HYCM Review

Review

HYCM, formerly HY Markets, is headquartered in London, UK, and is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. HYCM is a division of Henyep Capital Markets which is a leading capital markets trading firm that has an operational history of 30 years and specializes in foreign exchange and CFD's on commodities, metals, equities, indices, and treasuries. With offices in major cities in three continents, including in Dubai and Kuwait, the broker is one of the most established in the financial services industry.

HYCM Trading Account

HYCM offers 3 types of accounts based on trading experience--Mini, Standard and Premium. Larger accounts qualify for the VIP Personal Dealer Service which provides cutting-edge service and access to all markets.

Account Types

The Mini account, which is ideal for a trader who is new to the market, requires a minimum deposit of only $100. A deposit of at least $1000 opens a Standard account, suitable for traders with a bit of experience.Available leverage is 1:500 and 1:300 respectively. The VIP account for high rollers requires a minimum of at least $10,000 to start. Leverage of up to 1:300 is offered and the spread is 1.5 pips.

Trading signals are available for Standard and VIP accounts and mobile trading is provided for all three.

An Islamic account is also available for those adhering to Sharia laws where financial interest is forbidden.

There is no demo account offered.

HYCM Trading Platforms and Features

HYCM offers a large number of trading assets including Forex and CFDs, metals such as gold and silver, energy products such as U.S. oil and natural gas, as well as the all-important commodities such as cotton and sugar, indices, a selection of blue-chip stocks and more. And unlike most Forex only providers, HYCM enables their clients to trade multiple capital markets in the single integrated account.

HYCM provides access to cutting-edge trading tools used by the world’s largest banks and professional traders, including trading ideas, technical patterns and insights, and market research from Trading Central, an award winning technical analysis research provider founded in 1999 with offices in Paris, London, New York and Hong Kong.

Trading Central is a global authority in FX research with a 14 Year Track Record that reaches out to 30 million traders.

There are three different trading platforms at HTCM. The MetaTrader4 offers live market news, advanced charting, expert advisors and technical analysis tools such as Trading Central.

The Prime Trader platform is HYCM’s brand new, multi-asset, flagship platform with integrated pricing, charts and trade screens, complete online account management and advanced charting.

A mobile trading platform is also available with complete trading capabilities, real-time news, charts and other advanced features.

Education

The education section of the HYCM website offers not only standard videos but also textual lessons on topics geared towards both beginners and advanced traders. Subject include Introduction to the Capital Markets, Tips for Traders, Managing Risk, Trading Tools and more.

Education Center

Technical and fundamental analysis is gone into in much detail and is highly informative. The section on the history and psychology of the markets is most interesting.

In addition to the above, HYCM offers a daily outlook and updates as well as weekly market commentary on what is happening in the most traded commodities such as oil, gold and silver, indices, and the major currencies.

I found the FAQ section a big sparse and the questions and answers did not provide additional information beyond what can be found in other sections of the site.

Bonuses/Promotions

HYCM offers a 10% bonus up to $5000 for its HYCM Ltd clients. All other clients will not be able to access the company’s bonuses, as per European regulations.

Deposits/Withdrawals

Deposits are accepted via credit cards, wire transfers, Skrill, PayPal and WebMoney. Withdrawals can be requested by filling out an online form.

Customer Support

Traders can reach customer support 24/5 via email, chat and telephones to London.

Conclusion

HYCM’s new website is easy to navigate and all the information is accessible without any difficulty. HYCM has a long history behind it and the fact that it is regulated puts it one step ahead of many other Forex brokers in the industry.

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Features

HYCM Features

HYCM offers a large number of trading assets including Forex and CFDs, metals such as gold and silver, energy products such as U.S. oil and natural gas, as well as the all-important commodities such as cotton and sugar, indices, a selection of blue-chip stocks and more. And unlike most Forex only providers, HYCM enables their clients to trade multiple capital markets in the single integrated account.

HYCM provides access to cutting-edge trading tools used by the world’s largest banks and professional traders, including trading ideas, technical patterns and insights, and market research from Trading Central, an award winning technical analysis research provider founded in 1999 with offices in Paris, London, New York and Hong Kong.

Trading Central is a global authority in FX research with a 14 Year Track Record that reaches out to 30 million traders.

HYCM Company Information

HYCM is a division of Henyep Capital Markets which is a leading capital markets trading firm that has an operational history of 30 years and specializes in foreign exchange and CFDs on commodities, metals, equities, indices, and treasuries. HYCM has offices in major cities on three continents, including in Dubai and Kuwait.

HYCM Account Information

HYCM offers 3 types of accounts based on trading experience--Mini, Standard and Premium. Larger accounts qualify for the VIP Personal Dealer Service which provides cutting-edge service and access to all markets.

The Mini account, which is ideal for traders who are new to the market, requires a minimum deposit of only $100. A deposit of at least $1000 opens a Standard account, suitable for traders with a bit of experience. HYCM clients in the UK and EEA can get leverage up to 1:30 as per ESMA regulations. All other clients can enjoy leverage up to 1:200 when trading with HYCM.

Trading signals are available for Standard and VIP accounts and mobile trading is provided for all three.

An Islamic account is also available for those adhering to Sharia laws where financial interest is forbidden.

We were unable to find any information on the company’s site about a demo account, though we did see reports of it being offered.

Customer Support

Traders can reach customer support 24/5 via email, chat and telephones to London-based phone numbers.

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Platforms

HYCM provides easy access to the world’s capital markets anytime, anywhere through their web-based trading platform, industry leading MetaTrader 4, or HY MT4 Mobile platforms.

Prime Trader is HYCM’s brand new, multi-asset, flagship platform. It offers multiple markets and products, integrated pricing, charts & trade screens, guaranteed stop/loss available, complete online account management and advanced charting.

HYCM Trading Platforms

MetaTrader 4

The MetaTrader 4 trading platform is a leading, world renowned trading platform. It offers live market news, advanced charting and technical analysis tools such as Trading Central, online account information, Expert Advisors (written by third parties) and security and 24 hour support.

The Prime Trader platform is HYCM’s brand new, multi-asset, flagship platform. It offers multiple markets and products, integrated pricing, charts and trade screen, complete online account management, guaranteed Stop/Loss and advanced charting.

The HYCM Mobile app is free to download and has complete trading capabilities, real-time news and charts. It provides traders with instant trade execution, trade history, live charts for all products and the ability to trade anytime, anyplace while managing their account and portfolio.

MetaTrader 4 WebTrader

MetaTrader4 WebTrader is another platform available for use at Hy Markets. MetaTrader 4 is one of the most popular platforms used in the industry today and it continues to offer a host of features.

The HY MT4 Webtrader allows clients to access their MT4 download accounts from any web browser. It has the same navigation, look and feel as the industry-leading MT4 platform with live streaming tradable prices, advanced charting tools, and real-time online account information.

No additional downloads are required and traders can benefit from award-winning tools as well as live news streamed directly into the state-of-the-art trading platform that can be accessed by any Internet browser.

The HY MT4 Mobile app is seamlessly integrated into the HY Trader MT4 account. Traders can view prices, monitor their account information in real-time, access charting and news feeds, and execute trades on the go from their mobile device.

Hy Pro Trader

The HY Pro Trader is a high-tech institutional grade platform for professional traders who have at least $5,000 dollars in their account. Pricing is from a large number of global banks and market participants and both single or double click trading are done on live executable prices. The Hy Pro Trader can be set up to enable the upmost trade efficiency and traders can benefit from convenient visual access and the ability to open, close, modify or cancel orders with ease.

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User Reviews

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