HYCM Review 2024

What is HYCM?

HYCM is a global brand that provides forex and CFD trading services to clients in over 140 countries. HYCM stands for Henyep Capital Markets, which is the name of the company’s founder, Mr. Michael Hanyecz. HYCM has been in the business since 1977 and is regulated by several authorities, including the top-tier FCA in the UK. In the context of forex, HYCM offers access to over 200 currency pairs, as well as indices, commodities, stocks, cryptocurrencies, and ETFs. HYCM also provides its clients with a variety of trading platforms, such as MetaTrader 4 and MetaTrader 5, which are widely used by traders around the world. HYCM’s trading conditions are competitive and transparent, with low spreads and commissions on most accounts. HYCM is a reputable and trustworthy broker that has won numerous awards for its service quality and customer satisfaction. HYCM also offers educational resources and market analysis to help its clients improve their trading skills and strategies. HYCM is suitable for traders who prefer a straightforward and user-friendly platform experience, as well as a diverse product portfolio.

What is the Review Rating of HYCM?

What are the Pros of HYCM?

HYCM, a well-established global brand, provides forex and CFD trading via a group of individual entities in different jurisdictions, including the top-tier FCA. It offers low forex and CFD trading fees. , which is a significant advantage for traders. HYCM offers a wide selection of quality educational tools. , which can be beneficial for both novice and experienced traders. The account opening process is easy and fully digital. , making it convenient for users worldwide. HYCM has over 300 trading instruments. , providing traders with a wide range of options. The company has been operating for over 40 years. , which speaks volumes about its reliability and extensive experience in the financial markets. HYCM is known for its excellent trading services, with high-speed execution. , and tight spreads that start from 0.1 pips. It also offers 24/5 customer support services. , ensuring that traders can get assistance whenever they need it. Lastly, HYCM provides its clients with the MetaTrader 4 and MetaTrader 5 trading platforms. , which are considered the gold standard in the forex and CFD trading world.

What are the Cons of HYCM?

HYCM, while a well-established global brand providing forex and CFD trading, has a few drawbacks. The broker’s product portfolio is limited to forex and CFDs, with popular asset classes such as real stocks missing. The trading platforms used by HYCM, namely MetaTrader, have a slightly outdated design. Another downside is the inactivity fee. HYCM charges a $10 inactivity fee per month after 90 days of inactivity. Customer service does not operate on weekends. , which could be inconvenient for traders who need assistance during those times. The broker is also not ideal for scalping. , and offers few opportunities for passive trading. Lastly, HYCM does not offer a cent account. , which could be a disadvantage for some traders.

What are the HYCM Current Promos?

HYCM, a multi-regulated Forex and CFD provider, offers several promotions to its users. One of the key promotions is the No Deposit Bonus. This bonus allows traders to start trading without requiring any initial deposit. Another promotion is the 100% Trading Credits. This offer matches the amount of your deposit with trading credits, effectively doubling your trading capital. The Birthday Bonus is another unique promotion that rewards users on their birthday. The Invite Friends program is a referral system where users can earn bonuses by inviting friends to join HYCM. Lastly, the First Deposit Bonus under HYCM Ltd is a promotion where users can receive a bonus on their first deposit. Please note that all these promotions come with their own terms and conditions.

What are the HYCM Highlights?

HYCM, a well-established global brand, provides forex and CFD trading via individual entities in different jurisdictions, including the top-tier FCA. It has over 40 years of operational history. and a clean track record with no major regulatory incidents or fines. HYCM offers low forex and CFD trading fees. , and a wide selection of quality educational tools. The account opening process is easy and fully digital. However, HYCM’s product portfolio is limited to forex and CFDs. The broker uses MetaTrader trading platforms, which have a slightly outdated design. HYCM charges a $10 inactivity fee per month after 90 days of inactivity. HYCM offers trading in CFDs on forex, indices, commodities, stocks, and cryptocurrencies. In February 2020, the company expanded its CFD offering to include exchange-traded funds (ETFs). The companies under the HYCM Group are regulated in multiple jurisdictions. Registered clients can practice trades and strategies in a demo account. HYCM has excellent trading conditions, good liquidity, and fast execution of orders. It offers over 300 trading instruments and 5 types of investments. Spreads start from 0.1 pips. The firm provides multilingual support in 14 languages.

What is the HYCM Origin Story?

HYCM, a member of the Henyep Group, is a global CFD and Forex broker with more than 40 years of cumulative group experience. The Henyep Group, an international financial holding company established in 1977, has its headquarters in London, UK, and operates in financial services, education, and real estate. HYCM has strategically located offices in major financial centres, including the UK, Cyprus, UAE, Kuwait, and Hong Kong. It is heavily regulated, complying with regulatory agencies in each jurisdiction. HYCM provides access to more than 300 trading instruments, offering clients good trading conditions, great liquidity, and low spreads and fees. It is recognized as one of the most reliable brands in the industry. HYCM’s offerings include various account types, and it enables trading through the MT4 and MT5 platforms, as well as its own App. It also provides a wide range of financial tools, including calculators, an Economic Calendar, and free access to services like Trading Central, Seasonax, and Financial Source.

Is HYCM Legit and Trustworthy?

