Hankotrade Review 2026

How safe is Hankotrade?

We gave Hankotrade a trust score of 32/100 based on regulation, reputation, and reviews.

1. Regulation

Hankotrade’s official operating entity is Hankotrade Global Markets Limited, registered in Belize, and the only physical address on the broker’s contact page is the Blake Building, on the corner of Houston and Eyre Street, Belize City, Belize. However, the broker is not regulated by any financial regulator. Being registered as a company in Belize does not constitute financial-services regulation, there is no licence from a financial supervisor overseeing the broker’s operations, capital adequacy, or client-fund handling.

Note: there is conflicting information about the underlying jurisdiction across third-party sources. The CFTC RED List records the broker’s origin as Seychelles, while some third-party databases reference St. Vincent & Grenadines (Hankotrade LLC). The official Hankotrade contact page states Belize, which we have used as the authoritative source.

Hankotrade was founded in 2019 and operates as a typical no-frills No Dealing Desk (NDD) broker with ECN execution.

Only one physical address, in Belize City, appears on the contact page, and no other office shows up on any page checked for this review. Hankotrade holds no licence from the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Canadian Investment Regulatory Organization (CIRO), the Monetary Authority of Singapore (MAS), Securities Commission Malaysia or the Financial Markets Authority (FMA), so clients in these markets are not protected by any local financial regulator.

Critically, Hankotrade has been on the CFTC RED List (Registration Deficient List) since 6 July 2022. The CFTC added Hankotrade to this list as an unregistered foreign entity offering forex and CFD trading to US persons, which is prohibited under US law. US residents should not open accounts with Hankotrade.

CFTC RED List Status

The Commodity Futures Trading Commission (CFTC) maintains a Registration Deficient (RED) List of foreign entities that solicit US residents to trade forex and other derivatives without being registered with the CFTC. Hankotrade was added to this list on 6 July 2022, with the listed origin recorded as Seychelles. Inclusion on the RED List is not a finding of fraud, but it does mean the entity is operating outside the US regulatory framework and US persons trading with them have no CFTC, NFA or court-based recourse.

While being unregulated might be an instant turn-off for some, it doesn’t necessarily guarantee a broker is safe or not, and there are various other systems that can be put in place to protect client funds, such as segregated client accounts.

Unfortunately, we discovered Hankotrade doesn’t offer this, which means in the event of insolvency, retrieving funds could be extremely difficult as they are commingled with company assets.

2. Reputation

Although, Hankotrade shows modest visibility in the online forex trading landscape. Hankotrade draws 9,970 worldwide branded Google searches for September 2026, which ranks it forty-second among the 61 brokers this site tracks. Web traffic data positions it slightly higher, with Similarweb reporting 298,692 global visits in February 2026, placing Hankotrade as the 38th most visited broker.

As a relatively recent entrant to the market, founded in 2019 and operating from Belize, Hankotrade doesn’t publicly disclose its client numbers or trading volumes. Its mid-to-lower-range positioning in both search and traffic metrics suggests a still-developing market presence rather than an established industry player. Hankotrade appears to focus primarily on emerging markets, particularly in Asia and parts of Africa, rather than pursuing a global leadership position.

Country, 10 rows.

Country	2026 Monthly Searches	Rank
United States	9,900	1st
Canada	390	2nd
United Kingdom	210	3rd
India	90	4th
South Africa	90	5th
Germany	90	6th
Nigeria	70	7th
Netherlands	70	8th
Australia	70	9th
Vietnam	50	10th

3. Reviews

We checked Hankotrade out on Trustpilot, and they have an ‘excellent’ ranking of 4.9 and seem generally responsive to both positive and negative feedback by replying to messages posted on the forum. While most of the reviews do seem genuine, you can never be 100% sure. It should also be said that we noticed a recurring negative theme in relation to delayed fund withdrawals.

Our score for Hankotrade is set against every other broker on forex broker review.

Verdict on Hankotrade’s Trustworthiness

Given that Hankotrade is unregulated and doesn’t provide segregated client accounts, we felt compelled to rank them poorly as this presents a significant risk should the broker become insolvent. While we stand by this ranking, we also want to note that it appears plenty of users and traders are happy with their offering, which is demonstrated by their ‘excellent’ Trustpilot ranking.

What traders say about Hankotrade

What other review sites say about Hankotrade

These are ratings of Hankotrade from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.

Platform	Rating	Volume	Read on
Trustpilot	4.8 / 5	2,888	Nov 1, 2026

Hankotrade holds a Trustpilot rating of 4.8 out of 5 from 2,888 reviews, checked Nov 1, 2026.

