HYCM Broker Review – Is HYCM a Scam?

Investing & Trading

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If you are looking for a broker, you will want to read this HYCM broker review to learn whether or not this broker is a scam. You can learn about how to open an account, login to it, deposit money, and withdraw it. You can also find out if the broker has demo accounts.

Opening an account and login

To open an account and login with HYCM broker, you will need to sign up with an email address and provide your personal details. These should include your name, country of residence, and email address. You will also need to choose a password to log into your account. After you have completed the form, you will need to choose your preferred trading platform and choose the base currency for your account. After you have finished this process, you will need to deposit funds.

HYCM has a good reputation as a regulated brokerage and follows strict financial procedures. The company has a high trust rating and has been in business for over 40 years. It offers a web platform and desktop platform. While it accepts most people, some people are not eligible to open an account with HYCM, such as those from countries with unstable governments. You should also be prepared to provide proof of your residency, such as a utility bill or a bank statement.

HYCM provides several convenient deposit and withdrawal methods. You can deposit using major credit cards, Skrill, WebMoney, and bank wire transfers. All of these methods are secure. Your funds are segregated in top-tier banks and will be handled quickly and accurately. Withdrawing funds is easy as well, and many people have praised HYCM’s withdrawal process.

Does the broker offer a demo account?

To open an account with HYCM, you can visit their website and select the country you reside in. Then, you’ll be required to enter your personal details and answer a few background questions. You’ll also need to upload documents. You’ll be given fourteen days to test out the account and trade on the system before you sign up for a live account. After that, you’ll be charged $10 a month for your demo account.

To open a demo account with HYCM, you’ll need to enter your email address and phone number, as well as provide a phone number. The demo account lasts for 14 days, and you can practice trading with up to $50,000 of virtual currency. The MT4 and MT5 trading platforms are both available for demo use, and you’ll also be able to access educational materials to get familiar with the software. Once you’re ready to start trading, you can choose a fixed, classic, or raw account.

HYCM’s platforms are user-friendly and easy to navigate. They offer a wide range of financial instruments, and are compatible with Android and iOS devices. The minimum balance requirement is low, and the minimum order amount is small. The demo account is a good way to practice swing trading before you start investing real money.

Deposit and withdrawal

The HYCM broker allows its customers to deposit money into their trading account in a variety of ways. This includes credit and debit cards, electronic wallets, and SIM transfers. Clients may deposit as little as $20 via credit card or e-wallet and have the funds transferred back to their original source instantly. HYCM also accepts wire transfers. However, the processing time for wire transfers may take up to 7 days.

HYCM is a regulated forex broker based in the UK. The company has an office in London and is regulated by the Financial Conduct Authority (FCA). The company also holds appropriate licenses from other jurisdictions. This regulation ensures the financial security of its clients and protects their funds. The deposit funds are not used for personal purposes and are stored separately from the company’s own funds. The company is also a member of the Financial Services Compensation Scheme (FSCS).

Withdrawals at HYCM are also simple and free. Traders can withdraw their funds via credit card, e-wallet, or bank transfer. The minimum amount for withdrawal is $250, and there are several methods to choose from. While the withdrawal process at HYCM is relatively simple, investors should check the fees before deciding on a brokerage firm.

Available countries

The HYCM broker is available in a number of countries. However, some of them are restricted, including the USA, North Korea, and Sudan. To open an account with HYCM, you will need to provide personal details, such as your name and address. In addition, you will need to confirm your e-mail address. You can deposit money to your account by bank transfer or credit/debit cards. The minimum deposit amount is $100 for the Fixed and Classic accounts, and $200 for the Raw account.

HYCM is regulated by several financial authorities around the world, including the top-tier FCA. While this regulation provides investors with a degree of protection, clients outside of the UK and EU do not receive this protection. This means that while you can open a trading account with HYCM, you will have to pay a minimum of $250 to withdraw your funds.

The HYCM broker offers an excellent range of services and features. The main office of the company is located in London, which ensures legal security for its customers and convenient conditions for cooperation. It also has branches in other countries that have appropriate licenses. Apart from this, HYCM has strict regulation to ensure that its customers’ funds are kept separate from the company’s own funds. Moreover, the company offers its clients a range of tools and training options.

Trading education

The HYCM broker offers a wealth of trading education for its clients. The company offers an economic calendar, an educational website, and ebooks that detail the different trading instruments and strategies. Besides these, HYCM holds regular workshops and webinars. Clients can also take part in these live events.

For those who are not interested in taking the full program, there are two options: the shortened course and the complete course. The former has fewer lessons and focuses on the more fundamental aspects of trading while the latter focuses on advancing the student’s knowledge in more advanced techniques. In either case, the customer support center is available 24 hours a day.

The HYCM website offers extensive trading education for both beginners and experienced traders. It also offers a range of tools for risk management. Users can use tools such as stop losses, take profits, and limit orders. Additionally, traders can also access a daily economic calendar and updated financial market news.

Customer service

Customer service at HYCM broker is good but could be better. They answer emails within a day, offer 24 hours live chat support and include a FAQ section. Customer support is also average compared to other brokers. During our experience, the agent we spoke to on the phone was friendly and courteous. He took the time to understand our concerns and provided relevant information.

Deposit and withdrawal options are flexible and fast. Deposits can be done through deposit funds or banking accounts. Choose the option you prefer, fill out the required information, and submit your deposit. The company then transfers the money back to the source you originally deposited from. This is a convenient and easy way to invest in forex.

HYCM is regulated in several jurisdictions worldwide. This means that their services are legitimate and they have been thoroughly reviewed by regulators. They are regulated in the UK by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and the Cayman Islands Monetary Authority. They are also licensed to operate in Saint Vincent and Grena.

Is there an mobile app? Android and iphone.

If you’re looking for a forex broker with a mobile app, look no further than HYCM. This award-winning broker offers a variety of tools and features that can be used on the go. The app is designed with your convenience in mind and offers a demo account to help you understand trading without having to invest any money. You can also find a wide range of educational resources on the website, including webinars and videos.

HYCM’s mobile trading app, HYCM Trader, offers users easy access to buy and sell financial markets with real-time support. The app is available for download in Apple App Store and Google Play in 4 languages. The app allows users to trade on a variety of instruments and markets. This mobile app is easy to navigate, has a simple interface, and offers a large selection of popular categories and large cap stocks.

Users can fund their accounts via bank wire, bank transfer, or e-wallet. The app allows them to deposit and withdraw funds in multiple currencies, including USD and EUR. Withdrawals from the HYCM mobile app are fast and free. HYCM also supports WebMoney.

Pros and Cons

When comparing the Pros and Cons of HYCM broker, you need to look at the long operating history of the company’s corporate owner. A long running history in the industry shows that this brokerage is financially stable and focuses on the essentials. The company has received a number of industry awards. You can find a list of these awards on HYCM’s Home Page. A negative to HYCM is that it does not accept U.S. clients.

HYCM offers a variety of different accounts that meet different trading needs. The lowest-tier account has a good minimum deposit. It also offers excellent low spreads of 0.2 pips. In addition, HYCM’s website is user-friendly and simple to navigate. The company’s website makes it easy to compare broker offers. It also offers a variety of trading tools, including EAs and MT5 trading platforms.

HYCM offers many different platforms, including MetaTrader4. Some of the platforms come with special features that can only be found at HYCM. HYCM also offers a professional approach and integrity.

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