Hankotrade Review 2023 – An All-Inclusive Guide
Hankotrade is a Forex, CFD, commodity, and cryptocurrency international broker based in Seychelles. It was established in 2018 by a successful group of investors. As a fast-growing broker, Hankotrade has served its diverse and broad clientele for half a decade.
Hankotrade Broker Review Overview
We extensively studied Hankotrade’s features and services to create a detailed review of Hankotrade. We will walk you through Hankotrade’s offerings and the benefits of signing up with them. Moreover, we will also highlight the key improvement areas of the broker.
Before moving on with today’s review, it is important to remember that trading CFDs and Forex is risky. Traders and investors can lose money while trading due to leverage. Thus, we strongly recommend consulting some financial experts for investment and trading decisions.
Wide Range of Trading Instruments
Hankotrade is popular as a Forex broker. However, the broker also provides access to CFDs, the Commodities market, and cryptocurrencies. The broker websites indicate that it provides over 60 major and minor currency pairs, 11 major international stocks, precious metals, energy resources, and cryptocurrencies, including Bitcoin, Ethereum, Litecoin, etc. The wide range of trading markets allows traders to diversify their portfolios and trade different instruments without signing up with different brokers.
Spreads, Commission, and Fees
Hankotrade account includes STP, ECN, and ECN Plus. The spread on the STP account begins from 0.7 pips with no commission charged by the broker. The spreads charged on the other 2 accounts begin from 0.0 pips. Only a few brokers of Hankotrade’s stature provide zero spread on their trading accounts.
Hankotrade is the lowest commission Forex broker as it charges $2 per side per $100K traded on its ECN account, and the commission on ECN Plus account is as low as $1 per side per $100K traded.
The broker doesn’t charge any other fees from its clients, such as deposits, withdrawals, or inactivity fees. According to our investigation, the broker strictly follows the zero-fee policy on processing traders’ withdrawal requests.
Currently, the broker offers a 100% sign-up bonus program on its website. Hankotrade credits its traders’ accounts with the same amount as their deposit. The traders will receive their bonus as a margin, which they can utilize to open bigger market positions.
To avail of this offer, traders must complete a form and deposit at least $100 in their trading accounts.
For more details about this offer, visit the following link:
Hankotrade provides its traders access to MetaTrader4 and MetaTrader5. MT4 has been a famous trading platform for traders for over a decade. It timely executes trades and also has efficient tools to conduct technical analysis.
In comparison, MT5 is an advanced successor of MT4, equipped with additional technical analysis tools and the ability to trade in more than 10 timeframes. Both trading platforms are available in web, desktop, and mobile applications.
Hankotrade accepts deposits in cryptocurrency. The broker doesn’t have other payment methods available on its website. Similarly, it processes withdrawals in cryptocurrency. However, if a trader requests, the broker can transfer the withdrawn amount through the trader’s desired money transfer channel.
Many renowned brokers provide great trading tools on their platform, enabling traders to save time and make sound trading decisions. Hankotrade also provides its clients with some basic yet essential tools to aid them during crucial trading times.
The demo account is a safe ground for traders to test their strategies and check their outcomes before risking their capital. The demo account is also an ideal practicing tool for beginner traders. They can open, close, or hold positions using virtual cash and get an idea of the working of the real market.
Hankotrade provides traders a demo account with a considerable dummy capital for virtual trading. You can open your demo account with Hankotrade with a simple registration process.
Other Trading Tools
Besides a demo account with good dummy capital, Hankotrade provides 4 Forex calculators to quickly calculate Pip, Swap, margin, and commission to save traders’ time. Traders can also benefit from an e-calendar that displays important dates and events. E-calendar makes it easier for traders to devise a smart strategy according to the market environment.
Another excellent tool provided by Hankotrade is a Virtual Private Server. Traders can use this tool and always stay connected to the market in case of a power failure. Moreover, a VPS ensures the quick execution of trades without any delays.
Safety and Security
It is challenging to trust a broker with your hard-earned money. Many individuals are paranoid about the broker’s legitimacy and its performance. Hankotrade has been serving the market for half a decade. Over this time, it has earned the trust of many reputable traders from all over the world. You can easily search for detailed Hankotrade Broker Reviews online to understand the broker’s services.
Key Areas of Improvement for Hankotrade
After our thorough research and understanding of Hankotrade broker, we have identified 2 key areas where the broker needs to work to benefit its clients.
Introduce More Payment Methods
The first shortcoming of Hankotrade is that it only accepts deposits in cryptocurrency and doesn’t offer any other payment mode. Brokers provide the option of Bank transfer, PayPal, Apple Pay, Skrill, etc., to make it easier for traders to fund their accounts.
The broker must work on introducing more payment methods to make deposits easier for its customers.
Include Educational Material on the Website
The broker doesn’t offer educational material like eBooks, seminars, glossaries, etc. Many reputable brokers provide a separate section on their website and regularly update it with the latest trading content. This information informs traders of market patterns and allows them to curate sharp and effective trading strategies.
The Bottom Line
Trusting a new Forex broker is a tough decision. After all, it’s the REAL money at stake. Hence, we always recommend traders never sign up with a broker in haste. Always investigate the broker from its real traders and read its terms and conditions, so you are not in the dark about its policies.
Based on our research, Hankotrade is a good choice of a broker with various account types to suit every trader. Moreover, the tight spreads, minimal commission, and small deposit requirements make it convenient for new traders to begin their trading journey with Hankotrade.