FX Trading Master

United States
Generic selectors
Exact matches only
Search in title
Search in content

HYCM Review and Tutorial 2021

» Visit

Facts & Figures

Trade on the financial markets with low cost, leveraged products at HYCM.

Awards

• Best Forex Broker 2019 – Global Brands Magazine
• Best Forex Broker Middle East 2018 – World Finance Forex Awards
• Best Mobile Trading Platform 2017 – World Finance Forex Awards
• Best Broker Northern Europe 2015 – FX Report Awards
• Best Global Broker 2012 – Mena Forex Awards
• Best FX Mini Account Provider 2012 – World Finance Foreign Exchange Awards

Bonus 10% deposit bonus up to $5,000
Instruments Forex, CFDs, Commodities, Shares, Indices
Demo Account Yes
Min. Deposit $100
Pay Methods MoneyGram, Neteller, Skrill, Visa, Webmoney, Wire Transfer
Min. Trade 0.01 lots
Regulated By FCA, DFSA, CIMA, CySEC
MetaTrader 4 Yes
MetaTrader 5 Yes
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading No
Copy Trading Yes
Trade Signals No
Islamic Account Yes
CFD
FTSE Spread Not offered
GBPUSD Spread From 0.8
Oil Spread From 3.0
Stocks Spread Variable
Leverage 1:30 EU, 1:500
Forex

Trade on the FX market with flexible leverage and dynamic market spreads.

GBPUSD Spread From 0.8
EURUSD Spread From 0.2
EURGBP Spread From 1.2
Assets 69
Risk Warning – Your capital is at risk

HYCM is a global forex and CFD intermediary with industry-driving stage reconciliation. Our audit covers the fundamentals of exchanging with HYCM, including the login cycle, least store necessities, spreads, and their store reward offering.

HYCM Headlines

The HYCM brand is essential for the Henyep Capital Markets possessions bunch and has UK, Hong Kong, Dubai, and Cyprus office areas. The accompanying organizations work under the HYCM name: 

  • Henyep Capital Markets (UK) Limited, managed by the Financial Conduct Authority (FCA) 
  • HYCM (Europe) Ltd, approved by the Cyprus Securities and Exchange Commission (CySEC) 
  • Henyep Capital Markets (DIFC) Limited, approved by the Dubai Financial Services Authority (DFSA) 
  • HYCM Ltd, managed under the Cayman Islands Monetary Authority (CIMA) 

The organization offers its assistance to dealers in more than 140 nations, including Malaysia, Singapore, India, Indonesia, Kuwait, and Australia. This specialist doesn’t acknowledge customers from the USA or Canada. The authority site is accessible in 14 dialects, including Farsi.

Trading Platform Review

Planned merchants should finish enrollment on the HYCM site to get login accreditations, then, at that point, sign in on the customer entryway to get to the monetary business sectors.

MetaTrader 4

All branches offer MetaTrader 4 (MT4), an industry-driving stage reasonable for financial backers of all experience levels. MT4 is accessible as a product download and has an expansiveness of valuable highlights: 

  • A single tick exchanging straightforwardly from the diagram 
  • Intelligent outlines with 30 specialized markers and nine-time periods 
  • Three execution modes, two market request types, and four forthcoming orders 
  • Following, everything being equal, and open positions accessible in the terminal interface 

HYCM has worked together with Trading Central to give monetary examination on the MT4 stage. Customers can introduce the Trading Central pointers to screen market developments and educate their execution technique.

MetaTrader 5

Customers can likewise select to utilize MetaTrader 5 (MT5), an update to the MT4 stage with the incredibly specialized investigation and extra usefulness: 

  • Two request account modes 
  • Three diagram types to suit your inclination 
  • Six kinds of forthcoming orders and 21-time spans 
  • More than 80 specialized pointers and graphical articles 

Clients can likewise refine their execution procedures in MT4 and MT5 utilizing Expert Advisors (EAs). This innovation permits 24/5 computerized exchanging without outsider scaffolds and is not difficult to introduce. 

Customers should take note that scalping isn’t allowed with this agent.

