9 Trading Features To Review Must About HYCM Broker

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9 Trading Features To Review Must About HYCM Broker – Binoption

HYCM broker is a trading broker that has been operating for more than 40 years. Henyep Capital Markets is a top regulated broker that is licensed by 3 regulatory bodies.

HYCM offers all kinds of trading assets under their portfolio. We will discuss their key features in this guide. However, for a more detailed analysis, check out our in-depth HYCM broker review

Infographic on HYCM Broker

High Capital Risk Is Involved In Financial Trading

Basic Information:

HYCM started their trading journey by providing Forex and CFD trading. Currently, they offer forex, stocks. indices, cryptocurrencies, and commodities. They have been operating for 40 years.

Why HYCM?

  • Minimum deposit $100
  • Max Leverage of 1:200
  • Min Withdrawal of $20
  • 3 different account types
  • Spreads as low as 0.2 pips

Demo Account

You will be provided with a demo account worth $50000. You can run this demo for as long you desire.

HYCM Tools:

HYCM provides several tools to make trading easy for their traders.

  • Economic Calendar
  • Market Outlook
  • Calculators News

Trading Bonus

Traders will receive 10% bonus on their first deposit. Upon verifying your phone number, you get $20 trading bonus.

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HYCM Regulation:

You get multiple Regulations from top regulatory bodies. HYCM is regulated by 3 regulatory bodies: FCA, CySEC, and CIMA.

Awards

HYCM is the proud winner of multiple awards.

Advantages

  • Wide range of trading assets
  • High Leverage and Low Spreads
  • Bonus on deposit

Disadvantages

  • US traders are not accepted
  • No prorietary trading platform
  • Slow customer support

Account Types

There are 3 account types offered by HYCM

  • Fixed
  • Classic
  • Raw

Education

HYCM’s education section is one of the largest and contains comprehensive educational material on forex trading.

These are the key features of HYCM trading broker. You can choose HYCM for all your trading needs.

HYCM Review

HYCM is part of Henyep Markets, a company with more than 40 years of experience since it first opened in 1977. This review of HYCM forex broker finds that you can trade more than 300 instruments with spreads as low 0.2 pips and an average execution time under 12 milliseconds.

You can use HYCM to trade forex, stocks, cryptocurrencies, indices, commodities, and ETFs.

The group behind HYCM, Henyep Markets, has five offices in leading financial centers around the world and service in more than 140 countries.

With its regulation in multiple jurisdictions, you can easily trust HYCM to keep your funds safe and provide the services you expect while complying with all regulations.

Explore more of our HYCM review 2020 to learn even more about this trusted forex broker and then open an account.

  • Trading with MT4 and MT5 supported
  • Award-winning customer service
  • Trade forex, cryptocurrencies, stocks, indices, ETFs, and commodities
  • Regulated in several jurisdictions
  • Withdrawals sometimes take several days

Company information

As mentioned, HYCM was founded in 1977, giving the company over 40 years of experience. HYCM strives to deliver super-efficient service, offering low-cost trading and fast execution via the use of cutting-edge technology.

Henyep Capital Markets Group has businesses in financial services as well as charity, education, and property. It has representation in Dubai, Cyprus, Hong Kong, and the United Kingdom with regulation by multiple administrative bodies.

The broker’s group has received 15 global excellence awards. HYCM itself has received more than 20 global awards, including best forex broker, best trading platform, and best customer service. Best forex broker honors have been both global and regional, with honors in the Middle East, Northern Europe, Southern Europe, Eastern Asia, Europe, and more. Honors for the best trading platform have been awarded to the HYCM for both its mobile and desktop platforms.

HYCM regulation and licensing

This HYCM forex broker review can confidently set traders minds at ease as this broker is highly regulated around the world, including the FCA, CySEC, CIMA, and DIFC.

The Financial Conduct Authority (FCA) authorizes and regulates Henyep Capital Markets (UK), with 186171 as the reference number.

