The 5 best Forex Brokers & platforms in Honduras – Comparison & reviews

If you wish to start your forex trading journey but can’t decide on a broker, this is the right article. You will find a review of the five best forex brokers in Honduras below.

See the list of the best Forex Brokers in Honduras:

Forex Broker:
Review:
REgulation:
Spreads:
Assets:
Advantages:
Open account:
1. Capital.com
Capital.com logo
CySEC, FCA, ASIC
Starting 0.0 pips variable & no commissions
6,000+
(70+ currency pairs)
+ Best platform
+ TradingView charts
+ MT4
+ Leverage up to 1:500
+ Best education
+ Personal support
Live-account from $ 20(Risk warning: 79% of retail CFD accounts lose money)
2. BlackBull Markets
BlackBull Markets logo
FSPR, FSCL
Starting 0.0 pips & negotiable commission per 1 lot
500+
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 79% of retail CFD accounts lose money)
3. RoboForex
RoboForex logo
IFSC
Starting 0.0 pips & $ 4.0 commission per 1 lot traded
9,000+
(50+ currency pairs)
+ Huge variety
+ Micro accounts
+ Free bonus program
+ Leverage up to 1:2000
+ ECN accounts
+ MT4/MT5/cTrader
Live-account from $ 10(Risk warning: 79% of retail CFD accounts lose money)
4. Pepperstone
FCA, ASIC, DSFA, SCB
Starting 0.0 pips & $ 3.5 commission per 1 lot
1,000+
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)
5. IQ Option
IQ Option logo
CySEC
Starting 0.1 pips variable & no commission
500+
(25+ currency pairs)
+ Easy to use
+ Binary Trading
+ Support 24/7
+ Min. Deposit 10$
+ Lowest spreads on main trading hours
Live-account from $ 10(Risk warning: Your capital might be at risk.)

5 best forex brokers in Honduras: 

  • Capital.com
  • BlackBull Markets
  • RoboForex
  • Pepperstone
  • IQ Option

1. Capital.com

The official website of the forex broker Capital.com

Capital.com went live in 2016 and has its operations headquartered in England. Australia, Gibraltar, Cyprus, and Seychelles are also homes to Capital.com branches. When it comes to foreign exchange trading, they are a popular choice because they provide services at low-cost trading rates.

The National Bank of the Republic of Belarus, the Australian Securities and Investments Commission, and the Cyprus Securities and Exchange Commission are the regulatory bodies that keep an eye on this firm.

An initial deposit of twenty dollars is required to use Capital.com. When depositing money via bank transfer, however, customers must make a minimum deposit of $250. You can select one of the following five primary base currencies: USD, PLN, AUD, GBP, or EUR.

The single account option available to Capital.com customers is the Standard Account. Creating an account is a simple process that you can complete in five minutes or less. In order to finish the process of creating an account, you will need to enter certain fundamental information, such as your birth date, full name, location, and any form of legitimate identification. 

Opening an account with Capital.com

Forex traders who are new to the market will find loads of training courses and videos on the broker’s website. In addition to that, a free demo account is provided. Customers are able to get access to the trading platform and become acquainted with the various tools as well as the movement of the market as a result of this.

The trading platform offered by Capital.com may be used on mobile devices, making it convenient for users who want to carry out transactions while on the go. Customers may also use tablet computers and mobile phones throughout the trading process. The platform also supports more than 25 different languages.

You may contact customer support via phone, live chat on the platform and website, or by sending an email at any time of the day or night. It is accessible around the clock, every day of the week.

Capital.com logo

Summary:

  • The minimum deposit you need to make is $20. 
  • The broker has licenses from the NBRB, the FCA, and the CySEC.
  • The broker does not charge any kind of fee.
  • Spreads begin at just 0.6 pips.
  • The broker takes Neteller, iDeal, Qiwi, Skrill, MasterCard, Visa, bank transfer, and WebMoney as ways to pay.

Disadvantages of trading with Capital.com

Capital.com requires their client to submit a valid ID within 15 days of filling out the registration form. If you fail to do this, the broker will close your account, and you will have to fill up the registration form again.

