Hankotrade
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Pros and Cons
- Extremely low spreads
- Wide range of trading assets
- Multiple account types
- Advanced trading platforms
- Good customer support
- Limited regulation
- Withdrawal process can be slow
- High leverage can be risky
- Inactivity fee
- No ZuluTrade integration
Introduction
Hankotrade is a relatively new player in the world of online trading, but it has quickly gained popularity due to its competitive trading conditions and advanced trading platforms.
This comprehensive review will cover all of its aspects, from its trading conditions and account types to its trading platforms and customer support.
By the end of this review, you will fully understand whether Hankotrade is the right broker for your trading needs.
Open a free accountCompany Overview
Background and History
Established in 2018, Hankotrade’s mission is to provide retail and institutional clients around the world with an exceptional trading environment.
The company’s team members have trading experience that spans back to the 1980s, successfully navigating all major financial markets from Asia to North America.
By offering advanced trading tools and a client-centric approach, the firm aims to empower users to reach their full potential.
Regulation
The company is regulated by the Vanuatu Financial Services Commission (VFSC).
While VFSC regulation provides some level of security, it is not as stringent as regulations from top-tier regulators like the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC).
This regulatory environment can be considered a double-edged sword: while it allows for more flexible trading conditions and higher leverage, it also offers less protection compared to more stringent regulatory bodies.
Prospective clients should weigh these factors when considering Hankotrade as their broker.
Trading Conditions
Hankotrade offers highly competitive trading conditions that cater to both novice and experienced users.
Below, we will break down the key aspects of their trading conditions:
Leverage
It also provides a maximum leverage of 1:500.
High leverage can amplify profits, but it also increases the risk of substantial losses.
It is essential for users to use leverage responsibly and understand the risks involved.
For those unfamiliar with leverage, it allows investors to control a large position with a relatively small amount of capital.
For example, with 1:500 leverage, a deposit of $1,000 can control a position worth $500,000.
This magnification of both potential gains and losses makes it a powerful tool that should be used judiciously.
Minimum Deposit
The minimum deposit required to open an account is $10.
This low entry requirement makes it accessible for users with different budget sizes.
Such an approachable entry point is particularly beneficial for novice investors who wish to gain experience without committing significant capital.
It also allows more experienced investors to test their services and trading conditions without a substantial financial commitment.
Spreads and Commissions
Hankotrade offers extremely low spreads, with the average cost for EUR/USD being 0.2 pips.
The broker operates on a commission-based model, with commissions varying depending on the account type.
For the ECN account, the commission is $2 per side per $100k traded, and for the ECN Plus account, it is $1 per side per $100k traded.
These low costs can significantly enhance the profitability of trading strategies, particularly for high-frequency traders or those who trade large volumes.
Account Type | Minimum Deposit | Spreads From | Max Leverage | Commission | Base Currencies |
STP | $10 | 0.7 pips | 1:500 | Zero Commissions | USD, EUR, CAD |
ECN | $100 | 0.0 pips | 1:500 | $2 per side per $100k | USD, EUR, CAD |
ECN Plus | $1,000 | 0.0 pips | 1:500 | $1 per side per $100k | USD, EUR, CAD |
Trading Assets
Hankotrade offers a wide range of trading assets, including:
- Forex: A vast array of currency pairs, from majors like EUR/USD to minors and exotics.
- Indices: Trade on major global indices, providing exposure to broader market movements.
- Commodities: Including precious metals like gold and silver, as well as energy commodities such as oil.
- Cryptocurrencies: Popular digital currencies like Bitcoin, Ethereum, and more.
This diverse asset selection allows investors to diversify their portfolios and explore various trading opportunities.
By providing access to multiple asset classes, it enables clients to implement a wide range of trading strategies, from forex scalping to long-term investing in commodities and indices.
Account Types
Hankotrade offers three main account types, each designed to cater to different trading needs and experience levels.
