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Introduction: Who is Hankotrade—and Should You Be Worried?
If you’ve recently come across the broker Hankotrade and felt unsure about its legitimacy—you’re not alone.
Hankotrade presents itself as a modern, high-leverage forex and CFD broker, claiming to offer competitive spreads and seamless access to global markets. Founded in 2019 (or possibly 2010), the company promotes features like ECN execution, crypto deposits, and an easy-to-use web-based platform. On the surface, it looks appealing.
But beneath this polished image lie serious red flags.
Hankotrade is an unregulated broker operating offshore, which means it’s not supervised by any recognized financial authority. And when there’s no oversight, your funds are at real risk. This review explores everything you need to know—so you can make an informed decision before (or after) depositing your money.
If you’ve already experienced withdrawal problems or noticed suspicious behavior from Hankotrade, contact us immediately. We’ve helped victims of broker scams recover and take back control.
1. Regulatory Status: The Most Critical Factor
Let’s be clear from the outset: Hankotrade is not regulated by any Tier-1 financial authority.
This alone should raise major concerns. Regulated brokers are supervised by government bodies that enforce strict compliance, financial transparency, client fund protection, and dispute resolution. Hankotrade offers none of that.
Although the company claims to offer “negative balance protection” and “account segregation,” these promises are not verified, monitored, or enforced by any official regulator. That means if things go wrong—if your funds are frozen, your profits are wiped out, or your withdrawals are blocked—you’ll have no legal recourse and nowhere to turn.
What does this mean for you?
- Your funds are not insured or separated under any regulatory framework
- There is no audit trail, no third-party financial oversight
- You are completely exposed to the broker’s internal policies, which may change without notice
- If you complain, there’s no authority to investigate or intervene on your behalf
This is not just a hypothetical risk. Unregulated brokers are statistically far more likely to manipulate trades, delay or reject withdrawals, and use unethical marketing tactics to trap new clients.
If you value your money, you should never trade with a broker that operates outside regulatory jurisdiction.
2. Trading Conditions: Too Good to Be True?
Hankotrade offers four account types: STP, ECN, ECN Plus, and Islamic (swap-free). On paper, they seem attractive:
- STP Account – Minimum deposit: $10, spreads from 1.2 pips (or 0.7 pips), no commissions.
- ECN Account – Deposit: $100, spreads from 0.0 pips, $2 commission per side.
- ECN Plus – Deposit: $1,000, same 0.0 pip spread, $1 commission per side.
- Islamic Account – Available across all types, swap-free.
At first glance, these conditions look competitive—especially the low minimum deposit and high leverage of up to 1:500.
But here’s the problem: these numbers are meaningless if the broker isn’t honest.
Several users have reported that trades showing clear profits were re-classified as losses, without explanation. This is a terrifying experience: you believe you’re winning, but when you try to withdraw—your account shows a negative balance.
One user described it as “the slippage scam“:
“Three trades closed in profit turned into losses. One trade showed $140 profit, but the platform turned it into a $120 loss. Another $13 profit was recorded as a $50 loss.”
When the broker controls the price feed and is unregulated, nothing stops them from altering trade outcomes behind the scenes
3. Platform & Execution: The Illusion of Control
Hankotrade uses its own proprietary platform called HankoX—a browser-based trading terminal. While it includes basic features like charting tools and order types, it lacks the sophistication, reliability, and independent verification that standard platforms like MetaTrader 4 or 5 offer.
- No MT4/MT5 support
- Limited customization and technical indicators
- No access to verified liquidity providers
- No independent plugins or audit tools
Traders familiar with MetaTrader may find the switch frustrating. But more importantly, when you trade on a closed, broker-controlled platform, you lose transparency. Execution can be manipulated, prices delayed, or trades rejected—and you have no way to prove it.
4. Withdrawals: Where Most Complaints Begin
Many of the complaints surrounding Hankotrade center around withdrawal issues.
While the company claims to process withdrawals within 3–5 business days, numerous users report unexplained delays, blocked transactions, or no response at all. Even worse, some traders claim their accounts were suddenly suspended after requesting a withdrawal, with no explanation given.
Here are common user-reported patterns:
- Support suddenly becomes unresponsive
- Promised payouts are repeatedly “under review”
- Withdrawal requests are rejected due to vague “compliance” issues
- Profitable accounts are flagged or locked
If you’re reading this and you’ve already encountered one or more of these red flags—take it seriously. You’re not imagining things. Others have reported the same.