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HYCM review, and platform

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HYCM 40 year heritage in the financial markets has positioned them.  As one of the most trusted and transparent brokers in the Forex industry. Serving both institutional and retail clients across the globe. And that Why we have to talk and recommend them for you

Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Fixed $100 0.01 1:200 1.8 pips, fixed
Classic $100 0.01 1:200 from 1.2 pips
Raw $200 0.01 1:200 from 0.2 pips + $4 /lot

 

This broker offers three the above account types. They all offer competitive spreads, leverage up to 1:200, and the opportunity to trade in micro lots.

 

Besides, clients of HYCM who don’t want to earn interest for religious reasons may opt forIslamic accounts, which are swap-free.

 

The Company

 

Company Country  Regulation
Henyep Capital Markets (UK) Limited UK FCA
HYCM (Europe) Ltd. Cyprus CySEC
Henyep Securities Limited Hong Kong SFC

 

HYCM (formerly HY Markets) is a large forex broker offering trading more than 100 financial instruments: wide range of currency pairs, various CFDs on indices, commodities, stocks and precious metals, available on MT4 and its proprietary web platform.  The company also offers binaries trading service through its HY Options brand.

 

HYCM is part of the Henyep Group, a global conglomerate with various business activities spanning 3 continents and 20 countries world-wide.

 

Set up 35 years ago, the Henyep Group is a global conglomerate with various business activities spanning 3 continents and 20 countries world-wide. It operates out of its offices in London, Dubai, Hong Kong, Kuwait and Cyprus.

Trading Platforms

As a leading financial services provider, HYCM is able to provide their traders with cutting edge trading platforms. Here at HYCM, traders have 3 main types of trading platforms to choose from. The mainstay of HYCM’s trading platform is their proprietary platform called the Prime Trader. In addition to cater to traders who want to trade on a more familiar platform, HYCM has also made available the popular MetaTrader 4 platform. And for traders who prefer to trade on the go, HYCM has also saw it fit to provide this group of traders with the HYCM Mobile trader.

Prime Trader

  • Ability to trade Multi Assets
  • Account Management System
  • Advanced Charts
  • Feature Guaranteed Stop/Loss
  • Multiple Price Views

MT 4

  • Advanced Trading Tools
  • Automated Trading Capable
  • Comprehensive Charting Package
  • Customizable
  • Industry Standard Platform

HYCM Mobile Trader

  • Account Management capable
  • Available for iOS and Android devices
  • Fully Mobile Capable

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EDUCATIONAL RESOURCES AND BANKING OPTIONS OFFERED BY HYCM

HYCM take educational resources seriously and offer a suite of ebooks and video tutorials on their easy to use website to assist beginner traders in taking their first steps into the financial markets. The comprehensive information given offers insights into all aspects of trading including market psychology, capital management and charting techniques. Even experienced traders can find information that may be of interest to them with articles covering advanced analysis. It couldn’t be easier for novices to access all of the essential guidance to gain a foothold in trading or for professionals to hone their skills and maximise their profits.

Payment method

HYCM offer a great choice of methods by which traders can place funds into their trading account. As well as traditional methods such as wire transfer, Visa and MasterCard, it is also possible to use UnionPay and WebMoney to deposit funds. Although bank transfers can take up to 5 days to appear in the trading account, all other methods are instantly processed for immediate trading. Numerous currencies are accepted including US Dollars and Euros as well as KWD, AED, RMB, SAR. Account funds can be withdrawn using the same method as the deposit and will be processed in under 5 days in the case of bank transfers, or under 7 days via credit card, WebMoney or UnionPay. No fees are charged on any withdrawal methods except wire transfer, which may incur a charge of $30 if the total sum withdrawn is under $300.

Our advice

If you are looking for a reputable and trustworthy broker with whom to begin trading and invest your funds. HYCM is a good choice. As they are fully licensed and regulated.

We recommend them because investors are guaranteed security of their financial and personal details. Also the choice of user friendly trading platforms makes HYCM a sensible selection. For both newcomers and experienced traders alike. A good range of customer service contact methods make HYCM accessible whenever assistance is required and their selection of banking methods make it easy to deposit and withdraw funds.

Conclusion

Despite being one of the more established brokers around, HYCM has not forgotten the small time retail traders. This is evident from the fact that they make it easy for anyone to open a live trading account with them with just a small initial deposit of $100. In addition, their website is easy to navigate around. In the event assistance is needed, their 24/5 customer support team stands ready to render help to those who needs it.

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