WebTrader

Both MT4 and MT5 are accessible on WebTrader. This program-based arrangement permits customers to exchange on the stage without a product download and is viable with all working frameworks.

Markets

HYCM offers several asset classes for trading:

  • Forex – almost 70 currency pairs
  • Stocks – 10 major companies
  • Indices – 28 global indices
  • Commodities – 17 including gold and oi

Potential HYCM customers ought to know that some cash sets are just accessible on the MT5 stage and that the NASDAQ file isn’t given as of now. Digital currencies are likewise not advertised.

Fees & Charges

Spreads shift with account type and are extensively cutthroat. For instance, individually, EURUSD is offered at 1.8, 1.4, and 0.2 pips on Fixed, Classic and Raw records. Crude records have a $4 commission for each round on forex exchanges and a few items. Our intermediary audit was satisfied to see that expenses are following the business. 

Trade-free/Islamic records are not charged interest for the time being for the initial 14 days a position is open. From there on, each agreement is charged at $5 each night. HYCM additionally charges a $10 month-to-month idleness expense on accounts that have been lethargic for 90 days.

Leverage

Customers can get to various influence proportions relying upon the guideline in their purview:

HYCM Ltd

  • Forex majors and minors – 1:500 dynamic
  • Forex exotics, indices (US cash and futures), metals – 1:100
  • Indices (others cash), indices (EU, JK, HK futures), commodities (soft) – 1:50
  • Indices (India and China futures) – 1:33
  • Commodities (Natgas) – 1:67
  • Commodities (oil), stocks (US) – 1:20
  • Stocks (France, Germany, Spain) – 1:10

Henyep Capital Markets (UK) Ltd and HYCM (Europe) Ltd

  • Forex majors – 1:30
  • Forex minors and exotics, metals, indices (US cash and futures) – 1:20
  • Indices (others cash and futures), commodities (Natgas, soft and oil) – 1:10
  • Stocks – 1:5

For Henyep Capital Markets (DIFC) Limited clients, an edge of 5-20% is required relying upon the resource.

Mobile Apps

HYCM doesn’t offer an own-image application, yet both MT4 and MT5 are accessible as portable applications. These completely highlighted applications for iPhone and Android are allowed to download and have valuable ascribes: 

  • Intelligent statement outlines 
  • The whole arrangement of exchanging orders 
  • Following of request history 
  • Talk capacity and message pop-ups

Deposits & Withdrawals

Brokers can start contributing with a base store of $100, and installments are sans charge. The merchant acknowledges stores using bank wire (1-7 days handling, least $250), in addition to Visa, WebMoney, Neteller, and Skrill (as long as 1-hour preparing, at least $20). This representative doesn’t acknowledge PayPal. 

The withdrawal interaction offers similar installment courses and preparing times, aside from bank wire, at least $300 with 1-5 days handling time. Note there is a 1% charge from Skrill or Neteller while pulling out more than $5,000.

Demo Account

HYCM offers a demo account supported with $50,000 in virtual money, which stays dynamic for 14 days. The record utilizes the MT4 stage and can be opened in USD or EUR monetary standards. It’s not difficult to move up to a real cash account after 14 days.

HYCM Bonuses

HYCM Limited customers partake in a 10% credit reward on each store for more than $100, up to $5,000. The merchant can’t offer gladly received or store different plans in different purviews because of administrative prerequisites.

Regulation Review

The brand has solid guidelines from four monetary specialists: the Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA); the Cayman Islands Monetary Authority (CIMA); and the Cyprus Securities and Exchange Commission (CySEC). Customers with this intermediary appreciate adverse equilibrium insurance, so misfortunes can’t be more prominent than the first store. 

Surveys and evaluations of HYCM are, for the most part, sure, and the specialist is frequently likened to enormous representatives like IG, FXCM, FXTM, Pepperstone, and eToro in online correlations.

Additional Features

The specialist conveys a market news area on their site, including a specialized day-by-day preview, in addition to a financial schedule and forex mini-computers. HYCM likewise has a broad training division with forex instruction, online courses and workshops. 

