HYCM

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HYCM

Summary

This HYCM review gives you all the key facts you need to decide if it’s the right platform for your money. 

Advantages:
Disadvantages:

Let me tell you the Story

HYCM is a member of the Henyep Group, which is an international conglomerate with businesses in the financial services and property sectors. The broker is regulated by the UK Financial Conduct Authority, Cyprus Securities and Exchange Commission, and the Cayman Islands Monetary Authority.

It offers three types of trading accounts: Fixed, Classic, and Raw, which all have competitive spreads and commission-free trading. Over 300+ CFD instruments are available, including Forex, Stocks, Indices, Cryptocurrencies, Commodities, and ETFs. Furthermore, the company offers swap-free Islamic and demo trading accounts.

MetaTrader 4 and MetaTrader 5 are available for desktop, web and mobile computers. Additionally, traders have access to articles, videos, real-time market analysis, webinars, and 24/5 customer service.

Fees

  • HYCM’s trading costs vary depending on the market and the type of account. Fixed and Classic accounts offer commission-free trading, while Raw accounts offer commission-based trading with raw spreads.
  • Stock CFDs are also commission-free, with only spreads and swaps payable. On the broker’s website, spreads for each instrument and account are listed simply and transparently. Swap information can be found directly from the trading platform.

Deposits & Withdrawals Review

Advantages:
Disadvantages:

FAQ

With a debit or credit card, you can make the deposit instantly. A bank transfer takes 1-7 business days.

Withdrawal via bank transfer takes around 1 working days.

It is necessary to deposit a minimum of $50.

Minimum deposit of $250 for bank wire

There’s a minimum limit of $20 with credit cards, and a minimum of 300 bank wire.

HYCM does not charge on withdrawals above US $300, however withdrawals over $5,000 to Skrill or Neteller are subject to a 1% processing fee

All withdrawals must be in account holders name.

Accounts Type Review

HYCM offers three core trading accounts: Fixed, Classic, and Raw.

You can open a live account by clicking the ‘Open Live Account’ button on the broker’s website. It will then redirect you to a registration page that asks for the usual information such as personal information, account type settings, etc. After accepting the terms and conditions, users are redirected to the My HYCM client portal.

Using this area, users can open trading accounts, deposit and withdraw funds, access trading tools, and conduct research. In addition, users can verify their identity and address by clicking the ‘Verify Now’ button and providing proof of address and proof of identity document, as well as fill out more information regarding their trading experience, employment and income.

Assets Review

  • Forex
  • Crypto
  • Stocks, Indices, Commodites
  • CFD

With HYCM , you have the opportunity to trade a broad range of CFD instruments, including 40+ instruments

HYCM offers 16 cryptocurrencies for trading.

Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Bitcoin, NEO, Litecoin, Qtum, Zcash, Ripple, Monero, Dash, Ethereum, IOTA

HYCM has over 50+ Stocks, Indices and commodities to trade with 

Trading with HYCM is possible on more than 300+ financial CFD instruments, including Forex, Stocks, Indices, Cryptocurrencies, and Commodities.

Regulation

  • HYCM – Authorised and regulated by the UK Financial Conduct Authority under Henyep Capital Markets (UK) Limited for www.hycm.co.uk
  • HYCM (Europe) – Authorised and regulated by the Cyprus Securities and Exchange Commission under HYCM (Europe) Ltd for www.hycm.eu
  • HYCM Limited which operates www.hycm.com is an International Business Company registered in St. Vincent and the Grenadines and is not regulated by a financial regulator.

Is eToro a market maker?

The company is a Market Maker. and with a Dealing Desk.

Is HYCM trustworthy broker?

HYCM is a multi-regulatory broker that has provided trading services since 1977. It is well established and has a good reputation. The money that is funded to HYCM is placed into a segregated bank account at a tier 1 bank. HYCM does not directly hold your money, but rather a major bank does. The broker cannot access your money directly.

What is HYCM Headquarters country?

18 King William Street, London, EC4N 7BP, United Kingdom

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