HYCM Review | HYCM MT4 Broker

HYCM MT4 Broker Review | Trade Forex Online

HYCM MT4 Broker is working out or London, UK, for people that have been trading for a while they know this brand as HYCM is one of the oldest, best-known Forex brokers in the market. When they were founded 35 years+ ago they were called HY Market.

HYCM MT4 Forex Broker is regulated and licensed in the United Kingdom which ensures that they are on the level.

HYCM Top MT4 Broker has been offering MT4 from the get-go.

as a Broker that has been on the market for as long as they have they offer pretty much all relevant currencies for trading and following the trend in the market they have added this crypto-Currency to their asset index

HYCM MT4 Broker General Features

With years of working under their belt, HYCM MT4 Forex Broker has made the customer relations and understanding what their clients’ needs their second nature. They have 24 hours a day during the workweek (Monday – Friday). Available methods to reach them include email, live chat, and even a telephone line. There are different email addresses for different inquiries

They have a solid platform to trade from and offer an HYCM MT4 mobile app for most types of phones.

Their customer service and support are readily available around the clock if you need them (something you should never underestimate) and their support is available around the clock.
for those that are looking for a top MT4 Broker, HYCM MT4 is a solid choice where you cannot go wrong

HYCM offered Trading Platforms

Regardless of your trading requirements HYCM probably has the right trading platform for you. They offer multiple renowned trading platforms offering the right tools for new traders and for traders that are coming from other brokers.

• • PrimeTraderis the main trading platform of HYCM. This is a solid Trading platform that allows the trader to see what he is doing in an understandable way, with good customization options and nice graphs.

• MetaTrader 4is and has been for the last couple of years “a must-have” platform for most brokers unless they aim for another nice of traders. This MT4 is set up properly and offer you all the trading features that have come to love and expect from this platform.

They have put some good effort to enter also the mobile industry and their mobile trading platform is intuitive and stable and allows you full trading capability on the go.

They offer Leverages ranging from 50:1 till 400:1, which is dictated by the currency pairs you are trading

A special feature that they offer is the free signal service that is integrated into their MT4 giving the traders amazing trading opportunities. the quality of the signals is fair to good and if you combine them with another forex signal service for verification then you should be able to get enough quality forex signals to find your daily trades depending on the selected currency pairs.

Education and Demo Accounts

HY Markets has a number of educational and trading materials on their site. These are:

1. A section on forex basics.
2. Online lessons and periodic webinars.
3. Technical and fundamental analysis.
4. A comprehensive Forex glossary.

There are brokers that offer more in the form of education materials but as stated there are also better brokers for the total beginners of trading, but when you want to trade with HYCM MT4 they have enough to get you started.

HYCM Resources and Account Types

Depending on your trading wishes and requirements, HYCM MT4 Broker offers three different types of account.

1. Micro Account, which is best suited for new traders. The minimum required a deposit is only $100. Leverages go up to 1:500 and the minimum fixed spread is 1.8.
2. Standard Account is for more seasoned and experienced traders. With the minimum deposit of $1,000, leverages up to 1:300 and the spread of 1.5.
3. VIP Account is for the professional traders. This account requires a deposit of $10,000 and has no limitations. As a VIP you are treated as a VIP meaning your wish is pretty much their command, within reason of course.

They offer full Islamic accounts (halal Trading) for all three levels for traders compliant with the Sharia law.

They have a full-service education centre that takes you through the steps of trading if you so require.

HYCM Promos & Bonuses

For the best promotions, I will always suggest talking to them since this sometimes season based and depends also on the amount you are looking to invest. the Normal Promotions is 25% of your initial deposit with a maximum of $5000 as a welcome bonus

Commissions and Spreads

The commissions and spreads that are obtainable on HY Markets are spelt out below in this snapshot. We can see that the information differs from one account type to another.

Charting Packages

Charts on HYCM Forex Charts are available on the respective platforms.

Customer Service

HYCM customer support is available using the following means of communication:

• Customer Service Tel: + 44 – 208 – 816 – 7812
• Live chat online
• Physical Address: 3rd Floor, 28 Throgmorton Street, London EC2N 2AN, United Kingdom, London.

Banking Options and Deposits and Withdrawals

Their regulation here dictates what they are able to offer as compliance rules for the regulation in the UK is not that easy. That said HYCM has all the basic banking solutions set up for you, through Bank wire and all major credit and debit cards like MasterCard and Visa.

The offer also Bank through a few online e-wallets, including Union Pay and Web-Money.
the same methods that you use in order to deposit you can also use to withdraw your funds.

For some of the methods, this process might take a few days till up to a week but there are free of fees getting the exact amount you requested.
The only exception to this rule is, the bank transfer may have charges due to your bank’s processing fees not because of this broker.

Deposits can be made on HY Markets as follows:

1. a) Skrill (Moneybookers) and WebMoney are the e-payment methods.
2. b) Bank Cards: PRC Cards, VISA and MasterCard are methods of conducting credit/debit transactions.
3. c) Bank wires are also used for depositing and withdrawing funds.
4. d) PayPal

Deposit Limits

The minimum deposit requirement differs from one method of a transaction to another, and from one type of account to another. The minimum deposit amount for each transaction type is as follows:

250. a) Bank transfers: $250. Transactions are processed within 1-5 days.
251. b) All e-payment methods and credit cards: $20. Deposits are processed within one day.

There are generally no maximum deposit limits except for card methods which have a specified deposit limit that is given to traders when they open accounts.

Withdrawal Limits

The minimum withdrawal limits also depend on the account type:

1. a) Bank wires: $300: Using this method will also attract $30 in fees.
2. b) E-payment methods and credit cards: $50. No fees are charged.

Users of PRC cards cannot make withdrawals with this card type.

There are no maximum withdrawal limits. Card transactions and e-payment withdrawals take 7-10 working days while bank transfers take 1-5 working days.

Conclusion

In short, this is a good broker that has the best trading platforms for you to trade on and has the experience to make your trading experience a pleasant one, they understand the need of good service and have one of the best Mobile trading application in the market at the moment.

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HYCM MT4 Forex Broker Details

Main competitors

LegacyFX | XM.com | FP Markets | XTB | FX Open | Markets | Profit Trade | FXTM | HYCM