As the Forex market continues to increase, numerous individuals are enthusiastic about building a lasting career in currency trading. They’re motivated, eager to learn and practice, and committed to their goals.
However, new traders often face a significant challenge: finding a reliable broker. The market is filled with options, but sadly, not all brokers have the traders’ best interests at heart.
So, before you commit to a broker, you must do your homework, read reviews, and make an informed decision.
In our Hankotrade review, we’ll be taking a closer look at what this platform offers.
So, let’s dive right in.
What is Hankotrade?
Hankotrade is a global Forex, Commodities, CFD Indices, and Cryptocurrency broker. It’s established, managed, and operated by a skilled and experienced team of traders who know what’s essential in the trading market.
The founders of Hankotrade have been successful in the primary money markets from Asia to North America since the 1980s.
Features of Hankotrade
Choosing the right broker can make a difference in your trading journey. When deciding on a broker, compare their features with competitors. This comparison will help you find the best broker for your trading career.
Here are some features that make Hankotrade stand out for both new and experienced traders:
- Swift Account Opening
Signing up with Hankotrade is a breeze. The broker offers a fast and straightforward registration process. Just visit their website, find the account types, choose your preferred option, and you’re ready.
You can set up your account in as little as five minutes and start trading.
- Minimal Deposit Requirement
The Forex market can be risky, and one wrong move could jeopardize your resources. New traders should start small, trade cautiously, and gradually increase their capital.
With this in mind, Hankotrade offers an STP account with a minimum deposit of just $10. This account is perfect for those who want to learn the ropes without risking their savings.
- Affordable Commissions
It’s no secret that brokers charge commissions on traders’ earnings. But the good news is that Hankotrade doesn’t take much of your profits.
With $0 commission on the STP account, $2 on an ECN account per $100k traded, and $1 on an ECN Plus account per $100k traded, you can keep more of your earnings.
- Competitive Spreads
Low spreads allow traders to enter or exit trades without fretting about extra costs. A trading account with low spreads is ideal, but not all brokers offer this feature. However, Hankotrade’s spreads start from 0.0.
- 100% Deposit Bonus
Hankotrade’s 100% Bonus program helps clients increase their account margin. What’s great about this bonus is that you don’t need to deposit a large sum to enjoy it.
With a deposit as low as $100, Hankotrade matches and credits the bonus to clients’ accounts. This enticing offer lets traders boost their trading funds and leverage their accounts, ultimately enhancing their trading experience.
- Zero-Cost Deposits and Withdrawals
Many brokerage firms charge fees for deposits and withdrawals, but not Hankotrade. You won’t pay a dime for depositing or withdrawing funds from your account, as all requests are processed for free.
Hankotrade Trading Platforms
Your trading platform can make or break your success in the market. If it’s slow, glitchy, or has poor execution, it can hurt your trading performance.
Hankotrade recognizes the need for efficient and accurate trading platforms for its clients. They offer two primary trading platforms:
- MetaTrader 4
MetaTrader 4 provides multiple execution modes, pending orders, and market orders. Additionally, it offers a variety of other trading applications. Hankotrade supports MT4 on Windows, OSX, Android, Web Applications, and iOS devices.
- MetaTrader 5
It’s an upgraded version of MT4, including all MT4 features plus some performance-enhancing characteristics. These include trading on various timeframes, using stop-loss orders, and accessing numerous technical indicators.
Hankotrade Account Types
Now let’s examine the different types of retail investor accounts offered by this offshore broker. It’s important to consider the various account types, as each has its trading conditions.
This account type offers commission-free trading with a minimum deposit of only $10. The maximum leverage of this account is 500:1, and the minimum lot size is 0.01.
However, spreads start at 0.7 pips, higher than the 0.0 pips starting point for the other account types. STP accounts offer three base currencies: USD, EUR, and CAD.
This account charges $2/side per $100k position size, offers a maximum leverage of 500:1 with a minimum lot size of 0.01, and features spread starting at 0.0 pips.
However, the minimum deposit requirement is $100. The base currencies for this account type are USD, EUR, and CAD.
- ECN Plus
The ECN Plus account is Hankotrade’s most popular option. It offers all the same benefits as an ECN account but with commissions lowered to $1/side per $100k position size.
- Islamic Account
These retail investor accounts are designed for Muslim traders to enjoy Hankotrade while adhering to Sharia law.
Pros of Hankotrade
- Low minimum deposit
- Free demo accounts
- Multiple platform options
Cons of Hankotrade
- Crypto-only funding
- Limited educational content
Is Hankotrade Worth It?
Hankotrade might not be the perfect fit for everyone. While the online trading broker supports various trading instruments and offers various account types, the platform’s unconventional nature may not appeal to some investors. After all, not everyone is comfortable with crypto-only funding.
However, for those who would like to try the platform, Hankotrade has much to offer. Traders can access various chart types and technical indicators (thanks to MetaTrader), trade numerous forex pairs and start trading with just a $10 deposit.
If tight spreads, commission-free trading, and crypto funding sound appealing, we highly recommend trying Hankotrade. Click here to sign up for Hankotrade and see for yourself.