Hy Markets Review
These clients suggest for this firm to adapt less overloaded contents such as graphics and the use of minimal data transfers to avoid these lagging issues. Some of these feedbacks coming from users say that the pages are loaded with ads, banners and similar displays that this makes it hard to proceed. These are disturbing pop-ups that does not show any information connected to the transaction. Clients tend to overlook such minor issues since they know that these will soon be taken care of just like the other issues that they ask for assistance with. HY Markets review says that one of the setbacks of having your money held in a segregated fund is that these are pooled together in a bank account. The account is protected against misuse by HYMarkets however, according to HY Markets review in the event that a bank default happens you will also share with the shortfall. However, payments against protected investment business scheme under FCA limits a maximum of £50,000.00 per customer.
If the amount being withdrawn is less than $300, the customer will be charged $30 as transactionfee. HYCM boasts of a foundation that very few forex trading companies can match. The company is part of the Henyep Group, a well-known global company with investment and business portfolios in locations that span the Middle East, Asia, and Europe. With more than four decades of solid trading experience, the Group is a leader in its core businesses. HYCM inherited the Group’s integrity and expertise which benefits the clients and the whole community as well.
HYCM is keen on providing only the smoothest deposits and withdrawals to its customers. They recognize that investors should be able to invest and gain profit in as smooth a manner as possible. There’s a commission of $4 per lot and a minimum deposit of $200 is required. • The Classic Account has variable spreads from 1.2 PIPS. There’s also no commission and requires $100 minimum deposit. It’s a member of Henyep Capital Markets LLC, which is one of the oldest financial institutions.
The reviews and feedbacks coming from real users of this platform will show you if this broker is for you. Education is an important part of choosing a broker, and HYCM have offered a comprehensive selection of articles, ebooks and tutorials to help beginner traders to take their initial steps into trading.
Forex Peace Army
Of course, this could be any other broker, but in my case that was HYCM and it’s a good thing that it didn’t let me down. Of course, I could write formal things about the broker such as it’s a veteran broker working in the industry since 1977. However, you can easily find official information about this brokerage service online by yourself. I opened a fixed account with this broker and didn’t regret entrusting my capital to it. I have no issues with withdrawing my earnings and it’s the main thing for me. But about six months ago, I came across an interesting topic on the forum. The guys were discussing the conditions of the affiliate program.
Until further regulations change it is possible to open a demo account if you would like. Besides, its entity in Cyprus also regulated and set according to CySEC regulatory obligations and compliant to MiFID European directive. This technology currently is the leading solution that provides extremely fast execution speeds and the most favorable quotes with spreads from 0.0 pips allowing you to benefit from it.
Learn Forex Trading
Client’s investments / funds protected by the Financial Services Compensation Scheme. You can start trading with just $50 in few minutes and fund account with credit card. In fact, the spreads offered by HYCM are quite competitive, amounting to 1.8 pips on EUR/USD on Standard and even on VIP accounts. Traders are required to deposit just $100 in order to open an account with HYCM, which is an average minimum initial amount.
- Dedicated to provide a useful guide to traders and investors.
- Perhaps, you may think that I have a sort of phobia, but I call it conservative values.
- It was very crucial for me to find a trustworthy brokerage service after my recent negative experience.
- If one of the traders attracted by a partner becomes a partner himself, you can get additional income.
The bank transfers have commissions, but on the official website you can find a list of partner banks, cooperation with which will reduce these costs. The 40-year successful experience of the holding makes it possible to consider it a leader in the market, so the financial group has an impeccable reputation. A crucial factor in its success is the constant development, the use of innovations, high quality service.
Review By Sarence S
The quickest and easiest way to contact customer support is through live chat, which is available 24/5. Citizens from the USA, Iran, Iraq, Syria and Afghanistan are not currently permitted to create a Forex account.
The Markets Premium account, more geared towards traders with sizable trading experience and its HY Pro is reserved for those with large budgets who have extensive experience and trade substantial volumes. Before opening an account, a trader has the option to become familiar with the capabilities of the broker and evaluate the functionality of the platform by using their free demo account.
HYCM, previously referred to as HY Markets, is a reliable forex broker that is based in London. Since the forex broker operates in the UK, it is licensed by the Financial Conduct Authority, which is known to be a reliable and reputable regulatory organization.
Hy Markets Review 2020
As an experienced trader you can avail of their personalized VIP services. This comes with free trading education and one-on one support which is quite helpful especially if you are new in this kind of investment. You will also get updates about the market as well as the condition that it is in. As valued client you will receive SMS alerts, timely market information. You also get advanced charting systems as well as technical analysis tools to help you especially if you are new to this type of investment and industry. This firm does not guarantee slippage nor stop loss orders. This firm wants to be truthful in the best possible way to you as their client.
