What Happened?
Hankotrade, a relatively lesser-known forex and CFD broker, has recently come under scrutiny for allegedly attempting to conceal a troubling past and suppress negative reviews and news. Despite presenting itself as a legitimate broker offering competitive spreads and advanced trading tools, Hankotrade has faced numerous complaints from traders. Issues range from account manipulation, withdrawal delays, and poor customer service to suspicions of unfair trading practices.
Multiple reviews on platforms like Myfxbook indicate that dissatisfied clients have faced difficulties in receiving payouts and report a lack of transparency in trading conditions. In addition, there are allegations of questionable business practices tied to the broker’s offshore registration, which many believe offers fewer regulatory safeguards for traders.
Hankotrade has reportedly tried to downplay or censor these damaging reviews, with some users claiming that their negative feedback was removed or suppressed. Such actions have raised concerns about the broker’s true intentions, as efforts to limit the spread of unfavorable information often point to larger, unresolved issues within the company. For traders considering Hankotrade, these red flags suggest a need for caution and thorough research before engaging with the platform.
Analyzing the Fake Copyright Notice(s)
Our team collects and analyses fraudulent copyright takedown requests, legal complaints, and other efforts to remove critical information from the internet. Through our investigative reporting, we examine the prevalence and operation of an organized censorship industry, predominantly funded by criminal entities, oligarchs, and disreputable businesses or individuals. Our findings allow internet users to gain insight into these censorship schemes’ sources, methods, and underlying objectives.
List of Fake Copyright Notices for Hankotrade
| Number of Fake DMCA Notice(s) | 1 |
| Lumen Database Notice(s) | https://lumendatabase.org/notices/43911622 |
| Sender(s) | NovaFusion Technologies |
| Date(s) | Aug 18, 2024 |
| Fake Link(s) Used by Scammers | https://hankotrade.com/ |
| Original Link(s) Targeted | https://www.myfxbook.com/reviews/brokers/hankotrade/1930486,1 |
Evidence and Screenshots
How do we investigate fake DMCA notices?
To accomplish this, we utilize the OSINT Tool provided by FakeDMCA.com and the Lumen API for Researchers, courtesy of the Lumen Database.
FakeDMCA.com is the work of an independent team of research students and cybersecurity professionals, developed under Project UnCensor. Their OSINT Tool, designed to uncover and analyze takedown notices, represents a significant step forward in combating these abusive practices. It has become a valuable resource, increasingly relied upon by journalists and law enforcement agencies across the United States.
Lumen, on the other hand, is an independent research initiative dedicated to studying takedown notices and other legal demands related to online content removal. The project, which operates under the Berkman Klein Center for Internet & Society at Harvard University, plays a crucial role in tracking and understanding the broader implications of such requests.
What was Hankotrade trying to hide?
Hankotrade is a forex and CFD broker that offers trading services to both retail and institutional clients. Based in an offshore jurisdiction, Hankotrade operates with limited oversight, which is often a point of concern for traders. The broker advertises competitive spreads, high leverage, and a user-friendly trading platform to attract new traders, particularly those looking for a cost-effective entry into forex trading. However, its offshore registration and lack of a well-recognized regulatory license have raised doubts about the broker’s reliability and security for its clients.
Despite its marketing efforts, Hankotrade has faced significant criticism from traders and industry watchdogs. These complaints point to a range of issues that raise red flags about the broker’s trustworthiness. Here’s a breakdown of the adverse news, bad reviews, complaints, and allegations that Hankotrade seems to be attempting to keep under wraps:
1. Withdrawal Issues and Delays
One of the most frequently reported complaints against Hankotrade involves difficulties with withdrawing funds. Several traders have expressed frustration with the broker’s long processing times for withdrawals or outright refusals to process payouts. This has caused significant concern among clients, as prompt withdrawals are a critical aspect of a broker’s trustworthiness. Traders have reported that, in some cases, their accounts were closed after attempting to withdraw profits, with little or no explanation from Hankotrade.
These withdrawal delays have fueled suspicions about the company’s financial stability and liquidity, raising the possibility that the broker may not have sufficient reserves to cover client payouts, particularly during times of market volatility.
2. Account Manipulation Allegations
A number of traders have accused Hankotrade of manipulating their trading accounts, particularly during high volatility periods. These allegations include reports of slippage, where the price at which a trade is executed significantly differs from the intended price, often resulting in losses for the trader. While slippage can occur naturally in fast-moving markets, multiple complaints suggest that Hankotrade may be deliberately altering prices or execution speeds to disadvantage retail clients.
This kind of account manipulation is a serious issue, as it calls into question the fairness and integrity of the broker’s trading environment. Traders who suspect they are being manipulated are often left without much recourse due to Hankotrade’s offshore status and the lack of strong regulatory oversight.
3. Poor Customer Support
Numerous reviews on platforms like Myfxbook describe Hankotrade’s customer support as unresponsive or lacking in professionalism. Traders report long wait times for responses, poor communication from support staff, and the failure to resolve serious issues related to accounts and withdrawals. This lack of support becomes especially problematic when traders encounter technical issues or suspect wrongdoing by the broker. The inability to get timely help only compounds the frustration experienced by Hankotrade’s clients.
Many have expressed dissatisfaction with how the company handles disputes, often leaving traders without any resolution or explanation.
4. Offshore Regulation and Lack of Transparency
Hankotrade’s offshore registration is another key point of concern for traders. Operating in a jurisdiction with minimal regulatory oversight means the broker is not held to the same standards as brokers regulated by well-known authorities such as the FCA, CySEC, or ASIC. Offshore brokers often operate in legal gray areas, offering limited protections for their clients. For traders, this means that if a dispute arises, there may be little recourse or protection.