(Risk warning: 79% of retail CFD accounts lose money)

2. BlackBull Markets 

The official website of the Forex Broker BlackBull Markets

BlackBull Markets started its operations in 2014 and is very popular among people who trade foreign exchange. Even though it is based in New Zealand, it has offices in New York, the United Kingdom, Indonesia, and Malaysia.

This particular broker is subject to the oversight of both the Financial Services Authority of Seychelles and the Financial Markets Authority of New Zealand. The minimal fees associated with using BlackBull and its intuitive user interface attract many traders.

BlackBull Markets gives its customers the option of opening either a Prime or Standard account. Both accounts need different initial deposits, and they have varying spreads and commission rates as well.

BlackBull Markets account types

A minimum deposit of $200 is necessary to open a Standard Account, while a minimum deposit of $2,000 is necessary to open a Prime Account. Spreads on Prime Accounts may start as low as 0.01, whilst spreads on Standard Accounts may reach a minimum of 0.8. Customers with Standard Accounts do not incur any fees. However, consumers with Prime Accounts do incur a fee of $6 for each lot traded.

There are nine distinct types of primary currencies available for use. The Canadian Dollar (CAD), the Japanese Yen (JPY), the South African Rand (ZAR), the New Zealand Dollar (NZD), the Australian Dollar (AUD), the British Pound (GBP), and the United States Dollar (USD) are all examples of these currencies. When you withdraw money from this broker, a charge of $5 will be deducted from your account. The cost will be $20 if you decide to withdraw funds from an international bank.

The website has a large number of educational classes as well as publications. You may also access a video instruction for the trading platform, which will assist you in navigating the site. The usage of a demo account is completely free of charge, and the brokerage firm will provide the account with virtual money.

BlackBull Markets education center

The online trading platform also provides a mobile version, enabling traders to do business from almost any location. There is support for a wide variety of languages, including English, Serbian, Chinese, Spanish, Uzbek, and Thai.

You can contact the customer support representatives through email, live chat, or the traditional telephone. On the other hand, you cannot reach them at any time, day or night, seven days a week. Instead, it is only open 24/5.

Summary: 

  • The initial investment amount required is $200.
  • Both the FSA and the FMA have issued a license to the brokerage.
  • The brokerage will charge you a commission fee of $3 for each transaction.
  • Spreads start at 0.8 pip increments.
  • The following methods are acceptable for making payments: bank transfer, Skrill, Neteller, credit card, debit card, FasaPay, and China Union Pay.

Disadvantages of trading with BlackBull Markets

Trading with BlackBull Markets only has one drawback, and that is the fact that the broker will charge you a fee every time you withdraw your money.

(Risk Warning: Your capital can be at risk)

3. RoboForex

The official website of the Forex Broker RoboForex

RoboForex is widely regarded as a leading broker in the foreign exchange business. In 2009, it was established, and its headquarters are now situated in Belize. The International Financial Services Centers Authority oversees the activities of this broker and keeps them under check.

There are six distinct kinds of accounts available for your consideration. The R Trader, ECN-Pro, Pro-Cent, Prime, and Pro-Standard are all examples of these types of brokers. Due to the fact that it is a micro account, the Pro-Cent account comes highly recommended for novice traders. Micro accounts are perfect for beginners who want to get some experience trading while also making real-world investments at the same time.

RoboForex account types

The broker does not charge any fees associated with deposits or withdrawals. On the other hand, they do have a cost for inactivity. You can use the following currencies for transactions: rubles, yuan, bitcoin, dollars, and euros. Gold can also be used.

The website has a multiplicity of movies, news articles, and educational papers that provide newcomers with all the knowledge that they want. A fantastic feature that this brokerage offers is a sample account, and they also host tournaments on a weekly and monthly basis to encourage traders to hone their investing skills via practice and competition.

RoboForex Logo

The web-based trading platform is accessible via a desktop computer and smartphones or tablets. Additionally, it provides copy trading, which enables you to mimic the actions of other investors so that you may learn from their strategies.

Assistance with customer service is offered in more than ten different languages. They may be reached through email and phone at any time of the day or night, seven days a week. A live chat feature may be accessed either via the trading platform or the website of the broker.

