HYCM Forex Review – Trading Tips
Henyep Capital Markets was founded in 1997 in the United Kingdom and it was formerly known as HY Markets. It is a part of the Henyep Capital Markets group which is a global financial conglomerate that offers various financial services. HYCM Forex is regulated by the FCA which is one of the strictest institutions globally.
HYCM does not allow customers from the United States at the moment, but it has offices globally in cities such as Paris, Dubai, Hong Kong and Kuwait.
Types of Accounts
HYCM Forex offers 3 types of accounts which are micro with a minimum deposit for beginners a standard and a VIP account for the experienced traders and with a minimum deposit of $10,000.
To register with HYCM Forex is simple and it is done online. Once the registration process is complete and the banking details are submitted you can start trading. It also offers a free trading account where the systems and software can be tested before going live but it is also useful especially for new traders to get familiar with Forex trading.
Prime Trader is the brand new platform that HYCM uses and it has the capability of trading in multi-markets and products.
HYCM Forex uses the world renowned MetaTrader 4 which gives the clients safety and 24-hour support. It shows the market trends and live news streams directly to the platform.
HYCM Forex mobile platform can be downloaded for free on both Apple and Android phones. This allows the client to trade on the go and the app allows the user to get live charts, trade history, manage your account and you can execute trading instantly.
Deposits and Withdrawals Services
HYCM allows deposits into the trading accounts using all the major banks debit or credit cards. It also allow money brokers and covers PayPal, WebMoney, UnionPay and Skrill and wire transfers.
Withdrawal is done the same as the deposit system and the client requests payment via an online request form. The client must ensure that all the necessary details are filled on the request form. With wire transfers, it could take 5 to 7 days and there will be a transfer fee of $30.
Our HYCM Forex Gallery
HYCM has a comprehensive customer support system starting with trading tools. The tools cover an explanation of global trading, trading technology focusing on the importance of emotional intelligence and allowing you to get a better understanding of Trading psychology. There are also tools for Capital Management, Market Analyses, Basic Technical Analyses and Advanced Technical Analyses.
There is a tutorial for beginners which covers subjects like forex advantage, basics of forex terms, the types of orders, and you get winning concepts and a glossary of concepts.
They also have a set of 5 tutorials to explain and show how to use the platform from the installation of the MT4 program, how to understand the terminal window, using types of orders adding indicators to the graphs and how to interpret the graph properties.
Part of the customer support is a section on all the 10 strategies that are used. Each tutorial covers each section in detail and how to use these different strategies.
HYCM have 4 eBooks on offer and there are 2 books on forex trading – a basic version and an advanced version. The other 2 eBooks cover commodities and futures and commodities and stocks.
The customer support is there 24/5 from Monday to Friday and the support can be done by phone, live chat or through emails for the various client departments. All ways of contact are listed on the main HYCM website under the support section. The customer support also has personnel that can speak on of the 5 major languages that are used globally.
Safety & Regulation
HYCM Forex falls under the FCA which is one of the strictest regulatory bodies in the world so whoever trades with HYCM can be assured that their funds are well looked after. They also use some of the biggest banks and the operating and client funds are segregated. The platforms used by HYCM Forex use the best SSL certificates available and the clients can be confident that their information is safe.
HYCM Forex is a global trader with an excellent reputation. They have the infrastructure in place to ensure that from the beginner to the professional stage the users of their platforms have a good experience and HYCM is regarded as one of the forex trading leaders in the world.