Our score is based on published criteria and is not influenced by these third-party ratings.

How popular is Hankotrade?

Hankotrade sits in the lower half for search interest, 42nd of 61 on 9,970 branded searches in September 2026. Search interest measures attention, not quality; the score above is the review verdict.

42of 61Search interest rank

9,970

Brand searches, September 2026

-17.8%

vs August 2026

1,860

Login searches

0.2%

Share of all searches

Source: Google search volume, Worldwide, September 2026.

How this is measured

Google Ads reports how many times a month people searched each broker's brand terms, and the brokers are ranked on that figure alone.

A term counts for a broker only when that broker's own website holds the first organic Google result for it; bare brand words that any company could own are left out.

A month-on-month change prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.

The figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.

Hankotrade at a glance

Hankotrade spreads and fees

According to the Hankotrade website, spreads start from 0.7 pips on their STP accounts, which is relatively standard for brokers that offer competitive spreads of this type.

Spreads

For their Best ECN Forex Brokers account and ECN Plus Account, spreads start from as little as 0 pips, but they will charge a commission when you place a trade. The ECN account charges $2 per side per $100,000 traded, while the ECN Plus account charges $1 per side per $100,000 traded.

Being a pure Electronic Communication Network (ECN) broker, Hankotrade aggregates prices directly from third-party liquidity providers, including banks and other market participants. As such, the prices and spreads can vary according to market volatility.

STP Spreads

Hankotrade’s STP spreads on EUR/USD and GBP/USD were 1.1 pips and 1.3 pips respectively. While this doesn’t place Hankotrade at the top of the leaderboard, they aren’t bad numbers.

For comparison, IC Markets’ Standard account has a published minimum spread of 0.8 pips on EUR/USD and GBP/USD, while its Raw Spread account, which charges commission per trade, has a published minimum of 0.0 pips. Pepperstone’s spreads on EUR/USD and GBP/USD are 1.1 pips. These numbers, like with Hankotrade, are taken from the broker’s websites and updated each month.

Ross Collins’s standard spread tests for the Standard Account Spreads covered 15 brokers and did not include Hankotrade. In them, IC Markets and Fusion Markets had some of the most competitive spreads, and these brokers are regulated.

ECN Spreads

Hankotrade does not publish its ECN spreads on its website, so I have no figure to give you. The table below shows ECN spreads on EUR/USD, GBP/USD, and AUD/USD from Pepperstone, IC Markets, Go Markets, FP Markets, IG, and BlackBull Markets.

Ross Collins’s RAW spread tests also cover commission-based accounts, and in them Fusion Markets and IC Markets are good choices, with six-pair averages of 0.22 pips and 0.32 pips respectively.

Swap-Free Account

Hankotrade offers a Swap-Free Islamic Account option for Muslim traders. It is important to note this account is not fully swap-free, an administration fee in points is debited when a position is held longer than two days, and the fee varies significantly by symbol.

The admin charges range from -0.25 points on cryptocurrencies up to -300 points on exotic pairs like USD/TRY, EUR/TRY and GBP/TRY. Headline major pair charges include EUR/USD at -40 points and GBP/USD at -30 points. For comparison, brokers like Pepperstone charge after 10 days rather than two, which is significantly more accommodating for Islamic traders holding positions beyond a short timeframe.

Verdict on Hankotrade Spreads

When it comes to spreads, we think this is one particular area where Hankotrade really shines. While we wished they published spreads on their website for transparency, that’s the only criticism we have.

Deposits and withdrawals with Hankotrade

Hankotrade isn’t integrated with any third-party payment providers and only offers cryptocurrency deposits and withdrawals. They currently accept Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Dogecoin (DOGE), Bitcoin Cash (BCH), Litecoin (LTC) and TrueUSD (TUSD) across various networks. There are no deposit or withdrawal fees.

What is the minimum deposit at Hankotrade?

Hankotrade has a minimum deposit of $15 on its entry-level STP account. The minimum deposit amounts vary across the three account types Hankotrade offers.

The STP account has a $15 minimum, the ECN account has a $100 minimum, and the ECN Plus account has a $1,000 minimum.

Account Base Currencies

While crypto is used to fund the account, it is automatically converted when deposited into your base fiat currency, which can be USD, CAD, EUR or AUD.

Deposit Options And Fees

Hankotrade only accepts cryptocurrency deposits with instant processing time and reimbursed fees.

Withdrawal Options And Fees

The minimum withdrawal amount across all three account types (STP, ECN, and ECN Plus) is $50.

