HYCM

HYCM Review: Is HYCM Broker Good?

Broker overview and general information

HYCM (Henyep Capital Markets) was founded in 1977 in Hong Kong as Henyep Group and has expanded its business into global financial markets, opening offices in countries such as the UK, Cyprus and Dubai. In 2000, the company rebranded as HYCM to focus on CFD and Forex trading services.

Broker Licensing and Regulation

If you ask whether HYCM broker is good or not, you must first consider the license factor, which has the following licenses:

• Financial Conduct Authority (FCA) License No. 186171 under HYCM Capital Markets (UK) Limited (www.hycm.co.uk).

• FINANCIAL SERVICES AUTHORITY St Vincent & The Grenadines (FSA) License No. 25228 under HYCM LIMITED.

• Dubai Financial Services Authority (DFSA) License No. F000048 under HYCM Limited.

Broker Products and Services

Trading products

• Forex: Traders trade one of the world's most liquid assets, the Forex market. Choose from a wide range of currency pairs, with spreads starting from just 0.1 pips.

• CFD Shares: Participate in trading world leading companies and brands. Trade market movements in shares with CFDs. Margin starts from just 5%.

• Indices: Trade market movements on 15+ indices with leverage up to 1:200.

• Cryptocurrencies: Speculate on popular digital coins such as Bitcoin, Ethereum and Litecoin without actually trading.

• Commodities: Trade commodities without owning the financial instrument using CFD contracts. Just trade at the real market price. Get leverage up to 1:133.

Trading Platform

• Meta Trader 4

MetaTrader 4 (MT4) is a widely used electronic trading platform and is considered the standard in financial markets with its cutting-edge technology.

The platform offers a wealth of opportunities for traders of all levels, with advanced technical analysis, flexible trading systems and expert advisors, as well as trading applications on a wide range of devices.

• Meta Trader 5

MetaTrader 5 is a powerful, versatile platform that offers multi-asset trading, advanced technical analysis, fundamental analysis, flexible trading systems and the ability to integrate with automated trading applications or EAs.

MT5 offers additional timeframes and services, including 21 timeframes and 6 types of pending orders.

• HYCM Trader

Easily access a wide range of markets and trade multiple assets from a single account on the HYCM Trader App, the broker’s dedicated trading app designed to provide clients with the most complete trading environment.

Trade Forex and CFDs on stocks, indices, commodities and cryptocurrencies.

• Over 300+ assets to choose from

• Ultra-fast trading execution

• Custom account settings in the app

• Deposit and withdrawal in the app

• Multiple charts and indicators

• Marketing news and analysis

HYCM Account Type Review

The broker's trading accounts are available in 3 types: Fixed account, Classic account, and RAW account.

Fixed Account

• Spreads start at a fixed 1.5 pips.

• Minimum deposit is $20

• EA not supported

• Maximum leverage 1:500

• No commission

Classic Account

• Spreads start at 1.2 pips variable.

• Minimum deposit is $20

• Support EA

• Maximum leverage 1:500

• No commission

RAW Account

• Spreads start at Variable 0.1 pips

• Minimum deposit is $20

• EA not supported

• Maximum leverage 1:500

• Commissions: FX ($4/round), Metals($5/round), Others ($0 per round)

Deposit and Withdrawal Review

Deposit

Withdrawal

Promotions and bonuses

HYCM broker is considered a broker with a wide selection of promotions and bonuses, which are designed for the sole purpose of giving traders an advantage in the trading world.

• Earn $200 for each friend you refer to HYCM or equivalent in other currencies.

Each friend you refer must make a minimum deposit of $500 and complete 3 lots within 60 days.

Our referred friends will also receive a $180 trading credit bonus. If they deposit more, they will receive a bigger bonus of 20% up to $5000.

• Zero fees on deposits and withdrawals

Covers all credit card fees

Covers all e-wallet fees

Bank withdrawals are subject to fees of over $300.

Broker Customer Service

• Live Chat

• Email:[email protected]

• HYCM Headquarters London : 27-28 Clement’s Lane, St Clement’s House London EC4N 7AE United Kingdom

HYCM Review: Pros and Cons

strength:

• Wide range of trading instruments, low spreads

• There are promotions to choose from.

weakness:

• There are no Thai employees.

• There is a withdrawal fee.

• High minimum deposit

• There is a commission fee.

• FCA license 

Broker Overview Summary

HYCM broker is a broker that has advantages in terms of a variety of trading instruments and low spreads, including a variety of promotions to choose from. However, this broker has some disadvantages, such as no Thai employees, withdrawal fees, high minimum deposits, and commissions. Although it is stated that the broker has received a license from the reliable FCA, but from checking the FCA website, it was found that it is a license for only the website.www.hycm.co.ukonly

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HYCM Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.