Hankotrade Broker Review: A Comprehensive Analysis

Hankotrade broker, a name that has been making significant strides in the industry, is the subject of today’s comprehensive review. We will delve into every aspect, from trading platforms to fees, and also address areas that might need improvement. The purpose of this review is to equip you with all the necessary information before you get on board your trading journey with this broker.

Hankotrade Trading Platforms

Hankotrade Broker distinguishes itself by offering a range of trading platforms tailored to suit traders of all levels:

1. MetaTrader4 (MT4)

As the gold standard in trading platforms, MT4 at Hankotrade Broker provides a familiar interface, incorporating powerful charting tools, expert advisors (EAs), and an extensive library of technical indicators.

2. MetaTrader5 (MT5)

For traders seeking additional features, MT5 is available, offering more timeframes, technical indicators, and access to a wider range of markets.

3. WebTrader

If you prefer trading directly from your browser, Hankotrade’s WebTrader is a user-friendly option that grants you access to your trading account from any device with an internet connection.

4. Mobile Trading

The Hankotrade Broker mobile app is a valuable tool for traders on the move, featuring real-time market data, one-click trading, and seamless synchronization with desktop platforms.

Hankotrade Account Types: Catering to Diverse Needs

Hankotrade understands that traders have varied preferences and risk tolerances. To accommodate this, they offer multiple account types. Each of the following accounts offers a different fee structure and deposit requirements.

1. STP Account

STP account is the micro trading account of Hankotrade, which is famous amongst new traders. The deposit required to open this account is just $10, with spreads beginning from 0.7 pips. The STP account is commission-free, helping traders to cut their trading costs and keep their earnings to themselves.

Moving on to the account type, which is:

2. ECN Account

The ECN account requires a deposit of $100 with commission charges starting from $2 per side per $100K traded. This Hankotrade account is spread-free, allowing traders to enter or exit the market without incurring additional costs.

Hankotrade also offers an upgraded version of the ECN account, which is:

3. ECN Plus Account

Another spread-free account, with unbelievably low commission charges of $1 per side per $100K traded. The deposit required to open this account is $1,000.

Besides these accounts, Hankotrade also offers a swap-free Sharia-compliant account for its Muslim clientele.

4. Islamic Account

For traders who adhere to Islamic principles, Hankotrade provides Sharia-compliant Islamic accounts with no swap or interest fees.

The last account type that Hankotrade provide its trader with is:

5. Demo Account

If you’re new to trading or want to test your strategies, Hankotrade offers a risk-free Demo Account loaded with virtual funds.

Hankotrade Fees and Charges

While Hankotrade maintains competitive fee structures, it’s essential to be aware of potential charges:

1. Swap Rates

Overnight swap rates may apply, especially for positions held overnight. It’s advisable to check these rates before trading.

2. Withdrawal Fees

Hankotrade is one of the very few Forex brokers in the market that adheres to zero-fees-policy on withdrawals. It efficiently processes traders’ withdrawal requests and transfers the money without any hiccups.

The trading community has appreciated Hankotrade for its hassle-free and lightning-fast withdrawal.

Below are the screenshots of the Hankotrade withdrawal update emails shared by real clients of Hankotrade with us.

Proof of Hankotrade Withdrawals

3. Inactivity Fees

Hankotrade doesn’t charge any inactivity fees on dormant trading accounts. Traders can trade or take a break from trading without worrying about any charges levied on them by brokers.

Hankotrade Customer Reviews

Hankotrade has garnered a strong reputation among its customers, with a consistent stream of positive reviews attesting to their satisfaction. Traders have repeatedly expressed their appreciation for the broker’s exceptional customer service, which is known for its responsiveness and helpfulness.

Moreover, Hankotrade’s commitment to swift withdrawals has not gone unnoticed, with customers applauding the efficiency of their financial transactions. The broker’s dedication to providing a platform with smooth execution has also been a highlight in these reviews.

Hankotrade Customer Reviews on Sitejabber

Hankotrade Customer Reviews on Slashdot

Hankotrade Customer Reviews on FX-List

Hankotrade Customer Reviews on BrokerXplorer

Hankotrade Customer Reviews on Brokersview

Hankotrade Customer Reviews on Forbino

Areas of Improvement for Hankotrade

Hankotrade has garnered a robust reputation of being a zero-spread Forex broker. However, many traders have pointed out some shortcomings that Hankotrade needs to work on to deliver a perfect trading experience to its customers.

The following are the most highlighted areas by traders where Hankotrade needs to step up its game.

1. Limited Funding Options

The first complaint that the majority of traders have with Hankotrade is the lack of multiple payment channels. Currently, the broker only accepts payments and transfers money via cryptocurrency. While this may be beneficial for tech savvies, many traders still rely on traditional payment methods such as bank transfers or wire.

Hence, Hankotrade should consider diversifying its payment modes to accommodate all types of traders. Another area where Hankotrade needs to improve is to include more educational material on its website.

2. Non-availability of Education Material

Seasoned traders polish their skills through practice and keeping themselves updated about the major market news and events. Many credible brokers have a dedicated educational section on their website, aiming to help traders get a deeper insight into market patterns before pulling the trigger in the market. However, Hankotrade doesn’t have anything contributing to the traders’ knowledge on its website.

The broker should add valuable educational content to help its traders navigate the market tides cautiously.

Another area of Hankotrade that requires overhauling is the trading tools.

3. Mediocre Trading Tools

Currently, Hankotrade only provides trading calculators to calculate pips, profits, exchange rates, etc., and a VPS to stay connected to the market irrespective of traders’ location.

According to traders, the tools are very basic and not suitable for experienced traders who need advanced tools to kick up their trading a notch or two.

Hankotrade Review: In a Nutshell

In conclusion, Hankotrade has established itself as a reliable and efficient broker in the competitive world of online trading. With a diverse range of trading platforms, account types catering to various needs, competitive trading conditions, and responsive customer support, Hank Broker offers a comprehensive trading experience.

However, it’s essential to exercise due diligence, evaluate your trading goals, and consider your risk tolerance before selecting any broker. Hankotrade Broker’s limited funding options, while a minor drawback, are a factor to consider when making your decision. Always stay informed and make trading decisions that align with your requirements and objectives.