Hankotrade is one of the fastest-growing, lowest commission, and zero-spread Forex brokers in the trading world.
The brokerage firm was established in 2018 in Seychelles. Hankotrade is licensed by the financial regulatory body FCA of Seychelles and ensures to follow all the guidelines set forth by the financial authority.
Hankotrade offers several trading instruments, including Forex currency pairs, commodities, international stocks, precious metals, and cryptocurrencies. The broker provides a competitive trading environment, low commissions, and tight spreads to enable traders to make the most of their trades in the market.
Let’s explore the main features, pricing, and account types offered by Hankotrade:
Hankotrade’s Offered Trading Accounts
Hankotrade offers 5 account types for traders to choose from, which are:
1. Demo account
2. STP account
3. ECN account
4. ECN Plus account
5. Islamic Swap-free account
What is the Initial Deposit Requirement of Hankotrade?
It is easy on the pocket to open a trading account with Hankotrade. The minimum deposit requirement for the STP account is $10, $100 for an ECN account, and $1,000 for an ECN Plus account.
How Much Commission and Spread Does Hankotrade Charge?
Hankotrade’s spreads and commission charges are quite reasonable, making it easy for newbie traders to open a trading account and access the trading markets.
The spreads on the STP account begin from 0.7, and the commission charges are $0. The spread on ECN and ECN Plus accounts are as low as 0.0 pips with commission charges of $2 per side per $100K traded and $1 per side per $100K traded, respectively.
How Much Leverage Does Hankotrade Provide?
Hankotrade provides a high leverage ratio of 1:500 on all its trading accounts. This high leverage is attractive for seasoned traders who can open potentially more profitable positions and grow their accounts.
Which Hankotrade Trading Account Is Best for Beginner Traders?
The STP account at Hankotrade has an initial deposit requirement of $10, which is a low amount and suitable for traders who want to start with smaller positions. Additionally, no commissions are charged on trades made through the STP account.
One of the major advantages of the STP account is the high leverage it provides, which is somewhere around 1:500. The high leverage lets traders open larger positions along with a modest amount of capital.
Currently, the broker only accepts deposits and processed withdrawals through cryptocurrency. No alternate method is available for deposits and withdrawals. However, the escalating use of cryptocurrencies as a payment method isn’t a major problem for traders.
How Long Does Hankotrade Take to Process Withdrawals?
Hankotrade processes the withdrawal requests at their earliest and transfers the funds from the trader’s trading account to their wallets within just a few hours. Many traders have appreciated Hankotrade for quick withdrawals.
Hankotrade Withdrawal Evidences
Does Hankotrade Charge Withdrawal Fees?
Hankotrade follows a zero-withdrawal-fee policy and deducts nothing to process withdrawal requests. Traders can easily withdraw their funds anytime without worrying about incurring additional charges. Moreover, the broker hadn’t set any minimum withdrawal amount threshold, allowing traders to withdraw as much as they wanted from their trading account.
Hankotrade’s Trader Rewards: Bonuses and Referral Commissions
Hankotrade extends exclusive rewards and bonuses to its traders to foster a healthy trading ecosystem and win their trust. These perks include:
1. 100% Bonus
New traders who make an initial deposit of at least $100 can qualify for a deposit bonus of 100% or equivalent. The bonus amount is automatically credited to their wallet upon completing the deposit. The bonus can serve as an additional margin, which allows traders to expand their trading fund and access more substantial positions.
2. Referral Commissions
Traders can also benefit from Hankotrade’s “Introducing Forex Broker” referral program, which offers up to 40% commission on the total traded amount by referred clients. This program offers an earning opportunity to traders who successfully refer others to the platform.
Do Traders Trust Hankotrade?
Hankotrade clients are highly satisfied with the broker’s services and transparency. They have appreciated the broker’s services on plenty of credible review posting forums. The following are some of the reviews shared by the traders.
These reviews are a clear testament to traders’ satisfaction and trust in Hankotrade.
Hankotrade Client Testimonials on Slashdot.org
Hankotrade Client Testimonials on Forbino.com
Hankotrade Client Testimonials on Brokerxplorer.com
Hankotrade Client Testimonials on FX-List.com
Final Thoughts on Hankotrade Review: Is Hankotrade Worth Considering as a Trading Broker?
Hankotrade strongly emphasizes ensuring a secure and transparent trading environment for its users. It offers tight spreads, fast order execution, and a range of trading tools to help traders manage their risks and make informed trading decisions.
Hankotrade is a suitable option for traders looking for a user-friendly platform with a wide range of trading instruments and reliable customer support. Its low deposit requirements, flexible account types, and exclusive rewards and bonuses make it an attractive choice for novice and experienced traders.