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HYCM Review & Rating [yyyy]

HYCM Review & Rating 2022

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Read this HYCM broker review before opening your account. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets Forex broker review of HYCM. 

HYCM is an online retail broker that earned several awards from global bodies. Traders can trade forex, stocks, commodities, indices and cryptocurrencies through this broker.

We have carried out an extensive review of this company and found it legit and recommendable. This broker is famous for experience and customer support, along with some other unique trading features. Therefore, they provide a great variety of markets and products.

Overview

Company
8/10
Trust
8/10
Trading Platform
8/10
Account Types
8/10
Costs
8/10
Customer Support
8/10
Regulation
8/10
Cryptocurrency
8/10

At AtoZMarkets.com, we have a readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly!

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this HYCM broker review. Please go through this article on how we conduct our broker reviews.

Company

8 /10

HYCM has 40 years of experience in the forex industry. It was established in 1977. It already has a long track record and outstanding trading experience for its global customers. It provides the clients everything required in making calculations in trading decisions. 

The mother company of HYCM is the Henyep Capital Markets Group, which is a globally recognized company in investments in property, financial services, and education. HYCM is regulated by some internationally recognized financial regulators, including CySEC and FCA. It operates its business in the United Kingdom, Hong Kong, Dubai, and Cyprus. Customers are getting a better service from them, which makes their background robust and reliable.

HYCM has gained a lot of recognition and awards for its outstanding service. Of the two recent awards are the Best Forex Broker award (UAE 2017) provided by the Global Banking and Finance Review and Best Mobile Trading Platform (2017) awarded from the World Finance. Later on, HYCM also wins the Best Forex Broker 2018 (World Finance). HYCM worked as an industry leader and it helps the company to remain on the top list among the global forex brokers. 

Trust

8 /10

HYCM is a Multi-awarded broker and backed by the experienced forex trading platforms that are in operation for more than 30 years. Many award-giving bodies have recognized HYCM for being the Best Forex Broker and having the Best Trading Platform.

Trading Platform

8 /10

HYCM provides easy access to the forex market anytime and anywhere through its web-based trading platform. Moreover, it has industry-leading MetaTrader 4 and HY MT4 Mobile platforms. Additionally, they have Prime Trader, which is a brand new multi-asset, flagship platform. 

MetaTrader 4 & MetaTrader 5

MetaTrader 4 is a leading, world-renowned trading platform. It has live market news, advanced charting and analytical tools such built-in economic calendar, expert advisors, and trading central analysis support with 24/7 customer help. Traders can enjoy more than 40 free indicators with compatibility with thousands of free and paid indicators. Many advanced charting tools make the MetaTrader 4 Handy and user-friendly. Moreover, both MetaTrader 4 & MetaTrader 5 is available in Windows, Mac, IOS, and android. MetaTrader 5 has some more advanced charting tools that help the trader to analyze more perfectly.

Account Types

8 /10

HYCM offers 3 types of accounts - Fixed, Classic, Raw. Premium accounts are for the VIP Personal Dealer Service that provides a cutting-edge service to access all markets.

The Fixed Account is ideal for traders who are new to the industry. It requires a minimum deposit of $100 only. For Classic account, a deposit of at least $100 is needed and that is suitable for traders experienced traders. HYCM provides its clients in the UK and EEA up to 1:30 leverage as per ESMA regulations. Other clients can enjoy leverage up to 1:200 while trading with HYCM.

HYCM review

Cryptocurrency

8 /10

Traders can trade the top 5 cryptocurrencies through this broker, including the Bitcoin, Litecoin, Ethereum, and Ripple. It provides 1:20 maximum leverage for crypto trading.

Costs

8 /10

Customers only need a minimum deposit of $100 to start trading with HYCM without any charge. However, if the withdrawal amount is less than $300, the customer has to pay $30 as a transaction fee. This only applies to Bank Wires. All other withdrawal method charges are covered by HYCM.

Moreover, in its forex account, they charge 4$ commissions with a floating spread from 0.2 pips. However, the classic and Fixed accounts don't have any commission.

Customer Support

8 /10

The customer support of HYCM is available for 24/5 via email, webchat and telephone calls in their London-based phone numbers.

Regulation

8 /10

HYCM is headquartered in London, UK. Henyep Investment (UK) Ltd got its license from the UK’s FCA in 1998. Later on, going with the growth of technology in 2007, Henyep Investment (UK) 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.

Moreover, HYCM Ltd is also regulated under the CIMA and Dubai Financial Services Authority (DFSA). 

Conclusion

HYCM has been around for decades and its performance doesn’t seem like it is going away soon. If you are very cautious about where to invest your funds, you should choose HYCM as it is reliable in terms of regulation and funds safety.

