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Hankotrade Review
Overall, Hankotrade is considered high risk, with an overall Trust Score of 60 out of 100. Hankotrade is licensed by 0 Tier-1 Regulators (high trust), 0 Tier-2 Regulators (average trust), and 0 Tier-3 Regulators (low trust). Hankotrade offers three retail trading accounts: an STP, ECN, and ECN Plus.
- Lesche Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
USD 10 / 245600 VND
Regulators
FSA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
25+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
Hankotrade is an online Forex and CFD broker that offers trading in various financial instruments, such as Forex currency pairs, indices, commodities, and cryptocurrencies.
The platform is appropriate for novice and experienced traders, and demo accounts are available for beginners to practice trading. The broker operates as a market maker, the counterparty to its clients’ trades.
The broker provides user-friendly trading platforms with tight spreads, commission-free accounts, and swift trade execution.
Additionally, the broker offers leverage of up to 1:500, enabling traders to magnify their potential profits. However, it is important to note that greater leverage also increases the risk of loss, so traders should use it cautiously.
Regarding regulation, They are an unregulated broker at present. This may concern traders who prefer to work with regulated brokers who provide enhanced protection for their funds. When choosing a broker, Vietnamese traders may want to consider this factor.
Top 3 Hankotrade User Reviews
- Dat Turner (May 2023) “Alex Shane from Hankotrade was there right away to answer many questions about my real and practice accounts. He also answered my questions about deposits. Knowing that I can reach their customer service team at any time of day or night is reassuring.”
- Ngoc Jackson (May 2023) “Withdrawal problems surfaced, but Hankotrade quickly resolved the situation. I’ve been paid out several times since I started trading, and their support staff is excellent.”
- Huyen Lewis (February 2023) “I made a good decision when I switched to Hankotrade. I finally fired my old broker because of his excessive fees. The fact that Hankotrade’s pricing is easy to understand and consistent with the ECN model is a huge plus for me.”
Advantages that Hankotrade has over competitors
- Although the broker is an unregulated broker, it follows industry best practices, which gives its users confidence.
- While not as comprehensive as some competitors, they provide educational materials to help traders improve their skills.
- accepts various payment methods, making it easy for traders to deposit and withdraw funds.
- provides responsive and knowledgeable customer support 24 hours a day, five days a week, ensuring that traders’ queries and issues are resolved quickly.
- Unlike some brokers, they have a transparent fee structure, which allows traders to understand their trading costs better.
- provides high-leverage options, allowing traders to open larger positions with less capital.
- offers a variety of account types to meet the needs of all traders, from beginners to professionals.
- Whether deposits or withdrawals, the processe transactions quickly, ensuring that traders can access their funds when needed.
- provides user-friendly trading platforms that are simple to navigate, making it suitable for novice and experienced traders.
- offers competitive spreads, particularly on major currency pairs, which can significantly reduce trading costs.
- For traders who want to hedge their positions effectively, they provide the necessary tools and options.
Who will Benefit from Trading with Hankotrade?
- provides a wide range of financial instruments, making it ideal for traders looking to diversify their portfolios.
- offers various features that can benefit those who are comfortable trading with an unregulated broker.
- With its referral bonus, the broker is also a good option for traders looking to supplement their income by referring new clients to the broker.
- Thanks to its user-friendly platforms and various account types,they are well-suited for newcomers to the forex market.
- The broker provides advanced trading tools and competitive spreads, making it an excellent choice for seasoned traders seeking a competitive advantage.
- offers hedging options, which can be useful for traders who want to protect their positions from adverse market movements.
- The broker is an excellent choice for day traders due to its quick and efficient deposits and withdrawals and high-leverage options.
- With its competitive spreads and fast execution, Hankotrade is ideal for scalpers who make multiple trades in a short period.
- Because the broker’s platforms support automated trading, it is a good option for traders who execute trades using algorithms.
- There transparent fee structure will appeal to traders who prefer to know exactly how much each trade will cost.
What is Hankotrade?
