HankoTrade review - Pros, Cons and Traders Ratings.

2.414 • 28 REVIEWS
Updated: Jun 23, 2024
HankoTrade.com

5 star review by drrucker, USA

I've been with HankoTrade for about 3 months now, I have been nothing but impressed with them thus far. Withdrawal times have been very reasonable, the spreads are low, but the customer service has been even better. Any time I've reached out for help they've solved my issue... 

What is HankoTrade?

HankoTrade is an unregulated forex broker with Seychelles located headquarters.

MT4 and MT5 platform are available for desktop and mobile devices are the trading platforms offered by Hanko Trade.

Trading instruments include over 60 forex pairs; cryptocurrencies, including bitcoin, litecoin and ethereum; as well stock indexes, precious metal, commodities as CFDs.

HankoTrade withdrawal and deposit are only available with cryptocurrencies. Hanko broker is accepting clients from USA.

Please read HankoTrade Reviews below and share live trading experiences with this broker.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: Unknown
Address: 7 Albert Street, Victoria, Seychelles
Contact: contactus@hankotrade.com
Regional offices:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4, MT5
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (45+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ Yes
Deposit Methods: Bitcoin, Bitcoin Cash, Ether/Ethereum, Litecoin, Ripple (XRP)
Withdrawal Methods: Bitcoin, Bitcoin Cash, Ether/Ethereum, Litecoin, Ripple (XRP)
* Please check broker website for more information
2.414 • 28 REVIEWS

HankoTrade Most Helpful Customer Reviews

R
Romeithius
Midwest, USA,
Mar 14, 2023,
Registered user

They Literally Remove Profitable Trades Hours After They Close

Service use: Live Length of use: 3-6 Months
Hankotrade literally removes profitable trades after they close wiping any record of it in MT4. They then call you unethical because you had a profitable trade. If you lose money with these same "unethical" trading activities they keep that money even if it was a trade right before or after the profitable one. Trustpilot has dozen of negative reviews which get removed after only days of posting. Trustpilot doesn't seem trustworthy after witnessing the scams take place and yet only fake positive reviews seem to remain on the page leaving new users unprepared for dealing with Hankotrade.
4 traders have found this review helpful
G
Greenpn1987
kingston, Jamaica,
Dec 20, 2022,
Registered user

Update: Hankotrade rep was helpful in addressing my issue

Service use: Live Length of use: 6-12 Months
A Hankotrade representative reached out to me to address my issue. He was understanding and was eager to assist. He apologies for the inconvenience and ensured that my funds were reimbursed. For that they deserve a better rating.

Dec 19, 2022 - 1 Star On Dec 13, 2022 during cpi news using account# 4420342 I executed a winning nas100 buy trade using .40 lots (11831 -12121.9) which yielding a profit of 1163.60. Being that this was my most successful live trade to date I was very excited and I ensured I took a screenshot of the trade.

I decided at this point i would not continue any live trading for the rest of the day and proceeded to request a withdrawal. However, before doing so i transferred a some of $1.78 from another account and then initiated a withdrawal of $1269.39. Immediately after I received an email with confirmation of my request.

A few hours later I went into my mt5 account and notice that the earlier executed trade and profits was no longer reflected in my account. I immediately logged onto hankotrade.com and reported the issue to an agent who suggested that i send an email to the support group which I did. For days I have sent multiple emails requesting an update and I have shared valid evidence of the discrepancy (screenshots of the trade and profit, withdrawal confirmation email and also my mt5 journal for the day).

Today Dec 19 a clear 6 days after, they respond telling me that my trade was rejected and suggesting that going forward i should change my trading strategy and engage in more ethical trading. This after me winning the trade and making a profit. This a trade I have done for months where I have loss thousands of dollars and it was never considered unethical until I made a profit. (Trading during news).

When a broker have the power to erase trade history in mt5 , that is very very concerning. $1163 profit compared to the sums I have lost in months due to ridiculous time outs and trades opening distances away from where it is initiated. When I lose during news I have accept the loss but when i do make a profit it is now unethical and considered misuse of their platform.
2 traders have found this review helpful
N
Nicholas
Florida, USA,
Mar 3, 2022,
Guest

Robbed By HankoTrade

Service use: Live Length of use: 3-6 Months
While I was asleep, HankoTrade placed a trade on my account & it blew the remainder of my funds. My MT5 shows no activity in the journal at that time. The terminal shows a sell, & on the deals tab it shows that I bought. They offered me no help on this situation, stating that since the trade was placed at my IP address that there was no discrepancy on their part (obviously if it was a glitch in the system then it would still appear at my IP address). I asked why my trade conveyed two different messages (Buy & Sell), but they ignored my question.

