Henyep Capital Markets or HYCM as they’re more commonly known as is a company that has over 40 years of experience in the business. They operate a CFD and forex broker that has been well awarded for its innovation. The broker provides traders access to 7 different markets and a large number of available assets.
This is a solid broker that we, and many other professionals, really like. You can learn more about HYCM in our detailed broker review below.
Is HYCM a Scam?
As mentioned, HYCM is a broker with over 40 years of experience from the trading world, and we have complete confidence that HYCM is not a scam. Not only does HYCM have a lot of experience as well as a great reputation in the industry, but they are also regulated by both the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA). That means the two leading regulatory bodies in Europe inspect the broker at all times. It also means that HYCM is obliged to serve traders fairly and offer support if any issue would arise.
The point is that HYCM is not a scam and that this broker can be used to trade CFDs and forex without you having to worry about your personal information or capital.
HYCM’s CFD and Forex Product
The following seven markets are currently available on the HYCM platform. Note that depending on which trading account you open with HYCM the number of actual assets can differ but that the markets are always the same.
- Forex is HYCM’s main focus, and they provide access to all the leading currency pairs on the market such as USD/EUR, GBP/JPY, EUR/GBP, etc.
- Metals are technically commodities but they have been assigned their own category. You can trade gold and silver as spot, CFDs, and together with the euro.
- Several of the leading indices from Europe, the United States, and Asia are available with an HYCM trading account.
- Oil & Gas are also technically commodities but are still traded separately. US oil, brent, and natural gas are currently available.
- Commodities are the category for everyone looking to trade coffee, cocoa, and sugar as CFDs.
- HYCM currently offers 10 stocks from the American market including Microsoft, Amazon, Apple, Alibaba, and Facebook.
- Cryptocurrencies can be traded on HYCM since 2017. They currently provide access to Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash as CFDs.
HYCM’s Trading Platform
With a trading account on HYCM.com, you get access to two different trading platforms. The main one is the MetaTrader 4 which is the single most used trading platform in the CFD and forex industry. MT4, as it’s also called, can be used for all your trading and analytic needs and it’s really all you need to trade CFDs on a computer.
If you prefer to trade on mobile devices, you get to use the state of the art HYCM Mobile Platform. It offers complete account management and trading opportunities, and it can quickly be downloaded from the Apple Store and Google Play.
In addition, HYCM provides plenty of educational material and tutorials for the platforms. They also have weekly market updates, daily commentary, and a detailed economic calendar
Three Trading Accounts with HYCM
There are three different accounts available to trade with depending on how much you are willing to invest.
- The Micro account is the smallest account. It requires a minimum deposit of $100, offers 50 tradable assets, has a fixed spread of 2.0, and does not provide any trading signals.
- The Standard Account is activated with a $1,000 deposit and offers spreads of 1.8 as well as trading signals. Also, with this account, you can speculate on 120 assets.
- The VIP account has been developed for major investors that can deposit at least $10,000. It has fixed spreads of 1.5 but other than that it’s very similar to the Standard Account.
HYCM and Their Customer Support
If you ever have a question or run into any issues while using HYCM, you have several options to find a solution. The easiest way to try to solve your issue or find an answer is to go to HYCM’s impressive FAQ. Here you’ll find all the most commonly asked questions with detailed answers.
If the FAQ is not enough, you can contact HYCM. The easiest way to do so is through the HYCM live chat. In fact, the live chat gets activated as soon as you open the website and you’re only two clicks away from help at any given time. In addition to the live chat, HYCM provides two phone numbers for their office in Cyprus and two numbers for their office in England. HYCM also has six email addresses depending on why you need to contact them, for example, sales, complaints, support, etc.