The broker is a multi-asset broker that allows cryptocurrency deposits and withdrawals. Via the MT4 and MT5 platforms, day traders can invest in over 80 instruments.
Does Hankotrade offer a swap-free Islamic account option?
Yes, they offers an Islamic account option without swaps.
Hankotrade At a Glance
| 🏛 Headquartered | Dubai |
| 🌎 Global Offices | UAE |
| 🏛 Local Market Regulators in Vietnam | The State Bank of Vietnam (SBV) ) |
| 💳 Foreign Direct Investment in Vietnam | 22.40 Billion USD (Dec 2022) |
| 💰 Foreign Exchange Reserves in Vietnam | 85,801 million USD (Feb 2023) |
| ✔️ Local office in Hanoi? | No |
| 👨⚖️ Governor of SEC in Vietnam | SBV Governor, Nguyen Thi Hong |
| ✔️ Accepts Vietnamese Traders? | Yes |
| 📊 Year Founded | 2019 |
| 📞 Vietnam Office Contact Number | None |
| 📱 Social Media Platforms | Instagram |
| ⚖️ Regulation | None |
| 1️⃣ Tier-1 Licenses | None |
| 2️⃣ Tier-2 Licenses | None |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | None |
| ⚖️SBV Regulation | No |
| ✔️ Regional Restrictions | United States |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 3 |
| ✔️ PAMM Accounts | Yes |
| 💻 Liquidity Providers | Unknown |
| ✔️ Affiliate Program | Yes, Introducing Broker |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | $2 per $100,000 traded |
| 💰 Decimal Pricing | 5th Decimal after the comma |
| 📞 Margin Call | 70% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unknown |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a VND Account? | No |
| 📉 Dedicated Vietnamese Account Manager? | No |
| 📈 Maximum Leverage | 1:5000 |
| 📊 Leverage Restrictions for Vietnam? | No |
| 💳 Minimum Deposit (VDN) | USD 10 / 245600 VND |
| ✔️ Vietnam Dong Deposits Allowed? | No |
| 📊 Active Vietnam Trader Stats | 90 million+ |
| 👥 Active Vietnam-based Hankotrade customers | Unknown |
| 🔁 Vietnam Daily Forex Turnover | 9.9 billion USD (2019) |
| 💰 Deposit and Withdrawal Options | Bitcoin, Ethereum, Litecoin, Ripple (XRP), and Bitcoin Cash |
| 💻 Minimum Withdrawal Time | Instant |
| ⏰ Maximum Estimated Withdrawal Time | Instant |
| 💳 Instant Deposits and Instant Withdrawals? | Instant |
| 🏛 Segregated Accounts with Vietnamese Banks? | No |
| 📱 Trading Platforms | MetaTrader 4 MetaTrader 5 |
| 💻 Tradable Assets | Forex Commodities Crypto Indices |
| ✔️ Offers USD/VND currency pair? | No |
| 📊 USD/VND Average Spread | None |
| ✅ Offers Vietnamese Stocks and CFDs | No |
| 💻 Languages supported on the Website | English |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | No |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Vietnam-based customer support? | No |
| 💸 Bonuses and Promotions for Vietnamese? | Yes |
| 📚 Education for Vietnamese beginner traders | No |
| 📱 Proprietary trading software | No |
| 🤝 Most Successful Trader in Vietnam | Most Successful unknown, but the top include Dao Thi Kim Ngan, Tran Minh Tuan, Pham Quoc Dat, etc. |
| ✔️ Is the broker a safe broker for Vietnam Traders? | No |
| 🎖 Rating for Exness Vietnam | 4/10 |
| 🥇 Trust score for Exness Vietnamese | 60% |
| 👉 Open Account | 👉 Open Account |
Regulation and Safety of Funds
The broker is not currently regulated by the State Bank of Vietnam (SBV). However, there global regulations are listed in the table below.
Global Regulations
The broker is not regulated by any entity in any region.
