If you’re interested in trading CFDs (Contracts for Differences), including forex, crypto, stocks, and commodities, look no further than The Kings of Transparency (KOT4X) and Hankotrade online forex broker. KOT4X offers a variety of benefits, including four distinct account types, a minimal minimum deposit requirement, fair commissions, and access to the widely used MetaTrader 4 (MT4) platform. However, it also has several serious flaws, such as a lack of regulation, poor quality customer support, and unclear methods for withdrawing funds from and depositing funds into an account using bitcoin.
In contrast, Hankotrade is a Seychelles-based brokerage. The firm promotes its service as “real ECN trading,” with tight spreads (as low as 0 pips), significant leverage, and access to several currency pairings, digital currencies, commodities, and indexes.
One way Hankotrade stands apart from more conventional brokers is its complete acceptance of cryptocurrency for deposits and withdrawals. But the money in the account is worthless paper bills. Hankotrade is an ECN broker that boasts excellent trading conditions at rock-bottom prices. The highest leverage that may be used on Hankotrade is 1:500. The funds you deposit or withdraw from Hankotrade will never cost you a dime. Blockchain and foreign exchange fees still apply.
Hankotrade Overview
Research indicates that Hankotrade was established in 2018 and is headquartered in Seychelles. The broker must adhere to the rules set out by the FSA (Financial Services Authority of Seychelles).
When clients place orders with Hankotrade, those requests go straight to the liquidity providers, eliminating potential delays or bias in the trade execution process. The robust MetaTrader 4 trading platforms are made available by the broker for online trading of various financial instruments in various asset classes, such as foreign exchange, indices, commodities, and cryptocurrencies. They provide advantageous market circumstances for trading, various trading accounts to suit individual needs, and a selection of trading instruments to facilitate routine transactions.
Providing retail and institutional clients throughout the globe with an excellent trading environment and the means to fulfill their full potential is stated as Hankotrade’s primary purpose. The broker’s workforce comprises seasoned traders who have worked in global markets, from Asia to North America.
Consider them if you need a no-frills broker who can get you into the market quickly and easily. The online broker Hankotrade offers a wide variety of trading tools and services.
Trade Forex, cryptocurrencies, stocks, and commodities with narrow spreads from 0.0 pips, no commissions, fast trade execution rates, and high leverage of up to 1:500 on user-friendly trading platforms. The minimum first deposit needed by the broker is only $10. Simultaneously, they provide no-cost trial accounts and accept bitcoin deposits. They also provide an Islamic swap-free account to cater to Muslim traders. All of this is supported by a first-rate customer service team available anytime.
KOT4X Overview
Kings of Transparency (KOT4X) is global online forex, crypto, and CFD broker with state-of-the-art trading technologies. They provide a safe ECN trading environment and over 250 trading instruments spanning various asset classes, including currency pairs, commodities, cryptocurrencies, equities, indexes, metals, and alternative energy sources. When compared to traditional brokers, cryptocurrency exchanges are always open for business. For the many reasons I will outline in my comprehensive KOT4X review, the exchange ranks among my top choices for trading cryptocurrencies.
Opening an account with KOT4X is quick and easy, and you may be ready to trade in just a few minutes. You may deposit and invest with as little as $10, which is a shallow minimum. And suppose you want to try out their trading platform before committing any real money. In that case, they provide demo trading accounts so you can become comfortable with the platform and practice your trading techniques without risk.
KOT4X offers variable leverage of up to 1:500. In trading, leverage enables you to take on larger position sizes than you would be without it.
The broker avoids potential conflicts of interest by passing orders directly to liquidity providers through its STP execution mechanism. As a result, this guarantees that the most excellent liquidity providers in the financial sector are tapped for transactions and that those deals are executed at the best possible rates with little slippage and delays.