HYCM, a global company with a solid track record, is regulated by several authorities such as the FCA, CySEC, and DFSA. This makes HYCM a low-risk and secure broker to trade with. HYCM has a high trust score of 90 out of 100. and is fully regulated by the Financial Conduct Authority (FCA). It offers competitive spreads on Contracts for Difference (CFDs) and provides over 300 trading instruments. Customer reviews indicate that most users are generally satisfied with their experience. However, some users have reported issues, which suggests that while HYCM is largely trustworthy, potential users should proceed with caution. It’s always recommended to do thorough research and consider multiple sources before choosing a forex broker.

Is HYCM Regulated and who are the Regulators?

HYCM is a forex broker that is regulated by several financial authorities globally, including the top-tier FCA in the UK and the CySEC in Cyprus. These regulators ensure that HYCM complies with the strictest standards of safety, fairness, and transparency in the forex market. Here is a detailed answer to your question:. HYCM is regulated by the following financial authorities:. The Financial Conduct Authority (FCA) for UK clients. The FCA is one of the most reputable and respected regulators in the world, and it oversees more than 60,000 firms that provide financial services to consumers and businesses. The FCA protects investors from fraud, misconduct, and poor performance by imposing strict rules and regulations on its regulated firms. The FCA also offers compensation schemes for eligible clients who suffer losses due to their brokers’ failures. The Cyprus Securities and Exchange Commission (CySEC) for European clients (EU + European Economic Area). The CySEC is the primary regulator of securities markets in Cyprus, and it licenses more than 200 entities that offer investment services to EU and EEA residents. The CySEC ensures that its licensed firms comply with the MiFID II directive, which harmonizes the rules and standards for trading derivatives across the EU. The CySEC also provides investor protection measures such as segregated accounts, negative balance protection, and compensation schemes. Customers from other countries are onboarded via HYCM’s legal entity registered in St. Vincent & the Grenadines. This entity is authorized by the Financial Services Authority (FSA) of St. Vincent & the Grenadines to provide financial services to clients outside of its jurisdiction. However, this entity does not have any regulatory oversight or supervision from any other authority, which means that customers from other countries are exposed to higher risks when trading with HYCM. In addition to these regulators, HYCM also has a subsidiary based in Hong Kong that is duly licensed by the local regulator – the Securities and Futures Commission (SFC). The SFC regulates all securities markets in Hong Kong, including forex trading activities. The SFC imposes strict rules on its licensed firms to ensure fair trading practices, market integrity, investor protection, and anti-money laundering measures. As you can see, HYCM is a fully regulated broker that operates under multiple jurisdictions with different levels of regulation. This gives customers more.

Did HYCM win any Awards?

HYCM, a globally recognized brand in the forex trading industry, has indeed won several awards. One of the most notable accolades is the “Most Transparent Forex Broker 2023” title at the Hercules.Finance Forex Awards. This award underscores HYCM’s commitment to providing fair and transparent trading services. In addition to this, HYCM has been recognized for its trading platforms. It has won awards for the “Best Mobile Trading Platform” and the “Best Retail Platform” among others. The company’s strong presence in Europe, facilitated by its adherence to strict regulatory guidelines set by CySEC in Europe and FCA in the UK, has also contributed to its success. Overall, these awards reflect HYCM’s dedication to excellence, innovation, and customer service in the forex trading industry.

What type of Forex Broker is HYCM?

HYCM, also known as Henyep Capital Markets, is a well-established, global brand that provides forex and CFD trading. It operates through a group of individual entities in different jurisdictions, including the top-tier Financial Conduct Authority (FCA). HYCM offers a wide selection of quality educational tools and has low forex and CFD trading fees. It provides access to global markets with superior trading conditions. The broker uses MetaTrader trading platforms. It also offers a range of financial tools, including calculators, an Economic Calendar, and free access to services like Trading Central, Seasonax, and Financial Source. However, HYCM’s product portfolio is limited to forex and CFDs. Popular asset classes, such as real stocks, are missing. Additionally, HYCM charges a $10 inactivity fee per month after 90 days of inactivity.

How do I get in Contact with HYCM?

HYCM, a leading player in the forex market, is known for its excellent customer service. You can reach out to their dedicated multilingual customer service team that works 24/5. They provide the highest possible level of support for all their clients’ trading needs. For immediate assistance, you can use the Live Chat feature on their website. If you prefer to speak with a representative, you can call their toll-free number: 800 HYCM (4926). Alternatively, you can visit their offices located at 3rd Floor, 28 Throgmorton St, London Ec2N 2An. , or at 47 Spyrou Kyprianou Avenue Mesa Geitonia 4003, Limassol, Cyprus. They also have an office in Dubai at 9th Floor, Liberty House, Dubai International Financial Center. Remember, HYCM is here to help with your forex trading needs.

Where are the Headquarters from HYCM based?

HYCM, a global brand name of Henyep Capital Markets, is a significant player in the forex market. The headquarters of HYCM are located in the financial centre of London, United Kingdom. The exact address is 28 Throgmorton St Fl 3, London, Greater London, EC2N 2AN. In addition to its main office in London, HYCM has a strong global presence with offices in Hong Kong and Cyprus. The Hong Kong office is the Global Group Headquarters, situated in the financial centre of Hong Kong, at 10th Floor, Nine Queens Road Central. The Cyprus office, HYCM Europe, is located at 4th Floor, Noble Centre 47 Spyrou Kyprianou Avenue, 4003, Mesa Geitonia, Limassol. These strategic locations enable HYCM to provide excellent service to its clients across different time zones.

