HYCM.com Review

 Forex Broker Review: HYCM

HYMarkets

HYCM REVIEW

 

 HYCM Company Info

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

HYCM Offices: HYCM maintain 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 found 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 Customer Support:

HYMarkets 24/5 Customer ServiceHYMarkets PHONE SUPPORTHYMarkets LIVE CHAT

» Visit HYCM

HYMarkets Mobile

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:

HYMarkets Bank WireHYMarkets Credit CardsHYMarkets Offer DEBIT CARDSHYMarkets Offer MoneyBookersHYMarkets Offer Web MoneyHYMARKETS Offers PAYPAL

HYCM Withdrawal Methods:

HYMarkets Bank WireHYMarkets Credit CardsHYMarkets Offer DEBIT CARDSHYMarkets Offer MoneyBookersHYMarkets Offer Web MoneyHYMARKETS Offers PAYPAL


HYCM Forex Accounts

HYCM Accounts Comparison

  Mini Standard Premium HY Pro
Minimum Deposit $50 $750 $2,500 $5,000
Trading Platforms Webtrader, MT4, MT4 Webtrader Webtrader, MT4, MT4 Webtrader Webtrader, MT4, MT4 Webtrader CurreneX
Mobile Platforms iPhone / Android Devices iPhone / Android Devices iPhone / Android Devices iPhone / Android Devices
Minimum Spread starting at 1.8 starting at 1.8 starting at 1.8 starting at 0.5
Trading Commissions No No No Yes
Financial Instruments

30+ Forex Pairs 
Precious Metals
Energy and Commodities

30+ Forex Pairs 
Precious Metals
Energy and Commodities
30+ Forex Pairs 
Precious Metals
Energy and Commodities
30+ Forex Pairs 
Precious Metals
Energy and Commodities
Minimum Trade Size 0.02 0.10 1.00 0.10
Telephone Trading Yes Yes Yes Yes
Expert Advisors Yes Yes Yes Yes
  » Start an Account From Here 

HYCM Platforms

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

HYCM Mobile Trading: HYCM offers an app for iPhone, Android

HYMarkets iPhone AppHYMarkets ANDROID

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

◘ Live Support Languages: English, Arabic, and Chinese

HYCM Pros and Cons

HYMarkets PROS

HYCM PROS

HYMarkets CONS

HYCM CONS

√ Many Trading Options in every trading aspect X The Spreads could be a little bit tighter for Intraday Traders
√ 30+ Forex assets, precious metals, and CFD trading
X No Scalping 
√ High regulation and segregated bank accounts X Some commissions on withdrawals and on inactive accounts 
√ Founded in 1978  
√ Automated trading and hedging are available
 
√ Minimum deposit as low as $50 
 
√ Many fund methods, including PayPal  
√ Trading from Charts & 1-Click-Trading (MT4)  

 

HYCM Final Conclusion 

HYCM is an STP Forex Broker based in London UK. The company behind HYCM is found 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 is specialized 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 50USD 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.

» Visit HYCMs Web

 

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