This HYCM review conducted by the team of “ForexSQ” experts for those who want to know about how to open a trading account with HYCM broker. The HYCM forex broker is the trading name of Henyep Capital Markets Ltd., a part of the Henyep Group, a global corporation with numerous business activities spanning three continents and 20 countries internationally. HYCM previously known as HY Markets is regulated and licensed in the UK by the Financial Conduct Authority, under the company name Henyep Capital Markets Limited with reference no. 186171.
Henyep Capital Markets Review
Henyep Capital Markets, also well-known as HY Markets, is a large Forex broker based in the UK and functioning out of offices in London, Hong Kong, and Dubai. Regulated in all these locations, HY Markets places a special importance on shot of operations and customer security. Customer assets are being kept in separated accounts, and the broker is an associate of the UK’s Financial Services Compensation Scheme, which is responsible for a protection of up to 50,000 GBP for each customer.
With over 30 years of knowledge in the arena, HY Markets is an upright broker choice for both experienced and novice traders. It provides three account types, depending on the size of the account, and a trader can start with as small as 50 dollars. Islamic accounts are also presented.
HY Markets spreads are fixed and nearly average 1.8 pips on EUR/USD. The trading tools range covers metals, oil/gas, currencies, commodities, indices, and stock. This can be traded through MT4 and the broker’s individual platform HY Webtrader.
HYCM provides 3 types of accounts based on trading knowledge as Mini, Premium, and Standard account. Larger accounts are suitable for the VIP Personal Dealer Service which offers cutting-edge service and access to all marketplaces.
The Mini account, which is perfect for a trader who is new to the marketplace, requires a minimum deposit of only 100 dollars. A deposit of a minimum 1000 dollars opens a Standard account, right for traders with a bit of knowledge. Available leverage is 1:300 and 1:500 respectively. The VIP account for high rollers necessitates a minimum of 10,000 dollars to start. The spread is 1.5 pips and Leverage of up to 1:300 is provided.
Trading signals are presented for VIP and Standard accounts, and mobile trading is provided for all three types of account.
The management at Henyep Capital Markets is proud to declare “Prime Trader,” its new exclusive trading platform. Though, if you are more comfy with MT4, rest guaranteed that HYCM has also aligned with MT4 for its web-based and basic trading platforms. Henyep Capital Markets has also combined many innovative trading tools that can be opened directly on its numerous trading platforms. HY Webtrader supports the iPad, iPhone and Android devices. The newest in 128-bit SSL encryption technology defends your personal and trading activity data from hacker intrusion.
The MT4 trading platform is one of the utmost commonly used in the world, and many other trading platforms are comprising it in the amenities they provide customers, including HYCM. The MT4 platform offers live market news with a variety of trading tools that comprise Expert Advisors as well as advanced charting capabilities, and expert technical analyses
Spreads and Leverage
For Mini accounts, spreads can start as little as 1.8 pips, however for Standard and VIP accounts; the spreads can begin at 1.5 pips or lesser. Leverage for Mini account can be as high as 500:1, but advanced account classes are reduced to 300:1 or lower depending on fund item. In certain cases the firm will spread leverage as high as 500:1, but caution is guided since leverage can increase losses, as well as improve increases.
Deposits and Withdrawals
HYCM provides several convenient methods to deposit and withdraw funds. These ways include major Debit and Credit cards, Skrill, Bank Wire Transfers and WebMoney. All funds are protected through separation in top-tiered banks and/or by national security schemes.
Regulatory acquiescence confirms that these high standards are maintained on a constant basis. Withdrawal requests will at all times be handled promptly, as long as lawfully required documentation is present and on file. HYCM has received a good deal of admiration on the Internet for how easily and rapidly it is to withdraw funds, at all times a good sign.
The only promotion provided at HYCM is the Refer-a-Friend program. HYCM has intended this program to reward their customers for their support and helping to introduce HYCM to other people inside their social network. All-time a family member and friend is referred, funds and registers a trading account with HYmarkets, the customer has the chance to earn up to 250 dollars.
HYCM offers expert customer support services in a variety of languages comprising Hindi, Chinese, Russian, Urdu, and Arabic. Traders can reach customer support 24/5 using the live chart, email and telephones to the UK.
Being part of a big international group with more than thirty years of experience in the commerce, HYCM is a trustworthy and well-regulated broker, providing practical conditions for trading in a variety of CFDs and currency pairs.
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