General Information
Hantec Markets is a reputable forex broker that was established in 1990 and is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. They offer a variety of trading platforms, including MT4 and MT5, along with TradingCentral for market analysis. Traders have access to a wide range of tradable assets, including forex, CFDs, indices, commodities, stocks, and bullion. Hantec Markets provides different account types, including demo account, cent account, and standard account, catering to traders of various levels. They offer customer support through live chat and telephone, and provide educational resources such as market reports, analysis videos, and podcasts. The minimum deposit required is $10, and the maximum leverage offered is 1:1000. Hantec Markets supports multiple payment methods for deposits and withdrawals
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Is Hantec Markets legit or a scam？
Yes, Hantec Markets is a legitimate and regulated forex broker that operates under the oversight of reputable financial regulatory bodies. Hantec Markets adheres to strict regulatory standards to ensure financial stability, security, transparency, and fair trading practices.
Hantec Markets is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The company is authorized and supervised by the FCA, with registration number 502635. The FCA is a renowned financial regulatory body known for its stringent regulations and supervision of financial firms.
Pros and Cons
Market instruments
Currency pairs, indices, commodities, metals, energies, cryptocurrencies, stocks... Hantec Markets gives its clients access to a massive trading market. So, both beginners and sophisticated traders could find what they want to trade on Hantec Markets.
It is worth noting that, in the trading instruments screen, Hantec Markets provides a detailed table showing spreads, SWAPs, trading hours and other conditions of various instruments in detail, which greatly facilitates clients' consultation and comparison.
Below is a comparison table of trading instruments offered by different brokers:
Spreads and Commissions
As mentioned before, in Hantec Markets spreads are clearly displayed in tables. For example, the AUDCAD spread is 1.8 pips. However, we have not been able to find detailed information on commissions.
How to Open an Account？
Visit the Hantec Markets website. Look for the “Open account” button on the homepage and click on it.
2. Select an account type and submit your details via our registration form.
3. Upload your documents and await approval.
4. Fund your wallet and transfer to your trading account.
5. Start trading
Spreads and Commissions
Hantec Markets offers Forex trading with spreads starting from specified values for various currency pairs. There are no commissions charged for Forex trades. The spread type is floating, and the minimum order size is 0.01 lot. The trading conditions also include a stop-out level set at 40% of the used margin. Overall, Hantec Markets provides competitive spreads and transparent commission-free trading for Forex.
Trade major pairs like EUR/USD, GBP/USD, and USD/JPY:
EUR/USD spread: 0.00014898 pips.
GBP/USD spread: 0.000213589 pips.
USD/JPY spread: 0.022286942 pips.
Hantec Markets offers precious metals trading with competitive spreads and floating spread types. Traders can trade gold (XAU) with a minimum margin requirement of 5% and silver (XAG) with a minimum margin requirement of 10%. The minimum order size for gold is 0.1 lot (10 ounces) and for silver is 0.1 lot (500 ounces). There are no commissions charged for trading these metals, and the trading hours are available according to the server time.
Hantec Markets offers CFD trading on a variety of symbols, including stocks. The spreads for stock CFDs start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for stock CFD trading.
Hantec Markets offers indices trading on various major indices in Europe, Asia, Australia, and the US. The spreads for indices trading start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for indices trading.
In terms of Commodity Trading conditions at Hantec Markets, both US Oil and UK Oil have a spread of 0.05. There are no specific details provided regarding commissions for commodity trading.
Hantec Markets offers cryptocurrency trading with competitive spreads on a range of popular cryptocurrencies.
Non-Trading Fees
Currency Conversion Fee:
A conversion fee may be applicable to trades based on the currency settings of your trading account, funding currency, and the settlement currency of the market being traded.
The conversion fee is set at 0.6% and is added to the settlement exchange rate, which is determined by the market rate at the time of settlement. To account for the conversion fee, the underlying exchange rate is multiplied by 1.006 during the conversion process.
For instance, if the GBP/USD exchange rate is 1.1, the applicable FX conversion rate would be 1.1 x 1.006 = 1.1066.
By default, CFD accounts are set to 'instant' conversion. This means that any realized profit, loss, funding, dividend adjustments, or commission will be automatically converted to your account's base currency.
Let's consider an example:
Suppose you have purchased £20 per point worth of FTSE (UK100), and the base currency of your trading account is USD. Since you are trading in GBP, which is different from your account's base currency, the related transactions need to be converted to USD.
Assuming the exchange rate is 0.7576 ($1 equals £0.7576), after incorporating the conversion fee of 0.6%, the conversion rate becomes 0.7576 x 1.006 = 0.7621.
If FTSE increases by 30 points, your profit would amount to £600. This profit will be reflected as £600/0.7621 = $787.30 in your account. To calculate the admin fee charged, multiply your profit by 0.6%:
$787.30 profit x 0.6% = £4.72 currency conversion fee (already included – not charged separately)
Overnight funding
Also known as the 'Swap' charge, this is the cost of holding a position overnight. The amount will be dependent on the size of your trade, whether you have a long or short position and the instrument you are trading. Swap rates are determined by the underlying interest rates of the products or currency pairs you have open positions in.