Protection of Client Funds
| Security Measure | Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | No |
| Compensation Amount | None |
| SSL Certificate | Yes |
| 2FA (Where Applicable) | No |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | Yes |
Security while Trading
- The broker’s systems are designed to limit access to confidential client information to only authorized personnel, lowering the risk of data breaches.
- encourages traders to use complex passwords and change them regularly to improve account security.
- Using advanced firewall technology, they protect its servers from unauthorized access and cyber threats.
- To secure data transmission between the trader’s computer and the broker’s servers, the brokers employs SSL (Secure Socket Layer) encryption. This protects personal and financial information from unauthorized access by encrypting it.
- Secure login credentials are required by the broker’s platforms, providing an initial layer of security against unauthorized account access.
- While it is not explicitly stated, many brokers, including unregulated, keep client funds separate from the company’s operational funds. This is a common practice to protect traders’ capital.
- provides various risk management tools, such as stop-loss and take-profit options, to assist traders in effectively managing their risks while trading.
Is Hankotrade a scam or a legit broker?
Unregulated does not necessarily indicate a scam, but traders should be even more cautious with unregulated providers than with regulated brokers.
Is Hankotrade a regulated broker?
No, according to research, they are an unregulated offshore broker.
Awards and Recognition
Hankotrade does not list any rewards or recognition on the website.
Hankotrade Account Types and Features
| 💻 Live Account | 💰 Minimum Dep. | 📊 Average Spread | ✔️ Commissions | 📈 Average Trading Cost |
| STP | $10 / 244450 VND | 0.7 pips | None | 7 USD |
| ECN | $100 / 2458252 VND | 0.0 pips | $4 per $100,000 | 4 USD |
| ECN Plus | $1000 / 24582527 VND | 0.0 pips | $2 per $100,000 | 2 USD |
STP Account
The Straight Through Processing (STP) account is intended for traders seeking direct market access trading.
This account type provides competitive spreads and is ideal for those who prefer a simple trading experience without the involvement of a dealing desk. It is appropriate for both novice and experienced traders.
ECN Account
The Electronic Communication Network (ECN) account is designed for traders seeking tighter spreads and increased liquidity.
This account provides access to a wide range of financial instruments and is ideal for traders who use more complex trading strategies such as scalping and high-frequency trading.
ECN Plus Account
The ECN Plus account is a more advanced version of the standard ECN account with lower spreads and commissions.
This account is intended for professional traders and institutional clients who need a more tailored trading environment. It frequently includes extras such as priority customer support and access to advanced trading tools.
Demo Account
Te broker provides a free demo account for traders to practice with the platform and various trading instruments.
The demo account offers real-time price conditions, flexible leverage up to 1:500, and unlimited virtual funds. This allows users to test different strategies and simulate trading in a risk-free environment before investing real money.
The demo account is available through MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Forex, cryptocurrencies, commodities, and stocks are just some of the instruments traders can trade.
Users can open a demo account by visiting the website and filling out the registration form. A account requires only a $10 deposit; the demo account is free.
The demo account is an excellent resource for both new and experienced traders. Beginners can use it to learn the fundamentals of trading and build confidence before moving on to a live account.
Experienced traders can use the demo account to test new strategies and experiment with different trading instruments without risking their money.
Islamic Account
The broker provides an Islamic account to its clients of various cultures and religions. This account is designed specifically for Muslim clients looking for Sharia-compliant trading practices.
The Islamic account functions similarly to the other accounts, except that no swap commissions are charged on overnight positions.
This means that Muslim traders can participate in forex trading without fear. Except for swap commissions, the features of an Islamic account are identical to those of other trading accounts.
While the Islamic account is ‘swap-free’ and ‘commission-free,’ it does have a fixed administration fee instead of the standard swap fees.
Depending on the symbols, the admin fee for the Islamic account ranges from -0.25 to -300 points. When a trade is held for two days, this admin fee is deducted from the client’s trading account.
