Hankotrade Review

Hankotrade is an online trading broker that provides a diverse range of trading instruments and services to its global clientele. The broker offers user-friendly trading platforms with tight spreads from just 0.0 pips, commission free accounts, rapid trade execution speeds and leverage up to 1:500. The brokers minimum deposit required is just $10 whilst they also offer free demo accounts and cryptocurrency funding options.

Hankotrade Review, Pros & Cons
  • Good selection of trading instruments
  • Easy to use MetaTrader 4 platforms
  • Tight spreads
  • Low fees
  • Commission free trading accounts
  • ECN/STP execution
  • Various account types
  • Cryptocurrency account funding
  • A range of useful trading tools
  • Islamic (swap-Free) accounts
  • Friendly customer support team
  • Not regulated
  • Limited educational materials

In this detailed Hankotrade review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Hankotrade Overview

Hankotrade is a No Dealing Desk (NDD) broker that passes its clients’ orders directly to the liquidity providers, thus helping to ensure swift execution of trades without any conflict of interest. The broker provides clients with the powerful MetaTrader 4 trading platforms for online trading of multiple financial instruments across different asset classes, including Forex, Indices, Commodities, and Cryptocurrencies. They have very competitive trading conditions along with multiple trading account options for clients to choose from and some useful trading tools to assist with your daily trading activities.

Hankotrade Review

Hankotrade Review

Hankotrade state that their mission is to provide retail and institutional clients around the world with an exceptional trading environment and empower them to reach their full potential. Built by traders, the brokers team members have trading experience from trading on all major financial markets from Asia to North America.

Hankotrade Regulation

Hankotrade is registered in the Seychelles, although there is currently no regulatory information on the broker’s website at the moment.

Hankotrade Countries

The broker states that its services are not directed at any jurisdiction, where the use of such services would be contrary to local law or regulation.

Some Hankotrade features and product mentioned within this Hankotrade review may not be available to traders from specific countries due to legal restrictions.

Hankotrade Platforms

MetaTrader 4

Considered as one of the most reliable, efficient, and best trading platforms amongst traders across the globe, MetaTrader 4 (MT4) is a popular choice for CFD & Forex trading. This intuitive yet user-friendly platform has all of the features and functionality a trader needs, including different order types, multiple chart timeframes, technical indicators for conducting in-depth analysis and automated trading capabilities. There is a large MetaTrader community online where you can share ideas, signals, trading tools and more.

Hankotrade MetaTrader 4 Platforms

Hankotrade MetaTrader 4 Platforms

MetaTrader 4 is very straightforward to operate, and it is available as a desktop application for Windows and Mac computers, a web trading terminal, and a mobile app that is compatible with iOS and Android devices and can be downloaded from the relevant app stores. The web platform can run directly in your browser window without needing to download or install any additional software. The MT4 mobile trading app is useful for those who wish to access their account and trade whilst on the go.

Hankotrade Trading Tools

The broker provides traders with some useful standalone trading tools in addition to those built into the MetaTrader 4 trading platform. They include a VPS, Forex Calculator, and more.

Forex Calculator

Hankotrade provides its clients with the latest and updated forex calculator that functions in a range of currencies, so you do not have to convert each figure. The forex calculator works out any financing charges or credits on legacy accounts. This helps to ensure a smooth and convenient forex trading experience.

Hankotrade Forex Calculators

Hankotrade Forex Calculators

Virtual Private Server

A virtual private server (VPS) can help to deliver a smooth, seamless and efficient trading experience, especially for those of you who are running automated trading systems around the clock. With the VPS. you can rest assured that your system is running and see trade signals without having to be on your laptop or computer at all times.

Hankotrade VPS

Hankotrade VPS

When using a VPS, there can be fewer delays with a more efficient and increased trade execution as the VPS can sufficiently lower the chances of slippage occurring by increasing latency. What’s more, it also provides a reliable power supply in case of any power outage in your area so you can keep your head in the trading game at all times, without too much worry.

Hankotrade Education

The broker’s website has a limited collection of educational resources. Nevertheless, there is a FAQ section that contains instant and detailed answers to some of the most common questions that potential clients may have.

Hankotrade Instruments

Hankotrade offers a generous range of financial instruments across different asset classes, including Forex, Indices, Commodities, and Cryptocurrencies, for trading online via the provided trading platforms.

Hankotrade Accounts & Fees

Hankotrade offers 3 major account types to suit the needs of different traders. These are the STP Account, ECN Account and ECN Plus Account. There is also the swap-free Islamic Account that complies with Sharia law, and demo accounts, which are provided for practice purposes. Whatever your level of trading experience or strategy, there is an account for everyone.

