Hankotrade Broker Review: Is It the Best Broker for Forex Traders in 2023?

In this Hankotrade broker review, we will walk you through the in-depth analysis of Hankotrade Forex broker, how it works, and whether it’s the right broker for you.

Let’s get started.

What is Hankotrade?

With Hankotrade, traders and investors have access to a foreign exchange platform designed to assist them and enhance their trading experience. Since 2018, Hankotrade has offered its clients exceptional investment opportunities and various trading tools.

Let us dig a little deeper and find out the chief characteristics of Hankotrade broker.

What Are the Top Features of Hankotrade Broker?

• Excellent Customer Service

A customer service staff is assigned to cater to the problems and queries of customers. You can contact the customer service representative via email, social media, or live chat, and you can even visit their office in Seychelles.

Live chat is the most convenient way of connecting with Hankotrade brokers since it’s available 24/7.

You can read more Hankotrade reviews on fx-list.com

Moving on to the 2nd characteristic of Hankotrade broker.

• Offer Low Spread

Higher profit margins are offered to traders by the lowest commission Forex brokers with low spreads. This is because there is a reduced difference between the asking price and the bid. This enables you to invest more money without being concerned about high charges or a high volume of deals.

Hankotrade offers multiple accounts with different pip rates. The STP account offers 0.7 pips, and the other two accounts, ECN and ECN Plus, have zero pips. A zero-spread Forex broker can be a better choice when you don’t have much money to invest.

Next, we will discuss the chief feature of Hankotrade:

• Minimum Deposit

Usually, trading platforms with low or zero spread have maximum initial deposits. However, the minimum deposit to open an account with Hankotrade is $10 only.

It’s ideal for newbies to get started with the minimum deposit STP account. Customers can also avail of the ENC Account, which has a minimum deposit of $100.

Moreover, professionals are recommended to open the most popular ENC Plus account with a minimum deposit of $1000.

Up next, we have:

• Maximum Leverage

Trading in Forex, share CFDs, crypto CFDs, and indices requires an understanding of leverage. It makes trading more accessible and easier.

Take it as when you borrow money from the bank to purchase a property. The bank will make up the rest if you can pay a portion of the full price. When used in trading, it entails putting up a percentage of the whole deal amount and your broker covering the balance.

Suppose a trader has $100 in their live account and needs more money to make a trade. Then he avails the option of leverage. It is enticing for many traders to enter the market and control the larger funds with the little funds.

However, it’s crucial to remember that leverage and margin trading can have a double-edged effect by amplifying both gains and losses.

All the trading accounts provided by Hanko trade offer 1:500 leverage.

The last feature of Hankotrade on our today’s list is:

• Demo Accounts

Trusting a broker with your assets directly on the live account can be difficult for a beginner trader still searching for the right broker. Hankotrade has resolved this problem by providing free demo accounts.

Customers can begin with demo accounts with virtual funds and practice trading to avoid financial risk. You may easily transition to a live account whenever you’re ready.

How to Register and Open an Account with Hankotrade?

Hankotrade has made registering easier and more convenient for its customers. All you have to do is follow the few simple steps below.

• Go to the Hankotrade official website
• Click on the registration form
• Enter the required details and submit the form.
• After your information is verified, your registration gets confirmed.
• Choose your account type.
• Deposit money and start trading.

Does Hankotrade Charge a Withdrawal Fee?

Most of the platforms you have earned money from charge withdrawal fees, whether you are freelancing or earning even a dollar bill through the platform.

Hankotrade adheres to a no-fee policy for its clients for deposits and withdrawals. You can quickly withdraw money from your account without incurring any charges or deductions.

Also, it does not take months to get your withdrawal request processed; it gets completed in one business day.

The following video by Mr. Patrick Ryan, a successful trader, shows how quickly Hankotrade processes withdrawal requests:

Referral Program of Hankotrade

Whether you are an individual client or a company introducing a broker to new clients will give you bonus profit. Earn up to 40% commission on the traded volume of the people you start recommending, whether they are friends, family, or office colleagues.

The advanced funding technology and great customer service made it easier for the third party to invite an affiliate. You can avail of the 40% commission only if your client account type is either ECN or ECN.

To find out more information about how much profit you will earn by introducing the Hankotrade broker program. Enter your client account type and your client’s volume. It will display the commission per lot and your total commission.

How to Sign Up for an ‘Introducing Broker’ Program?

To sign up for introducing a broker account, follow these 4 simple steps.

• First, you need to Register your account on Hankotrade.
• Secondly, Hankotrade will authorize your registration details and verify your details.
• Next, you need to become an introducing broker and refer others.
• As soon as the person you invite starts trading using Hankotrade broker, you can collect your bonus commission.

Visit this link to sign up for the Introducing Broker program: https://hankotrade.com/ib

Hankotrade Broker Review: In a Nutshell

Before choosing a broker, check its authenticity and whether you can trust the broker with your assets. Finding a genuine and trustworthy trading broker might be difficult since the financial trading world is not all black and white, and you never know who might lure you into their fraud trap.

Professional traders almost always favor brokers who provide them with protection and safety. It is strongly encouraged that prospective traders conduct a thorough investigation of the broker before signing up with them.

If you are planning to open your trading account with Hankotrade, do your research, read plenty of Hankotrade reviews, visit the broker’s website, and then make your final call.