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Hankotrade Review 2023: Should You Consider This Financial Broker?

Hankotrade Review 2023: Should You Consider This Financial Broker?

You’re trying to find the perfect financial broker to help you make intelligent investment decisions and bring you one step closer to your financial goals.

But with so many options, knowing which one to choose is challenging. You want a reliable, trustworthy platform with real-time news and data.

As you scroll through the endless sea of reviews, you come across Hankotrade, a name you’ve never heard before. Despite your initial skepticism, you’re intrigued and take a closer look.

In this Hankotrade review, I’ll take you on a journey through this financial broker’s features, benefits, and drawbacks so you can make an informed decision.

With my honest and impartial assessment, you’ll have all the information you need to determine if Hankotrade is the right choice for you.

What is Hankotrade?

Hankotrade is an online broker that specializes in “contracts for differences.”

The company provides global access to financial markets, including forex, commodities, crypto, and stocks. Hankotrade is like Bookmap if you are familiar with the trading platform.

Hankotrade offers three distinct trading accounts, each with its features and benefits, allowing traders to choose an account that fits their individual needs and preferences.

Additionally, the availability of both live and demo accounts offers traders the opportunity to test their strategies and refine their skills without financial risk.

Features of Hankotrade

  1. Hankotrade uses Metatrader 4 and Metatrader 5

Hankotrade utilizes the MetaTrader 4 or 5 trading platforms, providing you with a comprehensive and user-friendly interface for your trading activities.

These platforms offer a wide range of trading instruments, allowing you to diversify your portfolio.

  1. Multiple trading tools

As a trader using Hankotrade, you can access various tools to aid your trading activities. For example, you can use the forex calculator to determine the value of different currencies, which can be useful in trading decisions.

You can also opt to use a virtual private server, which can enhance the speed and efficiency of your trades.

Additionally, depending on the type of trading account you have with Hankotrade, you may be eligible for commission-free or low-commission trading, giving you more flexibility in managing your trading expenses.

  1. Demo accounts

By utilizing the demo accounts offered by Hankotrade, you can get hands-on experience with the trading platform without having to invest real money.

The demo accounts provide access to various trading instruments and analytical tools, allowing you to familiarize yourself with the platform and develop your skills. Furthermore, there is no financial risk involved as you trade with virtual funds on the demo account.

  1. Live trading accounts

Once you are ready to take the next step in your trading journey, you can open multiple live trading accounts. It’s important to note that live trading involves money and real risks.

  1. Market updates

Hankotrade offers an educational platform for traders with access to up-to-date market news and analysis. By subscribing to their newsletter, you will receive regular updates on the latest financial and trading developments.

You should go through our Bookmap review, an alternative platform, to see how its features compare with Hankotrade.

Types of Hankotrade Trading Accounts and Their Prices

STP account

Hankotrade’s STP account is a commission-free trading option for traders. This account provides access to various global markets and a wide range of currencies and stock indices.

The STP account is designed for fast execution speed and competitive spreads, making it a popular choice for traders. The minimum deposit to open an STP account is $10, and the spreads start from 0.7 pips.

The STP trading conditions include:

  • No Dealing Desk (NDD) execution
  • GMT +2 server
  • The ability to use hedging and scalping strategies
  • Zero commission on trades

ECN account

Hankotrade’s ECN account is an option for traders looking to start with a smaller deposit. This type of account is popular among Hankotrade’s clients and offers low spreads starting from 0.0 pips. With the ECN account, you can place “stop and limit orders close to market orders,” providing greater flexibility in your trades.

The ECN account provides NDD execution, GMT+2 server, the ability to hedge and scalp, and a $4 per $100k (round-trip) commission.

Lastly, The minimum deposit for the ECN account is $100.

ECN Plus account

The ECN Plus account offers advanced features and improved trading conditions compared to the ECN and STP accounts.

With fast execution speed, low spreads starting from 0.0 pips, NDD execution, and low commission fees, it provides a comprehensive trading solution.

Additionally, the ECN Plus account offers the option to upgrade to an Islamic account, making it a popular choice among Hankotrade traders.

The minimum deposit to open an ECN Plus account is $1000.

Islamic account

The Islamic account offered by Hankotrade is a commission-free and SWAP-free trading option. All other features of the Islamic account are similar to other trading accounts, except for the absence of swap commissions.

Pros of Hankotrade

  • A low minimum deposit requirement
  • Allow a wide range of individuals to participate in the markets
  • Availability of free demo accounts
  • Multiple platform options

Cons of Hankotrade

  • Crypto is the only funding source
  • Limited educational content

Is Hankotrade Worth it?

As an investor, you want to choose a platform that best fits your needs and preferences. Hankotrade may not be the ideal choice for everyone. The platform operates differently from traditional online trading brokers, which only support cryptocurrency funding.

However, if you’re open to exploring alternative options, Hankotrade offers many benefits. You can access various trading instruments and account types as a trader. The platform integrates with MetaTrader, providing various chart types and technical indicators to enhance your trading experience.

With a minimum deposit requirement of only $10, Hankotrade makes it accessible for traders of all levels to start their trading journey. And, with features like tight spreads, commission-free trading, and crypto funding, you’ll have the resources you need to grow your investments.

If you’re curious about what Hankotrade offers, I highly encourage you to try it. You can start by clicking here and see for yourself.

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