Forex traders always look for trading with brokers that suit their trading needs and preferences. BlackBull Markets and Hankotrade are online forex brokers that offer their trading services to traders and investors. BlackBull Markets is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, and one tier-4 jurisdictions. On the other hand, Hankotrade is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by BlackBull Markets and Hankotrade. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
BlackBull Markets vs Hankotrade: In a Nutshell
BlackBull Markets
Founded in 2014 in Auckland, New Zealand by Michael Walker and Selwyn Loekman, BlackBull Markets is a forex and CFD broker that enables the trading of over 26,000 instruments, including forex, CFDs, real stocks, and ETFs. The available platforms are MT4, MT5, TradingView, cTrader, BlackBull Shares, and BlackBull Trade. Social trading is facilitated through BlackBull CopyTrader and ZuluTrade. Trading tools such as free VPS and Autochartist are provided.
Blackbull Markets Overview
- Founded In: 2014
- Founder: Michael Walker and Selwyn Loekman
- Trading Instruments: 26000+ trading instruments including Forex, Equities, Commodities (Energies, agriculture, and Metals), Futures, Indices
- Minimum Deposit: between $0 and $20,000 ( $0 for Standard, $2000 for Prime, $20,000 for Institutional Accounts)
- Maximum Leverage: upto 1:500
- Regulations: FMA ,FSA
- Trading platform: MT4,MT5, Ctrader, Tradingview
- Trading Tools: Trading Tools: VPS, Zulutrade, Myfxbook, Calculators,
- Trading Fees: starting from 0.8 pips spreads for Standard account, 0.1 pips spread+$4 per lot for Price account, Spreads 0.0 + $4 per lot for Institutional Account.
- Account Types: Standard, Prime, Institutional
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, FasaPay, Neteller, Skrill, UnionPay
- US Traders: Not Accepted
Hankotrade
What makes Hankotrade stand out among unregulated brokers is its ECN Plus account with low commissions and trading on the MetaTrader platforms; MT4 and MT5. There are no restrictions on strategies and no deposit and withdrawal fees. Traders are rewarded with bonuses.
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
BlackBull Markets vs : Hankotrade Features
BlackBull Markets
- Trading Instruments: 26000+ trading instruments in 80 markets including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs,
- Maximum leverage: up to 1:500
- Minimum Deposit: $0 for standard, $2000 for Prime, $20,000 for Institutional account
- Account Types: Offers 3 account types including ECN standard, ECN Prime, and ECN institutional.
- Fees: starting from 0.8 pips for a standard account, (0.1 pips + $6) per lot for an ECN Prime Account, and (0.0 Pips +$4) for an Institutional account.
- PAMM/ MAM: Yes,
- Zulutrade: Yes
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Hankotrade
- Trading Instruments: FD Indices, currencies Commodities, and Crypto
- Maximum leverage: 500:1
- Minimum Deposit: $10
- Account Types: Three (STP, ECN, ECN Plus)
- Trading Fees: Spread starting from 0.7 pips or commission $2
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
BlackBull Markets vs Hankotrade: Side By Side Comparison
BlackBull Markets vs Hankotrade: Pros and Cons
BlackBull Markets Pros & Cons
- Regulated by FMA, FSPR, FSP, FSA-S
- Founded in New Zealand and operating globally
- Professional and Retail Trading options
- No Minimum Deposit Requirement ($0)
- The Maximum Leverage is as high as 1:500
- Allow Scalping, News Trading, EA/Robot Trading
- Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
- Supports multiple third-party copy trading platforms, such as ZuluTrade, Duplitrade, and Myfxbook.
- BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
- $2,000 minimum deposit for Prime Account
- The Ctrader platform is not offered
- Withdrawal fees
- Limited Research Tools
- Not very diverse range of tradable assets
Hankotrade Pros & Cons
- 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
BlackBull Markets Vs Hankotrade: Our Scores and Ratings
We rated both brokers, BlackBull Markets and Hankotrade, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
BlackBull Markets:
Hankotrade
Final Verdict :
Both BlackBull Markets and Hankotrade offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. BlackBull Markets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FMA, FSA -S, and FSPR. On the other hand, Hankotrade is an unregulated offshore forex broker. BlackBull Markets provides Multiple trading platforms including TradingView, cTrader, MetaTrader 5,MetaTrader 4, MetaTrader Web Trader,BlackBull CopyTrader,BlackBull Shares,BlackBull Trade. On the Contrary, Hankotrade does not offer MT4/MT5. It uses only ActTrader as its trading platform.
As BlackBull Markets is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, Hankotrade can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for BlackBull Markets, while US traders looking for offshore forex brokers may consider Hankotrade. Trading with offshore forex brokers is risky and not recommended.
