Economy
Hankotrade Review 2023 | Notable Advantages And Potential Drawbacks
Hankotrade, an STP broker based in Port Harcourt City, Nigeria, caters to retail and professional traders. The company, while unregulated, facilitates CFD trading on currencies, metals, and cryptocurrencies.
Traders Union published a Hankotrade review in 2023, offering valuable insights into the broker’s operations and offerings. The review is integral for potential traders considering Hankotrade’s services.
Hankotrade: pros and cons
Traders Union provides an objective evaluation of Hankotrade, delving into the notable advantages and potential drawbacks of their brokerage services.
Pros
- Offers access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on desktop, mobile, and web versions.
- Provides bonuses to traders.
- Allows passive investments through PAMM and MAM accounts.
- Supports testing of trading strategies via demo accounts.
- Features variable spreads based on the traded asset.
- Ensures rapid customer support response.
- Runs an Introducing Broker (IB) program for additional earnings.
Cons
- Operates without regulatory oversight.
- Enforces compulsory account verification.
- Offers a restricted range of withdrawal options.
Overall summary
Hankotrade caters to both beginner and experienced traders. Those new to the trading world can take advantage of demo accounts to experiment with the array of instruments offered by the brokerage firm.
Expert review of Hankotrade
TU experts reveal that Hankotrade delivers a comprehensive trading environment featuring robust platforms and a transparent approach. The platform’s key features include:
- The provision of MT4 and MT5 trading platforms, with options to trade via desktop, mobile, or web versions.
- A seasoned team with experience in the asset trading industry since the 1980s, operating in global markets, including Asia and North America.
- Offers three types of accounts: STP, ECN, and ECN Plus. Spreads on standard accounts start from 0.7 pips, potentially even lower, while zero-spread trading is possible on ECN accounts in favorable market conditions.
- Leverage of up to 1:500 is offered to both professional and retail traders. The primary account currencies are USD, EUR, and CAD.
- Transparent operations are guaranteed. Detailed descriptions of trading conditions, fees, and partnership policies are available on the Hankotrade website.
- The company ensures 24/7 client support that promptly responds to queries, offering comprehensive advice and swift issue resolution.
Analysis of the main features of the Forex broker
TU analysts have comprehensively evaluated Hankotrade’s performance across various aspects, assigning the following ratings:
- An overall score of 1.62 out of 10.
- Execution of orders is rated at 1.41 out of 10.
- The range of investment instruments scores 1.83 out of 10.
- Withdrawal speed earns a score of 1.47 out of 10.
- Customer support’s effectiveness is rated at 1.77 out of 10.
- The variety of trading instruments receives a score of 1.25 out of 10.
- The trading platform itself is given a rating of 1.99 out of 10.
Comparison of Hankotrade with other Brokers
Traders Union provides a detailed comparison of Hankotrade’s features and offerings with those of other prominent brokerage firms in the market.
- RoboForex: Unlike Hankotrade, RoboForex is regulated, providing a higher level of security for traders’ investments.
- Pocket Option: Compared to Hankotrade, Pocket Option offers a wider variety of withdrawal methods, enhancing user convenience.
- Tickmill: Tickmill, unlike Hankotrade, has a stronger reputation due to its long-standing history and larger client base.
- Exness: Contrary to Hankotrade, Exness provides more diverse trading instruments, increasing investment opportunities.
- AMarkets: Unlike Hankotrade, AMarkets’ user interface is more beginner-friendly, making it an excellent choice for novice traders.
While comparing Hankotrade with other brokers, one cannot overlook Coinexx. This brokerage platform, similar to Hankotrade, provides flexible trading options but stands out with its focus on cryptocurrencies. Coinexx might be a notable choice for traders specifically interested in digital asset trading.
Conclusion
In conclusion, Hankotrade provides a variety of services, accommodating both novice and professional traders. Despite the lack of regulation, its diverse offerings, user-friendly platforms, and 24/7 customer support make it a considerable choice. For a more detailed comparison with other brokers and comprehensive reviews, we encourage our readers to visit the Traders Union website.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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