What kind of Customer Support is offered by HYCM?

HYCM is a forex broker that offers a range of trading products and services to its clients. HYCM prides itself on its excellent customer service, which has been recognised both across the industry and by its long-standing clients. HYCM’s customer support team consists of dedicated multilingual professionals who work 24/5, providing the highest possible level of support for all their clients’ trading needs. HYCM’s customer support team can be reached through various channels, such as live chat, phone call, email, and social media. The languages available for customer service are many, with the support of major languages like English, Arabic, and Spanish. HYCM also provides a knowledge base where clients can find answers to their questions and frequently used trading terms. Additionally, HYCM offers educational materials to help clients boost their trading knowledge and learn more about forex trading. HYCM’s customer support team is committed to ensuring that clients have a smooth and enjoyable trading experience with them. Whether clients have a query about opening an account, placing a trade, withdrawing funds, or resolving an issue, HYCM’s customer support team is always ready to assist them with professionalism and courtesy. HYCM’s customer satisfaction rating is high among its clients and peers alike.

Which Educational and Learning Materials are offered by HYCM?

HYCM, a renowned platform for forex trading, offers a comprehensive suite of educational materials that cater to both novice and experienced traders. The platform provides general educational videos that cover a wide range of topics pertinent to forex trading. These videos are designed to impart essential knowledge about the forex market and its dynamics. In addition to these, HYCM also offers platform tutorial videos. These tutorials guide users through the various features and functionalities of the HYCM trading platform, enabling them to navigate and utilize the platform effectively for their trading activities. One of the standout offerings of HYCM is the provision of a demo account. This allows users to practice trading without risking actual money, thereby gaining hands-on experience and understanding of the forex market. Lastly, HYCM provides quality educational texts. These texts delve into the intricacies of forex trading, offering in-depth insights and knowledge. In summary, HYCM’s educational and learning materials, encompassing educational videos, platform tutorials, a demo account, and quality educational texts, provide a holistic learning experience for forex trading.

Does HYCM hedge Positions?

HYCM, a leading provider of contracts-for-difference (CFDs) and forex trading services, has an operational history of over 40 years. The companies under the HYCM Group are regulated in multiple jurisdictions. HYCM offers trading in CFDs on forex, indices, commodities, stocks, and cryptocurrencies. CFDs are derivative securities that allow customers to speculate on the price of an asset without actually holding the instruments in their accounts. As for hedging, MetaTrader 5, one of the platforms offered by HYCM, was improved to support both netting and hedging. This suggests that HYCM does provide the option for traders to hedge their positions in the context of forex trading. However, the specific details of how HYCM implements hedging may vary based on the account type and other factors. Therefore, it’s recommended for traders to review the terms and conditions or consult with HYCM directly for the most accurate information.

Can anyone join HYCM?

HYCM, a well-established, global brand, offers forex and CFD trading. It provides access to global markets with superior trading conditions. The platform is known for its ultra-fast execution of orders, super-tight spreads, and various order types. It also allows hedging and ensures maximum fund security. HYCM offers different types of accounts. The minimum deposit for a standard account is $20. However, for the HYCM Raw Account, a minimum deposit of $200 is required. The platform also provides professional customer support and a wide selection of quality educational tools. It is regulated in multiple jurisdictions, including the top-tier FCA. Therefore, anyone who meets the minimum deposit requirement can join HYCM and start trading. However, it’s always recommended to understand the risks associated with forex trading before getting started.

Who should sign up with HYCM?

HYCM, a well-established global brand, is a suitable choice for individuals interested in forex and CFD trading. The platform is regulated by top-tier authorities, including the FCA. , ensuring a high level of trust and security for its users. HYCM offers low forex and CFD trading fees. , which is beneficial for traders who perform frequent transactions. The account opening process is easy and fully digital. , making it accessible for users regardless of their technical proficiency. HYCM provides a wide selection of quality educational tools. , which can be particularly useful for beginners or those looking to expand their trading knowledge. However, it’s worth noting that HYCM’s product portfolio is limited to forex and CFDs. , and popular asset classes such as real stocks are missing. Therefore, HYCM is best suited for traders who prefer to focus on these specific markets. Additionally, users should be aware of the $10 inactivity fee per month after 90 days of inactivity. In conclusion, HYCM is a reliable and user-friendly platform for forex and CFD trading, but may not be the best fit for those interested in a broader range of asset classes.

Who should NOT sign up with HYCM?

