Hankotrade Review
Hankotrade is offering a diverse range of trading instruments and services to help you work towards your financial goals. You can trade Forex along with CFD Indices, Commodities and Cryptocurrencies with Hankotrade.
Hankotrade is Forex, CFD and Cryptocurrency broker. They operate is a true ECN broker with spreads starting from as low as 0.0 pips, low commission fees and rapid trade execution speeds. Anyone can who wants to trade or invest online can open an account with Hankotrade in just a few minutes. They have a minimum deposit of just $10 and even offer free demo accounts if you would like to practice trading online risk free with virtual money before trading your own funds.
Built by traders for traders, the Hankotrade team members have a vast amount of trading experience across financial markets from Asia to North America. The brokers mission is to provide retail and institutional clients around the world with an exceptional trading environment and empower them to reach their full potential.
Hankotrade is a CFD Broker that utilises a fully automated ECN execution model with No Dealing Desk (NDD) intervention between your trades and the market. This means that clients can get access to liquidity from leading, international banks/liquidity providers. All client orders are settled with liquidity providers thus ensuring that there is no conflict of interest between broker and clients.
Hankotrade can therefore offer tighter spreads, lower commission fees and superior execution speeds. They have a good range of trading accounts, including commission free accounts, demo accounts and Islamic accounts. Live chat support is available around the clock. However, the broker is not currently regulated which may deter some traders. If you are one of them, you might want to consider IG as an alternative option as they are one of the most well-regulated brokers that you will find.
You can trade Forex along with CFD Indices, Stocks, Commodities and Cryptocurrencies with Hankotrade. A CFD stands for contract for difference. CFD trading allows you to take a position on the price of an instrument without actually owning the underlying asset. One of the most unique aspects of CFDs is that they enable you to profit from falling markets as well as rising ones. The variety of trading instruments offers greater opportunities and account freedom for Hankotrade clients.
Hankotrade Instruments Summary
| Instruments | Hankotrade |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
Hankotrade have a flexible choice of account types. Each account has a different commission fee and minimum spread. You can choose from a zero-commission account with a small spread mark-up. Alternatively, you can get a minimum spread from 0.0 pips and a very small commission charge of just $1 per side on the broker top account. In fact, Hankotrade have some of the lowest commission fees and spreads that we have seen from any broker. This can help to save on trading costs in the long term.
The type of account that you opt for may depend on your trading strategy. Those who are active traders and take positions throughout the day may prefer tighter spreads whereas investors who plan on holding positions for a long period of time may prefer the lower commissions. Either way, there is an account type to suit all trading styles with unbelievably low commission fees.
| Fee | STP | ECN | ECN Plus |
|---|---|---|---|
| Commission (per standard lot per side) | $0 | $2 | $1 |
| Spreads from | 0.7 | 0.0 | 0.0 |
Deposit and Withdrawal Fees
Hankotrade does not have any charges on deposits and/or withdrawals for its clients. They have a zero fees policy for clients in this regard. This is great as it means the amount of funds you transfer should be the amount that you expect to see in your account. However, make sure you check to see if there will be any applicable banking or third-party processor fees.
Inactivity Fees
There is no inactivity fee with Hankotrade. This means that you can use your account as and when it pleases you. Some brokers help themselves to your balance if you do not use your account for a specific amount of time.
Hankotrade aim to ensure that you have a convenient trading environment by providing you with one of the best trading platforms in MetaTrader 4. There are no restrictions on the platform, with all trading styles allowed. Hankotrade poses no restrictions or limits on its clients’ trading activities. Currently Hankotrade offers MT4 Desktop, MT4 Web-trader and MT4 for iOS and Android.
MetaTrader 4
The MetaTrader 4 trading platform is outstanding when it comes to providing traders of all experience levels with an efficient trading experience. MT4 is the platform of choice when it comes to trading forex and CFDs online, with millions of users all over the globe.
Using the intuitive MT4 platform, you can implement the most complex trading strategies and market analysis whilst being able to quickly and easily place and manage your trades. It is a flexible and convenient trading platform that ensures a personalised and effective trading environment which can considerably influence your trading performance.
MT4 is available for desktop with full functionality. The MT4 web platform can run directly in your web browser without needing to install any software. Then there is the MT4 mobile trading app which is handy for those who would like to access their account and trade whilst on the go from anywhere in the world with an internet connection.
