In today’s article, we will delve deep into Hankotrade Broker. We will walk you through its regulation compliance, account features, withdrawal speed, and thoughts of the trading community on this broker.
Let’s get started.
Hankotrade is an NDD CFD, Forex, Cryptocurrency, Indices, and Commodities broker established in the year 2018. The company is headquartered in Bonovo Road, Fomboni, Comoros.
The founders of Hankotrade envisioned providing a competitive trading environment to traders of all levels and helping them unleash their trading potential.
The FSA of Seychelles licenses the broker and works under the rules and regulations established by the regulatory body. Hankotrade ensures to strictly adhere to all the guidelines provided by the FSA to run their company fair and square and secure the funds of their traders.
The infra paragraphs will now explore the various account types available at Hankotrade.
Availability of Different Account Types at Hankotrade
The broker provides five distinct accounts to accommodate the trader of every level –from novice to seasoned players; Hankotrade has got something for everyone.
Hankotrade offers a 100% free demo account with real-life trading conditions and dummy capital. This account is great for traders to learn to trade and to test various strategies to maximize their profits or mitigate risk.
The STP Account is a micro-trading account of Hankotrade. New traders can open this account with just a small deposit of $10. This account is great for people who want to get the flavor of trading without risking a great amount.
The ECN account is an excellent choice for intermediate traders who have understood the dynamics of trading and can now navigate the trading world better. The deposit requirement for opening this account is comparatively lower than other brokerages in the market, i.e., $100.
ECN Plus Account
This account is the upgraded version of the ECN Account and is best suited for PRO traders. The deposit requirement to trade on this account is $1,000.
Islamic Swap Free Account
Hankotrade is one of the few inclusive brokers in the trading world that tend to the needs of their Muslim clients. Hankotrade provides a swap-free account for Muslims to abide by Shariah law and trade without dishonoring their religious norms.
Hankotrade Trading Platform
Hankotrade understands the importance of a secure and well-oiled trading platform. That’s why it offers ActTrader, one of the industry’s leading and most well-renowned trading platforms, to its clients.
ActTrader is available in web, desktop, and mobile applications, making it super convenient for traders to stay connected to the markets on multiple devices. The trading platform allows clients to execute their trades smoothly, manage their accounts without hassle, benefit from rich charting and analysis tools, etc.
In a nutshell, ActTrader quips traders with super helpful features that can help them ace their trades and get the most profit.
Why did Hankotrade Move to ActTrader from MetaTrader?
Initially, the broker offered its clients the industry-renowned MetaTrader4 and MetaTrader5. But recently, it decided to provide its invaluable clients with a feature-rich and fast platform that allows maximum customization. Hence, the brokerage shifted to ActTrader to align with its vision of providing a trading environment that brings the best out of the traders.
ActTrader’s advanced charting and technical analysis capabilities allow traders to better assess the market before staking their money in line. Moreover, the platform’s high frequency of 100 ticks per second eradicates the chances of lagging, which is detrimental to trades.
So, while MetaTrader was an excellent choice for a trading platform, ActTrader is feature-rich and promising for traders to enhance their trading experience and trade profitably.
For videos on how to use Hankotrade ActTrader, subscribe to their official channel: https://www.youtube.com/@hankotrade
Hankotrade’s Fees Structure and Spreads
The following table shows the schedule of commission charges, fees, and spread charged by Hankotrade on its traders.
|Starts from 0.7 pips
|Starts from 0.0 pips
|$2 per side per $100K traded
|Starts from 0.0 pips
|$1 per side per $100K traded
Hankotrade does not charge any extra fees such as inactivity fees, deposit fees, withdrawal fees, or any other charges. The broker is transparent about its fees and doesn’t conduct any sneaky activity on its client’s account.
Hankotrade Trading Tools
Hankotrade offers two tools on its platform to assist traders in making the most of their trades.
Virtual Private Server
The VPS provided by Hankotrade aims to smoothly and efficiently run their forex trading system. The seamless functioning of the trading platform will reduce the probability of slippage and result in more swift execution by preventing delays and latency.
Furthermore, by using the VPS, traders can stay connected to the market in unfortunate cases of power outages or other situations that might disconnect them from the market.
Another tool available on Hankotrade’s platform is a forex calculator that performs calculations in various currency bases. The forex calculators include:
- Commission Calculator
- Pip Calculator
- Swap Calculator
- Margin Calculator
Besides these two tools, the broker currently doesn’t have any other advanced tool available on its platform. The limited availability of tools is one of the prominent drawbacks of this broker, as highlighted by plenty of its potential and existing client base.
Hankotrade Deposits and Withdrawals
Hankotrade accepts deposits and processes withdrawals in cryptocurrency pairs. At the moment, the broker doesn’t have the option of bank transfer or other mode of payment. However, it has provided a large range of cryptocurrencies to make it easier for traders to fund their accounts in the currency that they mostly use.
The following are the accepted cryptocurrencies for deposits and withdrawals:
- Gemini USD
- Litecoin, etc.
Hankotrade Deposit and Withdrawal Timings
Hankotrade is vigilant about its clients’ money. Thus, the broker ensures the safe and secure process of the deposits and withdrawals at its earliest. All the deposits at Hankotrade are credited into the client’s trading accounts on the same day, so the traders don’t have to wait for their accounts to be funded to begin trading.
Besides swift deposit processing, Hankotrade also prides itself on being one of the few brokers that instantly process withdrawal requests. The broker sends the requested withdrawal amount within a span of a few hours. Numerous traders have applauded Hankotrade for its commitment to fast, secure, and fee-free withdrawals in just 3 to 4 hours.
Hankotrade Proof of Withdrawals
Hankotrade’s customers shared the following screenshots of email update withdrawals. These images serve as huge evidence of Hankotrade’s legitimacy and credibility as a reliable trading broker in the market.
Hankotrade Testimonials from Trading Community
Reading reviews is one of the best ways to check the performance and services delivered by any brokerage house. A broker’s existing clients can paint an honest and unbiased picture of the broker’s services and efficiency.
We have picked up a few testimonials from some credible forums for you to take a look at the positive words of the satisfied clients of Hankotrade.
Hankotrade Testimonials Slashdot
Hankotrade Testimonials BrokerXplorer
Hankotrade Testimonials Sitejabber
Hankotrade Testimonials BrokersView
Hankotrade Testimonials Forbino
Hankotrade Broker Review: Wrapping Up
Choosing a reliable and efficient brokerage can have a monumental effect on your trading career. Moreover, signing up with an incompetent broker, or worse, with a scam broker, can rip you off your money and land you in hot waters.
That is why it is crucial to always be on board with a broker that is reliable, reputable, and trusted by other trading community members. Hankotrade checks off all 3 of these departments. We would encourage you to visit the broker’s website, familiarize yourself with its terms and conditions, and get a taste of Hankotrade’s services by using its demo account.
If you feel 100% confident with Hankotrade, start your trading journey with them by opening a small STP or ECN account.