HYCM is a well-established and reputable forex broker that offers a variety of trading instruments, platforms, and educational resources. However, not everyone is suitable for HYCM, and there are some factors that you should consider before signing up with them. Here are some of the reasons why you should NOT sign up with HYCM:. You are looking for a wide range of assets to trade. HYCM only offers forex and CFDs, which means you cannot trade stocks, indices, commodities, or cryptocurrencies with them. If you want to diversify your portfolio and access other markets, HYCM may not be the best choice for you. You prefer a different trading platform than MetaTrader 4 or 5. HYCM uses these two platforms exclusively, which have a slightly outdated design and limited customization options. If you want to use more advanced or user-friendly platforms, such as cTrader, NinjaTrader, or TradingView, you may not find them at HYCM. You are concerned about the inactivity fee. HYCM charges a $10 fee per month after 90 days of inactivity on your account. This means that if you do not trade for three months or more, you will lose your money in your account balance. If you want to avoid this fee, you need to trade regularly and keep your account active. You are not familiar with the regulatory environment of different jurisdictions where HYCM operates. HYCM has entities in the UK (FCA), Cyprus (CySEC), Dubai (DFSA), Cayman Islands (SCB), and Vanuatu (VFSC). However, each jurisdiction has its own rules and regulations regarding forex trading, which may differ from each other. For example, some jurisdictions may impose higher leverage limits or stricter margin requirements than others. If you are not aware of these differences and how they affect your trading experience and risk exposure, you may face unexpected challenges when trading with HYCM. These are some of the main reasons why you should NOT sign up with HYCM if they do not match your preferences and needs as a forex trader. However, this does not mean that HYCM is a bad broker overall. It still has many advantages that make it a reliable and trustworthy partner for many traders around the world. Therefore, before making your final decision, you should weigh the pros and cons carefully and do your own research on HYCM’s services and features.

Does HYCM offer Discounts, Coupons, or Promo Codes?

HYCM, a mid-size forex trading store, does offer discounts, coupons, and promo codes, but very rarely. As of December 2023, there is a promo code that provides a $100 discount. However, it’s worth noting that HYCM is a newer brand when it comes to discount codes and promotion searches, with fewer shoppers actively searching for HYCM offer codes and deals each month. Despite this, there are active coupon codes for HYCM in December 2023. Additionally, deals are available on partner sites like eBay, Walmart, and Macy’s, offering up to 30% and 20% off on HYCM items. It’s recommended to check sites like Dealspotr, Valuecom, and CouponAnnie for the latest and greatest HYCM discounts and promo codes.

Which Account Types are offered by HYCM?

HYCM, a multi-regulated Forex and CFD provider, offers three different live trading accounts for forex trading. These are the Fixed, Classic, and Raw accounts. The Fixed account is designed for traders who prefer trading with fixed spreads. The Classic account is suitable for experienced traders and offers flexible spreads. The Raw account is designed for advanced traders, offering raw spreads and a commission per trade. In addition to these, HYCM also provides Islamic account options and a risk-free demo account. The available trading platforms are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and the maximum available leverage is 500:1. It’s important to note that the choice of account type should be based on the trader’s knowledge and experience of trading CFD and/or Forex products.

How to Open a HYCM LIVE Account?

Opening a HYCM LIVE account is a straightforward process. First, visit the HYCM website or use the HYCM Mobile application. Enter your email address and phone number. Provide your name and select your country of residence. Fill in your street name, city, and postal code. HYCM offers a variety of trading accounts including Fixed, Classic, and Raw to match every trading style and all levels of experience. Special accounts are also available for VIP and Corporate clients who actively trade larger volumes. Once you have completed these steps, your live account must be approved before you can start trading.

How to Open a HYCM DEMO account?

A HYCM demo account is a great way to practice your forex trading skills and strategies without risking any real money. A demo account allows you to trade with virtual funds that are equivalent to $50,000 in the HYCM platform. You can open a demo account with HYCM in a few simple steps:. First, you need to visit the HYCM website and fill out the registration form with your personal and contact details. You will also need to verify your identity and address by uploading some documents, such as your passport, driver’s license, or utility bill. Next, you need to log in to your Client Portal and go to the Trading Account section. There, you will find the option to Create Demo Account. You can choose to open a demo account on the MetaTrader 4 platform in either USD or EUR currencies. Finally, you need to customize your demo account settings, such as the leverage, margin, stop loss, take profit, and time frame. You can also access various tools and resources on the HYCM website, such as market analysis, trading signals, webinars, and educational materials. By following these steps, you can open a HYCM demo account in no time and start trading with confidence. A HYCM demo account is valid for 14 days and can be funded at any time. You can also switch between different currency pairs and instruments on your demo account. A HYCM demo account is a valuable tool for forex traders of all levels who want to improve their skills and knowledge before investing real money. For more information about how to open a HYCM demo account, you can visit the following links:. [How do I open a demo account? – HYCM]. How do I open my first demo account? – HYCM. HYCM Demo Account: Opening & Key Information (2023) - InvestinGoal.

If I violate the Trading Objectives of HYCM do I get a second chance?

HYCM, a leading provider of contracts-for-difference (CFDs) and forex trading services, is known for its transparency and fair trading practices. However, it’s important to note that trading with HYCM involves a high degree of risk. Violating the Trading Objectives could lead to substantial losses. It’s unclear whether HYCM provides a second chance for those who violate the Trading Objectives. It’s recommended to carefully consider whether this activity is appropriate for your needs, financial resources, and personal circumstances. Always ensure you read through HYCM’s terms and conditions of use carefully before investing. Remember, your capital is at risk.

How Are You Protected as a Client at HYCM?

