Hankotrade Review

Hankotrade is a retail trading broker that operates the ECN/STP execution model, passing clients’ orders directly to the liquidity providers without a dealing desk intervention. They offer multiple financial instruments across different asset classes, including forex, indices, commodities, and cryptocurrencies, for trading online through the user-friendly MetaTrader trading platforms for web, desktop and mobile. The platforms are powerful and packed with all of the tools you need for conducting in-depth market analysis, placing and managing your trades.

Hankotrade offers different account options to suit traders’ individual objectives. You can choose a suitable account depending on your deposit size and whether you prefer tight spreads or lower commissions. When compared to its direct competitors, the broker has tight spreads starting from just 0.0 pips and leverage up to 1:500. Anyone can open an account today and trade with one of the lowest commissions in the industry. It only takes a few minutes to get up and running. They even offer demo accounts if you want to practice trading online risk free with virtual funds before committing.

Hankotrade Review Introduction

In this Hankotrade review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Hankotrade.

Hankotrade Platforms & Tools

MetaTrader 4 Platform

Hankotrade clients can trade multiple financial instruments using the MetaTrader 4 trading platform. MT4 is regarded as one of the most reliable trading platforms amongst traders across the globe. It has a popular choice when it comes to forex and CFD trading. What’s more, the platform is easy to use and completely free of charge.

MT4 has multiple execution modes including market orders and pending orders. The platform has a wide selection of trading tools to enhance the client’s trading experience. You can use common technical indicators to try and identify in which direction the market is moving. You can choose between multiple chart types and timeframes from the 1 minute to 1 month. This makes the Hankotrade platform suitable for all types of traders, from scalpers to those who want to hold positions for the long term.

MT4 has a ton of other important features, with way too many to mention here. However, some of the key MT4 features include the following:

  • Various chart types
  • Different chart time frames
  • Support multiple order types
  • User-friendly interface
  • Quick learning curve
  • Suitable for beginner and professional traders alike
  • Technical indicators for market analysis
  • Price alert notifications via SMS, email and platform pop-ups
  • Automated trading with expert advisors (EAs)
  • Strategy tester to back test EAs on historical data
  • MQL programming interface to create custom indicators, scripts and EAs
  • Large online community of traders
  • Share ideas, tools and trading signals with others
  • Marketplace to add extra tools to the platform
  • Available free on desktop, web and as a mobile trading app

The MetaTrader 4 platform is available as a desktop application for Windows and Mac computers and a web trading terminal that requires no downloads or installations to run on modern web browsers, including Chrome, Safari, Firefox, and Edge. There is also a mobile app that is compatible with iOS and Android devices and can be downloaded from the respective app stores. The mobile trading can be used by those who wish to access their account and trade on the go. All you need is an internet connection and the app installed on your phone. That way, you can trade from anywhere in the world when it is convenient for you.

Hankotrade MT4 Platform
Hankotrade MT4 Platform

MetaTrader 5 Platform

The MetaTrader 5 or MT5 platform for short, is the follow up to the still popular MT4 platform. Whilst MT5 does have more features, functionalities and capabilities, MT4 is still more widely used and provided by more brokers. That may change over the years as more and more forex and CFD traders make the switch to the more powerful MT5 platform.

MT5 is very similar to MT4 in the way that it looks and feels, with the main differences being that it offers more charts, timeframes and technical tools. There is also an economic calendar built-in whereas MT5 supports more order types. It also has depth of market (DOM) pricing and a multicurrency strategy tester to back test expert advisors over multiple instruments at the same time. This is something that MT4 cannot do.

The MetaTrader 5 interface is quite simple to use and provides all necessary trading tools and information to start trading the markets. There are different menus, toolbars, as well as service windows within a single highly customizable and convenient user interface that will simplify your trading.

Day traders love to use the multi-asset platform MetaTrader 5, as it’s “the fastest, efficient and cost-effective trading platforms in the world” allowing them to trade in the best trading conditions. The MT5 platform is also free to download and available for web, desktop and mobile.

The MetaTrader 5 platform is a versatile trading software and has a number of exceptional, innovative and user-friendly features that ensure your improved trading performance.

  • 21 different chart time frames: You can trade on 11 different types of minute charts and 7 different types of hourly time frames on top of daily/weekly and monthly time frames for enhanced market analysis.
  • Additional pending orders: Along with Buy stop/limit and Sell stop/limit, also place additional orders such as Buy Stop-Limit and Sell Stop-Limit
  • Enhanced technical analysis: Increase your market analysis capabilities using 38 different technical indicators, 44 analytical objects and depth of market pricing.
  • Bitcoin account: In addition to USD, EUR and CAD, MT5 allows you to trade on Bitcoin denominated accounts.
Hankotrade MT5 Platform
Hankotrade MT5 Platform

Trading Tools

In addition to the industry standard MetaTrader 4 platform, Hankotrade gives traders access to some standalone trading tools to help ensure they can get a seamless online trading experience without any hiccups. These trading tools come as an addition to the vast amount that are already built into the MetaTrader 4 trading platform, and they include a VPS, Forex Calculator, and more.

