This Hankotrade 2023 review presents an in-depth analysis of Hankotrade and its services to decide if it’s the best Forex broker for you in 2023.
Hankotrade is a Forex, CFD, and Cryptocurrency broker registered in Seychelles. It was established in 2018 by a commendable group of traders. The main objective of Hankotrade is to provide a unique trading environment to retail and institutional clients.
Table of Contents
Offering of Investment
Hankotrade offers the following trading instruments to its clients:
- Fx Market
Hankotrade offers 62 major and minor currency pairs.
- Commodities Market
It also offers trade in precious metals and other energy products, including UK Oil and WTI Crude.
- CFD Indices
Hankotrade also gives access to 11 major international stocks.
- Cryptocurrency
Hankotrade also provides a few major cryptocurrencies to trade in, including Bitcoin and Ethereum.
Commission and Fees
The following is the breakup of commission and fees charged by Hankotrade on its trading accounts:
- Spread
The spread on the STP trading account starts from 0.7 pips. The spreads are as low as 0.0 pips in ECN and ECN Plus accounts.
- Commission
Hankotrade charges $0 on the STP account. It charges $2 per side per $100k traded on the ECN account and $1 per side per $100k traded on its ECN Plus account.
- Deposit and Withdrawal Fee
Hankotrade follows a zero-withdrawal fees policy. It never charges its clients to process their withdrawal requests. Moreover, it takes one business day to transfer the funds per the trader’s request.
Trading Account Types
- STP Account
STP is the first account that Hankotrade offers. The main feature of this account is that it is commission free. Traders can open this account with a minimum deposit of $10. The spreads on this account begin from 0.7 pips. The leverage available on this account is 1:500
- ECN Account
According to Hankotrade’s website, their traders widely select this account. The spreads on this account are 0 with only $2 commission per side per $100k trade. Traders can also enjoy the leverage of 1:500. The minimum requirement to open this account is $100.
- ECN Plus Account
ECN Plus account includes all the features of an ECN account. The commission on this account is just $1 per side per $100k traded.
- Islamic Account
Hankotrade also offers all the 3 accounts without swap and commission, making it possible for Muslim traders to trade.
Trading Platforms
Hankotrade offers 2 major trading platforms, MetaTrader 4 and MetaTrader 5, to its clients. MT4 is one of the safest, most reliable, and most popular choices of trading platforms amongst traders. Besides that, the traders can also select MT5, which includes advanced features and executes trades instantly without lagging.
Traders can use web, desktop, and mobile applications of these trading platforms and keep themselves connected with the trading market on every device.
How to Open an Account with Hankotrade?
The account opening procedure with Hankotrade is quick and hassle-free. You can visit the broker’s website and navigate to the Register option on their homepage. You will be asked to fill out a registration form upon clicking it.
After filling up the form and agreeing to the terms and conditions, you will be directed to deposit funds in your account. Hankotrade only accepts deposits in cryptocurrency. After making the deposit, your account will be active, and you can start trading the same day.
Bonus and Rewards
Hankotrade offers 2 programs to its clients through which they can earn commissions and bonuses on their trading accounts.
- 100% Bonus
Hankotrade’s 100% bonus offer allows traders to enhance their account margin. Traders can avail of this promotional offer by depositing a minimum of $100 into their trading accounts. Hankotrade will credit the same amount as the trader’s deposit into their trading accounts as an additional margin.
This offer allows the clients to increase their trading funds and leverage their accounts. Hence, overall making the trading experience more enjoyable for traders.
- Introducing Broker
Introducing Broker is a referral program by Hankotrade that compensates traders for referring the broker to their friends and social circle.
By signing up for this program, traders can earn bonus profit when a person they referred to initiates a trade and earns profits. Hankotrade offers a high referral commission rate compared to the other brokers in the market. It offers 40% of the total commission charged to the referral clients.
Customer Care
Potential and existing clients can reach out to Hankotrade through the following modes:
- Contact Form
In case of any questions, site visitors can navigate to the Contact Us section and fill out the form. They can state their issues, provide their contact details, and send the form. A customer care representative of Hankotrade will look into the problem and revert.
- Live Chat
Another instant way to connect with the customer care agent is through live chat. This option saves time and provides instant solutions and answers to individuals.
- Email and Call
The broker can also be contacted via telephone, email, and Skype. All the details and their address are mentioned on their Contact Us page.
Hankotrade Client Reviews
Since its inception in 2018, Hankotrade has served many traders from all over the world. It has a good rating on numerous review forums, including Trustpilot, Forex Peace Army, The Forex Geek, MyFxBook, etc.
Take a look at these hankotrade broker reviews from some of the credible platforms:
Reviews on FX-List.com
Reviews on Trustpilot.com
Hankotrade has a 4.8-star rating on Trustpilot with hundreds of reviews from various traders.
Hankotrade Review: Final Thoughts
Hankotrade has been offering its services in the market since 2018. Though it is not highly experienced as other brokers in the market, it is still a good choice for new traders who want to access the Forex trading world.
The minimum deposit requirement to open an account with Hankotrade is nominal and affordable. Its spreads and commissions are also reasonable and industry competitive.
After taking a deeper look at its features, and customer testimonials, we can say that Hankotrade is a good choice for traders. The broker offers various trading instruments, bonuses, and commissions to make the trading experience more exciting.
You can visit Hankotrade’s website to learn more about its terms and conditions and policies. Hankotrade is also on Instagram, sharing snippets of important market information for its traders. You can check it out and get an idea of what its followers say about it.
