When you answer this, you will be prompted which account you need. Mobile application seemed to me pretty convenient and I didn’t spend so much time on sorting out how to use this mobile application. Actually, this details was the main for me, so I can claim that everything is okay with it.
Is HYCM regulated?
Trade with HYCM – Multi-Regulated Forex & CFD Provider.
The spreads here are average, although the broker’s website says that the spreads start at 0.1 pips, I have not yet had to deal with such spreads. I often trade stocks on MetaTrader 5 trading platform, it is a pity that there is no possibility to use mt4 for stock trading. I wanted an account with low fixed spreads, that was one of the reasons why I registered with this broker. Also this broker has an account with floating spreads and trading conditions on this account are as good as on the fixed one.
Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. The majority of deposits and withdrawal methods are fee-free but minimum amounts do apply. Users registering with the HYCM (St.Vincent and Grenadines) entity can also take advantage of the deposit bonus.
HYCM presents itself as a true professional, so at the moment we won’t treat it as a fraudulent company. However, the responses of the traders we are waiting for this review will not only affect the ratings of the broker on the web portal, but also warn market players of various problems. The mobile apps allow traders to work from anywhere, with functionality to close and modify existing orders, and calculate profit/loss in real-time.
HYCM Review 2022: Is HYCM Broker Safe to Trade?
The HYCM MetaTrader 5 mobile trading app and its features are covered in more detail in the video review. I really like the form of five questions, which help me to find out what type of account suits me most. A normal broker with good terms of cooperation and a lot of tools for novice traders. It is cool that there is an opportunity to trade automatically. 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.
After more than a month of hard trading, I finally made a profit. Until the first withdrawal in late May, HYCM said that I violated the rules, so they closed my account and deducted my profits. At present, I can’t log in to my personal Center, I asked them for evidence, but I didn’t receive a reply from them.
What is HYCM?
HYCM also provides traders with state-of-the-art technology and detailed processes where cybersecurity is concerned. The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods. The bonus is just a reward for the trader’s currency quotation choice that gives some of these expenses back to the trader, once proving himself as an active trader. The cost of trading depends on different factors like commissions, spread, and margins. The broker also charges an inactivity fee after 90 days of $10 per month.
There is no doubt HYCM is a very safe broker to work with. The regulatory commissions have top tier reputation among the trading community. You can get lower spreads, but it’s on a commission based account.
Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised. HYCM’s non-trading fees are average compared to other similar brokers. As you can see from the table above, the trading costs on the Fixed and Classic accounts are built into the spread, but are higher than the costs on the commission-based Raw Account. With the financial backing of its parent company, worldwide regulation, and frequent industry recognition, HYCM is regarded as a safe option for traders.
I.e EU customers will be under CYSEC regulation, etc. Im just learning HYCM and haven’t made a deposit yet, I want to check everything before investing my money. The first time I saw a broker who immediately provides data on the regulation and terms of cooperation – usually it is necessary to find out somehow, but I do not like this. All the rest is marketing and advertising, although I do not rule out that some training materials and services can be very useful for beginners.
A bit about demo
I didn’t use it myself, but the presence of this fund already guarantees that I can always get my money by working with hycm. I respect this broker for its reliability and a rich experience in the industry. My personal experience with this company proved that I can continue working with this brokerage service.
Across Europe, HYCM is regulated by the Cyprus Securities and Exchange Commission . The broker is also regulated by the Cayman Islands best free options trading course Monetary Authority and also by Dubai Financial Services Authority . Cryptimi.com is to be used for information purposes only.
Withdrawals of less than 300 USD via bank transfer carry a processing fee of 30 USD. However, since recent years I started to be interested in this topic as it’s one of the most perspective activities in the net. HYCM is regulated by two of the main regulators tickmill broker review of the Forex market namely, the FCA and the CySec , besides CIMA and DFSA and IBC 2018 regulations. A withdrawal fee of $30 is charged for withdrawing amounts under $300. The economic calendar keeps track of all the latest forex related news and information.
In some cases, HYCM might ask for the credit card details of traders for further processing of their withdrawal requests and to avoid forex scammers. Users can also take the advantage of the MT4 mobile trading platform that lets them trade on the go. The mobile application can be downloaded from Apple Store or Google Play Store.
HYCM is a regulated and experienced broker that is recommended to all traders. When it comes to choosing a broker, the vast majority of traders give the top priority to its reliability. A trustworthy broker needs to have sufficient experience in the field. Serious investors usually stick with respected brokerage services operating on the market for a long time. I was reluctant to entrust my hard-earned money to a young brokerage service.
Even though both these are regulated trading platforms, Trading212 lists more instruments (1800+) than HYCM (300+). Both HYCM and Trading212 keep customers’ funds in segregated bank accounts and provide investor compensation funds. Trading212 doesn’t charge any fees for deposits/withdrawals, whereas HYCM charges a flat fee if the withdrawal amount is less than the minimum limit. Trading212 supports a number of payment options more than HYCM.
