What is Hankotrade?
Hankotrade is a Seychelles-registered Forex, CFD, and cryptocurrency broker. It was founded in 2018 by a respectable group of traders having trading experience in various world markets. Hankotrade’s primary goal is to give institutional and retail clients a distinctive trading experience to help them make a successful trading career.
Let’s take a deeper look at the offerings of this broker.
Hankotrade offers 62 major and minor currency pairs, 3 cryptocurrencies, 11 international stocks, precious metals, and 2 energy products to trade in.
Fees and Commission
The STP trading account’s spread begins at 0.7 pip. The spreads in ECN and ECN Plus accounts are as low as 0.0 pip. Hankotrade is one of the few lowest-spread Forex brokers in the market.
Hankotrade doesn’t impose any charges on STP accounts. Every $100k traded on the ECN account costs $2 per side; for every $100k traded on the ECN Plus account, it charges $1 per side. The rate of commission is significantly lower than other brokers in the market.
Leverage Offered on Trading Accounts
Hankotrade offers considerable leverage of 1:500 on all of its trading accounts.
The broker offers 4 different types of trading accounts to its clients
- STP Account
Hankotrade’s first account type is STP. This account’s primary benefit is that there are no commissions to pay. Traders need to deposit at least $10 to open this account. The spreads for this account start at 0.7 pip. This account has a leverage ratio of 1:500.
- ECN Account
Hankotrade’s website states that its traders frequently choose this account. In this account, there are no spreads and a $2 commission per side for every $100k in trades. Additionally, traders have access to a 1:500 leverage. This account must be opened with at least $100.
- ECN Plus
All the benefits of an ECN account are available with ECN Plus. On this account, the commission is a mere $1 per side for every $100k exchanged. The minimum requirement to open this account is $1,000.
- Islamic Swap Free Account
Hankotrade offers swap-free Islamic trading accounts to its Muslim clients. The rollover interest on a trader’s overnight positions is not applied to this account. Muslim traders can take advantage of the trading account’s benefits without worrying about swap commissions.
Account Opening Procedure
Hankotrade’s account opening process is simple and quick. The Register option is located on the homepage of the broker’s website, which you can access. After clicking it, a registration form will be displayed for you to complete.
After completing the form and accepting the terms and conditions, you will be given instructions on depositing money into your account. Hankotrade only accepts cryptocurrency deposits. Your account will become operational after the deposit, and you can begin trading the same day.
Hankotrade provides its customers access to MetaTrader 4 and MetaTrader 5, two popular trading platforms. Among traders’ preferred trading platforms, MT4 is one of the safest, most dependable, and most widely used. In addition, the traders can use MT5, which has enhanced capabilities and promptly executes trades without lagging.
These trading platforms have web, desktop, and mobile applications that traders may use to stay connected to the trading market on any device.
Bonuses and Referral Programs
Clients of Hankotrade have two options for earning commissions and bonuses on their trading accounts.
- 100% Bonus
The 100% bonus offer from Hankotrade enables traders to increase their account margin. By depositing at least $100 into their trading accounts, traders can take advantage of this special offer. Hankotrade will provide an additional margin to the trader’s trading accounts in an amount equal to the deposit made by the trader.
Customers can leverage their accounts and boost their trading capital through this offer. As a result, traders will generally have a better trading experience.
You can visit the following link to learn more about the 100% Bonus: https://hankotrade.com/100bonus
- Introducing Broker
Hankotrade has a referral program called Introducing Broker that pays traders for introducing the broker to their acquaintances and social network.
By signing up for this program, traders can earn a bonus profit when someone they suggested initiates and gains from a transaction. Hankotrade has a high referral commission rate compared to other brokers on the market. It provides 40% of the entire commission paid to reference clients.
Hankotrade can be contacted through the following channels by both prospective and current clients:
- Contact Form
If visitors have questions, they can go to the Contact Us page and fill out the form. They can explain their problems, provide contact information, and submit the form. Hankotrade’s customer service representative will look into the issue and get back to you.
- Live Chat Option
Live chat is yet another primary method of communication with the customer service representative. This alternative saves time and gives individuals fast solutions and replies.
Is Hankotrade the Right Choice of Broker for Beginner Traders?
Hankotrade opens accounts with minimal requirements and a small deposit of $10. Thus, making it easy for new traders to enter the market without investing huge sums. Moreover, its tight spreads and low commissions make it
an advantageous choice of broker for new traders.
Hankotrade Client Reviews 2023
Hankotrade has earned plenty of appreciation and positive Forex broker reviews on multiple credible websites and forums. The broker has an excellent 4.8-star rating on Trustpilot.com and hundreds of reviews.
Moreover, traders have shared their positive experiences with Hankotrade on Forex Peace Army, Fx-List, MyFxBook.com, etc.
Here are a few of the top testimonials of the clients:
Hankotrade Review 2023: The Final Verdict
Since 2018, Hankotrade has been providing its services to the industry. Despite having less expertise than other brokers on the market, it is still an excellent option for novice traders looking to enter the Forex trading industry.
Opening an account with Hankotrade requires a small and affordable minimum deposit. Its spreads and commissions are likewise affordable and competitive in the business.
After a closer look at its features and client testimonials, we can conclude that Hankotrade is a good option for traders. The broker provides a range of trading instruments, bonuses, and commissions to make trading more enjoyable.
Discover Hankotrade and its account options by visiting its website and social media accounts. Or you can email them with your questions listed in it, and they will respond with answers.
Before signing up, read Hankotrade’s terms and conditions, frequently asked questions, and other regulations.