Hankotrade Review - Insight for Traders

Our quest for unbundling trading brokers continues as we turn our focus to a young entrant in the market, Hankotrade LLC. Founded in 2018 but only operational online since 2022, this broker has quickly caught the attention of traders, owing to its services and features. However, Hankotrade is not open to US traders.

We'll be taking an indepth dissection of the services offered by Hankotrade and hope to provide a holistic view to help traders make an informed decision.

Account Size

Firstly, Hankotrade impresses with a very low entry barrier. With a minimum account size of only $10, it makes the platform accessible to novice traders and individuals who want to test the waters without a significant investment. It's a reasonable position given that other brokers often demand heftier initial deposits.

Trading Details

The minimum position size setting is 0.01, which fits well with the minimal account size, allowing for flexible trading tactics. However, the maximum leverage information was not intelligible, and we recommend traders to directly enquire Hankotrade for accurate details.

Spreads and Fees

On the bright side, Hankotrade offers low spreads, which is always a plus for traders as they can carry out multiple transactions without worrying about heavy expenses. We advise traders to gather detailed information on spreads for individual transactions to ensure they align with their trading strategies.

Regulations

On the flip side, Hankotrade does not claim serious regulatory oversight. The lack of regulatory adherence could be a concern as it directly implies to the security of trader's funds and overall investment.

Broker Features

What makes Hankotrade stand out of the crowd is its additional features. It provides MAM, Managed accounts, and PAMM services.

• MAM (Multi-Account Manager) allows a fund manager to manage multiple trading accounts from a single interface.
• Managed accounts service can take the pressure off traders, especially beginners, as experienced pros manage their transactions.
• Finally, the PAMM (Percentage Allocation Management Module) system is a boon for investors and traders to synergize their efforts while sharing the profits.

Conclusion

As a relatively new player, Hankotrade does tick several right boxes with its low minimum account size, low spreads, and useful broker features like MAM, Managed accounts, and PAMM.

However, the absence of a serious regulatory framework raises questions about fund security, a critical aspect that traders can't ignore. Therefore, we advise traders to weigh these aspects carefully before making a decision.

Remember, while diversity and accessibility are crucial in trading, nothing beats the safety of your funds. It's always better to trade safe than sorry!