Hankotrade Review: A Forex Broker With Access to CFDs and Crypto

This Trading Platform is available in Ukraine
Hankotrade has been helping forex traders since the 1980s. Now, it supports them with the ActTrader trading platform, multiple account types, and tight spreads.
* The amount that will be credited to the account in the case of a successful deal
* General Risk Warning: Your capital might be at risk
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- Summary of Hankotrade
- Pros and Cons
- Evaluating High Impact Factors
- Trade with Hankotrade If:
- Don’t Trade with Hankotrade If:
- Verified Office Address
- Expert Opinion on Hankotrade
- Expert Review of Hankotrade
- Signing Up with Hankotrade
- Dashboard Experience
- Deposits and Withdrawals
- Trading Conditions
- How to Start Trading on Hankotrade
- Useful Tools for Traders
- Investing Opportunities
- Hankotrade Affiliate Program
- Security Standards
- State of Customer Support
Home page: HankoTrade
Summary of Hankotrade
Hanktotrade is a forex broker that has withstood the test of time. It has been helping forex traders since the 1980s.
And it’s still there for them. With the ActTrader trading platform, multiple account types, and support for leveraged trading, Hankotrade has most bases covered.
Hankotrade earns a TB score of 6.7 out of 10 based on its tight spreads, straightforward signup flow, and diverse trading instruments.
Hankotrade is also one of the few brokers that allows you to withdraw trading commissions accrued via referrals.
100% Bonus: Hankotrade
But there’s even more to Hankotrade. In this review, I’ll go over different aspects of this broker to help you decide if it’s the right one for you.
Pros and Cons
Pros
- Competitive spreads
- 500x leverage on trades
- Cryptocurrency funding
- Prompt customer support
- Supports passive accounts
Cons
- Lightly regulated
- Limited withdrawal methods
- Recently lost its MT4/5 License
- Tether is only supported on the ERC-20 network, which might attract high transaction fees
Account segregation: Hankotrade
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Evaluating High Impact Factors
- User satisfaction: 7 / 10
- Regulation: 3 / 10
- Educational Content: 7 / 10
- Webinars: 7 / 10
- Spreads and commissions: 8 / 10
- Customer support: 8 / 10
ACT Trader: Hankotrade
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Trade with Hankotrade If:
You want to experience the perks of working with an ECN broker, where the focus is on tight spreads and massive trading volumes.
Hankotrade can route orders via the interbank market instead of desk brokers, making it one of the more trusted and credible forex brokers in the space.
All broker offerings: Hankotrade
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Don’t Trade with Hankotrade If:
You’re looking for a broker licensed by top-notch global regulatory bodies like CySec and FCA.
Hankotrade is only regulated by MISA, which doesn’t offer the same level of regulatory oversight as the more established names.
Verified Office Address
Hankotrade is registered under Hankotrade Global Markets, with a registered office in Belize, Central America. The physical address, however, is in Dubai:
- Citadel Tower, Office Number-2802, Business Bay, UAE.
Although the majority of its workforce is online, there are individuals working from the office.
Expert Opinion on Hankotrade
Experts on X (previously Twitter) mostly have negative feelings about this forex broker. Here are some recent testimonials:
“Warning! Hankotrade asked customers to transfer their funds to Fyntura… In 2023, Hankotrade found itself under the spotlight when WikiFX uncovered damning evidence against the company.”
Abdul, Crypto Trader: X
“I’m using Hankotrade. They are no longer with MT4 or 5, but they have a partner I can sign up with, Fyntura US client… I’ve heard Coinexx is a good option too.” (Edited for clarity.)
Gino Tamayo, Trader: X
Expert Review of Hankotrade
Despite the chatter online, I decided to test out Hanktorade for myself. Here’s what I found.
An Impressive Selection of Trading Instruments
Hankotrade primarily offers its users access to the forex market.
You can trade over 62 major, minor, and exotic forex pairs, with spreads starting as low as 0.0 pips. And yes, for higher spreads (say, the exotic pairs) using the VPS can help with latency.
Here are just some of forex pairs offered by Hankotrade:
Key forex pairs list 1
Key forex pairs list 2
This broker also offers some of the best commodity picks, including metals and oil. Here is the complete list of offerings, with spreads starting at 0.7 pips:
Commodity pairs
Hankotrade also supports Index-based CFDs (or Contract for Differences). CFDs bet on future price movements for a given asset, making them one of the more aggressive trading instruments. The Hankotrade website, however, doesn’t always reflect the index CFDS (a complaint I’ve raised with the support team).
An issue with Index spot listing: Hankotrade
Currently, the platform supports three pairs of cryptocurrency: LTC-USD, BTC-USD, and ETH-USD.
Choice of Accounts
Hankotrade offers three account types: STP, ECN, and ECN+.
Each type of account can also be converted into an Islamic swap-free account.
I started simple, with an STP account. It has a $10 minimum deposit and zero commissions, making it very accessible.
STP account
To enjoy starting spreads at 0.0 pips, you can start with an ECN or even an ECN+ account.
ECN account
Demo Support
If you’re new to trading, you can create a demo account to help you learn the ropes.
There’s also a convenient option to simply log into the demo trading interface if you already have a live account.
Demo account: Hankotrade
The trading interface lists the market depth, related order book insights, and other details specific to the account.
Video Resources
Hankotrade keeps things simple when it comes to educating new traders. They run a dedicated YouTube channel where they host tutorials for using the ACT Trader interface.
YouTube resources: Hankotrade
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Signing Up with Hankotrade
Signing up with Hankotrade is a simple four-step process:
- Click “Register” at the top of the homepage
- Fill in your info (name, email, country of residence, phone number)
- Read and agree to the Terms and Conditions and the General Risk Disclosure
- Click the “Sign Up” button
This should be quick, but I had to wait a while for the system to process the information. Most platform signups don’t involve a lengthy buffering period like this, so I found that a bit annoying.
