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HYCM Canada

C$ 150,00

After spending five months testing 30 of the simplest forex brokers for our 4th Annual Review, here are our top findings on HYCM:

Founded in 1977, HYCM is regulated in two tier-1 jurisdictions and two tier-2 jurisdictions, making it a secure broker (average-risk) for forex and CFDs trading.
Compared to pricing leaders, HYCM is dear and not recommended for discount trading.


Overall Rating

98.5%

Minimum Deposit
98%
Very Good
Customer Support
97%
Very Good
Withdrawals
99%
Very Good
Payout
100%
Very Good

HYCM may be a plain-vanilla MetaTrader broker that gives terrible customer service. Compared to industry leaders like

  • IG
  • CMC Markets,
  • Saxo Bank,

HYCM left us unimpressed.

Is HYCM Safe?

Henyep  is taken into account average-risk, with an overall Trust Score of 84 out of 99. HYCM isn’t publicly traded and does operate a bank. Henyep is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). HYCM is authorised by the subsequent tier-1 regulators: Securities Futures Commission (SFC) and Financial Conduct Authority (FCA). Learn more about Trust Score.

Commissions & Fees

The forex trading costs at HYCM depend upon the sort of account established, starting from the Fixed, Classic, or Raw account type. Offerings include its Raw and Classic account types from its UK entity. Meanwhile, the spreads on the EUR/USD at 1.8 pips for its fixed spread account are above the Raw and Classic accounts, which have more competitive pricing, with 0.6 pips average spreads for August 2018.

Compared to its EU-based brands, HYCM offers lower margin rates through its entities regulated by the CMA within the Cayman Islands , and by the DFSA within the UAE.

Platforms & Tools

HYCM may be a MetaTrader-only broker offering the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform suite but falls short compared to the simplest MetaTrader brokers.

Henyep Securities offers a separate platform for its Hong Kong and China exchange-traded securities offering, although we didn’t test that platform for this review because it isn’t provided across all the firm’s entities, including HYCM.

Henyep provides slightly quite the bare minimum for forex traders to conduct FX marketing research . for instance , HYCM provides customers access to Trading Central – a well-liked service for automated technical analysis – available as an MT4 indicator, a daily newsletter, also as via access to a fanatical web portal. The broker also streams daily marketing research videos and provides access to an economic calendar on its website.

Mobile Trading

Since Henyep may be a MetaTrader-only broker, it provides both the quality iOS and Android versions of the MT4 app. No proprietary mobile app is obtainable .

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the united kingdom . For our 2020

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C$ 150,00

C$ 150,00