Hankotrade Review

Richard Montana | May 19, 2022

Hankotrade is an online trading broker that provides you with a very diverse range of trading instruments and services. You can trade forex, cryptos, stocks and commodities on user-friendly trading platforms with tight spreads from just 0.0 pips, commission free accounts, rapid trade execution speeds and high leverage up to 1:500. The brokers minimum deposit required is just $10 whilst they also offer free demo accounts and cryptocurrency funding options. They also support Muslim traders with the Islamic swap-free account option. This is all backed by an excellent customer support team who are available to assist you around the clock.

Pros / Cons
  • Good selection of trading instruments
  • Easy to use MetaTrader 4/5 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

Summary

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 you with the powerful MetaTrader 4 trading platforms for online trading of multiple financial instruments across different asset classes, including Forex, Indices, Commodities, and Cryptocurrencies. I found them to have very competitive trading conditions along with multiple trading account options for you 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. If you are looking for a non-nonsense broker that gives you market access with minimal fuss, they are certainly worth consideration. I have an account with them and have never had any issues.

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AvaTrade is an award-winning broker offering 1250+ instruments including Forex, Cryptos, Stocks & CFDs. They provide user-friendly trading platforms with very low fees, tight spreads & reliable trade execution speeds.

71% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Hankotrade is registered in the Seychelles, although there is currently no regulatory information on the broker’s website at the moment. Whilst lack of regulation may deter some traders, it does mean that Hankotrade are able to provide certain trading conditions, products and services, that a regulated broker may not be allowed to due to strict rules and regulations. The broker does state that its services are not directed at any jurisdiction, where the use of such services would be contrary to local law or regulation.

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 web terminal is handy as you can login on any device and it is always up to date. The MT4 mobile trading app is useful for those of you who wish to access your account and trade whilst on the go. I use the desktop platform to run my automated systems and the mobile app to check my trades as and when I feel like it.

MetaTrader 4 Features

Some of the core features of the Hankotrade MT4 platform include the following:

  • Multiple chart types & timeframes
  • User-friendly interface
  • Fully customisable
  • Real time price quotes in market watch window
  • Pending Order Types: 4
  • Technical Indicators: 30
  • Graphical Objects: 31
  • Timeframes: 9
  • Single thread strategy Tester
  • Hedging allowed
  • Scalping, news trading and expert advisors allowed
  • Available on web, desktop & mobile apps

MetaTrader 5

MetaTrader 5 is the follow up to the MT4 platform with a few more bells and whistles. The Hankotrade MT5 multi-asset platform allows trading forex, stocks, commodities, indices and cryptos. It offers superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots) and copy trading. Rich trading functionality, technical and fundamental market analysis, copy trading and automated trading are all exciting features that you can access for free right now. Just like the MT4 platform, MT5 is also available for desktop, web and mobile.

Hankotrade MetaTrader 5 Platform

Hankotrade MetaTrader 5 Platform

I think if you just want to trade forex with a few basic technical indicators and don’t have any complex trading strategies, MT4 should be more than sufficient. However, if you are interested in trading stocks and want as many indicators as possible, you might want to consider MT5 instead. Regardless, I think both platforms are excellent for trading online. I have been using MT4 for many years and never felt the need to upgrade as it can do everything that I need it to and more.

MetaTrader 5 Features

Some of the core features of the Hankotrade MT5 platform include the following:

  • Multiple chart types & timeframes
  • User-friendly interface
  • Fully customisable
  • Pending Order Types: 6
  • Depth of Market Pricing
  • Technical Indicators: 38
  • Graphical Objects: 44
  • Timeframes: 21
  • Economic Calendar
  • Embedded MQL5.community
  • Single thread strategy Tester
  • Multi-currency & Multi-threaded strategy tester with real tick data
  • Hedging allowed
  • Scalping, news trading and expert advisors allowed
  • Available on web, desktop & mobile apps

Tools

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

Forex Calculator

Hankotrade provides you 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.

I have my own VPS that I use to simultaneously run multiple instances of the MT4 platform. This is because I like to experiment with different trading strategies and to see how brokers compare in terms of performance. It is great that the broker gives you this option and something that would make me consider them over competitors.

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. It would be great if they add some trading guides and tutorial videos in the future to help educate beginners. That being said, there are plenty of places online where you will find as much educational materials as you need. You can also open a free demo account to practice trading online. I actually think this is the best way to learn more about the markets and gain first-hand experience without any risk.

Markets

Hankotrade have a generous range of financial instruments across different asset classes, including CFDs on Forex, Indices, Commodities, and Cryptocurrencies, for trading online via the provided trading platforms. Whatever your interests are, there is something for everyone to trade.

CFD Trading

Hankotrade are a CFD broker. A CFD is a contract between a broker and a trader who agree to exchange the difference in value of an underlying security between the beginning and the end of the contract, often less than one day but can be more depending on your trading strategy. The difference in price between the opening and closing of a CFD position, is the trader’s profit or less excluding any brokerage fees.

One of the major benefits of CFD trading is that you can speculate on the asset’s price movements in either direction. You simply buy or sell a contract depending on whether you believe the asset’s price will go up or down. You open a long or a short trade accordingly.

A contract for difference (CFD) account enables you to trade on the price difference of various underlying assets using leverage. Leverage means you put up only a fraction of the amount needed to trade. This is called deposit margin. You will also need to have enough in your account to cover any potential losses if trades go against you. This is called maintenance margin.

Whilst leverage can increase profit potential, it can also significantly increase risk. It is therefore important to make sure you have a clear understanding of leveraged trading and how it works before you start trading with leverage using Hankotrade or any other brokerage firm for that matter.

Accounts

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.

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 I had. The live chat was especially very helpful and pointed me in the right direction where I was able to get my query answered in a prompt manner.

Funding

Hankotrade accepts and processes payments in various cryptocurrencies. The equivalent, thereof, is exchanged into your account currency (USD, CAD, EUR). One of the great things about cryptocurrencies are the anonymity that they provide. If this is something that matter to you, it could be a reason to consider this broker over those who do not provide crypto funding.

They accept a wide range of cryptocurrencies including:

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

Hankotrade Cryptocurrency Deposit & Withdrawals

Signup

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. it took me just a few minutes to complete the whole process. I got an email pretty much straight away with my login details and was able to access my account without any hiccups.

Hankotrade Sign Up Form

Hankotrade Sign Up Form

Conclusion

Hankotrade is an ECN broker that is based in Seychelles and offers you a good range of financial instruments for trading online via the easy to use MetaTrader platforms for desktop, web and mobile devices. This includes Forex, Cryptos, Indices & Commodities. The broker provides you with various account options, commission free trading, tight spreads, rapid execution speeds, cryptocurrency funding, around the clock support and a range of useful trading tools. I have used them for a while now and have yet to run into any issues. Deposit and withdrawals have been completed in a timely manner without any long drawn out processes. I personally wouldn’t have any problem using them for my day trading activities.

Hankotrade Logo

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.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.