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HYCM Review : Forex Broker Reviews & Ratings

I also had a chance to talk to the customer support and I found it very effective. All of my questions were answered and I got all the necessary information. However, I think that the trading conditions could be better but probably it is the right price for such a good service.

Bear in mind that you can also open additional accounts later. So for example, you can have a MetaTrader 4 account both in USD and EUR. You can make transfers between accounts opened in the same currency. I've been trading with HYCM for over a year now, and I have not any problems with their company to this date.

To get started, go to the Apple App Store and download the Metaquotes MetaTrader 4 app for nothing. The financial markets are available to HYCM customers immediately, and they have the option to manage their portfolios entirely from their mobile devices. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading financial instruments online comes with risk.

hycm broker review

HYCM is one of the few brokers that offers cryptocurrency CFDs to traders interested in cryptocurrencies such as Bitcoin. Raw spreads start from 0.2 pips with an additional 4 USD per round. The HYCM minimum deposit required to create a Raw Spread account is a little higher as compared to the other two account types, it is 200 USD. The minimum trade volume is however the same as in the other 2 accounts, that is 0.01. When it comes to choosing the most reliable online broker, what counts most is the total years of experience that the platform has served in terms of services rendered and its regulation. As per the broker review, it ranks among the top-rated online platforms having experience of more than 40 years; it was established in 1977.

This is very important for me, because I’m so calm about my money. Very convenient registration, even from a mobile phone. A good site that is not overloaded with information. Excellent order execution speed; during the entire trading period, there were no particular problems. Of course with other respectable brokers, you never face those type of issues ( especially when it is very obvious it’s intentional and timely).. I liked the trading software and what this company promises so I stayed here and am now a HYCM broker trader.

Fixed Spreads

The Economic Calendar is one of the most helpful features available on the MetaTrader5 platform. It helps users to keep a close track of events that impact the financial market. Like the entire MT5 platform, the Economic Calendar is also compatible with automated trading applications like EAs and Trading Central. Moreover, the advanced technical analysis options consist of unlimited charts, and a total of 38 technical indicators, and 44 analytical objects. The Classic spread trading accounts offer variable spreads to traders whose minimum value is around 1.2 pips. To create a Classic account, the HYCM minimum deposit required is 100 USD and the minimum trade volume should be 0.01.

hycm broker review

HYCM focuses on the essentials to remain operational but maintains a sub-standard core trading environment. As a regulated entity in these jurisdictions, HYCM is authorised to deal in CFDs, Rights to Interests in Investments, Rolling Spot Forex and Contracts for professional and retail customers. Headquartered in Hong Kong, the Henyep Group operates a diversified portfolio of businesses across Asia, Europe and the Middle East.

I mean that you will not have withdrawal and execution issues here. It’s a regulated broker started as a financial company more than 40 years ago. What’s more, it’s considered one of the first Forex brokers. This broker can’t attract you with bonuses and ultra-low deposits if you are used to receiving such offers. That’s one of the oldest Forex brokers in the world with a more than 40-year experience.

HYCM Review 2023

Our team of industry experts at Compare Forex Brokers has also investigated the regulatory status and subsequently if it’s safe to trade with HYCM. You can withdraw money from HYCM to debit cards, credit cards, bank transfers, Payoneer, Paypal, and WebMoney, for example. You will be able to fill in your personal information, select an account type, and set your password, among other things, on this page.

  • With over 40 years of history, it has managed to enjoy a reputation as a safe and secure broker.
  • Transactions are processed fairly quickly, usually taking no more than one business day to complete.
  • I have personally lost money on this app so beware of this scam.

Overall, the fixed account is comparable to the standard micro account. HYCM is not an ECN broker, but a market maker, which matches client orders internally without the need to connect to a liquidity provider. Thus, it operates a Dealing Desk model and as such, it may take the other side of its clients’ trades. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.

Traders can also right-click on any part of the Market Watch panel to get a list of useful data points such as high-low prices, depth of market, and tick chart. If you click on the chart window choice, then a new chart will appear along with the four charts that populate the window upon opening it. It has a built-in ticket feature that allows traders hycm review to click on the price and instantly send an order to buy or sell. After download and installation, traders agree to some standard disclosures and access the MT4 icon on their desktop. Logging in to the HYCM Metatrader 4 platform for the first time is simple and straightforward. The overview page directs you to the download link and the setup window.

HYCM Islamic Account

The charitable work from the Henyep Capital Markets Group is highly commendable and helps to emphasise strong business ethics. I would confidently use them for trading CFDs on the MetaTrader platforms. I really appreciate to trade with this brokerage service because it has exceeded my expectations in terms of reliability. By the way, when I was making a decision to join this company, I didn’t know enough about this broker. I just followed several recommendations from my friends. They just told me that it’s an old but reliable broker and that’s all.

Fine, but what attracts me more is their trading conditions. I can trade fast and cheaply here without losing too much money on spreads. I also pay attention to customer support, guess that it also plays big role in any service experience. All traders from time ot time face various issues, which can be solved only by customer support. There is no doubt HYCM is a very safe broker to work with.

When you are trading on high leverage, you are able to lose more money than you have on your account. This can be quite dangerous for traders, especially for those who are just getting https://forexbroker-listing.com/ started. Keep in mind, however, that it’s the company that is 40+ years old, not the exchange itself. The online trading platform under the name of HYCM only operates since 2007.

HYCM Mobile Trading

These brokers frequently have more in-depth technical techniques and analysis tools and superior risk management capabilities. AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees. HYCM is a broker that appeals to many types of traders.

Trading Forex, CFD, Binary Options, and other financial instruments carry a high risk of loss and are not suitable for all investors. 66-84% of retail investor accounts lose money when trading CFDs with the providers presented on this site. The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations. HYCM provides access to the widely used MT4/MT5 forex trading platform. While on the go, HYCM also offers mobile applications for Android and iOS devices and desktop platforms, making it more straightforward to keep track of and execute transactions.

The mobile application can be downloaded from Apple Store or Google Play Store. With the mobile trading app, a user can open, close, and manage his trading position on the go by exercising complete control over his account from his mobile phone. The MT4 mobile app also allows users to execute trade transactions, monitor their account status, and track their trade history. Moreover, the app allows users to access various quote charts, top analytical tools, and trade orders. Push notifications are also available on the mt5 mobile app and users can also chat with other fellow users on the trading platform. Apart from regular webinars and educational guides, HYCM offers different types of videos through its YouTube channel.

HYCM was awarded an above-average mark in the Education category. The broker has multiple webinars, seminars, and educational videos that provide a highly informative and well-balanced study of the basics of trading. It lacks, however, written articles and a trading course on its website. The broker’s YouTube channel has another specialized playlist consisting of over 360 videos on the impact of market seasonality.

The HYCM brokerage firm has a solid and trustworthy reputation in the current global economy. The timely broker provides professional services to traders while being strictly regulated and respected by them. In some cases, depending on the type of brokerage account you choose, you may be required to make a minimum deposit as high as 6500 GBP or USD. Some brokers are willing to go as high as 10,000 GBP/USD on some exchanges.

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