HankoTrade Review 2025
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Updated:
Reason to avoid: Offshore
Listed Date: September 14, 2023
Top 3 Forex Brokers
Beware HankoTrade is a Non-Regulated Broker. It is NOT SAFE to trade
Advertising Disclosure
Updated:
Reason to avoid: Offshore
Listed Date: September 14, 2023
Beware HankoTrade is a Non-Regulated Broker. It is NOT SAFE to trade
No, it is not safe to sign in with HankoTrade. The broker is registered with the Financial Services Authority of Seychelles (FSA). It is a known fact that Seychelles is an offshore zone, thus it does not provide sufficient protection and does not oversee the financial companies registered under it.
🏢 Registered in | Seychelles |
🗺️ Type of License | Offshore |
🛡️ Is HankoTrade safe to trade? | No |
🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Hankotrade distinguishes itself as an ECN (Electronic Communication Network) broker, emphasizing its commitment to providing exceptional trading conditions (tight spreads, no commission, etc.) coupled with some of the most competitive commissions within the industry. As an ECN broker, Hankotrade promptly transmits client orders directly to liquidity providers.
However, we conducted detailed research on the broker and were able to make revelations that will help traders have more insight into the broker before making a decision to sign with it.
Here are the main points to consider:
Based on our extensive experience of over a decade in Forex trading, our research has uncovered concerns related to the reliability and regulatory compliance of HankoTrade. Consequently, we are unable to rank HankoTrade positively.
Ranking | HankoTrade | XM | FXTM |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Trading environment | Trading Conditions |
Based on the safety concerns associated with HankoTrade, we strongly advise considering better alternatives with stringent regulations and better trading conditions. Below, we present a list of reputable brokers with reliable options and safe conditions for your comparison:
HankoTrade sets a minimum deposit requirement of $10 for STP accounts and $100 for ECN accounts. If you're interested in an ECN Plus account, the minimum deposit is $1000. HankoTrade does not impose any fees on deposits or withdrawals for its clients.
HankoTrade provides three main account types: the STP account, the ECN account, and the ECN Plus account. Additionally, an Islamic account is also available. To gain comprehensive information about each of these account types, you can visit the 'Account Types' section on the broker's website. HankoTrade enables its clients to run both live and Demo accounts at the same time by simply installing the MT4 platform for each of HankoTrade's forex trading accounts.
Based on the information we have gathered about HankoTrade, it raises concerns about the broker's reliability and trustworthiness. While the broker's features and offerings may seem appealing, the fact that it is registered in an offshore zone (Seychelles) is a significant red flag that traders should carefully consider. Additionally, negative trader feedback and reviews further contribute to our reservations about signing up with this broker.
Our recommendation is to find a broker with a license from reputable authorities, such as FCA, ASIC, or CySEC. Some notable options to consider among reliable brokers with good standing include but are not limited to Go Markets, BlackBull Markets, and FP Markets.
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