Moreover, the business has collaborated with Seasonax to bring customers an insightful occasional example investigation administration to the table customers. With an intuitive dashboard, the apparatus utilizes incredible calculations to check the business sectors and distinguish exchanging openings across FX, stocks, records and products. For clients tight on schedule, the element can help dealers discover market openings and settle on more educated exchanging choices.

HYCM Accounts

Merchants can open one of three record types with either MT4 or MT5: 

  • Fixed – fixed spreads from 1.8 pips, $100 least store 
  • Classic  – variable spreads from 1.2 pips, $100 least store 
  • Raw – spreads from 0.2 pips in addition to $4 commission every way, $200 least store 

EAs and an Islamic alternative are accessible with all record types, and the base exchange volume is 0.01. HYCM doesn’t right now offer an ECN account arrangement.

Pros

Exchanging with HYCM has a few advantages: 

  • Duplicate exchanging 
  • MT4 and MT5 combination 
  • Seasonal design examination 
  • Great client assessments on the web 
  • The abundance of instructive assets 
  • Guideline from various monetary bodies 
  • Direct venture the executives 
  • Charge-free installments with quick withdrawal preparing

Cons

  • No cryptocurrency trading
  • Monthly inactivity fee

Trading Hours

The HYCM site is accessible to customers every minute of every day, except exchanging hours rely upon the market. For instance, most forex sets can be exchanged from 22:01 – 20:00 (GMT), Sunday to Friday.

Customer Support

Clients can access support quickly through the website, live chat or through:

  • Contact number – +442088167812
  • Telegram – @henyep

Support staff are quick to respond to queries and knowledgeable about the products and platforms offered. The broker is also active on Facebook and LinkedIn.

Security

HYCM has an intensive protection strategy set up which defends any close-to-home data uncovered to the organization. The MT4 and MT5 stages are secure with encryption conventions and different security conventions at the login stage.

HYCM Verdict

HYCM is a forex and CFD representative with a multi-body guideline that offers MT4 and MT5 combination close by cutthroat spreads and a store reward plot. This intermediary has account types to suit a scope of customers and clear stores and withdrawals for simple exchanging.

Accepted Countries

HYCM acknowledges merchants from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different nations. 

Merchants can not utilize HYCM from Afghanistan, Belgium, Japan, United States, Hong Kong.

Alternatives to HYCM

If you are searching for options in contrast to HYCM, we have aggregated a rundown of the best 5 specialists that are like HYCM underneath. This rundown of representatives like HYCM is arranged by likeness and incorporates organizations that acknowledge dealers from your area. 

  1. OctaFX – OctaFX offers multi-resource exchanging on a scope of stages and versatile arrangements. 
  2. RoboForex – RoboForex is a multi-resource online dealer offering incredible exchanging assistants. 
  3. FP Markets – FP Markets is a multi-resource merchant offering a decision of exchanging stages. 
  4. FBS – FBS is a top online dealer offering MT4 and MT5 exchanging across a scope of instruments. 
  5. ThinkMarkets – ThinkMarkets is multi-managed forex and CFD merchant

FAQ

Is HYCM a legitimate broker?

HYCM is a decent specialist and a certifiable firm, not a trick. This intermediary draws in sure online surveys and customers can get to client care 24/5 for any issues.

Is HYCM regulated?

The HYCM brand consolidates four organizations managed by four distinct monetary specialists. These specialists are the UK Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA); the Cayman Islands Monetary Authority (CIMA); and the Cyprus Securities and Exchange Commission (CySEC).

What platforms are available at HYCM?

HYCM has MetaTrader 4 and MetaTrader 5 combination. These stages are accessible to download, as program-based arrangements or as versatile applications.

Does HYCM offer a demo account?

HYCM offers a demo account on the MT4 stage that is subsidized with $50,000 in virtual money. Customers can open a record with USD or EUR monetary standards and can start to contribute whenever.

What is the minimum deposit at HYCM?

The base store is $100. However, dealers can get to more tight spreads with a store of $200. You can open a record from the dealer’s landing page.

en_USEnglish