Hankotrade Broker Review

Hankotrade Broker Review (2023)

Today’s Hankotrade broker review thoroughly examines the Hankotrade platform and its services. This review will assist you in determining whether Hankotrade is the right fit for your trading needs in 2023.

Where Is Hankotrade Broker’s Headquarters Located?

Hankotrade broker is a Dubai, UAE-based registered trading broker.

What Trading Products Hankotrade Broker Offers?

It offers trading opportunities in multiple trading products like Forex, Commodities, CFD indices, and Cryptocurrencies. Hankotrade’s mission is to provide a trading ecosystem that benefits its customers. 

How Many Account Types Are Available at Hankotrade?

Hankotrade broker allows users to choose a trading account from 3 provided options that are:

  1. STP Account requires a minimum deposit of $10. 
  2. The ECN account can be opened by depositing a minimum of $100. 
  3. The ECN Plus account’s minimum deposit requirement is $1,000.

What’s The Lowest Spread On Hankotrade?

Hankotrade ensures that its users are trading with the lowest spreads. However, these spreads vary with different account types: 0.07 pips for the STP account and 0.0 pips for ECN and ECN Plus accounts 

How Much Commission Is Charged by Hankotrade?

Similar to the spreads, the commission rate on Hankotrade is also minimal, but these commissions are variable with different account types.

  • 0 commission charges for STP 
  • $2 per side per $100k traded for ECN account
  • $1 per side per $100k traded for ECN Plus account 

You can visit the broker’s website to learn more about the account types. 

Does Hankotrade Offers Affiliate Earning Opportunities?

Hankotrade provides earning opportunities through its affiliate program called ‘introducing broker’. Traders can refer Hankotrade to their social circle using a special affiliate link. If an individual signs up with Hankotrade with an affiliate link and initiates a trade, the trader will be eligible for a commission. 

Hankotrade broker rewards up to 40% commission from the total amount traded by the newly introduced trader.

What is the 100% Sign Up Program of Hankotrade?

Hankotrade provides a 100% bonus to its traders when they sign up and deposit funds into their accounts. The minimum deposit requirement for this program is $100. Hankotrade credits the same amount as a deposit into the trader’s account as an additional margin.

What Trading Platforms Are Available at Hankotrade?

Hankotrade offers two of the best trading terminals to choose from. Users can now choose between MetaTrader4 and 5 depending on their preference and trading style. Both of these trading terminals are best according to the market standards. Both trading terminals are available across platforms like windows, OSX, web trader, android, and iOS.

Is Hankotrade Famous Among Traders?

Hankotrade started its brokerage service in 2018 and has achieved significant milestones as a trading broker since then. However, with big names present in the market, Hankotrade is still quite young, and due to its services, traders are now recognizing its true potential as a trading broker.

Is Hankotrade a Trustworthy Forex Broker?

Hankotrade’s licensing with FSA, a 4.8-star rating in trustpilot.com, and plenty of positive reviews by traders vouch for the broker’s reliability. To trust the broker, you can read Hankotrade broker reviews on many credible websites.

What Payment Methods Are Supported by Hankotrade?

Currently, Hankotrade only accepts payments through cryptocurrencies. However, this limited option gives several options within cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash, True USD, Gemini, USD, USDC, EOS, Bitcoin Cash, and Z Cash. Traders can use all these cryptocurrencies to fund their trading accounts.

How Much Does Hankotrade Charge on Deposits and Withdrawals?

Hankotrade ensures they are not rigging their clients at every stage, so they don’t charge any transaction fees from their users. There are no withdrawal fees and minimum withdrawal conditions, which enable traders to withdraw any amount they want. This policy helps traders save unnecessary cost cuts during transactions.

Does Hankotrade Answer Queries on Time?

Traders applaud the customer service of the Hankotrade platform for its timely response to queries. Traders can contact them through live chat assistance, contact forms, and email or phone through their contact details on their contact page.

What Protection Measures Are Present on the Hankotrade Platform for Traders?

Suppose the trend moves against the trader’s intended move. In that case, Hankotrade ensures its users are not losing more than the total amount they have invested through the negative balance protection feature. This feature saves traders from being broke due to trading disasters.

Is Hankotrade Regulated in the American Region?

Hankotrade is a regulated trading broker fulfilling the needs of Forex, CFD indices, commodities, and cryptocurrency by the Financial Services Authority of Seychelles (FSA). However, it is not regulated in the American region. But, American traders can sign up with Hankotrade without any complex conditions or fear about the broker’s legitimacy.

How Can New Traders Acquaint Themselves with Hankotrade?

There are various learning opportunities present on the Hankotrade platform, such as the FAQs section for answers to frequently asked questions and options like a demo account. Users can first initiate their trades in these demo accounts with the same trading environment as a live trading account before starting with a real one.

Conclusion: Is Hankotrade Worth Giving a Shot?

With all the gathered information, it’s safe to say that Hankotrade is one of the favorites among their user base, because of the features, fees, and services they offer. 

Giving Hankotrade a try won’t do any harm since their account opening cost is low. With only a $10 investment, you can experience the service they offer yourself and decide if you want to stick with them for the long term.

If you are satisfied with the broker, you can increase your investment amount and make it your trading partner for the long run.

What do you think?

Written by Joshua White

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