Key MT4 features include:
- Access the global markets
- Quick and easy trading
- Detailed market analysis
- Multiple chart types and timeframes
- Price alert notifications
- Trading signals
- Automated trading (expert advisors)
- Custom trading tools
- Online community
- Desktop, web and mobile versions
- Free to use
MetaTrader 5
MetaTrader 5 (MT5) is the successor to MT4 with a similar layout, additional trading features and functionalities. It has a wide range of completely new features to enhance your trading experience.
There are an impressive 21 timeframes to choose from. Now you can trade on 11 different types of minute charts and 7 different types of hourly time frames on top of daily/weekly and monthly time frames for enhanced market analysis.
Get additional pending orders along with Buy stop/limits and Sell stop/limits, also place additional orders such as Buy Stop-Limit and Sell Stop-Limit.
MT5 has enhanced market analysis using 38 different technical indicators, 44 analytical objects and depth of market pricing. In addition to USD, EUR and CAD, MT5 allows you to trade on Bitcoin denominated accounts.
You can trade stocks anywhere in the world using the MetaTrader 5 mobile platform. Download MetaTrader 5 mobile for free from Hankotrade and start trading right now. MetaTrader 5 supports algorithmic trading, which implies trading on exchange markets by a preset algorithm using automated trading robots.
Hankotrade Platforms Summary
| Platform | Hankotrade |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | x |
| Other | x |
One area where Hankotrade is distinctly lacking is education. There aren’t any trading guides, tutorial videos or market analysis to help support those new to trading online. That being said, they do offer free demo accounts to get familiar with trading whilst you will find an abundance of educational materials available online. If you are a beginner and looking for a broker with lots of educational content, IronFX have a great selection of trading guided and videos to help you along your trading journey.
FX Calculators
Hankotrade provides its clients with a handy forex calculator that functions in a range of currencies, so you do not have to convert each figure. A smooth and convenient forex trading experience is possible with the forex calculator which works out any financing charges or credits on legacy accounts.
Hankotrade Research and Education Summary
| Resources | Hankotrade |
|---|---|
| Market Analysis | x |
| Guides | x |
| Videos | x |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | x |
| Other (Trading Calculator) | ✓ |
Hankotrade are one of a few brokers that let you fund your account with various cryptocurrencies including Bitcoin and Ethereum. They process all withdrawals within one working day on business days to ensure a smooth transaction with minimal delay. Hankotrade processes withdrawals through the same payment method that was used to make deposits. However, they can send you your profits via any other method under your name if you specifically request them to do so. I think they could improve by adding some more payment methods such as e-wallets. This would help to avoid blockchain fees and speed things up. If you want to fund your account using e-wallets, FXChoice have a good selection.
Hankotrade Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | x | x |
| Credit/debit Card | x | x |
| Electronic Wallets | x | x |
| Cryptos | ✓ | ✓ |
Hankotrade is currently not regulated. This may put off some investors but it may be seen as a positive by others. Although not being regulated can mean that there may be no help should something go wrong, it also means that Hankotrade is able to offer particular products and services that a regulated broker cannot due to strict rules and regulations. If you would rather use a regulated broker, please feel free to browse our broker ratings for alternative options.
Hankotrade Regulation Summary
| Regulator | Hankotrade |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other | x |
Hankotrade Safety
Hankotrade always ensures transparency in an effort to uphold the interests of its valued clients. They also offer negative balance protection. With Negative Balance Protection, clients should not lose any more than the total sum invested for CFDs.
The Hankotrade ready-to-assist client agents are available for customers at all times. You can reach them conveniently from live chat on the brokers website or leave them a message and they will be happy to help. There isn’t a contact telephone number provided but we managed to speak with someone on the live chat right away. They are very prompt, polite and helpful from my experience.
Hankotrade has maintained its reliable and client friendly reputation through its tight spreads, low commission fees, easy deposits and instant withdrawals. Hankotrade allows its clients to take advantage of outstanding trading conditions via user-friendly trading platforms for desktop, web and mobile devices. The broker offers a wide range of trading instruments without any restrictions on trading strategies including automated trading and scalping. The main downside being the lack of regulation at this time and funding options limited to cryptocurrency.
