Welcome to our HYCM Capital Markets review.
A delicate matter concerning the online FX/CFDs suppliers is the “regulation.” While promoting their items, most of the suppliers appear to ignore taking this issue into account. Not so HYCM since 1977.
Henyep Capital Markets, also known as HYCM Capital Markets, was established in 1977, with headquarters still centered there.
HYCM Capital Markets – Background Information
Its focus is primarily on the regulations, and the dealers do not allow traders from the United States. However, outside this rule, it tends to have a regulatory solution for all.
The dealers have started some subsidiaries globally to attain an excellent regulatory level.
The Henyep Capital Markets (UK) Limited is the central organization of the HYCM group and is regulated by the United Kingdom’s FCA under reg# 186171.
Regulation and Licensing of HYCM Capital Markets
The dealers established HYCM Europe Limited, licensed by the local CySEC with reference# 159/14 in Cyprus, to promote the FX and CFD offer across Europe.
CySEC regulation usually implies that the operation is MiFID compliant and contains pretty well-grounded guarantees and safety for clients.
HYCM has gained one more license from CIMA (Cayman Islands Monetary Authority) for traders that do not require any of the above regulations. It has registration# 1442313.
HYCM DIFC Ltd., licensed by the local FSA (Financial Services Authority), is in Dubai and has license# F000048.
There is a diversity of reviews from consumers regarding HYCM’s services. Most consumers are complainers who denounce the withdrawal matters despite resolving their issues, getting their money, and manipulating others’ minds, as usual.
What Precisely Does HYCM Offer Well-Beyond its Amazing Regulatory Trust?
HYCM has acquired a fair share of industrial honors since it gained 40 years of experience.
It was founded 40 years ago and has been under the regulatory umbrella for over 20 years. Its first UK license was granted to it in 1998.
It is an innovative platform with fair trading conditions and brilliant 24/5 client support. Fixed, Variable, and Raw Spread begin from 1.8, 1.3, and 0.2 pips.
Trade Platforms and Tools
While carrying out platform-wise trade, the dealer returned to the finest tried and tested one, i.e., MetaTrader 4. Undoubtedly, there’s no chance a dealer can go in the wrong direction under the MT4 platform’s umbrella.
The version of HYCM on offer is accessible on desktops and iOS and Android smartphones.
Six asset classes and over a hundred tradable assets are supported by MetaTrader 4. It’s also famous for its charting, technical, and analytical abilities, enabling traders to shape it according to their needs, making and including their technical measures.
Another noticeable feature of HYCM is the Expert Advisors (EAs), programmed traders. These can be employed for automatic trading when linked with custom scripts. These EAs can be created by the trader or bought from third parties and installed.
HYCM Mobile App
The mobile application of MetaTrader 4 is accessible in all its grandeur, too. These allow complete charting along with technical analysis probable on the live charts.
MetaTrader 5 may be the result of the MetaTrader 4 evolution. However, its objective is to achieve distinct goals.
Six distinct asset classes and over three hundred tradable assets are supported by MetaTrader 5.
The MetaTrader 5 that HYCM offers contains an integrated economic calendar and news stream. The purpose is to allow proper fundamental analysis. It encloses 21 timeframes for technical analysis, and at least six pending order types are included.
MetaTrader 5 also supports Expert Advisors, and dealers tend to motivate traders to utilize them.
The three supported account types are accessible on MetaTrader 5 and allow trading 25/5.
For MetaTrader 5, mobile applications are also accessible for Android and IOS.
Besides MetaTrader 4 and MetaTrader 5, HYCM also provides WebTrader. It is the most convenient and uncomplicated method for accessing tradable assets. Only WebTrader gives access to demo accounts.
The dealer allows access to Trading Central.
Asset Categories
Undoubtedly, the FX pairs section is the fairest of the dealer. It consists of scores of exotic, principal, and minor currency pairs for trading and has brilliant trading conditions. Presently, a trade of 69 teams can be made.
Note: Actual trading conditions are dependent upon the kind of account you’re using.
1:10 is the highest available leverage on stocks, and trading ten assets can be done in this.
The indices portion consists of 28 indexes over the world.
In the case of commodities, it supports ten well-known energies, soft Commodities, and precious metals.
Regarding the crypto class, trading of LTC, BTC, XRP, and BAB can be done. It’s necessary to know that HYCM does not buy/sell cryptocurrencies in actuality. The trading of the above assets can be done through CFDs.
HYCM Trading Commissions and Fees
The dealer charges no additional fee on an account other than the commission. The commission is based upon the kind of account.
HYCM supports three kinds of accounts:
- Fixed
- Classic
- Raw
In a Fixed Account, no commission is charged, and the spreads begin from 1.8 pips. Such accounts do not support expert advisors and require a minimum deposit of 100 USD.
Like a fixed account, Classic Accounts charges no commission fee. The spread begins from 1.2 pips and requires a deposit of at least 100 US Dollars.
The Raw Account, being the most costly one, requires a deposit of at least 200 US Dollars and charges a commission of $4 for each round. Its spreads begin from 0.2 pips.
Research and Education
HYCM provides an excellent educational offer in which the dealer offers a Forex education portion. It is organized like an online database and is available with several tutorials, trading gadgets, and a MetaTrader 4 course. Moreover, it also offers a method for beginners, trading techniques, and ebooks.
Webinar operates from Monday to Friday (12:30-1 PM GMT) and behaves as an online classroom. Additional seminars are conducted regularly. Also, the previous webinar’s videos are accessible.
Seminars are comprehensive courses and can last a few days.
Trader Support
The client support of HYCM is accessible via email, phone, and real-time chat. The email is [email protected]. Phone number: +357-25-24-5750.
HYCM Mobile Trading
MetaTrader 4 and MetaTrader 5 are accessible for iOS and Android smartphones and complete charting and technical analysis tools.
To Trade or Not to Trade with HYCM Capital Markets
A successful, experienced, and reliable organization is behind HYCM; hence, the trading conditions and platforms offered are brilliant.
Processing HYCM withdrawals takes up to 24 hours; bank wire withdrawals might require five days.
In the case of education, offerings of HYCM are undoubtedly more challenging to top.
FAQ:
For HYCM, what is the minimum required deposit?
For HYCM, 100 dollars is the minimum required deposit to start trading. After that, it requires a minimum of 20 dollars deposit to top funds using Visa, Master card, or electronic wallet. The minimum deposit for wire transfers is 250 dollars or more.
How do you withdraw money from HYCM?
Though some minimal amount is applied for distinct withdrawal methods, withdrawing money from HYCM is convenient and straightforward. Usually, funds are transferred to the source employed or funding the account through a wire transfer directly into your bank account.