FX Calculators

A smooth and convenient forex trading experience is possible with the Hankotrade forex calculator which works out any financing charges or credits on legacy accounts. The broker 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.

Hankotrade Forex Trading Calculators
Hankotrade Forex Trading Calculators

VPS (Virtual Private Server)

With Virtual Private Server (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. This makes the VPS very popular for traders who are running automated trading systems as they can run your trading platform 24/7 around clock.

Due to fewer delays and more efficient and increased trade execution, a VPS can help to 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 worry.

In order to take advantage of the Hankotrade free VPS, you will need to meet a minimum amount of trading volume each month. If you fail to do so, the free VPS offer may be removed and you may be able to pay a small fee for the VPS instead.

Hankotrade VPS
Hankotrade VPS

Hankotrade Financial Instruments

You can trade CFDs on a variety of asset classes with Hankotrade, including Forex, Stocks, Commodities and Cryptocurrencies. Whatever your interests, there is something for everyone to trade.

In finance, a contract for difference is a contract between two parties, typically described as “buyer” and “seller”, stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time.

This means that you can speculate on rising and falling prices with Hankotrade without needing to physically own the underlying asset. The difference between the price of the asset from when you enter and exit the CFD is your profit or loss, minus any broker fees.

Hankotrade Research & Education

Traders can find an FAQ section on the broker’s website; it offers instant answers to some common questions that traders have. To be honest, research and education is an area in which Hankotrade is distinctly lacking. I would usually expect a broker to have plenty of educational resources to help teach traders how to trade online safely and also to help inspire trade ideas with up to date market analysis. Hopefully they will take note and perhaps consider adding a trading academy in the near future. I believe this would significantly improve the overall service and show that the broker encourages making informed trading decisions.

Hankotrade Trading Accounts

The broker offers 3 major account types, namely: STP Account ($10), ECN Account ($100), and ECN Plus Account ($1,000). The accounts are denominated in USD, EUR, and CAD, and they have spreads starting from 0 pips and leverage of up to 1:500. There is also the Islamic Account that complies with sharia law. Demo accounts are provided for practice purposes.

STP Account

Get Access to global markets and commission-free. By opening an STP account with Hankotrade, you will be allowed unlimited access to global markets and trade a wide range of currency pairs, stock indices and many more along fast execution speed and low spreads.

  • Minimum Deposit $10
  • Available Base currencies: USD, EUR, CAD
  • Spreads From 0.7 pips
  • Max Leverage 1:500
  • Lots 0.01
  • Commission: ZERO
  • Execution: NDD
  • Execution Type: Market
  • Server: GMT+2
  • EA’s allowed
  • Hedging allowed
  • Scalping allowed

ECN Account

Hankotrade clients can use a maximum account leverage of 500x and take advantage of the ECN accounts low spreads, starting from as low as 0.0 pips. What’s more, with Hankotrade’s ECN account, you can place stop and limit orders close to market orders. The ECN account is one of the most widely used one and is ideal for clients with a small starting deposit.

  • Minimum Deposit $100
  • Available Base currencies: USD, EUR, CAD
  • Spreads From 0.0 pips
  • Max Leverage 1:500
  • Lots 0.01
  • Commission: $4 per $100K (round-trip)
  • Execution: NDD
  • Execution Type: Market
  • Server: GMT+2
  • EA’s allowed
  • Hedging allowed
  • Scalping allowed
  • Margin call/ Stop-out Level: 70% / 50%

ECN Plus Account

Hankotrade’s ECN Plus account goes beyond both the STP account as well as the ECN account. Trading with Hankotrade through the ECN plus account ensures the best possible trading experience. It has lightning fast execution speed, low spreads starting from 0.0 pips, no desk dealing (NDD), and ultra-low commissions, all of which make the ECN Plus account an ideal choice for the brokers clients. With all of the accounts including ECN Plus account, you have the option of going for a swap-free Islamic account, making it perfect for our Muslim traders as well.

  • Minimum Deposit $1,000
  • Available Base currencies: USD, EUR, CAD
  • Spreads From 0.0 pips
  • Max Leverage 1:500
  • Lots 0.01
  • Commission: $2 per $100K (round-trip)
  • Execution: NDD
  • Execution Type: Market
  • Server: GMT+2
  • EA’s allowed
  • Hedging allowed
  • Scalping allowed
  • Margin call/ Stop-out Level: 70% / 50%

Islamic Accounts

Hankotrade aims to serve and facilitate all its clients, from diverse cultures and religions. For this reason, Hankotrade have introduced the 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 their forex trading experience without worry.

