ThinkMarkets and Hankotrade are online forex brokers that offer their trading services to traders and investors. ThinkMarkets is a highly regulated and trusted forex broker. It is regulated by multiple regulatory authorities including FSA- Seychelles, ASIC, CySEC, FCA, JFSA, FSA in Japan, FSCA, CIMA, FSC-Maritius, NZFMA, DFSA. 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 ThinkMarkets 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.
ThinkMarkets vs Hankotrade: In a Nutshell
ThinkMarkets
Founded in 2010 by Nauman and Faizan Anees, ThinkMarkets is an Australian-based forex and CFD broker that offers online trading services worldwide. The company has offices in London, Tokyo, Chicago, Melbourne, Limassol, Dubai, Sofia, and Johannesburg. On its MetaTrader and ThinkTrader platforms, clients can trade over 4,000 instruments. Real stock trading is available on the ThinkTrader app. Traders are supported with free VPS, Signal Centre, Dynamic leverage, Traders’ Gym, etc. To learn more about Think Markets, read our review on Think Markets
ThinkMarkets At a Glance
- Founded In: 2010
- Founder: Nauman and Faizan Anees
- Headquarters: London, England
- Minimum Deposit: $0 (Standard Account), $500 (ThinkZero account).
- Maximum Leverage: 1:500
- Regulations: ASIC, CySEC, FMA, JFSA, FSA-S, FSCA , FCA , DFSA
- Trading platform: MT5, ThinkTrader, ThinkCopy
- Account Types: Demo ,Standard Account, Think Zero, Mini Account
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Cryptocurrency, Neteller, PayPal, PayRetailers, Skrill
- US Clients : 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
ThinkMarkets vs Hankotrade: Features
ThinkMarkets
- Trading Instruments: 4000+ trading instruments including including forex, cryptocurrencies, shares CFDs, indices, metals, and commodities.
- Maximum leverage: The maximum leverage of ThinkMarkets is as high as 2000:1. Leverage may vary based on jurisdiction and tradable assets.
- Minimum Deposit: The minimum deposit is as low as $0. However, the minimum deposit varies based on account type. ( Standard account: $0, Mini Account: $10, ThinkZero Account: $500)
- Account Types: Three ( Standard account, ThinkZero Account, Mini Account)
- Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip.
- Trading Fees: Spreads start from 0.4 pips for the standard account (No commission), and 2.52 pips for the Mini Account (no commission). The ThinkZero account has a spread of 0.0 pips with a commission of $3.5 per lot per side.
- PAMM/ MAM: 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:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
ThinkMarkets vs Hankotrade: Pros and Cons
ThinkMarkets Pros & Cons
- Regulated by ASIC, FCA, CySEC, JFSA, FSA-S, DFSA
- The minimum deposit is as low as $1
- The Maximum Leverage is as high as 2000:1
- Allows scalping, EA trading, Copy trading
- Offers social trading options PAMM, MAM Accounts
- Negative balance protections for EU, UK, and Australian clients
- Tight Spreads Starting From 0 pips
- MT4, MT5, and Thinktrader trading platforms are offered
- Only Forex and CFDs are offered (not real assets).
- There is no investment protection scheme for Global traders.
- Ctrader and TradingView are not offered.
- No bonuses or promotional offerings are available.
- Conditions may vary according to regulation and entity.
- Offshore Entity for international traders
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
ThinkMarkets vs Hankotrade: Side-by-Side Comparison
ThinkMarkets Vs Hankotrade: Our Scores and Ratings
We rated both brokers, ThinkMarkets 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.
ThinkMarkets :
Hankotrade
Final Verdict :
Both ThinkMarkets and Hankotrade offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. ThinkMarkets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSA- Seychelles, ASIC, CySEC, FCA, JFSA, FSA in Japan, FSCA, CIMA, FSC-Maritius, NZFMA, DFSA. On the other hand, Hankotrade is an unregulated offshore forex broker. ThinkMarkets provides Multiple trading platforms including MT5, ThinkTrader, ThinkCopy. On the Contrary, Hankotrade does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As ThinkMarkets 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 ThinkMarkets, while US traders looking for offshore forex brokers may consider Hankotrade. Trading with offshore forex brokers is always risky.
