HYCM Broker Review 2020: is it really trustworthy?

Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage. The Classic Account has variable spreads from 1.2 PIPS. There’s also no commission and requires $100 minimum deposit.

All of those are being addressed continually by HYCM through continuous service improvement plans. Between 74-89% of retail investor accounts lose money when trading CFDs with this broker. A coupon code from HYCM is a alphanumeric code that you use to get the discount on your order. These Coupon Codes are also called coupon code, promotional code, discount code, promo code or voucher. Webshops from around the world use these types of codes to give discount to their customers on certain products or orders.

We have checked out some of the articles and they seem to be quite good for beginners to get a basic understanding of how everything works. HYCM doesn’t give you too many benefits to forget about the dangers of working with them. If some local feature caught your attention – by all means, try the platform for yourself. However, there are countless other brokers with more features and less dangers. It is a reoccurring problem, but it’s not clear why withdrawing your funds from this platform is so uncomfortable. Chances are, you will manage to withdraw them once or twice, and then there’ll be either a very long delay or a mysterious disappearance.

  • Offerings include its Raw and Classic account types from its UK entity.
  • Essentially, when a business cannot meet its financial obligations to customers, the FSCS intervenes to compensate for the financial losses that customers have suffered.
  • It may also be that the coupon code is only valid for a particular product.
  • HYCM has made the withdrawal process as efficient as possible.

The FCA and CySEC are highly proactive in ensuring that each one member firms adhere to the simplest financial conduct to guard the integrity of the markets. Hycm mobileThe Henyep Group has its representative offices in several parts of the planet . HYCM is primarily situated within the UK, but its branches are scattered across countries like Cyprus, Hong Kong, Dubai, and Kuwait. HYCM is regulated by the FCA also because the CySEC , which are two of the main regulatory agencies within the FX market.

It’s not exactly a benefit, but it gives you some idea of the company. 40 years in business means that, at least in theory, they can be more competent than usual. Compared to pricing leaders, HYCM is dear and not recommended for discount trading. HYCM regulation is additionally enforced by DIFC in Dubai that’s mainly aimed to cater to the ultra-rich clientele from the center East.

FCA Regulated Forex Broker

To HYCM offers a 10% credit bonus on every deposit you make over $ 100. The maximum bonus granted in this promotion is $ 5,000. This offer is only applicable to customers of HYCM limited, regulated by the monetary authority of the cayman islands. Compare live Forex trading accounts from STP brokers, including DMA and ECN STP brokers, in Canada. Understand how STP brokers work and what this means for you. To get started, open a regular account online at AvaTrade.com.

How can a corporation that has existed for quite 40 years and has acquired tons ofglobal awards for trading excellence be a scam? The company’s transparency policy only shows how trustworthy it’s . It is important to note that HYCM has a complete section related to education. It includes many articles that explain how forex works, what is index, how to choose assets for trading, and other stuff like that.

hycm broker review

The user has changed account types to control the spreads and says that he spends up to 6 hours trading every day. He is glad he left his full-time job and writes that is was the best decision so far. Review-wise, it’s not the best platform to entrust your funds to.

Brokers with Segregated Accounts

HYCM is that the Forex brokerage division of Henyep Group, which began operations as a Gold and Silver exchange platform in Hong Kong during the late 70’s. HYCM has had an illustrious history within the financial markets and is one among the oldest companies within the industry with quite 35 years of experience to its name. Henyep Capital Markets was formerly referred to as HY Markets and had made a big impact within the industry by offering numerous financial products starting from Forex trading to investments. This HYCM review is meant to supply you better insight into the fine aspects of HYCM Forex operations including regulation, trading platforms, payment options, bonuses, and opening an account. 72.6% of retail investor accounts lose money when trading CFD with this forex broker.

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Buy and sell CFDs on Apple shares in Canada without commission when you open an account with one of the following brokers. Compare https://broker-review.org/ Forex brokers with Direct Market Access in Canada. Trade directly with Tier 1 liquidity providers in the Forex interbank market.

It has a lot of problems, at least according to the impartial reviews on the aggregators like forexpeacearmy.com and others. There is no doubt HYCM is a very safe broker to work with. The regulatory commissions have top tier reputation among the trading community. You can get lower spreads, but it’s on a commission based account. In general it’s a broker with a good foundation that needs further development.

It is one of the defining factors of each broker or exchange. If the support is great, you can let a lot of bad decision go. If the support is poor, then all the disadvantages become even more prominent. As of the trading features themselves, the platform doesn’t give you too much. Of course, you have both MetaTrader 4 and 5, a large educational library and a wide variety of different valuable to trade in. HY won’t give you any unique offers, but they aren’t modest either.

hycm broker review

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ECN Forex Brokers

Scam-Rescue is a website whose purpose is to provide direct access to reliable businesses in the the field of funds recovery and investment brokers. The information on this website is not directed at residents of any country, where such distribution is against local laws or regulation. We are not responsible for any losses you may incur, by investing with a company mentioned on this website.

Compare Forex demo accounts up to $100,000 with no time limit. Compare the best Forex brokers for beginners in Canada and discover the 5 things to look for in a Forex trading account. MetaTrader 5 is the successor to MetaTrader 4, the world’s most popular trading platform. We’ve reviewed the best MT5 brokers in Canada, and highlighted those that allow all trading styles and Expert Advisors. Compare Forex and CFD brokers that pay interest on the balance of your trading account in Canada. HYCM is keen on providing only the smoothest deposits and withdrawals to its customers.

hycm broker review

Trade over 60 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 with this ECN account. Get ultra-fast execution speeds under 40 milliseconds. Withdrawals shouldn’t only be as smooth but also as safe as deposits and HYCM has made measures in ensuring that happens. The safety of the funds is formed by employing multiple security checks that ought to be completed before a withdrawal is formed . HYCM can process a withdrawal in as fast together day but the transfer usually takes 3 to 7 days to finish , counting on the bank where the cash are going to be transferred. HYCM has made the withdrawal process as efficient as possible.

Highest Leverage Forex Brokers

Below is the complete list of FCA regulated Forex brokers. There are two types of coupons, one is a code that is redeemed at the online store. The second is a link with a coupon code, just click on it, and your discount will be deducted automatically from the total amount at the checkout. Trade anywhere, anytime with mobile trading apps for iOS and Android devices. Finding a broker with KWD as a base currency for your trading account can be a challenge. We’ve reached out to over 20 brokers – including AvaTrade, HotForex and XM – but only one broker now offers a KWD Forex account.

HYCM spreads also are significantly higher, especially since other leading STP and market maker brokers offer spreads ranging from 1 pip. The HYCM discount coupon are codes used by online stores to convince undecided customers to complete their purchase. If you enjoyed the discount offered by our coupons, we recommend that you checkout immediately as they have very limited validity.

This exclusive event brings together market experts and forex enthusiasts to share and exchange their experiences and insights into the financial markets. It is free to attend; hycm review those who wish to attend simply need to register. The company does promise you good pricing and spreads regardless of the type of account or commodity you’ll want to trade in.

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