All the features of an Islamic account are similar to the other accounts except for swap commissions. Please note that an admin charge will be debited from clients trading account when a trade is held for 2 days. Get in touch with Hankotrade now to open a new Islamic account or to change any of your regular accounts into swap-free ones.

Hankotrade Account Funding

Deposits and withdrawals at Hankotrade are made using cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. The equivalent, thereof, is exchanged into your account currency (USD, CAD, EUR). You will need to pay a blockchain fee as with most crypto transactions.

Whilst it is great that the broker offers a modern form of digital payment, I think it would be great if they could also add some e-wallet payment options as some users may not be familiar with how cryptos work. That being said, the Hankotrade support team can help guide you through the process if required.

Furthermore, the broker does not currently offer bank wire transfers or credit/debit card payments. Again, along with the educational resources, the deposit and withdrawal methods are an area which could do with some improvement.

Hankotrade Customer Service

The broker’s customer support team is available to give prompt and polite responses to clients’ inquiries, and they can be reached via email, Live Chat, and social media, or by paying a visit to their office in Seychelles. Unfortunately, there is no contact telephone number but I found the live chat to be very responsive and helpful. This is important as you will want to be able to talk with someone right away should you have an urgent question to ask.

Hankotrade Regulation

There is no regulatory information on the broker’s website at the moment, which can be a deterrent to some potential traders and investors as they do not offer the level of financial security that a regulated broker can. However, some traders will understand that this means that Hankotrade is able to offer certain conditions that a regulated broker would not be allowed to whilst under strict regulation. Just make sure you have a clear understanding of all the risks involved trading online with any brokerage firm.

Hankotrade FAQ

What is the Hankotrade minimum deposit?

The minimum deposit required by Hankotrade is $10.

Where is Hankotrade based?

Hankotrade is based in the Seychelles.

When was Hankotrade founded?

Hankotrade was founded in 2019.

What are the Hankotrade platforms?

Hankotrade provide the MetaTrader 4 and MetaTrader 5 platforms for web, desktop and mobile.

What trading instruments do Hankotrade have?

With Hankotrade, you can trade Forex, Indices, Commodities, Cryptocurrency, CFDs.

What are the Hankotrade deposit and withdrawal options?

Hankotrade accept deposits and withdrawals in Cryptocurrency.

What is the Hankotrade leverage?

The maximum leverage at Hankotrade is 1:500.

What is the Hankotrade commission fee?

Commission varies from zero to $4 per round trip, depending on the Hankotrade account type you choose.

What are the Hankotrade spreads?

Hankotrade have variable spreads starting from 0.0 pips.

Do Hankotrade offer demo accounts?

Yes, there is a free Hankotrade demo account if you would like to trial the brokers services before opening a real account.

Do Hankotrade offer Islamic accounts?

Yes, you can open a Muslim friendly swap-free Islamic account with the broker.

Do Hankotrade allow scalping, hedging and automated trading?

Yes, Hankotrade do not have any restrictions on trading strategies.

Do Hankotrade charge an inactivity fee?

No, there are no inactivity fees charged.

Is Hankotrade regulated?

Not at the moment.

Hankotrade Review Summary

Hankotrade is an ECN broker that is based in Seychelles and offers multiple financial instruments for trading online via the popular and intuitive MetaTrader 4/5 platforms. You can trade Forex along with CFD Indices, Commodities and Cryptocurrencies with Hankotrade. Trading conditions are very competitive with zero commission accounts available and spreads from 0.0 pips. There are different account types to meet the needs of different trades.

Hankotrade operates the ECN/STP model with no dealing desk intervention. This means that there should be no conflict between the broker and trader. The broker also provides some helpful trading tools including a trading calculator and virtual private server. They are one of few brokers that support crypto deposits and withdrawals. The customer support team is prompt and available conveniently via live chat on the brokers website.

However, Hankotrade are not currently regulated, which would be a red flag for some potential clients. They also have limited account funding options and educational materials.

It is worth mentioning that some of the trading products and services in this Hankotrade review may differ or not be available to traders in some countries due to regulations. As the broker’s terms can change over time, please verify all information is up to date directly from the Hankotrade broker website which you can visit by using the link below.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Hankotrade

8.2

Spreads

9.0/10

Liquidity

9.0/10

Commissions

9.0/10

Support

9.0/10

Regulation

5.0/10

Features

  • Multiple trading instruments including Forex, Stocks, Commodities & Cryptos
  • Powerful yet easy to use MetaTrader 4 and MetaTrader 5 platforms for web, desktop and mobile
  • A range of useful trading tools
  • Tight spreads from 0.0 pips
  • Zero commission fee accounts
  • Instant account opening process
  • Make deposits & withdrawals with cryptocurrency
  • ECN/STP execution on trades
  • Minimum deposit of just $10
  • Free demo trading accounts