1. Why should I choose Hankotrade for my forex trading experience?
Hankotrade has maintained its reliable and client friendly reputation through its low spreads, easy deposits and instant withdrawals. Hankotrade allows its clients to indulge in an outstanding trading experience that knows no limits. In addition to arbitrage, EAs, algorithms and scalping, we also offer a wide range of trading instruments.
2. Do I have to open an account with Hankotrade to start trading?
Yes, in order to trade it is necessary that you first sign up for an account with Hankotrade on our website.
3. Can I delete my account if I am no longer interested in trading?
Yes, it is possible for you to delete/close your account with Hankotrade. However, we will keep your data on our files for a minimum period of 7 days after you request account deletion.
4. What account types does Hankotrade offer for trading?
Hankotrade offers 3 major account types. These are STP account, ECN account, ECN Plus account and lastly, Islamic account. You can head over to our ‘Account Types’ section to read about each of these account types in detail.
5. Can I have both a demo and live account functioning at the same time?
Yes, this is possible with Hankotrade. Simply install an Hanko Act Trader platform for each of your Hankotrade forex trading accounts.
6. Is it possible to change the balance of my demo account on Hankotrade?
Yes, you can change the balance of your demo account by sending an email to our Support Team or simply ping un on our live chat with your account number and your desired account balance.
7. Are the trading conditions identical on my demo account and live account?
Yes, the trading conditions are kept the same to provide you with a factual and useful learning experience.
8. Is it possible to change the settings of my demo account?
Yes, you can change your demo account settings just like your demo account balance. Simply send our Support Team an email or ping us on live chat with your demo account number, and your desired changes and Hankotrade will ensure that your settings are updated according to your liking.
9. Does Hankotrade allow the broker to broker transfers?
No, broker to broker transfers through Hankotrade are not possible. We only offer standard payment methods to our clients.
10. What is the minimum deposit that I must make with Hankotrade?
The minimum deposit required by Hankotrade is $10 for a STP and $100 for ECN account. The minimum deposit for a ECN plus account is $1000.
11. Will I get charged by Hankotrade for any deposits and/or withdrawals?
No, Hankotrade does not have any charges on deposits and/or withdrawals for its clients. We have a zero fees policy for our clients in this regard.
12. How long will it take for Hankotrade to process my withdrawal request?
Hankotrade processes all withdrawals within one working day on business days to ensure a smooth and efficient forex trading experience for its clients.
13. Is it possible to withdraw using a different payment method than the one employed for depositing?
Under usual circumstances, Hankotrade processes withdrawals through the same payment method that was used to make deposits. However, we can send you your profits via any other method under your name if you specifically request us to do so.
14. Can I request a withdrawal with Hankotrade if I have an open position?
Yes, it is possible for you to withdraw your money if you have an open position. However, for this, you’re your free margin must exceed the value listed in the withdrawal instruction. Your withdrawal request cannot be processed and carried out until you have sufficient trading margin on your Hankotrade account, have submitted a corrected withdrawal form or have closed any open positions on your Hankotrade trading account.
15. What is Hankotrade’s trade execution model?
Hankotrade is an ECN Broker and we have a fully automated No Dealing Desk (NDD) execution, model. This ensures liquidity from leading, international banks/liquidity providers.
16. Does Hankotrade offer tick data?
No, as of yet, Hankotrade does not offer tick data. It is not possible for the Hanko Act Trader platform to store all ticks, rendering the tick information inaccurate. Furthermore, tick data is known to slow down servers due to a large amount of information. For these reasons, we do not provide tick data.
17. Are there any restrictions for trading with Hankotrade?
There are no restrictions on the platform
18. What is slippage in trading?
Hankotrade, being an NDD firm, only settles its clients’ trades and retranslates quotes for them. Market prices are never stagnant. Thus, a slippage can happen in case of any sharp or sudden increase or decrease. It must be kept in mind that the risks of slippage occurring are much higher in case of any news that affects the market or high volatility. You can either benefit or lose in these situations depending on whether you get a positive or a negative slippage.
19. Are hedging and scalping permitted while trading with Hankotrade?
Yes, both are allowed. Hankotrade poses no restrictions or limits on its clients’ trading activities.
20. What are Hankotrade’s trading hours?
Hankotrade is available to its clients for trading 24 hours a day, 5 days a week. You can trade on Hankotrade from Monday to Thursday at all hours and on Fridays till 12PM (GMT+2).
21. Does Hankotrade have a dealing desk?
No, Hankotrade does not have a dealing desk. We are a trading firm operating as a No Dealing Desk (NDD) broker with all our procedures on automation. All of our orders are settled with liquidity providers thus ensuring that there is no conflict of interest with our clients.
22. Is it possible for slippage to occur on your trading platform?
Yes, slippage can occur owing to any moving or influencing news or announcements.
Moreover, market conditions also determine whether a slippage can occur. At Hankotrade, both negative and positive slippage can occur, depending on the market.
23. How many platforms are available at Hankotrade for trading?
Currently Hankotrade offers Hanko Act Trader Desktop, Hanko Act Trader Web-trader, Hanko Act Trader IOS and Android.
24. Does Hankotrade offer swap-free accounts for its Muslim clients?
Yes, Hankotrade offers swap-free accounts that function in accordance with the Shariah law to facilitate its Muslim clients. Follow this link (insert link) to read more about our Islamic accounts.
25. What is the procedure for adding IB commissions to my account?
Any trades settled by your client will be shown to you immediately and automatically in your IB room, along with your calculated IB commission amount. Your commission amounts are accumulated in your IB balance at the end of each month, from where they can be withdrawn.
26. What is negative balance protection in forex trading?
Sudden changes and fluctuations in the market can affect you both negatively and positively. Negative Balance Protection is a measure taken to ensure that you do not incur any serious losses in case of any negative trading market conditions. It caps a limit on the maximum losses that you can incur. With Negative Balance Protection, our clients do not lose any more than the total sum invested for CFDs.
27. What is arbitrage in trading?
Arbitrage in forex trading is buying a security at one market and at the same time, selling it at a higher price at another market, thus earning a risk-free profit from the temporary difference in the prices at the different markets.
28. How can I become a Professional Client with Hankotrade?
In order to become a professional client, you must meet all the requirements and the criteria that is outlined for an elective Professional Client. However, it is essential that you acquaint yourself with the negative implications of going professional in addition to the positive ones.
29. Will I be asked to submit any evidence to reclassify myself as a Professional Client?
Yes, you are required to submit proof of your experience, knowledge and expertise in forex trading. This can include documentation, bank statements, share certificates and broker accounts etc.
30. What can I include in my investment portfolio?
Your investment portfolio can include a number of documents including share certificates, bank statements, and SIPs. It must be noted that Hankotrade does not accept company pensions, fixed assets or personal commodities.