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One of the major mistakes new traders make at the beginning of their careers is choosing an incompetent Forex broker. Signing up with any broker you come across is not a smart move. You must spend considerable time searching for the best and most reliable Forex broker.
In today’s post, we will introduce you to Hankotrade. We will talk about this broker’s features, account types, fees, customer support, introducing Forex broker programs, and other tools. After reading this article, you can decide if Hankotrade broker is the right choice for you or not.
Introducing Hankotrade
Hankotrade is a CFD, Cryptocurrency, and ECN Forex broker, serving traders worldwide since 2018. Hankotrade has been established, managed, and run by a group of expert traders with ample trading experience in various major trading markets of the world.
Hankotrade endeavors to provide traders with a lucrative environment enabling them to unleash their full potential.
Trading Instruments
Hankotrade offers to trade in major currency pairs, international stocks, precious metals, energy sources, and popular cryptocurrencies.
The following are the account types offered by the broker:
Account Types
Currently, Hankotrade offers 4 major account types to its clients. These account types have been designed to accommodate every level of trader, from beginner to expert.
The first account type offered by Hankotrade is:
STP Account
STP account requires an initial deposit of $10, making it a good choice for new traders. The spreads on this account start from 0.7 pips, and the broker charges $0 commission, making it one of the lowest commission Forex brokers in the market.
Another plus point of this account is that the broker offers leverage up to 500 times. This enables traders to open bigger positions than their account balance.
Moving on to the next account type, which is:
ECN Account
ECN Account is ideal for beginner to intermediate Forex traders. The initial deposit required to open this account is $100. The spreads on this account are as low as 0.0 pips with $2 commission per side per $100k traded.
The leverage provided on this account is 1:500, which is much bigger than the other brokers.
The third type of account that it offers is:
ECN Plus
The ECN plus account’s zero spread and low commission make Hankotrade a zero-spread Forex broker in the market. The ECN plus account requires a deposit of $1,000, with 0.0 pips spread and just $1 commission per side per $100K traded.
The leverage offered on this account is also 1:500. You can open the ECN Plus account by visiting the following link: https://hankotrade.com/ecnPlus
The broker especially provides the next account type for its Muslim clients.
Islamic Swap-Free Account
Hankotrade offers Islamic accounts to its Muslim traders to trade according to Shariah laws and regulations. Traders can enjoy the features of any of the 3 accounts above without worrying about Swap on overnight positions.
Trading Tools
Advanced trading tools aid traders in the market to open successful trades and save time. Hankotrade offers 3 helpful tools on its website to help its clients:
Forex Calculators
Hankotrade provides 4 types of calculators on its website to enable traders to carry out quick calculations. These calculators include the commission, margin, pip, and swap calculator.
E-Calendar
Hankotrade understands the impact of economic and political events on the trading market. For this purpose, it provides an economic calendar on its website to alert traders of any upcoming event that can adversely affect the market.
Hankotrade’s e-calendar provides a rational forecast, shows patterns, and generates indicators and alerts to notify its clients of the changing environment of the trading world.
Virtual Private Server
This advanced tool by the broker ensures that the trader’s Forex trading system will operate smoothly, seamlessly, and effectively. The traders can observe trade signals and keep their trading system running with a virtual private server (VPS) without using a digital device around the clock.
A Virtual Private Server effectively decreases the chance of slippage due to its high speed. Because of that, there are fewer delays, more efficient trade execution, and increased transaction execution.
Moreover, Hankotrade’s VPS offers a dependable power supply. Hence, in the event of a localized power loss, you won’t be disconnected from the market, as the VPS will ensure that you stay in the market.
Are Traders Happy with Hankotrade’s Services in 2023?
Reading client testimonials is one of the best ways to assess the quality of a broker and its services.
Hankotrade has earned many positive reviews from experienced clients on multiple authentic review posting platforms. The following are some top reviews of Hankotrade on Trustpilot.com and Forex Peace Army.
Customer Service
Many Forex traders complain about the poor customer service of their brokers. A trader requires a quick and prompt response from his broker when he is stuck in a problem.
Hankotrade offers multiple contact channels to its clients. The broker has a separate ‘Contact Us’ section on its website which includes a contact form, live chat widget, email address, telephone number, and a physical address of the broker’s office.
Hankotrade Broker Review Conclusion: Is it the Right Broker for You?
Hankotrade is one of the lowest commission Forex brokers in the market that offers tight spreads and high leverage. Its account opening requirement is minimal and affordable for beginner traders.
Moreover, their customer care service is also top-notch. The positive reviews earned by this broker indicate that it is a good choice of broker for Forex traders.
You can visit Hankotrade’s website and social media handles to learn more about it. Furthermore, you can also head to credible review posting forums and websites to get an insight into broker’s services by reading testimonials of actual traders in the market.