HankoTrade Review

HankoTrade is a brokerage firm that offers trading services on the popular MT4 and MT5 platforms. With a history dating back to the 1980s, the company has a team of experienced traders operating in global financial markets, including Asia and North America. In this expert review, we will delve into HankoTrade’s features, pricing and commissions, pros and cons, and summarize its offerings.

HankoTrade’s regulatory status may vary by region. It’s crucial for traders to verify the broker’s regulatory status in their jurisdiction.

HankoTrade offers competitive spreads, which start as low as 0.7 pips on standard accounts, offering favorable trading conditions for its clients.

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HankoTrade Review

HankoTrade provides traders with a choice of three account types: STP, ECN, and ECN Plus. Standard account spreads start from a competitive 0.7 pips, and ECN accounts can offer zero spreads under favorable market conditions.

Traders, both professional and retail, can access leverage of up to 1:500, with primary account currencies in USD, EUR, and CAD.

The broker is transparent in its operations, with detailed information about trading conditions, fees, and partnership policies available on its website. Their 24/7 customer support team is responsive and aims to resolve client inquiries promptly.

Pricing and Commissions

HankoTrade distinguishes itself by offering favorable pricing and commissions. While STP accounts have spreads starting at $7, ECN and ECN Plus accounts can provide spreads from $0, subject to market conditions. ECN accounts incur a commission of $2 per lot, while ECN Plus accounts charge $1 per lot.

The broker does not impose non-trading fees, and traders have access to Islamic accounts without swaps.

Pros:

1. Competitive Spreads: HankoTrade offers tight spreads, starting as low as 0.7 pips on standard accounts, making it attractive for traders.
2. Negative Balance Protection: The broker provides protection against negative balances, ensuring clients’ accounts don’t go into debt.
3. Segregated Funds: Client funds are held in separate accounts, enhancing asset security.
4. Free Deposits and Withdrawals: Deposits and withdrawals do not incur fees.
5. Fast Execution: The trading platform operates swiftly, ensuring efficient order execution.
6. Real-time Spread Updates: Spreads change in real-time, giving traders up-to-the-minute information.

Cons:

1. Cryptocurrency Only Withdrawals: Withdrawals are possible only in cryptocurrencies, which may not be convenient for all traders.
2. Verification for Large Withdrawals: Verification is required for withdrawals over $5,000.
3. Lack of Educational Resources: HankoTrade’s website lacks a dedicated educational section, offering limited resources for traders looking to learn.
4. Regulatory Oversight: The broker operates without the oversight of financial regulators, which may raise concerns for some investors.

HankoTrade Verdict

HankoTrade is a brokerage firm offering a range of trading accounts with competitive spreads, leverage options, and robust customer support. Its transparent fee structure and commitment to protecting client funds make it an attractive option for traders. However, the absence of regulatory oversight and limited educational resources may be drawbacks for some users. It caters to both novice and experienced traders, with a variety of account types to choose from. Traders looking for favorable trading conditions and responsive customer support may find HankoTrade to be a suitable choice.

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Frequently Asked Questions (FAQ) about HankoTrade

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Real Customers Reviews

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