Ease To Open An Account

Being an unregulated broker, Hankotrade accepts clients from all over the world (with some exceptions like the U.S.), and the account opening process is very quick. It took us about 1 minute to get set up with an account, which we thought was excellent.

Simply follow the below steps to get set up.

1. Click register account in the top right-hand corner
2. Fill out the basic information form and click sign up
3. Verify your account with the link sent to your email
4. Select the account you want to open

And that’s it! You should receive an email within seconds confirming your account, and then all you need to do is log in with the details provided. You can proceed to fund your account and download the platform of choice.

Verdict on Hankotrade Funding

Given Hankotrade only offers cryptocurrency funding methods, has no partnerships with third-party providers, and has minimum deposit and withdrawal restrictions, we scored the broker poorly overall.

Hankotrade trading platforms and app

Hankotrade offers trading exclusively via HankoX, a proprietary trading platform powered by ActTrader. HankoX is available as desktop downloads for Windows, Mac, and Linux, a WebTrader in a web browser, and mobile apps for iOS and Android.

HankoX (ActTrader)

HankoX is Hankotrade’s proprietary platform, powered by ActTrader technology. Traders can access it through desktop downloads for Windows, Mac, and Linux, the WebTrader in a web browser, and mobile apps for iOS and Android. The platform includes one-click trading, price alerts, customisable workspaces, detachable windows, 48 default indicators, 18 analytical objects and 11 timeframes.

For automated trading, HankoX supports Expert Advisors (EAs), custom indicators, and Visual Algorithmic Trading. It also offers three APIs, REST, JAVA and FIX, alongside an in-built Multi Account Manager (MAM) for money-manager allocation. Crypto prices are quoted to 8 decimal places.

Verdict on Hankotrade Trading Platforms

Hankotrade’s platform offering is limited to its proprietary HankoX terminal. While HankoX has solid functionality including API access, EAs and Visual Algorithmic Trading, the lack of MT4, MT5, cTrader or TradingView integration limits flexibility for traders already invested in those ecosystems. Overall, we gave Hankotrade a moderate rating for trading platforms.

Markets you can trade with Hankotrade

Hankotrade offers a moderate range of forex pairs to trade, with 62 pairs in total. Commodities and indices are more limited.

CFDs

Commodities and energy cover eight instruments: gold and silver against the US dollar, WTI crude oil, Brent crude oil, natural gas, gold and silver against the Australian dollar, and gold against the euro. Their CFD indices are limited to 11 markets, including major benchmarks like ASX 200, FTSE 100, DJIA, DAX 30, CAC 40, S&P 500, Nasdaq 100 and Nikkei 225.

There are also no shares, bonds, options or ETFs, and while they do offer cryptocurrency markets, there are just four to choose from.

Verdict on Hankotrade Trading Products

We gave Hankotrade an average ranking in this category as apart from forex, the other asset class offerings are either very limited or non-existent.

Hankotrade customer service, research and education

Hankotrade’s customer support is very good and can be contacted via live chat, phone, Skype, email, web form and a dedicated Discord channel. They are available 24/5.

Verdict on Hankotrade Customer Support

We scored Hankotrade well for customer support given its range of channels and 24/5 availability.

Research and education

There are no educational materials or market analysis at all on Hankotrade, which we thought was a bit of a disappointment. Additionally, their FAQs are very limited, and they don’t seem active on social media.

The one thing they do have is a forex calculator, which allows you to calculate your commissions, swap fees, pips, and margin, but this is nothing special as most forex brokers offer this at a bare minimum.

Verdict on Hankotrade Research and Education

Due to there being no educational resources of any sort on the website or on social media, we ranked Hankotrade poorly overall.

Our final verdict on Hankotrade

If you primarily trade forex and personal circumstances require use of an unregulated broker, then Hankotrade could be a good option if you’re looking for competitive spreads and high leverage. It’s also quick and easy to set up an account, and there are various account types to choose from.

We like this simplicity and flexibility, but as we have mentioned throughout the Hankotrade review, the fact they don’t have segregated client accounts is a major red flag for us. This puts retail investor accounts at significant risk in the event the forex broker becomes insolvent and therefore can’t be understated. This, combined with the lack of transparency and limited information on the website leads us to believe that the risks outweigh the benefits for Hankotrade clients.

In summary, we think Hankotrade offers competitive spreads, but we wish they were regulated and had some more client safety features in place.

While we are not in the practice of recommending unregulated brokers, we have reviewed other unregulated brokers in the past. For more information, you can read the KOT4X Review, Hugo’s Way Review, Exness Review and Trader’s Way Review.