Before Trading with Hankotrade, See if Hankotrade is the Right Broker in this Hankotrade review and Why It’s on Our Broker Alert List
Before you consider trading with Hankotrade, it’s important to evaluate whether this broker is the right choice for you. Hankotrade has been flagged on our broker alert list due to several red flags that suggest potential risks for traders. This comprehensive Hankotrade review will assist you in making an informed choice. For more information on the main issues with this broker, see the Hankotrade review.
Website: https://hankotrade.com/
Website Availability: YES
Official Address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines
Regulation: Unregulated
Warned By: Not recommended by the review website like Fraud Complaints
Domain Status:
Name: HANKOTRADE.COM
Registry Domain ID: 2375878737_DOMAIN_COM-VRSN
Registered On: 2019-04-02T16:47:09Z
Expires On: 2027-04-02T16:47:09Z
Updated On: 2024-03-02T04:53:05Z
Facts that Determine Hankotrade is a Fraudulent Broker
Hankotrade, an online broker operating through https://hankotrade.com/, has raised concerns for potentially engaging in scam activities. Despite being operational since 2019, it is unregulated and registered in St. Vincent and the Grenadines, a jurisdiction often associated with limited financial oversight. Review platforms like Fraud Complaints explicitly caution against its use. Although the website remains active, its regulatory status is a red flag. The domain, valid until 2027, suggests a long-term operation, but users should exercise caution given the lack of official regulation or credible endorsements. Hankotrade’s unverified operations and negative reviews make it a risky choice for traders.
Key Points to Consider When Deciding if a Broker is Reliable or a Scam
There are important considerations to make when reviewing any broker, including Hankotrade, to determine whether the broker is trustworthy or potentially fraud:
- Regulation and Licensing: One of the most important aspects of any reputable broker is their regulatory status. A trustworthy broker should be licensed by recognized financial authorities such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or the U.S. Commodity Futures Trading Commission (CFTC). Without these licenses, there’s little oversight of the broker’s practices, which increases the risk of unfair practices and financial loss.
- Customer Reviews and Reputation: Reviews from existing or past users provide valuable insights into a broker’s reputation. However, you must ensure the reviews are authentic. Fraudulent brokers often generate fake reviews or manipulate user feedback to create a false image. If the reviews are overwhelmingly negative or too good to be true, they may not be genuine.
- Withdrawal Issues: A hallmark of fraudulent brokers is their difficulty or refusal to allow traders to withdraw funds. If you find it hard to get your money back, it could be an indication that the broker isn’t trustworthy. Always ensure you can easily withdraw your funds from a broker before deciding to trade.
- Clone Websites and False Claims: Scammers often create clone websites that closely resemble the legitimate broker’s website to mislead traders. Be cautious if you come across websites claiming to offer the same services without clear identification of their regulatory status.
- Hidden Fees or Charges: Fraudulent brokers may have unclear or hidden fee structures that make it difficult for traders to understand the cost of trading. A transparent and fair broker will provide clear details about any fees or charges before you make any commitments.
Claim a Refund from Hankotrade?
- Gather Evidence: Keep detailed records of all your communications with Hankotrade, including emails, chat logs, and screenshots of your account activity.
- Chargeback Process: If you made payments via credit card or other secure methods, you may be able to initiate a chargeback. A chargeback can reverse a payment, which may aid in retrieving your funds. Contact your bank immediately to start this process and inform them about the potential fraudulent activities of Hankotrade.
- File a Complaint with Authorities: If a chargeback doesn’t work or isn’t possible, your next option is to file a complaint with the relevant authorities. Regulatory bodies can often investigate and take action against brokers operating without proper licenses or engaging in fraudulent activities.
Why Hankotrade is Under Scrutiny – Broker Alert
Several issues have brought attention to Hankotrade, such as its lack of regulatory oversight, poor user experiences, and other issues raised by traders. You should be cautious when dealing with brokers who don’t provide enough details about their business operations or regulatory status.
At Fraud Complaints, we are dedicated to assisting individuals who have been misled by fraudulent brokers and other deceptive schemes. Our team of experts works to help victims and provide a free consultation.
Be aware of other potential schemes in the trading world, such as Forex Trading Scams, Cryptocurrency Scams, Pump and pump-and-dump tactics, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Binary Options Deceptions, and more. If you have fallen victim to any fraudulent schemes, including those related to Hankotrade, take action immediately to protect your funds.
If you have already fallen victim to Hankotrade fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from Hankotrade.
Check more about fraudulent brokers
Visit our Facebook Page
Visit Twitter
Note: The Hankotrade review is influenced by some existing Hankotrade reviews online and we have created an original Hankotrade review based on known facts. We are not responsible for any legal actions taken by any entity favoring Hankotrade company.