HYCM was established in 1977, and with 40 years of solid experience within the forex industry, it already features a long diary of providing trustworthy and outstanding trading experience to its global customer base. HYCM clients are given everything required in making informed and well-calculated trading decisions.
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HYCM has garnered tons of accolades and awards for its excellent service. Two of the newer ones are the simplest Forex Broker award (UAE 2017) from Global Banking and Finance Review and Best Mobile Trading Platform (2017) award from World Finance. HYCM is recognized as an industry leaderand this has helped the corporate evolve into what it’s today – the worldwide traders’ online broker of choice.
HYCM is backed by the Henyep Capital Markets Group, a worldwide company with investments in property, financial services, charity, and education. it’s regulated by internationally recognized financial regulators CySEC and FCA, and has representations in Hong Kong , uk , Dubai, and Cyprus. This solid background is what makes HYCM reliable so customers are assured that they’re only getting the simplest trading solutions the forex trading industry offers .
HYCM Pros and Cons
Pros with HYCM
Over 40 years of solid forex trading experience. Established in 1977, Henyep Gold Dealers first invested within the Hong Kong Gold and Silver Exchange Society. By 1981, Henyep has already built its 25th office overseas showing its rapid climb . Henyep Investment (UK) Ltd then got its license from the UK’s FCA in 1998. Going with the expansion of technology and communications in 2007, Henyep Investment (UK) Ltd launchedits HY Markets online trading platform. 2015 was another milestone for the corporate as far licensing and regulations are concerned as it’s Europe arm was licensed by CySEC.
Multi-awarded. Being recognized by a number of the world’s leading forex brokerage organizations only shows how the corporate is performing and constantly evolving. HYCM has been cited by many of those award-giving bodies for being the simplest Forex Broker, having the simplest Trading Platform, and giving the simplest Customer Service.
Solid Background. HYCM boasts of a foundation that only a few forex trading companies can match. the corporate is a component of the Henyep Group, a well known global company with investment and business portfolios in locations that span the center East, Asia, and Europe. With quite four decades of solid trading experience, the Group may be a leader in its core businesses. HYCM inherited the Group’s integrity and expertise which benefits the clients and therefore the whole community also .
Cons with HYCM
Most of the negative reviews about HYCM come from alittle number of its customers. These are individual experiences and should not reflect the company’s overall performance in forex trading. Some previous traders cite the previous name was better before being changed to HYCM, while some mentioned the length of your time it takes to urge the refunds. All of those are being addressed continually by HYCM through continuous service improvement plans.
Trading Platforms Offered by HYCM
Trading platforms are the customers’ gateway to maximizing the potential of their investments. The platform should show the foremost current trends in trading as they happen, not a second too late. Forex trading, for instance , is extremely volatile and even the littlest market movements can have a big effect on a customer’s investments. That’s why HYCM offers the MetaTrader 4 Platform that’s available for desktops and smartphones.
HYCM’s Mobile Trading Platform
More and more people are logging on and that they believe their mobile phones in getting the newest news and knowledge from the digital world. HYCM embraces this reality by offering the MetaTrader 4 or MT4. Available on both Android and iOS devices from Google Play and App Store respectively, MT4 allows customers to trade forex anywhere within the world and anytime they need . From the mobile application, opening, managing, and shutting trading positions are immediately possible, giving customers complete control over their trading accounts.
Trading Options Available from HYCM
There are 3 account types available from HYCM that customers can choose from:
- The Fixed account has fixed spreads from 1.8 PIPS. There’s no commission and requires $100 minimum deposit.
- The Classic Account has variable spreads from 1.2 PIPS. There’s also no commission and requires $100 minimum deposit.
- The Raw Account has raw spreads from 0.2 PIPS. There’s a commission of $4 per lot (minimum) and a minimum deposit of $200 is required.
If you’re unsure what option is true for you, the HYCM site features a page that asks five questions and determines the account type that matches your requirements and capabilities.
HYCM – A Scam?