Below is an overview of the account types:
STP Account
The STP (Straight Through Processing) account is ideal for those who want to trade in a commission-free environment with access to global markets.
Key features include:
- Minimum Deposit: $10
- Spreads From: 0.7 pips
- Max Leverage: 1:500
- Commission: Zero Commissions
- Available Base Currencies: USD, EUR, CAD
- Negative Balance Protection: Yes
- Swap-free Islamic account option: Available
This account type is particularly suitable for beginners or those who prefer simpler trading conditions without the complexity of additional fees.
ECN Account
The ECN (Electronic Communication Network) account is suitable for clients looking for tight spreads and competitive commissions.
Key features include:
- Minimum Deposit: $100
- Spreads From: 0.0 pips
- Max Leverage: 1:500
- Commission: $2 per side per $100k traded
- Available Base Currencies: USD, EUR, CAD
- Negative Balance Protection: Yes
- Swap-free Islamic account option: Available
This account type is designed for more experienced users who require better trading conditions and are willing to pay a small commission for tighter spreads.
ECN Plus Account
The ECN Plus account is designed for professional investors who require the best trading conditions with ultra-low commissions.
Key features include:
- Minimum Deposit: $1,000
- Spreads From: 0.0 pips
- Max Leverage: 1:500
- Commission: $1 per side per $100k traded
- Available Base Currencies: USD, EUR, CAD
- Negative Balance Protection: Yes
- Swap-free Islamic account option: Available
This account type offers the most favorable conditions for high-volume traders and professionals looking for the lowest possible costs.
Get up to 100% deposit bonusTrading Platforms
Hankotrade provides its clients with access to a proprietary trading platform known as Hanko Act Trader.
This platform is renowned for its advanced features, user-friendly interface, and robust functionality.
Below are the key features of Hanko Act Trader:
Hanko Act Trader
- User-Friendly Interface: The platform offers an intuitive and customizable interface, making it easy for traders to navigate and execute trades.
- Advanced Charting Tools: Hanko Act Trader provides a comprehensive suite of charting tools, enabling detailed technical analysis.
- Real-Time Market Data: Clients have access to real-time market data and price feeds, ensuring they are always informed about market movements.
- Automated Trading: The platform supports automated trading strategies through Expert Advisors (EA) and trading robots.
- Mobile Trading: It is available as a mobile app, allowing users to manage their accounts and execute trades on the go.
Web Trader
In addition to Hanko Act Trader, Hankotrade offers a web-based trading platform that can be accessed from any web browser.
This platform provides similar functionality to Hanko Act Trader, making it a convenient option for those who prefer web-based trading.
Features include:
- No Downloads Required: Access the platform directly from your web browser without the need to download or install any software.
- Cross-Device Compatibility: Trade seamlessly across multiple devices, ensuring that you can manage your trades whether you are at home or on the move.
- Comprehensive Toolset: Similar to the desktop version, the web platform offers advanced charting tools, real-time data, and the ability to execute trades efficiently.
Customer Support
The company prides itself on offering excellent support to its clients.
Their support team is available 24/5 and can be reached through various channels:
- Email: support@hankotrade.com
- Phone: +1 784-123-4567
- Live Chat: Available on their website
- Support Tickets: Clients can submit support tickets through the client portal for detailed inquiries.
The customer support team is knowledgeable and responsive, ensuring that users receive timely assistance with their queries and issues.
Effective client support is crucial for maintaining client satisfaction, especially when dealing with complex financial products and potential technical difficulties.
Payment Methods
Hankotrade offers many payment methods to facilitate easy deposits and withdrawals.
Accepted payment methods include:
- Credit Card: Visa, MasterCard
- Bank Transfer: Wire transfers
- E-Wallets: Skrill, Neteller
- Cryptocurrencies: Bitcoin
This broker does not charge any deposit or withdrawal fees, making it cost-effective for clients to manage their accounts.
However, everybody should be aware that their payment provider may charge fees for processing transactions.