The Cyprus Securities and Exchange Commission (CySEC) regulates and authorizes HYCM (Europe) Ltd with license number 259/14.

The Cayman Islands Monetary Authority regulates and authorizes HYCM Ltd with reference number 1442313.

The Dubai Financial Services Authority (DIFC) regulates and authorizes Henyep Capital Markets (DIFC) Limited with license number 00048.

Additionally, HYCM Limited is registered in Saint Vincent and the Grenadines as an International Business Company with registration number 25228 (IBC 2020).

As you review HYCM regulation, keep in mind that the broker does not offer services to residents in the United States of America, Hong Kong, Japan, Afghanistan, or Belgium, along with some other regions, due to legalities.

To keep client funds safe, HYCM complies with all the rules from the above regulatory bodies. This includes fully segregating client funds. If HYCM goes bankrupt, which is unlikely, client funds will never be used to pay creditors.

Opening an account with HYCM

A review of the HYCM forex broker account creation process revealed registration to be incredibly simple. It is all done online and should only take minutes to complete.

What is the minimum deposit at HYCM?

The minimum deposit to open an account and begin trading with HYCM is $100.

How to open an account at HYCM

The entire process of opening an account takes place online.

  • Step 1: Click Open an Account in the top right corner of the website.
  • Step 2: Enter your first name, last name, email address, and phone number.
  • Step 3: Confirm your phone number and email address.
  • Step 4: Provide the relevant documents within seven days of opening your account.

As part of the process of opening an account, you will need to provide HYCM with the following information:

  • Personal information – Your full name, your full address, your birthday, a photo of you, your address, your phone number.
  • Regulatory information – The above personal information and below documentation are part of the regulatory Know Your Customer requirements.
  • Documentation – You will need to provide a copy of your National ID card or passport. You will also need proof of your address via a utility bill or bank statement from the past three months. If you make your initial deposit via a credit or debit card, you will also need to provide a photocopy of the front of the card.

All the relevant documents can easily be uploaded via the client portal. If there are problems with this, you can also email the documents, including your account number and username.

Account types

Our HYCM broker review outlines three account types from HYCM. Each offers a unique trading environment to meet the differing requirements of its clients.

Fixed accounts have a minimum deposit of $100, no commissions, fixed spreads from 1.8 pips, minimum trade volume of 0.01 and do not support Expert Advisors.

Classic accounts have the same minimum deposit and minimum trade size. There are no commissions and variable spreads go from 1.2 pips. Expert Advisors are supported.

Raw accounts have minimum deposits of $200 and have raw spreads from 0.2 pips plus commissions of $4 per round. They have the same minimum trade volume and support Expert Advisors.

VIP accounts are also available with dedicated account managers, better spreads, and comprehensive market analytics.

Islamic accounts

Fixed, classic, raw, and VIP accounts are all available as Islamic accounts. These accounts are both interest and swap-free, but some additional fees may apply depending on trading instruments.

Demo accounts

HYCM also offers free demo trading accounts. These function just like real accounts and let you use the MT4 platform with USD or EUR as your base currency. You can trade $50,000 of virtual money for 14 days. Demo accounts from HYCM are unlimited with the ability to fund them at any time. The demo account lets you practice trading, or test out your strategies, or the HYCM product and offering before committing real funds.

HYCM trading costs

Below you will find a table with a detailed review of HYCM forex broker’s trading costs. HYCM is fully transparent and provides a thorough breakdown of all fees and commissions associated with their services.

Trading Fees*
Type of Fee Cost
Minimum Order Size (lots per trade) 0.01
Average Spread USDEUR (pips) 1.4 (Classic Account; 0.2 on Raw Accounts)
Commission (%) None ($4 per round on Raw Accounts
Commission on Islamic Accounts (%) None ($4 per round on Raw Accounts)
Non-Trading Fees
Type of Fee Yes or No
Inactivity Fees Yes
Deposit Fees No
Withdrawal Fees No (If over $300)

*Based on standard account type.

