According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- MetaTrader4
- MetaTrader5
- MT5 Desktop
- MT5 Webtrader
- MT5 Android
- MT5 IOS
- MT4 Web Trader
- MT4 Mobile app
- 2017
Our Evaluation of Hankotrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Hankotrade is a broker with higher-than-average risk and the TU Overall Score of 4.58 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Hankotrade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Hankotrade is suitable for both novice and professional traders. Novice traders can use demo accounts to try trading the instruments provided by the brokerage company.
Brief Look at Hankotrade
Hankotrade is an STP (straight-through processing) broker providing services to both retail and professional traders. The company offers trading contracts for differences (CFDs) on currencies, metals, and cryptocurrencies. The office of the brokerage company is located at Port Harcourt City, Rivers State, Nigeria. The company acts as an unregulated broker.
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- Traders have access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as to desktop and mobile trading. Clients can also use web versions of the platforms;
- Bonuses are available;
- Passive investment in PAMM and MAMaccounts;
- Demo accounts are available for testing trading strategies;
- Flexible spreads that depend on the asset;
- Prompt client support;
- The IB (Introducing Broker) program for extra income.
- The broker is not regulated;
- Mandatory verification;
- A limited number of withdrawal methods.
TU Expert Advice
Financial expert and analyst at Traders Union
The broker provides traders with the MT4 and MT5 trading platforms. If necessary, the broker’s client can trade through desktop, mobile, or web versions. According to the company, the broker's team has been working in the asset trading industry since the 1980s. The company's traders operate in global financial markets, including Asia and North America.
Hankotrade offers 3 account types, which are STP, ECN, and ECN Plus. Spreads on standard accounts start from 0.7 pips, but it is worth noting that the indicator can be even lower. Trading with zero spreads is possible on ECN accounts subject to favorable market conditions. Both professional and retail traders are provided with leverage of up to 1:500. The main account currencies are USD, EUR, and CAD.
The broker conducts transparent activities. Trading conditions, fees, and policies of the partnership are described in detail on the Hankotrade website. If you have any questions, you can write to technical support, which responds to client’s requests 24/7. Operators work quickly, provide comprehensive advice, and try to quickly resolve relevant issues.
Hankotrade Trading Conditions
Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Hankotrade Ltd and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
💻 Trading platform: | MetaTrader 4, MT4 Desktop, MT4 Phone, and MT4 Web; MetaTrader 5, МТ5 Desktop, MT5 Phone, and MT5 Web |
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📊 Accounts: | Demo, STP, ECN, and ECN Plus |
💰 Account currency: | USD, EUR, and CAD |
💵 Deposit / Withdrawal: | Cryptocurrencies: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, TrueUSD, USDC, DogeCoin, and Tether ERC20 |
🚀 Minimum deposit: | $10 |
⚖️ Leverage: | Up to 1:500 |
💼 PAMM-accounts: | Yes |
📈️ Min Order: | 0.01 |
💱 EUR/USD spread: | 0,1 pips |
🔧 Instruments: | Currency pairs, CFDs on indices, commodities, cryptocurrencies, and metals |
💹 Margin Call / Stop Out: | 70%/50% |
🏛 Liquidity provider: | Banks and cryptocurrency stock exchanges |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Order execution: | STP and No Dealing Desk (NDD) execution |
⭐ Trading features: | No |
🎁 Contests and bonuses: | Yes |
Hankotrade allows you to trade cryptocurrencies, currency pairs, indices, metals, and energies (silver, gold, and oil). The broker offers standard MT4 and MT5 platforms. Also there are STP, ECN, and ECN Plus accounts. Traders receive leverage from 1:10 to 1:500, which can be set in the user account. There are Islamic accounts without swaps.
Hankotrade Key Parameters Evaluation
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Trading Account Opening
Before you start trading, you must register a user account and create a trading account. Registration instructions are as follows:
On the Hankotrade website, click the “Register Live Account” button. Next, fill out the registration form. A confirmation code will be sent to the email address you provided during registration.


After confirming the account, the system will automatically open the user account. You need to create a live account in it. You can do this by clicking the “Add Live Account” button. Next, a menu with a list of available platforms and accounts will appear. Here select the required type of trading account and platform, and specify the desired leverage.


Functionality of the user account:
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Deposits and withdrawals of funds.
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Registration of PAMM and MAM accounts.
Functions of the user account:
Economic calendar;
Detailed report on a trading account;
Quick access to bonuses and referral system;
2FA (two-factor authentication) connection;
Communication with the Hankotrade technical support.
Regulation and safety
Hankotrade has a safety score of 2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 8 years
- Not tier-1 regulated
- Not regulated
Hankotrade Security Factors
Foundation date | 2017 |
Negative balance protection | Yes |
Verification (KYC) | Yes |
Hankotrade is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker Hankotrade have been analyzed and rated as Low with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Hankotrade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Hankotrade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Hankotrade Standard spreads
Hankotrade | Pepperstone | OANDA | |
EUR/USD min, pips | 0,9 | 0,5 | 0,1 |
EUR/USD max, pips | 1,5 | 1,5 | 0,5 |
GPB/USD min, pips | 1,1 | 0,4 | 0,1 |
GPB/USD max, pips | 1,7 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Hankotrade RAW/ECN spreads
Hankotrade | Pepperstone | OANDA | |
Commission ($ per lot) | 2 | 3 | 3,5 |
EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
GBP/USD avg spread | 0,1 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Hankotrade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Hankotrade Non-Trading Fees
Hankotrade | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 0 | 0 | 0 |
Withdrawal fee, USD | 0 | 0 | 0-15 |
Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Three accounts are available to Hankotrade traders, which can be created on any trading platform. The maximum leverage for both retail and professional clients is 1:500. The minimum deposit for standard and ECN and ECN Plus accounts is different.
