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 MetaTrader 4 (MT4) trading platform. The broker offers different account options to suit traders’ individual objectives.
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
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 multiple execution modes — market orders and pending orders. The platform has a wide selection of trading tools to enhance the client’s trading experience. It 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.
Hankotrade gives traders access to some standalone trading tools to ensure a seamless trading experience. They come as an addition to those already built into the MetaTrader 4 trading platform, and they include VPS, Forex Calculator, and more.
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.
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.
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).
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.
There is no regulatory information on the broker’s website at the moment, which can be a deterrent to most potential traders and investors as they do not offer the level of financial security that a regulated broker can.
Hankotrade Review Summary
Hankotrade is an ECN broker that is based in Seychelles and offers multiple financial instruments for trading online via the MT4 platform whilst providing some helpful trading tools. The broker operates the ECN/STP model with no dealing desk intervention. 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.
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.