Hankotrade Review

Today’s Hankotrade broker review provides an in-depth analysis of the Hankotrade platform and its services. This review will help you decide to sign up with Hankotrade to excel at your trading game.

Hankotrade is a registered trading broker based in Dubai, UAE, providing trading opportunities in products like Forex, Commodities, CFD indices, and Cryptocurrencies. The motto behind Hankotrade is to provide a trading ecosystem beneficial to everyone. 

Opening an Account with Hankotrade

 Here’s a step-by-step guide for opening a trading account with Hankotrade:

1. Go to the Hankotrade broker’s homepage and click the ‘register’ live account option.
2. Fill up the registration form, agree to the terms and conditions, and click to sign up. We highly encourage our audience to read the broker’s terms and conditions before agreeing to them.

Salient Features of Hankotrade

1.Tight Spreads 

Hankotrade provides tight spreads to its users so they can have the best trading experience. These spreads may vary from one account type to another but are extremely low. The spreads start from 0.7 in the STP account and go as low as 0.0 in ECN and ECN plus accounts. 

Looking at these fantastic spreads, it wouldn’t be wrong to call Hankotrade one of the market’s zero-spread Forex brokers.

Moving on to 2nd feature of Hankotrade:

2.Multiple Account Types

Hankotrade offers 3 different account types with minimum deposits between $10 and $1000. 

• STP for $10
• ECN for $100
• ECN PLUS for $1000

It also offers these accounts free of swap for Muslim traders. Up next, we will discuss the following:

3.Reasonable Commissions 

Hankotrade ensures that it’s not killing the profits of its traders with high commissions. It envisions its users bagging most of their profit with meager commission rates. 

The STP account is commission-free, while ECN and ECN Plus have reasonable commission rates of $2 and $1 per side per $100k traded. 

After commission, we will now talk about the most crucial feature of a trading account:

4.Max Leverage 

Leverage allows traders to opt for greater positions even with a limited trading fund in their account. Most brokers provide higher leverage to bigger trading accounts used by seasoned traders. However, Hankotrade provides leverage up to 1:500 on all its trading accounts.

All traders can benefit from this leverage ratio, irrespective of their trading account. Another lucrative feature of Hankotrade is its negative balance protection.

5.Negative Balance Protection

If a deal goes sideways, Hankotrade ensures its users are unaffected by these unforeseen circumstances. Thanks to its negative balance protection feature. This feature is present in all 4 account types. 

Besides this safety feature, Hankotrade fosters inclusivity in its customer base. For this purpose, they offer a special account for Muslim traders.

6.Swap Free Accounts for Muslims

Swap-free or Islamic accounts are available for Muslim traders in Hankotrade to trade within their religious bounds.

Trading Terminals of Hankotrade Broker

Hankotrade provides users with the best trading terminals in the trading market: Meta trader 4 and Meta trader 5. Having options for both trading terminals allows traders to choose according to their needs and styles.

Both MT4 and MT5 terminals are available for windows, mac, web trader, android, and iOS so that traders can access them anywhere on any device. 

Customers Care Unit  

Hankotrade does not back off when it comes to on-point customer service. They provide 3 different modes of communication for customers to reach out to them. 

1.Live Chat Support

To get immediate help, Hankotrade provides live chat support to its customers.

2.Contact Form

If your query is more detailed and complex, you can fill up the contact form in the about us section of the broker’s website.

3.Emails and Calls

Traders and prospective clients can also connect via telephone and Skype with a broker. The details are mentioned in the contact us section of their website.

Hankotrade’s Customers’ Satisfaction 

Over the years, Hankotrade has served thousands of clients as a trading broker worldwide.

According to review websites like Trust pilot Hankotrade seems to be a good trading platform with a high customer satisfaction rate. Hankotrade’s overall rating stands at 4.8 stars out of 5 on Trustpilot.com, which indicates the broker’s reliability and excellent services. 

Educational Resources

Hankotrade provides additional educational resources to its customers. Some of them are as follows:

1.FAQs

FAQs are a helpful resource of frequently asked questions, with their answers available on the FAQs section of the broker’s website. You will find most of your queries already answered in this section.

 2.Demo Accounts

Most new traders feel uncertain about the reliability of a trading broker until they are given practical proof. For this reason, Hankotrade allows its users to initiate trades in its demo account so traders can get first-hand experience and decide if it’s worth it to invest with them or not.

3.Terms, Conditions, And Policies

Hankotrade has provided detailed information about their legality, terms, conditions, and essential trading policies that you should follow to stay safe and trade within legal means.

Areas of Improvement for Hankotrade

Some of the areas where Hankotrade needs improvements to make its platform more premium and reliable for traders are as follows:

1.Introduce More Funding Methods 

Hankotrade’s funding method is just limited to cryptocurrencies. This can limit their customer base to only regions where cryptocurrencies are regulated. Thus, Hankotrade should introduce more deposit options, such as bank transfers, to allow more people to join its platform. 

2.More Educational Resources 

Regarding educational resources, Hankotrade has done a decent job providing relevant information to its users, but it isn’t perfect and has room for improvement. Providing more educational resources can significantly increase the trust of customers in the broker.

Final Thoughts on Hankotrade Broker

Hankotrade is a broker that has been in the market for some time. While it may not be as large as some competitors, a thorough analysis of its services indicates that it is a reliable broker with a growing reputation. 

We encourage our readers to conduct their research to make an informed decision rather than relying solely on our review. This approach can help ensure that decisions are made based on rational considerations.

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• Source: https://forexprofitindicators.com/hankotrade-review/