Summary: 

  • The required minimum deposit is $10.
  • The IFSC and CySEC both issued licenses to the brokerage.
  • The broker imposes a $2 commission fee.
  • Spreads begin at 1.3 pips.
  • Payment options include Advcash, Skrill, Neteller, Perfect Money, debit card, credit card, and bank transfer.

Disadvantages of trading with RoboForex

There are only 36 forex pairs available on RoboForex’s trading platform.

(Risk Warning: Your capital can be at risk)

4. Pepperstone

The official website of the Forex Broker Pepperstone

The year 2010 saw the establishment of this forex brokerage in Australia, which is also home to the company’s headquarters. It opened a second office in London in 2015 to provide improved support to its customers in Europe.

Pepperstone is subject to the monitoring and regulation of the Financial Conduct Authority as well as the Australian Securities and Investments Commission. Negative balance protection is also offered to the vast majority of their customers.

There is just one live trading account available with Pepperstone. However, there is no required minimum investment. In addition, the brokerage does not charge a fee for making withdrawals and does not charge an inactivity fee. You are welcome to make use of the risk-free demo account if you do not feel that you are quite ready to trade real money yet.

How to open a free demo account with Pepperstone

The trading platform is available from whatever device you want to use. There is also a web-based platform available for those who do not want to install the program on their computers. It is also available in various additional languages for users’ convenience.

Phone and live chat are the only two channels via which customers may contact customer support around the clock, seven days a week. You may have peace of mind knowing that they will address your concerns in the shortest amount of time possible since the broker guarantees that their customer service department provides prompt and efficient responses to all questions.

Summary:

  • The brokerage requires no minimum deposit.
  • ASIC, the FCA, and CySEC all regulate this brokerage.
  • The clients pay a $3 commission fee.
  • The spread begins at 0.0 pip.
  • Poli, Bpay, PayPal, Neteller, Skrill, Union Pay, debit card, credit card, and bank transfer are all payment options allowed by the broker.

Disadvantages of Trading with Pepperstone

The one drawback of trading with Pepperstone is that customer service is only accessible 24 hours a day, five days a week. 

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

5. IQ Option

The official website of the forex broker IQ Option

IQ Option is a brokerage company with headquarters in Cyprus. The company started operations in 2013 and now provides services to clients in over 200 countries worldwide. The Cyprus Securities and Exchange Commission is responsible for monitoring the company’s operations. It is well-known worldwide as a broker that deals in binary options (Only for professional traders and outside EAA countries) and forex.

You can choose between a basic account or a VIP account while working with this brokerage. To open a Standard account, all you need is ten dollars, and you should be able to begin trading as soon as the account is activated. First, you will need to invest a particular amount of money before being eligible for a VIP account. The minimum amount needed varies considerably from broker to broker.

EUR, GBP, and USD are the three options for base currencies that are accessible. The broker does not levy any fees associated with withdrawals. However, suppose you choose to remove money from your account via a bank transfer. In that case, you will be required to pay the bank’s nominal processing fee to do so.

IQ Option payment methods

Before signing up for a genuine account, you may test out the platform’s features by using the free demo account, which comes with a starting sum of $10,000 worth of virtual currency in the wallet. The trading platform is accessible through desktop computers as well as mobile devices, and it is offered in more than ten distinct languages.

Email, live chat on the website or platform, and phone support are all available to customers seeking assistance with their purchases. Because there are more than 80 workers now on-site, any inquiry or criticism should be dealt with within the next few minutes.

Summary: 

  • A minimum deposit of $10 is required for this brokerage.
  • CySEC regulates this brokerage.
  • Each transaction requires a $3 charge from the client.
  • Spreads begin at 0.6 pips.
  • The broker accepts Maestro, Moneybookers, Web Money, Skrill, Neteller, Cash U, debit card, credit card, and wire transfer as payment options.

Disadvantages of trading with IQ Option. 

This brokerage does not provide the Meta Trader platform. Instead, you must trade through its proprietary trading platform.

(Risk warning: Your capital might be at risk.)

What are the financial regulations in Honduras?

The country strictly follows the rules implemented by the FSL or Financial System Law. The FSL is responsible for regulating financial institutions as well as banks in Honduras. 

