It is one of the defining factors of each broker or exchange. If the support is great, you can let a lot of bad decision go. If the support is poor, then all the disadvantages become even more prominent. Before we jump to the user reviews and eventually Forex brokers conclusion, let’s see what the platform actually has to offer. Maybe the sheer amount of content can win you over, despite all the controversies and disadvantages. I timely noticed what I was doing wrong and made a huge effort to trade the way I traded.

No, the Raw HYCM Forex account is one of the most economical trading accounts in the industry with the most competitive trading conditions. The broker has a separate section on its website for client support, account opening, general inquiry, and complaints, thereby ensuring that you can receive qualified responses to your queries. Clients can also visit the broker’s office to resolve any issues or for general help, but we feel that the live chat feature or an email to the broker will help resolve the most common issues. No company can successfully navigate a highly competitive market without the continued support of its customers. Good customer support and high customer satisfaction are two main pillars of a company’s future success. It is no wonder that HYCM continues to expand to new markets globally while adding a ton of happy customers to its fold.

Maybe they don’t work so hard on the advertising company, but everything about the service – they have a solid 10 out of 10. Please if you are planning to trade with them don’t do it. I made profits they refused to send my money instead they sent me some fictitious wire prove. I sent the information to my bank I was told by my bank that such wire information doesn’t exist. Right now they are not picking my calls nor reply my mails. I have sent them my bank officers name, phone numbers and email.

Service Details

Both platforms are accompanied by corresponding HYCM mobile apps which can be downloaded to your Android, iPhone, iPad, Windows, etc. Many people prefer mobile trading since they do not want to miss out on any opportunity to trade during the day . You do not have to be tied to your computer desktop or laptop to place a trade anymore. This review is a brief summary of the company’s activities and offers. Yadix now offers Gold Swap Free Trading for all clients on MT4 Trade Gold with no swap points on Yadix.

HYCM forex broker

The logic is, they won’t try to scam or fraud you, thus risking their precious reputation. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. Because HYCM is a seasoned veteran of the forex stage.

Please rate this Forex Broker

We should also mention the Refer-a Friend programme, which gives traders the opportunity to earn up to $250. As soon as the referral becomes an active customer, makes their deposit and begins hy-markets trading, the referral reward is credited to your account. The broker does not impose any payment processing fees, but it does not cover any intermediary bank fees or e-wallet transfer costs.

  • There are numerous currencies which are accepted by HYCM including USD, EUR, SAR, RMB, AED and KWD.
  • We ranked HYCM’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.
  • I would say that it’s a very, very reliable forex company with a simply good trading environment.
  • Henyep Capital Markets Limited is authorized and regulated by the Dubai Financial Services Authority with license number F000048.

Note that benefits are some exceptionally good or unique qualities or features. If the platform has of lot of simply good or normal features, then it won’t have a lot of benefits. The platform can either be an overall good experience, or just an OK place to trade. The change in my approach Forex brokers to trading coincided with the registration with this broker. Well, it gave different results, but quite unsteady in general. When I enjoyed a period of profitable trades, I felt happy and even thought that I could trade professionally. Once my fortune had no mercy, I often lost everything.

Can I Use EA with the MT4 and MT5 HYCM Platforms?

Finding a Forex broker with such an enviable pedigree is definitely going to be advantageous. If you want to know more about their service keep reading this HYCM review. All clients’ deposits will be transferred to segregated bank accounts, and routine audits ensure that clients’ funds are not misappropriated. The Henyep Group has also installed a brokerage in Dubai with a DFSA and DIFC licence and an office in Kuwait to cater to clients from the MENA region. In Asia, the broker’s entire operations are headquartered in Hong Kong, continuing to be one of the most prominent financial companies there. Considering its many regulatory licences and strict regulatory supervision, we are quite satisfied with the company’s safety aspects.

How Much Does It Cost to Trade the Forex & CFD Markets?

HYCM’s web trading platform hasgreat customizability.You can easily change the size and the position of the tabs. We tested the debit card withdrawal and it took more than 3 business days. Provide additional personal data required and answer a few questions on your financial status and trading experience. HYCM has generally low CFD trading fees, they compare favorably to the fees charged by its main competitors. Please please stay away from hycm especially if they offered you the choice to register your account in Saint Vincent and the Grenadines … Generally the most profitable trending strategies and it is logical and understandable. In the fourth step, the broker will ask you to declare that you are not from the US and not politically exposed.

HYCM Trading Information 2022

Nevertheless, you can use your MT4 or MT5 login information to access your trading account through the MQL server. There were no surprises when we saw that the broker offered the MT4 and MT5 terminals as the default HYCM platforms for multi-asset trading. All the six different asset classes were supported through both terminals, but only the MT5 platform offered the entire range of financial instruments. If you are looking for tight spreads, then the Raw account is a much better option than the Fixed and Classic accounts.

Yes HYCM doesn’t have its own self-developed trading platform. It providesMetaTrader 4 and MetaTrader 5third-party trading platforms. We reviewed MetaTrader 4 because of its high popularity. Opening an account only takes a few minutes on your phone. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable?

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