Hankotrade and NextTrade are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review Hankotrade and NextTrade by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
Hankotrade vs NextTrade: In a Nutshell
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
NextTrade
Founded in 2020, NextTrade is an online forex and CFD broker. It is an offshore forex broker that offers 138 forex pairs, stocks, indices, commodities, and cryptocurrency services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of NextTrade is as high as 1:500.
NextTrade at a Glance
- Founded Year: 2020
- Headquarters: Stamford Hill, Durban Kwa-Zulu Natal 4001.
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: TradeLocker,MT5
- Account Types: Standard ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Bitcoin (BTC),Ethereum (ETH),Litecoin (LTC),Ripple (XRP),Dogecoin (DOGE), Tether (USDT) (TRC-20),USD Coin (USDC) (BEP-20/TRC-20),Credit Card or Bank Transfer
- US Traders: Accepted
Hankotrade vs NextTrade: Side By Side Comparison
Hankotrade vs NextTrade: Pros and Cons
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
NextTrade Pros & Cons
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:500
- The maximum lot size is as high as 1000 lot
- Spread starting from 0.4 pips
- Offers MT5, Tradelocker trading platforms
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Nexttrade Accepts Crypto Deposits
Cons:
- Offshore Forex Broker
- Limited deposit and withdrawal methods
- Only MT5, Tradelocker is available ( No MT4 or other trading platforms)
Final Thoughts:
Hankotrade and NextTrade are unregulated offshore forex and CFD brokers. They offer similar trading services, allowing scalping, hedging, EA trading, and copy trading EA. The minimum order size for both is 0.01.
However, there are a few areas where you may find differences. For example, Hankotrade does not support the MetaTrader (MT4/MT5) trading platforms; instead, it uses the Hankox trading platform. On the other hand, NextTrade supports MT5 and TradeLocker trading platforms. The minimum deposit for Hankotrade is $10, whereas the minimum deposit for NextTrade is $10. Additionally, the maximum leverage for Hankotrade is 500:1, while the maximum leverage for NextTrade is 500:1.
Our score for Hankotrade is 4, and for NextTrade, it is 4.5. If you are looking for a high-leverage offshore broker with the MT5 and TradeLocker trading platforms, you may choose NextTrade. However, if you prefer not to use MT4/MT5 you may choose Hankotrade.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
