In today’s article, we will present a Hankotrade broker review for you, discussing if they are legitimate and worth the risk and time.
So let’s get started.
7 Prominent Characteristics of Hankotrade
Let’s discuss some of the most prominent features Hankotrade brokers provide their users.
1. Zero Spread Forex Broker
At the top of the list, we have low spreads, enabling traders to exit market positions without extra expense. The minimum spread offered by Hankotrade is 0.0 pips.
The above picture clearly shows the negligent difference between the bid and the ask price. Allowing traders to trade freely without worrying about incurring extra costs due to the increased price difference between both prices.
2. Lowest Commission Forex Broker
Do you know when it goes downhill?
When you win a trade and discover that you have been charged a big chunk of your profits as commission. This can ruin a lot of fun associated with trading. Sometimes even leading to permanently quitting the market.
Hankotrade ensures its users are taking away most of the amount they are making as a profit by charging minimal commissions per side per trade. These commissions can vary from one account type to another account type.
- No commission on the STP account
- $2 per side per $100k traded for ECN account
- $1 per side per $100k traded for ECN Plus Forex broker account
3. High Leverage for Advanced Traders
Ask a pro trader what the first thing they look for in a Forex broker is.
We are confident their answer would be maximum leverage to enable them to opt for bigger positions.
Hankotrade offers the same max leverage of 1:500 across all accounts, allowing traders to trade more significant trades than their original balance.
4. Offers Best Base Currencies
Hankotrade offers the top 3 base currencies for traders USD, EUR, and CAD.
5. Provides Negative Balance Protection
Negative balance protection is a proven investment saver for any trader. It’s a must-have feature for any reliable Forex broker. Hankotrade ensures its users are safe from any trading disaster by enabling a negative balance protection feature when the market moves against your intended positions.
6. On-Point Customer Service
Unfortunately, it’s common for many online services to make a fake online presence without any proper customer support, but it’s not the case with Hankotrade. On-point customer service is available via contact forms, FAQs, and live chat assistance.
7. Safeguards Personal Beliefs of Muslim Traders
Hankotrade has introduced a unique service for Muslim traders to allow them to trade safely while safeguarding their personal and religious beliefs. It offers swap and commission-free accounts to its Muslim traders.
Access to Top Trading Markets
With Hankotrade broker, you can trade in up to 4 different instruments and diversify your trading portfolio:
1. FX Market
Hankotrade offers their traders a maximum of 62 currency pairs worldwide, available 24 hours, 5 days a week.
2. Commodities Market
Hankotrade offers a variety of energy pairs along with precious metals, with pips starting from as low as 0.7.
3. CFD Indices
The MT4 trading platform on Hankotrade supports 11 major international stock indices providing traders with only the best opportunities available in the market.
Since the financial world is rapidly moving towards digital currencies, you must keep up with the change to be part of the future financial world.
Hankotrade ensures that it provides you with the best digital currencies and assets in the form of cryptocurrencies.
Provision of Suitable Account Type for Every Trader
The broker also offers a variety of account types, including a demo account for practice trading and live accounts with different minimum deposit requirements and trading conditions. Hankotrade claims to provide competitive spreads and fast execution speeds, which are crucial for traders.
Since we have already discussed the commissions and other features of these accounts above, we will only state the minimum deposit amounts for these accounts in this part.
- STP is the most common account type, which requires only a minimum of $10 to open.
- ECN is popular among traders and requires a minimum deposit of $100 to open.
- ECN Plus is better for more experienced and sound traders, and it’s a little expensive, requiring $1000 as a minimum deposit to open an account.
Money Transfer Options
Traders can transfer money to their trading accounts by using several cryptocurrencies, namely:
- True USD
- Btc cash
What are Hankotrade’s Deposit and Withdrawal Fees?
It’s a fact that traders love those financial brokers the most who have the best money transfer methods. By chance, Hankotrade broker is one of those financial brokers that does not charge fees on deposits and withdrawals. Which means no extra cost cut on your withdrawals.
Moreover, Hankotrade has one of the fastest payment transfers compared to other trading brokers in the market. Your withdrawal request is approved within one working day.
Is Hankotrade a Legit or a Scam Broker?
Some brokers available in the market can spoil your account, but it seems like Hankotrade is not one of those.
Why are we stating that?
What’s the proof?
We are confident in the legitimacy of the broker because of overwhelmingly good Hankotrade reviews on big review sites like trustpilot.com, fx-list.com, etc.
The Bottom Line
Considering the above-stated information, we can conclude that Hankotrade is a legitimate Forex broker for your investments. We leave the rest for you to decide whether it’s the best in the market.
Lastly, we want you to remember that you will risk the amount and face the consequences of choosing a broker. Thus, make sure you make an informed decision rather than an influenced one.
Furthermore, we encourage you to learn about the terms and policies of any Forex broker you have shortlisted to begin your trading career with.