Unregulated brokers pose a direct risk to the security of their client’s funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, hycm ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. Tier 1 is the official measure of a bank’s financial health and strength.Trading with hycm is risky, and because the market is so volatile, losses could happen at any time.
They support many charitable causes and organisations including Operation Smile, Hong Kong AIDS Foundation and The Community Chest of Hong Kong. I can probably speak for most of this generation when I say that charitable activities really put a good impression when choosing a broker. Henyep’s operations are headquartered in Hong Kong’s Central business district with regional offices in London, Dubai and Limassol.
Overall, we were very satisfied with the email support provided by hycm. If you’re looking for a broker with reliable email support, hycm is worth considering. Hycm has a triple AAA grade support and customer service rating because they offer various range of languages, live chat, and email support.
I closed a lot of deals and I’m generally satisfied with the execution. I don’t know what to tell you, maybe it’s because their solid roots and history and all that, maybe its because their platform that feels so integrated and complete, but I feel treated well here. We do not provide investment advice or solicitation of any kind to buy or sell any investment products.
Islamic Account Fees
- Execution speeds and spreads are very competitive whilst there are trading accounts suited to each individual trader’s needs.
- HYCM uses a dynamic forex leverage model, which is available only on the MetaTrader 4 platform.
- However, it might not be the best choice compared to industry leaders in this category.
- The broker is also compliant with MiFID, and clients receive negative balance protection and insurance.
- Its DFSA-regulated 🇦🇪 UAE entity also meets strict financial standards for retail protection.
Sign up for a live account at HYCM, and you will be ready to start trading within minutes. HYCM makes it easy to contact customer support, as you can select the message icon in the bottom-right corner of the page. Clicking on this gives you the option to simply click to contact support via Intercom (messages), Facebook Messenger, Telegram, WhatsApp, Viber, or Skype. Alternatively, you can click on “Live Chat” at the top of the website. You can also find and contact HYCM on Facebook, Twitter, LinkedIn, Instagram, YouTube, and CrunchBase.
Initially, I held gold trades with the expectation that prices would rise due to geopolitical issues. However, when my relationship manager flagged this strategy two months ago and advised against holding these trades for too long, I decided to close all of them. Overall, I’ve lost $9,000 in this account, and I am requesting to withdraw the remaining funds of approx $3,900 back to my original source.In summary, I find HYCM to be an unreliable broker. They can create withdrawal issues at any time and remove access to your MT4/MT5 account without warning.
The user-friendly economic calendar, which can be sorted by nation, category, impact, dates, and more, may help you keep track of market news events. Many analysts see the calendar as an essential component of basic analysis. You can also use the news calendar that is built-in the MT5 platform which might be more convenient. A wide range of topics is discussed, including the fundamentals of trading, trading psychology, chart analysis, and much more. Tutorials, videos, ebooks, trading methods, articles, and courses are available. Clients of HYCM have access to a variety of simple trading calculators such as Pip Calculator, Currency Converter, and Margin Calculator that can aid in trade planning and administration.
- But it is possible that the trading terminal will slow down or some of its functions will not work at full capacity, and this will lead to problems with capital in the future.
- It maintains a reliable trust score of 88, classifying it as “Trusted” according to ForexBrokers.com.
- The broker supports popular platforms like MT4, MT5, and its own HYCM Trader, ensuring a seamless trading experience.
- Taking into account the fact that I open many orders daily, it turned out to be very profitable for me.
- Like the Fixed Account, it doesn’t charge commissions and supports Expert Advisors for automated strategies.
Investment Options HYCM
You can use MetaTrader 4, MetaTrader 5, or the proprietary HYCM Trader app on iOS and Android to trade anywhere, with fast execution and full control over your portfolio. You can create a profile, manage funds, and trade over 300+ instruments—directly from your mobile device. It’s designed for users who prefer fast, all-in-one mobile trading. HYCM enhances the MetaTrader 5 (MT5) experience by combining advanced analytics, flexible order types, and powerful automation in one platform. Trade CFDs across five asset classes, benefit from 21 timeframes, and enjoy full mobile functionality, all within a fast, intuitive ecosystem. Payment options include bank transfers, credit/debit cards, and select e-wallets.