Finally, the Islamic account offers a commission-free and SWAP-free trading option, making it appealing for traders seeking Sharia-compliant practices. Users should be aware of the administrative fees associated with this account.
Spread Betting Account
The broker does not have spread betting.
Base Account Currencies
The base account currencies available to Vietnamese include the following:
- USD
- CAD
- EUR
Basic Order Types
- Market Order – A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your platform’s chart. If you place a market order, you will be immediately entered at the best available price.
- Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at market to enter the trade immediately.
- Stop Order – A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
- Limit Order – Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.
- Limit orders can be either buy or sell limits, depending on the market’s direction before your anticipated reversal.
- A sell limit is used to sell above the market, while a buy limit is used to purchase below the market.
What is the maximum leverage offered by Hankotrade?
The maximum leverage available is 1:500.
Does Hankotrade offer negative balance protection?
Yes, they provide negative balance protection.
How to open a Hankotrade Account – A Step-by-Step Guide
To open an account, Vietnamese can follow these steps:
Step 1 – Register an account
Locate the “Open Account” or “Register” button on the official website.
Step 2 – Fill out the form
Create a secure password and provide the required personal information, including your name, email address, and phone number.
Step 3 – Verify Account
Type in the 6 digits that you received from your email and submit.
What types of accounts does Hankotrade offer?
STP, ECN, ECN Plus, Demo, and Islamic accounts are all available.
Do all account types offer the same leverage?
Yes, leverage depends on the equity balance of the account.
How to Close a Hankotrade Account
To close a live trading account, Vietnamese traders can follow these steps:
- The first step in closing your account is to contact customer service. This is usually accomplished through email, live chat, or phone.
- A formal account closure request will be required. Include all pertinent information and reasons for the closure.
- Before closing your account, you must close all open trading positions and cancel any pending orders.
- Ensure that all remaining funds from your trading account are withdrawn. This is possible using the same payment methods as for deposits.
- Customer service will close your account once all the preceding steps have been completed. Once the process is completed, you will receive a confirmation email.
- will provide you with a final account statement for your records that details all transactions and balances.
- If you downloaded any trading platforms to your devices, uninstall them after closing your account.
- Keep all correspondence and statements related to your account for future reference, especially if you intend to open another trading account.
- Although not required, they may ask for feedback on your trading experience and the reason for account closure. Your feedback could be beneficial to their ongoing service improvement.
Is the account closure process the same for all account types?
Yes, account closure is the same for all accounts.
Do I need to withdraw my funds before closing the account?
Yes, you must withdraw funds before you close your trading account to avoid losing the money still in the account.
MAM / PAMM Features
Hankotrade provides specialized PAMM/MAM accounts for money managers who wish to efficiently manage trading accounts for their clients, friends, or family. These accounts are equipped with individualized settings to streamline the management of multiple client accounts.
Multi-Account Manager (MAM) is a robust system that enables professional money managers to manage multiple accounts through a single master account simultaneously.
This program’s numerous benefits include the ability to initiate trades with as little as 0.01 lots, the ability to manage an unlimited number of client accounts under one master account, and access to dependable MT4 servers. In addition, the program is compatible with a vast array of trading products.
Hankotrade’s PAMM/MAM solutions are distinguished by the ability of account managers to set their profit percentage to charge clients. This agreed-upon percentage is processed at the end of every month, providing a straightforward and transparent fee structure.
To qualify for the PAMM/MAM program, money managers must maintain at least $10,000 in their master account and more than two sub-accounts. Upon meeting these requirements, they are provided with a unique sign-up link and a portal to manage their sub-accounts.
What is the minimum balance required for a PAMM/MAM account?
To open a PAMM/MAM account, you must have a combined master account balance of $10,000.
Can the PAMM/MAM account manager set their profit percentage?
Yes, the account manager can determine the percentage of profit to charge clients.
