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Hankotrade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://login.hankotrade.com/register, about the company's legal and temporary regulatory information, the company's address Blake Building, Corner Houston & Eyre Street, Belize City, Belize.

Hankotrade Forex Broker

Basic Information

Registered Region
Belize
Operating Period
--
Company Name
Hankotrade Global Markets Limited
Abbreviation
Hankotrade
Company employee
--
Customer Service Email Address
support@hankotrade.com
Company Website
Company address
Blake Building, Corner Houston & Eyre Street, Belize City, Belize
Keywords
5-10 years
Suspicious Regulatory License
High potential risk

Company profile

HankotradeReview SummaryFounded2019Registered Country/RegionBelizeRegulationNo regulationMarket InstrumentsForex, Indices, Commodities, CryptoDemo Account✅LeverageUp to 1:500SpreadFrom 0.7 pips (STP account)Trading PlatformHankoXMin Deposit$10Customer SupportContact formLive chatInstagramEmail: support@hankotrade.comHankotrade Information Hankotrade is an unregulated broker, offering trading on forex, commodities, indices and cryptocurrencies with leverage up to 1:500 and spread from 0.0 pip on HankoX trading platform. The minimum deposit requirement is $10.Pros and ConsPros Cons Tight spreadsNo regulationWith demo accountNo MT4/MT5 platformLow minimum deposit requirementFew contact channelsIs Hankotrade Legit? No. Hankotrade currently has no valid regulations. Please be aware of the risk! It provides negative balance protection.What Can I Trade on Hankotrade?Tradable Instruments Supported Forex✔CFDs✔Commodities✔Indices ✔Cryptos✔ETFs❌Bonds❌Stocks❌Account Type Here are four account types Hankotrade offers:Account TypeMin DepositSTP$10ECN$100ECN Plus $1000Demo account√Islamic Account√Leverage The broker offers max leverage at 1:500. The use of leverage can both work in your favour and against you. Leverage magnifies the returns from favorable movements in a currency's exchange rate.Hankotrade FeesAccount TypeSpreads Commission STPFrom 0.7 pipsNoECNFrom 0.0 pips$2 per side per $100k tradedECN Plus From 0.0 pips$1 per side per $100k tradedTrading PlatformTrading PlatformSupported Available Devices Suitable for HankoX✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Hankotrade does not have any charges on deposits and/or withdrawals for its clients. The broker accepts payments via Ethereum, Stellar, Litecoin, Bitcoin, Theta, Dfinity,etc. Deposit and withdrawal are zero. Hankotrade processes all withdrawals within one working day on business days.

Rating Index

ECN Plus

Minimum Deposit
$1,000

ECN

Minimum Deposit
$100
How to login to Hankotrade?
hankotrade Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a hankotrade Account Opening an account with hankotrade is a straightforward process that allows you to access various trading services. Heres a step-by-step g

  

Hankotrade Forex Broker - Comprehensive Information Guide

  

1. Broker Overview

  Hankotrade, established in 2018, is an online trading platform that has gained recognition in the financial markets for offering a diverse range of trading instruments. The company is headquartered in Dubai, UAE, with its primary office located at Citadel Tower, Business Bay. Hankotrade operates as a private entity, providing services to retail and professional traders alike.

  The broker primarily caters to a global clientele, enabling access to various financial markets including forex, commodities, indices, and cryptocurrencies. Since its inception, Hankotrade has focused on delivering competitive trading conditions and a user-friendly experience. Over the years, it has made significant strides in expanding its offerings and improving its platform, aiming to attract both novice and experienced traders.

  Hankotrade operates under a market maker model, which means it acts as the counterparty to its clients' trades. This business model allows for predictable trading costs, as market makers typically offer fixed spreads. The broker's commitment to client satisfaction and transparency has helped it establish a foothold in the competitive online trading environment.

  

2. Regulatory and Compliance Information

  Hankotrade is registered with the Financial Services Authority (FSA) of Seychelles, but it is important to note that this regulatory body does not impose stringent oversight on forex trading activities. The registration number for Hankotrade is 153. However, the lack of robust regulatory frameworks raises concerns about the safety and security of client funds.

  The broker's operations are not covered by any investor compensation schemes, which means that clients may not have recourse in the event of financial disputes or insolvency. Hankotrade implements basic Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to ensure compliance with international standards, but the absence of rigorous regulatory oversight is a significant drawback.

  Client funds are reportedly kept in segregated accounts, which is a standard practice to protect investors' capital. However, the effectiveness of this policy is questionable given the broker's unregulated status. Traders are advised to exercise caution when dealing with Hankotrade, as the lack of regulatory protection can expose them to higher risks.

  

3. Trading Products and Services

  Hankotrade offers a wide array of trading products, including:

  • Forex Currency Pairs: The broker provides access to over 62 major and minor currency pairs, allowing traders to engage in the dynamic forex market.
  • CFDs: Hankotrade facilitates trading in various Contracts for Difference (CFDs), covering categories such as indices, commodities, and cryptocurrencies.
  • Precious Metals: Traders can also invest in precious metals like gold and silver, enhancing their portfolio diversification.
  • Energy Products: The broker includes trading options for energy commodities such as WTI crude oil and UK oil.
  • Cryptocurrencies: Hankotrade allows trading in several major cryptocurrencies, including Bitcoin and Ethereum.