There are some traders who didn’t have an honest experience with HYCM for reasons that are beyond the company’s control and power. These people might post some negative reviews about HYCM in forums and social media and call it a scam. The famous phrase ‘you can’t please everybody’ applies here. Although most of HYCM’s customers can attest to how the corporate efficiently manages their investments, there’ll still be others who will fall flat the cracks.
It’s even as simple as this. How can a corporation that has existed for quite 40 years and has acquired tons ofglobal awards for trading excellence be a scam? The company’s transparency policy only shows how trustworthy it’s .
HYCM Demo Account and VIP Programs
For those that would really like to urge a feel of forex trading, HYCM offers demo accounts during which interested customers are going to be given £50,000 as virtual fund. this is often accessible by registering through the location and creating a demo account. The virtual fund are going to be available for 14 days. you’ll even trade using the MetaTrader 4 mobile trading application.
For those with tons of funds to take a position , they will prefer to have a VIP account. VIP accounts are assigned a fanatical account manager to handle their trades. They even have access to comprehensive and on the commodity exchange analytics in order that they can make decisions at the proper time and on the fly. VIP Fixed Accounts even have the advantage of getting better spreads for the forex investments, giving them a much bigger chance of optimizing their funds.
Deposits and Withdrawals on HYCM
HYCM is keen on providing only the smoothest deposits and withdrawals to its customers. They recognize that investors should be ready to invest and gain profit in as smooth a fashion as possible.
Funding accounts are made easy for patrons by offering a variety of methods during which funds are often transferred. HYCM is an advocate of fair trading practices and complete transparency altogether withdrawal processes and account funding. A customer only needs a minimum deposit of $100 to start out trading with HYCM. A customer only must attend the Client Portal, click on Banking and Deposit Funds within the account that he desires to use.
Withdrawals shouldn’t only be as smooth but also as safe as deposits and HYCM has made measures in ensuring that happens. the safety of the funds is formed by employing multiple security checks that ought to be completed before a withdrawal is formed . HYCM can process a withdrawal in as fast together day but the transfer usually takes 3 to 7 days to finish , counting on the bank where the cash are going to be transferred. HYCM has made the withdrawal process as efficient as possible.
The whole procedure are often completed online and security measures are put in situ in order that a customer’s funds are transferred back to its original source. meaning funds are withdrawn by wire transfer and may only be transferred back to the first checking account wont to fund the trading account as recorded in HYCM. Withdrawing is as simple as accessing the Client Portal, clicking on Banking, then Withdraw Funds. If the quantity being withdrawn is a smaller amount than $300, the customer are going to be charged $30 as transactionfee.
How to Get in-tuned with the Customer Support
Although the HYCM Knowledge Bank covers most of the company’s offerings and other articles which will help a client as he navigates forex trading, having someone who can answer other questions immediately may be a welcome option. HYCM possesses that covered with its Live Chat Support. Knowledgeable trading agents are always able to chat with customers on issues and areas of the corporate and forex trading as an entire that they don’t understand.
This puts a more personal touch to HYCM’s approach to customer support. Customers can email the Client Support at [email protected] and therefore the Complaints Support at [email protected] For General Inquiries and Account Opening, customers can call +44 2088167812 and +44 2088167812, respectively or email them at [email protected] and [email protected] Customers also can set a meeting at one among their many offices located round the globe.
Online Guides for brand spanking new Traders
There will always be new traders and HYCM possesses that covered by providing variety of articles aimed for those that decide to invest in forex trading and people who have already invested but want to grow their investments more.
Arming the purchasers with the proper knowledge and guidance on the ins and outs of forex trading has always been one among HYCM’s strongest areas. the fast Start Guide, for instance , will show you ways you’ll join the company’s roster of investors in as little as 5 steps. Customers also can learn more about HYCM’s offerings through a series of FAQs that aim to answer a number of the foremost common questions from different customers.
However, not all of the articles published onthe company website only promote their products. There also are various discussions that tackle investing generally . Articles that debate trading with the proper mindset, the benefits of commodities investment, and advanced lessons in forex trading are just a few of the good reading that you simply can find from the HYCM Knowledge Bank.
The articles are divided into areas so customers can easily sort them out and start knowing more about the forex trading industry and the way to achieve it.