Hankotrade and Zforex 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 Zforex 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 Zforex: In a Nutshell
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.
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
Zforex
Founded in 2022, ZForex is an online forex and CFD broker. It is an unregulated forex broker that offers 100 instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of ZForex is as high as 1:1000.
ZForex at a Glance
- Founded Year: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: No minimum Deposit (You may deposit as low as $1)
- Maximum Leverage: 1:1000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT5 (Desktop, Web, Mobile)
- Account Types: Micro, Standard, ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Perfect Money, Cryptocurrencies, Altcoins
- US Traders: Accepted
Hankotrade vs Zforex: Side By Side Comparison
Hankotrade vs zForex: Features
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
zForex
- Trading Instruments: Forex, Crypto, CFDs, Commodities
- Trading Platforms: Mt5, Metatrader Web App
- Minimum Deposit: $10
- Maximum Leverage: 1:1000
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 1.2 pips for the STD account or Commissions 10$ Forex, 15$ Metals per lot for the ECN account, and Swap free account.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket):10 Lots
- Funding Currencies: Bitcoin, Bitcoin Cash, Coinbase, Dogecoin (DOGE), Ether/Ethereum, Litecoin, Other Crypto Currencies, SticPay, Tether (USDT)
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 20%
- Margin Call Level: 100%
- 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
Hankotrade vs Zforex: 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
Zforex Pros & Cons
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:1000
- The maximum lot size is as high as 1000 lot
- Low commission trading commission is only $2 per 100K trading.
- Offers MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- ZForex Accepts Crypto Deposits
Cons:
- Offshore Forex Broker
- Limited deposit and withdrawal methods
- Unregulated Forex broker
- Only MT5 is available ( No MT4 or other trading platforms)
Final Thoughts:
Hankotrade and Zforex 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, Zforex supports MetaTrader (MT5) trading platforms. The minimum deposit for Hankotrade is $10, whereas the minimum deposit for Zforex is $10. Additionally, the maximum leverage for Hankotrade is 500:1, while the maximum leverage for Zforex is 1000:1.
Our score for Hankotrade is 4, and for Zforex, it is 4.1. If you are looking for a high-leverage offshore broker with the MT5 trading platforms, you may choose Zforex. 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