Hankotrade Account Types

Hankotrade Account Types

STP Account

The Hankotrade STP account has a minimum deposit of just $10. The available account base currencies are USD, EUR & CAD. Spreads on this account type start from 0.7 pips. The maximum leverage is 1:500 and minimum lot size 0.01. There is zero commission charged on the account and it is available as a swap free option for Islamic traders.

ECN Account

The Hankotrade ECN account has a minimum deposit of $100. The available account base currencies are USD, EUR & CAD. Spreads on this account type start from just 0.0 pips. The maximum leverage is 1:500 and minimum lot size 0.01. The commission is very competitive at $2 per side per $100k position size. The account is available as a swap free option for Islamic traders.

ECN Plus Account

The Hankotrade ECN Plus account is the brokers most popular choice. It has a minimum deposit of $1,000. The available account base currencies are USD, EUR & CAD. Just as with the standard ECN account, spreads on this account type start from just 0.0 pips. The maximum leverage is also 1:500 and minimum lot size 0.01. However, the commission is even lower at just $1 per side per $100k position size. As with all the other Hankotrade accounts, the ECN Plus account is available as a swap free option for Islamic traders.

Islamic Account

Hankotrade aims to serve and facilitate all its clients, from diverse cultures and religions. For this reason, they have introduced a swap-free Islamic account option for Muslim clients who are looking for trading practices that are in accordance with the Sharia law.

The Hankotrade Islamic accounts do not have any rollover interest charged on overnight positions so Muslim traders can participate in forex trading whilst sticking with their beliefs. Please note that an admin charge will be debited from clients trading account when a trade is held for 2 days.

All the features of an Islamic account are similar to the other accounts except for swap commissions. You can get in touch with Hankotrade to open a new Islamic account or to change any of your regular accounts into swap-free ones.

Demo Accounts

Hankotrade also offer demo trading accounts which can be a great way for you to practice trading online with virtual funds. These free demo accounts enable you to familiarise yourself with the brokers platforms and services without any financial risk. Once you feel ready, you can easily switch over to a live account at any time.

As broker fees can vary and change, there may be additional fees that are not listed in this Hankotrade review. It is imperative to ensure that you check and understand all of the latest information before you open a Hankotrade broker account for online trading.

Hankotrade Support

The broker offers a client support team that can be reached via email, Live Chat, and social media, or by paying a visit to their office in Seychelles. We found the broker to be very efficient when responding to the various questions that we had.

Hankotrade Deposit & Withdrawal

Hankotrade accepts and processes payments in various cryptocurrencies. The equivalent, thereof, is exchanged into your account currency (USD, CAD, EUR).

They accept a wide range of cryptocurrencies including:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Bitcoin Cash
Hankotrade Cryptocurrency Deposit & Withdrawals

Hankotrade Cryptocurrency Deposit & Withdrawals

Hankotrade Account Opening

Opening an account is quick and easy. You just need to click on the “Register” button, fill out the short form and click the “Sign Up” button.

Hankotrade Sign Up Form

Hankotrade Sign Up Form

It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.

Hankotrade FAQ

What is the Hankotrade minimum deposit?

The minimum deposit required by Hankotrade is $10 for the STP account or $100 for the ECN account. The minimum deposit for the ECN plus account is $1000.

How do I deposit money into Hankotrade?

Hankotrade accept deposits via cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple & Bitcoin Cash. As the trading accounts are denominated in either USD, EUR or CAD, the cryptocurrency will be converted in the equivalent of your chosen account currency.

What are the Hankotrade deposit fees?

Hankotrade do not charge any deposit fees but you may need to pay a blockchain and currency conversion fee.

How do I withdraw money from Hankotrade?

You can receive payments from Hankotrade via cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple & Bitcoin Cash. Hankotrade processes all withdrawals within one working day on business days to help ensure a smooth and efficient forex trading experience for its clients.

What are the Hankotrade withdrawal fees?

Hankotrade do not charge any withdrawal fees but you may need to pay a blockchain and currency conversion fee.

What is the Hankotrade commission fee?

The Hankotrade commission fee depends on the type of trading account that you choose. The standard accounts have no commission fee, the ECN account has a $2 commission fee (per side per $100k position size) and the ECN Plus account a $1 commission fee (per side per $100k position size).

Are there any Hankotrade inactivity fees?

No, Hankotrade do not currently charge any inactivity fees.

What are the Hankotrade account types?

Hankotrade have an account to suit different types of trader. You can choose between 3 account types, the STP, ECN and ECN Plus. The main differences between each of the account types are the minimum deposit required, spreads and commission.

The Hankotrade account that you opt for is likely to depend on your investment size, trading experience along with the trading strategy that you plan to use. Scalpers may prefer the ECN account with spreads from 0.0 pips. Swing traders may want to use the commission free account if they are not too concerned about the paying the spread.

You can head over to our ‘Account Types’ section on the Hankotrade website to read about each of these account types in further detail.

