Hankotrade

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Leverage 1:500
Minimum Deposit $10
Regulation Unregulated
Year Established 2018
Payment Methods Bank Transfer, Credit/Debit Cards, PayPal, Bitcoin
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
MT4
MT5
cTrader
Spreads Extremely Low
Average cost: EUR/USD 0.3 pips
Demo Account
Islamic Account
CopyTrading
ZuluTrade
Scalping Yes
Signals
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +1234567890
Address 123 Hanko Street, Suite 456, Seychelles
Rating ★★★★☆ 4.4
Website

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Article Content

Pros and Cons

Pros
  • Extremely low spreads
  • High leverage options
  • Multiple payment methods including Bitcoin
  • cTrader platform available
  • Good customer support
Cons
  • Unregulated
  • Limited educational resources
  • No ZuluTrade support
  • Relatively new in the market
  • Limited account types

Introduction

Hankotrade is an emerging online brokerage firm that aims to provide traders with a comprehensive platform for accessing global financial markets.

Established in 2018, the company has positioned itself as a provider of extremely low spreads, high leverage options, and more than 1200 trading assets.

This detailed review will explore various of its aspects, including its trading platform, account types, fees, customer support, and overall performance.

This comprehensive analysis is designed to assist traders with low to intermediate experience in making informed decisions about whether this broker suits their trading needs.

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Company Overview

Background and History

Hankotrade was founded in 2018, making it a relatively new player in the brokerage industry.

Despite its brief history, the firm has made significant strides in attracting a global clientele by focusing on providing low-cost trading solutions and a wide range of trading instruments.

The broker’s growth can be attributed to its commitment to offering competitive spreads, high leverage, and a user-friendly trading platform.

These features have resonated well with traders looking for cost-effective and efficient trading solutions.

Mission and Vision

The company’s mission is to offer an accessible and user-friendly trading environment that caters to both novice and experienced traders.

They aim to empower traders with the tools and resources needed to navigate the complexities of the financial markets efficiently.

The firm’s vision is to become a leading global broker by continuously enhancing its trading platform, expanding its range of trading instruments, and maintaining a customer-centric approach.

Regulation and Security

Regulatory Status

One of the critical aspects to consider when choosing a broker is its regulatory status.

The company is currently unregulated, which may raise concerns for some traders.

Regulatory oversight by reputable financial authorities provides a layer of security and ensures that the broker adheres to specific standards and practices.

The absence of regulation means that the firm operates without external oversight, and traders must exercise caution and conduct thorough due diligence.

Security Measures

Despite being unregulated, the broker implements several security measures to protect its clients’ funds and personal information.

The firm employs SSL encryption to secure online transactions and personal data.

Additionally, it offers negative balance protection, ensuring that traders cannot lose more than their account balance, which is particularly important in volatile markets.

Trading Platforms

Overview of Available Platforms

Hankotrade provides access to the ACT Trader platform, which is known for its robust features and user-friendly interface.

This platform is suitable for both beginners and experienced traders, offering a range of tools and functionalities that cater to diverse trading strategies.

The availability of a single, highly functional platform simplifies the decision-making process for traders, allowing them to focus on trading rather than platform selection.

Features of ACT Trader

User Interface

The ACT Trader platform boasts a clean and intuitive user interface, making it easy for traders to navigate and execute trades.

The platform is available on both desktop and mobile devices, allowing traders to manage their accounts and monitor the markets on the go.

The design prioritizes ease of use, ensuring that even novice traders can quickly become proficient.

Charting Tools

ACT Trader provides a comprehensive suite of charting tools, including various technical indicators, drawing tools, and customizable chart layouts.

These features enable traders to perform detailed technical analysis and make informed trading decisions.

The platform supports multiple chart types, such as line, bar, and candlestick charts, allowing traders to visualize market data in the format that best suits their analysis.

Order Types

The platform supports multiple order types, including market orders, limit orders, stop orders, and trailing stops.

This flexibility allows traders to implement various trading strategies and manage their risk effectively.

Additionally, the platform includes advanced order features like one-click trading and order templates, which streamline the trading process and enhance execution speed.

Automated Trading

Hankotrade offers support for automated trading through Expert Advisors (EA) and trading robots.

