HankoTrade

HankoTrade is a forex broker that has been operating since 2018, and Teagle's data lists its country as Belize. The broker offers trading in forex, commodities, indices and cryptocurrencies on its proprietary HankoX platform, and deposits and withdrawals are crypto-only. In this overview, we have brought together what Teagle knows about HankoTrade, from accounts and costs to regulatory uncertainties.

What kind of broker is HankoTrade?

HankoTrade has about 8 years of history and, with three account types (STP, ECN and ECN PLUS) plus an Islamic (swap-free) version for all of them, has tried to offer conditions suited to different trading styles. Forex calculation tools, incentive programs and PAMM and MAM money management systems are also mentioned in its profile. Scalping, hedging, using expert advisors and news trading are also recorded in Teagle's tags.

HankoTrade licenses and credibility

This is HankoTrade's biggest weakness: no license is recorded for this broker in Teagle's license list. According to the FAQ, HankoTrade's website does not state a regulator name, license number or any specific information about a supervisory body, and even the name and full details of the company operating the broker are not clearly disclosed. There is no compensation fund either. So before any deposit, you should ask the broker for its company name, registration number and country of registration, and verify them. To understand what the lack of a license means in practice, read the guide Broker regulation and its tiers and the article What are offshore and onshore brokers .

Does HankoTrade serve Iranians?

Teagle's tags list "services to Iran" for HankoTrade, but it has no Persian website or support, and accessing it requires changing your IP. Teagle's expert has also noted that the policy on accepting Iranian users should be checked before signing up. Easy onboarding without identity verification is one of the stated advantages, but registering an account in another person's name and transferring funds from other brokers are not allowed.

HankoTrade trading accounts

All three HankoTrade accounts have raw spreads, maximum leverage of 1:500, a 70% margin call and a 50% stop-out, and no requotes are recorded for them:

• STP account: minimum deposit $15, no commission and spreads from 0.7 pips; suitable for starting with small capital.
• ECN account: minimum deposit $100, spreads from zero and a commission of $2 per $100,000 lot.
• ECN PLUS account: minimum deposit $1,000, spreads from zero and a commission of $1 per lot.

These costs are very low on paper, and Teagle's expert has also counted "very low trading costs and competitive spreads" among its advantages. If you want to compare the real cost of each trade, see An introduction to ECN accounts and how they compare with other accounts and the article Scalping in forex .

The HankoX trading platform

HankoTrade does not offer MetaTrader 4 or 5, and all trading takes place on the HankoX platform in its web, Android and iOS versions. According to Teagle's review, the HankoX app links lead to ActTrader, a third-party platform. For those used to MetaTrader expert advisors and tools, this is a significant limitation.

Deposits and withdrawals at HankoTrade

The only method recorded on Teagle is cryptocurrency: minimum deposit $15 with no broker fee, instant deposits, minimum withdrawal $50, and withdrawals processed within one business day with only the network fee paid. Teagle's expert considers the limited payment methods one of the reasons for caution. If you are buying Tether to deposit, don't miss the article Common mistakes Iranians make when buying Tether .

HankoTrade's rating and risk on Teagle

HankoTrade's final rating on Teagle is 2.78 out of 5, derived from four sources: Trustpilot 4.8, Teagle's expert 2.7, Forex Peace Army 2.6 and WikiFX 1; Teagle user ratings have not yet been recorded. The Teagle Eye risk index for this broker is 68 out of 100, in the "high risk" category, mainly due to the absence of any active license. For this reason, also keep track of its place in the list of high-risk brokers and warnings .

HankoTrade pros and cons

• Pro: low commissions and spreads on ECN accounts
• Pro: $15 minimum deposit and onboarding without identity verification
• Pro: freedom in trading style; scalping, hedging and expert advisors
• Con: no license or specific supervisory body disclosed, and no compensation fund
• Con: no MetaTrader and no Persian website or support
• Con: crypto-only deposits and withdrawals, and fund transfers between brokers are prohibited

Who is HankoTrade suitable for?

Teagle's expert does not recommend this broker to any particular group of traders; the reason is the lack of regulatory documents in Teagle's repeated reviews and the limited payment methods. If you have limited capital and are comfortable with crypto payments, you should know that in the event of a dispute, you have practically no regulatory authority to turn to. Before deciding, put HankoTrade side by side with a competitor in the HankoTrade vs. JustMarkets comparison .

Conclusion

HankoTrade has low trading costs, but its legal and regulatory transparency is not at a level where you can confidently entrust it with serious capital. If you still intend to try it despite these risks, start only with an amount you can afford to lose, make a test withdrawal, and check the latest warnings on the risk warning page .