When it comes to choosing a reliable forex broker, Hankotrade and Exness are two names that often come up. Both brokers offer competitive features and services, but which one is right for you? In this blog post, we will compare Hankotrade vs Exness based on key factors like regulation, trading platforms, fees, account types, and more to help you make an informed decision.
This table highlights the main features of both brokers, making it easier to compare and decide which broker suits your trading style.
| Feature | Hankotrade | Exness |
|---|---|---|
| Regulation | Offshore (Seychelles) | FCA (UK), CySEC (Cyprus), etc. |
| Account Types | ECN, STP, Crypto | Standard, Pro, Raw Spread, Zero |
| Leverage | Up to 1:500 | Unlimited (on some accounts) |
| Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader |
| Spreads | As low as 0.0 pips (ECN accounts) | Competitive; Zero and Raw Spread offer low spreads |
| Customer Support | 24/5 via live chat, email, phone | 24/7 multilingual support |
| Minimum Deposit | $10 (varies by account) | $1 (Standard Account) |
| Commission | Yes (on ECN accounts) | Yes (on Raw Spread and Zero accounts) |
| Trading Instruments | Forex, Crypto, Indices, Metals | Forex, Crypto, Indices, Metals, Energies |
1. Overview of Hankotrade
Hankotrade is a relatively new player in the forex market but has quickly gained a reputation for offering competitive trading conditions. The broker focuses on providing low-cost trading with excellent execution speed.
- Regulation: Hankotrade is an offshore broker, registered in Seychelles. While it offers attractive features, its regulatory status might be a concern for some traders who prefer brokers with tier-1 regulations.
- Account Types: Hankotrade offers three main account types: ECN, STP, and Crypto. These accounts come with tight spreads and low commissions, making it ideal for day traders and scalpers.
- Leverage: Hankotrade offers high leverage of up to 1:500, which is appealing to experienced traders who want to maximize their returns with smaller capital.
- Trading Platforms: The broker supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular trading platforms in the world.
- Customer Support: Hankotrade provides 24/5 customer support via live chat, email, and phone.
2. Overview of Exness
Exness is a well-established broker in the forex industry, known for its transparency and regulatory compliance. With a strong global presence, Exness caters to traders of all experience levels.
- Regulation: Exness is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This gives traders more confidence in the safety of their funds.
- Account Types: Exness offers a variety of account types, including Standard, Pro, Raw Spread, and Zero accounts. This makes it suitable for both beginners and advanced traders.
- Leverage: Exness provides flexible leverage, with some accounts offering unlimited leverage, a unique feature in the forex industry.
- Trading Platforms: Like Hankotrade, Exness supports both MetaTrader 4 and MetaTrader 5. In addition, Exness offers its own proprietary WebTrader platform.
- Customer Support: Exness provides 24/7 customer support in multiple languages, making it highly accessible for traders around the world.
3. Hankotrade vs Exness: Key Comparisons
a) Regulation and Safety
When it comes to regulation, Exness is a clear winner. It is regulated by several well-known financial authorities, providing traders with an added layer of security. Hankotrade, on the other hand, is an offshore broker, and while it has a good reputation, it lacks the strict oversight that Exness enjoys.
b) Account Types
Both brokers offer multiple account types catering to different trading needs. Hankotrade focuses on offering low-cost trading options with its ECN and STP accounts, which are suitable for high-frequency traders. Exness provides more variety in its account offerings, including Standard and Pro accounts for beginners and professionals alike.
c) Leverage
Hankotrade offers leverage of up to 1:500, which is high but still within the norm for offshore brokers. Exness, however, takes it a step further by offering unlimited leverage on some accounts, which can be appealing for traders who like to take larger positions with smaller capital.
d) Trading Platforms
Both brokers use the highly popular MT4 and MT5 platforms, giving traders access to advanced charting tools, indicators, and expert advisors. However, Exness goes a step further by offering a proprietary WebTrader platform, which is ideal for traders who prefer a web-based trading experience.
e) Fees and Spreads
Hankotrade is known for its tight spreads, particularly on its ECN account, where spreads can start as low as 0.0 pips. This makes it an attractive option for scalpers and high-frequency traders. Exness, while offering competitive spreads, tends to have slightly wider spreads on its Standard accounts. However, its Zero and Raw Spread accounts provide similar low-cost trading to Hankotrade’s ECN option.
f) Customer Support
Both brokers offer solid customer support, but Exness stands out for its 24/7 availability and support in multiple languages. Hankotrade also offers efficient support but is limited to 24/5 availability.
4. Which Broker Should You Choose?
- Choose Hankotrade if you’re looking for an offshore broker with low-cost trading, high leverage, and access to the MT4 and MT5 platforms. It’s an excellent option for traders who prioritize tight spreads and commission-based trading.
- Choose Exness if you prefer a more established, regulated broker with a global presence. With flexible leverage options, a variety of account types, and 24/7 multilingual support, Exness is ideal for traders who prioritize security and versatility in their trading environment.
Conclusion
Both Hankotrade and Exness have their strengths, but your choice ultimately depends on your trading needs. If regulatory security and a wide range of account options are important to you, Exness is the better choice. However, if you’re looking for a broker that offers competitive pricing with high leverage, Hankotrade may be a more suitable option.
By understanding the differences between these two brokers, you can choose the one that best aligns with your trading goals and preferences.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.