The availability of multiple payment options ensures that clients from different regions can find a convenient method to fund their accounts.
Trading Tools
Hankotrade provides a range of trading tools to enhance the trading experience and help users make informed decisions.
Key trading tools include:
Economic Calendar
The economic calendar provides a schedule of important economic events and announcements that can impact financial markets.
Users can use this tool to stay informed about upcoming events and plan their trades accordingly.
Key features of the economic calendar include:
- Event Details: Information about the nature of the event, including previous and expected outcomes.
- Impact Indicator: An indicator showing the expected impact of the event on the market.
- Filters: Options to filter events based on currency, impact, and date.
Forex Calculator
The Forex calculator helps clients calculate key trading metrics, such as pip value, margin requirements, and potential profits or losses.
This tool is essential for risk management and trade planning.
Types of calculations include:
- Pip Calculator: Determines the value per pip in the account’s base currency.
- Margin Calculator: Calculates the margin required to open a position.
- Profit Calculator: Estimates potential profit or loss based on the entry and exit prices.
- Swap Calculator: Calculates the overnight swap fees for holding positions.
VPS (Virtual Private Server)
Hankotrade offers VPS hosting services for clients who require a stable and secure environment for their automated trading strategies.
A VPS ensures that trading platforms and Expert Advisors run smoothly without interruptions.
Benefits of using a VPS include:
- 24/7 Operation: Ensures that trading platforms remain operational around the clock, crucial for automated trading.
- Low Latency: Reduces the time delay between order execution and market response.
- Enhanced Security: Provides a secure environment for trading activities, protecting against potential cyber threats.
- Accessibility: Allows clients to access their trading platforms from anywhere, regardless of their local device’s performance.
Educational Resources
This company is committed to empowering users through education.
The broker provides a range of educational resources to help clients improve their skills and knowledge.
These resources include:
Trading Guides
Hankotrade offers comprehensive trading guides that cover various topics, such as technical analysis, fundamental analysis, and risk management.
These guides are suitable for users of all experience levels.
Key topics covered in the guides include:
- Introduction to Forex Trading: Basics of the forex market and how to start trading.
- Technical Analysis: Understanding chart patterns, indicators, and trend analysis.
- Fundamental Analysis: Evaluating economic indicators, news events, and their impact on the market.
- Risk Management: Strategies to manage risk, including position sizing and stop-loss orders.
Webinars
They regularly host webinars conducted by experienced traders and market analysts.
These webinars provide valuable insights into market trends, trading strategies, and platform tutorials.
Benefits of attending webinars include:
- Interactive Learning: Participants can ask questions and interact with the presenter.
- Current Market Analysis: Up-to-date analysis of market conditions and potential trading opportunities.
- Practical Tips: Practical advice and strategies that can be implemented in real trading.
Market Analysis
Hankotrade provides daily market analysis and updates, helping users stay informed about market movements and potential trading opportunities.
The analysis covers major currency pairs, commodities, indices, and cryptocurrencies.
Features of the market analysis include:
- Technical Analysis: Detailed technical analysis of key trading instruments, including chart patterns and indicators.
- Fundamental Analysis: Insights into economic events and their potential impact on the market.
- Trading Signals: Recommendations for potential trades based on the analysis.
Security and Privacy
Hankotrade takes the security and privacy of its clients seriously and implements robust security measures to protect client data and funds.
Key security features include:
- SSL Encryption: They use SSL encryption to secure all data transmitted. This encryption ensures that sensitive information, such as login credentials and financial transactions, is protected from unauthorized access.
- Segregated Accounts: Client funds are held in segregated accounts, separate from its operational funds, ensuring that client funds are protected. In the unlikely event of insolvency, segregated accounts help safeguard client money.
- Two-Factor Authentication (2FA): The company offers 2FA to enhance account security and prevent unauthorized access. This additional layer of security requires users to provide a second form of identification, such as a code sent to their mobile device, before accessing their account.