HYCM is a well-established, global brand that provides forex and CFD trading services to its clients. As a client of HYCM, you can enjoy the following benefits in the context of forex:. Regulation: HYCM is regulated by top-tier authorities in different jurisdictions, such as the FCA in the UK, CySEC in Cyprus, and the DFSA in Dubai. This means that your funds are protected by strict rules and regulations that ensure fair and transparent trading practices. HYCM also complies with the MiFID directive, which enhances investor protection and market integrity. Negative balance protection: HYCM offers negative balance protection to all clients unless otherwise stated. This means that if your account balance falls below zero due to market movements, HYCM will cover the losses up to a certain limit. The limit depends on the type of account you have with HYCM. For example, for standard accounts, the limit is £85,000 for UK clients and €20,000 for EU clients. Financial Services Compensation Scheme (FSCS): The FSCS is a UK government scheme that compensates eligible depositors up to £85,000 per person per institution if a financial service provider fails. This means that if HYCM becomes insolvent or unable to pay its obligations, you can claim compensation from the FSCS as long as you meet the eligibility criteria. Investors Compensation Fund (ICF): The ICF is an EU scheme that compensates eligible investors up to €20,000 per person per institution if a financial service provider fails. This means that if HYCM becomes insolvent or unable to pay its obligations in an EU member state, you can claim compensation from the ICF as long as you meet the eligibility criteria. Segregated accounts: HYCM maintains segregated accounts for each client’s funds and assets. This means that your funds are kept separate from those of other clients and from the company’s own funds. Segregated accounts also prevent money laundering and fraud. Educational resources: HYCM provides a wide range of educational resources for its clients, such as articles, videos, webinars, ebooks, glossaries, and FAQs. These resources cover various topics related to forex trading, such as market analysis, technical indicators, risk management, trading strategies, and more. You can access these resources on HYCM’s website or through their mobile app. These are some of the ways that HYCM protects its clients as a forex trader. By choosing HYCM as your broker partner, you can benefit from their experience and.

What are HYCM AML ID requirements?

HYCM, a multi-regulated Forex and CFD provider. , has a clear process for verifying the identity of its clients, in line with Anti-Money Laundering (AML) regulations. The first step is to complete a 3-step registration where clients fill in their personal data, choose an account type, and set their password. After registration, clients need to complete a Financial Profile. This is to ensure full financial transparency and to verify that CFD trading is suitable for all HYCM clients. The next step is to verify the client’s identity and residential address. This is typically done by uploading relevant documents. The specific documents required for verification are not listed in a precise, uniform, and prescriptive manner. However, if the person to be identified is a natural person subject to a face-to-face identification, the National Bank of Belgium (NBB) recommends that their identity generally be verified using valid official identity documents such as their identity card or, where appropriate, their passport. It’s important to note that the level of certainty required as to the identity of the persons involved is to be determined according to the risk level identified in the case concerned.

Which Deposit and Withdrawal options are available at HYCM?

HYCM offers a variety of deposit and withdrawal options for its clients. These include traditional methods such as bank transfer and credit card funding, as well as various e-wallets. Specifically, clients can make deposits and withdrawals via credit/debit cards (Visa or Mastercard), wire transfer, Skrill, and WebMoney. HYCM also accepts deposits in KWD, SAR, and AED, which will be converted to USD for trading. To make a withdrawal, clients need to access their Client Portal, then click on Banking followed by Withdraw Funds. For withdrawals via wire transfer of less than US$300, a handling fee of US$30 will be charged. HYCM prides itself on its efficient fund withdrawal policies, which are designed with client security in mind.

Which Funding methods or Deposit Options are available at HYCM?

HYCM offers a variety of methods for funding your account. You can make a deposit via debit/credit card (Visa or Mastercard), Skrill, Neteller, China Union Pay, Interac or wire transfer, depending on your region. For Visa or Mastercard deposits, HYCM will require a copy of the front of the credit card used to fund your account. HYCM also accepts virtual cards and will require the number of your card, the expiry date and proof confirming that you are the owner of the card. Please note that HYCM does not accept 3rd party deposits. The minimum deposit required to start trading is $100.

What is the Minimum Deposit Amount at HYCM?

HYCM, a popular broker for currency trading, requires a minimum deposit to start trading. The minimum deposit amount required to start a real trading account with HYCM is 100 (one hundred) US Dollars (or equivalent). However, the minimum deposit required for first-time traders may differ depending on the chosen trading type of account. The activation of a deposit can take up to 72 hours. HYCM provides several options for filling your account and promotes openness and fair trading standards throughout the account financing and withdrawal procedures. It’s important to note that HYCM does not charge a fee for making a deposit. The average time for transfer using different payment methods is usually two to three business days if using wire transfer, then instantly or a few hours if using a debit or credit card.

Which Withdrawal methods are available at HYCM?

According to the web search results, HYCM offers multiple options for withdrawing money from your forex account. These options are:. Bank transfer: You can withdraw funds via wire transfer to your bank account, which should be in the same name as the account maintained on record with HYCM. For withdrawals via wire transfer of less than US$300, a handling fee of US$30 will be charged. Credit/debit cards: You can withdraw funds via credit or debit cards (Visa or Mastercard) to your card account. There is no fee for this option. Electronic wallets: You can withdraw funds via Skrill, Neteller, or WebMoney to your electronic wallet account. There is no fee for this option either. To provide us with your bank details, please access your Client Portal, then click on Banking followed by Bank Details. To make a withdrawal, please access your Client Portal, then click on Banking followed by Withdraw Funds. HYCM is a global forex and CFD broker regulated by many financial authorities globally, including the top-tier FCA. It prides itself in its efficient fund withdrawal policies and its security measures. Your funds will be transferred back to the original source that you used to fund your account. If you have any other questions about forex trading or HYCM, please feel free to ask me. ?.

How can I Withdraw Money from HYCM Step by Step?