Traders can develop and deploy their automated trading systems to execute trades based on predefined criteria, reducing the need for constant market monitoring.

The platform’s robust back-testing capabilities allow traders to test their automated strategies against historical data to optimize performance.

Platform Comparison Table

FeatureACT Trader
User InterfaceIntuitive and User-Friendly
Charting ToolsComprehensive and Customizable
Order TypesMultiple (Market, Limit, Stop)
Automated TradingSupported
Mobile AccessibilityYes

Account Types

Overview

Hankotrade offers several account types to cater to different trading needs and preferences.

Each account type comes with its features and benefits, allowing traders to choose the one that best suits their trading style and objectives.

The variety of account options ensures that both retail and professional traders can find an account that meets their specific requirements.

Account Types and Features

Standard Account

The Standard Account is designed for retail traders who are just starting in the market or those who prefer to trade with smaller amounts.

Key features of this account include:

  • Minimum Deposit: $10
  • Leverage: Up to 1:500
  • Spreads: Starting from 0.3 pips
  • Trading Platforms: ACT Trader
  • Available Assets: Forex, Indices, Shares, Commodities, Cryptocurrencies
  • Deposit/Withdrawal Fees: None

The low minimum deposit makes this account accessible to a wide range of traders, while the high leverage option allows for significant trading flexibility.

Islamic Account

The Islamic Account caters to traders who adhere to Islamic principles.

This account type complies with Sharia law by not charging interest or swap fees on overnight positions. Features include:

  • Minimum Deposit: $10
  • Leverage: Up to 1:500
  • Spreads: Starting from 0.3 pips
  • Trading Platforms: ACT Trader
  • Available Assets: Forex, Indices, Shares, Commodities, Cryptocurrencies
  • Deposit/Withdrawal Fees: None

This account type is particularly beneficial for traders from Muslim-majority countries, providing them with a trading solution that aligns with their religious beliefs.

Demo Account

For traders who want to practice and familiarize themselves with the platform without risking real money, it offers a Demo Account.

This account type is ideal for beginners or those who wish to test new trading strategies in a risk-free environment.

  • Virtual Funds: Yes
  • Leverage: Up to 1:500
  • Spreads: Starting from 0.3 pips
  • Trading Platforms: ACT Trader
  • Available Assets: Forex, Indices, Shares, Commodities, Cryptocurrencies

The demo account provides a realistic trading environment, allowing traders to gain valuable experience and confidence before transitioning to live trading.

Account Comparison Table

FeatureStandard AccountIslamic AccountDemo Account
Minimum Deposit$10$10N/A
LeverageUp to 1:500Up to 1:500Up to 1:500
SpreadsFrom 0.3 pipsFrom 0.3 pipsFrom 0.3 pips
PlatformsACT TraderACT TraderACT Trader
Islamic ComplianceNoYesNo
Virtual FundsNoNoYes
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Trading Instruments

Range of Assets

Hankotrade offers a diverse range of trading instruments, allowing traders to access multiple markets and diversify their portfolios.

The available assets include:

  • Forex: Major, minor, and exotic currency pairs
  • Indices: Popular global indices
  • Shares: Stocks from various international markets
  • Commodities: Precious metals, energy products, and agricultural commodities
  • Cryptocurrencies: Leading digital currencies such as Bitcoin, Ethereum, and others

Detailed Analysis of Trading Instruments

Forex

Forex trading is one of the most popular markets and this broker offers a wide range of currency pairs, including major pairs like EUR/USD and GBP/USD, minor pairs such as EUR/GBP and AUD/JPY, and exotic pairs like USD/TRY and EUR/ZAR.

The tight spreads and high leverage make forex trading attractive to both day traders and long-term investors.

Indices

Hankotrade provides access to several global indices, including the S&P 500, NASDAQ, FTSE 100, and DAX 30.

Trading indices allows traders to speculate on the overall performance of a market rather than individual stocks.

This can be an effective way to diversify a trading portfolio and hedge against risks in other markets.

Shares

The broker offers a selection of shares from major international markets.

Traders can buy and sell stocks from well-known companies like Apple, Google, and Tesla.

This broad selection allows traders to capitalize on movements in the equity markets and take advantage of corporate earnings announcements and other market-moving events.

