Hantec Markets Review
Like most brokers, Hantec Markets offers its clients a choice of several account types: a Standard one on MT4, Currenax Viking and Currenax Classic accounts.
The Standard account is designed for inexperienced and regular traders and offers STP (Straight Through Processing) market execution on the renown MT4 platform. This account type involves no commission fees and there are micro lots available for trade.
The Currenax Viking account, on the other hand, is suitable for advanced high-volume traders and provides tight spreads on the Currenax trading platform, while the Currenax Classic is tailored mostly at institutional clients.
What is more, Islamic (swap-free) service is available on the MT4 platform. Muslim clients can hold their positions for an undetermined period of time without incurring any interest, however positions held for more than a week will be charged a holding fee of $ 25 per lot per week.
Hantec Markets is a No Dealing Desk (NDD) broker providing online trading services in currency pairs, CFDs and precious metals through two of the most popular trading platforms, MetaTrader 4 and Currenax. Hantec Markets Limited, operating under the brand Hantec Markets, is the UK-based unit of the Hantec Group.
Established back in 1990, Hantec Group provides online trading services with securities, foreign exchange, bullion trading and commodity futures. The mother company Hantec Pacific Ltd. is a multinational finance house based in Hong Kong.
The group also has an Australian subsidiary, Hantec Markets Pty Ltd., which is licensed by ASIC and operates under the tradename Hantec Markets Australia (HMA).
Security of Funds
Hantec Markets is the trading name of Hantec Markets Limited, authorised and regulated by the Financial Conduct Authority (FCA) in the UK.
FCA regulation its famous for its stringent rules and supervision. To acquire a license from the UK financial watchdog, UK-based brokerages have to provide proof of financial stability and to meet various requirements. For example, clients` funds shall be kept in segregated bank accounts, separated from the company operating funds.
Moreover, brokers must hold a minimum of €730 000 net tangible assets in order to prove their financial stability. Similar minimum capital requirements apply in other jurisdictions: Australian brokerages are required to possess at least $ 1 million and US-based ones – $ 20 million.
Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme (FSCS), where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent.
Apart from the costly minimum initial deposit, this broker’s offerings seem quite decent. Scalping and hedging are both allowed, but what makes Hantec Markets really stand out is the zero margin on hedged positions. This is really an advantage, as it allows you to open offsetting positions with equal volumes for the same trading instrument (currency pair, precious metal, etc.), while your margin for these positions remains zero.
Minimum Initial deposit
Minimum initial deposit with Hantec Markets is 1000 USD, EUR or GBP, which is a comparatively high amount, as most brokers require smaller minimum initial deposits. In comparison, Forex.com demands $250, and HY Markets requires $50 from clients in order to start trading.
Average Spreads & Commissions
Hantec Markets offers variable spreads, the average on EUR/USD amounting to just 1.8 pips which is a comparatively high value. The broker, however, charges no commission fees. Tighter spreads, starting from 0.2 pips on EUR/USD are provided on the Currenax ECN accounts, however they involve a negotiable commission, based on the volume traded.
In comparison, Trading212 (also FCA-regulated) provides variable spreads amounting to 0,9 pips on EUR/USD on its commission-free accounts, while FxPro charges $4.5 per lot and offers average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, so its spread, commission included averages around 1.3 pips. You may look up real-time spreads of 15 leading brokers here.
The standard leverage available to Hantec Markets clients is 1:200/1:100, but it can be increased on demand to 1:300 and above for accounts with deposits up to $10,000.
Leverage ratios exceeding 1:200 are deemed relatively high, although many other FCA-regulated brokers offer similar or higher leverage rates. Forex.com offers a maximum leverage ratio of 1:200, FxPro – up to 1:500, and XM – as high as 1:888. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.
Traders, however, should bear in mind that higher leverage involves higher risk, not only the probability of multiplied profits earned on a relatively small deposit. Trading on margin may lead to heavy losses, exceeding initial investments.
The trading platforms you can choose between with Hantec Markets are Metatrader 4 (MT4) and Currenex’s Classic and Viking platforms.
MT4 is globally popular for its innovative, on the go trading capabilities, advanced charting, extensive back-testing environment and automated trade options with Expert Advisor strategies (EA). Not to mention its fast and user-friendly technology, designed to let you trade with ease. Here is a list of more forex brokers offering MT4 platform.
Currenax is a Java-based platform that focuses on connecting buy and sell side forex traders via electronic currency network (ECN). It provides advanced market depth option and automatic execution on live, streaming prime broker bank prices. Currenax features include a graphic rich display of currency rates, fully integrated news and resources, plus transaction history, communication tools, position and account reporting – all available on-screen.
Also, it is worth mentioning that asset managers may benefit from the PAMM accounts on the Currenax platforms and the Multi Account Manager (MAM) System on the MT4.
This broker offers its clients a Refer a Friend scheme, according to which a referrer may get a bonus ranging from $50 to $200, depending on the amount of the initial deposit, with which the referred friend has opened an account.
Methods of Payment
Clients of Hantec Markets can make deposits to and withdrawals from their accounts via bank wire, credit/debit card (Visa, MasterCard, Diners Club, American Express, Maestro, JCB, Airplus, and UATP), and e-wallets, such as Skrill & Neteller. The accepted currencies are: USD, EUR, GBP, CHF, AUD, CAD, and AED.
One of the things we like about this broker is its promise of same-day deposits and withdrawals. It usually takes a few days for these payments to be processed, and receiving your money the same day is definitely a plus.
Being part of an international group, Hantec Markets is a reputable and well-regulated STP/ECN broker, offering reasonable trading conditions, NDD execution, a pool of 16 liquidity providers.
Hantec Markets Review Conclusion
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