If you’re searching for an honest and detailed Hankotrade review, you’ve come to the right place. In this article, we’ll cover everything you need to know about Hankotrade, including its features, pros and cons, fees, and whether it’s the right broker for your trading needs.
What is Hankotrade?
Hankotrade is an online forex and CFD broker that offers trading services to retail and professional traders. The platform provides access to a wide range of financial instruments, including forex pairs, commodities, indices, and cryptocurrencies.
Founded with the goal of offering low-cost trading with fast execution, Hankotrade has gained popularity among traders looking for competitive spreads and reliable trading conditions.
Key Features of Hankotrade
1. Multiple Account Types
Hankotrade offers different account types to suit various trading styles:
- Standard Account: Ideal for beginners, with no commission and spreads starting from 1.2 pips.
- ECN Account: Best for advanced traders, offering raw spreads from 0.0 pips with a small commission.
- Islamic Account: A swap-free account for traders who follow Sharia law.
2. Low Trading Costs
One of Hankotrade’s biggest advantages is its low-cost trading environment. The ECN account, in particular, offers tight spreads and fast execution, making it attractive for scalpers and day traders.
3. Leverage Up to 1:500
Hankotrade provides high leverage options, allowing traders to maximize their positions. However, high leverage also increases risk, so it’s important to use it wisely.
4. Fast Execution & No Requotes
The broker uses advanced technology to ensure fast order execution with minimal slippage. Traders also benefit from no requotes, which is crucial for high-frequency trading strategies.
5. MetaTrader 4 & MetaTrader 5 Support
Hankotrade supports both MT4 and MT5, the most popular trading platforms in the forex industry. These platforms offer advanced charting tools, automated trading (Expert Advisors), and a user-friendly interface.
6. Deposit & Withdrawal Options
The broker supports multiple payment methods, including:
- Bank transfers
- Credit/debit cards
- Cryptocurrencies (Bitcoin, USDT, etc.)
- E-wallets like Skrill and Neteller
Withdrawals are processed quickly, usually within 24 hours, which is a big plus for traders who need fast access to their funds.
7. Customer Support
Hankotrade offers 24/5 customer support via live chat, email, and phone. Their support team is known for being responsive and helpful, which is essential for resolving trading issues quickly.
Pros and Cons of Hankotrade
Pros:
✅ Low spreads (from 0.0 pips on ECN accounts)
✅ Fast execution with no requotes
✅ High leverage (up to 1:500)
✅ Multiple account types for different traders
✅ Supports MT4 & MT5
✅ Quick withdrawals
Cons:
❌ Limited educational resources (not ideal for complete beginners)
❌ No regulatory oversight (which may concern some traders)
❌ Inactivity fee (charged after 90 days of no trading)
Is Hankotrade Safe and Legit?
One of the most common questions traders ask is: Is Hankotrade a scam?
While Hankotrade is not regulated by major financial authorities like the FCA or ASIC, it operates under the laws of Saint Vincent and the Grenadines. Many offshore brokers follow this model, but it does mean traders should exercise caution.
That said, Hankotrade has built a solid reputation among traders for its transparent pricing, fast execution, and reliable customer service. User reviews are generally positive, with many traders praising its low-cost trading environment.
Hankotrade Fees & Commissions
- Spreads: From 0.0 pips (ECN) or 1.2 pips (Standard)
- Commissions: $3 per lot (for ECN accounts)
- Swap fees: Applied for holding positions overnight (except Islamic accounts)
- Inactivity fee: $5 per month after 90 days of no trading
Who Should Use Hankotrade?
Hankotrade is best suited for:
- Day traders & scalpers (due to low spreads and fast execution)
- Experienced traders (who understand risk management)
- Cryptocurrency traders (offers crypto CFDs with high leverage)
However, complete beginners might find the lack of educational resources a drawback.
Final Verdict: Is Hankotrade Worth It?
After reviewing Hankotrade’s features, fees, and user feedback, we can conclude that it is a solid choice for traders looking for low-cost, high-leverage trading. The fast execution and tight spreads make it ideal for active traders.
However, the lack of regulation may be a concern for those who prioritize safety over cost savings. If you’re comfortable trading with an offshore broker and want competitive trading conditions, Hankotrade is worth considering.
Open a Hankotrade Account Today
If you’re ready to start trading, you can sign up for a Hankotrade account on their official website. They offer a demo account for beginners to practice before trading with real money.
Frequently Asked Questions (FAQs)
1. Is Hankotrade regulated?
No, Hankotrade is not regulated by major financial authorities but operates under Saint Vincent and the Grenadines jurisdiction.
2. What is the minimum deposit for Hankotrade?
The minimum deposit is $10, making it accessible for small traders.
3. Does Hankotrade offer a demo account?
Yes, Hankotrade provides a free demo account for practice.
4. Can I trade cryptocurrencies on Hankotrade?
Yes, Hankotrade offers crypto CFDs, including Bitcoin, Ethereum, and more.
5. How fast are Hankotrade withdrawals?
Withdrawals are usually processed within 24 hours.
Conclusion
This Hankotrade review covers all the essential aspects of the broker, from its features to its pros and cons. While it may not be regulated, its low costs and fast execution make it a popular choice among traders.
If you’re looking for a reliable, low-cost forex and CFD broker, Hankotrade is definitely worth trying. Sign up today and see if it fits your trading style!
Disclaimer: Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Always conduct your own research before choosing a broker.
