HankoTrade Review – Is it a Scam or Legit Broker (2024)

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this HankoTrade Review, we are going to take a look at the offer that this broker prepared for its traders. HankoTrade operates on the financial market since 2019. When it comes to trading platforms, the broker features WebTrader and MetaTrader 4. The HankoTrade minimum deposit is 10 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money

Basic information from this HankoTrade Review

Website address:hankotrade.com
Operated by: Hankotrade LLC
Licensed and authorised by regulatory bodies:
Supported languages:English
Customer support available via:E-mail, phone, live-chat
Contact details:[email protected] +44 20 8123 9377
Available deposit methods:Bitcon Bitcoin Cash, Ethereum, Litecoin, Ripple
Available withdrawal methods:Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple
Minimum deposit:10 USD
Min. trade in lots:0.01
Spreads:Typical spread on the currency pair EUR/USD - 2,0 pips * on standard account type
Tradable assets:
Might be a CFD.
Forex (45), cryptocurrencies (10)
Mobile app: Yes
MetaTrader 4:Yes
Other trading platforms:WebTrader
Maximum leverage:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions.

1:500
Social trading:No

HankoTrade Fees (typical spreads)

We have scanned fees (typical spreads) that HankoTrade charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
* 2,0* * * 0,2* *

*Typical spreads were recorded on 17.09.2020 at 09:49 for the standard account. HankoTrade spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: FXBTG.nz, TradeMax, PVPMarkets and HSB.id

Frequently Asked Questions

🧐 Is HankoTrade a Scam?

In accordance with our research, HankoTrade is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that HankoTrade is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the HankoTrade minimum deposit?

In order to start trading with HankoTrade, you have to deposit at least 10 USD (Trading accounts can also be held in USD).

📵 What deposit and withdrawal methods HankoTrade supports?

HankoTrade allows funding your account via Bitcon Bitcoin Cash, Ethereum, Litecoin, Ripple.

⚖️ Would you recommend me choosing HankoTrade?

We don’t have our own personal experience with HankoTrade. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider. While there is a decent chance that HankoTrade is not a scam, there is no reason to take the risk of trading trade with an unregulated broker, especially when considering there are hundreds of brokers regulated in the EU, Australia, Africa and the USA offering similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Spreads of the following companies can be as low as Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC FCAFSCA $ 10 MT4 & MT5 0.3 PIPs ¹
  • Competitive spreads
  • International support
Start tradingRead a review
CySECASIC £/€/$ 100 MT4 & MT5 1.0 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review
FCACySECASIC £/€/$ 0 MT4, MT5 & TradingView 1.0 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money

¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.

19 Comments

  • Was attracted by their offering. So, tested them out live. Instantly was surprised at how tight the spreads are in GBPUSD on my first try.

  • Coplete sham, they’ll “lose” your deposits in cryptospace.

  • Will they allow credit card deposits in the future? I’m tired of these fees in crypto.

  • Won’t let me withdraw my funds

    The website will not let me use 2fa and without it being enabled, my funds are not withdraw-able.

  • Liquidates your positions with abnormal price slippage !

  • I’m always a bit nervous when it comes to withdrawing my profits, but with hankotrade, I never have to worry. Their withdrawal process is speedy and easy to use. I’ve never had any issues with delays or complications unless there is a problem from my end. Overall I’m very satisfied with their service.

  • I recently decided to test out Hankotrade with a small $100 account, just to see what they were all about. I was pleasantly surprised to find that I was able to make some profits, and when it came time to withdraw my funds, I didn’t run into any issues. The process was smooth and hassle-free, which gave me some peace of mind.

  • I see mixed reviews here. This broker suits me.

  • I have to say, when I first started trading with Hanko Trade, I was a bit overwhelmed by the complexity of the platform and the trading process in general. But thanks to the professional assistance provided by their agents, I was able to get up to speed quickly and start trading with confidence.

  • Whether I’m using Expert Advisors (EAs) or crafting my unique approach, the flexibility provided is impressive. The broker did not tell me that my strategies were “high risk” they welcomed me with open arms and I trading just as I wanted.

  • Stop hunting is a common concern in the trading world, and it’s something I’ve been mindful of while trading with HankoTrade. Thankfully, I haven’t experienced any suspicious activities that suggest stop hunting. This broker appears to prioritize fair and transparent execution, Recommend.

  • In my opinion, opting for the ECNPlus with an Islamic account at Hanko Trade is the cost-effective choice. The broker’s competitive commission rates are already attractive, but with the ECNPlus account, I can save an additional $1 per lot compared to the ECN account, which charges $2/Lot. This aligns with my strategy, as the Islamic account incurs a minor administrative charge. Since I primarily trade EURAUD and EURCAD, factoring in the -30 points administrative charge for each trade, Hanko Trade remains the most economical choice in my view.

  • My experience with HankoTrade’s ECN account has been mostly positive. However, there’s a notable issue with their bonus policy. When a bonus is applied, the system sometimes fails to send a margin call notification. This proved troublesome as I ended up blowing two accounts without any warning, which left me baffled. I believe HankoTrade should address this promptly.
    Interestingly, since I haven’t opted for the bonus, my trading has been smooth with minimal slippage and solid execution.

  • Even though they only offer three crypto pairs, considering they aren’t a dedicated crypto broker, I find their spreads to be fair. The spreads for LTC-USD at 2.127, BTC-USD at 38.21, and ETH-USD at 11.401 seem reasonable given their broader focus.

  • HankoTrade has more pros than cons for me. Found through various trading communities, it’s a hidden gem

    Pros:
    – fast order execution
    – Responsive support
    -Cost-effective trading (Low commissions)
    – Quick registration
    – EA-friendly environment

    Cons:
    -Limited assets but favorable trading conditions
    -VPS services come at a cost

    I’ll be recommending HankoTrade to my followers for them to share this experience with me.

  • no problems so far. trading here for few years. for now they don’t offer mt4. tried their another platform, looks quite good.

  • No KYC broker and they are crypto friednly which is perfect for my goals, recommend.

  • quite well offered ECN account. No big headaches with slippage or spreads.

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