I 110% recommend choosing another broker.
5 traders have found this review helpful
D
drrucker
CT, USA,
Sep 8, 2021,
Registered user

Great Broker

Service use: Live Length of use: 0-3 Months
I've been with Hanko for about 3 months now, I have been nothing but impressed with them thus far. Withdrawal times have been very reasonable, the spreads are low, but the customer service has been even better. Any time I've reached out for help they've solved my issue. I went to make a deposit today that I saw confirmed on the blockchain but hadn't reached my trading account. I reached out to them and provided some information and within minutes my money was there. They've been super quick and helpful about everything.
1 trader has found this review helpful
F
flakoobeats
New york, USA,
Jun 22, 2021,
Registered user

My Experience with HankoTrade wasn’t good at all

Service use: Live Length of use: 0-3 Months
They took $153.50 from me , Their excuse is to blame it on the Liquidity Provider that they use. Than tells me as the client to message support. when I’m showing him the proof. Take accountability as a broker don’t blame it on the liquidity provider when they are part of your business. So if they made a mistake you guys need to pay for the LP mistake. Don’t penalize the clients for your mistakes. I entered a gold sell 6/22/21 22:15 it never touched 1774.61. samething happened to me 2021 6/18 15:32 never touched 177666
4 traders have found this review helpful

Recent User Reviews of HankoTrade

T
TheIcelandicTrader
Europe, Iceland,
Mar 13, 2024,
Registered user

How Hankotrade took my money

Service use: Live Length of use: 3-6 Months
Hankotrade's handling of my situation raises serious questions about their operational integrity and responsiveness to client needs. The migration of trading platforms from MT4 to ActTrader, conducted without adequate notice, led to significant issues for me, culminating in an inability to manage my trades or access funds. The subsequent communication from Hankotrade, was fragmented, contradictory, and leading to further confusion and distress for me.

Throughout the migration, I made multiple attempts to resolve the situation through Hankotrade's customer support channels, including live chat and email. During the night of migration when I was unable to access my account (and still am) I was told my deposit would be returned to me after I had sent them proof of deposit. Live Chat agents opened tickets that weren't answered. Emails I sent, weren’t answered until later and despite my efforts, the responses from Hankotrade were delayed, incomplete, and disregarded my repeated notifications of being unable to access the account or where they had credited the funds and the amount. The broker's assurances that funds had been credited and accessible for withdrawal were directly contradicted by my continued lack of access to the account.

Moreover, Hankotrade's final response almost two months later attempts to shift the narrative by providing a breakdown of trading activity and losses that were previously uncommunicated to me for almost two months, suggesting an after-the-fact justification of the account's status. And their great offer in return? A gesture of “goodwill” in the form of “fee reimbursement”, which, considering the magnitude of the losses and Hankotrades handling of the situation, is almost comical.

This detailed breakdown of the alleged trading activity in their response only came after I got in contact with a big name trader who put me in contact with someone who I thought was a Hankotrade employee and was mediating the process of my withdrawal that Hankotrade had continuously confirmed in their emails I could make as Hankotrades own support team did not respond in any manner. He starts detailing how the account had open trades that moved against me and he had detailed confidential information about the alleged trading activity and balances on my account and it wasn’t until after the fact he told me (I have screenshots) that he was NOT an employee with Hankotrade but just a former affiliate manager with contacts at their backoffice making some behind the scene dealings. SO apparently Hankotrade was leaking my confidential account information to an unrelated third party without my consent or information. A shady way of doing business if you ask me.

Now I know they will come here with some assertions about their so-called successful migration of platforms and that they are not to blame. Statements like:

• Assuring me that ALL clients were able to successfully log in post-migration using the provided steps, implying that any access issues were isolated or due to client error. Blatantly false statement and there are plenty of reviews around (I have screenshots) that state otherwise.

