Forex traders always look for brokers offering favorable trading conditions, affordable minimum deposits, and a trusted reputation within the trading community. Sometimes traders settle for offshore forex brokers to enjoy unrestricted free trading conditions. Hankotrade is an online offshore forex and CFD broker that offers a wide range of trading instruments, including Forex, CFDs Cryptos, and commodities.
If you consider using Hankotrade as your broker, you may be wondering about the minimum deposit requirements and deposit conditions of Hankotrade. In this guide, we will provide you with a comprehensive overview of Hankotrade’s minimum deposit requirements, deposit process, and other important information you need to know before you start your trading journey.
What is the minimum deposit for Hankotrade?
The minimum deposit for Hankotrade is between $10 and $1000. Hankotrade offers investors three different types of accounts. The brokers recommend minimum deposit based on account typesÂ
- STP account: $10
- ECN Account: $100
- ECN Plus Account: $1000
Hankotrade Overview
- Founded In: 2018
- Broker Type: ECN/STP
- Minimum Deposit: between $10 and $100: $10 for STP, $100 for ECN, and $1000 for ECN plus accounts
- Maximum Leverage: 1:500
- Account Types: 4 account types: STP, ECN, and ECN Plus, Islamic Accounts
- Trading Fees: STP account:0.7 Pips spread, ECN account: $2 for Standard lot/per side, and for ECN Plus account: $1 for standard lot/per side
- Regulations: None
- Trading platform: ActTrader (Web+Mobile)
- Payment Options: 8 methods (Bitcoin, Litecoin, Ethereum, True USD, USDC- Bitcoin Cash, Tether, Dogecoin)
- PAMM/ MAM Account: Available
- Bonus: 100% Deposit Bonus
- US Traders: Accepted
How to Fund Your Hankotrade Account: A step by Step Guide
Step 1: Log in to Your Hankotrade Account
To fund your Hankotrade account, you’ll first need to create your Hankotrade account or log in to your existing account. Open your preferred web browser and go to the official Hankotrade website. Then visit the login section. You will find it in the Menu bar. Enter your registered username and password in the provided fields and click on the “Log In” to access your account dashboard.
Step 2: Go to the Deposit Section
Once logged in, go to the deposit section within your Hankotrade account. This section is typically located in the main menu or sidebar of the platform. Look for options labeled as “Deposit,” “Funding,” or similar terms. Click on this section to proceed to the next step.
Step 3: Choose Deposit Methods
In the deposit section, you’ll find available deposit methods for funding your Hankotrade account. These methods may include direct Bitcoin deposit, Bitcoin via Instacoin, and wire transfer via Instacoin. Hankotrade currently does not offer any other deposit methods other than Bitcoin.
Step 4: Enter Payment Details
Once you’ve selected your preferred deposit method, you’ll need to enter the relevant payment details to start the transaction. Depending on the chosen method, this could involve entering your Bitcoin wallet address for direct Bitcoin deposits, following instructions provided by Instacoin for Bitcoin transactions, or providing bank details for wire transfers via Instacoin. Ensure that you accurately enter all required information to prevent any delays or errors in the funding process.
Step 5: Complete Process
After entering the necessary payment details, carefully review the information to ensure accuracy. Once satisfied, proceed to complete the deposit process by following the instructions provided on the platform. This may involve confirming the transaction, verifying any security measures, and completing the deposit. Upon successful completion, the funds should be credited to your Hankotrade trading account which allows you to start trading on the platform.
How to Withdraw Funds from Hankotrade
To withdraw funds from Hankotrade, follow these steps:
- Log in to your Hankotrade account.
- Go to the “Withdraw Funds” or “Withdrawal” section.
- Select your preferred withdrawal method (e.g., Bitcoin, wire transfer).
- Enter the amount you wish to withdraw.
- Follow any additional on-screen instructions for your chosen withdrawal method.
- Confirm the withdrawal request.
- Wait for the withdrawal to be processed by Hankotrade.
Frequently Asked Questions (FAQs)
What is Hankotrade?
Founded in 2018, Hankotrade is an online forex broker that offers trading services to traders worldwide. It enables traders to buy and sell a wide range of trading instruments, including forex, CFDs, Crypto CFDs, and commodity CFDs. Hankotrade is an offshore forex broker, with its headquarters located in Seychelles. Currently, the broker does not support Metatrader (MT4/MT5) trading platforms; instead, it uses ActTrader as its trading platform.
What is the Maximum Deposit of Hankotrade?
Hankotrade does not have a maximum deposit limit. You may deposit as much as you want.
What currency can I deposit into Hankotrade?
Hankotrade accepts only crypto deposits. You can deposit using 8 cryptocurrencies: Bitcoin, Litecoin, Ethereum, TrueUSD, USDC, Bitcoin Cash, Tether, and Dogecoin
What is the maximum leverage of Hankotrade?
The maximum leverage of Hankotrade is 500:1. This means that you can trade up to 500 times the equivalent amount of base currency you have in your account. However, the leverage of Hankotrade may vary based on equity and trading instruments. For example, the default leverage of forex pairs ranges from 10:1 to 500:1, while the maximum leverage of cryptocurrency is 5:1.
How much does it cost to deposit in Hankotrade?
Hankotrade does not charge any deposit fees. However, the blockchain network might charge a small fee.
What fees does Hankotrade charge?
Hankotrade does not charge any fees for deposits or withdrawals. However, the blockchain network might charge a small fee for confirming the transaction. The trading fees of Hankotrade vary with account types. The STP account is a zero-commission account. ECN account incurs a $2 per lot per side commission. ECNPlus account incurs a $1 per lot per side commission. The Islamic Account is a zero-commission and swap-free account
What is the Minimum trade size of Hankotrade?
The Minimum trade size of Hankotrade is 0.01. It is worth mentioning that one lot is a standard contract size in the currency market. It equals 100,000 units of a base currency, so 0.01 lots account for 1000 units of the base currency
How long does it take to deposit on Hankotrade?
Deposits are usually instant. However, sometimes it may take 1 to 3 hours, or when you have 3-6 Blockchain confirmations completed.
How much should I deposit in my Hankotrade account?
You may deposit any amount you want. If you are a beginner, you may start with as little as $100 or less. As you gain knowledge, you may deposit your desired amount and start trading.
What trading platform does Hankotrade use?
Hankotrade uses ActTrader trading platforms. Currently, the broker does not have MT4, MT5, or any other trading platforms.
Final Verdict:
Offshore forex brokers usually accept only crypto deposits and withdrawals. So it is always a challenge for traders to deposit on those platforms. Like other offshore brokers, Hankotrade also accepts only crypto deposits and withdrawals. You can deposit via 8 cryptocurrencies such as Bitcoin, Litecoin, Ethereum, TrueUSD, USDC, Bitcoin Cash, Tether, and Dogecoin. The broker does not charge any fees for fund deposits. Deposits are usually instant; but, sometimes it may take 1 to 3 hours or when you have 3-6 Blockchain confirmations completed.
If you are looking for offshore forex brokers for unrestricted trading facilities, Hankotrade can be a good option. However, offshore forex brokers are unregulated and unauthorized. Therefore, trading with these brokers always carries high risks.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers like Hankotrade puts your funds at higher risks
