deposit: Bank Telegraphic Transfer, Credit Card (Visa/Mastercard), E-wallet (Skrill/Neteller, Etc.), Local Transfer (Malaysia/Indonesia, Etc.). Withdrawal: Same Deposit Channel, Processing Time ≤ 1 Business Day.
- Fee Policy Zero Processing Fee For Deposits, But Payment Providers May Charge Withdrawal Fees (e.g. Bank Telegraphic Transfer). Minimum Deposit Is Differentiated By Account Type (Standard/Islamic $100, ECN $10,000).
Customer Support And Compliance Limits
- Service Channels Live Chat: 24/7 Online Support On The Official Website. Email: Helpdesk@honorfx.com (reply Within 24 Hours). Tel: + 97142105333 (UAE), + 23052970920 (Mauritius).
- Dubai, UAE (API Tower), Port Louis, Mauritius (The Catalyst Tower).
- Not Served In The United States, Japan, Canada British Columbia/Quebec, FATF Blacklist Countries.
Market Instrument Segmentation
- Covers 40 + Currency Pairs Such As EUR/USD, GBP/USD, With Spreads As Low As 0.2 Pips (ECN).
- Gold, Silver, Crude Oil (Brent/WTI), Etc. Trading Hours And Margin Rates Vary Depending On The Variety.
- US Stocks (Amazon, Boeing), European Stocks And ETFs, Support Long And Short Trading.
- Global 90 + Indices (cash/forward Contracts), Such As UK100, US30, DE30.
Trading Platform Features (MT5)
- Core Features Multi-asset Support: One-stop Trading For Foreign Exchange, Stocks, Futures, And Options. Strategy Tester: Back-testing Of Historical Data And Simultaneous Analysis Of Multiple Currencies. Order Management: Support For Fill Or Kill, Hedging, And Partial Closing Strategies.
- Economic Calendar, Market Depth Information, MQL5 Community Communication.
User Notes
- Despite Providing Negative Balance Protection, High Leverage (1:500) May Amplify Losses And Require Strict Risk Control.
- St. Vincent Registration Is Not Strictly Regulated And Relies Mainly On Malaysian Licenses. It Is Recommended To Verify The Regulatory Status.
- Historical Complaints Need To Be Actively Communicated By Mail/phone, And Transaction Records Should Be Retained For Dispute.
Conclusion
As A Multi-asset Broker, HonorFX Attracts Traders Of Different Levels With Its MT5 Platform, Low Spread Accounts, And Rich Market Tools. Its ECN Accounts Are Suitable For High-frequency/institutional Clients, While Standard Accounts Lower The Entry Threshold. However, The Offshore Regulatory Background, Recent Complaint Records, And Some High-risk Characteristics (such As Ultra-high Leverage) Require Careful Evaluation By Investors. It Is Recommended To Fully Test The Demo Account Before Opening An Account, And Give Priority To The Scope Of Services That Are Strictly Regulated (e.g. Malaysia).
