By Nathan Ferguson
HYCM Review
HYCM or Henyep Capital Markets is an experienced brokerage platform owned and operated by Henyep Group Ltd. The broker is renowned for maintaining advanced trading features, providing modern trading assets, and escorting its customers with robust customer support. In this HYCM review, I will tell you about its features which make it a reliable choice for traders.
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HYCM is a completely safe broker for traders as it is a part of an international company that has a clean record. There is no risk in investing through this broker and the majority of crypto and forex traders prefer it because of its legitimacy and transparency.
Trading Instruments
As HYCM is an experienced brokerage platform, it offers a combination of both new and conventional trading instruments for its traders. The traders who are successful in trading old trading instruments and don’t want to come out of their comfort zone are provided options such as commodities, forex, and indices. On the other hand, the new generation can tap the modern lucrative instruments such as cryptocurrencies. Overall the total number of available financial assets at this platform is over 150.
Trading Accounts
At the HYCM brokerage platform, the clients are offered three different types of accounts. The accounts are named Fixed, Classic, and Raw Spread trading accounts. The features offered in these accounts differ in various aspects. The Fixed account offers basic features with slightly higher spreads but no commission at all. Fixed spreads account is best for those who want to take less risk. Classic and Raw Spread accounts are advanced accounts with variable spreads but a commission is charged on every trade.
Trading Fees
The trading fee charged by HYCM differs according to the account types mentioned above. I feel an obligation to mention here that the broker charges no deposit fee in all its accounts. When it comes to withdrawal fees, it is charged only from Fixed Spreads account holders. HYCM wants its traders to trade actively that is why it charges an inactivity fee if a trader doesn’t make a trade in the whole month. The inactivity fee can be up to 10 dollars a month.
Deposit Methods
A trader needs to deposit some money in his account if he wants to make himself able to execute trades. At the HYCM platform, traders are allowed to deposit funds through three different methods. First of all, you can top up your account with your regular credit cards such as Visa and Master card. The second option of crediting the account is through a wire transfer through any of your liked banks. Thirdly, electronic systems such as UnionPay, Skrill, and WebMoney can also be used for the same purpose.
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Although a majority of brokerage platforms bound their clients to deposit at least 500 dollars but HYCM has shown leniency for its traders. The initial deposit limit of HYCM has been kept as low as 100 dollars only.
Trading Platforms
Being one of the leaders of brokerage platforms, HYCM provides its customers with advanced-level trading platforms. Currently, it is offering three different types of trading platforms named as web platform, desktop platform, and mobile platform.
The web platform is not an application and it can be opened as a URL from any browser from any type of device. The HYCM web platform is based on MetaTrader 4. Performance-wise the web platform is top-notch but lacks in tools. To overcome this lack, HYCM has launched its desktop trading platform which is based on MT5.
With MT5’s automated trading capabilities and integrated tools, the desktop platform makes HYCM ideal for traders. For the convenience of traders, HYCM has converted the desktop platform into a mobile app as well. This app can be used on both Apple and Android devices.
Conclusion
Overall, the HYCM brokerage platform has a huge fan following and a reliable reputation which is only due to its top-notch features, services, and tools. It is a platform equally useful for beginners as well as professional traders that is why I recommend you to register yourself with HYCM to enjoy error-free online trading.
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