Knowledge of the use and optimal leverage is the key to a successful trading strategy in the financial market. So, regulators restrict brokers in the leverage, reducing the trader’s risk from unnecessary risks and psychological pressure. As I understand it, HYCM started offering online trading almost as soon as online trading emerged. They’ve had plenty of time to build a reputation, and they seem to have done well. I have just started trading CFDs here but so far, so good. I chose the broker because of its reputation and distribution policy.

hycm review

Moreover, I always had certain tasks and plans, which I had been creating for several years and never thought about Forex or anything like that. And I began to understand that the picture that I imagined did not quite correspond to reality, and I really did not have the opportunity to realize what I wanted. And then it turned out that I didn’t have much desire. So I had a new choice – I had money to create a new business project, but had no idea what I wanted to do.

This choice means that there’s something for every level of trader, and every budget. HYCM is headquartered in London, UK. Henyep Investment Ltd got its license from the UK’s FCA in 1998. Later on, going with the growth of technology in 2007, Henyep Investment Ltd launched the HY Markets online trading platform. pepperstone reviews 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.

Can I trust HYCM?

Premium accounts are for the VIP Personal Dealer Service that provides a cutting-edge service to access all markets. It’s a member of Henyep Capital Markets LLC, which is one of the oldest financial institutions, successfully operating in international markets for up to forty years. For such an impressive period of activity, the holding has reached a leading position in terms of the number of clients and the turnover of trading operations. The primary difference between MT4 and MT5 is that MT4 is a Forex-only platform, while MT5 is a multi-asset trading solution.

Which trading platform is legit in South Africa?

Interactive Brokers is our top pick as the best online trading platform in South Africa. Interactive Brokers was founded in 1993 and their trading platform offers access to shares, options, forex, futures, bonds and funds across global 135 markets.

Forex Awards shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the press releases or reviews made by the site contributors about the forex companies. The entire responsibility for the contents rests with the contributors and commentators. Reprint of the materials is available only with the permission of the editorial staff. Withdrawing the available funds from the HYCM is pretty simple and straightforward. The amount that can be withdrawn as well as the processing time required depends on the methods of payments selected by the clients.

HYCM is a time

During the time I worked with it there were no negative moments. Despite the reviews about unregulated market, I managed to make about 100% profit in a year with this broker. So, if there is a good broker and a profitable trading strategy, the result is guaranteed. In addition, trading signals from the broker can also be a good support to hedge risks from your own inexperience. I need a trustworthy broker with specific trading conditions for night trading and I fortunately found it. As for specific conditions, I mean fixed spreads.

MetaTrader 4 is still undoubtedly the world’s most popular trading platform for forex traders due to its ease of use, feature-rich environment, and automated trading ability. HYCM’s trading platforms are average compared to other brokerages. HYCM offers trading accounts denominated in six base currencies, which is around the average offered by most other brokers, and it offers accounts denominated in GBP. It has lots of interesting features, like EAs trading or low spreads, which might be widened, but it’s okay. It offers an information that is good for both newbies and experienced traders and it is a pleasure to have this information in one place. I can always return to some questionable moments and check it there.

Broker Information

Its selection of varying account types is impressive — though new traders might have a bit of trouble determining which fee structure would be most beneficial for them. HYCM is licensed and has received numerous awards over the course of its 40 years of experience. HYCM offers a varying fee structure, which allows investors to choose the spread option that’s best for them. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders. Though HYCM isn’t currently available in the United States, it can be a great choice for residents of the other 140 countries where it offers service.

hycm review

It turns out that you can create a business under any circumstances, especially if you have a desire. I started trading with HYCM with the educational program. Then I moved to a demo account and only after that I started trading with a real ECN account. It was a very positive experience which helped me to understand that trading is a serious business and I have to be ready to invest my money and time. Of course, such long-term investments are only possible with a reliable broker.

Overall it’s a B+ broker for beginners to think about, with its reputation and minimum depo of $100. Glad to see that the educational level of local traders has increased and they choose competitive brokers to trade and dont get into scam. Im telling many times people to choose old brokers. HYCM provides easy access to the forex market anytime and anywhere through its web-based trading platform.

Is HYCM regulated?

HYCM offers demo account, just go to your account after signing up and choose Create Demo Account. Demo is the same as the real account, but without risking your own money. For me, trading is my main source of income, so I was looking for a broker with an impeccable reputation. HYCM turned out to be just that, not only on paper, but also in practice.

The fixed spreads account model is characterized by a slightly higher spread (1.8 pips), which means that there are commissions charged on trades. However, though HYCM offers a commission-free fixed spread account to traders, the automated trading feature is disabled in the Fixed account which is again a drawback. Fixed accounts do not provide any EAs to traders. But there are some disadvantages that have almost no effect on anything, and there are those that can ruin your trading quite badly. I started by reading a few reviews about HYCM on some forum.

There is also a streaming news feed that compiles important headlines and data releases from various news sources. As HYCM Limited is based offshore, new clients can take advantage of the 10% first deposit bonus. To qualify, users must deposit a minimum of $100 and for every $1,000 bonus awarded, the user must trade 30 standard lots within 60 days. The HYCM MetaTrader orbex review 5 mobile trading app and its features are covered in more detail in the video review. It provides professional services to advanced and professional traders but also caters to beginners who want to learn more about trading. Furthermore, HYCM also offers beginners’ courses, tutorials, trading strategies, and eBooks which cover classes on assets traded on the platform.

With advanced technical analysis, flexible trading systems and Expert Advisors as well as mobile trading apps, all your trading needs are covered. The MetaTrader 4 mobile app allows trading on the financial markets via iOS and Android powered smartphones and tablets. There is a dedicated HYCM customer support center available in multiple languages on the broker platform that is active all throughout the day , 5 days a week. Retail traders can contact the HYCM customer support team by email, phone, fax, or live chat.