KOT4X utilizes many liquidity providers that work together to construct a liquidity pool. You can see the best available price at any given time by sending your order directly to this liquidity pool, which contains both the bid and asks prices. A professional and novice trader will find the broker’s trading platform very functional.
| Features & Services |  |
 |
|---|---|---|
| Overall rating | ||
| Execution of orders | ||
| Investment instruments | ||
| Withdrawal speed | ||
| Customer Support | ||
| Variety of instruments | ||
| Trading platform | ||
| Funding Methods | ||
| Safety & Security |
Hankotrade vs. KOT4X Service & Feature Comparison
Costs
Both of our brokers charge the exact fees and spread. No commission is charged for regular accounts; however, the ECN account charges $2 (per side, each $100,000 in position size). When trading with an ECN Plus account, you’ll pay a one-dollar commission (per side, every one hundred thousand dollars in position size).
Spreads on the STP account start at 0.7 pips, while the ECN and ECN Plus accounts start at 0.0. There is no monthly maintenance fee or commission associated with this account. There are no hidden fees or penalties for dormant accounts at Hankotrade.
Account Types
Traders at Hankotrade may choose from various account types to best meet their needs. Traders can select an appropriate account based on their initial capital commitment, trading style (whether you like narrow spreads or reduced fees), and other factors. The broker offers narrow spreads beginning at 0.0 pips and leverage of up to 1:500, which are superior to those offered by its immediate competitors.
For MT4 trading, KOT4X offers four account types: Standard Pairs, PRO Pairs, VAR Pairs, and MINI Pairs. Commissions and spreads are the main differentiating factors between the various account types.
Education and Research
There is a detailed frequently asked questions (FAQ) area on the broker’s website where traders may obtain quick solutions to frequently asked questions. Research and teaching are two areas where Hankotrade falls short. I generally count on a broker to provide extensive educational materials, such as market research and guides on online trading safety, to help me form sound trading strategies. Let’s keep our fingers crossed that they’ll take note and maybe introduce a trading academy soon.
Currently, the broker’s website does not have any instructional resources. Even though it would be fantastic if they provided rookies with learning tools like trading tips and movies, there is already a wealth of knowledge available online, even on this very page.
In addition, the broker offers demo trading accounts, which may be used to get acclimated to the platform and practice trading methods without actually placing any money at risk. Before venturing into the market, most traders will have practiced their skills on a demo account. This allows them to make errors without fear of repercussions and better prepare for their challenges.
Range of Investments
When you enroll and validate your ID, you’ll have access to Contracts for Difference (CFDs) on various FX currency pairs, equities, indices, and cryptocurrencies. As a provider of over a hundred different financial products, they provide a wide selection to satisfy any investor’s needs. With Hankotrade, you may trade Contracts for Difference (CFDs) on foreign currency pairs, equities, commodities, and digital currencies, among other asset classes. Whatever your passions may be, you can always find something to barter.
Funding Accounts
To make deposits and withdrawals, KOT4X supports bitcoin (BTC). Customers may rapidly transfer any amount without the need to deal with banks. From there, they can quickly move funds to any of their trading accounts and begin trading online. Withdrawals can be requested via the account’s back office and will be processed by KOT4X within 48 hours. Blockchain.info makes it possible to monitor your cash in and cash out transactions. They, along with Hankotrade, are one of the few brokers who accept crypto financing.
Visa and MasterCard aren’t accepted, neither are the digital wallets WebMoney and QIWI Wallet.
Trading Technology
With the MetaTrader 4 trading platform, clients of KOT4X and Hankotrade may trade numerous financial products. Forex traders worldwide agree that MT4 is one of the most trustworthy trading platforms. When it comes to foreign exchange and CFD trading, it is a well-liked option. The website is user-friendly and cost-free.
MT4 supports market and pending orders, two types of execution modalities. To improve the client’s trading experience, the platform provides a wide variety of trading tools. Typical technical indicators might help you determine the market’s potential next move. Select from various chart kinds and periods, ranging from a single minute to an entire month. Due to this, traders of various styles, from short-term “scalpers” to those with a longer time horizon, may find success on the Hankotrade platform.
The MT4 platform is available as a desktop program for Microsoft Windows and Apple macOS, as well as an online trading terminal that runs in any current web browser.
The MT4 online platform requires no additional software installation or download and is compatible with all significant current web browsers.
