- Established in 1977
- Segregates client funds
- Regulated by Financial Conduct Authority
- Doesn’t offer VPS
- Inactivity Fee
- Limited range of instruments
- Not ASIC Regulated
Company Information
HYCM (Henyep Markets) is a global CFD and Forex broker. It has been offering its services since 1977, that’s why it has earned respectable reputation. The broker regulated by several financial authorities around the globe, including the UK Financial Services Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Since it is regulated by the top-tier FCA, we may consider the broker one of the safest.
Markets
HYCM offers its clients over 300 instruments, which you can use in various asset classes. In other words, you can trade Forex, stocks, indices, cryptocurrencies, ETFs, and commodities, most of which are offered in the form of CFDs.
● Forex
● Commodities
● Indices
● ETFs
Trading accounts
HYCM has three account types with different conditions, the difference is mainly in amount of the first deposit.
- FIXED
- CLASSIC
- RAW
• Min deposit – 100$
• Fixed Spread – from 1.8 pips
• No commission
• EA – not available
• Min Trade volume – 00.1
• There is an Islamic account
• No bonus
• Min deposit – 100$
• Variable Spreads – from 1.2 pips
• No commission
• EA – available
• Min Trade volume – 00.1
• There is an Islamic account
• No bonus
• Min deposit – 200$
• Raw Spreads – from 0.2 pips
• No commission
• EA – available
• Min Trade volume – 00.1
• There is an Islamic account
• Bonus – 4$
Open an account
With regulation around the world, HYCM is available in most countries, except the USA, Hong Kong, North Korea, or Sudan, and some Canadian provinces. We are happy to conclude that the process is fully digitalized and it takes only10-15 minutes. Although, you need to provide the broker with the personal documentation, your address, and to receive a confirmation e-mail. After that you can start trading.
Minimum deposit
The minimum deposit at HYCM is just $100 for Fixed and Classic accounts. It increases up to $200 for a Raw account. This is a low minimum deposit comparing with other brokers.
Trading Platforms
HYCM is the broker as many popular ones using the platform MetaTrader. Besides, it offers both MT4 and MT5. The platform is very favorable for many customers, as it is very easy and convenient in use. So, it suits perfectly well for a beginner. Thanks, to its variety of tools it is also supported by many advanced players. If you want to find out more about this platform, just click here.
Our verdict
HYCN belongs to the world’s most liquid asset class. You can choose from their large range of currency pairs as well. Our time of experts was impressed to find out about such a long trading experience. Therefore, we can easily say that this is a trusted broker among many traders. Moreover, it is regulated by Financial Conduct Authority, which increases its confidence. However, do remember that the broker doesn’t offer VPS, it has an inactivity fee, it is not regulated by ASIC. We also believe that they offer not as much trading tools, as could have been desired. So, we do hope that we were at help for those who are considering to trade or not trade with the very broker.
HYCM Details
Good commission, very low spread.
Excellent attention of the employes and the ceo and founder.
The founding with skrill are fast without commision.
My favorite. They are excellent in every aspect. Tight spread, a wide range of instruments, fast withdrawals, no commissions for funding and very friendly support team. Strongly recommend them to all. Thank you for your services.
Withdrawals get processed really quickly(within 24 hours) and their platforms are reallu good. I have tried more than 20 fx brokers but probably this company is one of the best brokers I have used thus far. I highly recommend them to anyone…
I’m glad to come back here and give a positive rating to a brooker that I choose to try by reading the reviews right here. It’s important for us to know we can trust the opinion of other fellow traders to at least give it a try.
I’m liking HYCM very much so far. Low spread, no problems do depposit or to withdraw.
tested the support by email, chat and phone, all very accessible and ready to help. the range of products to trade is good too.
So far I have nothing to complain about or any reason to search for another brooker and say to others who like me was here looking for a brooker, I say give it a shot.
It has a very pleasant experience, since I opened an account with HYCM. Their customer service, the lowest cost of trading and speed of order execution have all been fantastic. Love dealing with them.
HYCM support and management team is a top notch, 24 hours support 7 days a week is remarkable. I am glad I opened an account with them
HYCM offer the lowest spread rates and have a great support, very trustworthy broker!
My opinion is that HYCM is so far one of the best platform and the services is very good.
i have traded with these guys for a little less than a year. But still don’t like their web site. It is not clear
Easy to fund but long to withdraw. The process takes about 1 week
Yesterday I tried to put some money to my trading account but it failed. I had tried about 5 or 6 times before I succeeded. I am not satisfied with web site work.
HYCM is the best broker I have used. Their staff Ben Clay took good care of my account and help me with all my queries promptly. With such proactiveness, I feel that I don’t have to switch broker anymore. I highly recommend anyone to start trading with this amazing team who do their due diligence to provide excellent customer service for their clients.
After long search and too many bad experiences finally my search is over with HYCM, its true they are the best when it comes to the trading cost and the customer support, keep up the good work guys.