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

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

This Trading Platform is available in Ukraine

4.7/5

Hankotrade has been helping forex traders since the 1980s. Now, it supports them with the ActTrader trading platform, multiple account types, and tight spreads.

Min. deposit
$10
Website address
Demo account
Yes
Currency
CADCryptocurrencyEURUSD
Supported languages
Eng
Active
Yes
MetaTrader 4
Yes
MetaTrader 5
Yes
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
Yes
Trading Central
No
Autochartist
No
eSignal
No
STP Account
No
ECN Account
Yes
DMA Account
Yes
MAM Account
Yes
PAMM Account
Yes
LAMM Account
Yes
Demat Account
Yes
Mobile Apps
ACTDroid and ACTPhone for Android and iOS
Margin Trading
Yes
Volatility Index
Yes
Spot Trading
Yes
Perpetual Swaps
Yes
ELWs
Yes
REITs
Yes
AI / Machine Learning
Yes
Robo Advisor
Yes
P2P Trading
Yes
Negative Balance Protection
Yes
VPS Hosting
Yes
Tournaments
Yes
Demo Competitions
Yes
Managed Accounts
Yes
Market Maker
Yes
Auto Trading
Yes
Social Trading
Yes
Copy Trading
Yes
Trade Signals
No
Islamic Account
Yes
Guaranteed Stop Loss
Yes
Forex GBPUSD Spread
N/A
Forex EURUSD Spread
N/A
Crypto Lending
Yes
Crypto Staking
Yes
Crypto Mining
Yes
Crypto Auto Market Maker
Yes
Ladder Options
Yes
Boundary Options
Yes
Show all >>

* 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

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 4.7,
according to 1945 reviews

4.5 Stars
AYO REVILO
AYO REVILO
stars
us
The experience was great because, i received assistance in a timely manner and they were patient with me. Also was able to help me with my situation. Would recommend!!

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Maribeli Galan
Maribeli Galan
stars
us
Michael, helped me resolve missue very quickly! Cannot express how great they are with customer service!

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jordan
jordan
stars
us
true story, been here 1 year. no money delays customer service is on point. I fcks with them. no lies

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Gabrielle Harris
Gabrielle Harris
stars
us
Today I wasn't sure of the trading hours because of the Holiday. I got Mike. He answered my questions and went above and beyond! Very helpful and patient! I love this app!

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Angelique Louis
Angelique Louis
stars
us
Support chat was very helpful and answered my questions swiftly. This is how support should operate - thank you

View all

CJ
CJ
stars
us
Sammie is awesome! helped me out with same day withdraw on my account. This is honestly the best and recommend broker to use.

View all

Content

HankoTrade homepage

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 illustration

Hankotrade is also one of the few brokers that allows you to withdraw trading commissions accrued via referrals.

HankoTrade bonus

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.

Further reading

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

HankoTrade account segregation

Account segregation: Hankotrade

Further reading

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

HankoTrade ACT trader

ACT Trader: Hankotrade

Further reading

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.

HankoTrade offerings

All broker offerings: Hankotrade

Further reading

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.

Further reading

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.

Further reading

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

HankoTrade review 1

“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

HankoTrade review 2

Further reading

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:

HankoTrade forex

Key forex pairs list 1

Key Forex pairs list 2

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:

HankoTrade commodity pairs

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).

CFD indices HankoTrade

An issue with Index spot listing: Hankotrade

Currently, the platform supports three pairs of cryptocurrency: LTC-USD, BTC-USD, and ETH-USD.

Cryptocurrency pairs HankoTrade

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.

HankoTrade STP

STP account

To enjoy starting spreads at 0.0 pips, you can start with an ECN or even an ECN+ account.

HankoTrade ECN

ECN account

HankoTrade ECN plus

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.

HankoTrade demo 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.

HankoTrade youtube

YouTube resources: Hankotrade

Further reading

Signing Up with Hankotrade

Signing up with Hankotrade is a simple four-step process:

  1. Click “Register” at the top of the homepage
  2. Fill in your info (name, email, country of residence, phone number)
  3. Read and agree to the Terms and Conditions and the General Risk Disclosure
  4. 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.

HankoTrade login

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.

HankoTrade verification

Further reading

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.

HankoTrade dashboard

Broker dashboard: Hankotrade

Further reading

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.

HankoTrade cryptocurrencies supported

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.

Further reading

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

HankoTrade fees

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.

Further reading

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

HankoTrade iOS

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.

Further reading

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

HankoTrade commission calculator

Further reading

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.

HankoTrade PAAM accounts

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.

Further reading

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.

HankoTrade affiliate fee

Calculating the affiliate fee: Hankotrade

HankoTrade introducing broker account

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.

HankoTrade security standards

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)

HankoTrade support

Customer support and live chat support: Hankotrade

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