This review will help you determine if Hankotrade, a Dubai, UAE-based broker, is the right choice for your trading endeavors. Founded in 2018 by experienced traders worldwide, the company aims to provide institutional and retail clients with a distinctive trading experience that supports their trading careers.
Let’s examine the key offerings by Hankotrade that set it apart from other brokers.
Top 3 Features of Hankotrade
1. Competitive Commissions and Narrow Spreads
One standout advantage of Hankotrade is its relatively low commission rates compared to other brokers, earning it the reputation of being one of the lowest-commission Forex brokers.
Here’s an overview of the commission and spread for each account type:
- STP account: No commission, spread of 0.7 pips.
- ECN account: $2 commission per side per $100K traded, spread of 0.0 pip.
- ECN Plus account: $1 commission per side per $100K traded, spread of 0.0 pip.
2. Diverse Account Options for Every Trader Level
Hankotrade offers four distinct account types, each tailored to different trader needs and styles. The STP account, requiring only a $10 deposit and without commission fees, caters to novice traders. For experienced traders seeking protection against negative balances, the ECN account, with a $100 deposit and low spreads, is a suitable choice.
The ECN Plus account, designed for professional traders and investors, demands a minimum deposit of $1000 and offers spreads starting from 0.0 pips. Additionally, for Muslim traders adhering to religious principles, Hankotrade provides Islamic accounts that don’t charge rollover interest on overnight positions.
The broker also offers a demo account, allowing potential clients to test platform features before opening a live account, providing valuable experience in a risk-free environment.
3. Bonus and Commission Opportunities
Hankotrade introduced a bonus and commission program to reward its customers, a common practice among brokers to attract and retain traders.
Let’s explore these offerings:
- 100% Deposit Bonus
Hankotrade extends a 100% deposit bonus on every trading account deposit. This bonus matches the deposited funds and can be utilized to expand trading resources.
To qualify, clients must visit Hankotrade’s Promotional Offers page, click “Claim Now,” and enter their client portal credentials. After depositing a minimum of $100, the bonus margin will be credited within one working day.
The second program offered by the broker is:
- Introducing Forex Broker
The ‘Introducing Forex Broker’ program is Hankotrade’s way of rewarding existing clients who refer new traders. By becoming sub-brokers, clients can introduce Hankotrade to their network and earn commissions if new traders join based on their recommendations.
Through this partnership, traders can earn up to 40% commission, offering an easy way to enhance their accounts by referring friends and family.
Which Trading Platforms Does Hankotrade Offer?
Hankotrade offers traders a choice between two versatile trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Accessible through desktop and mobile applications, these platforms provide convenience and flexibility.
MetaTrader 4 (MT4)
MT4, renowned in the trading community, presents an intuitive interface and essential tools for seamless trading. It suits traders of all levels, facilitating real-time data access, trade execution, and technical analysis.
MetaTrader 5 (MT5)
MT5 builds upon MT4’s foundation, offering extra advantages. It introduces features like trading on Bitcoin-denominated accounts, extended technical analysis tools, and a diverse range of time frames for chart analysis. This expanded functionality caters to diverse trading preferences.
With MT4 and MT5, Hankotrade caters to traders seeking simplicity or advanced features, enriching their trading experiences and empowering them to achieve their goals effectively.
How to Open an Account with Hankotrade?
Opening a Hankotrade account is simple and swift. By selecting the Register option on the broker’s website’s homepage, clients are directed to a registration form.
After agreeing to terms and conditions and making a cryptocurrency deposit, the account becomes operational, allowing trading to commence on the same day.
Is Hankotrade a Regulated Broker?
Hankotrade is a registered and regulated broker under the Financial Services Authority (FSA) of Seychelles.
What Deposit and Withdrawal Methods Are Available at Hankotrade?
Hankotrade exclusively facilitates deposits and withdrawals through cryptocurrencies. The broker processes these transactions within hours, with funds promptly reflected in traders’ accounts. It is worth noting that Hankotrade imposes no deposit or withdrawal fees.
Hankotrade Withdrawal Processing
Hankotrade has garnered recognition for its efficient withdrawal processing. Many traders report that withdrawal requests are processed promptly within 2 to 3 hours. Users appreciate the seamless system, contributing to their satisfaction with the broker’s services.
Take a look at the following email update screenshots shared by real clients of Hankotrade:
What Customer Support Options Does Hankotrade Provide?
Hankotrade offers several customer support channels for addressing queries and concerns. Clients can contact support through email, phone, or live chat on the website. Customer service representatives are available 24/5 to assist with any issues. Traders can also consult the extensive knowledge base and FAQ section for common inquiries.
Hankotrade Client Feedback: Insights from Traders
Hankotrade has established a solid reputation as a trustworthy online broker. Catering to a global audience, the broker has effectively served numerous clients worldwide. Satisfied customers have shared their positive experiences with Hankotrade on popular review platforms like Trustpilot.com, Slashdot.org, and others.
Hankotrade Client Reviews on Sitejabber.com
Hankotrade Client Reviews on Forbino.com
Hankotrade Client Reviews on Slashdot.org
Hankotrade Client Reviews on Brokerxplorer.com
Hankotrade Client Reviews on Brokersview.com
Hankotrade May Suit Your Trading Needs…
Hankotrade is a regulated online broker offering various trading products and services. Backed by a favorable market reputation and positive customer reviews, it’s worth considering for traders seeking a reliable broker.
For those interested in exploring Hankotrade further, visiting their website and conducting personal research is recommended. Additionally, opening an account with a $10 investment can help determine if it aligns with your trading requirements.
