Hantec Markets or Hantec FX is regulated in the United Kingdom and was initially developed as a financial institution in Hong Kong. It primarily dealt with financial services and wealth management. Established in 1990, Hantec FX is one of the oldest brokers in the industry, but only stated Forex trading in the year 2009.
Since then, the firm has achieved the much-sought-after the status of being a leader in the Forex world. Thus, it has a lot of experience as well as in-depth knowledge of the industry to offer one of the best Forex brokerage services in the world.
Its traders are mainly referrals gained through positive reviews of its services from the die-hard clients. The firm depends on the positive relationship with its current customers to gain more clienteles over the years.
Hantec Markets offers different types of trading accounts to suit traders trading needs. Each account has its own benefits, depending on the trader’s trading type. CFD and Forex account denominations are provided in seven difference currencies: AED, CAD, USD, GBP, EUR, AUD, and CHF
The accounts are:
First, Hantect FX offers a Standard Account that requires a leverage of 1:200 and a minimum deposit of $1,000. The account can be opened as a personal account, a joint account (for two or more people), or a corporate account (for institutions). The spread of this account vary between 1.5 to 3 pips and it doesn’t provide any special benefit when compared to other Forex brokers.
A Demo Account is also provided upon request but it is only active for 30 days – a rather short duration in the business of Forex exchange. In fact, traders cannot get enough time to practice trading and gain the confidence required to move to a live account.
This account is exclusively for traders who follow the Sharia law and can/t trade in swap/interest incurring accounts.
The Firm and Security of Funds
Hantec Markets Broker has been on top of the Forex trading market for over 20 years. This is because it genuinely puts traders’ objective and interest first using its model that was designed to do just that. Actually, 70 percent of its new clients come from referrals from satisfied customers.
The Hantec brand includes Hantec Markets Australia Pty Ltd, which is licensed by the Australian Financial Service Commission and Hantec Markets Ltd, which is registered and regulated in the United Kingdom’s financial conduct authority. For its bullion related subsidy which is run as a legally exempt commodity trade in Hong Kong, the firm’s Hantec Bullion Limited is recognized by the Chinese Gold and Silver Exchange.
Hantec provides spot trading on 13 CFDs, 25 futures CFDS, and 42 forex pairs through the famous MetaTrader4 platform established by MetaQuotes Software Corporation. It also provides 28 currency pairs through the Currenex Classic and Currenex Viking desktop platforms from State Street Global Markets.
When it comes to the security of fund, traders can rest assured of having registered with a trustworthy and secure broker. Their losses are well-covered by the Financial Services Compensation Scheme up to $50,000.
Moreover, Hantec Markets has scooped some of the most prestigious awards in the industry today. For instance, it took the Best FX Broker for Western Europe and the Best FX broker for South East Asia for the transparent approach in Forex trading. Its amazing technology has also been recognized as well as the exemplary customer support service.
Trading Conditions and Platforms
Set at $1,000, the minimum deposit at Hantec Markets is on the high-end especially since there are firms that set it at around $5. However, that’s still reasonable given since this is a trading account.
At Hantec Markets, all traders enjoy a maximum leverage of 1:200, which is a low amount of margin since some brokers set a leverage of over 1:2000. However, this is still a high leverage considering that the minimum deposit is set at $1,000; hence, there is a chance of facing a margin call if a person uses the whole leverage in just one exchange in a volatile market.
Spreads and Commissions
The spreads and commissions at Hantec Markets usually depend on the platform used to trade. MetaTrader4 is a commission-free account that offers a spread of 1.8 pips on USD/EUR (minimum balance is $1,000). Currenex Viking comes with a $3 commission for every 100,000 units or $6 per round-turn lot included in lower underlying spreads (minimum balance is $5,000). Currenex classic has a commission of $3 for every 100,000 units or 6 per round-turn lot included to lower underlying spreads (minimum balance is $25,000).
Activate traders doing at least 500 million units per month can enjoy a lower commission of $1 for every lot, bringing down the round-turn cost to $2 per 100,000 units.
There are mainly two types of Hantec Markets Broker platforms, the Currenex platform, and MetaTrader4 platform. The MetaTrader4 is provided for traders who want to access STP, while the Currenex one is a proprietary account that is made for ECD trading. Although the MT4 platform doesn’t make sense, mainly due to the market nature, traders can choose it for the absence of commission and its familiarity.
The Currenex platform is further classified into the Currenex Viking and the Currenex Standard accounts, where the only difference is the size of the minimum order. The Viking starts at 10,000 lots while the Standard starts at 500,000 lots.
Most mainstream markets brokers do not provide promotions, and this is the case with Hantec Market. Promotions aren’t always a great idea, and experienced traders try to avoid them at all costs. Even without promotions or bonuses, Hantec Markets is still a reputable firm.
BRIEFLY ABOUT Hantec Markets
Hantec Market Broker is committed to offering a professional and excellent service. It provides customers with a variety of services and tools to improve their trading adventure and the site is easy to navigate and user-friendly. A quick review of Hantec Markets Customer review and comments will give you a better picture of the firm. The company also provides a reasonable variety of trading platform that provides traders with the ability to choose their preferred model.