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Is Hankotrade the Right Broker for You: An Honest Review

Hankotrade is a global online trading broker that offers traders access to various financial instruments, including Forex, CFDs, and cryptocurrencies. The company has quickly established a reputation for providing competitive trading conditions, a user-friendly platform, and excellent customer support since its establishment in 2018. 

The company’s headquarters are located in Dubai, UAE, at Citadel Tower, Office Number -2802, Business Bay. 

This review will thoroughly evaluate the features and services provided by Hankotrade Broker.

How Many Trading Accounts Does Hankotrade Offer?

Hankotrade Trade offers a range of account options for its users. The accounts include the following:

  • STP Account

One of the account options is the STP account, which is commission-free and provides unrestricted access to the financial market. With a minimum deposit of only $10, the STP account is ideal for traders who are just starting and want to protect their accounts from negative balances. The spread starts from 0.7 pips.

  • ECN Account

Another account type offered by Hankotrade is the ECN account, known for its zero spread, enabling traders to improve their profit margins and anticipate their projected revenues more precisely. The initial deposit for the ECN account is $100, and traders can quickly change positions as spreads on the currency exchange market change without worrying about further losses.

  • ECN Plus

Hankotrade’s ECN Plus account is loaded with ultra-premium features. It is the perfect solution for traders who need a fast, easy, and secure way to trade stocks, options, futures, and commodities. Traders can also take advantage of leverage up to 1:500, placing larger trades with their limited funds. The commission of ECN Plus is $1 per side per $100k traded, with a spread of 0.0 pip.

Click here to open an ECN Plus account today. 

  • Islamic Swap-Free Account

islamic acc

For Muslim traders and investors, Hankotrade offers a swap-free Islamic account that provides the benefits of the above account types without the need to worry about swap fees.

How Does Hankotrade Accept Deposits and Withdrawals? 

Hankotrade provides its clients with a secure and dependable payment system that utilizes several cryptocurrencies, including Bitcoin, True USD, Gemini USD, Dash, Litecoin, Ethereum, USDC, Eos, and Z Cash. 

While the company offers only one payment method, it is a convenient and modern way to handle transactions, particularly for those who prefer digital currencies. Hankotrade’s commitment to ensuring smooth and efficient payment processing for its clients is praiseworthy and reflects the company’s ability to adjust to the dynamic financial landscape.

Is Hankotrade Regulated in The United States?

Hankotrade is a well-regarded and trusted broker registered with Seychelles’ Financial Services Authority (FSA), an independent regulatory body that oversees and regulates the financial services sector in Seychelles. 

While it is not regulated in the United States, Hankotrade fully complies with all the rules and regulations set by the FSA. As a result, traders can be confident that their funds are secure and that their trading activities are conducted with transparency and security.

Deposit Bonus 

Hankotrade offers a 100% deposit bonus for new traders who sign up for their trading services. This means that when new traders deposit funds into their accounts for the first time, they will receive a bonus of 100% of their initial deposit. For example, if a new trader deposits $1000, they would receive an additional $1000 as a bonus, doubling their account balance. 

This bonus can provide traders with additional funds for trading, potentially increasing their profits and helping them achieve their financial goals. 

It’s important to note that terms and conditions apply to this bonus offer, so traders should carefully read and understand the requirements before accepting it.

Introducing Forex Broker Program 

Hankotrade’s Introducing Broker program is a referral scheme that encourages traders to refer brokers to friends and acquaintances. Those who sign up for this program can earn bonus profits whenever their referrals initiate trades and generate profits. 

Hankotrade offers a highly competitive referral commission rate of 40% of the total commission charged to the referred clients, which sets it apart from other brokers in the market. This program presents an excellent opportunity for traders to earn additional income by sharing their positive experiences with Hankotrade with others.

Trading Platforms Offered By Hankotrade

Hankotrade offers its traders the popular platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely recognized in the industry for their user-friendly interface, advanced charting tools, and automated trading capabilities. Traders can easily access a wide range of trading instruments and execute trades using either platform. 

Both MT4 and MT5 are available on desktop and mobile devices for convenient access anytime, anywhere.

Trading Tools

In the fast-paced and ever-changing world of trading, having the right tools at your disposal can make all the difference in your success. Trading tools play a crucial role in providing traders with the necessary information and insights to make informed decisions, manage risks effectively, and optimize their trading strategies. These tools enable traders to analyze market trends, identify patterns, and execute trades with precision and confidence.

Hankotrade understands the significance of trading tools and strives to empower its customers with a comprehensive suite of tools designed to enhance their trading experience. With a focus on delivering value and convenience, Hankotrade offers three essential trading tools that cater to the diverse needs of traders.

  • Economic Calendar

The first tool offered by Hankotrade is the economic calendar. This tool provides traders with a schedule of important economic events, such as interest rate announcements, GDP releases, and employment reports. By staying informed about these events, traders can anticipate potential market movements and adjust their trading strategies accordingly. The economic calendar is a valuable tool for fundamental analysis and helps traders navigate the impact of economic news on their trades.

  • Virtual Private Server (VPS): Safeguarding Your Trading Setup from Cyber Threats

In today’s digital landscape, protecting your trading system from hackers and viruses is of utmost importance. Virtual Private Server (VPS) serves as a vital tool that can fortify your trading setup’s security. By utilizing a VPS, you can ensure that your trading activities are conducted on a separate operating system and network, distinct from your personal business.

This segregation significantly minimizes the risk of privacy breaches and safeguards your sensitive trading data. With a dedicated VPS, you can trade with peace of mind, knowing that your system is fortified against potential cyber threats and unauthorized access.

