If you’re looking for a comprehensive and unbiased review of Hankotrade, you’re in the right place. This review will take you through the various features and services that Hankotrade, a trading broker founded in 2018 by experienced traders, has to offer.
Headquartered in Dubai, Hankotrade operates as a No Dealing Desk (NDD) ECN broker, aiming to provide traders with the necessary tools to foster account growth. Let’s dive into the key aspects of Hankotrade and why it’s catching the attention of traders.
Hankotrade’s Regulation and Trading Instruments
Hankotrade operates under the regulation of the Financial Services Authority of Seychelles (FSA) and diligently adheres to all regulatory guidelines. The broker boasts a diverse array of trading instruments, including major and minor currency pairs, prominent international stocks, energy resources, precious metals, and cryptocurrency pairs.
Account Types Offered At Hankotrade
Tailoring to traders of varying experience levels, Hankotrade offers five distinct trading account types. These comprise a demo account, an STP account, an ECN account, an ECN Plus account, and a swap-free Islamic account.
- Demo Account
A stepping stone for beginners, the demo account allows novices to practice trading without real-money risk. Even experienced traders can use it to refine their strategies without any financial pressure.
- STP Account
The STP account demands a modest $10 deposit and showcases spreads from 0.7 pips without any commissions.
- ECN Account
Requiring a minimum deposit of $100, the ECN account is characterized by zero spreads and a nominal commission of $2 per side per $100K traded.
- ECN Plus Account
For a more competitive option, the ECN Plus account mandates a $1,000 deposit. It offers zero spreads like the ECN account, but with an even lower commission of $1 per side per $100K traded, making Hankotrade one of the lowest commission Forex brokers.
- Islamic Account
Hankotrade accommodates Muslim traders with a swap-free Islamic account. This account type allows traders to adhere to their religious principles by avoiding interest charges on overnight positions.
Leverage Offered on Trading Accounts
With leverage reaching up to 1:500 on all trading accounts, Hankotrade empowers traders to trade higher positions relative to their account balance. This generous leverage facilitates greater control and potential for profits.
Security Measures Implemented by Hankotrade
Hankotrade prioritizes cybersecurity and data protection through several security measures:
- Compliance with Forex Regulations
Regulated by the FSA, Hankotrade adheres to fund segregation policies, safeguarding clients’ funds in separate accounts to ensure their safety in case of bankruptcy.
- Two-Factor Authentication
A two-step verification process adds an extra layer of security to prevent unauthorized access to traders’ accounts.
- Secure Socket Layer (SSL) Encryption
SSL encryption shields clients’ sensitive information, safeguarding them against cyber threats.
The Top 6 Benefits of Signing Up with Hankotrade
- Low Costs and Fees
Hankotrade stands out with its minimal commissions and tight spreads, allowing traders to maximize profits.
- Negative Balance Protection
Hankotrade offers negative balance protection, preventing traders from incurring losses beyond their initial investment.
- Reliability and Security
Trusted by traders, Hankotrade receives positive reviews for its reliability, security, and user-friendly experience.
- Quick Withdrawals
Hankotrade’s swift withdrawal process, coupled with a no-fee policy, garners praise from traders.
- Responsive Customer Service
Hankotrade’s customer service promptly addresses traders’ concerns, providing solutions when needed.
- Generous Bonuses and Commissions
Hankotrade offers bonuses and referral commissions, allowing traders to enhance their trading capital. Currently, the broker has 2 such programs on its website:
- 100% sign up bonus
- Introducing Forex Broker referral program
How Does Hankotrade Ensure the Security of Its Clients’ Funds and Personal Information?
Hankotrade secures clients’ funds through regulatory compliance, SSL encryption, and two-factor authentication. Segregation of client funds adds an extra layer of protection.
Do Traders Trust Hankotrade?
Hankotrade has earned the trust of traders globally, boasting positive reviews on platforms like Trustpilot.com, sitejabber, Slashdot.org, etc. Take a look at some of the positive reviews shared by the Hankotrade clients on these platforms.
The Bottom Line: Is Hankotrade Worth Your Time and Money?
With competitive offerings, regulatory compliance, and a reputation for reliability, Hankotrade emerges as a credible option for traders of all levels seeking a secure and efficient trading experience.
We would suggest you visit the broker’s website to learn more about its offerings and policies.