I chose HYCM because I like to select trading conditions and trading tools. I trusted my money when I wanted to earn extra money for acquiring a bike by making greater depo for my trading strategy, and everything was okay. Yeah, there might be delays with withdrawing hull moving average strategy money but it’s okay. I have never complane about such details, as I understand they have many withrawal request. I came to HYCM after being out of forex trading for a while. They gave me faith in myself and provided me with all the tools I needed to succeed.

With its minimum deposit of $100 and min trading volume of 0.01 it potentially can be for newbies. MT4 App – This app allows traders to monitor their account status, execute trade transactions, and track trade history. Furthermore, it gives traders access to quote charts, trade orders, and top analytical tools. Push notifications and the possibility to chat with other traders are some more handy features of the MT4 mobile trading app. 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.

How long does IC Markets withdrawal take?

* Withdrawals are processed within 24 hours and the funds will take about 2-5 business days to reach your bank account. ** If the fund transaction shall be executed through intermediary banks, you may incur additional fees. Please note that you will be liable for any fees charges by the banks for the transactions.

These were tutorials, attended one webinar, articles and of course I have read almost full FAQ section. Fixed and Classic accounts do not carry commissions. With a Raw account, however, you will be charged a $4 commission on forex trades, per round lot, and a $5 commission on certain commodities. Yes, our review of HYCM found that the broker is regulated by the FCA, CySEC, CIMA, and DIFC. This gives traders across the globe and ensures that you are properly protected at all times.

Trading Instruments

In Sweden, the company is regulated under the Finansinspektionen . In Poland, the company is regulated under the Polish Financial Supervision Authority . In Germany, the company is regulated under the Federal Financial Supervisory Authority . HYCM is the subsidiary company of the main holding company named Henyep Capital Markets Group. HYCM also has several wings that operate under the Henyep Capital Markets Group in different jurisdictions and thus are regulated by the apex organizations of that particular jurisdiction.

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 have been trading with this broker for a long time. I really like that HYCM has licenses from various government agencies. This is very important for me, because I’m so calm about my money.

And for those who prefer to trade on the move, HYCM mobile apps are compatible with any mobile or tablet device. A number of innovative trading tools have also been developed, as well as some special features and widgets that are easily accessible through any of the platforms. It’s preferable for traders to have a broker which would offer them several types of accounts, several platforms, interesting conditions concerning education and so on. Everything is mixed here and satisfies the most part of traders’ wishes. The Fixed Account is a commission-free account, with spreads fixed at 1.8 pips on the EUR/USD, which is wider than other market makers.

The customer support of HYCM is available for 24/5 via email, webchat and telephone calls in their London-based phone numbers. Read this HYCM broker review before opening your account. Find out more with AtoZ Markets Forex broker review of HYCM. Calculation on the stupid who want to read reviews, the text will find a couple of small negative things not critical and at the end will see the conclusion — the company is good not a scam )))). HYCM’s educational materials are well-structured, comprehensive, and in-depth compared to most other brokers. An impressive array of 24 analytical tools, available in nine timeframes for each financial instrument.

Customer service is much better than average, and the educational material available only adds to the experience. The lack of a demo account shouldn’t put many people off, as the low minimum deposit requirement means that new traders aren’t likely to get their fingers burnt. MULTIRAGULATED This is the first thing that you see when visit their website. Let me explain why this is important and why this was the primary reason I’ve started using their service. Lots of brokers are registered in offshore zones. That’s ok in my opinion, but the license they get from the local authorities does not really assume any liabilities to their customers.

Besides this, I appreciate that the broker offers tried and tested trading solutions such as MT4 and MT5. I appreciate that much better than some new and unproven solutions. I have been interested in trading for several years. And I believe that this business will be mine for many years, because there is always something to strive for and there are always some unusual moments and non-standard ways to solve them. This company has attracted my attention because of its serious regulation. It seems to me that this is one of the security guarantees.

HYCMs Trading Instruments

And the MT terminals don’t prevent it, so we can say that I’m in a real paradise for myself. … Money has already been withdrawn – it came the next day. Besides, there are Islamic trading accounts available for traders with no adjustments. Also, compare HYCM trading fees to BlackBull Markets. I believe that quality of brokerage services starts with reputation. Trading conditions may seem uncomfortable, but HYCM is known as company with extensive experience in financial markets.

HYCM’s trading fees are higher than other brokers on two of its account types and lower than other brokers on its Raw Spread Account. This account also has variable spreads, but much tighter than on the first one. There is one difference though, classic account can be used for algo trading. Algo trading is something that is for more experienced traders. Bank wires, credit/debit cards, WebMoney, Neteller, and Skrill, are supported. The minimum amount is $20 for deposits and withdrawals, while bank wires are the exception.

This can be important because theinvestor protection amount,the maximum leverage allowed and the regulator differ from entity to entity. Unfortunately, only the clients of HYCM’s EU and UK entities are covered by investor protection. Yes, it isregulated by several financial authorities globally, including the top-tier FCA. Webinars and workshops are scheduled weekly at HYCM.

I have recently had an unpleasant issue with my ex-broker. I remember someday I even failed to enter the market at the desired price. The broker doesn’t try to cheat me when I trade and it pays out earnings.

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.

In the future, we’d love to see HYCM introduce a proprietary platform, as the MetaTrader system can be intimidating for new traders. We’d also love to see HYCM extend services to traders based in the United States. However, for now, HYCM remains a comprehensive choice for traders of all skill levels looking for affordable fees, high leverage availability and a choice of investment products. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money.

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