Welcome to our unbiased HYCM broker review. In simple terms HYCM is a Forex broker, offering a wide range of assets including cryptocurrencies. There are lots of variables to consider if you are to be successful trading Forex. Trading is risky, there are times of slippage which you can’t control as a trader.
You have to be positive about the safety of your funds, you have to know exactly how much you will be charged for executing trades and you also need to know the reputation of your broker. That way at least you have a chance of succeeding through a reputable broker.
We are experts when it comes to providing you with information in hope of helping you choose a suitable broker for your needs, in this review we will cover these topics: When Was HYCM Founded, What type of accounts do they offer, who are they regulated with, how do they treat customers, and most importantly where do they keep client money.
When Was HYCM Founded?
HYCM was first established as Henyep dealing with gold in 1977. In 1981 the company established its 25th office in foreign countries. In 1998 Henyep secured a license from FCA UK. Since then the company has been making progress,
With a rock solid back ground, Henyep Group is a global corporation with a diversified portfolio of businesses in Europe, Asia and Middle East.
Some of Henyep Group Businesses include:
- Capital Markets and Securities – HYCM specializes in Forex and CFDs through their advanced platform.
- Direct Investment – Henyep Group invests in entrepreneurs who are in financial services, fintech and internet ventures.
- Education – Henyep group is dedicated in spreading their positive values on our youth by operating schools in Hong Kong and China.
- Charity – Henyep Group has built long-lasting charitable relationships within the health-care, education, and environment communities.
- Property – Henyep has multiple investments on commercial property and residential projects. They continue to invest in other attractive opportunities all around the globe.
- Financial Services – The Henyep Company also operates a diversified range of businesses including securities and precious metals trading, consumer credit and payment solutions.
What Type of Accounts Do They Offer?
Every trader has a suitable account with HYCM, with an option for both live and demo accounts. The company also offers special accounts for VIP and corporate clients.
Who are they regulated with?
HYCM is one of the oldest and most regulated Forex broker, Henyep Capital Markets (UK) Limited is authorized and regulated under the Financial conduct authority with reference number 186171.
HYCM (Europe) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 259/14.
HYCM Ltd is authorized and regulated under the Cayman Islands Monetary Authority under reference number 1442313.
Henyep Capital Markets (DIFC) Limited is authorized and regulated by the Dubai Financial Service Authority with license number 000048.
How do they treat clients?
Its no doubt that they treat their clients with dignity and respect, with a track record of over 40 years to back that up. HYCM is actually a very organized company, once you visit their site immediately there is someone greeting and offering some assistance.
They have a more advanced live chat panel that supports viber, WhatsApp, skype, messenger, and telegram. HYCM is also responsive via telephone and email, with over 40 years in the industry its no doubt that good customer service is the driving force.
On top of that HYCM has discreet educational videos accessible without the need for registration. The videos cover Forex Basics up to advanced trading strategies and psychology.
HYCM employs a strict policy of keeping client funds separate from company operation funds. In an unlikely event that the company shuts down, client deposits and profits will still be accessible to them.
Money flows in and out through card payments, credit cards, Skrill and other online payment systems.
So, what did we miss? Trading platforms and spreads! HYCM offers both MT4 and MT5. You’re in great luck if you trade using MT4, we offer many trading systems and indicators exclusively for MT4.
Variable spreads start at 0.2 pips, that’s the cheapest you can get in this business. I might have mentioned at the beginning that this review is unbiased, but come on! 40 years running the service smoothly, HYCM is as big as prime brokers, who doesn’t trust Barclays?
Have a minute to check them out? Visit Hycm.com, If you have anything to add please leave it on the comment box, thank you.