Hankotrade vs. Octa vs. FBS – A Comparison
| 🥇 Hankotrade | 🥈 Octa | 🥉 FBS | |
| ⚖️ Regulation | None | CySEC, SVG FSA | IFSC, CySEC, ASIC, FSCA |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 OctaFX App CopyTrade App | MetaTrader 4 MetaTrader 5 FBS Trader CopyTrade |
| 💰 Withdrawal Fee | No | No | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | USD 10 / 245600 VND | USD 25 / 611125 VND | $5 / 122525 VND |
| 📊 Leverage | 1:500 | 1:500 | Up to 1:3000 |
| 📊 Spread | From 0.0 pips | 0.6 pips | From 0.0 pips |
| 💰 Commissions | From $2 per $100,000 | None | From $6 |
| ✴️ Margin Call/Stop-Out | M: 70% S/O: 20% | 25%/15% | 40%/ 20% |
| 💻 Order Execution | Market, Instant | Market | Market |
| 💳 No-Deposit Bonus | No | Yes | Yes |
| 📊 Cent Accounts | No | No | Yes |
| 📈 Account Types | STP ECN ECN Plus | OctaFX MT4 OctaFX MT5 | Cent Account Standard Account Pro Account |
| ⚖️ SBV Regulation | None | No | No |
| 💳 VND Deposits | No | No | No |
| 📊 Vietnamese Dong Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/7 | 24/7 |
| 📊 Retail Investor Accounts | 3 | 2 | 6 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | Unknown | 500 lots | 500 lots |
| 💰 Minimum Withdrawal Time | Instant | 30 minutes | 15 to 20 minutes (maximum 48 hours) |
| 📊 Maximum Estimated Withdrawal Time | Instant | 3 hours | Up to 7 days |
| 💸 Instant Deposits and Instant Withdrawals? | Yes | No | Instant Deposits |
Overall Rating
- 4.7/5
Min Deposit
USD 10 / 245600 VND
Regulators
FSA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
25+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Hankotrade Trading Platforms
offers Vietnamese traders a choice between these trading platforms:
MetaTrader 4
MT4 is notable for its remarkable flexibility and user-friendly interface, which allows traders to execute complex trading strategies and tailor their trading experience to their preferences.
MetaTrader 5
MT5, on the other hand, provides a higher level of flexibility, boasting innovative features that can significantly improve trading outcomes.
The broker offers both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are well-known and trusted among traders worldwide. These platforms include many features and tools meticulously designed to improve the trading experience and overall performance.
Access to the MT4 and MT5 platforms is a valuable advantage for Vietnamese traders because it allows them to choose the one that best suits their trading preferences and strategies.
The broker is an NDD (No-Dealer-Dealer Platform) broker, guarantees quick trade execution by directly transmitting client orders to liquidity providers.
This dedication to efficiency is especially beneficial for Vietnamese traders who prioritize timely market responses and seek to capitalize on opportunities.
Furthermore, the brokers diverse portfolio of financial instruments includes Forex, CFDs, stock indices, and cryptocurrencies. This wide range of options allows Vietnamese traders to diversify their investment portfolios and explore various trading opportunities.
Furthermore, including these instruments on the MT4 and MT5 platforms enhances the trading experience by providing access to global markets and increasing trading flexibility.
Can I use custom indicators on Hankotrade’s platform?
Yes, you can. Custom indicators are compatible with MetaTrader 4 and 5.
Is one-click trading an option?
Yes, you can use one-click trading on MetaTrader 4 and 5.
Trading App
Which Markets Can You Trade with Hankotrade?
Vietnamese traders can expect the following range of markets:
- Forex
- Commodities
- Indices
- Cryptocurrencies
Financial Instruments and Leverage
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 62 | 1:500 |
| ➡️ Commodities | 8 | 1:500 |
| ➡️ Indices | 6 | 1:500 |
| ➡️ Cryptocurrency | 3 | 1:5 |
Broker Comparison for a Range of Markets
| 🥇 Hankotrade | 🥈 Octa | 🥉 FBS | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Stocks | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
Does Hankotrade offer forex trading?
Yes, Forex trading is a significant market, with currency pairs such as EURUSD and GBPUSD available.