I have a seven-year trading experience and I worked with many assets but Bitcoin shocked me. I’m not psychologically ready to stand it all crazy ups and downs. I felt a great relief once I quitted a long-lasting crypto marathon.
Nevertheless, HYCM is following the footsteps of other FX brokers by offering a loyalty program that provides a cash rebate by accumulating certain lot conditions. Such a loyalty bonus program is free of any terms or conditions, which allows clients to withdraw their loyalty bonuses without any strings attached. FP Markets offers two account types with STP and ECN execution models accordingly available for MT4 MT5 platforms. IRESS account offering proposing an additional account for the traders who prefer to use this particular trading software. HY Markets has chosen to offer four different account types; Demo, Mini, Standard, Premium and HY Pro with each offering their own unique set of benefits.
There are a number of ways to get in touch, including a number of head office email addresses, a telephone call centre, and the very helpful live chat option, for when an immediate response if required. HYCM accepts a number of different payment methods including Visa and Mastercard, WebMoney, wire transfer and a number of other local payment methods. No fees are charged by HYCM for either deposits or withdrawals, but there are minimum requirements. All banking operations are safe and secure as their servers are encrypted with 128-bit keys, and personal and account information is encrypted using VeriSign-issued 128-bit-SSL certificates. Three different account types to choose from, but unfortunately no demo account. In addition to providing various personal information, HY Markets asks various questions relating if you are a reportable person within the US or if one that is politically exposed.
Besides this, I had no problems with withdrawing funds. When it comes to trading, I prefer to deal with proven partners.
A Reliable Broker With Some Restrictions
The systems used by this company lets you check your open positions, equity and P&L online 24 hours a day. This is beneficial especially if you are an HY Webtrader or the HY MetaTrader MT4 download platform. These trading platforms are based on the popular MetraTrader series that allows you to trade anywhere as long as you have internet access be it anywhere in the world. The platform that this firm uses as the same appearance as the industry MT4 platform.
However, other EU brokerages require less – XM, for example, which also holds licenses from both CySEC & FCA, demands $5. HYMarkets with restrictions allows but cannot guarantee Expert Advisors automated forex trading on their metatrader4 platform.
Desktop Trading Platform
As they are regulated by the FCA, HY Markets are proven to be reliable and reputable. Investors can benefit in several ways when they choose HY Markets as their first choice of Forex broker. Uniquely, HY Markets offer a section of their website which is dedicated towards the education of novice investors. With helpful glossaries, video tutorials and useful articles, those new to Forex trading can learn more about how to hone their skills. There is an option to trade in a range of assets as well as currency pairs, including precious metals and commodities, energy products, traditional stocks and indices.
HY Markets is a comperatively old and well-known broker. It is owned by a famous British financial services provider – the company behind the name Honey Group. The broker and the company, itself, are based in UK and their main headquarters are located in London. Here, most of the offices that cover the administrative job of HY Markets trading arena are situated. This trading website, though, is also registered in other international cities and regions such as Arab Emirates and Hong Kong. Meanwhile, you can be 100% positive about HY Markets broker since it is officially licensed and regulated in its main country, Great Britain. We should also mention the Refer-a Friend programme, which gives traders the opportunity to earn up to $250.
Deposits And Withdrawals On Hycm
This is an advantage because you can easily plan a strategy, even when the market is very volatile. There are minimum deviations from the initial spread value. Here, the size of the bonus is tied to the price of gold, and the size of the bonus increases with increasing trading volume on a trading account. Put another way, the more actively a client trades, the greater the bonus amount. HY Markets is a trading name of Henyep Capital Markets UK Ltd., a division of the Henyep Group.
HY Markets do not only offer trading in currency pairs, but also provide investors with the opportunity to trade in a range of other assets. These include commodities, indices, precious metals, energy products and traditional stocks. This gives potential traders a great spectrum of choice.
HY markets review says that HYMarkets holds the security of your fund as their client top priority. Since HYMarkets is regulated by FCA, as their client you are assured that you are protected under world leading financial jurisdiction. There are some traders who didn’t have a good experience with HYCM for reasons that are beyond the company’s control and power.
UK-based brokers are obliged to hold at least € in order to prove their financial stability. The same minimum capital requirement applies to Cypriot brokerages. HYMarkets provides a learn currency trading education section where traders can learn about trading basics, technical analysis and Fundamental Analysis lessons. HYMarkets is also a member of The Financial Services Compensation Scheme, FCSC that guarantees trader deposits up to £50,000.00 per customer. A vast assortment of merchandise might be traded in HY Markets. Included in these are bluechip assets, indices, commodities, Forex and much more.