Reviewed By

Our Broker Review methodology

Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers. Vetted by multiple industry experts - including a financial research firm with more than 20 years of experience in broker ratings - Our Broker Ratings and Reviews embody industry best practices for research design.

See how we conduct broker reviews
  1. Krezz says:

    The broker is ultra cool!
    I like that everything is done here so that the trader would feel comfortable to trade.
    The support department answer quickly. I think HYCM understands how important it is for beginner traders.

  2. Eamonn says:

    I chose HYCM because there are several simple reasons.
    - the broker has several serious regulations
    - it is possible to trade with the MT4 and MT5 platform;
    - there is an account with raw spreads

  3. Brendon Koelpado says:

    Hycm is a highly regulated broker with the strong reputation in trading community. It is very important to bear in mind the stability and consistency of the broker.
    Trading conditions are pretty fine there and hycm supports mt4 and mt5 platforms which appeals to me very much. More than that, there is a wide choice of financial instruments to trade there which also makes the whole trading more diversed and versitile, so that you can gain more profits without switching from one broker to another.
    Anyway, I can highly recommend this broker for trading, especially if you got used to trade with mt platforms.

  4. Brut says:

    I really like the form of five questions, which help me to find out what type of account suits me most. It's cool that a broker offer such a function.

  5. W_Rahmawati says:

    I have been trading with HYCM broker for four years, after I studied hycm reviews. First half a year I traded on demo account, then I went to real account.
    Gradually I have adjusted my trading strategy. I am not a super trader, but trading with HYCM I get from $600 to $1000 per month. For me it's already pretty good. My friends ask me about my tactics, but I do not have an unambiguous answer. I need to feel the market well.
    The short answer is: the strategy which suits you personally, your temperament, character, tolerance to risk, level of greed, ability to analyze, etc. is good. In general, during the existence of trading people have invented many ways and methods of trading, and I dare say that all of them are profitable, otherwise they would not have been invented. And then here comes the nuances. Everyone is different, many people drive a car, but not everyone is like Michael Schumacher, many people play soccer, but not everyone is like Pele or Maradona. So it's the same with trading - gradually you choose from a lot of opportunities the ones that are yours. And then life will show.

  6. Karim Das says:

    Adrian Ciger says:
    "In my opinion, the most significant and noticable thing which you can get from brokers is their conditions. All of them provide with various conditions and it’s kinda difficult not to notice them. This one has the fastest order executionI have ever seen. To my mind, it’s very important for those traders who are fond scalping, for example. By the way, anyone knows is the acces to the trading with this broker avaliable for everyone, because my friend wants to join this community, but he afraid that the acces to this broker from his country might be restricted?"

    I should say that the speed of execution was not the reason that made me join the broker. Instead I was motivated by the availability of fixed spreads here because they allow to conveniently trade at night.

  7. Alek Timonen says:

    I have been working on the Classic account for five months now. I tried to earn with robot, but I realized that there were too many risks and mistakes. I traded manually, but I realized that I lacked a lot of concentration and concentration. I think I would learn how to use it in a month or a month and a half and would finally start earning. So far got out of the invested funds withdrawal only once ordered, to 250 dollars and while the income does not grow much. I think I would learn how to use it in a month or a month and a half and would finally start earning. Yes, I am trading in profit, but everything is very slow.

  8. Caspar Grob says:

    I think that I could have never learned about this brokerage company, but I occasionally came across hycm reviews and it started my acquaintance with the broker.
    However, I should note that if you are looking for exclusive features, this broker is not for you. It’s for those who seek a reliable partner with a standard array of financial instruments and proven desktop solutions such as Metatraders. That’s what I call a conservative audience. However, for the last time cryptos have also become standard assets. I personally don’t find them weird. I take them as volatile assets with a promising future and it’s good that one of the oldest brokers in the industry supports digital coins.
    Besides this the broker offers fixed spreads in addition to floating ones of varying tightness.

  9. Adrian Ciger says:

    In my opinion, the most significant and noticable thing which you can get from brokers is their conditions. All of them provide with various conditions and it's kinda difficult not to notice them. This one has the fastest order executionI have ever seen. To my mind, it's very important for those traders who are fond scalping, for example. By the way, anyone knows is the acces to the trading with this broker avaliable for everyone, because my friend wants to join this community, but he afraid that the acces to this broker from his country might be restricted?

  10. Timothe Marchand says:

    I have been considering for a long time different variants of additional earnings in the Internet. A friend advised me to pay attention to the stock markets and Forex, told me about cryptocurrencies, I did not like the latter, but HYCM broker attracted by very reliable reputation, many positive reviews and people often praise and recommend it. I decided to try it myself and if something confuses me, I will share it here. So far, the convenience of the site pleases me, all the information is gathered point by point, very convenient. I wonder if there is enough stock to trade?

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