Can I trade precious metals?
Yes, precious metals such as XAGUSD and XAUEUR can be traded.
Trading and Non-Trading Fees
Spreads
The broker has a competitive fee structure that is tailored to different types of traders. The broker offers low spreads starting at 0.7 pips to those who use the STP account. The ECN account takes it further, with even tighter spreads starting at 0.0 pips.
Commissions
Regarding commissions, the STP account stands out because it charges no commissions. The ECN account, on the other hand, charges a commission of $2 per side per $100,000 traded, whereas the ECN Plus account charges a lower rate of $1 per side per $100,000 traded.
Overnight Fees
Overnight fees, also known as swap fees, apply to positions held overnight, except those using the Islamic account, which waives these fees. However, admin charges apply to Islamic Accounts after a certain number of days that positions are held open.
Deposit and Withdrawal Fees
The broker does not charge deposit or withdrawal fees, making it cost-effective for traders to transfer funds.
Traders should be aware, however, that blockchain and currency conversion fees may apply. The minimum withdrawal amount is $50; withdrawals are typically processed within 24 hours.
Inactivity Fees
Another benefit of trading with them is the lack of inactivity fees, which is a relief for traders who are not always active.
Currency Conversion Fees
If you transact in a currency other than EUR, GBP, USD, BTC, LTC, ETH, or XRP, your transaction will be automatically converted to one of the currencies listed. Although Hankotrade does not charge a conversion fee, your bank may.
What is the commission structure at Hankotrade?
Commissions are free for STP accounts, $2 per side per $100,000 traded for ECN accounts, and $1 per side per $100,000 traded for ECN Plus accounts.
What are the spreads for each account type?
Spreads commence at 0.7 for STP and 0 for ECN and ECN Plus.
Hankotrade Deposits and Withdrawals
offers Vietnamese traders the following deposit and withdrawal methods:
- Cryptocurrency
Broker Comparison: Deposit and Withdrawals
| 🥇 Hankotrade | 🥈Octa | 🥉 FBS | |
| ⏰ Minimum Withdrawal Time | Instant | 30 minutes | 15 to 20 minutes (maximum 48 hours) |
| 💳 Maximum Estimated Withdrawal Time | Instant | 3 hours s | Up to 7 days |
| 💰 Instant Deposits and Instant Withdrawals? | Yes | No | Instant Deposits |
Deposit Currencies, Deposit and Withdrawal Processing Times
| 💳 Payment Method | 💳 Deposit Processing | 💳 Withdrawal Processing | 💳 Deposit Currencies |
| 💰 Crypto | Instant | Instant | BTC, LTC, DASH, ETH, TUSD, GUSD, USDC, EOS, BCH, ZEC |
Are there any deposit bonuses?
Yes, the broker provides a 100% deposit match bonus.
What’s the minimum withdrawal amount?
The withdrawal minimum is $50.
How to Deposit Funds
To deposit funds to an account with Hankotrade, Vietnamese traders can follow these steps:
Step 1. Log In
Log in with your personal details
Step 2. “Deposits”
- Navigate to the “Deposits” section of your account.
- Choose your preferred deposit method from the options available.
- Enter the deposit amount and any other required information.
- Confirm the deposit and follow any additional instructions.
- Follow the prompts from your chosen payment provider to complete the transaction.
What is the first step to make a deposit?
Vietnamese traders must first log into their account to deposit funds.
Is there a minimum deposit requirement?
Yes, to qualify for the 100% matching bonus, you must make a minimum deposit of $100.
Fund Withdrawal Process
Please follow these simple steps:
Step 1 . Log into the Client Portal.
Log into your trading account with your email address and password.
Step 2 “Withdrawals”
- Go to the “Withdrawals” section of your account.
- Choose your preferred method of withdrawal.
- Enter the amount you want to withdraw and any additional information.
- Confirm the withdrawal request and adhere to any additional instructions.
- Wait for an email confirming the status of your withdrawal.
