It's alarming how people struggle to find the right broker who provides a safe and secure trading platform. Since the foreign exchange market is highly volatile, there is an increased chance of getting scammed.
Today's post will be introducing a Forex broker that has gained immense appreciation from plenty of traders - Hankotrade. Keep reading this Hankotrade review post to uncover all the features, working, and fees of this amazing Forex broker.
Let's get started.
4 Top Features of Hankotrade
Let's begin with a short introduction to Hankotrade brokers.
Hankotrade broker has been serving its customers since 2018. They are a team of professional individuals who facilitate customers with foreign exchange services and provide ease during trading.
Next, we will discuss the fee and commission criteria of Hankotrade.
Usually, the fee and commission structure of most of the trading platforms charge a hefty amount that drains half of the customer's money, leaving them with less money to invest during trading. Hankotrade has retained its customers through its fee and commission policy. Continue reading to read the good news.
Surprisingly the commission fee set by Hankotrade is amazingly minimal, which makes Hankotrade the lowest commission Forex broker in the market.
Hankotrade offers multiple accounts for each type of trade. Investors who want to maintain positions for an extended length of time may prefer cheaper fees. The commission fee for the STP account is zero. In contrast, the commission of ECN and ECN PLUS is $2 per side per 100k and $1 per side per 100k, respectively.
The spread on the STP trading account starts from 0.7 pips. The spreads are as low as 0.0 pips in ECN and ECN Plus accounts. These tight-spread offerings make Hankotrade one of the few zero-spread Forex brokers.
3. Deposit and Withdrawal Fee
Hankotrade does not impose any fees on its customers' deposits or withdrawals. They operate under a "zero fees" policy. That means there will be no deductions from the account.
4. Inactivity Fee
You don't need to worry about your assets as long as you are associated with Hankotrade broker. Let's say you haven't used your account in a while; the next time you log in, your balance will be the same as before.
Hankotrade Customer Support Quality
Hankotrade has made it easier for customers to resolve their problems. Below are multiple ways you can connect with the broker.
1. 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 get back to you.
2. Live chat
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.
3. Call and Email
Contact your broker through phone call or email. Navigate through their website to find out more details about their contact information.
Which Trading Platforms Does Hankotrade Offers?
MetaTrader 4 and MetaTrader 5 are the leading trading platforms that 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.
Is Hankotrade Reliable?
Since its inception in 2018, Hankotrade has delivered exceptional services to many traders worldwide. You can read the following Hankotrade reviews, published on authentic platforms to learn about the positive experience of traders with Hankotrade:
What Is Hankotrade's Minimum Deposit?
Hankotrade requires a $10 deposit as a minimum to start an account. Hankotrade allows you to start small and progressively raise your investment in Forex trading, so you don't need a large sum of money to get started.
Does Hankotrade Provide Any Additional Tools?
Tools play a vital role in assisting traders in the right direction. It's like hints we get while playing a game. Hankotrade provides these three kinds of additional tools mentioned below.
We will begin with the essential tool of all time.
1. FX Calculator
Forex calculators are one of the traders' and investors' most critical tools to help them manage their finances.
A Forex calculator is a handy tool that can help you to analyze and predict the movements of the foreign exchange market.
The Forex calculator can be used to calculate the value of one currency in terms of another, to determine the profit or loss that can be made from trading in the foreign exchange market, and to calculate the return on investment (ROI) for Forex trading.
Moving on to the following tool.
A VPS allows you to tailor your hosting environment to your specific needs.
Virtual Private Server (VPS) hosting is becoming increasingly popular for traders and online entrepreneurs due to its flexibility, security, and performance. Hankotrade provides its clients with this tool to stay connected to the trading world and execute their trades instantly, without delay.
Lastly, we will discuss the tool which will send you alerts.
Calendars have become a part of our lives to keep a reminder of whatever is coming next. Using the same concept, the Hankotrade calendar will inform the customers about any new event, fluctuation, or downfall in the market to help us make informed decisions.
Does Hankotrade Provide a Demo Account?
It's no secret that trading is hazardous, and people hesitate to trust their assets with a third-party platform. Therefore, Hankotrade offers free demo accounts to start trading using virtual funds instead of keeping your hard-earned money on stakes.
Demo accounts function similarly to live accounts, which means the trading conditions are kept the same to provide you with relevant and valuable learning experiences. You can change your demo account settings and account balance. Request Hankotrade broker via email or live chat with your demo account number. Your request will be approved immediately, and your desired changes will be updated.
Moreover, you can have both a demo and a live account at the same time. All you need to do is install the MT4 platform for each Hankotrade Forex trading account you have.
Hankotrade Review 2023: Final Thoughts
Detailed research about the broker you are going to select is better than getting into trouble later. To look out for red flags, read reviews and feedback from authentic customers. It will help you judge the broker and protect yourself from getting scammed.
You can also read the feedback of customers on Trustpilot.com to make sure that Hankotrade is the right broker for you.