No issues with the platform
In my forehead, support is of key importance to me, because when you find yourself in some crisis situation, you may need some help or specific advice, etc. And maybe this is what I was looking for in this business. And actually they were not just standard phrases or some general phrases – they were specific tips and things that I have to do right now to configure the terminal. We even immediately talked about the withdrawal procedure and other important points. And of course I felt incredibly important as a client, and I liked the fact that it was so easy.
Is IC market regulated?
IC Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC). IC Markets is monitored by one of the strictest financial regulatory bodies in the world.
It’s better to trade on the demo until you accumulate the necessary capital. HYCM account types include three accounts Fixed, Classic and Raw Spread Accounts that are different models accounts. HYCM uses either a fixed spread model with slightly higher spread, means commissions are not charged on trades. Classic account offers variable spreads, and Raw spread is provided by interbank spread from 0 pips with commission per trade.
HYCM review Markets and products
The withdrawal of funds is possible only for authorized traders, it’s carried out within 4-8 business days or instantly . All payments through electronic payment systems are carried out without commissions. The bank transfers have commissions, but on the official website you can find a list of partner banks, cooperation with which will reduce these costs. Overall, HYCM offers an average number of trading currencies compared to most other brokers, including accounts denominated in GBP. It also allows traders to open multiple trading accounts in different currencies.
HYCM forex customer support team is multilingual and equipped of highly professional personnel always ready to solve any customers’ issues fast and effectively. The depositing and profit withdrawal in HYCM are fast and available with the usage of a wide range of payment systems, including all the most popular currently. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Yes, HYCM offers a good trading environment for all types of traders, from beginners to advanced. The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.
If you are a beginner, you can hardly earn a lot of money fast. First, you should learn how to forecast the market. If you succeed in this, you can work on short timeframes trading intensively in daytime.
The minimum deposit requirement on this account is 100 USD, making it accessible to beginner traders. The low minimum deposit requirements across all account options make them suitable for beginner traders. We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.
HYCM vs Trading212
Between 74%-89% of retail investor accounts lose money when trading CFDs. Despite it’s called “Raw”, it’s actually an ECN account. Here we have a typical ECN offer – tight floating spreads and a commission.
The overview page directs you to the download link and the setup window. This review will discuss the different features of the two platforms to help you decide which one is best for you. While withdrawal requests are generally processed within one business day, it can take between 3 and 7 days for the funds to show in your account due to stringent security checks.
Apart from that, users can contact their support team with other communication apps like Viber, WhatsApp, Skype, Messenger and Telegram. For general queries, users can refer to the knowledgebase articles or the FAQs section on its official website. The Spread Fee on HYCM varies depending on the account type and cryptocurrency chosen. For example, the minimum spread for BTC EUR is and 2500 (Classic/Raw account). To find out the spread for all cryptocurrencies, check out their website. HYCM retains the right to increase or decrease spreads at a very short or no notice; you want to always refer to the official website for the latest applicable ranges and fees.
Then, he can select his preferred deposit method, fill in the required information, and then finally click on the “Submit“ button and the money will be credited in his preferred account type. There are also various deposit bonuses available on HYCM. In case traders intend to deposit money by credit card, the broker requires a photocopy of the front of that specified credit card. Only the raw spread account provides an attractive pricing environment. Forex Education – Under this section traders will find a range of tutorials, trading strategies, educational videos, and eBooks.
HYCM is a market maker, providing trading services to clients. The Cayman Islands Monetary Authority and the Dubai Financial Services Authority regulated HYCM Ltd and Henyep Capital Markets Limited, respectively. HYCM Limited is an International Business Company registered in Saint Vincent and the Grenadines. Tier-1 banks are the custodians of segregated client deposits, negative balance protection exits, and HYCM maintains a clean regulatory track record in all jurisdictions. The content on this website is provided for informational purposes only and isn’t intended to constitute professional financial advice. The content is provided on an as-is and as-available basis.
MetaTrader 4, which is an industry-leading software is loved for many reasons, but mainly for its ease of use and comprehensive features. Web Platform is a great choice due to its easy access via any browses and does not require any installation or specific settings. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences. No issues with the platform and this is the most decisive thing for me when I chose a broker. At BrokerChooser, we consider clarity and transparency as core values.
HYCMs Trading Instruments
Undoubtedly, one of the strongest points of this company is its high reliability. Indeed, a broker with +40-year experience can’t be a scam. So, if you are seeking a trustworthy broker with decent execution, this company could be the right choice.
Therefore, they provide a great variety of markets and products. It provides a quality web-product, unique services. The company keeps developing, following modern trends in trading in financial markets.