We liked the videos; the presenter, Giles Coghan has good insights and an easily understandable accent. On the negative side, we think these videos should feature tags or be organized into categories for better searchability. Thephone supportat HYCM was average-speed, we received relevant answers and customer service representatives were helpful. Changing the leverage is a very useful feature when you want to lower the risk of your trade.
Later on, going with the growth of technology in 2007, Henyep Investment Ltd launched the HY Markets online trading platform. Moreover, HYCM works as a division of Henyep Capital Markets that has an operational history of 30 years in foreign exchange and CFD’s on commodities, metals, indices, and treasuries. In 2015, HYCM got the CySEC regulation that was a milestone for the company to operate its business in Europe. HYCM successfully provides online trading services. It’s a member of the largest financial organization Henyep Capital Markets LLC, which has been operating for about 40 years. Special attention should be paid to the professionalism and impressive experience of the holding, its representation around the world and the availability of a large base of traders.
The compensation of forex clients is also a relatively known feature of forex brokerage firms that are based in the UK. All firms that are allowed to operate in the UK fall under the Financial Services Compensation Scheme . This scheme aims to primarily protect consumers when their brokerage firm declares bankruptcy. Clients of HYCM can expect to get a cover of up to £50,000 in the event that the company goes bankrupt.
These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges. Forex brokers are also velocitytrade review known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.
I was told that in order to receive my money, I have to pay HYC a one time $10k signaling fee. First of all these variety of regulations is needed cause it covers all the distant areas of the globe this way. Regulations apply depending on the country that the customer comes from.
HYCM, previously referred to as HY Markets, is a reliable forex broker that is based in London. Since the forex broker operates in the UK, it is licensed by the Financial Conduct Authority, which is known to be a reliable and reputable regulatory organization. Formed in 1977 as part of the Henyep Group, the forex brokerage firm has been in the game for more than 40 years with 20 of these being under the FCA.
Moreover, since 1 August 2018 The European Securities and Markets Authority has placed investor protection measures on the marketing, distribution, or sale of CFDs to retail clients. This fee is determined by the overnight interest rate. This comes into play when there is a long-opened position and can either be a buy ‘long’ or a sell ‘short’. Withdrawals can be made from the client portal via debit/credit cards, bank wire, Skrill, Neteller, WebMoney, Perfect Money and Bitcoin. Funds can be deposited via debit/credit cards, bank wire, Skrill, Neteller, WebMoney, Perfect Money and Bitcoin.
HYCM Customer Support
But I understood that only in practice will I be able to understand what suits me and what is not. So, I didn’t get upset about it and by choosing the right format of work I recovered everything I had spent quickly enough. Today I work with MT5 – it’s a fast and functional platform, and the number of assets corresponds to my preferences. I use best time to trade eur aud fixed spreads because it increases my speed. For currency pairs, they are about 2 pips – in my opinion, this is quite a narrow figure, so I can not limit the number of orders and the duration of the trading session. HYCM is a well-regulated and trustworthy broker, owned by the Hong Kong-based Henyep Group, which has served traders since 1977.
Does IC Markets give bonus?
Conclusion. IC Markets does not currently offer any bonuses for new traders who register an account, neither do they offer any rewards for loyal customers but despite this, IC Markets has favorable trading conditions that cater to beginner traders and experts.
Experienced traders can choose raw spreads accounts. The only issue – the min deposit here is a bit higher, yet, not that much, just 200 bucks. There is a number of deposit and withdrawal methods that you can use. I’ve withdrawn funds about a dozen of times and each time the money arrived with no delays or further questions from HYCM stuff. Withdrawals take a day or two to complete depending on the method you choose. According to the various HYCM reviews and research available, the broker appears to be a legit one.
HYCM Trading Platforms
In order to provide the utmost protection for its clients’ assets, it keeps their funds in segregated Tier-1 bank accounts. Moreover, HYCM has stated that it doesn’t use the clients’ funds for investment, hedging or other purposes in order to comply with the FCA’s client money protection rules. HYCM does not require much from clients seeking to open trading accounts with the minimum deposit requirement being a meagre $100. Although this is a suitable trading account, it is still high as some FX companies such as XM require only $5 to start trading.
That allows all traders to try trading with company. Most FCA regulated brokers start at $1,000 and HYCM has a clear competitive advantage. Another pleasing addition from HYCM, the fee for deposits and withdrawals – 0$.
This is the rule of main which I comply with during trading activity. HYCM’s customer support is average compared to most other brokers. The market analysis selection at HYCM is limited compared to other similar brokers. Overall, HYCM offers an average range of tradable assets compared to most other brokers, but it excels in its Forex offering. HYCM offers full support for Metatrader 4 and Metatrader 5. We advise that you read HYCM’s risk disclosure, customer agreement, and terms of business before you start trading.
