Moneta Markets vs Hankotrade | Compare Features, Safety & More (2024)

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Forex traders always look for trading with brokers that suit their trading needs and preferences. Moneta Markets and Hankotrade are online forex brokers that offer their trading services to traders and investors. Moneta Markets is a highly regulated and trusted forex broker. It is regulated in one tier-2 jurisdiction. 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 Moneta 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.

Moneta Markets vs Hankotrade: In a Nutshell

Moneta Markets

Founded in 2020, Moneta Markets is a new broker but was founded by experienced experts. Traders can enjoy ECN trading of over 1,000 forex and CFD instruments on its MetaTrader platforms, proprietary app trader as well as on the PRO TRADER; powered by TradingView. Social trading is via the Moneta CopyTrader app. Its ultra ECN account comes with tight spreads and commissions as low as $1/lot. To learn more, you may read our review about Moneta Markets.

Moneta Markets Overview

Moneta Markets Overview
  • Founded In: 2009
  • Founder: David Bily
  • Headquarters: South Africa
  • Minimum Deposit: $50
  • Maximum Leverage: 1000:1
  • Regulations:FSP , FSCA
  • Trading platform:RO TRADER ,APP TRADER ,Mt4,Mt 5,METATRADER APP,MT4,WEBTRADER,COPYTRADER APP
  • Account Types: Direct, Prime, Ultra
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, JCB, SticPay
  • 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

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 

Moneta Markets vs: Hankotrade Features

Moneta Markets

  • Trading Instruments: 1000+ Trading instruments including forex, indices, commodities, share CFDs, Crypto CFDs, Bonds, and ETFs 
  • Maximum leverage: Maximum Leverage is as high as 1000:1 
  • Minimum Deposit: $50 for Direct and Prime Account, $20000 for Ultra Account
  • Account Types: Three  ( Direct, Prime, Ultra) 
  • Trading Fees: Spread starting from 1.2 pip for Direct  Account or Commission $3 per lot per side for Prime Account, and $1 per lot per side for Ultra Account 
  • PAMM/ MAM:  Available 
  • Zulutrade: Available
  • 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:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

Moneta Markets vs Hankotrade: Pros and Cons

Moneta Markets Pros & Cons

Pros
  • Regulated by FSA-S, FSCA 
  • The Maximum Leverage is as high as 1:1000
  • Low Spread Starting From as low as 0 pips 
  • Allow Scalping, EA Trading, Copy Trading 
  • Offers passive investment programme(MAM, PAMM Account)
  • Copy Trading, Zulutrade is allowed  
  • No Deposit or Inactivity fees 
  • Wide Range of instruments – 1000+ products to trade
  • Easy and Quick Account Opening 
  • Seamless Deposit and Withdrawal 
  •  Free Forex VPS
Cons
  • Moneta Markets does not have top tire regulations like FCA, NFA, ASIC, CySEC etc. 
  • Limited number of trading instruments compared to market leaders 
  • No investor protection scheme 
  • The Ctrader platform is not offered

Hankotrade Pros & Cons

Pros
  • 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. 
Cons
  • 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 

Moneta Markets vs Hankotrade: Side-by-Side Comparison

Moneta Markets
Hankotrade
Product
Product
Moneta Markets
Hankotrade
Founded In
Founded In
2009
2020
Founded By
Founded By
David Bily
Not Found
Headquarters
Headquarters
Johannesburg, 2193, South Africa
Dubai, UAE
Regulations
Regulations
FSCA, FSA-S
None
Min Deposit
Min Deposit
None
$10
Max Leverage
Max Leverage
1000:1
1:500
Tradable Assets
Tradable Assets
Forex, indices, Commodities, Share, ETFs, Bonds
Cryptocurrencies, indices and commodities.
Fees
Fees
Spread starting from 1.2 pips or commission from $1 to $3
Spread from 0.7 pips
Platforms and Tools
Platforms and Tools
PRO TRADER ,APP TRADER ,Mt4,Mt 5,METATRADER APP,MT4,WEBTRADER,COPYTRADER APP
MT4 ,MT5,Webtrader
US Traders
US Traders
Not Allowed
Allowed

Moneta Markets Vs Hankotrade: Our Scores and Ratings

We rated both brokers, Moneta 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.

Moneta Markets :

8.5
Total Score
Regulation and Security (40%)8
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)8.4
Customer Support (10%)8.8
Trading Education (5%)9

Hankotrade

4
Hankotrade Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)8
Trading (15%)7
Trading tools (10%)1
Customer Support (10%)5.5
Trading Education (5%)1

Final Verdict :

Both Moneta Markets and Hankotrade offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Moneta Markets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSCA. On the other hand, Hankotrade is an unregulated offshore forex broker. Moneta Markets provides Multiple trading platforms including MT5, AppTrader, ProTrader (by TradingView). On the Contrary, Hankotrade does not offer MT4/MT5. It uses only ActTrader as its trading platform.  

As Moneta 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 Moneta Markets, while US traders looking for offshore forex brokers may consider Hankotrade. Trading with offshore forex brokers is risky and not recommended.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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