The traders who work with this broker have lots of trading opportunities like stocks, cryptos, indicies, commodities and so on. Not all of the brokers nowadays can boast such huge number of available assets. More often than not, the brokers which work with forex, don't have access to cryptos, despite of the fact that this financial instrument is extremely promising nowadays.
I was looking for a regulated broker with fixed spreads and fortunately I found it. That was HYCM. Except for fixed spreads I can't tell anything special about the broker. Since it's regulated it ensures a trouble-free trading process and pays out earnings once I request them. That's all and that's how it should be.
You are the money maker if you know how to trade with profits! Trading with hycm gives me much of confidence to trade with discipline and correct management. Their market analyze helping me so many times, because sometime u dont have much time for preparation to trading session. My fav tools are usd/jpy + metatrader 5 + bearish/bullish indicator + expert advisor.
Trade by your own head
I want to write about MT 4 and MT 5 trading platforms that HYCM offers. Yes, the broker is great, but honestly, I don't understand why the broker offers the fourth version.
MT5 is superior to MT4 in every way. It has enough features that MT4 doesn't have. For example, custom symbols and tick history. MT5 has become very unpopular among traders because initially it didn't have locks. But recently they have appeared in the terminal. So there is no reason to stay on MT4. In my opinion, a switch to MT5 is inevitable. There are almost no new functions added to MT 4, and MT 5 is actively developing. Its developers pleasantly surprise time after time.
Although the spreads for the fixed spread accounts aren't the best, I think there are only a few trading platforms designed as well as the hycm platform. The platform has everything in one place and, at the same time, is not clustered. Available on the dashboard, I have access to the webinars and workshops, which are frequently updated, tools for analysis, calculator, news, and calendars. The design is so effective and functional that nothing is difficult to find.
Withdrawals of the broker is the first feature that I pay attention to. Hycm withdrawals are not only swift to execute, but also free of charge. I got used to the fact that you have to pay either for faster processing or for convenience. Not with hycm, I guess.
I wanted to try trading with HYCM for a long time. But since I had another brokerage a year ago, I did hesitate. But after a while I realized that with my old broker I wasn't growing as a trader and decided to move on. That's how I started trading with HYCM. At first it was a little unusual to trade with another brokerage, but I got used to it very quickly. HYCM has quite good trading conditions, although to be honest at the beginning it was a bit difficult for me to choose my future account type. They are quite diverse, and I totally wanted to choose the most advantageous one for me) Now I'm trading on a Classic account, and its trading conditions fit me very well. For a minimum deposit of $100 I got - floating spreads from 1.2 pips and the feature of trading through Expert Advisors. It suits me perfectly))
Guys, never trade with unregulated brokers, that can be the right way to lose your money. Of course, there are also unregulated brokers that are good but that's safer to trade with regulated ones. I like that this brokerage is regulated, there are FOUR regulations, including FCA and CySEC. That's the most important thing you should know about this brokerage, it's just regulated and safe.
I decided to open a Fixed account with this broker because it suited me. It feels like it's a typical ECN account but under another name. I usually open ECN accounts because they are universal. They are equally good for long-term trading and scalping due to tight spreads.
I believe that most of the traders who are in the search for the new broker ask themselves whether they can confide their money into this or that brokerage. I believe that it is the most important question that you should ask yourself in order to be safe.
HYCM is one of the oldest brokers which is regulated by numerous third-party organisations. As for me, the problem of safety is the most important one because is the broker is a scam, then you will definetely lose your deposit irrespectively of your trading skills.
As for the trading conditions, there are several types of account which differ from each other by the spreads and special features, so, I believe that everyone can find something for themselves.
I registered a Raw account with Henyep Capital Markets. This broker's branch is regulated by FCA. I didn't sign up with an unregulated broker. Its license is important for me.
The rest doesn't deserve much attention - I just trade minor pairs here with 1:20 leverage. I try to refrain from higher leverage cuz it's not for good. That's an optimal leverage size for me to earn what I expect to earn and survive pullbacks. I remember I lost several depos with other brokers due to leverage. For me everything higher than 1:20 is dangerous.
I choose HYCM broker first of all because of the open regulation and registration. You should be sure that you funds are in a safe place. Moreover, HYCM has customers money protection system. My trading experience is about 3 years and here are some cons and pros that I found while trade here:
1.100$ min depo - good for new traders
2. Mt4/5 classic trading platforms
3. Flexible leverages
4. Professional educational materials, live webinars and seminars
5. Small range of instruments
6. Three account types with different spreads
7. EA available
So, no doubt HYCM is a competitive broker. Another key feature as for me is international recognition. The company has more than 20 global awards! Also, the broker is suitable for Muslim customers. They can do investing with Islamic account type.
There are many deposits and withdrawals methods with democratic conditions including bitcoin.
I hope this review will be helpful for all traders and save people from scams.
I recently started trading with this broker. There were times when I ran into problems in trading and started looking for a new company. That is why I opened a HYCM account.
I knew that this broker has extensive experience in trading and other financial services, so it seemed to me that no problems should arise.
