Hankotrade – a well-established brokerage platform for traders, was introduced in 2018.
Since then, it has made a significant name in the market with its fantastic offerings to the trading world.
In this Hankotrade review, we will provide an expert walkthrough of Hankotrade broker and help you decide if it’s the perfect choice to step into the trading world as a newbie trader.
So, let’s delve into the details.
Hanko Trade Review Summary and Rating
Hankotrade is a forex broker well known for its great trading symbols and zero fees on deposits and withdrawals.
A lot of Account Choices
Zero charges on withdrawals and deposits
Free Access to vps
Limited Transaction Modes
Fewer Learning Opportunities
Slow Email Responses
Pros and Cons of Hankotrade Broker
Before joining a particular platform, traders need to know the pros and cons of the broker so they can analyze on their own if it’s the right choice. Selecting a platform only if its pros outweigh the cons is recommended.
Pros of Trading With Hankotrade
Regulated by The Financial Service Authority (FSA)
Hankotrade provides traders with a sense of security and confidence because it operates under the regulatory oversight of the Seychelles Financial Services Authority (FSA).
The FSA is a recognized regulatory organization well known for its dedication to maintaining the reliability of financial markets. Hankotrade is governed by the FSA, giving traders peace of mind that the broker abides by strict industry regulations, fostering a dependable and trustworthy trading environment.
4 Account Choices
Hankotrade understands that there cannot be one-size-fits-all solutions when it comes to trading. Every trader has a different risk tolerance and different trading preferences. So, to cater to this demand, they have given 4 account choices to their users. Which are:
a.) STP Account
The deposit requirement for this account is a minimum investment of $10. This account is commission-free, with spreads starting from 0.7 pips.
b.) ECN Account
Requires an investment of $100 with a commission of $2 per side per $100k traded.
c.) ECN Plus Account
Requires an investment of $1,000 with a commission of $1 per side per $100k traded.
d.) Islamic Swap Free Account
A sharia-compliant account for Muslim traders.
This broker offers 4 different trading assets for traders to diversify their portfolios and jump from one market to another, all under one roof. Those assets are:
- CFD indices
24 Hour Fast Withdrawal Service
Hankotrade takes pride in its quick withdrawal service, which guarantees that traders don’t have lengthy delays. The normal processing period for funds is just 24 business hours. It’s noteworthy that many traders have even noted considerably shorter withdrawal times.
Hankotrade Proof of Withdrawals
No Transaction Fee
Hankotrade adheres to a trader-friendly approach by not charging its users for withdrawals or deposits. The goal of this strategy is to improve the trader’s experience. It’s crucial to remember that transaction fees could be charged for withdrawals of less than $50.
All of Hankotrade’s trading account options have a maximum leverage of 1:500. This large leverage might potentially amplify trades. Still, it’s crucial to use it carefully and be aware of the risks involved.
Research and Analysis Tools
A Variety of tools are available at Hankotrade for research and analysis for traders to identify worthy trades. These tools include Forex calculators, E-calendar, and VPS (virtual private server).
Hankotrade’s Forex calculators aid traders in precise risk management and trade planning. These tools include pip calculators, margin calculators, and position size calculators to optimize trading strategies.
Hankotrade’s economic calendars offer real-time updates on economic events, enabling traders to anticipate market movements. Stay informed about crucial financial market announcements, reports, and data releases.
Virtual Private Server (VPS)
Hankotrade provides access to a Virtual Private Server (VPS), offering traders fast and reliable hosting for their trading activities. This ensures uninterrupted trading, minimal latency, and improved execution speed.
Provides MetaTrader Platforms
Hankotrade is a MetaTrader-based trading platform offering support for MetaTrader 4 and MetaTrader 5. This provides traders with the flexibility to select their preferred trading environment.
Amazing Customer Support
Hankotrade prioritizes its customers’ needs, earning recognition for exceptional customer service. Traders can easily connect through various channels, including live chat support, contact forms, email addresses, and phone numbers readily available on their “About Us” page.
Reviewed Positively on Major Review Sites
Hankotrade receives a resounding green flag in trader reviews on prominent review sites. The overwhelming majority of traders have shared positive experiences.
Take a look at the reviews:
Hankotrade Reviews on Sitejabber
Hankotrade Reviews on BrokersView
Hankotrade Reviews on BrokerXplorer
Hankotrade Reviews on Slashdot
Hankotrade Reviews on Forbino
Beginner-Friendly Demo Accounts
Hankotrade is incredibly user-friendly for beginners and gives traders a helpful introduction to online trading. Before moving on to live trading, the platform offers a demo account that enables users to practice trading in a supervised setting for a positive and informative experience.
Bonuses and Promotional Offers
Bonuses and promotional offers are essential for brokers to attract traders to their platforms, and Hankotrade doesn’t hold back on it. It provides generous bonuses and promotional offers to its traders to maximize their earning potential.
100% Deposit Bonus
On depositing a minimum of $100, traders can get a 100% return bonus. So make bigger deposits for bigger bonuses.
Introducing Broker Commission
Hankotrade rewards up to 40% commission to traders who invite new traders to the Hankotrade platform. The 40% of the total traded volume is awarded to the inviting trader.
Cons of Trading With Hankotrade
Limited Transaction Modes
One drawback of Hankotrade broker is its sole reliance on cryptocurrency as the mode of transaction. Additional transaction options would be beneficial, preventing potential trader attrition due to limited payment choices.
Fewer Learning Opportunities
Hankotrade lacks proper learning resources on its platform, and this department has room for improvement. Hankotrade could enhance its trader education by offering more diverse learning resources.
Limited to a FAQ page, adding additional educational materials would empower traders to update their knowledge and skills continually.
Slow email responses
Hankotrade generally provides good customer service, although their email responses can be slow. However, this is mitigated by alternative contact methods on their website, making it a manageable issue for most traders.
Hankotrade Review Conclusion: Announcing The Verdict
The final verdict rests with you, the reader. Our objective was to present accurate facts and figures to assist you in making an informed decision. If you feel confident and consider this information reliable, you may explore the broker yourself.
Nevertheless, we strongly recommend conducting your research to ensure the choice aligns with your individual needs and preferences.