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.
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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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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, 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
Moneta Markets vs Hankotrade: Pros and Cons
Moneta Markets Pros & Cons
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Hankotrade Pros & Cons
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Moneta Markets vs Hankotrade: Side-by-Side Comparison
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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 :
Hankotrade
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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.
