Broker HYCM offers clients a low threshold to enter the financial markets, setting a minimum deposit of just $100. This makes trading accessible to many investors, including beginners who may not be ready to commit large sums initially. The broker provides access to the MetaTrader 4 and MetaTrader 5 platforms, recognized for their reliability and functionality in the industry. The variety of trading instruments and extensive educational resources help traders build diversified portfolios and develop their skills. HYCM, based in London, is a company that has been serving the financial market for over 40 years.
BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. HYCM (formerly HY Markets) has established a global reputation for excellence and professionalism that is hard to come by in today’s marketplace.
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- The broker supports both MetaTrader 4 and MetaTrader 5, along with a proprietary platform, offering flexibility to traders of all levels.
- These are some of the lowest commission fees that you will find, putting HYCM up there with RoboForex in terms of low fees.
- While the products offered by one of the best CFD brokers include prices from the underlying spot markets, clients can also trade in a variety of futures CFD contracts in commodities and stock indices.
- As for the funding methods, HYCM accepts credit/debit cards, bank transfers, Skrill, Neteller and Webmoney with no additional deposit fees.
- We also offer special accounts for VIP and Corporate clients who actively trade larger volumes.
This is super important because it helps them manage how much risk they’re taking and understand possible gains or losses. HYCM offers a range of tools to assist traders in their forex trading activities. Among these tools are the Pip Calculator, Currency Converter, and Margin Calculator. HYCM has a good rule for when you want to withdraw money out of your trading account.
Deposit Options and Fees
Additionally, MetaTrader 5 allows traders to place 6 types of pending orders and take advantage of an integrated economic calendar for daily macroeconomic reports and other key events. The platform supports multiple languages, favouring a wider community of traders, and also allows access to the Trading Central tool. As you might expect of a firm of longstanding, HYCM offers a multitude of ways to deposit and withdraw funds.
HYCM (Henyep Capital Markets) mobile app screenshots
- HYCM clients who want to access interbank spreads through the Raw spread account are required to make a minimum first deposit of USD 200.
- However, there might be bank fees charged, for example, if you choose to conduct a bank wire transfer.
- When you want to add money to your HYCM trading account or withdraw, it’s quite easy.
- Moreover, you can start trading with a small amount of 0.01 with Classic Account, making it accessible even for beginners.
- As a large global player with 35 years of operational experience under its belt, HYCM can access the best pricing for its diverse list of investment instruments.
They promise that the money of their clients is put in different bank accounts, separate from their own money. Just make sure to deposit and trade in the same currency as your account’s base currency. This way, you can avoid the need for currency conversion, which can sometimes lead to additional charges. With HYCM broker, you can manage your funds conveniently and efficiently. The smallest amount you need to start trading with HYCM changes depending on the type of account you want.
If you are looking for the best and prefer the comfort of knowing that your broker is heavy on compliance, especially when it comes to protecting customer deposits, then HYCM cannot be beat. As their website notes, “With over 35 years of operational history and under the leadership of a visionary management team, Henyep has become synonymous with professional and quality services. The Group is dedicated to delivering best-of-breed services to its clients and the community alike.” Going with a leader fxcm review like HYCM definitely has its benefits.
HYCM offers its clients both live and demo accounts with a choice of different account types according to individual requirements. When it comes to margins, they largely depend on the financial instrument and the regulations governing the forex broker. HYCM, also regarded as one of the best CFD brokers in the industry, offers the lowest margins to clients signing up with HYCM Ltd, authorized and regulated by the Cayman Islands Monetary Authority. HYCM is a MetaTrader CFD broker, offering all clients the choice of MT4 and MT5 platforms across xtb review computers and mobile devices.
Here are some of the educational resources and features provided by HYCM. This HYCM review will explore more about its regulatory compliance, account types, user-friendly platforms, and educational resources. Similar to fixed spread accounts, a standard account can be opened with an initial deposit of as low as $100, and the minimum trade volume allowed is 0.01 lots.
Trading Platforms
A dedicated educational section, live webinars, and seminars show the broker’s commitment to educating its clients. 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. HYCM offers a well-rounded trading experience with strong regulatory oversight, a wide range of assets, and competitive spreads.
Transaction Fee
Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. HYCM allows clients to trade with virtual $50,000, which will be active for 14 days. Identity verification is mandatory for all clients wanting to start working with an HYCM broker. This is a regulatory requirement aimed at preventing money laundering, fraud, and other illegal activities. One of the key factors that set HYCM apart is its commitment to providing a secure and transparent trading environment. Upon abiding by the regulations from different regulatory bodies, they keep the trader’s money in segregated accounts, and their trades are done fairly.
Platforms and Tools
MT5 provides the options of an economic calendar as well as Expert Advisors. The Currency Converter is great because it uses the most recent exchange rates, which are like the prices of different currencies compared to each other. This way, the tool gives accurate answers for the conversions traders need to do. MT5 gives you even more options, like more ways to look at the time and different ways to order deals.
They have different trading platforms that people can use to trade and offer good prices and options to leverage. HYCM is one of the Forex and CFD market leaders whose reputation is backed by strict regulation by major financial authorities such as the FCA, CySEC and DFSA. This ensures high protection of the client’s funds and compliance with regulatory standards.
Most clients are satisfied with the support, although there are some negative reviews. The provided communication channels are extensive and available at questrade forex times convenient for most clients. The staff’s professionalism and the effectiveness of the solutions are also rated positively. However, some clients point out fund withdrawals and chat support issues, which slightly lowers the overall rating.
HYCM is not an ECN broker, but a market maker, which matches client orders internally without the need to connect to a liquidity provider. Thus, it operates a Dealing Desk model and as such, it may take the other side of its clients’ trades. Here are some of the contributions of the AxiTrader CFD broker towards educating clients on the forex and CFD markets. A quick analysis of the spread plus commission on the Raw Account and HYCM would easily qualify as one of the lowest spread CFD brokers in the industry.