Account Types for Hantec Markets
Demo account: Hantec Markets offers a demo account for you to test a little on the financial market without the risk of losing money.
Real account: there are 2 types of real accounts in total: cent account and standard account. The initial deposit to open an account is respectively $10 and $100, which is quite friendly for beginners. Other differences are market access, spreads, demo account and copy trading.
Trading Platforms
Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.
Leverage Offered
Hantec Markets offers a maximum leverage of up to 1:1000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
The broker provides a variety of payment options for transactions in USD, EUR, GBP, or NGN. Clients can choose from the following payment methods: Bank Wire (Bank Transfer/SWIFT), VISA, MasterCard, Neteller, Skrill, and UnionPay.
Deposits:
Hantec Markets offers a competitive minimum deposit requirement of just $10, which makes it an appealing choice for beginners looking to start trading with a smaller initial investment.
When it comes to withdrawals, there is a minimum payment threshold of $100. Hantec Markets aims to process withdrawal requests made before 15:00 GMT on the same day. However, please note that it may take between two to seven business days for the funds to be credited to your account, depending on various factors such as the payment method and bank processing times.
For European clients, deposits and withdrawals are free of charge. However, international clients may incur charges for large withdrawals made through e-wallets. It's also important to be aware that some banks may have their own processing fees for handling withdrawals.
Overall, Hantec Markets strives to provide convenient and transparent deposit and withdrawal processes for its clients, ensuring that funds can be efficiently managed according to individual needs and preferences.
Users exposures on WikiFX
On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Hantec Markets prides itself on providing excellent customer service to its clients. Each client is assigned a dedicated relationship manager who serves as their primary point of contact for any queries or issues. The relationship manager can be reached conveniently through the live chat tool available on the website.
The customer support team is also available 24/5 and can be contacted by leaving a message in the “contact us” section of the website.
Alternatively, you can reach out to them through the live chat feature, which is located at the lower right corner of the broker's website. Additionally, you have the option to contact customer support via telephone using the following numbers:
China – 4000280332
Nigeria – 7080601265
Jordan – 18442000155
Thailand – 1800019263
Taiwan – 886801491458
Pakistan – 080090044349
Main Office (UK) – +41225510215
Please note that international numbers may incur toll fees.
Office Locations:
Hantec Markets' main headquarters is situated at 5-6 Newbury St, Barbican, London EC1A 7HU in the United Kingdom. For the addresses of their Dubai, India, or other offices, please refer to the Hantec Markets website.
Educational Resources and Community Support
Hantec Markets offers a wide range of educational resources on its website to support traders in their learning journey. These resources include market reports, analysis videos, YouTube webinars featuring Nigerian and African traders, as well as podcasts. Moreover, there is a dedicated learning hub that provides valuable content across four experience tiers, along with lessons on strategy creation and risk management.
Hantec Markets strives to empower its clients with the knowledge and tools they need to make informed trading decisions, fostering a supportive community of traders along the way.
User Experience and Additional Features
Another interesting aspect to point out from this broker is the client portal, in which customers can manage accounts and payments with ease. The portal houses various functions to help customers get the account overview, manage multiple accounts, view trades (ongoing and closed) with ease, receive market insights from Richard Perry's Daily Market Report, deposits, and withdrawals, as well as easy access from mobile platforms.
Educational resources
A number of educational resources are available at Hantec Markets. We have market analysis, economic calendar, glossary and many important knowledge. We cannot deny their importance, but the best teacher for you to learn Forex trading is always real trading. It is impossible to make progress relying only on tools.
Conclusion
Hantec Markets is a well-established forex broker founded in 1990, regulated by the FCA in the UK. They offer a wide range of tradable assets, including forex, CFDs, indices, commodities, stocks, and cryptocurrencies. With competitive spreads, transparent commission-free trading, and access to popular trading platforms like MT4 and MT5. Traders can benefit from various trading platforms and a diverse selection of tradable assets. However, some aspects, such as limited information about certain commissions and the availability of Hantec Social platform, could be improved. Traders should carefully assess their trading requirements and preferences, as well as consider the associated risks and costs, before choosing Garnet Trade as their trading platform.
FAQs
Q: Is Hantec Markets a legitimate broker？
A: Yes, Hantec Markets is a legitimate and regulated forex broker. They are authorized and supervised by the Financial Conduct Authority (FCA) in the United Kingdom.
Q: What account types do Hantec Markets offer？
A: Hantec Markets offers three types of accounts: demo account, cent account, and standard account. The minimum deposit to open an account is $10.
Q: What trading platforms are available on Hantec Markets？
A: Hantec Markets offers the popular trading platforms MT4 and MT5, as well as TradingCentral for market analysis and insights.
Q: What is the maximum leverage offered by Hantec Markets？
A: Hantec Markets offers maximum leverage of 1:1000 for international clients using the Cent Account and 1:500 for international clients using the Standard Account. However, for European clients, leverage is limited by ESMA regulations to 1:30 for major FX pairs, 1:20 for minors and exotics, gold, and stock indices, and 1:10 for oil and silver.
Q: What deposit and withdrawal methods are supported by Hantec Markets？
A: Hantec Markets supports various deposit and withdrawal methods, including Bank Wire, VISA, MasterCard, Neteller, Skrill, and UnionPay.
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