Withdrawing money from HYCM is a straightforward process. Here are the steps you need to follow:. Login to your HYCM account. If you don’t have an account, you’ll need to create one first. Once logged in, navigate to the Client Portal. In the Client Portal, click on Banking. Under Banking, select Bank Details to provide your bank details. After providing your bank details, go back to Banking and click on Withdraw Funds. Please note that your funds will be transferred back to the original source that you used to fund your account. Profits can be withdrawn via wire transfer only and will be transferred to your bank account which should be in the same name as the account maintained on record with HYCM. For withdrawals via wire transfer of less than US$300, a handling fee of US$30 will be charged. It’s important to remember that HYCM is a global forex and CFD broker regulated by many financial authorities globally, including the top-tier FCA. This means that your money is in good hands and you will be able to withdraw your funds. The withdrawal process is usually executed within >3 days. However, keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. At HYCM, you have multiple options to choose from when you would like to withdraw money. These options are the following: Bank transfer, Credit/debit cards, Skrill, Neteller, WebMoney. Remember, you can only withdraw funds to accounts that are in your name.

Does HYCM Payout?

HYCM, a well-established global brand providing forex and CFD trading. , is regulated by the top-tier FCA in the UK. It has a clean track record with no major regulatory incidents or fines. HYCM offers low forex and CFD trading fees. However, it charges a $10 inactivity fee per month after 90 days of inactivity. The broker uses MetaTrader trading platforms. It provides a wide selection of quality educational tools. and the account opening is easy and fully digital. HYCM’s product portfolio is limited to forex and CFDs. Popular asset classes, such as real stocks, are missing. As for the payout, HYCM’s clients are able to make deposits and withdrawals via credit/debit cards (Visa or Mastercard), wire transfer, Skrill, and WebMoney. Card payments, including Visa and MasterCard, are processed within an hour, offering nearly instant deposits.

Which Fees are charged by HYCM?

HYCM, a global forex and CFD broker, charges its clients based on the sector bid/ask spread. The spreads traders pay are determined by the underlying financial instrument and account type. The firm reserves the right to increase or decrease spreads with little or no notice, depending on market conditions. HYCM offers commission-free trading with the Fixed and Classic account types, but the spreads are higher. Fixed spreads of 1.8 pips are available on the Fixed account, whereas the Classic account has a minimum (variable) spread of 1.2 pips. The Raw account has a relatively competitive price structure (spreads), with a minimum spread cost of 0.2 pips and a 4 USD charge for each round lot. According to research, HYCM charges very cheap CFD and FX trading fees; in most circumstances, clients are not charged any deposit or withdrawal fees, except in some cases where a specified amount of withdrawal fees applies. Retail forex traders are charged a $30 withdrawal fee on bank wire transfers under $300.

What can I trade with HYCM?

HYCM, a leading provider of contracts-for-difference (CFDs) and forex trading services, offers a large asset range for trading. Clients can gain exposure to a variety of assets, including currencies, commodities, metals, shares, and indices. This allows traders to develop a diverse portfolio from a single integrated account. In addition to forex, HYCM also offers trading in CFDs on indices, commodities, stocks, and cryptocurrencies. The firm expanded its CFD offering to include exchange-traded funds (ETFs) in February 2020. However, product availability may depend on the country you’re in or the type of account you’re holding. It’s worth noting that unlike most other brokers, HYCM clients can seamlessly trade exchange-traded funds with the broker with a maximum leverage of 1:20.

Which Trading Platforms are offered by HYCM?

HYCM, a multi-regulated forex and CFD provider, offers several trading platforms for its users. The first platform is their in-house web-based PrimeTrader. This platform is a new multi-asset web platform with a user-friendly interface. It provides integrated multiple pricing, advanced charts, and complete online account management. The second and third platforms offered by HYCM are the renowned MetaTrader 4 and its successor, the MetaTrader 5. These platforms are the most widely used electronic trading platforms and have been adopted as the financial market standard thanks to their cutting-edge technology and suitability for traders of all skill levels. In conclusion, HYCM offers a range of platforms to cater to the diverse needs of forex traders, from their proprietary PrimeTrader to the widely recognized MetaTrader series.

Which Trading Instruments are offered by HYCM?

HYCM is a well-established online broker that offers a wide range of trading instruments in the forex and CFD markets. HYCM allows clients to gain exposure to a range of assets including currencies, commodities, metals, shares and indices allowing you to develop a diverse portfolio from a single integrated account. Some of the most popular trading instruments offered by HYCM are:. Forex: HYCM offers over 40 currency pairs to trade, including major, minor and exotic pairs. You can also trade with cryptocurrencies such as Bitcoin, Ethereum and Litecoin through HYCM’s cryptocurrency CFDs. Indices: HYCM provides access to over 20 global indices, such as the S&P 500, FTSE 100, DAX 30 and Nikkei 225. You can trade these indices with low spreads and high leverage. Commodities: HYCM allows you to trade over 10 commodities, such as gold, silver, oil and natural gas. You can benefit from the price movements of these commodities with flexible contract sizes and leverage options. Metals: HYCM lets you trade over 5 metals, such as platinum, palladium, copper and zinc. You can diversify your portfolio with these precious metals that have high liquidity and volatility. Shares: HYCM enables you to trade over 1,000 shares from some of the world’s leading companies. You can choose from different market segments such as US stocks, UK stocks, European stocks and Asian stocks. HYCM also offers other products such as ETFs (exchange-traded funds), bonds and options for more advanced traders who want to explore different asset classes. HYCM is regulated by multiple authorities in different jurisdictions, such as the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (FSA). This means that your funds are protected by strict rules and regulations that ensure fair trading practices. If you are interested in trading with HYCM, you can open an account online in minutes with a minimum deposit of $20. You can choose from different account types depending on your trading style and preferences. You can also enjoy various benefits such as negative balance protection, ultra-fast execution of orders, professional customer support and many payment methods. HYCM is a trusted broker that has been in the industry for over 40 years. It has won numerous awards for its excellence in service quality.

