Hankotrade review

Our rating

Hankotrade scores 5.9 out of 10 on our table. That figure is an average of six things we assess, and it hides the shape of the broker: its strongest area is costs at 9.5, its weakest is education at 2.8. Whether that gap matters depends entirely on which of the six you were going to use.

Regulation and safety4.3/10

Hankotrade lists its authorisations as Unregulated. Those are offshore authorisations. Offshore licensing is not a synonym for dishonest, but it does mean lighter reporting, higher permitted leverage and, usually, no compensation scheme - the trade is protection for flexibility.

The licence that matters to you is the one held by the entity that opens your account, and at a multi-entity broker that is decided by your country of residence. Its registration can be checked directly on the No financial-services regulator register identified. It is a two-minute check and it is the only way to confirm that the firm taking your deposit is the firm named on the website.

Client money is held separately from the firm's own funds, with not disclosed - so that if the business fails, client balances are not part of what its creditors can reach. Negative balance protection applies, so a gap through your stop cannot leave you owing the broker money.

Hankotrade does not accept clients from sanctioned/prohibited jurisdictions and jurisdictions where services would violate local law. Restriction lists move, so confirm your own country before you spend time on an application.

What it costs to trade9.5/10

Hankotrade advertises spreads from 0.0 pips. Commission is $2 per side / $4 round turn, ECN, charged on top of the spread rather than instead of it - which is the normal arrangement on a raw account and the reason its quoted spread can be so low. Put the two together and a EUR/USD round turn works out at approx. 0.5 pips, which is the figure worth comparing against other brokers.

An advertised minimum is the best price a broker has ever quoted, not the price you will get. On our record its measured average on EUR/USD is approx. 0.1 pips, ECN, and approx. 0.3 pips, ECN on GBP/USD. Spreads are variable, so they move with liquidity and widen around releases and the daily rollover.

Positions held overnight accrue a financing charge, which is irrelevant to a day trader and compounds for anyone holding for weeks. Currency conversion applies where your account and the instrument use different currencies, which is a charge worth avoiding by funding in the currency you actually trade.

Platforms and tools8.1/10

Hankotrade runs HankoX Web, HankoX Mobile. Everything happens inside the broker's own software. That is simpler to start on - there is one interface and it was designed for this broker's products - and it is a dead end if you later want expert advisors, because none of the third-party ecosystem is available here.

Automation is supported: yes. There is API access (not publicly offered as a standard retail feature) for anyone connecting their own software. Copy trading is available through yes, which is the alternative to writing rules yourself.

Charting runs to integrated technical charting and indicators. Additional tools include trading/charting technology integrated into HankoX. On mobile: proprietary, iOS and Android.

Markets, leverage and execution6.8/10

Hankotrade covers Forex, Indices, Commodities, Metals, Energies, Cryptocurrencies. That comes to 100+ instruments in total. On the currency side specifically it lists 60+ pairs. Breadth is worth less than depth in the markets you actually trade - a hundred instruments priced well beats a thousand you will never open.

Leverage runs to 1:500 on the entity that offers most. That does not improve your expected return; it lowers the deposit a given position requires, and shortens the move needed to close you out. Whatever the headline, the number that governs your position is the margin requirement on the specific instrument - it is always lower on shares and crypto than on major currency pairs.

Execution is NDD, routing orders to external liquidity rather than pricing them internally. Measured speed is fast/instant execution advertised. Its servers sit in not publicly disclosed, which is what determines latency more than any software choice.

Order types available: market, limit, stop, stop-loss, take-profit and platform-specific pending orders. Stops and limits are table stakes; what separates platforms is whether the ones you rely on are there and how quickly they can be modified once a position is open.

Accounts

Account types run to STP, ECN, ECN Plus, Islamic, Demo. The minimum deposit is $15. The smallest position it will take is 0.01 lots, which is what actually governs how precisely you can size risk on a small account.

A demo account is available, which is the cheapest way to find out whether the platform suits you. Swap-free Islamic accounts are offered. Opening takes typically a few minutes.

Accounts can be denominated in USD, CAD, EUR, AUD. Funding in the currency you trade removes a conversion charge from every position, which is a small saving repeated indefinitely.

Deposits and withdrawals

Deposits can be made by Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, USDT, USDC, TrueUSD. They clear in instant.

Withdrawals go out by cryptocurrency. Expect processed within 24 business hours. The minimum withdrawal is $50 for fee-free withdrawals. Check the withdrawal routes rather than the deposit ones. They are frequently not the same list, anti-money-laundering rules usually require funds to return the way they came, and the difference only becomes apparent at the point you want your money back.

Local payment methods include no - which matters more than it looks if you are outside the broker's home market, since an international wire is slow and expensive compared with a domestic transfer.

Support and education3.9/10

Support runs 24/5, which covers the trading week but not the weekend - relevant if you hold positions through it, and particularly if you trade crypto. You can reach them by live chat, email, phone, Skype/contact form. Live chat typically answers in within minutes. Support is offered in english primarily.

On education: Basic: FAQs, platform/account guidance and trading information. Research output covers limited.

The company behind the brand

The company behind the brand is Hankotrade Global Markets Limited, registered as Not publicly disclosed. It operates from Belize City, Belize. It has been trading since 2018, so there is about 8 years of record to look at.

It is independently owned rather than part of a larger group. It is privately held, so its finances are not published the way a listed group's are. Headcount is in the Approx. 10-50 range.

You may also see it under Hankotrade; HankoTrade. Brands and legal entities rarely map one to one in this industry, and the name on the website is not always the name on the client agreement.