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Hankotrade Review: Read This Before You Open an Account

In today’s review of Hankotrade broker, we will discuss if Hankotrade broker is a legit trading broker or another scam on the internet.

Hankotrade is a Forex, CFD, commodities, and cryptocurrency broker established in 2018 with a vision to serve a diverse clientele worldwide.

What Is the Execution Model of Hankotrade?

Hankotrade is an ECN Plus Forex broker with an automated no-dealing desk execution model ensuring liquidity.

What Types of Trading Accounts Does Hankotrade Offer?

Hankotrade has divided its account choices into three categories: An entry-level Forex trading account is called an STP account. This beginner-friendly account offers exceptional trading opportunities. 

The other two accounts are ECN and ECN Plus, with a minimal commission and tight spread starting from 0.0 pips.

Does Hankotrade Broker Charge a Reasonable Commission?

Yes, Hankotrade broker offers zero commissions for STP accounts. They charge a reasonable fee of $2 per side per $100k traded for ECN and $1 per side per $100k traded for ECN Plus accounts.

Where Is Hankotrade’s Headquarters? 

Hankotrade is an ECN Forex broker company situated in Dubai, United Arab Emirates.

Does Hankotrade Provide Protection Against Negative Balances?

Hankotrade is a highly reputable and reliable broker that puts the safety and security of its clients’ funds as a top priority. One of the ways they do this is by offering negative balance protection, a unique risk management feature that provides an extra layer of protection to clients’ accounts.

Negative balance protection ensures that traders’ account balances cannot fall below zero, even during highly volatile market conditions or unexpected market events. This means that clients can trade confidently, knowing that they will never lose more than their initial investment and will not be liable for any negative balances.

This feature is especially beneficial for novice traders who may not be familiar with the risks associated with leveraged trading. 

How Quickly Does Hankotrade Processes Withdrawal Requests?

Hankotrade broker is known for its responsible and efficient approach to handling withdrawals. Traders have reported that the withdrawal process is generally swift, with most requests being processed within 3 to 4 hours. 

This relatively quick processing time has garnered positive feedback from many traders who appreciate the timely manner in which their withdrawal requests are handled.

Hankotrade Withdrawal Evidences

Check out the following screenshots of the withdrawal update emails shared by the real traders on different forums:

Is It Possible to Request a Withdrawal of Funds for Any Open Positions Held with Hankotrade?

You can only request a withdrawal from your live trading account while still holding an open position if the following conditions are met:

  1. You have enough margin in your account
  2. You have correctly filled out the withdrawal form
  3. You have closed the open position.

If these conditions are met, you may proceed with the withdrawal request.

Does Hankotrade Provide a Demo Account?

Yes, Hankotrade provides a demo account with considerable virtual funds to make it helpful for new traders to learn to trade. Additionally, experienced traders can backtest their strategy to determine if it will be fruitful or catastrophic for their trading account. 

Does Hankotrade Offer Swap-Free Accounts for Its Muslim Clients?

Hankotrade broker embraces diversity and aims to cater to all types of traders, irrespective of their cultural or religious beliefs. To help its Muslim customers, Hankotrade provides swap-free accounts that comply with Shariah law.

How Do I Reach Out to Hankotrade Broker?

You can reach out to Hankotrade broker in three ways. Hankotrade has made it easier for customers to resolve their problems.

  1. They have a contact form. The customer care form is available on Hankotrade’s official website. Clients can fill out the form, explain their concerns, and include contact information. Hankotrade’s customer service representative will investigate the issue and reply.
  1. The broker also provides a live chat system. The Live chat service is the best option if you want your queries answered instantly. They have active customer care staff on the board 24/7 to assist the clients.
  1. You can also connect with the broker through email or phone calls. Navigate through their website to find out more details about their contact information.

Which Trading Terminals Does Hankotrade Broker Support?

MetaTrader4 and MetaTrader5 are the main trading platforms Hankotrade provides its customers. Among traders’ preferred trading platforms, MT4 is one of the safest, most dependable, and most widely used. 

In addition, the traders have a choice of MT5, which has enhanced capabilities and conducts transactions immediately and without latency.

Does Hankotrade Impose an Inactivity Fee?

No, Hankotrade does not impose an inactivity fee. You don’t need to worry about your assets as long as you are associated with Hankotrade broker. 

Suppose you haven’t used your account in a while. In that case, the next time you log in; your balance will be the same as it was before. Hankotrade won’t deduct a dime for being inactive.

What Is Hankotrade’s Minimum Deposit Amount?

The minimum deposit amount of Hankotrade is only $10. This amount is ideal for new traders who want to enter the trading universe without emptying their pockets. 

Does Hankotrade Provide Any Additional Tools?

 Hankotrade provides these 3 kinds of additional tools: calculator, VPS, and E-calendar.

  1. A Forex calculator is a handy tool that can help you to analyze and predict the movements of the foreign exchange market. 
  1. A VPS allows traders to tailor their hosting environment to their specific needs. 
  1. Hankotrade’s e-calendar informs traders about any new event, fluctuation, or downfall in the market to help them make informed decisions.

Is Hankotrade a Reliable Broker?

Hankotrade has earned plenty of positive reviews and excellent ratings on dozens of authentic review websites. The traders appreciate the broker’s transparency, low costs, and premium customer service.

Take a look at the top customer testimonials shared by traders on different review posting platforms:

Hankotrade Customer Testimonials on Trustpilot.com 

Hankotrade Customer Testimonials on Sitejabber.com 

Hankotrade Customer Testimonials on Brokerxplorer.com 

Hankotrade Customer Testimonials on Sitejabber.com

Hankotrade Customer Testimonials on Fx-list.com

Hankotrade Customer Testimonials on Forbino.com

Is Hankotrade a Secure Trading Platform?

Due to the high number of fraudsters in the industry, safety and security are of utmost importance to customers. Hankotrade provides its clients with a safe and secure environment by protecting their personal trading details.

Each user account is connected to a secured network to avoid the breach of privacy and data leakage. Moreover, the broker uses SSL encryption to prevent hacking attempts on traders’ accounts.

Is Hankotrade a Good Broker?

Hankotrade qualifies as a good broker because of its outstanding customer feedback, zero commission, various account types, tight spread, maximum leverage, and wide range of trading tools. 

Moreover, Hankotrade gives its traders a 100% sign-up bonus to allow them to open major trades than their existing resources. Besides the 100% deposit bonus, traders can also enjoy referral commissions by signing up for the Introducing Forex Broker program.

Hankotrade provides everything a trader needs to get better investment opportunities under one platform.

The Bottom Line: Is It Worth Signing Up with Hankotrade Broker?

After discussing the major characteristics of Hankotrade broker, it is safe to say that it’s legit, and traders won’t regret signing up.

We completely understand if you are confused about signing up with Hankotrade. When asked to try a new broker, it is natural to feel apprehensive about your assets and safety. But we have a feasible solution for you. Instead of making heavy deposits, open a basic STP account with just $10. Try the broker, take a closer look at its spreads and commissions, and then make your final call. 

We are positive that Hankotrade won’t disappoint you.

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