An integral element of the desktop platform is the web-based version of MetaTrader 4, which offers the same benefits as the original. This guarantees that the online platform is always accessible and works well with the rest of the MetaTrader 4 community. All information sent through the app is encrypted to ensure user safety. Meta Trader 5, which Hankotrade also supports, makes them the market leader.
As a successor to the widely used MT4 platform, MT5 is quickly gaining traction in the forex trading community. Despite MT5’s superior features and functionality, most brokers only provide MT4. Over time, that might change if more forex and CFD traders migrate to the more robust MT5 platform.
The interface and general feel of MT5 are identical to those of MT4. One key distinction is that it provides access to various charts, periods, and technical analysis tools. Additionally, an economic calendar is integrated, and more order kinds are available in MT5. It also has a multicurrency strategy tester and depth of market (DOM) pricing, allowing for the simultaneous back-testing of expert advisers across different instruments. Unfortunately, MT4 is unable to perform this action.
Simple but complete, the MetaTrader 5 interface has everything a trader needs to get started in the markets. You may streamline your trading with a user interface that integrates many menus, toolbars, and service windows into a single, flexible, and easy-to-use interface.
The multi-asset platform MetaTrader 5 is widely used by day traders because it is “the fastest, most efficient, and most cost-effective trading platform in the world,” allowing them to participate in the best trading conditions.
Mobile Apps
The MT4 applications for several mobile platforms are available for download from their respective app stores. Mobile applications help trade the markets and access one’s account while on the road.
The MetaTrader 4 App is a full-featured trading platform for Android and iOS smartphones. The program gives you all you need to trade hundreds of instruments online with KOT4X. It supports the most significant number of mobile devices. It has a comprehensive order history, live charts, in-depth technical analysis, and more.
With the MetaTrader 4 Mobile App, traders can access robust features in a portable package, allowing them to trade whenever and wherever they choose.
Other Features
To guarantee that their clients have a smooth and trouble-free online trading experience, Hankotrade provides them with access to several specialized trading tools in addition to the popular MetaTrader 4 platform. Many helpful trading tools, such as a virtual private server (VPS), a Forex calculator, and more, are included with the MetaTrader 4 trading platform.
Unfortunately, KOT4X does not offer additional trading tools like Autochartist or Trading Central. Still, the platforms come equipped with a wealth of resources that can aid market research and trade execution. The MQL marketplace provides easy access to various free and paid add-ons for the platforms themselves.
Customer Support
By completing the contact form on the brokers’ website or sending them an email, you may contact the KOT4X customer care team directly. The website also features an automated chat feature that can address specific frequently asked issues. Their response time and quality of service have always been outstanding for me. There has never been a time when I couldn’t get in touch with them when I needed help.
You may contact Hankotrade’s helpful customer service staff by email, chat, or social media. Although there is no phone number, most customers will find their needs met through the live chat service.
My Preference: Neither One Wins
Traders with little experience may find Hankotrade challenging to use. The research and education portion are sparse, save from the economic calendar, while advice and assistance are relatively minimal. Due to the broker’s lack of oversight, clients must exercise extreme caution and sound risk management if they want to work with them.
Overall, the product looks ideal for intermediate or expert traders, mainly owing to the reduced trading charges and the absence of instructional materials and research insights.
Deposits and withdrawals may only be made in bitcoin. Yet, the account balance is held in fiat currencies, which seems to be a significant downside. Thus, there is a more tremendous potential for loss due to currency fluctuations and higher transaction costs. Another red sign for customers looking for reliable established forex brokers is the lack of regulatory oversight. Before making any decisions, I would consider each of these brands seriously.
FAQ
Does Hankotrade offer CFD & forex trading?
Foreign exchange (FX) trading is one of several assets available on Hankotrade. However, as the broker is a CFD and FX provider, you only trade the underlying asset values, not the physical goods themselves.
Does Hankotrade have a demo account?
You may evaluate Hankotrade before committing to a demo account.
Is Hankotrade safe?
Hankotrade is a legal business entity operating outside of the law. Consequently, traders must recognize all the additional dangers when dealing with an unregulated broker.