I found this broker after reading numerous reviews on various sites. I found this broker through numerous reviews on thematic websites. I started to have losses here at the beginning, but then I caught up with the theory and everything started to work out. This broker doesn’t offer bonuses and I find it even an advantage because to my mind. They are reportedly can be used in trading but you know they can’t work each time a pullback takes place.
Should you buy your silver bullets on HYCM?
I started with demo account and with 100$ real money by using educational platform knowledges i start to make good trades. As for my words that it’s “universal” I mean that it caters to both scalpers and long-term traders. Here you can scalp with the tightest possible spreads or trade in the long term with wider spreads.
So I’m glad I opened an account with this brokerage. I think that trading should be done seriously, because this case is complicated, in my opinion. And here we are talking about money, which requires attention under all circumstances. And I will certainly recommend all traders, who are at the beginning of their journey, to concentrate at once to the maximum and work a lot from the first day.
So, I believe that such conditions stimulate traders to run successful trading activity. HYCM CFD trading platform is an ideal choice for anyone who prefers a fully regulated platform. With more than 30 years of experience, it offers users to create a diversified portfolio with different types of assets.
Traders can also right-click on a symbol and pull up a tick chart for a particular instrument. 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.
Can I trust HYCM?
HYCM is considered average-risk, with an overall Trust Score of 86 out of 99. HYCM is not publicly traded, does operate a bank, and is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust).
HYCM clients have complete control over their trading accounts from their smartphones through the MetaTrader 4 and MetaTrader 5 mobile applications. MT5 offers traders 21 timeframes and 6 types of pending orders. In addition, its advanced technical analysis options include 38 technical indicators, 44 analytical objects, and unlimited charts. The MetaTrader 4 platform is used for the demo account. Accounts stay active for 14 days, but clients can open as many demo accounts as they wish over an unlimited time period.
Deposit fees and options
Ewallet transfers are the fastest and are processed almost instantly, as soon as the withdrawal requests are put in by the clients. On the other hand, a wire transfer through the most reliable mode of transfer takes the longest time that depends on the underlying security policies of the respective banks. Investors can look into the banking section of the broker’s website for detailed information like deposits and withdrawals, bank officers’ names, etc.
Probably it depends on your trading type first of all. Fixed spreads for EURUSD are 1.8 and I doubt the classic ones can compete with this number. For me it’s much easier to have fixed predefined spreads rather than think about trading costs each time I enter the market. The broker is reliable regarding the withdrawals as well, which is why I can recommend it with a clear conscience. The only thing you have to keep in mind is that the deposit and withdrawal methods are rather limited here in my opinion. Few e-payments systems, CC and bank wire, that’s basically it.
Additional Trading Central features can also be accessed from the client portal as well as the market outlook on major currencies, gold, silver and crude oil. However, this content is only available once a live account has been funded. The broker’s Chief Currency Analyst also holds weekly live webinars every Monday analysing FX markets for the week ahead.
Trading Central is available to clients who register a live account. A third-party tool, Trading Central’s professional analysts use the most advanced technical analysis tools in the industry to curate relevant information. This tool essentially supports traders without the technical know-how in making trading decisions. Trading Central is one of the most popular trading tools available and provides excellent market analysis, and HYCM does well to offer this service to its clients.
TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. TopBrokers.com would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument. Forex broker services are also provided for institutional clients and large companies such as investment banks. Account minimums with HYCM may vary depending on your base currency and the type of account you open. You should have at least $100 to $200 ready before you open an account.
Its various companies are regulated by the FCA in the United Kingdom, CySEC in Europe, and the DFSA in Dubai. HYCM offers trading on more than 300 instruments, including Forex, commodities, stocks, ETFs, indices, and over 21 cryptocurrencies, a broader range than is typically seen at other brokers. This account also has variable spreads, but much tighter than on the first one.
There are always new horizons and here you can always change your decision drastically and see the situation from a new side. And this is what allows me to remain interested in this business for so many years. … I found myself in this company not so long ago, about 7 months ago.
HYCM’s primary trading product is forex currencies, which means that commission works a bit differently than most brokers that trade primarily in stocks and ETFs. Instead of charging a flat-rate fee, forex brokers typically charge a spread between major currency pairs the bid price and the ask price of a currency. Trading conditions are pretty fine there and hycm supports mt4 and mt5 platforms which appeals to me very much. I practiced for a month on a demo account and started real trading a week ago.