Hantec Markets in Nigeria
Are they just another broker?
!! Regulator Warning !!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
I like that they have a physical office in Nigeria and they pay attention to new account holders
Their spread is too high especially on the cent account, how can i be paying 2.2 pips for eurusd
Their customer support is really good, and they hold physical seminars on forex trading in my country. However, they should try and embrace non-document verification to speed up the account opening process
Their prop firm is not reliable, they delayed my payout for no reason.
good customer support especially during account opening. I was able to open my account in no time.
Tight spreads and lightning fast execution. But they need to add more account currencies
I used to trade with hantec when I started forex trading and they are a good trustworthy broker. Now that they have started funding traders with their prop firm, guess I will come back.
I am testing hantec markets and so far I like what I see. The account opening process is quick, theres an online wallet to hold funds you dont want to commit to trading, and their spread is transparent without manipulation. I only noticed their customer support is not very great but I can live with that
Hantec Markets is a regulated broker with $10 minimum deposit and prop trading
| 👨 Broker | Hantec Markets |
| 👨 Accepts Nigerian Traders? | Yes | 📅 Year Founded | 1990 |
| ⚖ Regulators | FCA UK, ASIC Australia, FSC Mauritius |
| 📈 CFDs | FX, Shares, Precious Metals, Energies, Crypto, Indices |
| 🚀Leverage | 1:500 |
| 🔎Auditors | |
| 💻 Platforms | MT4, MT5, Hantec Mobile App |
| 📋Account Types | Cent, Global, PRO |
| 💰 Minimum Deposit | $10 |
| 💰 Minimum Withdrawal | $10 |
| 📞Live Support | 24/7 |
| 🏖️ Inactivity Fee | $0 |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation - 10/10
FCA United Kingdom
Hantec Markets is legit because it is regulated by the Financial Conduct Authority (FCA) United Kingdom.
FSC Mauritius
Hantec Markets activities in Nigeria are regulated by the Financial Services Commission (FSC) in Mauritius with license C114013940
ASIC Australia
Hantec Markets is also regulated by the Australian Securities & Investment Commission (ASIC) and has AFSL number 000326907.
Deposit & Withdrawal - 7.6/10
Hantec Markets Minimum Deposit
Hantec Markets minimum deposit is set at $10 for all its account types.
Deposit Methods
You can fund your trading account using local bank transfer of any Nigerian bank. Hantec also acceots funding via cards, skrill & neteller.
Hantec Markets Minimum Withdrawal
The minimum withdrawal ay Hantec is $10 which is very high compared to what other competion offer.
Hantec Markets Withdrawal Time
Withdrawals by cards & local bank transfer are instant. Skrill & Neteller withdrawal is also instant but bank wire withdrawals can take up to a week.
Hantec Markets Prop Trading
AT Hantec Markets, Nigerian traders can get funded if they pass the Hantec Prop Firm Challenge evaluation program whose fees start from $39.
Account Types - 8/10
1. Cent Account (10 USD)
The Cent Account is a spread-only account for trading smaller sizes and here you can not trade more than 1,000 units (micro lot). The account currency is USD so if you deposit $1 you get 100 cents.
2. Global Account (10 USD)
The Global Account is a Standard Account with spread-only pricing (zero commissions) but here there are no lot size restrictions; you can trade stabdard lots of 100,000 units.
3. Pro Account (10 USD)
The Pro Account requires you pay a commission on every trade and in return you will be charged lower spreads. There is no lot size restriction so you trade standard lots.
Account Management - 8/10
Account Currency
Hantec Markets has Naira account currency but you need to make a request for it. USD, EUR & GBP account currencies are also available.
Number of Trading Accounts Allowed
At Hantec Markets, Nigerian traders can only open a maximum of 3 trading accounts (2 MT5 and 1 MT4).
Online Wallet
This is like an online savings account where your deposits are held. When you want to trade you need to perform an internal transfer from your wallet to your trading account.
Leverage
Leverage is up to 1:500 but you can edit and lower it from your personal area.
Negative Balance Protection
This feature prevents your account balance from falling below zero and going into negative. it ensures you dont owe Hantec any money.
Margin Call & Stop Out
At Hantec, Margin Calls come when your margin level has fallen to 100% while stop out occurs when your margin level falls to 20%.
Hantec Markets Fees - 6/10
1. Spread & Commission
Spreads start from 1.3 pips on the Global Account, and from 2.2 pips on the Cent Account.
On the Pro Account spreads start from 0.5 pips but you also pay commissions of $1 per side per standard lot on every trade.
See below some spreads on popular instruments on their Global Account:
- EUR/USD 1.3 pips
- NAS100 8.0 pips
- XAU/USD 3.7 pips
2. Currency Conversion Fee
A 0.6% currency conversion fee is applied to deposits/withdrawals outside your account currency. The currency conversion fee is also applied when you trade assets that are not domiciled in your account currency.
3. Overnight Fee
Overnight fees are applied when you leave a CFD trade open till the next day and over a weekend.
4. Inactivity Fee
Hantec Markets does not charge inactivity fees but if your account has been dormat for up to 6 months, the funds inide will be moved to your online wallet and the account archived. You may loose the account history when it is archived.
Range of Markets - 8.7/10
Hantec allows you trade CFDs on over 2,650 different symbols.
1. Forex
Over 100+ FX pairs can be traded including the USD/NGN pair which lets you speculate on the naira.
2. Indices
Over 30+ indices can be traded including NAS100 and UK100.
3. Stocks & ETF CFDs
Over 1,000+ CFDs on stocks/ETFS of major companies such as Meta & Amazon can be traded.
4. Metals
Over 30+ CFDS on precious metals such as XAU/USD can be traded.
5. Crypto
Over 70 crypto pairs inclusing bitcoin can be traded.
6. Commodiries
Over 15+ soft and hard commodities including natural gas, crude oil, cocoa, sugar etc. can be traded.
7. Custom CFD Pairs
Hantec has created some custom pairs like Microsoft/Apple, Nvidia/Oracle CFD pairs etc. which you can trade.
Trading Platforms - 7/10
1. MT4 & MT5
Hantec Markets has provided both MT4 & MT5 platforms for you to execute your trades on. MT5 is the newer version of MT4 and is better for trading indices and stocks.
2. Hantec Mobile App
Hantec Markets has also developed their own mobile app and deployed it to online stores for apple and android devices.
if you cannot access your metatrader platform you can use to Hantec mobile app to continue your trading.
3. Hantec Copy Trading App
Copy trading has its own mobile app which you can download from online stores.
Tools - 5/10
1. Economic Calendar
Theres not much on offer in terms of tools except an economic calendar for keeping track of importane teconomic news releases like NFP, CPI, etc.
2. Insight PRO
This is a market analysis tool that gives helps you make sense of the market noise and also shows you market sentiment on what percentage of hantec traders are bullish or bearish on an instrument.
3. Market Holiday Tool
This tool shows you when various countries will be having public holidays that will affect their stock exchanges and major banks.
Copy Trading Tool
You can copy the trades of other experienced traders at Hantec Markets using the copy trading feature.
Customer Support - 5/10
Live Chat
Their live chat is open 24/5 during weekdays and their agents respond in around 30 seconds.
Telephone Help Line
On their website, Hantec Markets displays a telephone number you can call for help but the number is an international number. Hantec Markets also has a local office in lagos Nigeria.
Beginner Education
Hantec Markets has beginner education but it lacks depth.
Final Verdict - 7/10
Hantec Markets is one of our best forex brokers for beginners.