HYCM group includes 5 related companies.
HYCM UK - located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
HYCM CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
HYCM UAE - located in the United Arab Emirates, regulated by the Dubai Financial Services Authority (DFSA).
HYCM SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
HYCM KY - located in the Cayman Islands, regulated by the Cayman Island Monetary Authority (CIMA).
Be aware, UK and CY companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
HYCM group accepts clients from all over the world, excluding USA, Hong Kong, Belgium, Japan and some other countries.
Forex broker offers the following underlying assets for trading.
|70+ Currency Pairs||Based on major and minor world currencies.|
|20+ Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Bitcoin SV, Cardano, Cosmos, Dash, Doge, Ethereum, Litecoin, Link Platform, Monero, Polkadot, Ripple, Stellar, Tezos, Tron, Zcash, Yearn.Finance, Uniswap, EOS, NEO.|
|28 Indice CFDs||Based on baskets of different blue-chip stocks.|
|9 Metal CFDs||Based on Gold, Silver, Platinum, Palladium and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|4 Soft Futures||Based on Cocoa, Coffee, Sugar, Cotton.|
|150+ Stock CFDs||Based on shares of US companies.|
|20+ ETF CFDs||Based on exchange-traded funds containing various tradable assets.|
HYCM, also known as Henyep Capital Markets, is an international forex and CFD brokerage with history going all the way back to 1977 when Henyep Gold Dealers came into business after joining the Hong Kong Gold and Silver Exchange Society. The company went on to become licensed by the UK’s Financial Conduct Authority (FCA) in 1998, and launched its first online trading platform in 2007 under the company name Henyep Investment UK Ltd.
The broker is today regulated by the four major regulatory agencies in the United Kingdom, Cyprus, Dubai, and the Cayman Islands. Among these, the Dubai and Cayman Islands-registered entities offer the most flexible trading conditions due to the influence of strict ESMA and FCA regulations on the Cyprus and UK-based entities, and ASIC regulations in Australia. In addition to the mentioned countries, HYCM also has offices in Kuwait and Hong Kong, as well as an entity registered in Saint Vincent and the Grenadines.
Although HYCM today is a global broker, it still does not accept clients from a range of countries for regulatory reasons. This includes traders from Hong Kong, Japan, France, Turkey, the USA, certain provinces of Canada, and some other smaller countries. The full details on this are available on the broker’s website.
In terms of its selection of trading instruments, HYCM has a pretty standard offering with around 70 currency pairs to choose from, nearly 30 international stock indices, gold, silver and a range of other commodities, stocks of more than 150 US-listed companies, as well as a pretty large number of cryptocurrencies such as Bitcoin, Litecoin, Ethereum and XRP.
For the most liquid forex and index CFDs, available trading leverage goes up to 1:500 for international clients outside of EU, FCA and ASIC jurisdiction. For traders in these jurisdictions, however, leverage is capped at just 1:30, in accordance with local regulations.
With HYCM, new clients can choose to sign up with either a Fixed, Classic, or a Raw account. The account names refer to the spread model the account follows, with the first account offering fixed spreads starting from 1.8 pips and commission-free trading, the Classic account offering variable spreads starting from 1.2 pips and commission-free trading, and the raw account offering the raw spreads from liquidity providers starting from just 0.2 pips along with a commission of $4 per round-trip.
In terms of platforms, HYCM is a MetaTrader-only broker, having chosen to focus on the MT4 and MT5 as its trading platforms. These are both platforms that are already familiar for many traders, having remained popular over many years due to their large selection of Expert Advisors and advanced technical analysis capabilities.
Deposits and withdrawals can be made through many different methods with the broker, including bank wire transfer, major credit and debit cards, as well as popular online money transfer services like WebMoney, Neteller, and Skrill. Additionally, deposits made directly in bitcoin are also accepted for clients of one of the offshore-registered entities. HYCM does not charge anything for deposits made with any of these methods, although withdrawals of less than USD 3,000 may be subject to a processing fee. For Skrill, Neteller, and WebMoney specifically, there is a 1% processing fee for withdrawals over USD 5,000, which means traders can avoid this by simply making their withdrawals in smaller increments.
Lastly, we appreciate the 24-hour customer support that is offered by HYCM, available via live chat and instant messaging apps like Skype, WhatsApp and Telegram, as well as by phone. The only thing currently not offered that we would like to see is a direct line to the trading desk for assistance with placing trades and checking the status of orders. All in all, however, HYCM is a broker we believe traders should take a closer look at, particularly for those looking to trade crypto and stocks with higher leverage on MetaTrader.