Testing HYCM’s Customer Support
I really appreciate to trade with this brokerage service because it has exceeded my expectations in terms of reliability. By the way, when I was making a decision to join this company, I didn’t know enough about this broker. They just told me that it’s an old but reliable broker and that’s all. As for the possibility to withdraw funds, it’s also hassle-free here. I had been trading for three months with the broker and then learned from hycm reviews that it’s one of the oldest brokers in the world started in 1977. There are lots of brokers actually which provide their services for traders, who are eager to reach something in trading activity.
HYCM Regulatory Overview
This allows traders to access diverse asset classes and enjoy competitive trading conditions. HYCM provides a wide range of reliable trading platforms, from the user-friendly MT4 to the more advanced MT5, as well as the mobile-optimized HYCM Trader app. Whether you prefer desktop trading or need the flexibility of mobile, HYCM offers tools that cater to both new and experienced traders, ensuring you have everything needed to execute your strategy efficiently.
With over 300 tradable instruments and full mobile compatibility, HYCM ensures you’re always ready to trade. MetaTrader 5 builds on MT4 with additional features like 21 timeframes, advanced pending orders, and a built-in economic calendar. It’s ideal for traders needing deeper market insights and broader strategy tools, all supported by HYCM’s trusted infrastructure. HYCM Trader is a next-gen mobile app that empowers traders to access over 300+ assets from one account.
HYCM prioritises the safety of customer finances, openness, and fairness. They’ve teamed with top-tier banks like Barclays and Eurobank to keep customer cash in segregated bank accounts that can’t be used for anything else. Fund withdrawals can be processed by using the same payment methods as with deposits.
These include the Pip Calculator, Currency Converter and Margin Calculator. My personal favourite when I was still a beginner was definitely the pip calculator since pips had always really confused me. HYCM are regulated by two of the most respected authorities which gives clients comfort that hycm review they are trading with a trusted and reputable broker. HYCM is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC).
Trade hundreds of the most popular assets in the global markets with HYCM, one of the leading forex brokers in the world with more than 40 years of experience. MT4 and MT5 mobile apps offer the same features as included on their desktop versions. Additionally, HYCM clients can access Primetrader – a mobile app build by HYCM experts with complete trading functionalities. No, HYCM covers all fees for credit card and e-wallet deposits, as well as bank wire withdrawals over $300. This makes it easier for traders to move funds without worrying about extra costs. HYCM delivers a platform for every trader, whether you prefer the classic reliability of MT4, the advanced features of MT5, or the sleek simplicity of the HYCM Trader app.
This is notably different from competing brokers, who often only disclose the calculations they use. HYCM provides various funding options to accommodate different trader needs. Traders can use Bank Wires, Neteller, Credit Cards, and Skrill eWallet for both deposits and withdrawals.
With HYCM trader can focus on his work and stop struggling to beat broker’s tricks. Every trader knows some brokers use all kinds of manipulations to provoke traders to lose money. I find it very nice of HYCM though that they’ve offered three different types of accounts with different approach to commissions.
Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings. As part of our hycm review, we review customer service options, response times and problem resolution effectiveness on the hycm trading platform. The hycm trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
This may sound too positive, but I like the fact that the Tier-1 broker accepts deposits starting from $100. Other top-league brokers accept deposits starting from $5,000-$10,000, but this broker is unique in this regard. The commissions are competitive and transparent, providing traders with clear and predictable trading costs. HYCM ensures its commission policies cater to the needs of traders at all experience levels. Variable spreads start as low as 1.2 pips, while raw spreads begin at 0.1 pips, providing tighter pricing for professional and high-frequency traders.