Hankotrade Review 2024: Features, Pros, Cons, and More!

Hankotrade is a forex and CFD broker that provides online trading services globally. It is an offshore forex broker located in Dubai, United Arab Emirates. The broker offers a wide range of trading instruments including FD Indices, Commodities, and Crypto, currencies. Being an unregulated forex broker enables Hankotrade to offer high leverage and unrestricted trading, which are often restricted in many regulated markets. However, the lack of regulation also exposes traders to potential risks. Despite this, many traders opt for Hankotrade due to its competitive trading condition, high leverage, and lower minimum deposit. 

In this content, we will analyze and review Hankotrade, exploring its features, pros, and cons. We will also answer the most common questions people ask about Hankotrade. By reading this review, you will gain a better understanding of whether Hankotrade is the right broker for your trading needs and preferences.

What is Hankotrade?

Founded in 2020, Hankotrade is an online forex and CFD broker. It is an offshore forex broker that offers Cryptocurrencies, indices, and commodities trading services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Hankotrade is as high as 1:500. What makes Hankotrade stand out among unregulated brokers is its ECN Plus account with low commissions. There are no restrictions on strategies and no deposit and withdrawal fees. Traders are rewarded with bonuses too.

Key Features:

• Trading Instruments: FD Indices, Commodities and Crypto, currencies
• Trading Platforms: Mt4, Web Trading, Mobile
• Minimum Deposit:  $10
• Maximum Leverage: 1:500
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.7 pips for the STP account, No Commission for the ECN account, and $2 for the ECN Plus account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction Hankorade):  USD, EUR, CAD
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, News trading,  and EA Trading. 
• PAMM/ MAM:  Available 
• Stop Out Level (retail): 50%
• Margin Call Level: 70% 
• Negative balance Protection: Yes 
• Investor Protection:  No investor protection is Available. 
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 

Hankotrade Pros and Cons

Pros:

• Maximum Leverage is as high as 1:500
• Faster Trade Execution with ECN/STP Model
• Low Minimum Deposit ($10)  
• Tight spreads starting from just 0.0 pips
• Multiple account types including Islamic, STP, ECN, and ECN Plus accounts.
• PAMM/MAM accounts are available for interested investors and fund managers.
• Tools like the Economic Calendar, trading calculators, and VPS are provided.
• Demo accounts are available for testing trading strategies. 
• Overall Very Low Trading Fees 
• Crypto Deposits and Withdrawals available
• Due to the absence of regulatory restrictions, the broker is open to clients worldwide
• Allows Scalping, News trading, EA Trading, and FIFO Trading. 

Cons:

• The Broker is not regulated 
• Only crypto deposits and withdrawals are available 
• Lack of Educational Resources 
• No Investor Protection Scheme 
• No Telephone Service Line 
• Limited Educational Resources 
•  NO Ctrader trading platforms 

Our Ratings for Hankotrade:

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

Hankotrade Ratings and Reviews from Trustpilot:

Hankotrade has earned a rating of 4.5 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

Hankotrade Ratings and Reviews from Forex Peace Army:

Hankotrade has achieved an average rating of 2.38 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Frequently Asked Questions

Is Hankotrade a Legit Broker?

Hankotrade is considered a good offshore forex broker and is registered in Dubai, United Arab Emirates. The broker offers a variety of trading instruments including FD Indices, Commodities, and Crypto, currencies. However, the broker is not regulated or authorized by any regulatory authority. Due to this lack of regulation and the absence of available financial information, we do not recommend trading with Hankotrade.

Is Hankotrade regulated?

No, Hankotrade is not a regulated broker. It is an unregulated offshore forex broker which offers restriction-free trading facilities. 

Does Hankotrade Offer CFD Trading?

Yes, Hankotrade offers CFD trading. CFD is a form of derivative trading that allows traders to speculate on the price movements of various financial instruments such as stocks, commodities, indices, and currencies, without actually owning the underlying asset. Hankotrade provides a variety of trading CFD instruments including FD Indices, Commodities, and Crypto, currencies.

Where is Hankotrade Located?

Hankotrade is located in Dubai, United Arab Emirates. Dubai, United Arab Emirates. is the home of many offshore forex brokers. 

Does Hankotrade require KYC Verification?

Yes, Hankotrade requires KYC (Know Your Customer) verification. This process involves verifying the identity of its clients to comply with brokers’ requirements and ensure the security of the trading environment. Typically, this includes providing identification documents such as a passport or driver’s license, and proof of address, such as a utility bill or bank statement

Does Hankotrade payout?

Yes, Hankotrade does payout to its clients. Traders can withdraw their funds from Hankotrade using cryptocurrencies only. Payouts are processed within 24 hours. Once processed, it can take 1-6 hours, or as soon as there are 3-6 confirmations on the blockchain before the funds will be available in your crypto wallet

Is Hankotrade an ECN broker?

Yes, Hankotrade is an ECN forex broker. The broker offers the ECN account and the ECN Plus account as ECN Accounts. 

What is the minimum deposit for Hankotrade?

The minimum deposit for Hankotrade is $10. However, the required minimum deposit varies based on the account type. For example, the STP account requires a minimum deposit of $10, the ECN account also requires $100, and ECN Plus account requires $1000.

Conclusion

Hankotrade is an offshore forex and CFD broker that offers online trading services to traders and investors worldwide. The broker provides a wide range of trading instruments, including FD Indices, Commodities and Crypto, currencies. The broker’s spreads start from as low as 0.0 pips. Hankotrade offers high leverage (as high as 1:500 ) and a low minimum deposit (as low as $10). The restriction-free trading facilities, such as CFD trading, lower minimum deposit, and higher leverage, make Hankotrade a good choice for many traders.

However, the broker is not regulated by any regulatory authorities. Therefore, do your research and ensure you are comfortable with this. We only recommend brokers regulated by the relevant financial authorities.