Trading fees

The trading fees as outlined in this HYCM review 2020 depend on your account type. There are no commissions for Fixed and Classic accounts. Spreads for these accounts are around the industry average.

Raw accounts have tight spreads that are among the best you will find, but there are commissions. The $4 commission per round is on the lower side of the industry average.

Financing/overnight rates

As expected, HYCM provides a detailed list of the overnight and rollover rates. Additionally, HYCM has created an interest calculator for its clients. The broker is also transparent about the calculation method, outlining in the HYCM FAQ section that swaps are calculated as follows: the interest rate (percent) x contract value (daily close price times contract size) / 360 to get the overnight finance fee.

Depositing fees

As is the industry standard, the HYCM online forex broker does not charge for deposits. Keep in mind, however, that your bank may charge a fee. If it does, HYCM automatically deducts that fee from the deposited amount.

Withdrawal fees

Most withdrawals from HYCM do not have fees, including those over $300. In those cases, your bank may charge a fee, these would be deducted from the amount that you receive into your external account. Although there are not normally fees for withdrawals to e-wallets, transactions over $5,000 made by Neteller or Skrill do have a 1 percent processing fee.

Non-trading fees

HYCM charges a $10 administrative fee for inactive accounts. This is charged every month until your account is active again. HYCM considers an account inactive if there is no activity for 90 days. If an inactive account has a $0 balance, it is considered dormant and HYCM may close it.

HYCM payment methods

This HYCM broker review finds that the variety of payment methods available on HYCM makes the broker accessible to a range of potential clients. There are no fees for deposits or withdrawals in most cases.

Bank wires usually take one to seven working days to process for deposits and one to five for withdrawals.

Deposits via Visa, MasterCard, WebMoney, Skrill, or Neteller take up to one hour to process, as do withdrawals via those methods.

As is expected, withdrawals from HYCM must returned to the same payment method as was used to make the deposit for legal reasons.

Payment processing is secure, regardless of the deposit method used. The payment processor varies by region, but all payment processors that HYCM uses are authorized by a regulatory body. Safecharge Limited, for example, is a wholly-owned subsidiary of SafeCharge International Group Limited and the Central Bank of Cyprus authorizes it as an Electronic Money Institution. That payment processor is a principal member of both Visa Europe and MasterCard Europe.

HYCM trading bonuses

HYCM does offer a trading bonus, depending on the branch of HYCM that you open an account with. The current bonus offering in this HYCM forex broker review applies to clients of HYCM Limited, the branch that the Cayman Islands Monetary Authority regulates. It does not apply to HYCM (Europe) Limited or Henyep Capital Markets (UK) Limited. The bonus comes in the form of a credit bonus of a set percentage on deposits.

Additionally, you can become an HYCM partner, which is a good option for those with forex trading experience or those with financial clients. There are three partnership programs available.

The Affiliate Program includes mobile-optimized trading tools, round-the-clock analytics access, and a dedicated affiliate manager. The Introducing Brokers program includes events support, customizable advertising and marketing tools, free market reviews, and multi-level marketing rebate tiers. The White Label Partners program includes own-branded trading platforms and website, full back-office support with reporting tools, and flexible compensation structures.

HYCM trading platforms

HYCM provides access to the best forex trading platforms, MetaTrader 4 and MetaTrader 5, which are considered the industry standards, although there is no web trader available. This HYCM review 2020 strongly commends the use of these popular and familiar platforms, as they are intuitive to use, and most traders will have experience using them. Additionally, the popularity of MT4 and MT5 means that there are numerous tutorials available online.

MetaTrader 4 allows for Expert Advisors for 24/5 trading with easy installation and no third-party bridges. It provides access to the full selection of more than 300 instruments across five asset classes. HYCM supports MT4 as a desktop download or a download for mobile devices, which is available for both Android and iOS. MT4 also includes technical analysis right on your live charts with support for Trading Central.

