Today’s Hankotrade broker review provides a detailed analysis of Hankotrade and its services to help you determine if Hankotrade is the best forex broker for you in 2023.
Hankotrade is a Seychelles-registered Forex, CFD, and cryptocurrency broker. It was founded in 2018 by a respectable group of investors. Hankotrade’s primary goal is to give institutional and individual clients a distinctive trading experience.
Which Trading Tools Does Hankotrade Provide?
Hankotrade provides the following trading instruments:
- More than 60 different currencies, including both major and minor pairs
- Commodities like gold and silver,
- Energy resources, which include UK oil and WTI,
- 11 leading international stock indices,
- and cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
How Many Account Types Does Hankotrade Offer?
Hankotrade offers five types of accounts. The details of each account are enlisted below:
- STP Account
The STP Account from Hankotrade is made to assist investors and traders in making wiser trading choices. Customers can use this account to access features like lower commission costs than other brokers, direct market access to various liquidity providers, and competitive execution speed.
STP 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 on this account start at 0.7 pip and provide leverage of 1:500.
ECN accounts are popular amongst beginner and intermediate traders. This account gives customers access to some of the largest markets in the world while also providing unmatched order execution speeds and customer support.
Hankotrade’s website states that its traders frequently choose this account. The spreads start from 0.0 pips, making Hankotrade one of the zero-spread Forex brokers. Moreover, the commission charged on this account is $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
The ECN Plus account is similar to the ECN account except for the commission charges and minimum deposit requirement. The spreads on this account begin from 0.0 pips, and the commission charged is just $1 per side per $100K traded. These nominal commission charges undoubtedly make Hankotrade the lowest commission broker for beginner traders.
The minimum amount required to open this account is $1,000. Furthermore, the traders can enjoy the leverage of 1:500.
- Islamic Swap-Free Account
Hankotrade understands that its Muslim clients are prohibited by Sharia law from paying interest on overnight positions. Thus, the broker offers an Islamic account free of swap to accommodate them.
Muslim traders can enjoy all the other benefits of the trading account without worrying about the swap.
- Demo Account
Hankotrade also provides a demo account to its potential and existing clients. The primary purpose of the demo account is to allow the traders to practice and test their strategies before risking their money in the live trading account.
Traders can open this account by simply registering with the broker.
Which Trading Platform Does Hankotrade Provide?
Hankotrade provides its customers access to MetaTrader 4 and MetaTrader 5, two popular trading platforms. MT4 is one of the most secure, dependable, and widely used trading platforms among traders. In addition, the traders can use MT5, which has enhanced capabilities and promptly executes trades without lagging.
Traders can use web, desktop, and mobile versions of these trading platforms and keep themselves connected with the trading market on every device.
How to Open an Account with Hankotrade?
Hankotrade’s account opening procedure is simple and quick, taking only a few minutes. On the homepage of the broker’s website, traders can find the Register option. When the button is clicked, a registration form requesting the trader’s basic information—such as name, email address, contact information, etc.–appears.
An OTP verification code will be emailed to your email address when you fill out the form and accept the broker’s terms and conditions. After verifying their email address, traders can select their preferred account type and deposit funds into their accounts.
One of the best things about Hankotrade’s account opening process is that it hardly takes a few minutes. The broker doesn’t present multiple forms or ask hundreds of questions to open your account.
Is It Safe to Trade with Hankotrade?
Many new traders are skeptical about signing up with an unknown broker. This is because of the surge of online scams and frauds. Hankotrade has been serving clients since 2018 and has gained significant recognition and appreciation in the trading community.
Numerous authentic platforms have shared Hankotrade broker reviews and recommended its audience to visit its website.
The following video covers everything about Hankotrade, from its account types, 100 sign-up bonus, live trading, depositing and withdrawing funds into the account, etc. This video will clear up all your doubts and apprehensions about Hankotrade.
Does Hankotrade Provide Trading Tools and Educational Material?
Hankotrade provides its traders with three fantastic trading tools, which include:
- An economic calendar that highlights the important dates and events that are most likely to influence the market. Traders can review the calendar to open or close their positions strategically.
- The second tool that Hankotrade offers is an FX calculator. The broker’s website displays four calculators to convert currencies and calculate spreads and commissions.
- Hankotrade also gives access to a Virtual Private Server, which improves the speed of trades, prevents slippage, and keeps the trader connected to the market in case of a power breakdown.
Hankotrade doesn’t have educational resources like eBooks, blogs, or videos to contribute to traders’ learning. However, the broker has an Instagram account where it posts valuable information to update their audience about upcoming market trends or risks.
Conclusion: Is Hankotrade the Right Choice of Broker for You?
Hankotrade is one of the market’s zero-spread and lowest commission Forex brokers. It offers various trading instruments and account types to cater to every trader’s needs.
The minimum deposit requirement of Hankotrade is affordable for beginner traders. They don’t have to drain their budget to open a trading account. Moreover, the positive Hankotrade broker review on multiple platforms vouch for its credibility and reliability. If you are interested in signing up with Hankotrade, visit its website and connect with the customer care team to get answers to your questions and queries.