HYCM Forex Broker Overview Can You Trust Them?

HYCM Forex Broker Overview Can You Trust Them?

Like the entire MT5 platform, the Economic Calendar is also compatible with automated trading applications like EAs and Trading Central. Moreover, the advanced technical analysis options consist of unlimited charts, and a total of 38 technical indicators, and 44 analytical objects. The Classic spread trading accounts offer variable spreads to hy-markets traders whose minimum value is around 1.2 pips. To create a Classic account, the HYCM minimum deposit required is 100 USD and the minimum trade volume should be 0.01. In contrast to the fixed account type, automated trading solutions are enabled in the case of the Classic account type. Classic accounts provide clients with a dedicated EA.

  • And for those who prefer to trade on the move, HYCM mobile apps are compatible with any mobile or tablet device.
  • We reviewed MetaTrader 4 because of its high popularity.
  • HYCM applied democratic policy to money transfers, yet conditions and methods may vary according to the particular HYCM entity.
  • Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
  • On the other hand fixed spreads, that I have tried here, haven’t helped me much, on the contrary, I have “overpaid” much for sure orders.
  • The broker is a member of the Henyep Group, the international financial holding company established in 1977 which headquarters in London, UK operating in financial services, education and real estate.

Popular asset classes, such as real stocks, are missing. The broker uses hycm broker MetaTrader trading platforms that have a slightly outdated design.

Is the quality of customer service satisfactory?

Of course fixed and floating spreads also have their benefits. It seems to me that it depends more and more on the strategy and your position sizes. Other, additional branches holding appropriate licenses from Dubai, Cyprus, etc. which confirms an unparalleled follow of the operational guidelines. Our ultimate guide to the HYCM minimum deposit is updated regularly. HYCM is part of the Henyep Capital Markets Group, an international conglomerate specializing in financial services, property, education, and charity. Thephone supportat HYCM was average-speed, we received relevant answers and customer service representatives were helpful. HYCM has an above-average forex selection but the stock CFD lineup is minimal compared to its main competitors.

HYCM forex broker

You just take a picture of two documents and send it to the app. The broker charges an overnight fee for an open trade. I chose HYCM as my broker because of its regulation and positive reputation on the market. https://forexreviewdaily.com/ I was told that in order to receive my money, I have to pay HYC a one time $10k signaling fee. First of all these variety of regulations is needed cause it covers all the distant areas of the globe this way.

FAQs on HYCM

He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He’s eager to help identify the characteristics of specific brokers, so the best match can be found for each client. We tested the debit card withdrawal and it took more than 3 business days. Under your https://forexreviewdaily.com/hycm/ HYCM profile, you canopen more than one account with different account base currencies. For example, you can have both a EUR and USD account for MetaTrader 4 at the same time. Moving funds between accounts that have the same currency is free and instant. International users with USD accounts are able to fund their account using crypto.

And I was glad about it because I saw that I was not mistaken in my choice. In fact, I analyzed and tried all the services that are presented here.

HYCM forex broker

Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money. HYCM has long been known as an honest and experienced broker. I am glad that after I opened a real HYCM account, I started trading successfully. This happened because I studied hard and practiced a lot on the HYCM demo account.

HYCM Review

I have never complane about such details, as I understand they have many withrawal request. Iopened a Classic account with floating spreads from 1.2 pips. It is not for nothing that it has been on the market for so many years and has high positions everywhere. The application https://forexreviewdaily.com/ for mobile trading is clear, it replaces the full-size terminal completely. Then I found out that this is a group of companies that provides various financial services. Then I believed in the competence of HYCM and believed that I needed to trade with this broker.

You are unable to access tradersunion.com

But there are some disadvantages that have almost no effect on anything, and there are those that can ruin your trading quite badly. I started by reading a few reviews about https://forexreviewdaily.com/hycm/ HYCM on some forum. I was interested in the broker, so I decided to open an account with it. And then I faced the first problem – it has quite different types of accounts.

For example, there is regulation here which is great news, and money is withdrawn here quickly and with small commissions. But there are no bonuses here which I personally would like to use and the analytics here are too standard, nothing remarkable at all. Yes, it’s possible to open a joint trading account with another person, one should write to the https://www.plus500.com/en-US/Trading/Forex broker’s customer service to get their official authorization. I joined this broker following one of the recommendations received on my favorite trading forum. I have always put reliability first when assessing any broker. I don’t care how many exclusive features this particular broker can offer. I just want to have peace of mind when trading with it.

HYCM Commodities

Over the past few years, cryptocurrencies have become one of the most popular assets around the world. There are many different ways you can trade cryptocurrencies today, but it has become very common for Forex brokers people to trade them as CFDs. One of the biggest advantages of trading currency pairs in HYCM is that there are over 70 currency pairs available. This includes Major, Minor, and Exotic currency pairs.

Check your account balance, deposit and withdraw funds, and execute internal transfers between your accounts. I wanted to describe the positive aspects of trading Forex brokers with HYCM, but I realized that it was difficult to find words. In terms of general indicators – spread, withdrawal, execution speed, everything suits me.

In Poland, the company is regulated under the Polish Financial Supervision Authority . In Germany, the company is regulated under the Federal Financial Supervisory Authority . HYCM is the subsidiary company of the main holding company named Henyep Capital Markets Group. HYCM also has several wings that operate under the Henyep Capital Markets Group in different jurisdictions and thus are regulated by the apex organizations of that particular jurisdiction. To be able to verify your account, the first step will be to verify your identity.

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