Hantec Markets Review
Hantec Markets offers professional traders a very solid forex trading package, along with all the advantages and disadvantages that the MT4 and Currenex platforms come with. The great thing is that you get access to a real ECN and can trade to something very similar to the interbank market (although not in the interbank market itself). You can see the liquidity and pending orders, you can use complex order types such as if/then and one-cancels-other (OCO), and make use of many other professional level features available on Currenex. The downside of Currenex, and the main obstacle to many traders, is the entry price - only $25,000+ accounts are welcome. This is understandable, and fair, considering that minimum deal sizes on Currenex are standard lots of 100,000 units - smaller accounts would need to be dangerously over-leveraged.
For those mere mortals who just want a $1,000 account or simply can't afford anything bigger, MT4 offers plenty of advantages, but nothing mind-blowing. On MT4 you can expect average execution and average spreads, but unfortunately none of the professional level tools you get with Currenex. The number of tradable instruments is also somewhat limited, which may or may not be a concern to you - if you mostly trade the majors, go ahead and open an account, you'll be taken care of, but your mind will definitely not be blown. If you want to trade exotic pairs, then go to another broker.
Hantec Markets is based in Hong Kong, but is regulated in both the UK (FSA) and Australia (ASIC).
NOTE: US traders are welcome to trade if they are ECPs.
Subjective Ratings
| Charting: |  |
 This is our subjective view on how good the package is in this broker platform. For brokers offering multiple trading platforms, we rate the best one. |
| Execution: |  |
From our experience trading a real account, this is how we rate this broker's order execution. Brokers with guaranteed fills get a boost in rating. |
| User-friendliness: | |
How user-friendly is the trading platform? For brokers offering multiple trading platforms, we rate best one. |
| Customer support: |  |
How good a company's client support manage questions and problems is a very important aspect of their overall performance as a business. For this rating we consider the hours of operation, the different modes of contact (such as call back service, live chat, toll-free numbers etc.) as well as the staff's patience, eagerness to help, and most importantly, knowledge. |
| Transaction costs (spreads): | |
Since different brokers offer different currency pairs with different spreads, variable or fixed, commission or commission-free trading etc., the idea of judging transactions costs overall becomes somewhat subjective. This is where we try to capture the broker's overall willingness to keep your trading costs low. |
| Rollover interest rates: | |
Again, since each broker has their own way to calculate overnight interest rate, or swap for each currency, it is not feasible to have an objective, quantitative way to judge their swap rates. The issue is further complicated because some brokers decide to offer swap-free accounts, some with extra fees added, some not, some for Islamic traders only, and some for the general public. This rating attempts to roll all of that into one. |
| Withdrawal processing: | |
One of the often-overlooked aspects of a brokers business is how quickly, efficiently, and inexpensively they process your withdrawals. For this rating we take into account the time it took us to get our withdrawals processed, the fees that were charged for those withdrawals (if any), any problems we encountered during the process, as well as the number of withdrawal methods available (such as PayPal, Moneybookers, etc.) |
| Platform Functionality: | |
Different platforms have very different levels of complexity. In general, more complex trading platforms give the user more flexibility in their trading, but involve a longer learning curve for new users to get accustomed to their idiosyncrasies. This rating measures the ability of the trading platform to complete complex tasks, most importantly in order management and reporting. For brokers offering multiple platforms, we rate the best one. |
| Platform Reliability: |  |
One of the most annoying (and costly) complaints traders have about their brokers is that the trading platform crashes at the most crucial times. This rating attempts to get a handle on how the trading platform performs in terms of stability and reliability. Is the platform always available? Does it crash or freeze? How often? For brokers offering multiple platforms, we rate the best one. |
| Average rating: | |
The arithmetic mean of all the above ratings, rounded to the nearest half-star. |
Business Details
| Broker Headquarters: | London, UK | The geographical location of the broker's headquarters. |
|||||
| Regulated By: | FSA (502635) and ASIC (ABN 54 129 943 086) | Which regulating body, if any, is responsible for regulating this broker? |
|||||
| Client Account Segregation: | Yes | Some brokers choose on their own and others are required by regulators to keep client funds separate from the company's operating capital. This gives clients an extra layer of security in case the broker becomes insolvent and needs to go into bankruptcy. It should be noted that segregation does NOT constitute absolute safety of client funds in case of bankruptcy, but is a significant step nonetheless. |
|||||
| Collect Taxes on Earnings: | No | Does this broker report client earnings to any tax authorities? If so, which ones? |
|||||
| Accept US traders?: |  |
Some brokers, either due to government regulation, or due to their own risk management policies, choose to prohibit clients from the United States. |
|||||
| Main liquidity providers: | Unknown | Most brokers are somewhat secretive about this aspect of their business, but those who aren't certainly provide their clients with a valuable piece of information. The more liquidity that is available, the better order execution clients can expect. Knowing the institutions which provide this liquidity can also offer a glimpse into which currency pairs have sufficiently deep liquidity for your needs. |
|||||
| Also has offices in: | Hong Kong, Tokyo, Sydney, Auckland | A list of other places, besides the headquarters, where the broker has offices. |
|||||
| Registered Business Name: | Hantec Markets Limited | The name of the parent company of the broker, if any, or the business name under which the broker operates. |
|||||
| In business since year: | 1990 | When was the business established? This is a measure of trustworthiness. If a business has been around for a long time, it is less likely to scam you or disappear overnight. |
|||||
| Deposit/Withdrawal methods: | What methods are available to deposit and withdraw money to and from your trading account? |
||||||
|
|||||||
Trading Conditions
* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.
| << FXPro Review | AFB FX Review >> |
