HANKOTRADE 2025 Review: Everything You Need to Know
Hankotrade has emerged as a notable player in the online trading space, offering a variety of trading options across forex, CFDs, and cryptocurrencies. However, the broker's unregulated status raises significant concerns among potential users. This review consolidates various expert opinions and user experiences to provide a comprehensive overview of Hankotrade.
Note: The broker operates under different entities in various regions, which can lead to discrepancies in user experiences and regulatory compliance. This review aims to present a balanced perspective based on available data.
Ratings Overview
We evaluate brokers based on a combination of user feedback, expert analysis, and factual data.
Broker Overview
Founded in 2018, Hankotrade operates from Saint Vincent and the Grenadines, presenting itself as an online broker for forex and CFDs, including cryptocurrencies. The broker offers trading through the ActTrader platform, alongside the popular MetaTrader 4 and MetaTrader 5. Hankotrade provides access to a variety of asset classes, including over 70 currency pairs, several commodities, and a limited selection of cryptocurrencies. However, it is crucial to note that Hankotrade is not regulated by any major financial authority, which poses risks to traders.
Detailed Analysis
Regulatory Status
Hankotrade operates as an unregulated broker, which is a significant concern for potential traders. The lack of oversight from reputable regulatory bodies such as the FCA in the UK or the CFTC in the U.S. means that traders have little recourse in the event of disputes or issues with fund withdrawals. According to multiple sources, including Investing in the Web, the broker has been flagged as illegal in the U.S. by the CFTC, which adds to the caution surrounding its operations.
Deposit and Withdrawal Methods
Hankotrade exclusively accepts cryptocurrency for both deposits and withdrawals, which may be convenient for some traders but limits options for others. The minimum deposit varies by account type: $10 for the STP account, $100 for the ECN account, and $1,000 for the ECN Plus account. Withdrawals are generally processed within 24 hours, but many users have reported delays and complications, leading to frustrations regarding the reliability of the withdrawal process.
Hankotrade offers a 100% deposit bonus for new clients, which can significantly enhance trading capital. However, this bonus is subject to specific trading volume requirements before it can be withdrawn. As noted by Traders Union, the bonus structure can be appealing but may also lead to complications for traders who do not fully understand the terms.
Available Asset Classes
Hankotrade provides access to a variety of asset classes, including:
- Forex: Over 70 currency pairs.
- Cryptocurrencies: Limited to a few options.
- Commodities and Indices: A small selection, which may not satisfy all traders' needs.
This limited offering in commodities and indices compared to other brokers could be a drawback for traders looking for a more diverse trading portfolio.
Cost Structure
Hankotrade's trading costs are relatively low, with spreads starting from 0.0 pips on the ECN accounts, and commissions starting at $2 per $100,000 traded. However, the lack of transparency in how these costs are structured can be concerning. Many users have reported hidden fees and unexpected costs, which raises questions about the overall trading experience.
Leverage
Hankotrade offers leverage up to 1:500, which can be attractive for experienced traders looking to maximize their trading potential. However, high leverage also increases the risk of significant losses, especially for less experienced traders.
Hankotrade primarily uses the ActTrader platform, which is designed for user-friendliness. However, it does not offer the same level of features as MetaTrader 4 or 5, which are preferred by many traders for their advanced capabilities. The absence of a mobile app further limits accessibility, as noted by FX Leaders.
Restricted Regions
Hankotrade has noted that it does not provide services to residents in specific countries, including the U.S., U.K., and several others. However, it still accepts clients from these regions, which raises regulatory concerns and potential legal issues for traders.
Customer Service
Customer support is available 24/7 through various channels, including live chat, email, and phone. While some users have reported positive experiences with support, others have noted delays and inadequate responses, leading to a mixed reputation for customer service.
Repeated Ratings Overview
Detailed Breakdown
- Account Conditions: Hankotrade offers a variety of account types with low minimum deposits, but the lack of regulatory oversight raises concerns about safety and reliability.
- Tools and Resources: Limited educational resources and trading tools may hinder less experienced traders from making informed decisions.
- Customer Service: Mixed reviews on customer support highlight the need for improvement in response times and issue resolution.
- Trading Setup (Experience): Users generally appreciate the low spreads and commissions, but concerns about withdrawal processes and platform reliability persist.
- Trustworthiness: The unregulated status and mixed user reviews significantly impact the trustworthiness of Hankotrade.
- User Experience: Overall user experiences are varied, with some praising the platform's ease of use, while others report issues with withdrawals and customer service.
In conclusion, while Hankotrade may offer attractive trading conditions and low fees, the lack of regulation and mixed user experiences raise significant red flags. Potential traders should exercise caution and consider alternative brokers with better regulatory oversight and user support.
