Hankotrade Review 2020
Hankotrade is an online trading broker that offers a diverse range of trading instruments and services to its global clientele. The broker offers spreads as low as 0.0 pips, leverage capped at 1:500, and has a required minimum deposit of $10. However, the broker is unregulated which could be a red flag for potential clients.
Hankotrade Review 2020, Pros & Cons
- MetaTrader 4 trading platforms
- Multiple trading instruments
- A range of trading tools
- Not regulated
- Offshore broker
- No US & UK clients
- No telephone support line
- Limited educational materials
- Limited account funding methods
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 is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Hankotrade.
Hankotrade Review: Summary
Hankotrade is a No Dealing Desk (NDD) broker that passes its clients’ orders directly to the liquidity providers, thus ensuring a swift execution of trades without any conflict of interest. The broker provides clients with the sophisticated MetaTrader 4 trading platform for online trading of multiple financial instruments across different asset classes, including forex, indices, commodities, and cryptocurrencies. There are multiple trading account options for clients to choose from.
Hankotrade Review: Regulation
There is no regulatory information on the broker’s website at the moment. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our best trading brokers for alternative regulated brokers.
Hankotrade Review: 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. The broker does not accept clients from the US and UK.
Some Hankotrade features and product mentioned within this Hankotrade review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Hankotrade Review: Trading Platforms
Considered as one of the most reliable, efficient, and best trading platforms amongst traders across the globe, MT4 is a popular choice for Forex trading, owing to its multiple execution modes — market orders and pending orders. It boasts of some of the widest selection of trading applications in the world.
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 mobile trading app is useful for those who wish to access their account and trade whilst on the go.
Hankotrade Review: Trading Tools
The broker provides traders with some standalone trading tools in addition to those built into the MetaTrader 4 trading platform. They include VPS, Forex Calculator, and more.
Hankotrade Review: 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 clients have.
Hankotrade Review: Trading Instruments
Hankotrade offers a range of financial instruments across different asset classes, including forex, indices, commodities, and cryptocurrencies, for trading online via the provided trading platforms.
Hankotrade Review: Trading Accounts & Fees
Hankotrade offers 3 major account types. These are STP Account ($10), ECN Account ($100), and ECN Plus Account ($1,000). There is also the Islamic Account that complies with sharia law, and demo accounts, which are provided for practice purposes.
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 Review: Customer Service
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. There is no telephone number provided to call the broker directly.
Hankotrade Review: Deposit & Withdrawal
Hankotrade accepts and processes payments only in some cryptocurrencies. The equivalent, thereof, is exchanged into your account currency (USD, CAD, EUR). The accepted cryptocurrencies include:
- Bitcoin Cash
Hankotrade Review: Account Opening
Opening an account requires potential traders to click on the ’Register’ button, fill out the form accurately, and submit.
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 Review: Conclusion
Hankotrade is an ECN broker that is based in Seychelles and offers multiple financial instruments for trading online via the MT4 platform while providing clients with a range of useful trading tools. However, they are not regulated which would be a red flag for many potential clients. They also have limited account funding options and educational materials whilst there is no telephone number provided and UK/US traders are not accepted.
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.