One notable feature of this account type is the tight spread, starting from 0.2 pips. Similar to classic accounts, on a raw account, you can trade with the use of expert advisors and are able to set this account to run either on the MetaTrader 4 or the MetaTrader 5. The management at HYCM has chosen to align with Metatrader4 for its basic and web-based trading platforms, but they have also developed a brand new proprietary platform that they have named “PrimeTrader”. HYCM has also developed many innovative trading tools or widgets that can be accessed directly on the various trading platforms. These tools allow clients to better understand products, analyze trends, simulate the market, and more.
HYCM (Henyep Capital Markets)
- Clients are allowed to hedge positions, but the CFD broker does not permit scalping.
- This means HYCM forex broker is watched by many important regulatory authorities in the world to make sure they are doing things the right way.
- This is helpful if you do not have the time or math skills to frequently perform such calculations.
- The Classic account offers variable spreads, fluctuating depending on market conditions.
They keep the money of their clients separate from their own, and they put it in special accounts with really trustworthy banks like Tier-1 Banks. For clients that deal with the FCA, CySEC, and CIMA, this is how they handle things. When you want to add money to your HYCM trading account or withdraw, it’s quite easy.
- The broker will not charge any commissions and offers fixed spreads that start as low as 1.8 pips.
- He’ll show you how trading works in real-time, sharing all the smart things he knows.
- This means clients can get help from the customer support team any time from Monday to Friday, especially when trading is most active.
- For most accounts, you can begin with just $100, which is about what most people start with in this kind of thing.
The other topics covered under Basic knowledge include forex glossary, basics of CFDs and Indices, and slippage. However, the broker provides very tight spreads starting from 0.1 pips and low commissions starting from $4 per standard lot per round. These are some of the lowest commission fees that you will find, putting HYCM up there with RoboForex in terms of low fees. The broker offers three types of accounts which can cater for different types of trading strategy. questrade fx We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
MetaTrader 5
This tool helps traders figure out how much money they need to set aside for a specific trade, considering how much extra money they’re using and the size of the trade. It’s handy when traders want to switch their account money to a different currency or figure out how much a trade is worth in another currency. The Pip Calculator is a helpful tool for people who trade in the forex market. It helps them figure out how much a tiny movement in the price of their chosen currencies is worth.
The market forecast contains the most recent news, opinion, fundamental and technical analysis. It is constantly updated and goes into considerable depth, including graphic charts. This can help to generate prospective trading signals while also being valuable if you have an open position that you are monitoring. With a huge range of built-in indicators and trading templates for technical chart fxchoice review analysis, MT4 can be tailored to your specific needs.
Withdrawal Methods
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). HYCM (Henyep Capital Markets) is a well-established broker with a history dating back to 1977.
However, the lack of regular updates and some variety in their analytics does not allow for a maximum score. This information allows HYCM to offer you optimal trading conditions and provide recommendations on the use of trading instruments and services that best suit your needs and experience. Our ratings are based on a detailed analysis of each aspect of the broker’s operation. We use a strict methodology, including verification of the broker’s services and functionality, availability and quality of educational materials, professionalism of technical support, and much more. You can xm broker review visit our methodology page for additional information on how we evaluate brokers.
Client’s Area
It includes the range of trading platforms, account tiers, list of CFD products offered, customer service, demo accounts, and regulatory status. Based on the account types, the top CFD broker offers three kinds of spread- Fixed, variable, and raw. The fixed spread is the widest of the three, while the bid-ask range for the Raw Account is the least for FX and spot commodities. However, the forex broker charges a commission of $4 and $5 per round transaction in the two asset classes correspondingly. For all the other products, the spread on the Variable and Raw Accounts are the same. Because of its cutting-edge technology, MetaTrader 4 (MT4) has become the most frequently used electronic trading platform and has been embraced as the financial industry standard.
Raw Account Spreads
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. HYCM provides platforms for various devices, including desktop computers (Windows and macOS) and smartphones and tablets (iOS and Android). A web version of the platform is also available, allowing trading through a browser without installing additional software. The number of assets available for trading depends on the type of account selected. If a client’s account remains inactive, an administrative fee of $10 or the equivalent in the account’s base currency is charged each month until account activity is resumed.
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. At HYCM, traders have access to a diverse range of markets, including 70 forex pairs and a total of 1,199 tradeable symbols. When compared to the industry average of 3,623 tradeable symbols, HYCM offers fewer options but covers the most popular and liquid markets.
That’s why you’ll need a special practice account to follow along and try out what you’re learning. This is your chance to learn how to plan ahead for these events and feel confident when you’re trading. By joining, you’ll get useful information about how most traders are feeling and strategies for big market events, and you can even ask questions during the session and get answers right away. You can join the webinars to learn the important things you need to trade successfully.
This small movement is called a “pip,” which stands for “percentage in point.” It’s the smallest change in price that matters in forex trading. HYCM MT5 helps you understand and predict the market better with really smart ways of looking at data. You can also make your own trading plans and even use special tools like trading robots and Expert Advisors to help you trade automatically.
He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. You can deposit funds into your HYCM account using various methods, including bank wire transfers, credit/debit cards, cryptocurrencies, and several e-wallet options. If you want to compare HYCM with other forex brokers in more detail, go to the Forex Brokers Comparison page. The Raw account, designed for professional traders, includes a commission of $4 per lot per side. This rate is above the market average, which should be considered when choosing this type of account. The client’s area offers an intuitive interface and a wide range of features for managing your trading account.
Regulatory compliance is multifaceted, as well, under the auspices of the FCA in the UK, the SFC in Hong Kong, the DFSA in Dubai, and by way of the MiFID for the European Union. Client funds are always protected by regional compensation plans, segregated trustee accounts in top-tier banks, and by external auditor compliance. Safety and security are never an issue with HYCM, and its quality of service is above excellent, as the numerous industry awards listed on its website that have been earned since 2011 confidently denote. With over four decades in continuous operation, it is clear that whatever it is doing, it seems to be doing it right! In addition to the hundreds of thousands of customers it has serviced, HYCM has also amassed numerous industry awards from a wide variety of industry publications across the globe.
HYCM is authorised to offer services to clientele based in Austria, Belgium, the Czech Republic, Denmark, Germany, Hungary, Italy, Poland, Spain and Sweden. Both MetaTrader 4 and MetaTrader 5 platforms can be downloaded free of charge on mobile devices (smartphones or tablets), which operate on Android and iOS. With HYCM’s mobile apps you will have the ability to open, manage and close trading positions on the go anywhere on the globe while having complete control over your trading account. The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs.