MetaTrader 5 also has support for technical analysis via Trading Central, but it features even more technical analysis tools. This platform provides access to 44 analytical objects, 38 technical indicators, unlimited charts, and 21 time frames. MT5 is also available as a download for desktop computers, Android, or iOS devices.

What is the execution policy at HYCM?

A review of the HYCM forex broker’s execution policy shows that it acts as a market maker for its dealing desk. The execution policy is clearly outlined in a downloadable PDF. HYCM refers to its execution policy as being an “execution-only” platform as the broker takes care of buying, selling, and subscribing for the underwriting securities by acting as an agent.

HYCM also uses “reasonable diligence” to execute transactions with the best execution for clients.

HYCM markets and products

Using the HYCM forex trading platform gives you access to forex, stocks, indices, cryptocurrencies, ETFs, and commodities.

HYCM Markets and Products
Instrument Number
Currency Pairs 69
Indices 28
Cryptocurrencies 14
Stocks 187
ETFs 20
Commodities 17

Forex

Compared to other brokers, this review of HYCM forex broker finds that it has a very nice selection of currency pairs, on the higher side of average. The maximum leverage for forex is 1:200 so margins can start at just 0.50 percent. The spreads are as low as 0.2 pips with Raw accounts. As an example of spreads, 0.2 pips apply to EURUSD, with Fixed accounts having minimum spreads of 1.8 and Classic at 1.4, also for benchmark EURUSD.

Indices

Trading indices on HYCM provides access to global equity markets, letting you trade the market movement. The maximum leverage is 1:200. As an example of spreads, the US 500 Index CFD has a minimum spread of 0.5, 0.2, and 0.2 for Fixed, Classic, and Raw Accounts, respectively.

Cryptocurrencies

Cryptocurrency CFDs are a high point in this HYCM broker review as they let clients trade these assets without owning the underlying asset. There is an impressive selection of cryptocurrencies available, with a total of 14 pairs, including 13 cryptocurrencies paired with USD in addition to BTCEUR. Spreads vary, with the minimums for BTCUSD at 3500, 3210, and 3210 for Fixed, Classic, and Raw Accounts, respectively.

Stocks

Trading stocks on HYCM is done via CFDs. This allows for leverage of up to 1:20, so the margins start at just 5 percent. The availability of stock CFDs lets traders access leading brands from around the world. As an example of spreads, look at Apple, which has minimum spreads of 23, 21, and 21, for Fixed, Classic, and Raw Accounts, respectively.

Clients can also trade Exchange Traded Funds with HYCM with leverage of up to 1:20. As an example of spreads, look at iShares Silver Trust which has minimum spreads of 8, 5, and 5 for Fixed, Classic, and Raw Accounts, respectively.

Commodities

Trading commodities on HYCM also involves trading CFDs, allowing you to trade them without having to own the underlying asset. This type of commodity trading also allows for leverage, which can be up to 1:333. As an example of spreads, look at Spot Gold, which has a minimum spread of 40, 32, and 20 (with $5 commissions per round) for Fixed, Classic, and Raw Accounts, respectively.

Social Trading

HYCM does not offer copy trading. However, the platforms do support Expert Advisors to allow for some automation.

Mobile compatibility

HYCM’s full website runs perfectly on your mobile device without a problem. It loads well and quickly and gives you access to the complete features available on the desktop version. Both trading platforms, MetaTrader 4 and MetaTrader 5 have downloadable applications for Android and iOS.

This mobile compatibility makes it easy to trade on the go with an HYCM account, which busy clients will appreciate.

Research tools

As mentioned, both the MT4 and MT5 trading platforms supported by HYCM offer integrated technical analysis right on the charts, with dozens of indicators. This allows experienced traders to create trading strategies and conduct research with ease.

Additionally, our HYCM forex broker review panel has seen multiple research tools on the broker’s website. The Market Outlook page features an economic calendar, including times, titles, and countries in addition to figures for volume, consensus, previous, and actual impacts.

