Alert: Alleged Price Manipulation on HankoTrade Platform

Introduction

In a concerning turn of events, allegations of price manipulation have emerged against the online brokerage firm HankoTrade. The suspicions arose following a promotional event that promised exceptionally high leverage to its traders, leading to widespread scrutiny by market professionals. This press release aims to inform and warn the trading public about these practices and to urge caution when selecting a brokerage platform.

Issue Occurred

The initial allure of HankoTrades Spooky Hollowen Trading Promo, which offered a staggering 1000X leverage on deposits exceeding 2,000 USD, captured the attention of many seasoned traders. However, the excitement was short-lived as discrepancies in price movements on the HankoTrade MetaTrader platform compared to those on TradingView became apparent, sparking suspicions of potential manipulation.

Evidence of these inconsistencies was brought to light on social media, with multiple traders voicing their concerns and posting comparative images of the price charts from both platforms. Significant differences were noted, which could potentially indicate manipulative practices by HankoTrade.

Comment #1

Comment #2

A concerned professional trader, who chose to remain anonymous, took to Facebook to highlight these discrepancies, further enforcing the gravity of the situation. Their comparison showed stark variations in price charts from TradingView and HankoTrade‘s MetaTrader platform, raising red flags about the broker’s operations.

TradingView

MetaTrader

HankoTrade's Overview

HankoTrade operates from the Business Bay in Dubai, offering various account types including STP, ECN, ECN Plus, and an Islamic Account. It provides a range of trading instruments and utilizes the popular MetaTrader 4 and MetaTrader 5 platforms. Despite this, the firms regulatory status remains ambiguous.

STP

ECN

ECN Plus

Islamic Account

HankoTrade's Regulatory Status

While HankoTrade does not disclose any regulatory oversight on its website, investigations reveal that it is registered in Saint Vincent and the Grenadines—a jurisdiction known for its association with unregulated brokers.

Adding to the concern, Saint Vincent and the Grenadines declared that online trading and brokerage activities, including FOREX and Binary options, are not permitted within its borders, casting further doubt on the legitimacy of HankoTrades operations.

The Reason

The enticing Hollowen Trading promotion drew in numerous traders despite the lack of regulatory assurances. This event has sounded the alarm for the public to exercise extreme caution and avoid investing with unregulated entities, irrespective of the attractiveness of their offerings. The significant deposit required for the promotion hints at an underlying strategy that could place investor funds at risk.

Conclusion

This situation serves as a stark reminder of the perils associated with unregulated brokers. Traders are urged to conduct due diligence and to remain vigilant against offers that seem too good to be true. If you encounter any suspicious broker practices, do not hesitate to reach out to WikiFX Support with evidence, or through the contact information provided below. Protect your investments by staying informed and cautious.

Note to Editors

The information in this release is based on the latest available data and has been prepared to inform the public. We encourage readers to conduct their own research and to report any irregularities they may encounter in the trading sphere.