HYCM Review 2021 Pros and Cons Uncovered

On the other hand fixed spreads, that I have tried here, haven’t helped me much, on the contrary, I have “overpaid” much for sure orders. I liked the trading software and what this company promises so I stayed here and am now a HYCM broker trader. I have been trading here for half a year and have already started making good money. So there is a chance here to make money, but everyone will have to study and work a lot.

For this, you can fix any imbalances within your own account. To begin trading using HYCM, you need to deposit $100. Any processing fees from your bank will have to be incurred by you. Yes, trading through HYCM is a pleasant and decent experience indeed. It’s an excellent and intuitive platform with useful features for your simplicity.

In addition, the broker provides demo accounts for practice and a low minimum deposit of just $20 to get started. And finally, to make transactions smooth and easy, HYCM does not charge any deposit and withdrawal fee from its clients. I got interested in trading a few years ago, but I didn’t immediately decide to start trading.

  • MetaTrader 4 also known as MT4 is one of the top trading platforms on the planet and has been in active use on financial markets since 2005.
  • However, the availability of the markets is different.
  • I liked the trading software and what this company promises so I stayed here and am now a HYCM broker trader.
  • HYCM safeguards its clients’ personal and sensitive information under SSL encryption.

To have a better understanding of the difference in the level of commissions, let’s look at the conditions for execution of a standard lot of EURUSD on three account types. The table includes all expenses and all figures are converted in USD. The HYCM brokerage firm has a solid and trustworthy reputation in the current global economy. The timely broker provides professional services to traders while being strictly regulated and respected by them. In some cases, depending on the type of brokerage account you choose, you may be required to make a minimum deposit as high as 6500 GBP or USD.

HYCM offer Trading Central’s award winning analysis tools to use on their platforms to assist traders with their trading decisions. These tools include Alpha Generation, Risk Management and Indicators Lab. Trading Central third-party plugins can be installed on the MetaTrader platforms to further enhance technical analysis and to provide market forecasts and commentary.

HYCM offers traders the opportunity to trade stocks using CFDs. These are very popular assets, which are used by traders who do not want to buy the stocks themselves, rather, simply speculate on their price changes. You will find that the platform is regulated in a number of territories across the globe. This means that the online broker is authorised to provide services, not only in good faith, but because it has been vetted. For the year that I’ve been tradung with the company, very big changes did not happen. Someone says that the company is not developing, but I do not agree.

Trade Offer – A good choice of crypto trading options

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. The Classic account offers variable spreads from 1.2 pips.

You can view important news, check your trades, check your account there. It’s convenient for me to trade with such conditions. hycm review I withdrawn my money, but recently made a re-deposit as decided to keep on trading, maybe I would succeed this time as well.

hycm review

I remember that I was very happy that I found this test. By the way, I chose a classic account, and I traded on it for several weeks. After all, HYCM brokerage company has a strong and very reliable reputation in the financial market. The time timed broker, offering professional services to the traders while highly regulated and regarded by traders as well.

Can you open an account?

I started with demo account and with 100$ real money by using educational platform knowledges i start to make good trades. I can’t complain about this broker because it has not let me down yet. I opened a Fixed account because I needed fixed spreads for night trading. There are lots of advantages which can point this broker out from other brokers.

You should attentively choose a trading platform when registering a trading account with this broker. If you already have an MT4 trading account and want to shift to Metatrader 5, simply open a new account but choose MT5 this time. You can trade on both accounts or transfer funds from the MT4 one to the new account.

While MT4 is perfectly adequate for trading CFDs and forex, MetaTrader 5 comes with advanced features and functions. When traders click on any of the other data points, the information appears in the Market Watch panel. Traders can also right-click on a symbol and pull up a tick chart for a particular instrument.

Trade stocks

There are3 main types of trading accounts at HYCM , which differ in their pricing structure and the required minimum deposit. The key differences are shown in the following table. Online broker reviews crafted by our team of experts.

They offer a large range of options in their client accounts. HYCM gives access to customer support over livechat. Only the raw spread account delivers a suitable trading environment. HYCM provides traders with a trustworthy and secure trading environment. The Cayman Islands Monetary Authority and the Dubai Financial Services Authority regulated HYCM Ltd and Henyep Capital Markets Limited, respectively.

One of those adequate brokers with which it is pleasant to work. I expected a little more from its trading conditions, as to me they are too ordinary. https://broker-review.org/ But I am getting a little nagging here) It’s cool that there are several types of accounts from which you can choose a more suitable one for you.

hycm review

But in terms of trading conditions and service, HYCM outperforms them very well. And in terms of analytics too, I am very happy with the in-house analytics that HYCM provides to its clients. I opened a Fixed account because fixed spreads allow me to avoid chaotic drawdowns typical to floating spreads. I made up my mind to register a trading account with this broker once I learned about its very rich experience of working in the industry – more than 40 years. It immediately made this company trustworthy in my eyes.

Traders seeking a regulated and transparent broker that offers its clients access to over 200 forex and CFD instruments may find HYCM suitable. HYCM is a leading provider of contracts-for-difference and forex trading services with an operational history of over 40 years. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions.

Big economic giants’ financial and economic decisions impact the financial market, so it is very important to stay connected with it. HYCM has been offering a wide array of instruments, including Forex, Stocks, Indices, Cryptocurrencies, Commodities, ETFs, and Cryptocurrencies. They are definitely a fraudulent company that would throw ambiguous technical reasons for you to make you accept how you got ripped of your money… Generally the most profitable trending strategies and it is logical and understandable.

Regulation and Deposit Insurance – All above-board in our HYCM review

Instead of charging a flat-rate fee, forex brokers typically charge a spread between the bid price and the ask price of a currency. HYCM offers a varying fee structure, which allows investors to choose the spread option that’s best for them. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders.

In this review, we tested the fees of the Classic account. It offers a wide selection of quality educational tools. First of all, I like the excellent trading conditions.

Commodity.com is not liable for any damages arising out of the use of its contents. When evaluating online brokers, always consult the broker’s website. Commodity.com makes no warranty that its content will be accurate, timely, useful, or reliable. As a long-established and internationally regulated CFD broker, HYCM clients are assured of trading with a regulated trading platform. Because HYCM is regulated within the EU, they are unable to offer sign-up promotions due to the Markets in Financial Instruments Directive .

In the meantime, I trade here on MT5 because I need to watch the Depth of the Market. I registered at HYCM on the recommendation of my friend. Go to the corresponding section of their official website for more deteails. I chose HYCM as my broker because of its regulation and positive reputation on the market.

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