HYCM Forex Review

» Check the HYCM Rating at FxPros.net

HYCM GENERAL INFORMATION

■ Found: HYCM was found in 1999

■ Headquarters: HYCM Markets Inc. headquarters are in London, UK

■ US Residents: No US traders –No-

■ Islamic Accounts: Islamic Account type (SWAP-Free) is available –Yes-

■ Regulated: HYCM is regulated by FCA UK (No 186171) and MiFID EU

■ Web-Site Languages: HYCM website supports many 5 languages including English, Arabic, Chinese and Russian, (English, 简体中文, 繁體中文, العربية, Русский)

HYCM TRADING INFO SUMMARY

■ Broker Type: STP (Straight Through Processing)

■ CFD Trading: -Yes-

■ Platforms: HYCM offers 2 versions of MeaTrader4 (MT4 Install and MT4 Web), Web-Trader, and the CurreneX Platform for professionals

■ Trading Time Zone: GMT Server

■ Demo Account: HYCM is providing a Demo Account –Yes-

■ Typical Spread EUR/USD: 1.8 pips (no commissions), lowest spread starts at 0.4 pip

■ Scalping /Hedging: Only Hedging is allowed at HYCM

■ Bonus Policy: HYCM offers a 10% welcome bonus for all new clients and any amount

■ Minimum Account: $50 (Standard Account)

► Visit the HYCM

FOREX ASSET INDEX

□ HYCM is providing a great variety of Forex currencies (check the table below)

□ Great variety of Stocks and Indices via CFD contracts

□ Gold and Silver plus energy assets and commodities

 

SPREADS & TRADE COMMISSIONS

As concerns Fixed spreads, HYCM offers:

■ EUR/USD spread at 1.6 pip

■ USDJPY at 2.4 pips

■ GBPUSD at 2.6 pips

+No trading commissions charged on Fixed-Spread account

+CurreneX Pro accounts enjoy spreads starting at 0.4 pip

 

 

TRADING PLATFORM & MOBILE

HYCM TRADING PLATFORM & MOBILE

■ HYCM is offering:

(1) MeaTrader4 Install

(2) MetaTrader-4 Web

(3) Web-Trader

(4) CurreneX Platform

 

■ Hedging is allowed but Scalping is not allowed at HYCM.

■ Demo account is available at HYCM

■ HYCM offers mobile trading for iPhone and Android

■ Trading server: GMT

 

NEW ACCOUNT INFORMATION

■ The minimum initial deposit required for opening an account on HYCM is 50 USD.

TRADING ACCOUNT TYPES

Here are all the Account Types at HYCM:

Types	1. Mini Accounts	2. Standard Accounts	3. Premium Accounts	4. Pro Accounts
Minimum Account	USD50	USD750	USD2,500	USD5,000
Platforms Available	Webtrader, MetaTrader, Mobile Trader	Webtrader, MetaTrader, Mobile Trader	Webtrader, MetaTrader, Mobile Trader	CurreneX Pro Platform
Minimum Spread	1.8 pip	1.8 pip	1.8 pip	0.4 pip
Commissions on Trading	No	No	No	Yes
Asset Index	40+ Forex Pairs, Stocks, Indices, Commodities	40+ Forex Pairs, Stocks, Indices, Commodities	40+ Forex Pairs, Stocks, Indices, Commodities	40+ Forex Pairs, Stocks, Indices, Commodities
Minimum lot size	0.02	0.10	1.00	0.10
Telephone Trading	Yes	Yes	Yes	Yes
Automated Trading	Yes	Yes	Yes	Yes
	► Start from here (New Accounts)

HYCM FUND METHODS

 

■ Credit / Debit Cards | ■ Bank Wire | ■ Skrill | ■ WebMoney | ■ Paypal

 

 

HYCM Review Conclusions:

Based in London UK, HYCM is an STP Forex Broker owned and controlled by Henyep Group. The Henyep Group is a huge multinational company founded back in 1977, covering mainly the financial services industry and the real estate industry. HYCM is a regulated Forex Broker (FCA UK) offering also segregated bank client accounts via British Banking Institutions. The broker is also registered with the SFC in Hong Kong and the DFSA in Dubai. According to EU legislation it is also controlled by the EU MiFID.

■ Trading Technology

HYCM offers a good variety of trading platforms including the HY WebTrader, two versions of MT4, MT4 Mobile Trader plus the CurreneX platform for professional traders. HYCM is popular for the diversity of its asset index containing a very wide Forex Currency index, all major precious metals, and energy assets plus a big number of shares and indices from the US, UK, and Hong-Kong. Within their integrated environment, traders can trade all these instruments in the same account. It is important to mention that the broker guarantees no slippage on execution an important characteristic when trading in volatile markets.

■ Trading Terms

HYCM offers Forex and CFD trading. The minimum spread on EURUSD starts at 0.4 pip (Pro accounts) while the typical fixed spread (without commissions) on all other account types starts at 1.8 pips.

■ Trading Accounts

There are 4 man account types available to suit the needs of different traders (demo account is available too):

(1) Mini Account – Starts at $50

(2) Standard Account - Starts at $750

(3) Premium Account – Starts at $2,500

(4) Pro Account -Starts at $5,000

Deposits and Withdrawals can be made via several different methods including Credit/Debit cards, Wire, PayPal, Skrill, and WebMoney.

■ Customer Service

HYCM offers a very fast 24/5 customer service and one to one support for existing clients via live chat, phone, fax, and email. The customer service supports several languages including English, Arabic, Russian, Chinese, Hindi, and Urdu.

■ Offers to Traders

-Free trading education and market analysis

-Personal VIP services for some account types

-10% Welcome Bonus for all New Clients

■ HYMarkets Final Conclusion

The greatest advantage when trading with HYCM is definitely the safety of your money. The broker is highly regulated and it is controlled by a huge financial group with over 30 years of operational history. The trading terms offered by HYCM can be seen as average compared to competition for all account types except the Currenex Account type where the spreads are considerably tighter. Another advantage when trading with HYCM is the very wide asset index, especially as concerns Forex. At the time of this review, the welcome bonus policy is 10% and matches any amount. Overall HYCM is a good and reliable brokerage choice for all types of traders except Forex scalpers.

► HYCM Accounts

HYCM REVIEW PROS & CONS (According to competition)

HYCM REVIEW CONCLUSIONS
HYCM REVIEW PROS	HYCM REVIEW CONS
√ Regulated by the FCA UK, and offering fully Segregated Client Bank Accounts √ Controlled by the Henyep Group with over 30 years of operational history √ EURUSD spread starts at 0.4 pip (Pro Accounts) √ Very wide asset index especially as concerns Forex Currencies and Shares √ Good and Multilingual Customer Service (24/5) √ Free Education, Market Analysis and Trading Signals √ Supports PayPal and MoneyBookers ($50 minimum account)	X Scalping is not allowed (Hedging yes) X The Fixed spreads are not very tight compared to the competition X Inactive Accounts may be charged a fee

 

► Visit the HYCM Website

 

 

 

■ HYCM.com Review

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