Fees and Commissions
Understanding the fee structure is crucial for any investor, as it directly impacts the overall cost of trading.
Its fee structure is designed to be transparent and competitive, minimizing costs for users.
Deposit and Withdrawal Fees
Hankotrade does not charge any fees for deposits or withdrawals, making it cost-effective for clients to fund their accounts and access their money.
However, it is essential to note that while it does not impose these fees, payment providers such as banks or e-wallet services may charge their fees for processing transactions.
Investors should check with their payment provider to understand any applicable charges.
Inactivity Fee
Unlike many brokers, Hankotrade does not charge an inactivity fee.
This policy is advantageous for investors who may not trade regularly, as it ensures that their account balance remains unaffected by periods of inactivity.
Trading Commissions
As outlined earlier, their trading commissions vary by account type.
The STP account offers commission-free trading, making it ideal for those who prefer straightforward cost structures.
The ECN and ECN Plus accounts, while charging commissions, offer extremely low spreads, which can result in lower overall trading costs, particularly for high-frequency traders.
Market Coverage
Forex Trading
Forex trading is one of the primary services offered, with a vast selection of currency pairs available.
These include major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
The broker’s low spreads and high leverage make it an attractive option for forex traders seeking cost-effective and flexible trading conditions.
Commodity Trading
Hankotrade provides access to commodity markets, allowing clients to trade in precious metals like gold and silver, as well as energy commodities such as oil and natural gas.
Trading commodities can be an excellent way to diversify a portfolio and hedge against inflation or currency fluctuations.
Indices Trading
Investors can trade major global indices, gaining exposure to broader market movements.
Some popular indices available for trading include the S&P 500, NASDAQ, FTSE 100, and DAX 30.
Trading indices allows users to speculate on the performance of entire market sectors rather than individual stocks.
Cryptocurrency Trading
With the rise of digital currencies, it also offers trading in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
Cryptocurrency trading provides opportunities for high returns due to the volatile nature of these assets, but it also comes with significant risks.
Its platform supports advanced trading tools and real-time data, helping clients navigate the cryptocurrency markets effectively.
Execution and Technology
Hankotrade’s technology infrastructure is designed to provide fast and reliable trade execution.
Key aspects of their execution and technology include:
Execution Speed
Hankotrade boasts high-speed trade execution, which is crucial for taking advantage of market opportunities, especially in fast-moving markets.
Fast execution minimizes slippage and ensures that orders are filled at the desired price.
Latency
The broker’s servers are strategically located to reduce latency and provide a seamless trading experience.
Low latency is particularly important for high-frequency traders and those using automated trading systems.
Platform Stability
Hanko Act Trader and the web-based platform are built to handle high volumes of trades without compromising on stability.
The platforms undergo regular maintenance and updates to ensure optimal performance and security.
Awards and Recognition
While Hankotrade is a relatively new entrant in the online trading industry, it has received positive feedback and recognition for its services.
Industry awards and recognition can serve as an indicator of a broker’s reliability and the quality of its offerings.
Although specific awards are not detailed in this review, potential clients can check their website or industry publications for any recent accolades.
Community and Social Engagement
Hankotrade actively engages with its community through various social media platforms.
These engagements help the broker stay connected with its clients, provide timely updates, and gather feedback to improve its services.
It is present on platforms such as:
- YouTube
By following them on these platforms, clients can stay updated on market news, educational content, and promotional offers.
Promotions and Bonuses
Hankotrade offers various promotions and bonuses to attract new clients and reward existing ones.
These promotions can provide additional value and enhance the trading experience.
Common types of promotions include:
Deposit Bonuses
The company often runs deposit bonus promotions, where clients receive a bonus amount based on their deposit.
For example, a 100% deposit bonus means that if a client deposits $500, they will receive an additional $500 as a bonus.
These bonuses can provide extra trading capital, but it is essential to understand the terms and conditions, as there may be specific requirements for withdrawing the bonus funds.
