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2022 HYCM Review Pros, Cons & More

For example, there are problems with trading platforms and account types. I wanted an account with low fixed spreads, that was one of the reasons why I registered with this broker. Also this broker has an account with floating spreads and trading conditions on this account are as good as on the fixed one. To my mind the main advantage of this broker is that it allows to choose between floating and fixed spreads.

HYCM review

We ranked HYCM’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. Crypto, forex, commodities, all you site de forex need whether you are a newbie or a veteran of trading battles. I tune down leverage to small numbers and trade conservatively in the long term.

You’ll need some time to get to grips with it, but basicall raw means ‘very tight’. The platform works quickly, I did not notice any delays. Orders are closed on time, for which a million big thanks. Awesome Oscillator is the only indicator worth my attention. I especially benefit from its bearish or bullish divergence signals.

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It is cool that you’ve mentioned educational center of the broker which is pretty awesome. I mean that there is lots of materials about trading and trading strategies and they are of great help for me in spite of the fact that I have certain experience in trading. I always find there something new and try to implement it immediately on my trading. By doing so, I improve my trading and its versitality which really important in order to be able to catch up with the market which is constantly changing. This broker is quite universal and ensures decent execution. I have been working with hycm for the second year already. In general, I was satisfied with the trading conditions and the service provided.

HYCM review

HYCM is a Hong Kong company, and it was around since 70s. They build a large portion of their promotional campaigns on the factor of experience. Other companies may offer you different values, missions, etc. The logic is, they won’t try to scam or fraud you, thus risking their precious reputation. Tokenhell is a blockchain & crypto news agency where you can discover news about crypto coins, technical analysis, blockchain events and detailed reviews. None of the information you read on Tokenhell should be regarded as investment advice. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions.

Resources Offered by HYCM

I respect this broker for its reliability and a rich experience in the industry. My personal experience with this company proved that I can continue working with this brokerage service. I didn’t see any attempts to cheat me on the part of the broker and it applies to the trading process and withdrawals. I withdrawn my money, but recently made a re-deposit as decided to keep on trading, maybe I would succeed this time as well. I’m planning to keep on investing in stocks, as that’s the only one market I understand at least a little bit. Yes, it’s possible to open a joint trading account with another person, one should write to the broker’s customer service to get their official authorization.

  • Hycm has a quiz which helped me understand which account type to choose.
  • Of course with other respectable brokers, you never face those type of issues ( especially when it is very obvious it’s intentional and timely)..
  • I tried not to control him and didn’t interfere in his work too much.
  • Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas.

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He’s eager to help identify the characteristics of specific brokers, so the Forex brokers best match can be found for each client. Under your HYCM profile, you canopen more than one account with different account base currencies. For example, you can have both a EUR and USD account for MetaTrader 4 at the same time. Moving funds between accounts that have the same currency is free and instant.

Education & research on HYCM

If the support is poor, then all the disadvantages become even more prominent. Read our and learn why we recommend this broker for online trading and why it is not a scam, learn all you need to know in this HYCM review before you sign up with the broker. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation. If you know the login and password for your live trading account, click Login to Trade Account, and select the Henyep-Live server.

I have everything for normal trading

Being regulated and licensed by leading agencies around the world, HYCM ensures to protect the funds of clients at all times. There is a lot that awaits you on HYCM, so don’t hesitate to start trading on this broker today. After a detailed overview of the services that HYCM has to offer, we are able to say that it is among the best Forex brokers available in the market today. With over Forex brokers 40 years of history and experience in the market, HYCM is capable of providing traders with services like no other, which are individually tailored to the traders’ needs. The importance of education and a good understanding of the Forex trading market can’t be stressed enough. Once you deposit funds into your account, you will be able to access them from the trading platforms.

Non-Trading Fee

So, I need the ultimate reliability and that’s the reason I decided to open a Fixed account here. I’m not so interested in fixed spreads, although sometimes I trade at night when fixed spreads are most advantageous. In most cases, I open trades in the daytime and try to hold them as long as possible. The main thing is that the broker is very reliable, which is good for my long-term trading. It has more than 40 years of experience – one of the oldest brokers in the world. The broker HYCM offers very good spreads to trade, and there is an opportunity to open an account with both fixed and variable spreads. For example, on a Fixed account, fixed spreads start from 1.8 pips, no commission.

Deposits and Withdrawals

Though HYCM isn’t currently available in the United States, it can be a great choice for residents of the other 140 countries where it offers service. Of course at the first stage there can be some problems.

The MetaTrader 4 platform comes in a web app, android, and iOS application versions for traders’ convenience. The mobile applications are more inclusive as traders can connect to financial markets by tapping on the application on their phones. It also keeps them updated through push messages and notifications. The apps are also easy to use during travelling or anywhere you can not turn on your laptop or computer. HYCM shows professional experience in the financial markets. Investors can start with good conditions to trade forex, CFDs, and more.

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