What currencies can I use for withdrawing?
Withdrawals are accepted in EUR, GBP, USD, BTC, LTC, ETH, and XRP.
Are there any withdrawal fees?
No, there are no withdrawal fees.
Education and Research
Education
The broker does not offer any educational materials.
Research and Trading Tool Comparison
| 🥇 Hankotrade | 🥈 Octa | 🥉 FBS | |
| ➡️ Economic Calendar | No | Yes | Yes |
| ➡️ VPS | No | No | Yes |
| ➡️ AutoChartist | No | Yes | No |
| ➡️ Trading View | No | No | No |
| ➡️ Trading Central | No | No | No |
| ➡️ Market Analysis | No | Yes | Yes |
| ➡️ News Feed | No | Yes | Yes |
| ➡️ Blog | No | Yes | Yes |
Are webinars available for traders?
No, they do not offer webinars or any other educational material or tools.
Is there a demo account for practice?
Yes, the broker offers a demo account across account types on MetaTrader 4 and 5.
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Bonuses and Promotions
offers Vietnamese traders the following bonuses and promotions:
- 100% Bonus
The broker provides its clients with a very appealing Matching Deposit Bonus. This promotional offer allows traders to increase their trading margin significantly.
They will match any deposit made with a minimum of $100, doubling the client’s trading funds. This bonus acts as extra margin, enhancing the trading experience.
How Does It Work?
For example, if clients deposit $500 into their trading account, they will receive an additional $500 bonus, bringing their total trading funds to $1,000. This bonus functions similarly to leverage, giving traders more room to maneuver in the market.
Bonus Terms and Conditions
- A minimum deposit of $100 is required to claim the bonus.
- Clients can claim up to $25,000 in bonuses by making a single deposit of $25,000 or more or by making multiple deposits totaling $25,000.
- After trading a certain volume, the bonus can be withdrawn. The formula for calculating the required trading volume is as follows: Number of Lots Required for Withdrawal = Bonus Sum / 2. Indices, precious metals, and crude oil standard lots are counted as 0.1 lot.
- The system automatically removes the bonus if the client’s equity is lost.
- When using the bonus, the maximum available leverage is 200x.
- Customers can only use one bonus option at a time.
- reserves the right, at its sole discretion, to cancel or modify this bonus promotion at any time. If the bonus is misused, the promotion will be immediately terminated.
- The system may not issue a margin call notification when a bonus is applied to a trading account.
What is the 100% matching bonus?
The broker matches deposits of at least $100 with a 100% bonus.
Is the bonus withdrawable?
Yes, the bonus can be withdrawn after meeting certain trading volume requirements.
How to open an Affiliate Account
To register an Affiliate Account, Vietnamese traders can follow these steps:
Step 1. Visit the Website
Click the “Become an introducing broker” button on the Introducing Broker (IB) page. This action will redirect you to the registration page for the Affiliate/Introducing Broker program.
- On the registration page, you must complete the mandatory fields. This includes your personal information, preferred account type, and contact information for the Affiliate program.
- Before proceeding, read and accept the Customer Terms and Conditions and the General Risk Disclosure. Acceptance of these terms is required to proceed with the registration process.
- Click “Sign Up” after completing the form and accepting the terms and conditions to submit your application for review.
- You will receive a confirmation email granting you access to your Affiliate/Introducing Broker account upon approval of your application.
- Once your account is activated, you can begin referring clients, whether they are friends, family, or other introducing brokers. You can earn a commission of up to 40% on the trading volume generated by your referrals.
How do I become an Introducing Broker with Hankotrade?
To become an Introducing Broker, complete the registration form on the IB page.
Is there a commission for referring clients?
Yes, you can earn up to 40% commission on referred clients’ traded volume.
Affiliate Program Features
Affiliate/Introducing Broker program provides several advantages for individuals and businesses looking to supplement their income by referring clients to the platform. The following are the program’s key features:
- The Introducing Broker program also provides the option to receive an additional spread discount, which can be a valuable incentive for both affiliates and the clients they refer.