HYCM broker made me feel astonishing after I detected its learning materials... Webinars are flawless! They certainly help traders to get some additional knowledge and teach fundamental basics.
Initially started off as a fixed spreads amateur, ended up as a full-fledged trader on Raw account. HYCM opens tons of opportunities for traders regardless of their experience in the field =)
This company is like super old. It is way older than any other broker I have seen in the market. I don't know whether they are modern one or an outdated one. I am signing up, and about to find out!:D
I trade American stocks, some major crypto pairs and forex pairs here. Whenever I needed to trade some other instrument I always found it on the platform. This great broker expanded my reach in the markets.
I like to use experienced brokers and this broker is surely experienced and it shows. The broker does not neglect any part of the traders' experience and from a responsive and polite, to details as small as the clients' dashboard and general design, the broker puts in much effort to make it perfect. The education and webinars are some of the best I have seen a broker offer and I have become a better trader and more successful because of them. A good place for pros and newbies to learn.
I find HYCM a nice broker. I've never had any significant issues through all time of usage. The only thing I had once was a delay in placing orders because my PC was too old and Metatrader was too hard for it to process, but that is equipment talk. Everything else is just nice.
I have been a supporting affiliate to them for many months. I decided to try trading there for myself. All in all, nice service and great platform :)
I never ask much from my brokers in my trading career, just a decent and trustworthy institution that processes my trades and gives me a smooth platform. I am staying here for these reasons.
I respect hycm because experience and longevity do make a statement. The broker has outlived many others and will outlive even more as the broker understands the needs of traders. I have been a trader for a long time and I have used plenty of brokers. Hycm keeps up with the times but more importantly, keeps it simple and original. I admire that.
With decades of experience to show off, it is clear why this is a top broker. I have been a client of Hycm for five years. Needless to say, I am also refined because of experience.
These are a few reasons why I chose and stayed with this broker:
– The comfort of trading with MT4 and MT5.
– The politeness and professionalism of the customer support.
– Have raw spreads as an option. Spreads used to be my no.1 criterion to pick a broker, but now it is more than just the spread.
– The security and safety in knowing this broker was before me and will be here after I leave.
I can keep going, but that would be redundant. The point I am trying to make is that this is an excellent broker. Cheers!
Their website is cool, but... it's lack of innovative design as to me. As being fond of UX design, I always notice drawbacks in it. Nevertheless it doesn't interfere with trading activity, everything is ok, no complaints about trading.
Un-stressful is the word that describes this broker. Everything is easy.
The broker seems to me quite acceptable... everything what an ordinary trader needs is here. Need lots of assets? Welcome. Need various types of accounts? There are 3 ones here. Just to be clear, I am not keen on complaining, but sometimes I don't mind to scold brokers. Not this time.
I like HYCM, in spite of the fact that it took me a while to figure out how to work with my account. I think it's great that I got help from the customer service specialist. He was quick to answer and explain to me how each button in the menu works. Thank you for the support!
Raw account is my favorite one, cause I don't really like fixed spreads and actually... who likes them? I guess only newbies and people who comply with restrained risk management plan. However, it doesn't mean that fixed account is worse than raw one. All of them can find their consumer :D
HYCM helps me to find and manage my trading strategy and make profits. When I came to trading, I thought soon I would be a millionaire! Then I realize I need a space to get more knowledge and the right tools and instruments. A friend of mine was trading with HYCM for a few years, and he suggested I open an account. I chose raw from fixed, classic, and raw account types because of the lowest 0.1 spread. Opening such an account is more expensive - it costs 200$, but it has an EA option, which positively increases my statistics. Using Metatrader makes my trades easy on different markets and assets.
Before starting trading there I've read a lot of HYCM reviews and really, traders are talking about banal things - spreads, trading platforms, regulations and education. Yeah, all of these things are important and that's true but c'mon, we're speaking about one of the oldest brokers, of course there will be everything good with such banal things.
The only problem is that brokerage doesn't accept US clients, but that's problem of SEC rules, so it's hard from non-US brokers to work with the US citizens.
Why you should trade there? As you may understand, that's simple, brokerage has long history and is one of the top brokers.
Personally I'm trading there because of Raw account type. I'm trading mid-term, but sometimes prolongate trades to the long-term period or close them down in short-term. And Raw account is the best for my strategy, I'm paying tight spreads (usually around 0.2-0.3 pips) + $4 to open a trade.
It is difficult not to pay attention to the fact that today there are so many companies, and they are all very different. HYCM I can refer to the type of companies that deserve attention, precisely because it creates conditions for people to act more productively, to learn and generally build for themselves those formats of work that give understanding of the market and allow to navigate in this large volume of events. First, there are quality trading terminals, which include a huge number of indicators and other tools for the analysis of all processes. Secondly, there is regulation, so the money can be withdrawn without any problems. Thirdly, there is a demo, which can be used at any time convenient for you.
