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Hanson Review - is it scam or safe?

Hanson Review - is hsb.co.id scam or good forex broker?

RATING: 2.1 / 0 REVIEWS Hanson
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Hanson is an Indonesian broker, regulated by the local financial authorities, which offers a selection of forex pairs and other CFDs on a web based platform and leverage of up to 1:200. The broker takes a trading commission depending on the account type and that is the reason we find spreads somewhat higher. You may check our review for more details about Hanson trading conditions.

 

Trading account  Min. deposit Max. leverage Spread
Bronze Account $100 1:200 1,7 pips + commission

Silver Account

$300 1:200 1,7 pips + commission
Gold Account $1000 1:200 1,7 pips + commission

 

Hanson Advantages:

 

An Indonesian license

 

Although the regulatory requirements of the local Indonesian Commodities and Futures Trading Regulatory Authority (Badan Pengawas Perdagangan Berjangka Komoditi or BAPPEBTI in short) are not that strict as the ones imposed by well known institutions such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC), an  Indonesian license has definitely more weight than an offshore “license” from let say Vanuatu.

 

And that is the reason we credit Hanson as a regulated broker. The company behind it - Hanson Semesta Berjangka is registered with BAPPEBTI. 

 

And besides, brokers regulated in Indonesia can only obtain liquidity and trading lines via local and registered market makers and that is also reassuring.

 

Still, if you reside in Indonesia and want to trade, you can always chose a broker licensed in the UK or another European country, because that way you will have the additional protection of a client compensation fund, which in the case of a FCA broker will cover up to 85 000 GBP of your funds, even in the unlikely event your broker files for bankruptcy. So here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Leverage as high as 1:200

 

Since the European Securities and Markets Authority caped the maximum leverage allowed for retail clients at 1:30 in August last year, following similar moves by the authorities in the U.S., Canada and Japan, currently traders may enjoy higher leverage only with offshore brokers, (which we do not recommend fore security reasons) and brokers regulated in jurisdictions like Indonesia and Australia. And because most Australian brokers have better reputation, than the ones from a country like Indonesia, here you may also check our list of brokers licensed and authorized by ASIC:

 

>>Brokers regulated in Australia<<

 

Acceptable minimum deposit requirement

 

With Hanson you can start trading with as little as 100 USD and that is great, as most brokers usually require a minimum investment of about 250 USD. Still, bear in mind that with some big well known brokers like FBS and IG, you will can start trading with virtually 5 USD or even less.

 

Hanson Disadvantages:

 

High spreads

 

As tested with a demo account the benchmark EURUSD spread on the Hanson web based trading platform floated about 1,7 pips – 1,8 pips, but when we opened a demo position we were charged a trading commission of 30 USD per lot, which when calculated into the the equation gives an actual spread as high as 4,7 pips – more than 3 times higher than what traders would usually consider attractive with a standard account. 

 

It is it true that with their premium account Hanson promises commission of just 1 USD per lot, which basically adds 0,1 pips to the actual spread, and yet with a premium account, we would have expected spread well below 1 pip and not starting from 1,8 pips. In any case here you may also check our list of brokers, offering tighter spreads as well:

 

>> Lowest spread forex brokers<<

 

Few forex pairs

 

Hanson is offering just 18 forex pairs with major currencies like AUD, NZD, JPY, USD, EUR, CHF, GBP, CAD. And apart from that the only other instruments available were CFDs on gold, silver, oil and 5 indices - Nikkei,  Hangseng (HK50),  SP500, Dow Jones and TECH100. So, as we do not see any crypto assets in the list, here you may also check our brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Few payment methods

 

This is another disadvantage with Hanson – the only payment option you have is to fund your deposit through a local bank, including BCA, Mandiri and BNI. And your deposit should be in Indonesian Rupees, although for settling transactions Hanson uses USD.

 

So here we miss a number of payment options like major credit or debit cards like VISA and MasterCard, popular e-wallets like Neteller and Skrill and even bitcoins. Here for example you may check our list of brokers, where you can pay with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTrader4 not supported

 

Hanson offers its clients a web based trading platform, which lacks many functionalities common with classic trading solutions like the MetaTrader4.

 

 

With a MT4 for example you can easily run algorithmic trading sessions with the help of customizabel trading robots, called Expert Advisors. And there are also numerous market indicators and and versatile charting tools, so here you may check as well our list of brokers, supporting MetaTrader4: 

 

>>MT4 Brokers<<

 

Conclusion:

 

Hanson is a legit broker, licensed in Indonesia, which offers attractive leverage and basically all most popular assets you can think of. On the negative side are the higher spreads and the requirement to pay through local Indonesian banks. In case you do not reside in Indonesia, that might prove quite inconvenient. 

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Traders` reviews for Hanson

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