Hankotrade Review: Red Flags You Shouldn’t Ignore
It was previously asserted that Hankotrade is a forex broker registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. However, a fresh re-verification has led to the FSA revoking Hankotrade’s registration. It’s also essential to consider that the SVG FSA outrightly declares itself as not governing over forex trading or brokerage firms.
This would leave Hankotrade lacking proper supervision – a huge red flag.
Hankotrade Overview
- Company Name: Hankotrade
- Website: https://hankotrade.com/
- Address: Hankotrade Global Markets Limited, Blake Building, Corner, Houston & Eyre Street, Belize City, Belize
- Regulation Status: Not Regulated
- Operating Since: 2019-04-02
- Warned By: Not warned by any regulator
Lack of Regulation
Hankotrade is not subject to any regulatory status (FCA, ASIC, CySEC). With no regulatory force behind it, anyone who uses these sites has absolutely no legal protection if something goes wrong or they suffer a loss. This raises the potential for traders who trade on that platform.
Negative User Feedback
On platforms like Reviews.io, users have expressed concern and displeasure. A lot of them reported unanswered questions and nonexistent customer service.
A common theme in these reviews includes:
- Sudden account restrictions
- Withdrawal delays
- Poor communication
- Lack of transparency
One acknowledged he “goofed” for not doing more research before investing. To their regret, that error wasted their time and serenity.
What Recovery Services Say
Hundreds of affected users sought assistance from third-party recovery services. These services said they would help the victim recover. It was all so matter-of-fact, whether it be in a week or two months. Users said they did eventually get their money back – but not before a good deal of stress and delay.
Summary of Concerns
- No valid regulatory license
- Cancelled SVG FSA registration
- Numerous negative user reviews
- Zero protection for investors
- High risk of financial loss
Need Help? Here’s What You Can Do
If you had a negative experience with Hankotrade or lost money, please let us know. At BrokersReviewer.com, we provide detailed reviews, investigative insights, and advice on how to get your money back.
From tracking shady brokers to connecting you with professionals who treat online trading issues, your next step is here for support. Our massive broker reviews protect users from shady platforms like Hankotrade and other fake regulators.
Key Points Covered:
- Hankotrade FSA registration has been revoked
- The SVG FSA does not regulate any forex brokers
- Hankotrade is not subject to the supervision of global regulators
- Withdrawal and support issues emerge from negative user experiences
- Recovery-concerned companies have helped a few victims
Visit BrokersReviewer.com to dig deeper, read genuine broker reviews, or reach out for assistance. Shady platforms hiding behind fake credentials; you put your money there, so let us guide you towards a safer decision.
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