Trading Contests
The broker occasionally organizes trading contests where clients can compete against each other for prizes.
These contests can be a fun way to test trading skills and potentially win rewards such as cash prizes or trading credits.
Referral Programs
Hankotrade offers referral programs that reward clients for bringing new clients to the platform.
By referring friends or colleagues, clients can earn bonuses or commissions based on the trading activity of the referred users.
Account Opening Process
Opening an account is straightforward and can be completed in a few simple steps.
Here’s a detailed overview of the account opening process:
Step 1: Registration
Clients need to visit the official website and click on the “Register” button.
They will be prompted to fill out a registration form with basic information such as name, email address, and phone number.
Step 2: Verification
After completing the registration form, clients will need to verify their email address by clicking on the verification link sent to their inbox.
This step is crucial for account security and ensures that the email address provided is valid.
Step 3: KYC (Know Your Customer) Process
To comply with regulatory requirements, the company requires clients to complete the KYC process.
This involves submitting identification documents such as a passport or driver’s license, as well as proof of address, such as a utility bill or bank statement.
The KYC process helps prevent fraud and ensures that the broker maintains a secure trading environment.
Step 4: Funding the Account
Once the account is verified, clients can fund their accounts using one of the available payment methods.
This broker supports various payment options, including credit cards, bank transfers, e-wallets, and cryptocurrencies.
Step 5: Start Trading
After funding the account, clients can log in to the trading platform, customize their settings, and start trading.
It offers a demo account for those who wish to practice and familiarize themselves with the platform before trading with real money.
Conclusion
Hankotrade has established itself as a competitive broker in the online trading industry, offering attractive trading conditions, a wide range of trading assets, and a robust proprietary trading platform.
The low minimum deposit requirement and diverse account types make it accessible to people with different experience levels and budgets.
However, the limited regulation may be a concern for some clients, and it is essential to weigh the benefits and risks before deciding to trade.
Overall, Hankotrade provides a solid trading environment with excellent customer support and advanced trading tools, making it a viable option for those seeking a reliable and user-friendly broker.
Key Takeaways
- Competitive Trading Conditions: Extremely low spreads and high leverage.
- Diverse Account Types: STP, ECN, and ECN Plus accounts to cater to different trading needs.
- Advanced Trading Platform: Proprietary Hanko Act Trader with advanced features and a user-friendly interface.
- Excellent Support: 24/5 support through email, phone, and live chat.
- Educational Resources: Comprehensive trading guides, webinars, and market analysis to support users’ education.
If you are considering Hankotrade as your broker, ensure you fully understand the risks involved and take advantage of their demo account to get a feel for their platform and trading conditions before committing real funds.
The comprehensive range of features and competitive trading environment make it a compelling choice for both new and experienced investors looking for a robust and reliable trading partner.
Visit official website: www.hankotrade.com
User Reviews
Frequently Asked Questions (FAQ)
Is Hankotrade a regulated broker?
The company is regulated by the Vanuatu Financial Services Commission (VFSC). While this offers some level of security, it's important to note that it is not as stringent as regulations from top-tier regulators like the FCA or ASIC.
What is the minimum deposit required to open an account?
The minimum deposit required to open an account is $10, making it accessible for traders with different budget sizes.
What trading platforms does it offer?
Hankotrade offers its proprietary platform, Hanko Act Trader, which is known for its advanced features and user-friendly interface.
Does Hankotrade offer a demo account?
Yes, the broker provides a demo account for traders to practice and familiarize themselves with the platform before trading with real money.
What are the available payment methods?
Hankotrade accepts various payment methods including Credit Card, Bank Transfer, Skrill, Neteller, and Bitcoin.
Are there any fees associated with deposits and withdrawals?
This broker does not charge any deposit or withdrawal fees, making it cost-effective for traders.
Can I use trading robots or EAs?
Yes, it supports the use of Expert Advisors (EAs) and trading robots on their platforms, allowing for automated trading strategies.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Last update:September 10, 2025