There are also convenient calculators on the HYCM web page, including for pips, currency conversions, and margins. Traders will also appreciate the News page on HYCM, which features relevant market updates in addition to expert analyses on the most popular assets available from the broker.

Education and training

In addition to the previously mentioned demo account, our HYCM forex broker review finds that traders of all skill levels will appreciate the various educational resources available. The Education section is vast, including videos, tutorials, ebooks, and overviews of strategies. There are articles and guides for all skill levels, with topics such as market analysis, trading psychology, basic and advanced technical analysis, and a glossary.

There are also tutorials on how to use their trading platforms, which help prevent beginners from potentially feeling overwhelmed. You will also find guides on various strategies, perfect for beginners or advanced traders who need a refresher.

To supplement the always-available online educational content from HYCM, our HYCM review 2020 encourages traders to attend one of the broker’s workshops or webinars. There are weekly forex webinars that feature live market analysis and look at the week ahead. You can also view upcoming workshops or visit this page to view past webinars.

For those who prefer in-person education and training, HYCM also has seminars at venues around the world. For each seminar, you can view the time, date, title, and topic.

HYCM customer support

Our HYCM review team agrees from contacting this broker through both email and Live Chat that their customer service was responsive and helpful. The FAQ page is extensive with clear divisions by category that makes it easier to find answers to your questions.

The Live Chat is easily accessible at the top of the HYCM website or the bottom right corner in a floating button. HYCM also offers customer support email addresses and phone support. You can additionally connect with HYCM via Facebook, Twitter, or Google+.

FBS – Our verdict

After a thorough review of HYCM forex broker, it was revealed that this is a reputable site with regulation from multiple organizations, a nice selection of assets for trading, and reasonable spreads.

Sign up for an account with HYCM to have access to a fantastic selection of instruments, a top-notch choice of platforms, great customer support, and more.

HYCM Review 2020

HYCM is an award winning, multi-regulated broker with over 40 years of experience providing a range of assets to traders across the globe with high speed trade execution, tight spreads and competitive trading costs.

HYCM Review 2020, Pros & Cons
  • Strict regulation
  • Fixed spread accounts
  • Commission free accounts
  • Multiple deposit / withdrawal methods
  • Segregated client funds
  • Multiple awards
  • High speed trade execution
  • Competitive costs
  • Trading Central
  • No US clients
  • Restricted leverage for EU clients
  • Limited trading platforms

In this detailed HYCM review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

HYCM is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including HYCM.

HYCM Review: Summary

HYCM is a multi-regulated broker that has been providing trading services to clients across the globe since 1977. They offer a range of assets to trade across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. They have established themselves as one of the leading providers of FX and CFDs.

HYCM has over 40 years’ experience and have been regulated in the UK since 1998. They process around 25,000 orders each day with fast execution and 24/5 customer support with dedicated personal account managers available. There are over 300 trading instruments to trade across 6 asset classes with spreads from 0.2 pips and an average execution speed of just 12 milliseconds.

HYCM put a strong emphasis on providing excellent trading conditions with large liquidity pools, high speed trade execution, tight spreads and competitive trading costs. They embrace the latest innovative technologies in order to cater to traders ever demanding needs.

HYCM have accumulated over 15 global awards for their trading services, including Best Forex Broker, Europe 2020 and Best Forex Broker, UAE 2020. This has helped them gain recognition as an industry leader and to become one of the online brokers of choice for many traders worldwide.

HYCM Review: Awards

HYCM have a solid background as they are part of the Henyep Capital Markets Group, which is an international conglomerate with businesses in financial services, property, education and charity. They support many charitable causes and organisations including Operation Smile, Hong Kong AIDS Foundation and The Community Chest of Hong Kong. Henyep’s operations are headquartered in Hong Kong’s Central business district with regional offices in London, Dubai and Limassol.