- Affiliates and Introducing Brokers can earn up to 40% commission on their referred clients’ traded volume. Based on the trading activity of the referred clients, this commission structure offers the potential for significant earnings.
- The brokers Introducing Forex Broker program is designed to provide affiliates with a comprehensive and effective solution. The program provides affiliates various marketing materials, tracking tools, and support to help them maximize their earnings.
- is an online trading platform that provides traders with exceptional features and reliability. Affiliates can promote a reputable and trusted broker, providing their referred clients peace of mind during their trading journey.
Is there a dashboard for affiliates?
Yes, there is a dedicated dashboard for affiliates on the website.
Can I refer both retail and institutional clients?
Yes, you can refer any clients.
Customer Support
| Customer Support | Hankotrade’s Customer Support |
| ☎️ Telephone/WhatApp | Yes |
| 🗺️ Website URL | https://hankotrade.com/ |
| [email protected] | |
| 🎓 Customer Service | Live Chat (24/5, Monday-Friday) |
| 📍 Follow Us | Instagram |
Is customer support available 24/7?
No, customer support is only available 24/5.
Is there a live chat feature for customer support?
Yes, there is a live chat feature on the website.
Our Verdict
After thoroughly reviewing the broker, we discovered that Hankotrade offers a variety of account types to suit different trading styles, including STP and ECN accounts. The 100% matching deposit bonus appeals to those seeking to increase their trading capital.
However, the lack of regulation raises concerns about the safety and security of funds. Furthermore, we discovered a gap in educational resources, which could disadvantage traders who are new to the market or want to expand their knowledge.
The PAMM/MAM solutions and affiliate program are well-structured, offering opportunities for money managers and those looking to earn through referrals.
However, the lack of a robust educational platform and regulatory oversight cannot be overlooked. Overall, Hankotrade provides a satisfactory trading environment, but there is room for improvement in key areas.
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Conclusion
Our Review Methodology
For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Now it is your turn to participate:
- Do you have any prior experience?
- What was the determining factor in your decision to engage?
- Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
- Have you experienced issues with Hankotrade, such as difficulty withdrawing funds, inability to verify regulations, unresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| They offer leverage up to 1:500 | The broker is unregulated |
| Traders can expect customer support through several channels | Hankotrade does not offer educational materials |
| There are hedging options | There are no standalone trading tools offered |
| There is a transparent fee schedule offered | There are reports of withdrawal delays |
| Hankotrade offers a deposit bonus | There is a limited range of tradable instruments |
Frequently Asked Questions
Where is the brokers location?
They are located in Dubai, United Arab Emirates.
Does the broker have Nasdaq 100?
Yes, they offer Nasdaq 100 under “NASUSD”, with spreads from 0.8 pips.
What is the execution model of Hankotrade?
The broker has established itself as a top-tier ECN Forex broker by employing an innovative No-Dealing Desk (NDD) execution model.
How long does it take to withdraw from them?
Withdrawals are typically instant.
What are the commission charges on trading accounts at Hankotrade?
The STP account has no commission fees, whereas the ECN and ECN Plus accounts charge $2 per side per $100,000 traded and $1 per side per $100,000 traded, respectively.
Do they offer any incentive schemes or referral initiatives?
Yes, the broker offers two enticing programs to help prospective and current traders grow their accounts. A generous 100% sign-up bonus is available to traders who deposit at least $100 into their trading accounts.
Does the broker have VIX 75?
No, they do not offer VIX 75 as part of its Index CFDs.
What are the spreads at Hankotrade?
Spreads on the STP account are as low as 0.7 pips. ECN and ECN Plus accounts have no spreads.
Is Hankotrade Safe or a Scam?
The broker seems like a legit broker, but the lack of regulation is concerning.
Is Hankotrade regulated?
No, they not regulated.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Vietnamese investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
Corporate Social Responsibility
the brokere does not publish information regarding its CSR initiatives or projects.