Account types:
You can create a demo account in each version of the trading platform.
Hankotrade is a broker offering favorable trading conditions for novice traders and professionals.
Deposit and withdrawal
Hankotrade received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Hankotrade offers limited payment options and accessibility, which may impact its competitiveness.
- BTC available as a base account currency
- Low minimum withdrawal requirement
- Minimum deposit below industry average
- No deposit fee
- No bank wire option
- No bank card option
- PayPal not supported
What are Hankotrade deposit and withdrawal options?
Hankotrade offers a limited selection of deposit and withdrawal methods, including BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making Hankotrade less competitive for those seeking diverse payment options.
Hankotrade Deposit and Withdrawal Methods vs Competitors
Hankotrade | Plus500 | Pepperstone | |
Bank Wire | No | Yes | Yes |
Bank card | No | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | Yes | No | No |
What are Hankotrade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Hankotrade supports the following base account currencies:
What are Hankotrade's minimum deposit and withdrawal amounts?
The minimum deposit on Hankotrade is $10, while the minimum withdrawal amount is $50. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Hankotrade’s support team.
Markets and tradable assets
Hankotrade offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 62 Forex pairs.
- Indices trading
- Copy trading platform
- 62 supported currency pairs
- Limited asset selection
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Hankotrade with its competitors, making it easier for you to find the perfect fit.
Hankotrade | Plus500 | Pepperstone | |
Currency pairs | 62 | 60 | 90 |
Total tradable assets | 2800 | 1200 | |
Stocks | No | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products Hankotrade offers for beginner traders and investors who prefer not to engage in active trading.
Hankotrade | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | No | Yes | Yes |
Copy trading | Yes | No | Yes |
PAMM investing | Yes | No | Yes |
Managed accounts | Yes | No | No |
Customer support
The client support service operates 24/7.
Advantages
- Operators of the technical support help solving relevant problems
- Non-members can get assistance
Disadvantages
- To communicate with technical support, trader’s contact information is required
- Minimal delays are possible
Ways to contact the representatives of the brokerage company:
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via live chat on the website;
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by writing an email;
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through the Account Operation section in the user account;
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by creating a ticket in the user account.
You don't need to have an active account to receive a response to your question. Hankotrade technical support is available to traders who do not trade regularly.
Contacts
Foundation date | 2017 |
---|---|
Registration address | Hankotrade LLC First floor, First St Vincent Bank Ltd Build, James Street, Kingstown, St Vincent and the Grenadine. |
Official site | https://hankotrade.com/ |
Contacts |
Education
The Hankotrade website does not have a separate section with educational materials. The only way to gain new knowledge is to study the FAQs section.
There are no cent accounts, and, therefore, trading strategies can only be tested on demo accounts.
Comparison of Hankotrade with other Brokers
Hankotrade | Eightcap | XM Group | RoboForex | VT Markets | FxPro | |
Trading platform |
MetaTrader5, MetaTrader4, MT4 Mobile app, MT5 IOS, MT5 Desktop, MT5 Webtrader, MT4 Web Trader, MT5 Android | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MetaTrader4, MetaTrader5, VT Markets App, Web Trader+ | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
Min deposit | $10 | $100 | $5 | $10 | $50 | $100 |
Leverage |
From 1:1 to 1:50 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
Trust management | No | No | No | No | Yes | No |
Accrual of % on the balance | No | No | No | 10.00% | No | No |
Spread | From 1.7 point | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
Level of margin call / stop out |
70% / 50% | 80% / 50% | 100% / 50% | 60% / 40% | No / 50% | 25% / 20% |
Order Execution | NDD, STP | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | Yes | No | No |
Detailed review of Hankotrade
Hankotrade operates with a client-oriented approach, ensuring high speed of order execution and the highest quality of the trading process. The broker does not limit trading strategies. Traders have access to hedging and scalping. Order execution of STP and No Dealing Desk (NDD) types are offered. All clients have access to partnership programs and bonuses. The company provides three account types, namely STP, ECN, and ECN Plus.
Hankotrade by the numbers:
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The minimum spread for currency pairs are 0.7 pips;
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It hosts the two most popular trading platforms, which are MT4 and MT5;
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Withdrawals are made within 24 hours.
Hankotrade is a company with solutions for active trading and passive income
Hankotrade is a broker that offers both standard STP and ECN accounts, allowing you to trade directly with liquidity providers. They are international banks and cryptocurrency stock exchanges. Because of this, competitive trading spreads are available, and you can trade currency pairs and CFDs on metals and indices. Experienced traders can choose PAMM and MAM accounts and receive a fee for transactions that are made by their referrals.
Trading is carried out using MT4 and MT5. Trading software can be downloaded to your phone, providing you with access to the resources of the brokerage company globally. Hankotrade does not prohibit automated trading.
Useful services offered by Hankotrade:
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VPS (Virtual Private Server) that provides 24/7 operation of software for automated asset trading. Any trader can use this instrument, regardless of the account balance;
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E-calendar provides up-to-date market information in real-time. The data contains swaps, asset values, and spreads;
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Fx Calculators allow you to calculate profit, loss, and margin on trades.
Advantages:
Tight spreads from 0.7 pips on standard accounts;
Negative balance protection;
This broker keeps traders' funds in separate accounts, which provides additional asset security;
Deposits and withdrawals are free;
Fast operation of the trading platform;
Spreads change in real-time.
Demo accounts are available for all traders. Useful services can be used by clients with any balance.
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