Skilling and Hankotrade are online forex brokers that offer their trading services to traders and investors. Skilling is a highly regulated and trusted forex broker. It is regulated by multiple regulatory authorities including CySEC, FSA, and FCA (recently deregistered from FCA). On the other hand, Hankotrade is an offshore forex broker which is not regulated by any regulatory bodies. Both the brokers have their own strengths and weaknesses.
In this article, we will review and compare the brokerage services offered by Skilling 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.
Skilling vs Hankotrade: In a Nutshell
Skilling
Established in 2016 by Scandinavian entrepreneurs, Lennart Clausen, André Lavold, Henrik Ekdahl, and Mikael Harstad, Skilling is a regulated and innovative forex broker. It offers traders access to more than 900 forex and CFDs on its Skilling Trader, cTrader, and MT4 platforms. The broker’s Premium account features competitive spreads and low commissions, ideal for advanced traders. Skilling.com provides forex pairs, CFDs, commodities, shares, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for your personal investment and trading options. Additionally, Skilling provides tools like TradingView, an economic calendar, market news, and detailed analysis to enhance trading decisions.
Skilling Overview
- Founded In: 2016
- Minimum Deposit: 25 € or equivalent
- Maximum Leverage: Up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
- Regulations:CySEC, FSA, and FCA (recently deregistered from FCA)
- Trading platform: MT4, MT5, cTrader, Skilling Trader, and Skilling Copy
- Account Types: Offers 3 account types: Standard, Premium, MT4
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CoinsPaid, Directa24, FasaPay, Klarna, Neteller, Ngan Luong, Pagsmile, PayPal, PayRetailers, PayTrust88, Skrill, Swish, Trustly, UnionPay, WebMoney
- 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
- 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
Skilling vs: Hankotrade Features
Skilling
- Trading Instruments: 800+ forex, CFDs, commodities, shares, indices, and cryptocurrencies
- Maximum leverage: up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
- Minimum Deposit: $25 for the Non-EU standard account, $100 for the EU standard account, and $5000 for the premium account.
- Account Types: Offers 3 account types: Standard, Premium MT4
- Fees: starting from 0.8 pips for a standard account,
- Social Copy Trading: Yes,
- Zulutrade: No
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Skilling vs Hankotrade: Pros and Cons
Skilling
- Regulated by CySEC, FSA, and FCA.
- The Maximum leverage is as high as 1:1000 for global entities, 1:30 for EU traders, and 1:200
- Fully Digital Account Opening ( Easy Sign and Verification Process)
- Demo Accounts are Available
- Low Trading fees starting from 0.8 pips for standard accounts, and 0.10 pips for premium accounts
- Offers both leverage and non-leverage cryptos of trading
- Educational resources with a new 'Trading Study Hub' for beginner investors to learn more about investing
- Offers a variety of trading platforms and tools including MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
- Straightforward fees, no hidden charge
- No deposit and withdrawal fees
- Higher minimum deposit of $100 for Standard accounts, and $5000 for Premium accounts in the EU
- Degegistered from FCA regulations
- Service is not available in many countries including Canada and the US
- 1:2 leverage for cryptocurrencies
- Only Forex and CFDs are offered
Hankotrade
- 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
Skilling vs Hankotrade: Side-by-Side Comparison
Skilling Vs Hankotrade: Our Scores and Ratings
We rated both brokers, Skilling 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.
Skilling:
Hankotrade:
Final Verdict :
Both Skilling and Hankotrade offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Skilling is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including CySEC, FSA, and FCA (recently deregistered from FCA). On the other hand, Hankotrade is an unregulated offshore forex broker. Skilling provides Multiple trading platforms including Hankox. On the Contrary, Hankotrade does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As Skilling 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 Skilling, while US traders looking for offshore forex brokers may consider Hankotrade. Trading with offshore forex brokers is always risky
