There are numerous forex and CFD brokers in the world. Among them, some brokers are regulated, and some are not. Each broker has its own strengths and weaknesses. Forex traders always want to trade with suitable brokers that suit their trading style and preferences. If you are a forex trader looking to trade with an offshore forex broker, you may come across Hankotrade. However, is Hankotrade regulated?
Hankotrade is an offshore forex broker that offers forex, CFD, and Crypto CFD trading facilities. It allows traders to trade with STP, ECN, and swap-free trading accounts. In this blog post, we will explore the regulatory status, pros and cons, and alternatives of Hankotrade
Is Hankotrade Regulated?
No, Hankotrade is not regulated by any regulatory authority. It is an unregulated offshore forex broker. Many traders wish to unregulated offshore forex brokers to enjoy restriction-free trading (Forex, CFD, Indices) with high leverage and low spread.
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
Pros and Cons of Hankotrade
Hankotrade is an unauthorized forex broker. Still, many traders settle for Hankotrade for high leverage and restriction-free trading options. Here are the pros and cons of Hankotrade
- 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.
- 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
Alternatives of Hankotrade
Hankotrade is a popular offshore forex broker. However, other brokers can serve as alternatives to Hankotrade. Some of the alternatives are regulated by top tire regulators. These alternative brokers include
- Etoro: Best for Social Trading
- Oanda: Regulated Forex Brokers for US Traders
- LMFX: Best offshore forex broker that offers Forex, CFD Trading
- Pepperstone: Best all-around Forex Brokers for non-US Traders
Frequently Asked Questions ( FAQs)
What is Hankotrade?
Founded in 2018, Hankotrade is an offshore forex broker. It offers forex, CFD, and Crypto trading facilities to traders worldwide.Â
What is Forex Broker Regulation?
Forex broker regulation refers to the comprehensive set of rules and laws established by regulatory authorities to govern the operations of firms within the forex industry. These regulations are designed to ensure transparency, fairness, and integrity in the forex market, protecting the interests of traders and investors. Regulatory bodies impose various requirements on forex brokers, including capital adequacy, segregation of client funds, risk management protocols, and compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations
Is Hankotrade an ECN Forex Broker?
Yes, Hankotrade operates as an Electronic Communication Network (ECN) forex broker, providing direct access to liquidity providers and offering competitive pricing and execution.
Is Hankotrade a Safe Broker?
Hankotrade has been providing services for a long period. However, the broker is not regulated by any regulatory authority. As a result, trading with Hankotrade involves inherent risks due to the lack of regulatory oversight. Traders should carefully consider these risks before engaging with the platform.
Is Hankotrade Regulated in the USA?
No, Hankotrade is not regulated in the USA. It is not regulated by any regulatory authorities.
Is Hankotrade Regulated in the UK?
No, Hankotrade is not regulated in the UK. The brokers of the UK are usually regulated by FCA, and Hankotrade is not regulated by this regulatory authority.
Is Hankotrade Regulated in Canada?
No, Hankotrade is not regulated in Canada.
Final Thoughts :
Hankotrade is an unregulated forex broker that offers forex, CFDs, and Crypto. Currently, it offers an ActTrader trading platform.
Since it is an offshore forex broker, it can onboard clients from anywhere in the world. The broker allows traders to trade with any style including scalping, hedging, EA Trading, news trading, and so on.
Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with unregulated brokers puts your funds at higher risks
