HYCM is a forex broker that offers a variety of trading instruments to choose from. In addition to forex, clients can also trade real stocks on the HYCM trading platform and receive dividends as real investors in a company. They are fully regulated and licensed by regulatory bodies but they offer a customer service that does not reflect their class. Overall, I will settle that this broker is okay.
I'mma provide you with a brief overview of the services this broker offers.
Basically, all the positive features include:
- several account types;
- opportunity to trade with advisors;
- well-developed and structured HYCM Lab section with bunch of useful information;
- quick trading platforms from renowned software developer;
As for flaws, then I personally can't state that there is something I don't like. I quickly adapted to conditions and now feel like a fish in the water.
I like all the account types, I think they all suit different trading styles and nominal values of your trades and how often you trade, but I found the Raw account is suitable for my needs the most. Enjoying the conditions.
The main feature of Hycm is that it's a highly reliable forex broker which is valuable especially in the forex market.
However the trading conditions offered are average. There are multiple markets but the overall number of assets are not very big.
I would say that it's all nothing, except the commission on the Raw account. Hardly any scalper can appreciate such commission, even considered the spreads are great.
I rarely and uneagerly write reviews cuz I find it time-consuming. Nevertheless, at the same time, I understand that many traders who are still in search of their proper mediator on the market, are keen on reading broker's overviews. They are decisive for them at some point. HYCM is that type of a broker that may be considered as a primary one.
The company managed to implement many functions and pack'em up into one platform. There is an account selection, several trading platforms from renowned software distributor, recently the opportunity to become a real shareholder was added and so on. As for the latter feature, you can buy fractional equities just having $10 on hands. It's not the best option for pros, but they can also get involved into trading here.
There are certainly no limits to what can be achieved and what services can be offered in financial markets by brokers. But, as a trader, you actually don't need all the features if you're not going to use them. You only need the ones that can actually benefit you, and I think that is what HYCM is all about.
The quality of services they offer is immaculate, the feel of being valued you get when you are a client, and the superior access to all the markets they operate in is just what gives you power, it is their formula of doing business, and I like that really much. I feel the professionalism behind this business model, and it clearly works, otherwise they wouldn't be around for so long, would they?
This broker has all the necessary services for traders. Nothing extra and nothing fancy. All the basic stuff but those basic features are honed to perfection through all those decades of brokerage experience.
There are three accounts. One fixed, one variable and one raw. What else do you need?
Trading platforms are from the world-renowned trading software developer - Metatrader.
These platforms have proved over the years that they are the most reliable terminals ever.
Plus they are suitable for different goals: manual, algo, management and so on and so forth.
All in all the broker is for trailers that know what they want from the forex market. And also for beginners. You need to get accustomed to the best right from the start.
Once their representative cons you into trusting him it's downhill from there. You'll lose everything. Lies, deception, mismanagement of accounts, irresponsible risk management strategies... all this and more await you here. Stay away from them, act now.
And it has certain problems and difficulties at first, and unfortunately not everyone can cope with it. And that's okay. But if you are still interested in making things work out well and you want to understand the mechanisms of the market, then I will definitely recommend this company to you.
1) Low spreads.
2) Small commissions.
3) Quality customer service.
4) Instant withdrawal.
5) A wide variety of tools for technical market analysis.
On the good side, the team of this broker showed itself at the very beginning, as soon as it came to them. I had difficulty with replenishment. It was my mistake, but I myself could not figure it out. I knocked on support and received an answer surprisingly quickly. The chat manager got involved in my problem and quickly figured out what I needed. He gave a simple algorithm and the money was spent. Even then I started to like them) So far they have not disappointed, for which thanks. Professionals in their field.
Answer: It absolutely depends on you trading type, there is no bad or good types. Actually there is raw, fixed and classic. So and there is a lot of difference I would reccomend you to take a look at yourself becuase there is spread difference as well as difference in trading platforms and assets you gonna trade. And most important type, as I said, It is your trading style. If you are high frequency trader you gonna need different if you are low frequency you gonna choose different ones! So I wish you good luck with that hard decision!
Answer: Of coruse you can. These guys are legit in providing education and new perspectives for trading. Their articles go all around the trading communities and related webseites.
Answer: Hycm lab is a blog, I think so. It has a strange name to it but you can find a lot of useful information in there.
Answer: They are constantly developing, hiring new people, implementing new ideas and trying to have better and better products. They are constantly making new promotions and stuff like that. Trading brokerage is the place where it is very hard to find new ways to change the trading. But they are trying and I guess they will succeed.
Answer: Demo account. Please start with it. Only after you feel confident in trading on this account you can choose the type of real account that suits you best. The fact is that traders often choose the type of account based on the trading strategy that they use. That's why I would advise you to begin by creating such a strategy on a demo account.
Answer: Of course, why not? The number of trading platforms you trade on does not effect your process of skill development. The number of trades you make over time does. And one proper platform such as this one can and will be enough for that.
Answer: Yes, they provide a lot of useful information. I heard that one of the leading analysts of this broker has a kind of a blog. In this blog he shares some analytics. Unfortunately I forgot his name. But I believe that you will be able to find this blog by googling it.
Answer: Uhm... It can be done easily, you should find client portal and pick statements section. Determine the date range and enjoy your account statement.
Answer: Hi Luuk, Yes, we do offer an affiliate program, you can sign up as an affiliate here - https://hyaffiliates.com/ or you can email us at info@hyaffiliates.com for any queries you might have. Regards Harry Christodoulou Head of Affiliates
Answer: Yes, it is totally allowed. You can set up your expert advisors and can use MT4 for to deploy them to your automated trading structure easily. There's complete support for that.
HYCM has a rating of 3.5 stars from 190 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with HYCM most frequently mention trading conditions, raw account and long time. HYCM ranks 3rd among Brokerage sites.