Is there a Hankotrade demo account?

Yes, you can open a Hankotrade demo account free of charge. The demo account can be a great way to work on your trading skills and learn how to use the Hankotrade platform. With a demo trading account, you use virtual funds and therefore do not need to take on any risks. You can change your demo account balance at any time by contacting Hankotrade support.

To open a Hankotrade demo account, you just need to complete the short online form available on the brokers website. Once you have finished the registration process, your demo account credentials will be sent to your given email address.

What are the Hankotrade spreads?

Hankotrade spreads are very competitive, especially on the ECN and ECN Plus account, where they start from just 0.0 pips. The STP account has spreads from 0.7 pips but does not charge any commission as the brokers fees are included within the marked up spread.

What is the Hankotrade leverage?

Hankotrade provide clients with leverage up to 1:500 on all accounts. Leverage basically allows a trader to enter a larger position size. This increases both potential profit and potential loss. It is therefore important to have a clear understanding of leverage before you consider using it.

Leverage is expressed as a ratio, for example if your leverage is 1:500, this means that you can hold a position that is the 500 times the value of your trading account. E.g. If your account had a balance of $100, you could take a position size of $50,000.

What are the Hankotrade margin & stop-out levels?

The margin level determines the deposit that is required to keep open positions. To open and hold positions, a trader must have sufficient funds to secure it. Free margin determines the capital that remains on the account to open subsequent positions, and to cover the changes in the balance resulting from price movements from already opened positions.

A stop out is an automatic closure of a position at the current market rate. A stop out occurs when the margin requirement has been exceeded and the account balance is no longer sufficient to sustain all the opened positions. Hankotrade have a Margin call/ Stop-out Level: 70% / 50%

To avoid a margin call you should check your account’s balance at all times and make sure you have the required funds in your account so that you can maintain your open positions.

Do Hankotrade allow hedging, scalping & expert advisors?

Yes, Hankotrade allow all scalping, hedging and automated trading with expert advisors (EAs) in the MetaTrader platform. The broker states that they pose no restrictions or limits on its clients’ trading activities.

Is there a Hankotrade Islamic account?

Yes, Hankotrade offers swap-free accounts that function in accordance with the Shariah law to facilitate its Muslim clients.

What are the Hankotrade trading instruments?

With Hankotrade, you can trade Forex along with CFD Indices, Commodities and Cryptocurrencies.

How do I open a Hankotrade live account?

It is quick and easy to open a Hankotrade account, you just need to complete the short application form on the Hankotrade website. You will then be sent a verification email along with your login credentials.

How do I verify my Hankotrade account?

Some Hankotrade features may require you to verify your account with a proof of identification (passport, driver’s license, identity card, etc) and proof of address (bank statement or utility bill).

What is the Hankotrade trading platform?

Hankotrade provides traders with the popular and user-friendly MetaTrader 4 platforms, for desktop, web and as mobile apps. MT4 has plenty of tools and features for an enjoyable trading experience.

Where can I download the Hankotrade platform?

You can download the MetaTrader 4 platforms free of charge from the brokers website. They also have a web platform that runs directly in your web browser without the need to download or install any additional software. Additionally, you can download the MetaTrader app from the relevant app store on your iOS or Android mobile device.

Where is Hankotrade located?

Founded in 2019, Hankotrade is a trading broker that is registered in the Seychelles.

Is Hankotrade regulated?

Currently, there isn’t any information regarding Hankotrade being regulated. Despite the lack of regulation, it does mean that the broker can offer some features that a regulated broker might not be able to, such as higher leverage.

What countries do Hankotrade accept?

Hankotrade welcome clients from around the globe, although their services are not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

Is Hankotrade a scam?

No, we do not believe Hankotrade is a scam. They have competitive trading conditions and have been operating since 2019.

How can I contact Hankotrade support?

You can contact the Hankotrade customer support team via email, online chat and social media. From our experience, they were extremely quick to respond to the various questions that we asked.

Hankotrade Summary

Hankotrade is an ECN broker that is based in Seychelles and offers multiple financial instruments for trading online via the easy to use MetaTrader 4 (MT4) platforms for desktop, web and mobile devices. This includes Forex, Cryptos, Indices & Commodities.

The broker provides clients with various account options, commission free trading, tight spreads, rapid execution speeds, cryptocurrency funding and around the clock support and a range of useful trading tools.

Leveraged products such as CFDs and Forex trading are complex instruments with a high risk of losing money. The products offered are intended for professional and retail clients. Please note that client accounts could sustain losses of deposited funds or in some cases even exceeding their deposit amount. 

Min $10 Deposit

Hankotrade is a trading broker that provides a large range of trading instruments & user-friendly trading platforms. They have tight spreads, low fees, rapid execution speeds & flexible leverage.

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