  The broker frequently updates its product offerings to keep pace with market trends, ensuring that traders have access to the latest instruments. Hankotrade provides both retail trading services and institutional client services, catering to a diverse range of trading strategies and preferences.

  

4. Trading Platforms and Technology

  Hankotrade supports the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are popular among traders for their advanced charting tools and automated trading capabilities. The broker also offers its proprietary trading platform known as Hank Ox, designed for a user-friendly experience.

  

Key Features of Trading Platforms:

  • MetaTrader 4 (MT4): Known for its comprehensive suite of trading tools, MT4 is ideal for both beginners and experienced traders. It features advanced charting capabilities, technical indicators, and automated trading strategies (Expert Advisors).
  • MetaTrader 5 (MT5): Building on the success of MT4, MT5 offers additional features such as market depth, an integrated news feed, and multi-threaded strategy execution.
  • Hank Ox: This browser-based platform provides essential features like basic charting tools and various order types, allowing traders to execute trades efficiently without the need for downloads.

  Hankotrade utilizes an ECN (Electronic Communication Network) execution model, which ensures that trades are routed directly to liquidity providers. This model typically results in tighter spreads and faster execution times, enhancing the overall trading experience.

  

5. Account Types and Trading Conditions

  Hankotrade offers several account types to cater to different trading needs:

  • STP Account: Requires a minimum deposit of $10, offers zero commissions, and features spreads starting from 0.7 pips.
  • ECN Account: Requires a minimum deposit of $100, charges a commission of $2 per side per $100k traded, and offers spreads starting from 0.0 pips.
  • ECN Plus Account: Requires a minimum deposit of $1,000, charges a lower commission of $1 per side per $100k traded, and also features spreads starting from 0.0 pips.
  • Islamic Account: Available across all account types, this account option is designed for traders following Sharia law, ensuring no rollover interest on overnight positions.

  Hankotrade provides leverage of up to 1:500, allowing traders to amplify their positions. The minimum trade size is set at 0.01 lots, catering to both conservative and aggressive trading strategies. Additionally, the broker does not impose inactivity fees, which is advantageous for traders who may not trade frequently.

  

6. Fund Management

  Hankotrade supports several deposit methods, primarily focusing on cryptocurrency transactions. Accepted cryptocurrencies include Bitcoin, Ethereum, Litecoin, and others. Here are some key details regarding fund management:

  • Minimum Deposit Requirements: The minimum deposit varies by account type, starting at $10 for the STP account and $100 for the ECN account.
  • Deposit Processing Time: Typically, deposits are processed swiftly, often within a few hours, given the nature of cryptocurrency transactions.
  • Withdrawal Methods: Withdrawals can only be made via cryptocurrencies, which may limit options for some traders.
  • Withdrawal Processing Time: Hankotrade aims to process withdrawal requests within 4 to 8 hours, ensuring timely access to funds.
  • Withdrawal Fees: The broker does not charge fees for deposits or withdrawals, although some payment methods may incur fees from the processing company.

  

7. Customer Support and Educational Resources

  Hankotrade offers customer support through various channels, ensuring that traders can receive assistance when needed. Available support options include:

  • Live Chat: Provides immediate assistance for urgent inquiries.
  • Email Support: For non-urgent matters, traders can reach out via email.
  • Phone Support: Direct communication for those who prefer speaking with a representative.
  • Contact Form: Allows traders to submit detailed inquiries or requests.

  The support team operates 24/7, offering assistance across different time zones. While the response times are generally acceptable, some users have reported inconsistent quality in support.

  In terms of educational resources, Hankotrade offers limited materials. Basic tutorials and guides are available, but the lack of comprehensive educational content may pose challenges for beginner traders seeking to develop their skills.

  

8. Regional Coverage and Restrictions

  Hankotrade provides services to a global audience, with a particular focus on the following regions:

  • Primary Service Markets: The broker caters to clients worldwide, enabling access to various financial markets.
  • Regional Offices: While the main office is located in Dubai, UAE, Hankotrade operates with a global outreach strategy.
  • Countries with Restrictions: Hankotrade does not accept clients from the United States, UK, and certain other jurisdictions where regulatory restrictions apply.

  It is essential for traders to be aware of the legal implications of trading with an offshore broker like Hankotrade, especially in regions where regulatory oversight is stringent.

  In conclusion, while Hankotrade offers attractive trading conditions and a diverse range of products, potential clients should carefully consider the risks associated with trading through an unregulated broker. It is advisable to conduct thorough research and consider alternatives that provide stronger regulatory protections and more comprehensive support.

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Latest Reviews

ChristopheS

ChristopheS

France

The customer service at HankoTrade is accommodating and polite. They've met all my requirements, and I'm quite pleased with the service. Overall, everything is good.

Positive

2023-12-17

Gilbert Heb

Gilbert Heb

Germany

I traded with HankoTrade a while back and I'm still impressed. Their trading platform is the generic MT5/MT4 which okay ,but the edge they have is that orders are executed rapidly, and their customer service is top-notch.

Positive

2023-11-06

Andree770

Andree770

Germany

An area where HankoTrade really stands out is the MT5 Trading Platform, which offers a range of additional order types. I've found the Buy Stop-Limit and Sell Stop-Limit orders to be particularly useful in managing my trades.

Positive

2023-10-15

Hankotrade

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Hankotrade Forex Broker has an overall rating of 1.54, Regulatory Index 0.00, License Index 0.00, Business Index 7.19, Software Index 4.00 Risk Control Index 0.00.
Hankotrade