This provides traders with more predictable and stable trading conditions. The advantage of HYCM demo accounts is that they are not limited in time of use and can be replenished at any time. This makes the demo account an ideal tool for practicing trading and learning about the trading platform’s features. The variety of HYCM broker accounts can satisfy the needs of most traders, ranging from beginners to professionals.
- Thus, the HYCM broker is under the control of several strict regulators, confirming the reliability and security of its activities.
- HYCM provides platforms for various devices, including desktop computers (Windows and macOS) and smartphones and tablets (iOS and Android).
- If you want to compare HYCM with other forex brokers in more detail, go to the Forex Brokers Comparison page.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.
He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018. You can deposit funds into your HYCM account using various methods, including bank wire transfers, credit/debit cards, cryptocurrencies, and several e-wallet options. Overall, the broker works well with beginner traders and is genuinely interested in teaching them how to trade. The processing time for withdrawal requests is within 1 business day.
This type of account suits experienced traders who prefer flexibility and can adapt their trading strategy to market changes. On a Classic account, traders can benefit from lower spreads than a Fixed account under certain market conditions. The Raw account is designed for professional traders and offers interbank spreads starting from 0 pips. Instead of spreads, traders on this type of account pay a commission for executing trades.
HYCM is one of the Forex and CFD market leaders whose reputation is backed by strict regulation by major financial authorities such as the FCA, CySEC and DFSA. This ensures high protection of the client’s funds and compliance with regulatory standards. The broker offers a wide range of trading platforms, including MetaTrader 4 and MetaTrader 5, recognized as some of the most reliable and functional in the industry. HYCM will be most suitable for traders looking for reliability and diversity in the toolkit without worrying about high commissions and a lack of innovative platforms. This broker is ideal for experienced traders who can use the analytical and educational resources provided to improve their trading strategies. The Classic account offers variable spreads, fluctuating depending on market conditions.
HYCM (Henyep Capital Markets) Review
We are confident that this will give you a complete understanding of how we come to our conclusions. Please continue reading for a deeper understanding of HYCM broker’s operations. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of hycm review other important fee-based data points. HYCM is a trusted brand that offers a straightforward MetaTrader platform experience and a proprietary mobile app.
Account Opening
However, the absence of cent accounts and investment accounts (copy trading, PAMM accounts) reduces the variety and flexibility of HYCM’s offerings. Henyep Capital Markets specializes in global financial and stock brokerage services. It is part of the Henyep Group conglomerate structure, a global leader in financial markets and real estate.
Choose from 100+ Trading Instruments
The staff’s professionalism and the effectiveness of the solutions are also rated positively. However, some clients point out fund withdrawals and chat support issues, which slightly lowers the overall rating. HYCM spreads and swaps are at the market average and comparable to most competitors.
Does HYCM offer a demo account?
- We are confident that this will give you a complete understanding of how we come to our conclusions.
- Use our country selector tool to view available brokers in your country.
- ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
- Registration is quick, but full functionality requires time for mandatory verification and completion of a financial profile.
- This provides traders with more predictable and stable trading conditions.
An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Most clients are satisfied with the support, although there are some negative reviews. The provided communication channels are extensive and available at times convenient for most clients.
The broker provides services to both individual investors and investment corporations. The broker offers a variety of educational resources to help new traders learn the basics of trading. HYCM’s trading commissions depend on the selected type of trading account and include transaction fees, spreads, and swaps. Thus, the HYCM broker is under the control of several strict regulators, confirming the reliability and security of its activities. The company’s clients can be assured of the transparency and fairness of the services provided. Thanks to multi-level regulation, investors are ensured protection of their rights and interests and guarantees of fund recovery in the event of disputes.
HYCM provides platforms for various devices, including desktop computers (Windows and macOS) and smartphones and tablets (iOS and Android). A web version of the platform is also available, allowing trading through a browser without installing additional software. The number of assets available for trading depends on the type of account selected. If a client’s account remains inactive, an administrative fee of $10 or the equivalent in the account’s base currency is charged each month until account activity is resumed. More detailed information about the refund of inactivity fees can be found in the HYCM client agreement.
Moreover, no commission is charged for depositing and withdrawing funds. The client’s area offers an intuitive interface and a wide range of features for managing your trading account. This information allows HYCM to offer you optimal trading conditions and provide recommendations on the use of trading instruments and services that best suit your needs and experience. HYCM is a leading Forex and CFD broker regulated by the FCA, CySEC, and DFSA, ensuring a high level of client fund protection and compliance with regulatory standards. HYCM allows clients to trade with virtual $50,000, which will be active for 14 days. Identity verification is mandatory for all clients wanting to start working with an HYCM broker.
HYCM – FCA Regulated Since 1998
The Raw account is ideal for scalpers, those who prefer to trade on short-term timeframes, and those who use automated trading systems or expert advisors. Fixed spreads characterize this type of account and are suitable for beginner traders just starting to trade in the financial markets. Fixed spreads mean that the difference between the bid and ask prices remains constant and does not depend on market conditions. Such an account allows traders to control their commission costs better. Yes, HYCM offers a demo account that allows traders to practice trading without risking real money.
The HYCM broker also offers the opportunity to open a demo account, which allows you to familiarize yourself with the trading platform and each type of account. Our ratings are based on a detailed analysis of each aspect of the broker’s operation. We use a strict methodology, including verification of the broker’s services and functionality, availability and quality of educational materials, professionalism of technical support, and much more. You can visit our methodology page for additional information on how we evaluate brokers.