Hankotrade Review: Is Hankotrade Reliable and Trustworthy?

Learn about the unique features of Hankotrade broker in this review, where we explore the range of account types available and other essential details that can help you make an informed decision before registering.

Table of Contents

Hankotrade Review – Introduction

Hankotrade is a CFD, Forex, and cryptocurrency broker registered by FSA of Seychelles. Established in 2018, it aims to provide a highly competitive trading environment to empower its traders to achieve profitable trades and build their portfolios.

Hankotrade Headquarters

Hankotrade’s headquarters is located at Citadel Tower, Office Number – 2802, Business Bay Dubai – UAE.

Is Hankotrade regulated in the US?

Although the CFTC does not license Hankotrade, it is registered and regulated by the Financial Services Authority of Seychelles. This indicates the broker’s commitment to following laws and regulations enforced by financial authorities, making it a reliable option for US traders seeking a safe and trustworthy broker.

Hankotrade as an Attractive Trading Option for Traders

Hankotrade offers a compelling brokerage option for traders of all levels, from beginners to experts. Its combination of tight spreads, reasonable commission rates, exceptional customer service, and powerful trading tools make it an attractive choice for traders looking to enhance their trading experience.

Additionally, the broker offers its valued clients a 100% deposit bonus and rewards them with referral commissions via the Introducing Broker program.

Hankotrade as a Zero-Spread Forex Broker

Hankotrade offers trading accounts with tight spreads, allowing traders to enter or exit the market without the concern of additional expenses.

The spread on the STP account starts from 0.7 pips, while the ECN and ECN Plus accounts offer a great 0.0 pips spread. Hankotrade is among the few selected brokers in the market that can call itself a zero-spread Forex broker.

Commission and Fees Charged by Hankotrade

Hankotrade offers remarkably low commission fees for its trading accounts, including:

STP Account: No commission fees
ECN Account: $2 per side per $100K traded
ECN Plus Account: $1 per side per $100K traded

These low commission fees make Hankotrade an attractive choice for traders looking to minimize their trading costs.

Is Hankotrade a Suitable Broker for Beginners?

Hankotrade offers a low-cost STP account with a minimum deposit requirement of $10, making it an ideal option for beginner traders who want to start with a smaller investment. The account has zero commission fees, allowing new traders to try trading without risking too much.

Can Muslim Traders Trade with Hankotrade?

Hankotrade caters to a diverse customer base and offers swap-free Islamic accounts to Muslim traders who want to trade per their religious beliefs.

How Does Hankotrade Handle Deposit and Withdrawal Fees?

Hankotrade has a 0-withdrawal fee policy, meaning traders can withdraw their funds conveniently and without extra charges. This stands out compared to other brokers, who typically charge a nominal percentage for processing deposits and withdrawals.

Moreover, Hankotrade follows the policy of quick withdrawal. It processes all the withdrawal requests swiftly and transfers the funds to clients within 5 to 7 hours.

Hankotrade’s Proof of Withdrawals

Take a look at the following proof of withdrawals of Hankotrade that vouch for the broker’s credibility:

Does Hankotrade Charge Inactivity Fees?

Unlike many other brokers, Hankotrade does not charge any inactivity fees. This gives traders flexibility and freedom to use and manage their trading accounts as they will.

What Is the Process to Open a Trading Account with Hankotrade?

Opening an account with Hankotrade is straightforward. Traders can begin trading on the same day by logging onto the broker’s website and filling out a registration form. Once verified, traders can select their desired account type, make a deposit, and start trading.

How Can Hankotrade’s Trading Tools Benefit Traders?

Hankotrade offers several trading tools to its clients, including a demo account for practice, an e-calendar to stay updated on market trends, a virtual private server to improve trade execution, and an FX calculator for accurate calculations. These tools can help traders save time and make informed decisions in the volatile trading market.

Is Hankotrade a Trustworthy Broker?

Based on customer feedback on trustworthy websites like Trustpilot, Sitejabber, Slashdot, etc., it appears that Hankotrade is a trustworthy broker. Many customers have praised their positive experience with the broker, including its customer service, ease of use, and reliability.

The fact that so many customers have had positive experiences and shared their feedback on reputable review websites indicates that Hankotrade is a legitimate and reliable choice for traders.

Client Feedback on Trustpilot.com

Client Feedback on Sitejabber.com

Client Feedback on Brokerxplorer.com

Client Feedback on Slashdot.org

Client Feedback on Fx-List.com

Client Feedback on Forbino.com

Is Hankotrade Profitable?

While Hankotrade’s trading environment benefits traders with tight spreads, low commission costs, and high leverage, it’s important to remember that all trading involves risk. Traders should thoroughly evaluate their financial objectives and risk tolerance before making investment decisions.

However, as with any financial investment, conducting research and due diligence is important before deciding. It is also worth noting that past performance does not guarantee future results, and the value of investments can go up or down.

Can U.S. Residents Use Hankotrade?

Yes, residents of the United States are eligible to open trading accounts with Hankotrade without any special conditions or requirements.