Want to Access Global Markets? First Read our HYCM Forex Broker Review
Forex trading is still a relatively new form of investment, and it’s not all that often we get to look over the services of a Forex broker with more than 3 decades of experience in providing financial services. Read our HYCM review and discover more details about a broker that promises peace of mind with the help of an international reputation for trustworthiness and reliability. There aren’t all that many Forex brokers that can boast of such a pedigree. What are the benefits of choosing HYCM as your Forex broker?
.$5,000 BonusRegulation: FCA, FSCS
Overall Forex ScoreB+ GradeOther Rating Criterias
Why Choose HYCM Forex?Multi-Asset PlatformSpreads from 1.5 pipsNew Education SuiteTrade Now!
- Access to all major markets
- More than 30 years of operational history
- Opening an account is quick and easy
- A range of trading platforms
- Live customer support
- Detailed market information
- Full range of products for trading
- Comprehensive suite of educational material
A quick intro to HYCM
HYCM was formerly known as HY Markets and is a member of the Henyep Group, which has its roots as a member of the Hong Kong Gold and Silver Exchange Society back in 1977. Today, Henyep has a global reputation for providing top quality financial services, education, property and charity across 3 continents. HYCM (Henyep Capital Markets UK Ltd) is licensed and regulated by the FCA. There is also a European branch of the brokerage firm HYCM (Europe) Ltd that is licensed by CySEC.
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HYCM’s reputation means there is little need for attractive bonuses
If you’re looking for an HYCM bonus we’re sad to inform you that there isn’t one. More than 35 years experience in the industry means there is no need to offer amazing bonuses in order to attract new customers, and the quality of service requires no incentive to keep current clients on board. That being said, there is a loyalty program that rewards regular traders with a rebate of up to $3 per lot traded. The rebate is paid directly into a trading account on a monthly basis, provided a certain number of lots have been traded. HYCM also has a Refer a Friend Scheme that can earn traders up to $250.
Wondering whether there is an HYCM mobile trading app?
If you’re the kind of trader who enjoys being able to trade on the move mobile trading is possible with HYCM mobile applications for Apple and Android devices. With the help of a downloadable HYCM mobile trading app, you can trade currencies, stocks, indices, and commodities wherever you might be. HYCM also provides a number of MT4 trading platforms along with its own in-house trading platform Prime Trader. More than 120 products are available for trading along with technical charts, news, and analysis. There is an optional guaranteed stop/loss, live tradable prices and an easy to use interface for placing trades.
An initial deposit of $100 will give you access to an HYCM Micro account
It depends on the value of your initial deposit as to what type of account you can choose to open. The smallest deposit is $100 and will get you a Micro account that offers leverage up to 500:1, access to 50 tradeable instruments and fixed spreads from 2.0 pips. The next step up is to open a Standard account with a minimum deposit of $1,000. This account is obviously for a trader with a little more experience and offers leverage up to 300:1, access to 120 tradeable products and fixed spreads from 1.8 pips. Finally, there is a VIP account for those who can start their trading venture with an initial deposit of $10,000 or more. The account opening process is a little more complex and not as simple to arrange online. A call to an HYCM advisor is recommended. There is also the option of an interest-free Islamic account for religious reasons.
HYCM accepts a number of different payment methods including the usual credit and debit cards, wire transfer and UnionPay. Trade accounts are available with base currencies in USD and EUR only, but payments are also accepted in KWD, SAR and AED. Financial transactions and personal details are kept safe and secure with the help of 128-bit key encryption.
HYCM gets our top marks for customer service
After more than 3 decades in the business, HYCM has had plenty of time to brush up the quality of its customer service and it definitely shows. Quick to respond, the customer service team are available from 23.00 on a Sunday to 21.00 on a Friday, either at the end of the phone, via the online chat option or by sending an email.
HYCM also like to keep their clients well-informed and educated in all things Forex related. As well as a good selection of trading tools, there is a beginners course covering basic Forex terms, types of orders, winning tactic, and how to gain the Forex advantage. There is also a great selection of eBooks, tutorials, trading strategies and a guide to the MetaTrader 4 software.
So what did we think of HYCM? Writing our HYCM review was very revealing and we can only say that it offers everything and more you would expect from a broker with so many years experience. If you’re looking for a solid and dependable broker, with no need for fancy bells and whistles, you’re on to a winner with HYCM. There is plenty to offer both beginners and more experienced traders so why not try them out for size?
Click here and get $5,000 Welcome Bonus at HYCM Forex!