In this Hankotrade review, we explain why you should trade with Hankotrade in 2023 to get mind-blowing results.
The advent of the internet has opened myriad gates of opportunities for us. Over the past few years, the world has seen a surge in various online jobs which never existed in previous decades. Similarly, Forex trading has become a lucrative side hustle for many individuals. The ease of entry and good money-making opportunities tempts the enthusiasts towards it.
Forex trading can become a smooth experience if you have the right broker. In contrast, an incompetent broker can ruin your trading experience and might even hurt your capital. That’s why new traders are always advised to select the best broker for entering the market.
Today we will conduct an in-depth review of Hankotrade. We will talk about its features, account types, commission, and what its clients say about it. After discussing everything, we will also share our unbiased opinion if Hankotrade is the right choice of broker for you.
So, let’s get started:
Hankotrade Broker
Hankotrade is a team of experienced traders with a remarkable winning record. That’s why the creators and managers of Hankotrade understand what traders need while trading in the most volatile money market in the world.
Their excellent features, various account types, low spreads, and commissions make it an ideal choice for many passionate traders and investors.
Hankotrade’s Main Features
The following are the top features offered by Hankotrade to its clients:
Low Spreads
The first attractive feature of Hankotrade is its minimum spread, which starts from 0.0 pips. Many experienced traders and Forex gurus recommend beginner traders sign up with a broker that offers minimum spreads on their trading accounts.
One of the significant advantages of low spreads is that a trader can quickly enter or leave their position without any extra expenses. The following image shows the spreads of Hankotrade; you can see that their spreads are 0, making it easier for their clients to trade without incurring additional costs.
Low Commission
It is a bitter moment for traders when brokers charge a considerable percentage of their earnings as commission. Let’s be honest here; nobody likes to give away their profit to a broker. Now, finding a broker that doesn’t charge any commission is impossible. However, some brokers like Hankotrade charge a nominal amount for their services.
You would be surprised to learn that Hankotrade charges $0 on its STP account. It charges only $2 per side per $100k traded on an ECN account.
Minimum Account Opening Requirement
The minimum requirement to open an account with Hankotrade is $10. You don’t need the fortune to start Forex trading; with Hankotrade, you can start small and gradually increase your investment.
Quick Customer Service
Most Forex brokers are online and have no physical dealing desk. Many traders complain about brokers not answering their questions when they are in dire need of help. Hankotrade promptly responds to clients’ queries via email, live chat, phone calls, or Skype.
Maximum Leverage
Pro traders love brokers who offer maximum leverage on trading accounts. It allows them to open more significant positions than their available resources. Hankotrade offers a 1:500 leverage ratio, making it an attractive feature for seasoned Forex players.
Negative Balance Protection
Negative balance protection is life-saving for traders. It protects your account from going into negative balance even if the market moves swiftly against your trades.
Is It Difficult to Open an Account at Hankotrade?
At Hankotrade, the account opening process is pretty easy and quick. Traders can even start using their accounts on the same day. Hankotrade accepts customers from all over the world, with a few exceptions.
Visit Hankotrade’s website and navigate the registration page to open an account. Fill out the form and agree to the broker’s terms and conditions. After that, you need to select an account type, fund your account, and that’s it!
How Many Account Types Does Hankotrade Offer?
Hankotrade offers four types of trading accounts to choose from:
STP Account
STP is a micro trading account that can be opened with a small deposit of $10. The spreads on this account start from 0.7 pips with zero commission. The leverage provided on this account is 1:500.
This account is ideal for beginner traders who want to get started with Forex trading.
ECN Account
The minimum deposit required to open this account is $100. The spread starts from 0.0 pips with a commission as low as $2 per side per $100k traded. The leverage provided on this account is the same as the STP account.
ECN account is again an excellent option for small to medium-scale Forex traders.
ECN Plus
ECN Plus is a popular choice amongst experienced Forex traders. The deposit requirement for this account is $1,000, with spreads starting from 0.0 pips. The commission charged on this account is $1 per side per $100k traded. Traders can also enjoy a good leverage of 1:500 on their trading accounts.
Islamic Account
Hankotrade also provides swap-free trading accounts for Muslim traders.
How Can You Deposit Money at Hankotrade?
Traders can deposit money in their trading accounts with cryptocurrencies. Hankotrade offers Bitcoin, Litecoin, Ethereum, True USD, USDC, Bitcoin Cash, Dogecoin, and Tether.
Does Hankotrade Charge a Withdrawal Fee?
Hankotrade is one of the few brokers in the market that follows a zero fees policy for its clients on deposits and withdrawals. This means you can easily withdraw your money from your account without any deductions or fees.
Furthermore, Hankotrade processes all withdrawal requests within one working day. Hankotrade transfers the payments through the same method that traders used to fund their account. However, if a client requests, Hankotrade can send the money via other modes under the trader’s name.
Hankotrade Client Testimonials 2023
Hankotrade has been in the market since 2018 and has helped many traders to get started with their trading careers. Look at the following testimonials from various credible and authentic review posting forums. See for yourself what actual traders have to say about this broker.
Reviews on Trustpilot
Reviews on Forex Peace Army
Reviews on FX-List.com
There are plenty of other positive reviews from traders from all over the world. These reviews indicate that traders are satisfied with the services of this broker.
Is Hankotrade Safe to Trade with?
Selecting a broker is an important decision for many traders. Many traders get cold feet trusting the broker because of the fear of being scammed. By looking at the customer reviews above, it is safe to say that this broker is legit.
If you still need assurance, you can read the Hankotrade review on the reliable forum of theforexgeek.com
Hankotrade Broker Review Conclusion
Selecting the right and reliable broker is crucial to surviving in the market. That’s why, we recommend never making this vital decision in haste. Always read plenty of reviews, and visit the broker’s website and social handles to learn more about him.
If you are interested in signing up with Hankotrade, read its terms and conditions, policies, and other important details before you begin trading.