HYCM Review: Regulation

HYCM are regulated by two of the most respected authorities which gives clients comfort that 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).

HYCM Review: FCA & CySEC

This regulation means that HYCM must abide by strict regulatory requirements. They must undergo regular third-party audits to ensure that they are maintaining the highest standards with a qualified compliance officer ensuring their compliance with all regulatory responsibilities, fair treatment of clients and resolution of complaints. It is a legal requirement for them to submit financial reports and prove their capital adequacy.

HYCM operate in accordance with the European Market Infrastructure Regulation (EMIR), where it is a legal obligation for all EU firms to report all derivatives to trade repositories. They report all clients’ executed trades through UnaVista, the LSE global hosted platform (FCA) and DTCC (CySEC).

Safety of client funds, transparency and fair practice is a top priority to HYCM. They have partnered with top tier banks such as Barclays and Eurobank to hold client funds in segregated bank accounts so they cannot be used for any other purpose.

Clients are further protected by the Financial Services Compensation Scheme (FSCS) up to £50,000.00 and the Investors Compensation Fund (ICF) up to €20,000.00, for eligible claims.

HYCM are also MiFID compliant. The Markets in Financial Instruments Directive (MiFID) is a set of stringent EU laws to help ensure that the financial markets are transparent and investors are protected.

They are also regulated by the Dubai Financial Services Authority (DFSA) and the Cayman Island Monetary Authority (CIMA).

HYCM Review: Regulation

HYCM Review: Countries

HYCM have some regional restrictions. They do not offer their services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, Japan, the United States of America and some other regions. Some HYCM broker features and products mentioned within this HYCM review may not be available to traders from specific countries due to legal restrictions.

HYCM Review: Trading Platforms

HYCM offer the online brokerage industry standard MetaTrader platforms. Most trading brokers have these platforms which makes them one of the most popular choices. MetaTrader was developed by software company MetaQuotes and has continued to grow over the years, often the go to platform for new traders.

MetaTrader 4 (MT4) Platform

HYCM offer one of the world’s leading trading platforms, MetaTrader 4 (MT4). It is considered to have a user-friendly interface and is thus very popular amongst many traders of all experience levels from across the globe.

MT4 utilises advanced technology to provide a powerful and flexible trading solution for all types of traders. MT4 is available on desktop (Windows / MAC), web and mobile (iPhone / iPad / Android / Tablet).

MT4 is customisable to suit your own unique preferences with a large collection of built in indicators and trading templates for technical chart analysis. You can also create your own indicators, templates and automated trading systems. There are 100 instruments available to trade through HYCM’s MT4 platform.

The key features of the MT4 trading platform include:

  • User friendly platform with many online tutorials available
  • Fully customisable charts & user interface to suit your trading style
  • Supports multiple chart styles, order types & timeframes
  • Vast collection of built in trading tools including technical indicators & graphical objects
  • Conduct in-depth technical & fundamental market analysis across a large selection of trading instruments from multiple asset classes
  • Automated trading through the use of expert advisors (EAs)
  • MQL4 programming interface to create customised indicators, scripts & EAs
  • Strategy tester for back testing EAs over many years of historical data
  • Large online community where you can get additional tools for the platform & copy trading signals
  • Alert notifications via SMS, email & pop-ups
  • Available on desktop, web & mobile devices (iOS & Android)

HYCM Review: Trading Platform (MT4)

MetaTrader 5 (MT5) Platform

HYCM also offer MetaTrader 5 (MT5) which is similar to MT4 with some additional features including additional timeframes, more technical analysis indicators and an integrated economic calendar. MT5 also has around 300 trading instruments compared to the 100 on MT4. Despite the fact that the MT5 platform has more capabilities than MT4, the older platform still remains the most popular amongst traders. This is perhaps due to the fact that MT4 has an abundance of additional custom indicators and EAs available online.