I started testing the HYCM demo account. I have not used the MT5 trading platform before, so it was a pleasant surprise for me. I mean the functionality and opportunities for trading and analysis.
I want to say that many people do not appreciate what they have, but I am not like that. I think I will continue to trade with this broker.
Being an experienced semi-professional trader, changing my broker to a new one was a tough sledding for me. I was having problems with platform glitches, delays in withdrawal requests and reluctant customer services to help you out. I was in the process of choosing a new broker that I can count on with the problems I have experienced.
When I ran into HYCM reviews, I went through them all, got a solid, overall foundation on what I can expect from HYCM in my trading journey. It is already a while now since I started trading on HYCM. And my impression so far is that it is a blessing to have an unproblematic broker without withdrawal/deposit/technical/connectivity issues. They also do brief and insightful blogs, which is nice to look at every now and then.
Oh, I spent two months choosing the right broker. It was really difficult! I am very fortunate to have stumbled upon HYCM. I was looking for a broker with the minimum commission and positive reviews.
Also, it was important for me to have the broker's MT4 platform since I only work with it. So, I have been working with a broker for over a year. Reliable and honest. I can confidently recommend it to my friends.
I was choosing my first broker and I was really afraid of being scammed. So, I was looking for some very stable and reliable broker. HYCM is one of them. It operates since 1970s and it sticks to the high standards as trading community put it. So, I did the right choice because now I can concentrate on my learning instead of thinking about broker's reliability.
I just followed the recommendation of my friend and joined this brokerage company. He recommended it as a reliable partner. In addition to manual trading with this company, my friend also promotes it for money. If I'm not mistaken, it's called HY Affiliate. I'm not interested in affiliate marketing but I needed a regulated broker with an ECN account. That's an example of it.
I opened a Raw account here. Its name shouldn't confuse you. It's an ECN account indeed. So, it offers tight spreads and I need to pay commission for this.
I have been already trading on it for a bit more than two months. I have a positive impression of trading here. Execution is good, but I didn't expect something different from a regulated broker.
If someone asked me to name a reliable broker, I could think of two, and one of them is HYCM broker. It would be hard to find a broker with more than 40 years of financial trading experience.
The broker combines a good trading environment with a good educational background.
The trading platforms work as well as the standard Metatrader 4 and 5 trading platforms. There are no issues with them.
To be honest, I read about this company before. Back then I couldn't even think that I would cooperate with them. Why not.? Good question! HYCM is a known broker with a nice reputation. I guess that's because I was all into crypto back then.
High quality available trading platforms. I first traded MT4 and now I trade MT5. There are more possibilities and I think that you will agree with me. I trade in stocks. I really enjoy doing so!
I chose this brokerage company for cryptocurrency trading. Of course, it's not the only broker in the world that offers cryptos. It's possible to find brokers with a richer choice of digital coins, but I chose exactly this company because it's regulated and one of the oldest brokers in the world. Experience matters for me.
Answer: It absolutely depends on you trading type, there is no bad or good types. Actually there is raw, fixed and classic. So and there is a lot of difference I would reccomend you to take a look at yourself becuase there is spread difference as well as difference in trading platforms and assets you gonna trade. And most important type, as I said, It is your trading style. If you are high frequency trader you gonna need different if you are low frequency you gonna choose different ones! So I wish you good luck with that hard decision!
Answer: Of coruse you can. These guys are legit in providing education and new perspectives for trading. Their articles go all around the trading communities and related webseites.
Answer: Hycm lab is a blog, I think so. It has a strange name to it but you can find a lot of useful information in there.
Answer: They are constantly developing, hiring new people, implementing new ideas and trying to have better and better products. They are constantly making new promotions and stuff like that. Trading brokerage is the place where it is very hard to find new ways to change the trading. But they are trying and I guess they will succeed.
Answer: Demo account. Please start with it. Only after you feel confident in trading on this account you can choose the type of real account that suits you best. The fact is that traders often choose the type of account based on the trading strategy that they use. That's why I would advise you to begin by creating such a strategy on a demo account.
Answer: Of course, why not? The number of trading platforms you trade on does not effect your process of skill development. The number of trades you make over time does. And one proper platform such as this one can and will be enough for that.
Answer: Yes, they provide a lot of useful information. I heard that one of the leading analysts of this broker has a kind of a blog. In this blog he shares some analytics. Unfortunately I forgot his name. But I believe that you will be able to find this blog by googling it.
Answer: Uhm... It can be done easily, you should find client portal and pick statements section. Determine the date range and enjoy your account statement.
Answer: Hi Luuk, Yes, we do offer an affiliate program, you can sign up as an affiliate here - https://hyaffiliates.com/ or you can email us at info@hyaffiliates.com for any queries you might have. Regards Harry Christodoulou Head of Affiliates
Answer: Yes, it is totally allowed. You can set up your expert advisors and can use MT4 for to deploy them to your automated trading structure easily. There's complete support for that.
HYCM has a rating of 2.8 stars from 193 reviews, indicating that most customers are generally dissatisfied with their purchases. HYCM ranks 4th among Brokerage sites.