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.
⚠️Warning: Although the broker is regulated by the FCA, a check of the FCA website shows that it is licensed under www.hycm.co.uk
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
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.
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.
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
Classic Account
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
| Deposit channels |
| Minimum |
| Currency |
| Period |
| fee |
| Bank |
| US $20 |
| USD, EUR, GBP |
| 1-7 business days |
| - |
| Visa |
| US $20 |
| USD, EUR, GBP |
| Maximum 1 hour |
| - |
| Netteller |
| US $20 |
| USD, EUR |
| Maximum 1 hour |
| - |
| Skrill |
| US $20 |
| USD, EUR |
| Maximum 1 hour |
| - |
| Crypto |
| US $20 |
| Crypto |
| Maximum 3 hours |
| - |
| WebMoney |
| US $20 |
| USD |
| Maximum 1 hour |
| - |
| Fasapay |
| US $20 |
| USD |
| Maximum 1 hour |
| - |
⚠️WARNING: HYCM does not charge for deposits but may incur bank charges
Withdrawal
| Withdrawal channels |
| Minimum |
| Currency |
| Period |
| fee |
| Bank |
| US $300 |
| USD, EUR, GBP |
| 1-4 business days |
| - |
| Visa |
| US $20 |
| USD, EUR, GBP |
| 1-7 business days |
| - |
| Netteller |
| US $20 |
| USD, EUR |
| Within 24 hours |
| - |
| Skrill |
| US $20 |
| USD, EUR |
| Within 24 hours |
| - |
| Crypto |
| US $20 |
| Crypto |
| Within 24 hours |
| - |
| WebMoney |
| US $20 |
| USD |
| Within 24 hours |
| - |
| Fasapay |
| US $20 |
| USD |
| Within 24 hours |
| - |
⚠️WARNING: HYCM does not charge for withdrawals above $300 USD, but there may be a bank fee deducted.
Withdrawals over $5,000 to Skrill or Neteller will incur a 1% processing fee.
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.
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.
Covers all credit card fees
Covers all e-wallet fees
Bank withdrawals are subject to fees of over $300.
Broker Customer Service
HYCM Review: Pros and Cons
strength:
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.
