The minimum deposit for a live account with HYCM is $100. You should have a good the of online trading before you set out and trade with real money as losses can exceed deposits. Andorid mobile devices and tablets are https://broker-review.org/ used by millions of people globally. The broker offers a standard choice of trading platforms. The company offers its customers MetaTrader 4 and MetaTrader 5. HYCM provides its customers with a demo account option.

Anyway, I make my analysis separately from the platform. I like the Fixed account due to lower spreads, and I don’t need Expert Advisors. I also have an additional income on the HYCM affiliate programme as I talk to many people involved in trading. But the key features of this company became clear to me exactly in practice, when I started to trade personally and started to check the quality of certain services.

Brokers who need a higher minimum deposit amount typically have a wider variety of trading options available on their trading platforms as a result. These brokers frequently have more in-depth technical techniques and analysis tools and superior risk management capabilities. A minimum deposit is the bare minimum amount of money that HYCM requires from you to start a new online trading account with them. Don’t be put off because some brokers, such as HYCM require a minimum investment to create a trading account.

MetaTrader works fine for me, but it is not my favorite. Although the hycm platform supplements it, logging in doesn’t require two-step verification. I’ve only been trading with the broker for a month, but I’ll stick around because this is a decent broker.

Desktop trading platform

Meaning you can easily manage expenses, yet make sure to deposit in your account base currency and avoid conversion. There are plenty of ways to consolidate trading account, as well to withdraw funds from the account further on. HYCM applied democratic policy to money transfers, yet conditions and methods may vary according to the particular HYCM entity. Thus, in case HYCM by virtue of certain circumstances is unable to provide further financial services, customers may receive compensation. However, note regulation varies according to a particular entity where conditions and audit rules are diverse as well. Besides HYCM maintain powerful trading capabilities, offering an advanced range of trading instruments and accompany its clients with dedicated support.

As far as I understand, this is due to the bank verification procedure. If possible, it is better to withdraw through payment systems. I especially like that there is no commission when withdrawing to the card. Then, once I gained enough experience I started to realize that brokers with bonuses and very low deposits are usually unregulated brokers that often have liquidity issues. This understanding made me look for reliable brokers with a rich experience of working in the field. Swap-free Islamic accounts are available on all account types.

HYCM or Henyep Markets is a global CFD and forex broker. HYCM’s parent company,Henyep was established in 1977. The broker is regulated by several financial authorities globally, including the UK Financial Services Authority and the Cyprus Securities and Exchange Commission . Also it seems to me that it has the characteristics that are universal for all types of traders no matter thу experience. From all three types of accounts, according to the results of the special form, I have chosen fixed account. I came to HYCM after being out of forex trading for a while.

Available trading platforms on HYCM

Among the trading platforms that are available on HYCM are MetaTrader 4 and MetaTrader 5. Unfortunately, HYCM does not offer zero spread accounts. However, the broker provides very tight spreads starting from 0.1 pips and low commissions starting from $4 per standard lot per round. These are hycm review some of the lowest commission fees that you will find, putting HYCM up there with RoboForex in terms of low fees. The broker offers three types of accounts which can cater for different types of trading strategy. I trust the security of their services since they’ve been regulated since 1998.

At the beginning, I had problems choosing the type of account, as the broker has 3 of them. But as a result I understood that the Classic account will be the most advantageous for me. On it pretty low spreads, and thus there is no commission as on Raw account. Fixed spreads are better in long-term trading, as in the short-term they will ‘eat’ significant part of your profits.

Is the quality of customer service satisfactory?

And if you want to earn continuously – you need to learn constantly. And here on the broker’s website all the materials are at your fingertips, which is very convenient. Believe me, among the ocean of brokers, only a couple or three are really good. The broker is constantly evolving and gives its users a wide choice of accounts with different trading conditions.

• HYCM does not have other security methods, such as two-factor authentication or a security question.
• The broker’s representatives hold seminars featuring basic information for the customers.
• Withdrawal of money is available here on all popular services.
• BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you .
• This is while HYCM will execute your withdrawal request within one business day.

But, non-trading fees billed by HYCM are comparatively higher. Consequently, you are billed more for non-trading activities in your trading account, such as withdrawal and deposits. These aren’t related to the purchase and sale of assets. Our HYCM account review found that they are a professional choice for online trading solutions. They’re most appropriate for investors who are searching for an assortment of assets.

Is HYCM a market leading broker?

HYCM provides everything required for successful trading. I mean a good choice of financial instruments and proven platforms – Metatrader 4 and Metatrader 5. What’s more, if you like to trade at night, choose their Fixed account. Apart from regular webinars and educational guides, the Forex broker offers different types of videos through its YouTube Channel.

For this, the broker will ask you to upload a copy of a utility bill issued over the past three months. Traders can create the Islamic version of all available accounts. In order to ensure the highest safety of its clients, there are different policies that the broker has adopted. Among them, you can find Negative Balance Protection, Account Segregation, and so on.

HYCM review for traders – Is it a scam or not? – Test of the broker

You can open a brokerage account and start trading in HYCM even without leaving your couch. All verification is easy to complete in a couple of minutes right on the phone. Have you had any experience with unregulated brokers? I mean only honest brokers who have not yet become so popular.

The other two account types will have a fixed minimum spread. For instance, there is a minimum spread of $3 when trading AUDCAD. It’s imperative that an online broker has the ability to attend to all issues that may arise from customer accounts. You will find that there is 24/5 support on the platform. You can make use of the latest live chat feature and the FAQ section as your first port of call.