Forex Hankotrade Trading Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.6

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.8

Business 1.1

Risk Control 1.4

Software 2.1

Regulatory 1.6

Terminal Snapshot

Hankotrade Trading Conditions

Registered Region Belize

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@hankotrade.com

Contact Number N/A

Website hankotrade.com

Balanced Review

Pros & Cons

Pros

Diverse range of trading instruments including forex, commodities, and cryptocurrencies
User-friendly trading platform, Hank Ox, for fast execution and competitive spreads
Multiple account types catering to different trader levels, from beginners to advanced
24/5 customer support available via email, live chat, and phone
No deposit or withdrawal fees, offering cost-effective trading options

Cons

Not regulated by any major financial authority
No investor protection measures for client funds
Limited range of trading instruments outside forex
Lack of educational resources and market analysis
Withdrawal process may face delays during disputes

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	Hankotrade	FBS	Scope Markets	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Belize	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.6/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does Hankotrade Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
STP Account	Beginners	Competitive spreads, reliable execution	Minimum deposit of $10, suitable for small-capital practice
ECN Account	Experienced Traders	Tight spreads, direct market access	Minimum deposit of $100, ideal for professional trading
ECN Plus Account	Advanced Traders	Ultra-low commissions, enhanced ECN features	Minimum deposit of $1,000, designed for high-volume trading
Islamic Account	Muslim Traders	Swap-free trading options	Available for traders following sharia law

Account Opening Process

Opening an account with Hankotrade involves several steps. First, traders need to provide personal details and complete an application form. This includes submitting employment and financial information. Identity verification is required, which involves providing a government-issued ID and proof of address. Once the account is set up, traders have the flexibility to upgrade to a professional account later if desired.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	0.7	$0 (for STP), $2 (for ECN), $1 (for ECN Plus)	Competitive spreads available across account types
CFDs (Stocks, Indices, Commodities)	Varies	Varies	Dependent on specific instruments
Cryptocurrencies	Varies	Varies	Reflects market volatility

Other Fees

In addition to trading fees, Hankotrade may impose various charges. There are no deposit or withdrawal fees, ensuring cost-effectiveness for traders. Inactivity fees may apply if accounts remain dormant for extended periods. Additionally, platform usage fees and overnight interest (swap rates) may be applicable, alongside potential currency conversion fees for transactions involving different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

Hankotrade User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Alex Johnson

Cape Town

★ ★ ★ ★ ★

Hankotrade has been a great platform for my trading needs. The Hank Ox platform is user-friendly and allows for quick execution of trades. I’ve particularly enjoyed the copy trading feature, which has helped me boost my profits without spending too much time on research. The customer support is responsive, although sometimes I have to wait a bit longer during peak hours. Overall, a solid choice for traders like me.

Dakota Smith

New York

★ ★ ★ ★ ★

I’ve been trading with Hankotrade for over a year now, and I couldn’t be happier. Their execution speed is impressive, and I appreciate the low spreads on my ECN account. I use an EA for my scalping strategy, and the platform’s performance has been excellent. Withdrawals have been smooth and timely, which is crucial for my trading strategy. Highly recommend it for serious traders!

Fred Sanders

Los Angeles

★ ★ ★ ★ ★

I had a frustrating experience with Hankotrade. While the platform itself is decent, I faced significant delays with my withdrawal requests. It took longer than expected, and I felt anxious about not receiving my funds promptly. The customer support was not very helpful during this issue, which left me feeling disappointed. I’m considering looking for a more reliable broker.

Barbara Hayes

London

★ ★ ★ ★ ★

I had a terrible experience with Hankotrade. I lost a significant amount of money and faced issues retrieving my funds. Customer service was unhelpful, and I felt like they were ignoring my queries. The lack of regulation made me feel even more uneasy about my investment. I would strongly advise others to think twice before using this broker.

Belize Market