We’ve conducted an in-depth assessment of Hankotrade to assist you in deciding if it’s a worthwhile investment of your time and money. Our analysis will explore the platform’s strengths and noteworthy features.
Hankotrade Broker Summary
Hankotrade Brokerage is a CFD, Forex, Commodities, and Cryptocurrency brokerage firm founded in 2018 and headquartered in Seychelles. The company’s primary goal is to offer traders a competitive and advantageous trading environment.
Throughout its years in operation, Hankotrade has grown and now serves many traders globally. As a result, it has gained recognition as one of the fastest-growing brokers in the industry.
Is Hankotrade the Lowest Commission Forex Broker?
Hankotrade offers traders a highly competitive fee structure, with zero fees charged on its STP account and only $2 per side per 100K traded on its ECN account.
In addition, its ECN Plus account incurs a commission of only $1 per side per 100K traded. This competitive spread by Hankotrade places it among the top lowest-commission Forex brokers in the market.
What Is The Maximum Leverage Ratio That Hankotrade Offers?
Hankotrade provides an attractive feature for experienced Forex traders with its 1:500 leverage ratio, which is favored by pro traders who seek brokers with the highest leverage on trading accounts. This allows traders to open positions exceeding their current funds, providing greater trading flexibility.
What is the Spread of Hankotrade Trading Accounts?
Hankotrade provides competitive spreads on its STP trading account, with rates as tight as 0.7 pips. Additionally, its ECN and ECN Plus accounts have spread as low as $0.
Is Hankotrade a Recommended Broker for Beginner Traders?
Hankotrade is a great choice for novice traders due to its low initial deposit requirement of only $10 and minimal account requirements. Additionally, the broker’s competitive spreads and affordable commissions make it a favorable option for inexperienced traders starting in the market.
Does Hankotrade Offer an Islamic Account?
Hankotrade recognizes the religious beliefs of its Muslim clients and offers swap-free Islamic trading accounts. With an Islamic account, traders are not charged rollover interest on overnight positions, allowing them to enjoy the advantages of the trading account without worrying about swap commissions.
Is Hankotrade a US Regulated Broker?
Hankotrade is a reputable broker based in Seychelles, regulated by the Financial Services Authority (FSA) of Seychelles. The broker strictly adheres to all the rules and regulations set forth by the financial regulatory body, ensuring a safe and secure trading experience for its clients.
Traders from the US region can take advantage of Hankotrade’s exceptional trading services without hesitation, despite the broker not having a US regulatory license. The broker is strongly committed to regulatory compliance, ensuring the safety and security of its clients’ funds and personal information.
Additionally, Hankotrade’s reputation as a reliable broker with a track record of serving clients globally further reinforces traders’ confidence in their ability to provide an outstanding trading experience.
How to Open an Account with Hankotrade?
1. Sign up with the Broker
Hankotrade has a straightforward registration process. You will need to confirm your eligibility by providing some basic information.
2. Account Verification
Once you submit your application, the Hankotrade team will verify your details. After verifying your account, you will receive an email containing your login information.
3. Access Your Account
Using the login details provided by Hankotrade, you can access your trading account through the Hankotrade client portal.
For security reasons, we recommend changing your password upon the first login.
4. Fund Your Account
Before you can start trading, you need to deposit into your account. Hankotrade offers demo accounts for testing purposes, but real trading requires a minimum deposit, which varies depending on your account type.
Hankotrade only accepts deposits via cryptocurrencies.
5. Begin Trading
Once you deposit, you can start trading Forex, CFDs, and commodities with Hankotrade.
What is Hankotrade’s Introducing Broker Program?
Hankotrade’s “Introducing Broker” program rewards traders who bring new customers to the broker. If someone they refer to Hankotrade makes a successful trade, the trader who referred them will receive a bonus. Hankotrade offers a high referral commission rate of 40%, more than other brokers usually offer.
Does Hankotrade Offer Negative Balance Protection On Its Trading Accounts?
Having Negative Balance Protection on your trading account is essential, as it protects you from unforeseen market movements that could cause your account balance to drop below zero. Hankotrade understands the importance of this feature and has made it available on all its trading accounts.
This ensures that in the event of a market swing that goes against your positions, you won’t incur losses beyond your initial investment. With Hankotrade’s Negative Balance Protection, you can trade confidently, knowing that your account balance is always protected.
Does Hankotrade Support Forex EAs On Its Trading Accounts?
Hankotrade allows using Expert Advisors (EAs) on its trading accounts, automating trading strategies based on pre-set conditions. The broker provides several trading platforms, such as MetaTrader4 (MT4) and 5 (MT5), which support EAs.
How Does Hankotrade Ensure the Security of Its Clients’ Funds and Personal Information?
Hankotrade takes the security of its clients’ funds and personal information very seriously. The broker ensures the safety of its clients’ funds by segregating them from the company’s operating funds in top-tier banks.
Moreover, Hankotrade uses Secure Sockets Layer (SSL) encryption technology to protect clients’ personal and financial information from unauthorized access. The broker also employs two-factor authentication to ensure secure client account access.
Additionally, the broker’s regulatory compliance ensures that it follows the best security and risk management practices.
Do Traders Trust Hankotrade?
Hankotrade has been operating in the financial trading markets for several years and has built a reputation as a reliable and trustworthy broker.
Hankotrade has received high praise from traders on Trustpilot.com, which holds a stellar 4.8-star rating based on over 400 reviews. Check out these screenshots to see some of the positive Hankotrade reviews from satisfied clients who have expressed their delight and approval of the service provided by Hankotrade.
The Bottom Line: Is Hankotrade Worth Your Time and Money?
Hankotrade has positioned itself as a reliable and trustworthy broker in the industry, offering a range of trading accounts and tools for traders of all levels. With its commitment to regulatory compliance, innovative technology, and superior customer support, Hankotrade has established a solid reputation among traders. Its negative balance protection, tight spreads, and fast execution make it attractive for those seeking a secure and efficient trading experience.
Overall, Hankotrade has proven to be a competitive player in the industry and a broker worth considering for traders looking for a reliable and unbiased trading partner.