HYCM Review: Trading Platform (MT5)

Mobile Trading Apps

Mobile trading is possible with the MetaTrader app for iOS and Android devices. This is useful if you plan to trade on the go. You can open, manage and close orders with complete control over your trading account from your mobile phone or tablet. The MetaTrader apps maintain most of the core features as the desktop platform. It is very user friendly with a simple layout and modern interface for quick and easy trading from within the palm of your hands.

HYCM Review: Trading Platform (MT4 mobile app)

HYCM Review: Trading Tools

There is a selection of tools that many traders will find useful on the HYCM website. These trading tools can compliment those already built into the trading platform very well. They can increase market analysis capabilities and overall trading efficiency.

Trading Calculators

HYCM clients have access to a selection of easy to use trading calculators that can help with trade planning and management. These include the Pip Calculator, Currency Converter and Margin Calculator.

Economic Calendar

You can keep track of market news events with the user-friendly economic calendar which can be filtered by country, category, impact, dates and more. The calendar is considered by many experts as an imperative aspect of fundamental analysis.

Market Outlook

The market outlook provides the latest news, commentary, fundamental and technical analysis. It is updated frequently and goes into great detail including illustrated charts. This can help to inspire potential trading signals whilst also being useful if you have an open position you are keeping tabs on.

Trading Central

HYCM offer Trading Central’s award winning analysis tools to use on their platforms to assist traders with their trading decisions. These tools include Alpha Generation, Risk Management and Indicators Lab. Trading Central third-party plugins can be installed on the MetaTrader platforms to further enhance technical analysis and to provide market forecasts and commentary.

Alpha Generation

Alpha Generation has 3 tools to help with your trading:

Analyst Opinion Indicator

This indicator overlays research, forecasts, commentary and key levels (support/resistance/targets/stop pivots) from Trading Central’s analysts directly onto your charts. It displays the latest opinion of Trading Central analysts based on various timeframes on an intraday (30 min chart), short term (daily chart) or midterm (weekly chart) basis. You can program and fill in orders based on the analyst’s levels.

HYCM Review: Analyst Opinion Indicator

Adaptive Candlesticks

Trading Central Adaptive Candlesticks (TCAC) will mark your chart with valid candlestick patterns that can be incorporated into your own trading system and show potential trade setups whilst helping to improve trading skills and timing. There are 16 candlestick patterns included and you can roll your mouse over a mark up to reveal more information on a candlestick.

HYCM Review: Adaptive Candlesticks

Adaptive Divergence Convergence Signals

The Adaptive Divergence Convergence (ADC) is a technical indicator that adapts according to the current market conditions, shortening in trending market and getting longer in ranging markets. This can help pin point trending and ranging markets. There are also slow and fast oscillators to assist with trading signals. As it has only one parameter, it can easily be optimised according to your preferences. Further information on entry and exit signals can be found by hovering your mouse over the mark up on the chart.

HYCM Review: Adaptive Divergence Convergence Signals

Risk Management

Risk Management has 2 useful tools to help with your market analysis.

Probabilistic Market Classifiers

Probabilistic Market Classifiers (PMCs) show a probability of between 0 and 100 for a bearish, sideways and bullish market. This can help to differentiate between tending and ranging markets. It is possible to combine the PMC on multiple timeframes for a greater outlook.

HYCM Review: Probabilistic Market Classifiers

Probabilistic Stops

Probabilistic Stops can be used to find price levels for your stop loss that will allow for reasonable price fluctuations and can be adjusted according to your preferences.

HYCM Review: Probabilistic Stops

Indicators Lab

Indicators Lab provides you with some indicators that you can use for your own trading systems and chart analysis.

Regularised Momentum

This indicator can be used to remove unwanted momentum turning points and offers a smoothing technique to momentum which could otherwise be too noisy to interpret.

HYCM Review: Regularised Momentum

Regularised Buying Selling Pressure

Buying Selling Pressure (BSP) reflects the underlying tendency of close prices to gather near the highs in an uptrend or near the lows in a downtrend. As BSP can usually be a noisy signal, regularisation helps to get rid of some of this noise.