Commodities

It also provides trading opportunities in more than 50 commodities, including precious metals like gold and silver, energy products such as crude oil and natural gas, and agricultural commodities like wheat and corn.

Commodities trading can offer a hedge against inflation and diversify a portfolio beyond traditional financial instruments.

Cryptocurrencies

The broker has embraced the growing popularity of cryptocurrencies by offering trading in leading digital currencies.

Traders can access markets for Bitcoin, Ethereum, Litecoin, and other major cryptocurrencies.

The volatility of these assets can present significant trading opportunities, although it also requires careful risk management.

Asset Comparison Table

Asset ClassExamples
ForexEUR/USD, GBP/USD, USD/JPY
IndicesS&P 500, NASDAQ, FTSE 100
SharesApple, Google, Tesla
CommoditiesGold, Crude Oil, Silver
CryptocurrenciesBitcoin, Ethereum, Litecoin

Fees and Commissions

Trading Fees

Hankotrade is known for offering some of the lowest trading fees in the industry.

The primary fees to consider are:

  • Spreads: The broker offers extremely low spreads, starting from 0.3 pips for major currency pairs. This competitive pricing can significantly reduce trading costs, especially for high-frequency traders. Lower spreads mean that traders can capture more of the profit from their trades.
  • Commissions: There are no additional commissions charged on standard accounts, making the trading costs straightforward and transparent. The absence of commissions simplifies the fee structure and makes it easier for traders to calculate their potential costs and profits.

Non-Trading Fees

Hankotrade does not charge any deposit or withdrawal fees, which is a significant advantage for traders who frequently move funds in and out of their accounts.

Additionally, there are no inactivity fees, allowing traders to take breaks without incurring extra costs.

This policy can be particularly beneficial for traders who may need to step away from the markets for extended periods.

Fee Comparison Table

Fee TypeDetails
SpreadsFrom 0.3 pips
CommissionsNone
Deposit FeesNone
Withdrawal FeesNone
Inactivity FeesNone

Deposit and Withdrawal

Deposit Methods

Hankotrade offers multiple deposit methods to cater to a global clientele.

These include:

  • Bank Transfer: Traditional bank transfers are available, although processing times may vary. Bank transfers are a secure method but can take several days to complete.
  • Credit/Debit Cards: Major credit and debit cards such as Visa and MasterCard are accepted, providing a quick and convenient deposit option. Card deposits are usually processed instantly.
  • PayPal: A popular online payment method that offers fast and secure transactions. PayPal is widely used and trusted for its security features.
  • Bitcoin: It supports cryptocurrency deposits, allowing traders to fund their accounts with Bitcoin. This method is particularly appealing to those who prefer decentralized financial systems and value privacy.

Withdrawal Methods

Withdrawals can be processed using the same methods available for deposits.

The broker aims to process withdrawal requests promptly, typically within 24 hours, although the actual time may vary depending on the payment method used.

Fast and reliable withdrawals are crucial for traders who need timely access to their funds.

Deposit and Withdrawal Comparison Table

MethodDeposit Processing TimeWithdrawal Processing Time
Bank Transfer1-3 business days1-3 business days
Credit/Debit CardsInstant1-2 business days
PayPalInstant1-2 business days
BitcoinUp to 1 hourUp to 1 hour

Customer Support

Availability and Channels

Hankotrade offers robust customer support to assist traders with any queries or issues they may encounter.

The customer support team is available through multiple channels, including:

  • Email: Traders can reach out to support via email at [email protected]. The team typically responds within 24 hours, providing detailed and helpful answers to a wide range of questions.
  • Phone: For more immediate assistance, traders can contact the support team via phone at +1234567890. Phone support is beneficial for time-sensitive issues that require real-time resolution.
  • Live Chat: The live chat feature on his website provides real-time support, making it a convenient option for quick queries. Live chat is often preferred for its immediacy and the ability to have a written record of the conversation.

Quality of Support

The quality of its customer support is generally regarded as good.

The support team is knowledgeable and responsive, providing helpful solutions to traders’ issues.

The availability of multiple contact methods ensures that traders can receive assistance in the manner that suits them best.

Feedback from users indicates that the support team is courteous and effective in resolving problems.

