Find Out All You Need to Know in Our HYCM Broker Review
25% Welcome bonusUp to $5000 Deposit BonusFree WebinarsTrade Now!
HY Markets have been re-branded with a new name – HYCM. With a base in the city of London, within the UK, this broker is licensed and is regulated by the UK’s regulatory body, the Financial Conduct Authority or FCA for the trader’s peace of mind. Forming one arm of the international Henyep Group, HYCM benefit from over 30 years of financial industry experience as part of a global conglomerate. Investors can be assured that HYCM are both reliable and trustworthy, as a broker that offer a great choice of tradable assets to both novice and more experienced traders. Whether you prefer commodities, stocks or currencies, you can be sure that HYCM will offer something to suit your preferences. There is even an area of their website which is devoted to the education of beginner traders packed with helpful articles and tutorials to enable advancement of skills. If you need to know more about brokers in order to make a decision about which is the ideal one for you, our HYCM review will give you all the information you require.
Assets and Trading Platforms Available From HYCM
HYCM do not offer just one trading platform option to their investors, but three to suit all needs. Their most popular and perhaps best known is the market leader, MetaTrader 4, which is well known for its user friendly trading interface and clear visual approach. This software is suited to both new and experienced traders making it a good choice for everyone. There are many benefits to selecting this interface including the Expert Advisor option which allows for automated trades to be executed on the investor’s behalf. There are plenty of technical charts and trading tools to improve the trading experience as well as an updated live stream of financial information to help investors to make the right choices when selecting trades. However, the MetaTrader platform is not the only one offered by HYCM. They also have their PrimeTrader flagship trading platform too. This has its own advantages including multi-asset capabilities, the option to choose prices that are individualised according to requirements and advancing analytical charting facilities. The third available platform is their mobile interface which is compatible with most devices that run either the Apple or Android operating systems. By using this platform, traders can enjoy access to all of their account functions and can execute trades wherever they are. There are plenty of tradable assets on offer from HYCM with up to 120 to select from depending on account type. Leverages also vary depending on account and can extend from 50:1 up to 400:1. Thanks to this broker’s partnership which has been forged with Pro Daily, account holders can enjoy the most cutting edge trading signals, or for those selecting MetaTrader as their interface, there is also the option of selecting add-on trading signals that are free.
HYCM’s Account Types and Their Customer Service Options
Clients can select from one of three different account types to find one that meets their experience level. The most basic level account, HYCM’s Micro trading account, is geared towards the requirements of novices as it requires just a $100 deposit to open. This account allows traders to choose from 50 different asset types and they can benefit from leverages of up to 1:500. There is a minimum fixed spread which is 1.8 on this account type. Anyone with more experience and who is prepared to invest a little more in order to open an account can place $1000 of funds to open a Standard account which benefits from the full selection of 120 assets as well as spreads of 1.5 and leverages that extend to 1:300. The most advanced traders of all will be able to deposit a minimum of $10,000 in order to be eligible for HYCM’s VIP high level account. Whichever type of account you select, you can still benefit from access to the mobile trading platform and all three account types are available in an Islamic version for those who require one. Contact with the customer support team is convenient and simple, with the customer contact team being available to respond to enquiries between Sunday 23:00 GMT and Friday 21:00 GMT. Whether you prefer to put your question in writing to a postal address, send it to one of the 5 different email addresses to be found on the HYCM website or whether you prefer to speak to someone over the telephone, all of these are possible during opening hours. Those who like fast responses can even use the live chat option available on the HYCM website 24 hours a day between Monday and Friday.
HYCM’s Banking Options and Educational Resources on Offer
Many brokers are now offering educational resources to their clients and HYCM do not disappoint, with a plethora of articles, videos and tutorials covering a broad spectrum of financial topics. Those who are just starting out with trading can discover the basics here while even those with more experience are sure to find useful information about more advanced techniques for charting and analysis. HYCM have aimed to make depositing and withdrawing funds into trading accounts as simple and convenient as possible by offering a choice of methods. Whether you prefer to use a credit card or a bank transfer or something more modern like WebMoney or UnionPay, all of these bases are covered. Those who don’t mind waiting up to 5 days to see cleared funds in their trading account will be happy to use the wire transfer method, but those looking for an instant start to trading can use any of the other available methods for immediate processing. There are many currencies accepted by HYCM from AED, USD and EUR to RMB, KWD and SAR. It is also simple to withdraw money back to the same method with which funds were deposited. WebMoney, Union Pay and credit cards enable funds to be received and cleared in seven days, but a bank transfer withdrawal can be processed in a shorter time of 5 days or under. HYCM charge no fee on any withdrawal unless it is executed via wire transfer and is for a sum of under $300.
HYCM are a reputable and trustworthy broker that benefits from FCA regulation. This makes it an excellent choice for experienced or novice traders who need a broker that offers a user friendly choice of platforms and a range of suitable account types to meet their needs.
Get up to $5000 welcome bonus from HYCM Now!