HYCM.com Review

Forex Broker Review: HYCM

HYCM REVIEW

HYCM Company Info

◘ Company Name: HYCM is the Trading Name of Henyep Capital Markets (UK) Limited

◘ HYCM Offices: HYCM maintains offices in London, UK, other offices in Hong Kong and the United Arab Emirates

◘ HYCM Regulation: HYCM is regulated by FCA UK (186171) and MiFID

◘ HYCM Foundation: HYCM was founded in 1978

◘ Online since HYCM went online in 1999

◘ US Clients: HYCM doesn't accept US Clients (NO)

◘ Islamic Accounts: HYCM supports Islamic Accounts (YES)

◘ HYCM Execution: STP Broker

HYCM Trading Info

◘ HYCM Trading Zone: GMT

◘ HYCM Typical Spread: 1.8 pip (EUR/USD). The minimum EURUSD spread is 0.5 pips and it is available via Pro Accounts.

◘ HYCM Leverage: HYCM maximum leverage is 30:1

◘ HYCM lot: Micro Account Type (0.02)

◘ HYCM Scalping: (NO)

◘ HYCM Hedging: (YES)

◘ Automated Trading: (YES)

◘ HYCM Min. Account: Minimum account at HYCM is 50 USD

◘ HYCM Account Currencies: HYCM provide accounts in US Dollars

◘ HYCM Deposit Methods: Bank transfer, Credit/debit cards, Skrill, Neteller, and WebMoney

HYCM Forex Accounts

HYCM Accounts Comparison

◘ HYCM Platforms: HYCM offers MeaTrader4 Install, MetaTrader4 Web, Web Trader, Currenex

◘ HYCM Languages: English | 简体中文 | 繁體中文 | العربية | Русский

◘ Live Support Languages: English, Arabic, and Chinese

HYCM Pros and Cons

HYCM Final Conclusion

HYCM is an STP Forex Broker based in London UK. The company behind HYCM was founded in 1978 and maintains also offices in the United Arab Emirates and Hong Kong. The broker is regulated by FCA UK and the European MiFID while it offers also segregated bank accounts to all clients. Overall it seems that the safety of trading funds is a great advantage when trading with HYCM as it combines many years in the market, high regulation, and segregated bank accounts. HYCM specializes in Forex offering many trading options for Forex traders. As concerns desktop platforms, it offers MT4, WebTrader, and Currenex and as it concerns mobile trading it offers apps for Android and iPhone. The asset index includes 30+ Forex currencies, Precious Metals, and several other financial assets via CFD contracts. Automated Trading and Hedging are allowed by HYCM but scalping is not available. The minimum account for Micro Accounts is 50 USD and several fund methods are supported such as Credit/Debit cards, PayPal, Skrill (Moneybookers), WebMoney, and of course Wire transfer. Note that all withdrawals less than $300 are free of charge but for larger withdrawals, there is a fee of $25. Also, inactive accounts may be charged some fees too. The customer service is 24/5 and includes live chat, phone, and email. We tested their live chat service and the response was fast and good. The spreads offered by most HYCM account types can be considered as average (EURUSD at 1.8 pip) but traders opening Pro Accounts may enjoy better spreads as the EURUSD spread is starting at 0.5 pips. No trading commissions are charged except for the Pro account type.

HYCM offers Welcome Deposit Bonus policy 10% for any amount. In overall we consider HYCM a good and reliable choice for the average Forex Trader and for all Pro Traders except intraday traders and scalpers.

Forex Broker Review: HYCM

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