This lack of strong regulation has led to concerns about Hankotrade’s transparency in financial operations and how client funds are handled. The absence of clear, enforceable rules often makes it easier for offshore brokers to engage in unethical practices, such as manipulating accounts or making it difficult for clients to withdraw their funds.
5. Censorship of Negative Reviews and Feedback
In addition to these operational complaints, there are allegations that Hankotrade is actively attempting to censor negative reviews and feedback. Some users on review platforms like Myfxbook have claimed that their unfavorable reviews were either removed or suppressed. There are reports that the broker may have contacted review sites or platforms in an effort to limit the visibility of damaging content.
By trying to suppress negative feedback, Hankotrade appears to be more focused on protecting its public image than addressing the legitimate concerns of its clients. This approach not only raises questions about the company’s ethical standards but also undermines potential traders’ ability to make informed decisions based on the experiences of others.
Hankotrade’s efforts to downplay and suppress negative reviews, coupled with a growing number of complaints about its business practices, suggest that the broker may be hiding more than it wants the public to know. The major issues involving withdrawal delays, allegations of account manipulation, poor customer service, and offshore regulation raise serious concerns about the broker’s credibility and operational integrity.
While Hankotrade markets itself as a competitive broker with attractive trading conditions, the complaints and adverse reviews tell a different story. Traders are advised to exercise caution when considering Hankotrade as their broker, particularly due to its offshore status and lack of transparency. Before opening an account, it is essential to thoroughly research independent, uncensored reviews to understand the risks involved in dealing with a broker like Hankotrade.
Only Hankotrade benefits from this crime.
Since the fake copyright takedown notices were designed to remove negative content for Hankotrade from Google, we assume Hankotrade or someone associated with Hankotrade is behind this scam. It is often a fly-by-night Online Reputation agency working on behalf of Hankotrade. In this case, Hankotrade, at best, will be an “accomplice” or an “accessory” to the crime. The specific laws may vary depending on the jurisdiction. Still, the legal principle generally holds that if you actively participate in planning, encouraging, or facilitating a crime, you can be charged with it, even if you did not personally commit it.
How do we counteract this malpractice?
Once we ascertain the involvement of Hankotrade (or actors working on behalf of Hankotrade), we will inform Hankotrade of our findings via Electronic Mail.
Our preliminary assessment suggests that Hankotrade may have engaged a third-party reputation management agency or expert, which, either independently or under direct authorization from Hankotrade, initiated efforts to remove adverse online content, including potentially fraudulent DMCA takedown requests. We will extend an opportunity to Hankotrade to provide details regarding their communications with the agency or expert, as well as the identification of the individual(s) responsible for executing these false DMCA notices.
Failure to respond in a timely manner will necessitate a reassessment of our initial assumptions. In such an event, we will be compelled to take appropriate legal action to rectify the unlawful conduct and take the following steps –
- Inform Google about the fraud committed against them.
- Inform the victims of the fake DMCA about their websites.
- Inform relevant law enforcement agencies
- File counter-notices on Google to reinstate the ‘removed’ content
- Publish copies of the ‘removed’ content on our network of 50+ websites
By investigating the fake DMCA takedown attempts, we hope to shed light on the reputation management industry, revealing how Hankotrade and companies like it may use spurious copyright claims and fake legal notices to remove and obscure articles linking them to allegations of fraud, tax avoidance, corruption, and drug trafficking…
Since Hankotrade made such efforts to hide something online, it seems fit to ensure that this article and our original review of Hankotrade, including but not limited to user contributions, remain a permanent record for anyone interested in Hankotrade.
A case perfect for the Streisand effect…
Potential Consequences for Hankotrade
Under Florida Statute 831.01, the crime of Forgery is committed when a person falsifies, alters, counterfeits, or forges a document that carries “legal efficacy” with the intent to injure or defraud another person or entity.
Forging a document is considered a white-collar crime. It involves altering, changing, or modifying a document to deceive another person. It can also include passing along copies of documents that are known to be false. In many states in the US, falsifying a document is a crime punishable as a felony.
Additionally, under most laws, “fraud on the court” is where “a party has sentiently set in motion some unconscionable scheme calculated to interfere with the judicial system’s ability impartially to adjudicate a matter by improperly influencing the trier of fact or unfairly hampering the presentation of the opposing party’s claim or defense.” Cox v. Burke, 706 So. 2d 43, 46 (Fla. 5th DCA 1998) (quoting Aoude v. Mobil Oil Corp., 892 F.2d 1115, 1118 (1st Cir. 1989)).
Is Hankotrade Committing a Cyber Crime?
Yes, it seems so. Hankotrade used multiple approaches to remove unwanted material from review sites and Google’s search results. Thanks to protections allowing freedom of speech in the United States, there are very few legal ways to do this. Hankotrade could not eliminate negative reviews or search results that linked to them without a valid claim of defamation, copyright infringement, or some other clear breach of the law.
Faced with these limitations, some companies like Hankotrade have gone to extreme lengths to fraudulently claim copyright ownership over a negative review in the hopes of taking it down.
Fake DMCA notices have targeted articles highlighting the criminal activity of prominent people to hide their illegal behavior. These people, which include US, Russian, and Khazakstani politicians as well as members from elite circles including the mafia and those with massive financial power, are all connected – and alleged corruption ranging from child abuse to sexual harassment is exposed when exploring evidence found at these URLs. It appears there’s a disturbing level of influence being exerted here that needs further investigation before justice can be served. Hankotrade is certainly keeping interesting company here….
