HYCM group includes 4 related companies.
HYCM UK - located in the United Kindom, 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 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.
|45+ Currency Pairs||Based on major and minor world currencies.|
|5 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.|
|16 Indice CFDs||Based on baskets of different blue-chip stocks.|
|4 Metal Spot CFDs||Based on Gold and Silver.|
|3 Metal Futures||Based on Gold, Silver and Copper.|
|1 Energy Spot CFD||Based on Crude Oil (WTI).|
|3 Energy Futures||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|4 Soft Futures||Based on Cocoa, Coffe, Sugar, Cotton.|
|10+ Stock CFDs||Based on shares of US companies.|
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 Cayman Island-registered entity offers by far the most flexible trading conditions due to the influence of strict EU regulations on the Cyprus and UK-based entities. In addition to the mentioned countries, HYCM also has offices in Kuwait and Hong Kong.
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 Belgium, Hong Kong, Japan, the USA, certain provinces of Canada, and some other smaller countries. The full details on this is available on the broker’s website.
In terms of its selection of trading instruments, HYCM has a pretty standard offering with about 45 currency pairs to choose from, 15 major international stock indices, gold, silver and a range of other commodities, and the five popular cryptocurrencies Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple XRP.
For forex and index CFDs, available trading leverage goes up to 1:200, while for individual stocks and cryptocurrencies it is capped at 1:20.
HYCM customers can choose to sign up with either a Fixed, Classic, or a Raw account with this broker. 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.
HYCM is a MetaTrader-only broker, having chosen to focus on the MT4 adn MT5 as its trading platforms. These are platforms that are already familiar for many traders, and they have remained popular over many years due to 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 the popular online money transfer services WebMoney, Neteller, and Skrill. 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.
We appreciate the 24-hour customer support that is offered by HYCM, available via live chat and a UK phone number. 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 good choice for traders who are happy trading with the MetaTrader.
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.