Customer Support Comparison Table

Support ChannelAvailabilityResponse Time
Email24/5Within 24 hours
Phone24/5Immediate
Live Chat24/5Real-time

Educational Resources

Learning Materials

While the company offers a robust trading platform and low-cost trading options, their educational resources are relatively limited compared to other brokers in the industry.

The available resources include:

  • Basic Tutorials: Simple guides and tutorials to help beginners understand the fundamentals of trading and using the ACT Trader platform. These tutorials cover essential topics such as opening and closing trades, using charting tools, and setting up automated trading.
  • Market News: Regular updates on market trends and news, which can be useful for making informed trading decisions. Staying informed about economic events and market movements is crucial for successful trading.

Areas for Improvement

Hankotrade could enhance its educational offerings by adding more comprehensive resources, such as:

  • Webinars: Live sessions conducted by market experts to provide in-depth knowledge on various trading topics. Webinars can offer interactive learning experiences and allow traders to ask questions in real-time.
  • Video Tutorials: Step-by-step video guides covering different aspects of trading, from basic to advanced strategies. Videos can be an effective way to demonstrate complex concepts visually.
  • E-books: Detailed e-books on trading strategies, market analysis, and risk management. E-books can serve as reference materials that traders can study at their pace.

User Experience

Website Navigation

Its website is well-designed and easy to navigate, providing a smooth user experience.

Key information is readily accessible, and the site layout is intuitive, making it simple for traders to find what they need.

The website’s clean design and clear structure contribute to an overall positive user experience.

Account Management

Managing an account is straightforward.

The account dashboard provides a clear overview of account balances, open positions, and transaction history.

Deposits and withdrawals can be easily initiated from the dashboard, and the process is generally quick and hassle-free.

The platform’s user-friendly design ensures that traders can manage their accounts efficiently.

Trading Experience

The overall trading experience is positive.

The ACT Trader platform is robust and reliable, offering a range of features that cater to different trading styles.

The low spreads and high leverage options are particularly appealing to active traders, while the absence of deposit and withdrawal fees adds to the broker’s attractiveness.

The platform’s performance and reliability contribute to a seamless trading experience.

Performance and Reliability

Platform Performance

Its ACT Trader platform is known for its performance and reliability.

The platform offers fast execution speeds, which is crucial for traders looking to capitalize on market opportunities.

Downtime is minimal, and the platform is generally stable, ensuring a smooth trading experience.

Their infrastructure supports high-frequency trading and the execution of complex trading strategies.

Order Execution

Order execution is a critical aspect of trading, and this broker performs well in this area.

Trades are executed promptly, with minimal slippage, ensuring that traders can enter and exit positions at their desired prices.

The availability of multiple order types further enhances the trading experience.

Efficient order execution is essential for maintaining trader confidence and achieving consistent trading results.

Market Research and Analysis

Research Tools

Hankotrade provides a range of research tools to help traders make informed decisions.

These include:

  • Economic Calendar: A comprehensive calendar that highlights important economic events and announcements that could impact the markets. An economic calendar is an essential tool for traders who need to stay informed about upcoming events that may influence market volatility.
  • Market Analysis: Regular market analysis reports that provide insights into market trends and potential trading opportunities. These reports can help traders identify trends, forecast market movements, and develop effective trading strategies.

Technical Analysis Tools

The ACT Trader platform is equipped with plenty of technical analysis tools, including:

  • Indicators: A wide range of technical indicators, such as moving averages, RSI, MACD, and Bollinger Bands. These indicators help traders analyze market trends, identify potential entry and exit points, and develop trading strategies.
  • Charting Tools: Advanced charting tools that allow traders to analyze price movements and identify patterns. The ability to customize charts and use multiple time frames enhances the depth of analysis.

Prospects and Future Developments

Potential for Growth

As a relatively new company, Hankotrade has shown promising growth since its inception.

The broker’s focus on low-cost trading and a wide range of trading instruments positions it well to attract a diverse clientele.

However, there are areas where it could improve to enhance its competitiveness further.

Planned Enhancements

To remain competitive and attract more traders, the broker could consider the following enhancements:

  • Regulation: Obtaining regulatory approval from reputable financial authorities would enhance the broker’s credibility and provide traders with greater confidence. Regulatory oversight would also ensure that the company adheres to industry standards and best practices.
  • Educational Resources: Expanding the range of educational resources to include webinars, video tutorials, and e-books would make it more appealing to novice traders. Enhanced educational offerings can help traders elevate their skills and make more informed trading decisions.
  • Advanced Trading Tools: Introducing more advanced trading tools and features, such as social trading and enhanced risk management tools, would cater to the needs of more sophisticated traders. Advanced tools can provide traders with additional insights and strategies to improve their trading performance.

