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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. Mark F. says:

    The broker is rather good for me. It doesn’t try to cheat me. I haven’t seen any attempts of such activity. The practical experience with the broker shows what the company is all about much better than reading about licenses on its site. I trust practice and not words.
    As for the trading conditions, they are quite standard here. It’s not surprising because fierce competition makes brokers do the same things and they do.

    Reply
  2. Sommer says:

    HYCM is the perfect place for beginners. It's great that the min. trade size for stocks is one lot.

    Reply
  3. Anthony Clark says:

    The range of markets feature on hycm is a good addition, although it is a utility that can be skipped. I'm not too fond of the spread on the fixed account, but this tool prepares you for it.

    Reply
  4. Hongud says:

    The broker doesn’t give me reasons to worry and I hope it will not in the future too. By the way, I’ve recently learned about its affiliate program. I’m currently thinking how I can combine this stuff with my very active intraday trading.

    Reply
  5. Sobczak S. says:

    HYCM has a best conditions for real!

    Reply
  6. karkaigg says:

    Some traders don't really like fixed spreads, as it seems to them that the broker takes too much money from all the positions which they open.
    However, in my opinion, fixed spreads are cool as you don't depends on the market changes.

    Reply
  7. hj shah bin jasin says:

    I appreciate HYCM has the educational sector that good. As a trader with lack of knowledge and experience I found it is a great helper. Webinars are easy to understand and you could apply your knowledge simultaneously.

    Reply
  8. Antonin Duval says:

    HYCM broker attracted me by the fact of a strong fudns protection. They guaranteed that the clients and traders are protected by the FCSC and ICF.

    As for the data protection, the broker also guarantees the safety of your data, so traders can be calm - their data will never be leaked.

    For me it's a fundamental thing, because several times in my lfie I faced the situation when the data was leaked. It was super sad and the whole situation with leaked data really disappointed me. Since then I try to choose only the companies which guarantee this protection.
    Moreover, thanks to HYCM - I realized the necessity of having several types of account. They are really different. I chose the Raw one with floating spreads.

    Reply
  9. Marcel Fabre says:

    For me, HYCM is perfect broker!
    Of course, this is my opinion, but I have several reasons to think so. Now I will show you:

    1. All services of HYCM broker work well. But I don't know about support service... I never used this service because everything works fine =)

    2. I'm glad that broker uses MetaTrader4 and MetaTrader5 platforms. In my opinion, nothing is better than time-tested universal platforms. They allow to make standard trades as well as use custom indicators and Expert Advisors.

    3.In addition to standard trading conditions, several trading account options offered here. Depending on strategy or preferences, traders can choose conditions ideal for particular trading idea.

    4. Forex training. Here library and tutorials for anyone who wants to improve trading with HYCM. So, you can find helpful information and train your skills to pro level.

    5. Reliability and Safety. Modern and high-quality systems provide security for my funds. I am sure that my assets in reliable company.

    Finally, I hope this explains why HYCM is so awesome!

    Reply
  10. Virgilio Manfrin says:

    The overview diagram fully reflects my impression of the broker. Very reliable company that should be proud of the number of years they provide financial services. No wonder they attained some of the top regulators of the forex industry.
    On the downside I expected better trading conditions from this kind of company. Number of assets also leaves much to be desired. After all, for those who are not so spoiled by the variety of brokers, like me HYCM aims to the top.

    Reply

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