Forex traders always look for trading with brokers that suit their trading needs and preferences. FXTM and Hankotrade are online forex brokers that offer their trading services to traders and investors. FXTM is a highly regulated and trusted forex broker. It is regulated in one tier-1 jurisdictions, one tier-2 jurisdictions, and two 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 FXTM 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.
FXTM vs Hankotrade: In a Nutshell
FXTM
Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including ASIC, IIROC, FFAJ, MFSA, MAS, FCA, CFTC, NFA, BVI FSC. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services.
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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. The broker provides an ECN Plus account with low commissions. There are no extra fees for deposits or withdrawals. To learn more about HankoTrade, you can read our review of it.
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FXTM vs : Hankotrade Features
FXTM
- Trading Instruments: FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
- Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Minimum Deposit. 100 Euros, US dollars or British pounds
- Account Types: Two (Advantage and Advantage Plus
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.
- PAMM/ MAM: Allowed
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Hankotrade
- 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
- Trading Style Allowed: All include 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
FXTM vs Hankotrade: Pros and Cons
FXTM Pros & Cons
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Hankotrade Pros & Cons
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FXTM vs Hankotrade: Side-by-Side Comparison
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FXTM Vs Hankotrade: Our Scores and Ratings
We rated both brokers, FXTM 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.
FXTM :
Hankotrade
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Final Verdict :
Both FXTM and Hankotrade offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. FXTM is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSC (Mauritius), CySEC , FSA-S, FSCA. On the other hand, Hankotrade is an unregulated offshore forex broker. FXTM provides Multiple trading platforms including MT4, MT5. On the Contrary, Hankotrade does not offer MT4/MT5. It uses only ActTrader as its trading platform.
As FXTM 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 FXTM, while US traders looking for offshore forex brokers may consider Hankotrade. Trading with offshore forex brokers is risky and not recommended.