Conclusion

Hankotrade offers a compelling proposition for traders looking for low-cost trading options and a diverse range of trading instruments.

The broker’s ACT Trader platform is robust and user-friendly, making it suitable for both beginners and experienced traders.

While the lack of regulation and limited educational resources may be a concern for some, Hankotrade’s competitive spreads, high leverage options, and responsive customer support make it a viable choice for many traders.

As the broker continues to grow and potentially address its current limitations, it has the potential to become a more prominent player in the online brokerage industry.

In summary, Hankotrade provides a solid trading environment with a focus on cost efficiency and a wide range of trading opportunities.

Traders seeking a broker with low fees, a wide array of assets, and a reliable trading platform will find it to be a suitable option.

The firm’s commitment to continuous improvement and customer satisfaction positions it well for future growth and success in the competitive world of online trading.

Visit official website:www.hankotrade.com

FAQ

Is Hankotrade regulated?

No, the company is currently unregulated.

What is the minimum deposit?

The minimum deposit required to start trading is $10.

Does Hankotrade offer a demo account?

Yes, the broker offers a demo account for traders to practice and familiarize themselves with the platform.

What payment methods does it accept?

Hankotrade accepts Bank Transfer, Credit/Debit Cards, PayPal, and Bitcoin.

What is the leverage offered?

Hankotrade offers a maximum leverage of 1:500.

Are there any deposit or withdrawal fees?

No, this broker does not charge any deposit or withdrawal fees.

What trading platforms are available?

Hankotrade supports cTrader trading platform.

Resources

User Reviews

“I have been trading with them for about a year now, and my experience has been mostly positive. The spreads are extremely low, which helps me maximize my profits. I also appreciate the range of payment methods available, especially Bitcoin, as it offers me more flexibility. The customer support team has always been responsive and helpful whenever I’ve had questions. However, I do wish they offered more educational resources for traders. Overall, Hankotrade is a solid choice for experienced traders looking for low-cost trading options.”
Emily Johnson
“Hankotrade has been a game-changer for me. The platform is user-friendly. I particularly like their copy trading feature, which allows me to follow and replicate the trades of successful traders. The support team is quite responsive, although I had a minor issue with the verification process, which took longer than expected. Other than that, my trading experience has been great, and I would recommend it to both beginners and experienced traders.”
Michael Smith
“I’ve been with Hankotrade for six months, and I’m impressed with their services. The spreads are some of the lowest I’ve seen, and the leverage options are excellent.The only downside is that they’re unregulated, which makes me a bit cautious. However, their customer service has been top-notch, and I haven’t faced any major issues so far. I would recommend it to anyone looking for a reliable and low-cost broker.”
Sophia Martinez
“This broker offers a great trading experience with its low spreads and high leverage. I also like the variety of assets available for trading. The only drawback is the lack of educational resources and the fact that they are unregulated. Despite these points, I’ve had a positive experience overall. The customer support team is responsive, and the deposit and withdrawal process is smooth and fee-free. I would recommend Hankotrade to traders who are comfortable with unregulated brokers and are looking for low trading costs.”
James Brown
“I’ve been trading with them for a few months now, and so far, my experience has been satisfactory. The spreads are incredibly low, which is a big plus. I also appreciate the various payment methods, including Bitcoin, which adds to the convenience. The only issue I’ve faced is the lack of regulation, which is a concern for me. Nevertheless, the customer support team has been very helpful, and its trading platform is robust and user-friendly. I would recommend this company to traders who prioritize low trading costs.”
Olivia Davis
“As a newbie to trading, it has been quite accommodating. The demo account feature allowed me to practice before diving into live trading. The customer support team has been very patient and responsive to my queries. However, I feel the educational resources could be improved to help beginners like myself. The platform is easy to use, and the low spreads are a significant advantage. Despite being unregulated, Hankotrade has provided a good trading experience so far.”
William Wilson

Article written, edited and reviewed by

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Last updated: June 11, 2024