United Kingdom, FCA
The HYCM brand has grown to be well recognized among traders and investors in the financial industry. As part of the Henyep Group, the company builds its business on a foundation of 3 decades of operational history. For traders who are unfamiliar with the Henyep Group, they first began operations in 1977 as a member of the Hong Kong Gold and Silver Exchange Society. The group is also associated with the Hong Kong Futures Exchange in 1986 as one of the founding members.
FCA (license 186171) – The Financial Conduct Authority is a financial regulator which regulates the activities of brokers on the Forex market, thereby protecting the interests of investors and traders. The main goal of the organization is the support and maintenance of the integrity of the UK financial industry. FCA regulates the activities of Henyep Capital Markets, whose office is in London (license 186171).
CySEC – Cyprus Securities and Exchange Commission – a regulator of financial markets operating on the foreign exchange and stock market (in Cyprus and EU countries) and enforcer of subsequent control, audit of subordinate companies, detection of offenses by the company and further transfer of materials for subsequent proceedings in government agencies, the imposition of penalties in case of violations (disciplinary and administrative). CySec regulates the business of HYCM (Europe) Ltd (license number 259/14).
Regulated by: FCA/ CySEC
Headquarters: United Kingdom
The company operates globally and offers its services to everyone but citizens of countries such as Japan, USA, Hong Kong, Belgium, and Afghanistan. HYCM clients are offered a variety of investment instruments: currency pairs, precious metals, stocks, indices, commodities and more. Around the clock qualified support is available for traders in several languages, in addition to loyalty programs, contests, competitions, trust management, and PAMM accounts. You can use the economic calendar, news, charts, currency converter to your liking.
For rookie players, the website provides free educational material like training videos and webinars. The company offers a wide range of trading platforms: the popular MetaTrader 4, HY Webtrader, HY MT4 Webtrader, and HY Pro Trader (for professional traders and investors, provides direct access to stock quotes), as well as their mobile versions. To test the capabilities of a broker and get a taste of what is to come, you can use a free demo account.
Trade with: stocks, indices, commodities, currencies, precious metals
Free educational material
Trading platform: MetaTrader 4, Webtrader variations
Demo account available
There are 3 different account types at HYCM:
Each company trader can get 2 types of bonuses:
In order to make your first deposit, it is necessary to go through the registration procedure at the broker’s site. Deposit the minimal amount of $100 or more by choosing the most convenient method. You can use modern payment systems – from the usual bank cards to electronic wallets:
The account opens either in USD or EUR. The money is immediately available in the account for trading after the payment. Withdrawal is possible only for authorized traders, carried out up to 4-8 business days (bank transfers) or instantly (e-wallets). All payments through electronic payment systems are free of charge. Bank transfers have commissions, but the official website has a list of partner banks, cooperation with which will reduce these costs.
HYCM has certainly earned it place on the market considering the 40 years of experience that the company has. Unfortunately, all that time spent operating does not guarantee it will be any better than the competition, which it isn’t. Most of what the company provides you with is enough to sustain your trade operations for a bit, but as time passes, you will begin to notice some of the drawbacks. The conditions that the site offers for trade aren’t exactly satisfactory, the customer support team can prove to be hard to reach at times. HYCM also has very few bonuses available for its clients, which is usually enough to push away first timers looking for a bigger piece of the free pie.