• Reference to the trading losses incurred on my account and how they happened as unfortunately the market prices moved against my open trades and for this, they as a broker cannot be held responsible, thereby absolving themselves of responsibility for the account's performance.
Yes, my trades were left unattended because I was UNABLE to access my account and hedge, or protect them in any way and Hankotrade didn’t even reply to my emails or live chats during this period of so-called stop-out period.

• You should have reached out to us to have your positions closed or spoken to us about your concerns.
Well, I did that 5 times no less before my account “allegedly” stopped out and not once did they communicate to me other than that my funds would be credited. Even for 1,5 months I continually get e-mailed that said “funds are credited to your account. Log in for withdrawal”

• Highlighting the reimbursement of commission and swap fees as evidence of their commitment to client satisfaction and resolution of issues.
Sure, we robbed you of more than $260,000 here is a reimbursement of less than 3% as a gesture of valuing me as a client. Perhaps they valued my unwilling donation to their personal accounts.

The detailed behavior and ill communicated platform migration, sharing of confidential information with unrelated third parties and Hankotrade's far in between and few responses, paints a concerning picture of the broker's client service and operational transparency. Further action might be required to recover my stolen funds. It is imperative for potential clients to carefully consider these factors when choosing a trading platform.

But I sincerely hope that not a single trader with any dignity comes anywhere near thinking about using this broker again.
1 trader has found this review helpful
D
Daytrade
usa, USA,
Jan 10, 2024,
Registered user

Took away my profits and more

Service use: Live Length of use: 6-12 Months
i started a few months ago using Hanko trade. their platform some days was lacking execution or trades were closed at a huge loss in contrary of what was showing in the Profit section of MT4.
Then, before they switched platforms, they took 16,700 from 2 of my accounts as "INCORRECT TRADE'. i tried contacting them several times and all i could get was a automated message saying that my trades weren't approved. when i did also contact them for the lack on the execution resulting in huge loses, no reply either,
STAY AWAY FROM THIS BROKER. the money that they took from me was profit plus part of my initial capital
1 trader has found this review helpful
B
bla0018
Melbourne, Australia,
Dec 21, 2023,
Registered user

HankoTrade will not let me withdraw

Service use: Live Length of use: 0-3 Months
Do not deposit money with Hanko Trade. They will not let you withdraw. It's been a month chat just keeps telling me they are raising this as a priority but in reality, they are probably doing nothing. I know they are removing negative reviews and adding fake reviews to Trustpilot. Hopefully, this review can stop anyone else from getting losing money to them.
1 trader has found this review helpful
J
Jaronk4
USA, USA,
Oct 30, 2023,
Registered user

Worst broker you could possibly trade with

Service use: Live Length of use: over 1 Year
First of all, I spent the time to go through plenty of these reviews and I can 100% vouch and attest to the idea the hankotrade is a completely illegitimate broker. I have experienced 90% of what everyone else mentions in these reviews . I have been a profitable trader with hankotrade for 3 years now.. The only reason I’ve continually returned to hankotrade was due to their bonus platform which I found very beneficial however they have denied withdrawals , erased profits, manipulated trade entries levels and close levels. To paint a picture imagine patiently waiting on your entry to then enter with let’s say a 1.0 lot entry on the us30 with a spread of 4 pips. Immediately you expect to be down those 4 pips correct? Well no hankotrade Will more than likely enter you in at a price point the market has not even reached yet. No kidding I have plenty of screen recordings and screenshots live in effect. You will begin your trade down about 25 pips and than the worst part whether you close the trade in a loss or wait for profits on your now horrible entry you will then be hit with a closed trade off by another 30 pips where the market has not even reached .. Lately it seems someone has been able to change my password and even change 2FA On my account with my funds in it! Hankotrade claims my email has been hacked.. I am ironically a cyber security professional apart from this and I can assure that my email has not been hacked. This has concluded my trials and errors with hankotrade .. Although I am profitable due highly to my skills only I most definitely have been robbed of over $30,000-$50,000 worth of profits with proof . Beware.
1 trader has found this review helpful
W
woggletoggle
remote, USA,
Oct 19, 2023,
Registered user

Execution delays and other problems

Service use: Live Length of use: over 1 Year
delay your execution, manipulate trades, or freeze trading completely due to unexpected maintenance or latency
1 trader has found this review helpful