After I've read many HYCM reviews, the brokerage seems to be one of the best in the industry. Now, I understand that it isn't so but it's still good. HYCM combines features of tier-1 brokers and make trading accessible for every trader, even if you have only $100 to start trading.
However, there are some disadvantages:
- You can't choose what kind of company you're going to trade. HYCM (Heynep Group) is the group of companies that opperate in different parts of the world and the company you will trade with depends only on your geography.
- Restricted leverage for the EU clients.
- Spreads are high sometimes, but I suggest to use Raw account type.
Brokerage is good, in general, but there are some points you should keep in mind.
1. Heynep is a group, so there are 4 legal entities, you can't choose exact one you want. Everything you can do is trade with entity that operates in your jurisdictions. HYCM reviews usually don't mention this, but that's important point to consider.
2. There's $100 minimum deposit, but that's hard to earn money with $100 (I even can say that's impossible), so you need to invest more money to earn with trading.
In general that's good brokerage, I'm trading with HYCM for 6 years and never even thought about changing a brokerage, as there's no sense, brokerage is really great.
You can really afford a lot of things here, and that's while the company is regulated and there are certain limits. First of all, I like their choice of trading terminal, because there are enough indicators and settings for you to have a clear picture of the market before your eyes and your analysis will be as accurate as possible. And money is withdrawn here without problems and on time.
I am very pleased with my choice for several reasons:
1. There are very small spreads, you can try all types and even raw with the commission is not a bad option for those who are already confident in the market.
2. It is possible to study here, the company prepares webinars, reviews and even ready-made analytics with exact figures.
3. And there is always online support, always answering questions.
I've been a client for several years now. No troubles encountered with the broker. No miracles: trading fees are there, so are the slippages from time to time, yet overall experience is better than anywhere else.
Metatrader 4, regulated with the UK FCA, has offices and representatives in many countries, that's one side. Reasonable spreads and only $100 min deposit is another side. When this two sides are combined, we see really great brokerage that is the top one...
Advantages: fully licensed and regulated, a lot of assets, a lot of education, analysing tools
Disadvantages: spreads for stocks are really high, leverage for stocks only 1:20
As you see, brokerage has licenses and is reliable, but trading conditions are worse than within less regulated brokerages.
The broker is reasonably fair in their spreads policies. You can either have ultra-low spreads + $4 commission or choose classic account with 1-3 pips spreads and no commission applied. Withdrawals take just an hour or so for e-payment systems, but if you prefer to save on payment system commissions, better collect more profits and withdraw to bank once a month or so. Wires take 2-3 days to complete.
I think this company has good prospects, not only I trade here, but also many of my friends, but most of all we all like the fact that money is quickly withdrawn here. In fact, no one likes to wait, but it's great that they understand this and applications for withdrawal are processed as quickly as possible.
HYCM was able to organize everything so that you could act freely and you did not have to constantly wait for the terminal to load. The chart here is generated in real time and all assets are visible, besides you can do the analysis directly in the terminal, this is another advantage.
For me, trading has always been a significant business, because I started doing it a long time ago and I immediately liked the fact that I can earn on almost any event that occurs in the market. In addition, thanks to this activity, you don't need to be in the office all the time or find a specific place, you can be where you are comfortable, and at the same time it's not bad to earn. Well, of course, if you understand how you can use the information you get. Naturally, it doesn't matter which company you choose to cooperate with and what conditions it offers you. Among all the things I have tried, I would give preference to HYCM in the first place. Because here they were able to provide confidence not only on paper, but also in practice, because I think many people understand me that almost all companies offer gold mountains, and then can not even guarantee the quality of the trading terminal. So, there is no such thing in HYCM, here they managed to set up the work so that you always have access to up-to-date information and could trade in a dynamic platform. And there are also quite good commissions, which do not take away the main part of your profit. It's the same with spreads.
For me HYCM was a great solution, everything seems to be standard and simple, but on the other hand, everything that was promised on service and work with the platform is, I'm satisfied with it.
Come to trade with HYCM around 2 months ago and everything is okay. A lot of assets + spreads are relatively low. I always thought HYCM is a young brokerage and only a week ago understood that it's the part of Heynep Group and has more than 40 years history. Honestly, I was amazed :) Despite the brokerage is quite old, it keeps up with the times and keeps up with trends, so it's one of the best offers on the market.
This broker has nice executions speed and fair spreads policy. Add some reputation and regulations and here it is - your reliable borker HYCM.