It means you’ll have limited amount

Demo account itself is a controversial topic, to my taste it can be helpful occasionally. It means you’ll have limited amount of instruments, basically no shares. The Raw account type has spreads starting from 0.1 pips and an $8 round turn commission per 1 traded https://forexreviewdaily.com/ lot . It is most suitable for low-frequency clients, such as day and position traders, who tend to place high-volume orders several times per month. Payments to and from accounts with HYCM can be transacted via wire transfer, credit or debit cards, or e-wallets.

HYCM fees will vary according to the account type you select or trade, so see which one is suitable for your trading style. HYCM has long history of operation and is a heavily regulated Broker. The account opening is easy and offers various account types while costs are low, HYCM education and research is good quality and you can use various options to deposit or withdraw funds.

Why is Choosing the Right Account Type Important?

I decided to stay with it because there are plenty of fascinating conditions. For example, the conditions of a raw account seemed to me pretty interesting. Moreover, there is a form which can help you to determine which types of account suit hycm stock price you most. So, actually, everything is pretty convenient here. Decided to write a review after several months have passed. I tried trading with HYCM broker somewhere in the spring. I have noticed an account that became my passion – Raw.

HYCM or Henyep Markets is a global CFD and forex broker. HYCM’s parent company,Henyep was established in 1977. The broker is regulated by several financial authorities globally, including the UK Financial Services Authority and the Cyprus Securities and Exchange Commission . Client funds are held in segregated account at Tier-1 financial institutions for clients within FCA, CySEC and CIMA regulation. Don’t hurry and everything will be okay on the market. This is the rule of main which I comply with during trading activity. I would say that it’s a very, very reliable forex company with a simply good trading environment.

Account opening

HYCM made a new Mobile App with improved functionality as a new release of its proprietary mobile application HYCM Trader. The app includes integrated real-time support, available in 4 languages, and can be downloaded from the Google Play and Apple App Store. This is indeed great and very recommended for beginning traders especially, since together with good education and research tools you have good chances for a good trading path. Nevertheless, professional and day trading traders would need a desktop platform which is a full version of MT4 or MT5 platform offering a maximum of its trading capabilities. The only gap could be a limited number of tools and drawing applications available via Web Version so for more comprehensive analysis you better choose desktop MT4. Fortunately, the company offer lots of attractive conditions but the only thing is the small amount of depositing/wihdrawing methods.

• When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses.
• The customer service treated mt in a frivolous way, keeping holding off.
• I joined this broker following one of the recommendations received on my favorite trading forum.
• HYCM’s parent company,Henyep was established in 1977.

HYCM neither offers bonuses nor hosts special promotions. The Forex knowledge base represents an exceptional educational category. Unfortunately, the long operating history of the corporate owner, the Henyep Group, is the sole “unique” feature of this broker. HYCM focuses on the essentials to remain operational but maintains a sub-standard core trading environment.

HYCM Customer Service

I wonder if the broker allows several accounts or not. That’s why I want to share my experience of trading in HYCM. I think that trading should be done seriously, because this case is complicated, in my opinion. And here we are talking about money, which requires attention under all circumstances. And I will certainly recommend all traders, who are at the https://forexreviewdaily.com/ beginning of their journey, to concentrate at once to the maximum and work a lot from the first day. And I think that this company fully meets my requirements, so I continue to work here and learn something new and interesting about the market every day. Your account will be protected by regulators, which you can read about on the broker’s website.

Although the fixed spreads are much likely to be wider than the variable spreads, traders here will have a better trading environment as they have an idea of what to expect. Variable spreads, on the other hand, can swing a lot especially when there are Forex brokers relevant news releases. HYCM, part of the Henyep Group, which has provided trading services from Hong Kong since 1977, has been operating under a UK license since 1998. The group is active globally, with a focus on Asia, Europe, and the Middle East.

Review

The compensation of forex clients is also a relatively known feature of forex brokerage firms that are based in the UK. All firms that are allowed to operate in the UK fall under the Financial Services Compensation Scheme . This scheme aims to primarily protect consumers when their brokerage firm declares bankruptcy. Clients of HYCM can expect to get a cover of up to £50,000 in the event that the company goes bankrupt. This feature is not common to all forex brokerage companies in the world with most having a consumer protection fund of 0 to $20000.

HYCM Education

HYCM processes over 25,000 orders daily, offers spreads as low as 0.2 pips, and has an average execution time of 12 milliseconds. This broker offers clients a well-regulated trading environment with over 300 assets across five sectors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs.

The broker also provides an attractive HYCM bonus for deposits that offers 25% as deposit bonus for a maximum bonus of $5000. Traders must deposit at least $500 for a bonus, but the trading conditions are too steep for an average trader.

NewsWIKIFX REPORT: Henyep UK changes corporate name to HYCM

I started to trade with hycm several months ago and I am going to share my experience with you here. One of the most important things in trading is your mediator https://forexreviewdaily.com/hycm/ with the market, I am talking about trading platform. Hycm offers a choice between mt4 and mt5 and that is really awesome as I am a fan of mt products.

HYCM’s service desks, which provide support in multiple languages around the clock, can answer any questions or concerns you may have. Despite only being https://www.ig.com/en/forex/what-is-forex-and-how-does-it-work open during business hours, customer care is quick to respond and easy to get in touch with via live chat, international phone lines, email, etc.