Which Trading Servers are offered by HYCM?

HYCM, a multi-regulated Forex and CFD provider, offers a variety of trading platforms to its users. These platforms include HYCM Trader, Web Trader, MetaTrader 4, and MetaTrader 5. The HYCM Trader is available on Android/iOS and allows users to access and manage all their accounts, discover new opportunities, and trade a range of over 300 instruments directly from their phone. The HYCM trading platform is designed to meet the rigorous security standards of international financial and banking institutions. All connections and data communication between the trading client and HYCM servers are encrypted and secured with dynamically generated 128-bit keys, which is the standard for banking operations. HYCM’s server is located in London. This location ensures low latency, which is crucial for high-speed trading. For instance, the latency from London to New York is approximately 71.74 ms. In conclusion, HYCM provides a secure and efficient trading environment with its advanced trading platforms and strategically located server. This setup allows traders to execute their trades with speed and security, which are paramount in the fast-paced world of Forex trading.

Which are the Base Currencies supported by HYCM?

HYCM, a renowned forex trading platform, supports a range of base currencies for its clients. These include the United States Dollar (USD), Euro (EUR), British Pound (GBP), United Arab Emirates Dirham (AED), and Canadian Dollar (CAD). It’s important to note that the choice of base currency can have implications for forex traders. The base currency is the first currency in a currency pair. It compares the value of the base currency to the second currency in the pair. For instance, if a trader chooses USD as their base currency, they are essentially measuring the value of other currencies against the USD. This choice can impact potential profits and losses in forex trading. It’s also worth mentioning that HYCM requires a minimum deposit of $100 to start trading. This makes it accessible for individuals who are new to forex trading or those who prefer to start with a smaller investment. In conclusion, the choice of base currency is a crucial aspect of forex trading. HYCM’s support for multiple base currencies provides its clients with flexibility and caters to a global clientele.

Can I trade Crypto with HYCM? Which crypto currencies are supported by HYCM?

Yes, HYCM is a great platform for trading crypto CFDs. It offers an impressive 29 different crypto CFDs. At HYCM, you can long and short cryptos as CFDs and also use leverage. This means you don’t actually own the cryptocurrencies you want to trade (like Bitcoin or Ethereum); you merely make bets on the price movements of these assets. This is similar to other types of CFDs, which all have their own underlying product, such as stock CFDs or commodity CFDs. Another advantage of crypto CFDs is the ability to short-sell the underlying cryptocurrency. Shorting means betting on the price of the underlying asset to fall. When buying a “real” crypto coin, you can only make a profit if its price increases; this is called a long position. By contrast, the ability to short allows you to profit from a decrease in the price of the underlying coin. However, please note that cryptocurrencies are not available for trading under HYCM (Europe) Ltd and HYCM Capital Markets (UK) Limited. Also, HYCM offers Bitcoin trading with BTC/USD now part of its expanding list of trading instruments. In conclusion, HYCM is a regulated CFD and forex broker, providing traders with an extensive suite of instruments (asset classes) to trade, including forex pairs, stocks, indices CFD, cryptocurrencies CFD, and ETFs. It’s a trustworthy broker with over 40 years in the business. But as always, clients should do their own research regarding regulation before selecting online brokers like this.

What is the Leverage on my HYCM Trading Account?

Leverage is a financial tool that allows traders to control larger trade sizes with relatively small amounts of capital. It is expressed as a ratio, such as 1:10, 1:50, or 1:200, which means that for every $1 of margin in the account, the trader can trade up to $10, $50, or $200 respectively. Leverage can magnify both the potential returns and losses of a trade, so it is important to use it wisely and with proper risk management. HYCM is a global online broker that offers various trading platforms and products, including forex trading. HYCM provides different leverage levels for its clients depending on the account type and the instrument traded. According to the web search results. , some of the leverage levels offered by HYCM are:. For fixed accounts, which have fixed spreads and commissions, the leverage level is 1:500 for forex trading. For classic accounts, which have variable spreads and commissions based on market conditions, the leverage level is also 1:500 for forex trading. For raw accounts, which have low spreads and commissions starting from 0 pips on selected currency pairs. , the leverage level is 1:200 for forex trading. For exchange-traded funds (ETFs), which are traded on stock exchanges like shares. , the leverage level is 1:20 for HYCM clients. To calculate how much margin you need to open a trade with a certain leverage level and position size, you can use this formula:. Margin=PositionSize×Leverage. For example, if you want to open a forex trade with a position size of 0.01 lots (10,000 units) at 1:500 leverage level with HYCM’s fixed account type, you need to have at least:. Margin=0.01×500=5. This means that you need to have at least $5 in your account before you can proceed with the trade. I hope this answer helps you understand what leverage is and how it works with HYCM’s trading accounts. ?.

