Broker Review

Unauthorised firm details

Name: Hankotrade.com


Website: hankotrade.com

Hankotrade Global Markets Limited presents itself as a Forex and CFD broker offering traders the advantages of a “true ECN broker.” The site promises multiple account types, high leverage, risk-free bonuses, and a proprietary trading platform. However, a closer inspection raises significant concerns about its legitimacy.

Why Hankotrade Raises Concerns
While the website appears professional and the trading platform, HankoX, includes features like one-click trading, chart indicators, and API support for automated strategies, the content lacks essential transparency. Key information such as contract specifications, swap rates, order execution rules, and trading conditions is missing. Registration forms require only basic personal details and offer no verification, reflecting the absence of KYC or AML procedures. Deposits are accepted primarily via cryptocurrency, further increasing risk for traders.

Lack of Regulation
Hankotrade claims an office location in Belize, but investigations show no record of the company, Hankotrade Global Markets Limited, in the Belize Companies Registry or global corporate databases. The broker operates without any license from recognized regulators. Participation in unlicensed brokerage activities is illegal, and the lack of registration prevents verification of trading legitimacy.

Risky Trading Conditions
The broker offers three account types: STP, ECN, and ECN Plus, with minimum deposits ranging from $10 to $1,000 and leverage up to 1:500. Swap-free (Islamic) accounts are available, but key details like stop-loss distances and pending order rules are not published. Bonus offers, including a 100% deposit bonus, are advertised but inaccessible, violating standard regulatory restrictions. Combined with high leverage, these conditions expose traders to extreme financial risk.

User Experiences and Fraud Indicators
Despite an extensive online presence with thousands of positive reviews, independent analysis suggests that many of these reviews are likely manipulated. Negative reports indicate blocked withdrawals, sudden spread widening, and arbitrary account restrictions. Specialized portals such as WikiFX rate Hankotrade extremely low, highlighting the lack of registration, licensing, and transparency.

Conclusion
Hankotrade exhibits all hallmarks of a high-risk, potentially fraudulent broker. Operating without official registration or licenses, accepting primarily cryptocurrency deposits, and withholding critical trading information, the platform should be avoided. Traders risk losing funds with little chance of recovery.
Investors should only use brokers licensed by reputable authorities such as the FCA, ASIC, or CySEC. If you have deposited funds with Hankotrade, document all transactions, cease further deposits, and report the issue to financial authorities.