Slow login process: Hankotrade
Once you make it to the dashboard, you’ll be asked to verify your email using a six-digit code. Once you do, you’ll be able to start trading and using the platform’s features.
I had some issues at this stage, too. It took multiple attempts to verify my email because I kept getting an “Invalid Code” error message despite typing in the right one. So, that’s something to be aware of when you go through the signup process.
Dashboard Experience
The Hankotrade dashboard is minimal – and that’s a good thing.
Check out the screenshot below. You can see the Quick Links section on the right, which gives you access to everything from account types to FX calculators.
There’s no fluff, no need to search for what you need, and no confusing tabs to navigate. It’s all right there.
Broker dashboard: Hankotrade
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Deposits and Withdrawals
One of the better aspects of the Hankotrade is how it handles funding your account and withdrawing your funds from it.
It only supports crypto deposits and withdrawals, which you can complete using any of the following tokens:
- Bitcoin
- Litecoin
- Ethereum (ETH network)
- TrueUSD (ETH network)
- USDC (ETH network)
- Bitcoin Cash
- Dogecoin
- Tether (ERC 20 Address)
Hankotrade doesn’t levy any deposit or withdrawal charges. The only thing you need to pay is the network fee, which is the case for any crypto transaction.
Funding methods verified: Hankotrade
I had some ERC-20 Tether sitting in my MetaMask account, and I could easily transfer it to my Hankotrade wallet.
I would still appreciate TRC-20 Tether support, however. With it, every trader could pay lower gas fees.
Trading Conditions
The spreads and commissions on HankoTrade are account-specific:
- STP and Islamic Accounts: 0.7 pips, zero commissions
- ECN: 0.0 pips, $2 commission per lot per side
- ECN+: 0.0 pips, $1 commission per lot per side
Fee structure verified by broker: Hankotrade
Another exciting thing about Hankotrade is that it platform doesn’t levy any inactivity fees.
Also, despite having spreads starting at 0.7 pips, the broker usually offers raw spreads to trade, which can go down depending on volatility and market liquidity.
How to Start Trading on Hankotrade
Once you created an account and verified your email, you can start trading.
ActTrader, Hankotrade’s proprietary trading platform, takes cues from MetaTrader 4 and MetaTrader 5 and can be used as an Android app, Desktop app, iOS app, or web interface.
Here are the features specific to each platform.
Desktop App
- Powered by MT4-like features
- Packed with 50+ indicators
- Optimized for the wider screen
- Easy to download and install
iOS App (ActPhone)
- Secured by biometrics
- Improved charting experience
- Supports price quotes up to 8 decimal places
- Live streamed rates
- Easy order management
Android App (ACTDroid)
- Features account monitoring tools
- Access to 48+ indicators
- Built-in language translator
Web Platform
- Customizable platform
- Offers insights related to the account types
- Multi-window platform
- Supports visual algorithmic trading via advisors
No matter which option you choose, Act Trader lets you work with 11 time frames and even place four pending order types, regardless of the trading instrument.
Useful Tools for Traders
Users can access the following tools and resources on Hankotrade:
- Advanced charting support via the Act Trader interface
- Multiple technical indicators and expert advisors for automated trading
- Customizable indicators, courtesy of MQL programming language implementation
- Forex calculator to help you identify the commissions, margin, Pip, swap rates, and more
- Virtual private server (VPS) for lowering latency, which can minimize forex-specific slippages
- An economic calendar that tracks key market-related world events
Investing Opportunities
As a trader, I mostly liked messing around with the trading tools on Hankotrade. But the broker also provides other opportunities for users to earn.
Even though copy trading isn’t available, I was pleased to see that PAMM and MAM accounts were supported.
Passive income accounts: Hankotrade
However, to start either of these, you need to work with two sub-accounts. You also need a main account balance higher than $10,000. Yes, these passive investing accounts are appealing, but they’re meant for high-value investors only.
Once you open one of these accounts and register as a manager, you can assign what percentage of client profits you want to receive.
PAMM/MAM accounts on HankoTrade have a minimum trade size threshold of 0.01 lots.
Hankotrade Affiliate Program
Hankotrade features a highly rewarding affiliate program called Introducing Brokers (IB). For users who can leverage their network or audience, this is a powerful opportunity, since referrers can earn up to 40% of traded volume from commissions.
Opening an IB account is as easy as it gets. Simply opt-in to become an affiliate, get a referral link, and use it to invite traders to the platform.
Calculating the affiliate fee: Hankotrade
Affiliate account: Hankotrade
As an IB account holder, you can also earn by inviting others to join the affiliate program.
Security Standards
Hankotrade implements a number of safeguards:
- Separate accounts to keep client funds safe
- Two-factor authentication
- Secure SSL encryption
- Advanced encryption standards
- Client funds kept in cold wallets, with private keys stored elsewhere on offline devices
Their homepage also includes a Risk Disclosure statement for CFDs and a Restricted Countries disclaimer to encourage users to be proactive about securing their investments.
Security standards and disclosure: Hankotrade
State of Customer Support
I was impressed by Hankotrade’s security catalog, but I was having issues with the one-time password and decided to raise a ticket. The support I got was speedy and my issue was resolved efficiently.
If you have any issues of concerns, you can get in touch with the Hankotrade support team in a number of ways:
- Emailing them at [email protected] for more descriptive concerns (typical response time is under 24 hours)
- Calling them at 1-607-558-0575 (available 24/5)
- Opening a livechat window to speak with an actual human being (not a chatbot)
Customer support and live chat support: Hankotrade
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