HYCM (formerly HYMarkets) can be rightfully considered as one of the leaders among forex brokers and at the moment share more than 40 years of experience in the market. The broker is a member of the Henyep Group, the international financial holding company established in 1977 and headquartered in London, UK operating in the financial services, education and real estate.
HYCM specializes in providing trading services and offers wide range, over 100 different financial instruments with access to trade forex, metals such as gold and silver, energy products like oil and gas, commodities, indices and stocks. The firm is a strictly regulated broker and has many offices in major cities around the world: London, Limassol (Cyprus), Hong Kong and Dubai and complies with regulatory agencies in each jurisdiction.
In fact, HYCM trademark is much respected brand among traders and investors in the financial industry, which is confirmed by several recently gained international awards:
- Best Forex Broker Europe | 2017 by FXDailyInfo
- Best Forex Broker Dubai | 2017 by Global Brands Magazine
- Best Mobile Trading Platform | 2017 by World Finance
- Best Forex Broker UAE | 2017 by Global Banking and Finance Review awards
Licenses, Regulations & Security of funds:
It is crucial to consider regulations when choosing a forex broker, hereby clients can be assured that their broker act with transparency and professionalism. In HYCM case, apart from a solid track record from parent company as one of the leading financial services providers in the industry, the group of companies HYCM regulated and authorized by various necessary licenses.
- Henyep Capital Markets, headquartered in London, is regulated by the FCA (license No 186171) – the Financial Supervision Authority of England, which guarantees to its customers the appropriate legal security, provides convenient conditions for cooperation.
- HYCM (Europe) Ltd. – the company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 259/14.
Furthermore, the MiFID authorizes HYCM to offer its products and services across the European Union. Along with these oversight institutions, HYCM has SFC (Hong Kong) licenses and the DFSA (Dubai).
All customer deposits of the company are segregated, stored separately from the company’s funds and not available for personal or business use by HYCM. In addition, all company clients are participants of the FSCS compensation program. Thus, in case that the company, by virtue of certain circumstances, is unable to provide further financial services, customers may receive compensation.
Trading Accounts & Conditions:
There are three primary account types at HYCM to suit the needs of any individual, defined as Micro Account, a Standard Account and a VIP Account. HYCM uses a fixed spread model, means commissions are not charged on trades, spreads usually vary based on the type of account. Generally speaking, fixed spreads worth considering for those that prefer to rely on stability even during volatile news.
Therewith, Islamic trading accounts are available for traders who wish to trade the markets based on Islamic principles.
- For beginner traders who want to test the company, HYCM offers – Mini account. The trader can comfortably start up with minimal risk and minimum deposit requirements – requires deposit of $ 100
- For classical trade lovers, the company offers – Standard account – requires a deposit of $ 1000
- If you have sufficient experience, knowledge and skills for trading in large funds, then consider opening a VIP account. This type of account offers similar terms for trading to other accounts. To open a Premium account, you need 10 thousand dollars – requires a deposit of $ 10,000.
Mini, Standard and VIP trading accounts provided with a wide range of assets, in particular: currency pairs, metals, CFDs for indices, commodities, stocks, energy. Spreads starting from 1.5 pips. The maximum available leverage is 1:200.
As a leading financial services provider, HYCM providing their traders with advanced trading platforms. HYCM gave its preference and reliability to the popular MetaTrader 4 platform and has made it the mainstay. HYCM has also made a Mobile Application, for the traders who prefer to trade on the go, which allows to trade at anytime and anywhere. HYCM Mobile is available for mobile devices Apple and Android.
MetaTrader 4, which is an industry leading software, loved for many reasons, but mainly for its ease of use and comprehensive features. MT4 is also suitable for beginner traders. HYCM’s platform including security and 24-hour support, automated trading capable, integrated technical analysis tools and indicators, streaming market news, personal VIP dealer services, expert advisors and many more.
Deposits and Withdrawals:
There are a plenty of ways to consolidate trading account, as well to withdraw funds from the account. HYCM’s clients can use regular bank cards Visa/MasterCard, Wire Bank Transfers and various electronic system WebMoney, UnionPay, Neteller, Skrill.
Advantages and Bonuses:
- Allowed Trade with advisors
- HYCM offers a welcome bonus to new clients, a deposit bonus of 25% up to $ 5000.
- Customer support in multiple languages is available 24/5 via phone, live chat and email.
- Range of Partnerships – advantage of comprehensive partnership opportunities for affiliates and IBs (Refer-a-friend; Media affiliates; Introducing brokers; White label partners)
Henyep Capital Markets and HYCM do not offer Contracts for Difference to residents United States of America and some other regions.
After all, HYCM company has a strong and very reliable reputation in the financial market, time timed broker, offering professional services to the traders while highly regulated. Nevertheless, small retail traders can find their way to open a live trading account with them, very small deposit of only $100 allows so. Beginners are most welcome to the company too, 24/5 customer support team stands ready to help.
However, there are some downsides with HYCM too – Demo accounts are not available, uncompetitive spreads.