HYCM Broker Review

Henyep Capital Markets Broker Review

REVIEWS

2020-05-09 18:30:00

hycm broker review

The basic information about the company and the terms of trade is presented, the monitoring of current prices in the main markets is interestingly performed. The site has been translated into 12 languages. Henyep Capital Markets is a holding company with headquarters in London and operations offices in Cyprus, Hong Kong and Dubai.

 

Registration

Registration is standard, we enter personal data, mail, mobile phone number. We confirm email and you can download the trading platform. In addition, we indicate the date of birth, address of residence, answer a number of financial questions, confirm the mobile phone number. Be sure to provide copies of documents proving the identity and place of residence. To confirm the address, the following is acceptable: bank statement, utility bill. If you have made a deposit with a credit card, HYCM requires a photocopy of the front of the card.

 

Deposit and withdrawal

You can replenish your deposit using bank transfer, Visa, MasterCard and Skrill electronic payment systems. The broker does not charge a commission for replenishment of deposits. Withdrawals via Visa and Skrill are without commission. Withdrawals using a bank transfer of less than $ 300 will cost $ 30.

 

Trading conditions

The minimum amount for opening a trading account is $ 100. The broker offers three types of trading accounts: Fixed, Classic and RAW. It is possible to trade more than 100 financial instruments: more than 40 currency pairs, various CFDs on indices, goods, stocks, cryptocurrencies and precious metals. Leverage up to 1: 200. The spread on the Fixed account is 1.8, on the Classic account 1.2, on the RAW account 0.2 + $ 4 commission.

hycm broker review

Trading interface

HYCM offers only one trading platform, the well-known MT4, there is a version for mobile devices. We tested MT4 from HYCM. I liked the work of the platform, very good speed of opening an order, about 0.4-0.5 seconds. Spread 2.0 pips.

 

Safety and scam protection

Henyep Capital Markets (UK) Limited is regulated by the Financial Supervisory Authority (FCA), license number 186171. HYCM (Europe) Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 259/14. HYCM Ltd is regulated by the Cayman Islands Monetary Authority (CIMA), license No. 1442313. Henyep Capital Markets (DIFC) Limited is regulated by the Dubai Financial Services Authority and Regulatory Authority (DFSA), license number F000048.

All customer funds are held in segregated accounts with first-class banks. HYCM is a member of the Financial Services Compensation Program (FSCS) with coverage of up to £ 50,000.00, Investor Compensation Fund (ICF) with coverage of up to € 20,000.00 and London Lloyd's, with coverage of up to $ 1,000,000, in case the company is not able to settle the claims  submitted to claim and cover losses.

 

Tech support

Customer Service is open from 23:00 GMT on Sundays until 21:00 GMT on Fridays. In addition to being able to contact in writing, there is a help line. The site has five different email addresses so that you can easily contact the appropriate department to solve problems or answer questions. To check the support service, we opened a ticket. Within three hours, we received an answer in the mail.

 

Conclusion

HYCM, as part of a large international group, has over 40 years of history of providing financial products and services to the trading community. Traders looking for a stable, well-regulated broker who offers their clients access to more than 100 forex and CFD products should pay attention to HYCM

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Damian

Damian

Author

I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....

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