HYCM Forex Broker Review

Henyep Capital Markets, or HYCM, is a long-trusted Forex and CFD broker. HYCM is based in London, is part of the global conglomerate Henyep Group, and is licensed and regulated by the FCA in the UK, the SFC in Hong Kong, the DFSA in Dubai, and are MiFID compliant.

So now you know your funds are safe, what about the specifics regarding trading with HYCM? Let's take a look.

HYCM Trading Accounts

HYCM offers three types of accounts: Micro, Standard and VIP. The required minimum deposits for each account are $100, $1,000, and $10,000 respectively. HYCM offers 120 trading instruments to the Standard and VIP accounts, but the Micro account gets access to just 50 assets. Their fixed spreads range from 1.5 to 2 pips, which is at around the industry average. Leverage is capped at 1:400, which should be more than enough to trade large positions, even for traders with smaller accounts.

Trading Platforms

HYCM offers only two trading platforms, which might be off-putting for traders looking for diversity in their platform options. Their PrimeTrader platform is fairly new, and has been authorized and is regulated by the FCA. PrimeTrader looks and feels similar to MetaTrader 4, but comes with a newer look and has technical and fundamental features that MT4 does not. Apart from this, they also offer MetaTrader 4 and apps compatible with both trading platforms.

Unique Features

While HYCM might sound like your everyday Forex broker, there are a few unique features that help them stand apart from the pack. The first thing that jumps out is the fact that HYCM gives investors access to Trading Central, a cutting edge technical and fundamental analysis tool powered by Pro-Daily.com. Trading Central has a 14 year proven track record, has won numerous awards, and is used by 38 of the top 50 largest investment banks on the planet. Through Trading Central, you also receive regular trading signals if you sign up for the Standard or VIP accounts. HYCM also comes with free weekly reports, daily outlooks, and has its own loyalty reward program, which allows you to make money by simply placing trades and being an active investor.