HYCM maintains a transparent and competitive fee structure, ensuring traders are fully aware of their costs. The brokerage charges spreads, which vary depending on the trading instrument and market conditions, as well as commissions for a specific account type or instruments. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Moreover, I always had certain tasks and plans, which I had been creating for several years and never thought about Forex or anything like that. And I began to understand that the picture that I imagined did not quite correspond to reality, and I really did not have the opportunity to realize what I wanted.
- The Raw account is ideal for scalpers, those who prefer to trade on short-term timeframes, and those who use automated trading systems or expert advisors.
- Select one or more of these brokers to compare against HYCM (Henyep Capital Markets).
- ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
- With HYCM you basically get everything you expected and you have no reason to worry about how the broker will influence your work.
Compare HYCM (Henyep Capital Markets) Competitors
While HYCM primarily focuses on Forex and CFD trading, it also provides access to a range of investment options. coinmama exchange review Traders can explore more than 1000 stocks and create a personalized investment portfolio through HYCM Invest, a platform that enables investors to diversify their assets. With multilingual support, the broker caters to a diverse global client base, addressing concerns in various languages.
How to Contact Support?
Broker HYCM charges average trading commissions comparable to most competitors. Opening an account with HYCM is simple and convenient. Registration is quick, but full functionality requires time for mandatory verification and completion of a financial profile.
The team is well-trained to handle technical issues, account-related queries, and general trading assistance. Testing the MT5 platform reveals several key advantages, such as its enhanced speed and improved charting tools compared to MT4. The platform’s advanced order management system offers greater flexibility for executing hitbtc exchange review strategies.
Deposit and Withdrawal Options
Speaking of hycm broker we know that there are many things that I’d like to mention. There is the legendary MT4 and its famous younger brother MT5. As many people know, MT5 has more possibilities for analysis. There are opinions that this is not really necessary and MT4 is a complete software for analysis and trading. It’s easier because the broker offers a quiz to determine the type of account you need. Everyone knows that there are three trading sessions.
Additional Tools and Features
The broker did a good job on assuring the tarnsparency of trading and relationship with its customers. Every cusotmer from very part of the world can be sure of the funds safety here. They are regulated with a well-known and trust worthy authorities, tehy offer negative balance protection and at the same time don’t made their trading commissions too high due to this fact. This is a rare opprotunity to trade with a regulated broekrage and still have affordable fees and spreads.
I remember that I was very happy that I found this test. By the way, I chose a classic account, and I traded on it for several weeks. However, I quickly realized that this account type isn’t suitable for me, and I didn’t need to blindly believe the results of that test, but to think a little about what trading conditions will suit me better. When deciding on this brokerage service, I certainly took into account a great number of nuances. What I learned about this broker inspired me because I rarely saw brokers with a 40-year experience.
The key features are summarized in 10 points, covering aspects like Trading Education, Account Types, available Trading Platforms, and more. The broker offers a variety of educational resources to help new traders learn the basics of trading. HYCM offers a relatively extensive set of educational materials covering various aspects of trading, including fundamentals, strategies, platform operations, and other essential topics. However, some traders may lack more personalized training, such as an individual course or seminar. HYCM offers a variety of account funding and withdrawal methods.
That’s not a big problem for me since I know enough about these classical solutions. Some people require custom-made platforms, others opt for advanced alternatives to MTs such as cTrader. Nevertheless, MTs are still the number one trading terminals and most probably will retain their status in the near future. Offering MTs only, HYCM caters to conservative traders and this is a logical move for a veteran broker. The Classic Account offers variable spreads starting from 1.2 pips, making it suitable for traders who prefer a more flexible spread structure that adjusts to market conditions.
Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. In terms of funding methods, HYCM offers numerous payment methods which are a very good plus, yet check according to its regulations whether the method is available or not. HYCM Limited is authorized and regulated under the Dubai Financial Services Authority with license number F000048.
- On the negative side, I think there is an unfortunate distribution of account types in HYCM.
- Overall, MT5 offers an intuitive interface combined with powerful features, making it suitable for traders who require advanced tools and more efficient execution.
- I would say that the company lacks certain things, but it does have its advantages.
- HYCM stands out with strong regulatory backing from authorities like the FCA and DFSA.
Other top-league brokers accept deposits starting from $5,000-$10,000, but this broker is unique in this regard. Swap rates are transparently displayed on the trading platforms, ensuring traders have full visibility of potential overnight costs. For those who prefer to avoid swap fees, HYCM offers swap-free accounts compliant with Islamic finance principles. This flexibility allows traders to manage their positions effectively while accommodating different trading preferences and requirements. Based on our findings, HYCM is a global CFD and Forex broker providing access to more than 300 trading instruments. The broker offers clients good trading conditions, great liquidity, and low spreads axitrader review and fees.
Your trading time will also depend on which assets you choose. I think what you need to consider when creating hycm reviews. I learned about this broker from numerous hycm reviews I discovered online. The more I read about the broker the more intrigued I became.
Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. One of the best Trading platforms I found after trying so many companies in UAE. Specially the support I got from their team was really impressive .