Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Hankotrade Pros & Cons
- 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.
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.
TU Expert Verdict
Hankotrade carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
Hankotrade User Reviews
-
5-star
0%
-
4-star
0%
-
3-star
38%
-
2-star
13%
-
1-star
50%
-
Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria9 /10The trading and non-trading commissions of Hankotrade have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, 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 OANDA FOREX.com EUR/USD min, pips 0.9 0.1 0.7 EUR/USD max, pips 1.5 0.5 1.2 GPB/USD min, pips 1.1 0.1 0.9 GPB/USD max, pips 1.7 0.5 1.4 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 OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 2 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.1 0.2 0.4 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 OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Hankotrade Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria2 /10Hankotrade 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 9 years
- Not tier-1 regulated
- Not regulated
Hankotrade Security Factors Foundation date 2017 Negative balance protection YesVerification (KYC) YesHankotrade is Not a Regulated Broker
Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
-
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.3 /10Hankotrade offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free, Managed.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Swap Free (Islamic) account
- Tight spread ECN account
- Micro lots are not available
- No Cent account
Hankotrade account types vs top competitors Hankotrade Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free YesNoNoVIP NoNoNoManaged YesNoNoHankotrade accounts trading conditions
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:
Account Type Description STP The minimum deposit is $10. The main account currencies are USD, EUR, and CAD. The minimum spread is 0.7 pips. The maximum leverage is 1:500. Negative balance protection is available. The minimum order is 0.01 lots. Additional trading fees are not charged; ECN The minimum deposit is $100. Basic currencies are USD, EUR, and CAD. Spread is from 0 pips. The maximum leverage is 1:500. There is negative balance protection and a fee of $2 in each direction for the turnover of $100,000; ECN Plus The minimum deposit is $1,000. The main account currencies are USD, EUR, and CAD. The spread is from 0 points. The maximum leverage is 1:500. There is negative balance protection. A fee of $1 in each direction is charged for the turnover of $100,000. 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
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology3 /10Hankotrade 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.
- Minimum deposit below industry average
- USDT (Tether) supported
- BTC available as a base account currency
- Low minimum withdrawal requirement
- Limited deposit and withdrawal flexibility, leading to higher costs
- PayPal not supported
- No bank wire option
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 Trading.com Bank Wire NoYesYesBank card NoYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are Hankotrade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Hankotrade supports the following base account currencies: Bitcoin.
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
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.3 /10Hankotrade 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
- Crypto trading
- Copy trading platform
- Bonds not available
- Futures 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 Trading.com Currency pairs 62 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 2800 69 Stocks NoYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment 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 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing YesNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Hankotrade by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with Hankotrade in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at Hankotrade is $10. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Quick KYC verification (1 business day or less)
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Account setup process may feel less convenient for beginners
Hankotrade account opening Hankotrade Plus500 Trading.com Online Registration YesYesYesMinimum deposit $10 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 8 20 KYC time (days) 1 3 2 Is Hankotrade available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
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.
- Deposits and withdrawals of funds.
- 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.
-
Customer Support
Score:We evaluated Customer Support at Hankotrade by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria4.2 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationThe client support service operates 24/7.
- Operators of the technical support help solving relevant problems
- Non-members can get assistance
- To communicate with technical support, trader’s contact information is required
- Minimal delays are possible
Ways to contact the representatives of the brokerage company:
- via live chat on the website;
- by writing an email;
- through the Account Operation section in the user account;
- 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 contactus@hankotrade.com
Best Hankotrade Alternatives
FAQs
What trading commissions and non-trading fees does Hankotrade apply on its forex accounts?
Hankotrade is assessed as having generally low fees, with a fees score of 9/10, including low forex trading fees and tight EUR/USD spreads. Standard accounts have floating spreads (for example, EUR/USD typically ranges from 0.9 to 1.5 pips), while RAW/ECN accounts combine market-based spreads (around 0.1 pips on EUR/USD and GBP/USD) with a $2 per lot commission. Non-trading fees are described as minimal, with no deposit, withdrawal, or inactivity fees specified for Hankotrade.
What types of trading accounts and key conditions are offered by Hankotrade?
Hankotrade provides Demo, Standard (STP), ECN/Raw spread, Swap Free (Islamic), and Managed accounts, but does not offer Cent or Micro accounts. The STP account has a $10 minimum deposit with spreads from 0.7 pips and no extra trading fees, while ECN and ECN Plus accounts require $100 and $1,000 minimum deposits respectively, with spreads from 0 and commissions of $2 and $1 per $100,000 turnover in each direction. All accounts share a maximum leverage of 1:500, support USD, EUR, and CAD as base currencies, and include negative balance protection.
What do Hankotrade user reviews and feedback reveal about client satisfaction?
The user satisfaction score for Hankotrade is 3.8/10, based on 8 reviews, with 50% of ratings at 1 star and no 4- or 5-star reviews. According to user reviews, 38% are 3-star and 13% are 2-star, indicating that overall feedback is mostly negative.
How does the Hankotrade account opening process work and how efficient is it?
Opening an account with Hankotrade is fully online, with registration reportedly completed in about 8 minutes and KYC verification within 1 business day, and the minimum deposit set at $10. The process involves registering a user account, creating a live trading account with chosen platform and leverage, and then managing deposits, withdrawals, and additional services from the user area. While the procedure is described as accessible and fast, it is noted that the setup steps may feel less convenient for some beginners.
What customer support options does Hankotrade provide and how do traders describe this service in feedback?
Hankotrade’s customer support operates 24/7 and can be reached via website live chat, email, the Account Operation section, or by creating a ticket in the user account, and assistance is available even to non-active or non-registered traders. However, testing and descriptions in the section indicate noticeable weaknesses, including delays in replies and limited depth of assistance, meaning issues may require repeated contact to resolve.
Articles that may help you
-
#For Beginners
Hankotrade Fees and Spreads (October 2026)
October 2026 Andrey Mastykin -
#For Beginners
Hankotrade Minimum Deposit and Funding Options
October 2026 Andrey Mastykin -
#For Beginners
Is Hankotrade Regulated and Safe in 2026
October 2026 Mikhail Vnuchkov -
#For Beginners
HankoTrade Bonus and Deposit Bonus 2026
October 2026 Mikhail Vnuchkov -
#For Beginners
Hankotrade Available Countries – Full List (2026)
October 2026 Andrey Mastykin -
#For Beginners
Hankotrade Withdrawal Fees, Time & Payment Methods (2026)
October 2026 Parshwa Turakhiya -
#For Beginners
Why Is It Hard to Stop Trading After Losses? | TU Research
October 2026 Anastasiia Chabaniuk -
#For Beginners
Lowest Leverage In Forex: A Complete Guide
October 2026 Aleksandra Chaikina -
#For Beginners
October 2026 Aleksandra Chaikina