Hankotrade Broker Review – Should You Trust This Forex Broker?

hankotrade

Hankotrade is a global online Forex, CFD, and cryptocurrency trading broker that offers traders access to various financial instruments, including currency pairs, commodities, indices, and cryptocurrencies.

Founded in 2018, the broker has quickly gained a reputation for offering competitive trading conditions, a user-friendly platform, and excellent customer support. In this hankotrade review, we will examine the various features and services hankotrade offers.

How Many Account Types Does Hankotrade Offer?

Hankotrade offers 3 trading accounts, STP, ECN, and ECN Plus. The details of each account type are enlisted below:

  1. STP Account
    STP is the basic account type offered by the broker which can be opened with a small deposit of $10. The spreads on this zero-commission account start from 0.7 pips. 
  2. ECN Account
    ECN AccountAn ECN account can be opened with a minimum amount of $100. The spreads on this account are as low as 0.0 pips. Hankotrade charges a commission of $2 per side per $100K traded on this account. 
  3. ECN Plus
    ECN Plus account is a zero-spread account, requiring a deposit of $1,000, with a commission of $1 per side per $100K traded. Hankotrade is one of the lowest-commission Forex brokers in the market, and its ECN Plus account is solid evidence. 

Can Muslim Traders Trade with Hankotrade?

Islamic Account

Hankotrade embraces diversity and endeavors to accommodate every type of trader, irrespective of their cultural or religious values. The swap-free Islamic account of Hankotrade allows Muslim traders to access the trading world without worrying about overnight interest charges. 

What Is the Maximum Leverage Offered by Hankotrade?

Hankotrade offers leverage of 1:500 on all its trading accounts. With a leverage ratio of 1:500, Hankotrade enables traders to trade up to $500 worth of an asset for every $1 in their account, which allows them to open larger positions in the market with a smaller amount of capital, potentially leading to higher profits. 

However, it is important to understand that leverage magnifies profits and losses since traders borrow funds from the broker to trade with. Thus, educate yourself about the right use of leverage to stay safe in the volatile trading world.

Is Hankotrade Regulated in The United States? 

Hankotrade is a safe and reliable broker registered with Seychelles’ Financial Services Authority (FSA). The FSA is an independent regulatory body that oversees and regulates the financial services sector in Seychelles, and Hankotrade fully complies with all its rules and regulations.

Even though Hankotrade is not regulated in the United States, it is a reputable broker that operates under the strict supervision of the FSA of Seychelles. Traders can rest assured that their funds are safe and their trading activities are conducted securely and transparently.

Is It Safe to Trade with Hankotrade?

As a registered member of the FSA of Seychelles, Hankotrade is required to meet strict regulatory standards and maintain high levels of transparency and accountability. This means that the broker is subject to regular audits and inspections to ensure that it operates fairly and ethically and meets all the necessary financial and operational requirements.

Furthermore, Hankotrade has implemented strong security measures to protect its clients’ funds and personal information. The broker uses advanced encryption technology to safeguard it from cybercrimes or unwanted intrusion on its trading platform. Furthermore, the broker employs strict anti-money laundering (AML) and know-your-customer (KYC) procedures to prevent fraudulent activities.

How Does Hankotrade Accept Deposits?

Hankotrade DepositCurrently, Hankotrade offers the option of depositing funds using cryptocurrency, which provides traders with a convenient and secure way of funding their accounts.

Does Hankotrade Offer Any Trading Tools?

Hankotrade Brokers offers an array of trading tools to enhance your trading experience. These tools include the following:

  1. Forex Calculator
    FX CalculatorThe Forex calculator is useful for traders to estimate their potential returns. Hankotrade provides 4 types of Forex calculators for calculating: Pip, Margin, Swap, and converting currencies.
  2. Virtual Private Server
    A VPN ensures that traders can access the platform safely and securely from anywhere in the world. Hankotrade’s VPN keeps the trader connected in the market without requiring them to stay connected to their devices.
  3. Economic Calendar
    The economic calendar provides timely information on key economic events, helping traders make informed decisions when trading the markets.

What Are the Pros and Cons of Trading with Hankotrade?

Pros of Hankotrade 

  1. Low Commissions
    Hankotrade offers low commissions on trades, which can help traders maximize their profits.
  2. Tight Spreads
    The platform also offers tight spreads, which refers to the difference between an asset’s buying and selling price, making it more cost-effective for traders.
  3. Fast Customer Service
    Hankotrade’s fast and efficient customer service ensures traders can quickly resolve any issues or queries.
  4. Low Deposit Requirements
    The platform has low deposit requirements, allowing traders to start trading with minimal capital of $10. 
  5. Deposit Bonus
    Hankotrade Broker offers a 100% deposit bonus to new clients who open a trading account with the broker. The bonus is subject to certain terms and conditions, and traders are advised to read the bonus policy carefully before claiming the bonus.
  6. Introducing Forex Broker Program
    introducing brokersHankotrade has also initiated a referral program called ‘Introducing Forex Broker,’ which allows traders to earn a commission on referring the company to new clients. Upon joining this program, the traders will be provided with a unique referral link, which they use to invite their friends and family.

When a new trader signs up with Hankotrade via a referral link, the trader will earn a commission. For more details, visit https://hankotrade.com/ib.

Cons of Hankotrade

  1. No Educational Material
    Unlike other brokers, Hankotrade doesn’t provide educational material like eBooks, webinars, market insights, etc., on its platform. This can be a disadvantage for traders eager to learn more about trading and improve their skills.
  2. One Channel of Payment
    Hankotrade only accepts payments through bank transfer, which can be inconvenient for some traders who prefer to use other payment methods, such as credit cards or e-wallets. This limitation can cause frustration and even lead to losing potential customers.
  3. Join the Trading Community with Hankotrade

Hankotrade is a reliable and reputable broker that offers a range of trading instruments and services to meet the needs of traders of all levels. With its commitment to transparency, security, and compliance with regulatory standards, Hankotrade has built a strong reputation as a trustworthy broker in the financial industry. 

Whether you are an experienced trader or just starting, Hankotrade is a fantastic choice for anyone looking for a safe and reliable trading platform. 

Hence, if you’re looking for a trustworthy broker, we highly encourage you to open your account with Hankotrade today and experience the amazing benefits of trading with a reputable broker.

Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.

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