  • FX Calculators: Empowering Informed Investment Decisions

Making well-informed investment decisions is crucial for traders and investors in the dynamic world of Forex. An FX calculator is an invaluable tool that aids in this process by enabling traders to calculate potential earnings and losses before executing a trade. By considering various outcomes and scenarios, traders can develop a more comprehensive trading plan and reduce the risk of financial loss.

FX calculators provide accurate calculations based on factors such as trade size, leverage, currency pair, and market conditions. Armed with this information, traders can make informed decisions, assess risk/reward ratios, and adjust their strategies accordingly. The use of FX calculators enhances the precision and efficiency of trading activities, helping traders navigate the complexities of the Forex market with confidence and clarity.

These three trading tools offered by Hankotrade are indispensable assets for traders. They provide invaluable insights, aid in decision-making, and help optimize trading performance. Whether you are a beginner or an experienced trader, leveraging these tools can significantly enhance your trading journey and increase your chances of success.

In summary, trading tools are essential for traders to navigate the dynamic and competitive world of financial markets. Hankotrade recognizes their importance and offers advanced charting software, an economic calendar, and a risk management tool to assist its customers. These tools provide traders with the necessary resources to analyze markets, track economic events, and manage risks effectively. By utilizing these tools, traders can make well-informed decisions, adapt to market conditions, and optimize their trading strategies for maximum profitability.

Customer Support 

One of the standout features of Hankotrade is its unwavering commitment to customer satisfaction, exemplified by its exceptional customer service team. Available 24/7, this dedicated team is always ready to assist traders, ensuring that their needs and concerns are addressed promptly and effectively.

Hankotrade provides multiple channels of communication for customers to reach out, including telephone calls, contact forms, emails, and live chat options conveniently accessible on its user-friendly website. Whether you have a question, need technical support, or seek guidance with your trading activities, Hankotrade’s responsive customer service team is just a click or call away, providing you with the assistance and peace of mind you deserve.

With a strong emphasis on building long-lasting relationships with its traders, Hankotrade sets the benchmark for exceptional customer service in the trading industry.

Pros of Trading with Hankotrade

  • Minimum Deposit Requirement 

Hankotrade offers a low minimum deposit requirement, making it easier for traders to start their investment journey. With a minimum deposit of just $10, traders can access the platform’s features and start trading in various markets.

  • Low Commissions and Spreads 

Hankotrade offers competitive commissions and spreads, making it an attractive option for traders looking for a cost-effective trading experience. The broker offers tight spreads starting from 0.0 pips on ECN accounts and low commissions starting from $2 per lot.

  • High Leverage Ratio

Hankotrade offers high leverage ratios of up to 1:500, allowing traders to magnify their profits while minimizing their capital outlay. This feature is handy for experienced traders who understand the risks associated with high leverage.

  • Negative Balance Protection 

Hankotrade offers negative balance protection to its clients, which means that traders cannot lose more than their account balance. This is an important feature that provides peace of mind to traders and helps them manage their risk.

  • Excellent Customer Service 

Hankotrade offers excellent customer service to its clients, assisting various channels, including live chat, email, and phone. The broker’s customer support team is available 24/5 to answer any questions or concerns traders may have, ensuring a smooth and hassle-free trading experience.

Cons of Trading with Hankotrade

  • Limited Educational Material 

One of the downsides of trading with Hankotrade is that their educational material is limited. They do not provide in-depth educational materials or courses for beginner traders. This may be a drawback for those new to the market, requiring more guidance and education before starting their trading journey.

  • Deposits Through Cryptocurrencies 

While Hankotrade accepts deposits through cryptocurrencies, this may not be convenient for all traders. Cryptocurrencies can be volatile, and their value can fluctuate rapidly, resulting in potential loss of funds for traders who deposit in this manner. 

Additionally, some traders may not be familiar with depositing through cryptocurrencies, which can be a barrier to entry for some potential users.

Hankotrade: Unveiling an Array of Advantages for Traders of All Levels

When it comes to choosing a trading platform, Hankotrade stands out by offering a myriad of advantages that cater to the needs of traders at every level of expertise. From beginners to seasoned professionals, Hankotrade provides a compelling proposition with its diverse range of benefits.

One of the standout advantages of trading with Hankotrade is its low commissions, allowing traders to keep more of their profits. Combined with tight spreads, traders can execute trades at competitive rates, maximizing their potential returns. Furthermore, Hankotrade offers high leverage ratios, empowering traders to amplify their trading positions and potentially increase their profitability. The inclusion of negative balance protection provides an additional layer of security, ensuring that traders are not liable for losses exceeding their account balance.

Moreover, Hankotrade prides itself on its excellent customer service, which is available to traders around the clock. This dedicated team can be reached via various channels, including telephone calls, contact forms, emails, and live chat options conveniently accessible on the Hankotrade website. Traders can rely on the prompt and professional support provided by the customer service team, ensuring that their needs and concerns are addressed efficiently.

However, it’s important to note that Hankotrade does have a few limitations. The availability of educational material is relatively limited, which may pose a challenge for traders seeking comprehensive learning resources. Additionally, the option to deposit funds exclusively through cryptocurrencies might not be suitable for traders who prefer other payment methods.

Despite these limitations, the advantages of trading with Hankotrade significantly outweigh the cons. The broker’s commitment to low commissions, tight spreads, high leverage ratios, negative balance protection, and exceptional customer service make it a favorable choice for traders seeking a reliable and trustworthy platform.

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Frank Morrison

Just a regular guy who stumbled into the world of forex trading and found my passion. I've spent countless hours analyzing charts, reading economic reports, and mastering the art of risk management. Some call me a gambler, but I call it calculated risk-taking. I've had my fair share of profits and losses. But hey, that's the beauty of this trading game. When I'm not trading, you can find me sipping on a cup of coffee and plotting my next move.

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