CNBS Honduras logo

The banking system in the country is monitored by more than ten private banks that have been authorized by the CNBS or National Banking and Insurance Commission.

(Risk warning: 79% of retail CFD accounts lose money)

Security for traders from Honduras

Honduras flag

When choosing a broker to work with, you need to be very careful about your money and personal information safety. There are a lot of fake sites out there that try to trick you into giving them a lot of money.

To be able to trust the broker you are trading with, they must be regulated by a well-known body. Also, check if they offer insurance or anything else to protect you from risks and losses you don’t want.

Make sure your money is in a separate account as well. So, the broker can’t use your money to make money for themselves. This also keeps hackers and other people from getting to your money.

Is it legal to trade Forex in Honduras?

Yes, it is legal to trade forex in Honduras.

How to trade Forex in Honduras – Quick tutorial

1. Open account for Honduran traders

How to open an account with Capital.com

The account opening processes for all of the brokers on our list are quite straightforward. Any other brokers who aren’t on our list are subject to the same rules. Each brokerage has an application form you must submit. Your entire name, phone number, email address, and country of residence are among the details that are required.

After that, you’ll be prompted to confirm your identity. Some brokers may issue an email including a confirmation link which you have to click. Others will require that you produce a real government-issued ID to confirm your identity. Some may even contact you by phone in order to finalize your live trading account.

2. Start with a demo account or real account

Opening an account with Capital.com

A demo account provides you with access to a virtual trading environment that replicates real-time market circumstances. This will assist you in getting acquainted with how the market operates so that you are completely prepared when you begin trading live.

The contrast between a live and a demo account is that a demo account allows you to trade with virtual money. However, everything you make on the demo account does not equate to real money.

Anybody may use a completely free demo account. It’s an excellent venue for newcomers to learn about market movements and various trading tactics. Experts also utilize this free service to build new trading strategies and improve their trading skills.

3. Deposit money

Depositing money with Capital.com

Once you finish verifying your account and practicing on a demo account, you can deposit funds to your account so you can start trading live.

The deposit process for each broker varies. Make sure to read up on the available top-up methods and check if there is a deposit fee. 

Notice:

The payment methods are depending on your country of residence. Forex Brokers are offering all kinds of methods separately for each country.

4. Use analysis and strategies

Capital.com - Trend trading explanation

Before executing a trade, you should fully analyze the market and its movements so you can devise a strategy that will give you a higher chance of turning a profit.

A common strategy used by traders is trend trading. This long-term trading technique involves tracking the market’s movement or latest trend for a certain currency pair. This entails selling during downtrends and purchasing during uptrends.

Another popular strategy is scalp trading. This is often used by traders who have the time to observe the market for long periods. This strategy seeks to increase profits while minimizing losses.

5. Make a profit

As long as you analyze the market and do your own research, you will increase your chances of gaining. Additionally, following a risk management plan will help minimize your losses.

(Risk warning: 79% of retail CFD accounts lose money)

Conclusion: The best Forex Brokers are available in Honduras

With so many forex brokers to select from in Honduras, it might be difficult to choose the right one for you. It’s always good to check other testimonials and try out a few different brokers before settling on one in particular. 

FAQ – The most asked questions about Forex Broker Honduras :

How can a trader in Honduras earn profits while trading forex?

A trader in Honduras can earn profits while trading forex once he learns how to conduct a proper technical analysis. Only a proper technical analysis helps a trader fetch profits while trading. It is because a trader can know all the movements of an asset. Thus, he can decide whether to invest in any forex. Thus, they can trade forex with more profits. 

Is a demo trading facility available for traders in Honduras?

Yes, traders in Honduras can use a demo trading account if they are beginners. Besides, professional forex traders can sign up for a demo trading account. It will allow traders to test the features of the trading platform. They can also learn how to manage their forex trading risks well while trading. 

Which forex brokers in Honduras offer a good number of underlying assets to traders?

Traders in Honduras or elsewhere should pick a broker who allows them access to several underlying assets. It enhances their trading experience and makes them diversify their trades. The five forex brokers reviewed here offer the greatest underlying assets to traders wishing to trade forex. 

Last Updated on January 27, 2023 by Arkady Müller