HYCM (HY MARKETS) is a good choice for Forex beginners and Forex advanced traders, but not for Forex scalpers. The great advantage when trading with HYCM is reliability and the absolute safety of invested capital.
RATING FORMULA 5.0 SCORE
According to the Forex Rating Formula v5.0, HYCM has performed 72.1%.
You can find the full Rating Review here: ► HYCM Full Rating Review
|HYCM RATING SUMMARY|
|1. Safety of Trading Funds||28.00||27.82||99.4%|
|2. Cost of Trading||28.00||12.00||42.9%|
|3. Trading Options||28.00||19.75||70.5%|
|4. Trading Technology||16.00||12.50||78.1%|
|Overall HYCM Rating||100.00||72.08||72.1%|
|TRADING STYLE||SCORE (%)|
HYCM FOR INTRADAY TRADING
HYCM FOR SWING TRADING
HYCM FOR CARRY TRADING
HYCM COMPANY INFORMATION
■ Broker Type: STP Forex Broker offering CFD Trading
■ Years in the Market: HYCM Foundation in 1999
■ HYCM Main Offices: Main offices in London UK, other offices in the Middle East and Asia
■ US Traders: Not allowed by HYCM –NO-
■ Islamic Accounts: HYCM provides Islamic accounts –YES-
■ HYCM Regulation: HYCM is regulated by FCA UK, MiFID (EU)
■ HYCM Customer Service: Fast 24/5 service via Live Chat, Phone, and eMail
■ HYCM Languages: Multilingual Support: English, Arabic, Chinese, and Rusian
HYCM TRADING INFORMATION
■ Forex Execution: STP Execution (GMT server time)
■ Other Instruments: Precious Metals and CFDs (Indices, Stocks, Commodities, Energy)
■ HYCM Asset Index: HYCM offers 32 Fx Currencies plus other financial assets via CFD contracts
■ Spread on EUR/USD: The minimum spread on EUR/USD at Pro Accounts starts at 0.5 pip but in other account types starts at 1.8 pips
■ HYCM Trading Commissions: No commissions on all basic account types. Trading commissions charged only in Pro accounts where the spreads are considerably narrow.
HYCM TRADING PLATFORMS
HYCM is offering a very good variety of Trading Platforms that include desktop and mobile trading:
■ HY MetaTrader-4 plus MetaTrader-4 Web
■ HY Web-Trader
■ HY Pro Trader CurreneX
■ Mobile Trading for iPhone and Android
■ Demo account is available
■ Automated Trading and Hedging are available
■ Other features One-Click-Trading, Free Analysis
HYCM ACCOUNT INFO
■ Leverage: Leverage at HYCM up to 300:1 for most account types (200:1 Pro Accounts)
■ Hedging / Scalping: Scalping is forbidden, Hedging is allowed
■ Automated Trading: –YES-
■ Bonus: HYCM offers Welcome Bonus 10% (any amount)
■ Minimum Account: The minimum account is just 50 USD.
■ Deposit Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, PayPal
■ Withdrawal Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, PayPal
HYCM ACCOUNT TYPES AND INFORMATION
|(1) Mini Account Type||(2) Standard Account||(3) Premium Account||(4) Pro Account|
|750 USD||2,500 USD||5,000 USD|
|COMMENTS||Mini accounts are suitable for beginners.||Standard Accounts are suitable for the average trader.||Premium accounts offer advanced trading tools and VIP customer service.||
Pro accounts offer interbank pricing via global banks and trading spreads starting as low as 0.5 pip.
Straight through processing (STP) execution and Currenex Pro Trader platform.
|► OPEN AN ACCOUNT WITH HYCM.COM|
HYCM TRADING REBATE BY FOREX-REBATES.COM
■ The rebate is paid once a week
■ The rebate is $6.0 per full traded lot
■ The rebate is 100% free of any charge (you never pay for your participation)
■ You can additionally claim your welcome bonus or any other promotion (no conflict with the rebate)
■ The rebate can be paid either via Paypal or via MoneyBookers Skrill
Joining this great HYCM rebate plan is very easy. Just open an account via this rebate link and then contact us for confirmation:
(1) Open account via the ► Rebate Link
REVIEWING HYCM CONCLUSION & RATING
HYCM is a popular retail STP Forex broker owned by Henyep Group, a financial group founded back in 1978. The firm is based in London UK but maintains also offices in UAE and Hong-Kong. HYCM is regulated by the FCA UK and by the European MiFID. In addition, it offers segregated bank clients accounts in major UK banks. Overall, the broker offers high safety of trading funds.
HYCM offers 32 currency pairs plus stocks, commodities, metals, and energy via the use of CFD contracts. As concerns the available trading platforms, HYCM offers 4 desktop platforms plus 2 mobile traders. HY WebTrader is a web-based platform and it is the ideal choice for beginners. HY WebTrader is a friendly application providing direct order execution, live tradable charts, and basic charting and technical analysis tools. There are also two versions of MetaTrader4 available plus the Pro Currenex Trader which is the ideal choice for Forex Professional traders. The broker allows automated trading and hedging but not scalping.
Cost of Trading
HYCM offers fair trading conditions especially as concerns the Pro Account Type. The Pro Account offers spreads starting at 0.5 pips (EURUSD) by charging also some trading commissions. In all other account types, there are no commissions charged and the spreads start at 1.8 pips (EURUSD).
HYCM Account Types
HYCM provides a great variety of different account types. First of all, traders can test their skills by opening a demo account. As concerns Real Account Types there are four (4) basic types (Mini, Standard, Premium, and Pro Accounts). Each type is tailored to suit the needs of different customers. The Mini account can be opened with just $50 and the lot size is 0.02. The Standard Account type can be opened for $750 and offers lot size 0.1. The Premium Account can be opened with $2500 and the Pro Account Type which offers Currenex and attractive spreads can be opened with $5,000. The maximum leverage is 300:1 for all account types except the Pro Account where the maximum leverage is 200:1.
HYCM Customer Service
HYCM offers a fast 24/5 customer service including live chat, email, and phone support. They have also added the Personal Dealer Service which offers a personal advisor.
Depositing Funds and Welcome Bonus
HYCM supports Visa, MasterCard, Bank Wire, PayPal, WebMoney, and MoneyBookers for both deposits and withdrawals. The welcome bonus policy is currently 10% of the initial deposited and applicable to any amount.
HYCM -Final Conclusion
The great advantage when trading with HYCM is the reliability and safety of trading capital. Their level of technical efficiency is very high while they offer many options for Forex traders. Their trading terms are fair, especially as concerns the Pro Accounts. The only con when trading with HYCM is the prohibition of scalping which may be a problem for some types of day-traders.
■ Reviewing HYCM -is HYCM.com a Scam?