SimpleFX vs Hankotrade

SimpleFX or Hankotrade – which is better for UK traders 2024? Compare SimpleFX and Hankotrade in this detailed breakdown of their platforms, features and fees.

SimpleFX vs Hankotrade Comparison Table 2024
SimpleFX Hankotrade
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4.2
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2
SimpleFX is ranked #71 among CFD brokers. Hankotrade is ranked #93 among CFD brokers.
Review
Review
SimpleFX is an online broker specializing in CFD and cryptocurrency trading, with multi-currency accounts, STP execution, low pricing and no minimum deposit. Bringing innovation and gaining recognition at numerous industry events since 2014, SimpleFX now caters to retail traders from over 190 countries, boasting a client base exceeding 200,000 active users. Hankotrade is an offshore broker with high leverage, low fees and a welcome bonus.
Pros
  • SimpleFX’s proprietary WebTrader - powered by TradingView - delivers a stable trading environment with a user-friendly interface that’s accessible even to novice traders.
  • With MT4 support, experienced traders can access sophisticated charting tools, advanced technical indicators, customizable algorithms, and expert advisors (EAs) for automated strategies.
  • SimpleFX underwent a revamp in 2021, now sporting a slicker client area with faster load times and a social trading community where you can exchange ideas.
  • With leverage up to 1:1000, traders have the potential to amplify their positions significantly, allowing for greater exposure to market movements and magnified returns (as well as losses).
  • The range of cryptocurrencies available for trading is broad, encompassing well-known selections such as ADA, BTC, and ETH, as well as more specialized options like YFI, YFII, and ZEC.
  • Demo account
  • MT4 integration
  • Low minimum deposit
Cons
  • SimpleFX operates with weak regulatory oversight, allowing it to offer high leverage, but meaning it faces less stringent supervision from authorities compared to brokers like IG which operate in tightly regulated jurisdictions.
  • While the Bloomberg TV news feed and economic calendar are valuable resources, the lack of research tools like Autochartist and Trading Central is a serious disadvantage for traders wanting support in identifying opportunities.
  • The educational tools are okay but not great. The ‘Opinion’ section needs updating more frequently while video tutorials covering market analysis and risk management would be valuable additions for beginners.
  • The availability of only a few non-crypto funding methods is a downside for traders seeking more diverse and convenient options for managing their accounts.
  • No regulatory oversight
  • Few payment methods
  • No copy trading
Awards
  • Best Support 2023, Crypto Expo Europe
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Indices, Stocks, Commodities, Cryptos CFDs, Forex, Indices, Commodities, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FSC
Mobile Apps
iOS, Android + WebTrader iOS & Android
Trading App

SimpleFX provides a proprietary app for both Apple and Android mobile devices. The application boasts a user-friendly design, facilitating easy opening and closing of trades with access to the broker’s 220+ tradable assets. However, occasional unresponsiveness during testing, alongside an average charting package, means it won’t meet the needs of highly active traders.
iOS App Rating
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4.4
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Android App Rating
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3.8
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Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
Yes Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
Yes No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
Yes No
Trade Signals
Yes MetaTrader
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
3% $0
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • EUR
  • CAD
Commodities
  • Copper
  • Palladium
  • Platinum
  • Gold
  • Silver
  • Oil
  • Cocoa
  • Coffee
  • Cotton
  • Corn
  • Natural Gas
  • Soybeans
  • Sugar
  • Wheat
  • Gold
  • Silver
  • Natural Gas
  • Oil
CFD
SimpleFX stands out with highly leveraged trading options up to 1:1000 covering popular asset classes, including stocks, indices, currencies and commodities. Additionally, the social community serves as an excellent resource for gathering CFD strategy tips and short-term trading ideas. Speculate on rising and falling prices using highly leveraged CFDs
Leverage
1:1000 1:500
FTSE Spread
1.3 From 0.0 pips
GBPUSD Spread<
1.2 From 0.0 pips
Oil Spread
0.04 From 0.0 pips
Stocks Spread
Variable NA
Forex
SimpleFX provides a comprehensive selection of around 60 currency pairs, from majors like GBP/USD to exotics like CHF/PLN. Forex trading fees are competitive, averaging 0.9 pips on EUR/USD during testing, while MetaTrader 4, available on desktop, web and mobile, was built specifically for trading currencies online. Trade major and minor currency pairs 24/5
Assets
57 62
GBPUSD Spread
1.2 From 0.0 pips
EURUSD Spread
0.9 From 0.0 pips
EURGBP Spread
1.0 From 0.0 pips
Cryptocurrency
SimpleFX’s strongest offering is its crypto trading environment, with a growing range of tokens, bolstered in 2024, including Bitcoin, Ethereum and Filecoin paired with the USD. Its crypto-based accounts also ensure a smooth trading experience for crypto enthusiasts, while the bespoke staking service allows capital to be utilized for margin trading. Trade leading cryptos against the US Dollar
Spread
45.57 From 0.0 pips
Coins
  • ADA
  • APE
  • ARB
  • AVA
  • BCH
  • BNB
  • DASH
  • DOT
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • INJ
  • LNK
  • LTC
  • MATIC
  • NEO
  • SOL
  • TIA
  • WAVE
  • XTZ
  • YFI
  • ZEC
  • BTC
  • ETH
  • LTC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
SimpleFX Hankotrade
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