HYCM Review: Regularised Buying Selling Pressure

Regularised RSI

RSI is used as an indicator with an exponential smoothing constant of one and regularisation parameter. This usage means regularisation is being used only for smoothing.

HYCM Review: Regularised RSI

HYCM Review: Education

HYCM has a wide selection of free educational materials suitable for novice and experienced traders. These educational tools are designed to help you improve your trading skills and knowledge of the financial markets.

Trading Guides

Plenty of subjects are covered ranging from the basics of trading, trading psychology, chart analysis and much more. There are tutorials, videos, e-books, trading strategies, articles and courses.

Webinars & Seminars

HYCM offer frequent webinars for traders to participate in and venue-based seminars that clients can attend. This adds to the overall transparency and friendly approach adopted by HYCM.

HYCM Review: Trading Instruments

HYCM offer traders a range of assets to trade across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. There are 100+ instruments available to trade on the MT5 platform and 300+ on MT5.

HYCM Review: Trading Instruments

There is a large range of major, minor and exotic currency pairs to trade with spreads starting from just 0.2 pips.

Stocks in some of the world’s leading brands can be traded as can the global equity markets.

Commodities are available to trade without owning the financial instrument on which the contract is based.

The main Cryptocurrencies can be traded without physically purchasing them, including Bitcoin, Ethereum and Litecoin.

HYCM Review: Trading Accounts & Fees

HYCM offer a variety of trading accounts to suit individual trader needs and levels of experience. If you are not sure what account to choose, there is a short questionnaire that will help identify the most suitable for you. All accounts are Islamic friendly and minimum deposits start at just $100.

HYCM Review: Account Type Comparison

Fixed Spread Account

The fixed spread account requires a minimum deposit of $100 with fixed spreads starting from 1.8 pips. There is no commission charged as fees are included within the spread.

Classic Account

The classic account requires a minimum deposit of $100 with variable spreads starting from 1.2 pips. There is no commission charged as fees are included within the spread.

Raw Spread Account

The raw spread account requires a minimum deposit of $200 with variable spreads starting from 0.2 pips and $4 commission fee per round turn.

VIP Account

There is a special VIP account for clients who actively trade larger volumes. The VIP account comes with lower spreads, a dedicated account manager and comprehensive market analytics.

HYCM Review: VIP Account

As broker fees can vary and change, there may be additional fees that are not listed in this HYCM review. It is imperative to ensure that you check and understand all of the latest information before you open a HYCM broker account for online trading.

HYCM Review: Customer Service

HYCM have a professional global customer support team on hand around the clock to assist. They welcome all questions and are on hand to support you from your initial inquiries all along your trading journey. Customer support is provided via online chat, telephone and email.

HYCM Review: Deposit & Withdrawal

HYCM provide a variety of quick and convenient methods of depositing and withdrawing from your trading account. Online payment processors such as Skrill and Neteller may be preferred to clients who are looking for a faster method of funding.

Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in USD, EUR & GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

HYCM Review: Account Opening

Opening a HYCM account is simple and fast. You simply complete the online registration form and fill out the brief trader’s questionnaire. Once your account has been verified by uploading your proof of identification and address, you can fund via your preferred method and commence trading.

HYCM Review: Account Opening Form

HYCM Review: Conclusion

HYCM is an award-winning global online broker that is under strict regulation and has been providing financial services to clients for over 40 years. They have a good selection of tradeable instruments over a range of markets. Execution speeds and spreads are very competitive whilst there are trading accounts suited to each individual trader’s needs. Various funding methods are available and customer service on hand for support. The charitable work from the Henyep Capital Markets Group is highly commendable and helps to emphasise strong business ethics.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Min $100 Deposit

HYCM is an award winning, multi-regulated broker with over 40 years of experience providing a range of assets to traders across the globe with high speed trade execution, tight spreads and competitive trading costs.

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