How can I change the Leverage on my HYCM Trading Account?

Leverage in forex trading is a tool that allows traders to open positions much larger than their own capital. The leverage amount is provided by the broker and is expressed as a ratio, such as 1:10, 1:50, 1:100, or 1:200. For example, with a leverage of 1:50, you can trade up to $50,000 with just $1,000 of margin available in your account. However, trading with high leverage can also increase the risk of losses. At HYCM, the leverage is set depending on the account type and the regulatory jurisdiction. For instance, the leverage for EU and UK clients is fixed at 1:20 for US stock indices and at 1:30 for major forex pairs. On the other hand, for all three account types, the leverage is set to 1:500. Unfortunately, at HYCM, clients cannot change leverage levels. This could be a drawback for some traders, especially those who want to lower the risk of their trade. Therefore, it’s important to understand the implications of leverage and use it responsibly.

What kind of Spreads are offered by HYCM?

HYCM is a forex broker that offers different types of spreads depending on the account type and trading platform. According to the web search results, here are some of the main features of HYCM spreads:. Fixed spreads: These are spreads that do not change regardless of market conditions. They are usually higher than variable spreads, but they offer more stability and predictability. Fixed spreads on HYCM are 1.8 pips on EUR/USD. Variable spreads: These are spreads that fluctuate according to market volatility and liquidity. They are usually lower than fixed spreads, but they also involve more risk and uncertainty. Variable spreads on HYCM start from 0.1 pips on EUR/USD. Raw spread: This is a combination of a fixed spread and a commission fee per lot traded. It is usually the lowest and most attractive option for traders who want to minimize their trading costs, but it also requires a higher minimum deposit and trading volume. Raw spread on HYCM is $4 USD per lot plus $0.01 USD per share. To summarize, HYCM offers competitive and flexible spreads for forex trading, depending on the account type and trading platform chosen by the trader. For more information, you can visit their official website or read some of the reviews from the web search results. I hope this answer was helpful for you ?.

Does HYCM offer MAM Accounts or PAMM Accounts?

According to the web search results, HYCM does not offer MAM or PAMM accounts. MAM and PAMM are two types of managed accounts that allow fund managers to trade on behalf of investors and share the profits and losses proportionally. MAM stands for Multi-Account Manager, which gives the manager more flexibility to allocate trades and adjust the risk of each sub-account based on the clients’ profiles. PAMM stands for Percentage Allocation Management Module, which distributes the trades according to a fixed percentage of each sub-account’s equity. Both types of accounts require a separate master account that is fully segregated from the investors’ funds. HYCM is a forex broker that offers various trading platforms, such as MetaTrader 4, MetaTrader 5, and HYCM Pro. However, none of these platforms support MAM or PAMM accounts. HYCM also offers other types of managed accounts, such as STP/ECN No Commission accounts and STP/ECN Zero Spread accounts, but these are not managed by fund managers. Instead, they are executed by HYCM’s own liquidity providers. If you are looking for a broker that offers MAM or PAMM accounts, you may want to check out some of the other options listed in the web search results. However, before you decide to invest with any broker or fund manager, you should do your own research and due diligence. You should also be aware of the risks involved in trading forex and investing in managed accounts. Forex trading is highly volatile and speculative, and you may lose more than your initial investment. Managed accounts are not regulated by any authority and may charge high fees or commissions. You should only invest what you can afford to lose and seek professional advice if necessary. I hope this answer was helpful and informative for you. If you have any other questions about forex trading or investing, please feel free to ask me. I am always happy to chat with you ?.

Does HYCM allow Expert Advisors?

Yes, HYCM does allow the use of Expert Advisors (EAs). EAs are essentially robots which automatically place trades for you. They are a form of automated trading and one of the strongest features of MetaTrader 4. EAs are useful for traders who trade a number of currency pairs and those who are too busy to trade frequently. They continue to look for trading opportunities on a trader’s behalf even when they are away from their computer. To set up an EA, you need to create or download an EA, copy the files from the location where you saved it, locate the MT4 folder on your computer, look for the Experts folder, open this folder and paste the EA files. Please note that MT4 does not allow two EAs to be attached to the same chart although you can run more than a hundred EAs on the same trading terminal.

Does HYCM offer Copytrading?

HYCM, an award-winning international broker, is known for its low minimum deposit, competitive spreads, and being well-regulated. However, it appears there is some discrepancy regarding the availability of copy trading services at HYCM. According to one source. , HYCM does not offer a direct service of copy trading. This could be disappointing for some traders who are looking to benefit from the strategies and successes of other experienced traders. However, it’s worth noting that the MetaTrader platforms (MT4 and MT5), which are supported by HYCM, do offer the feature of auto trading using signals. Contrarily, another source. suggests that HYCM does allow traders to use copy trading and social trading features as part of their trading strategies. It’s described as a portfolio management approach in which one tracks the performance of another trader by copying his or her moves. Given this conflicting information, it would be advisable for potential traders to directly contact HYCM for the most accurate and up-to-date information regarding the availability of copy trading services. It’s always important to thoroughly research and understand the features and services of any broker before deciding to invest. Please note that while copy trading can be a useful tool for beginners to learn from experienced traders, it also carries risks. It’s crucial to remember that past performance is not indicative of future results, and all trading involves risk. It’s recommended to only invest funds that one can afford to lose.