I don’t think that the brokerage is the first importance things, but at least I can claim that https://www.forbes.com/advisor/investing/what-is-forex-trading/ is good one. In fact, HYCM raw account can turn out to be MUCH more favorable. They only charge $4 per round, which is really favorable in comparison iwth several pips spreads with a decent positions size. HYCM Platform is ranked good with an overall rating of 9.2 out of 10 compared to over 500 other brokers. We mark it as good being one of the best proposals we saw in the industry, and a great range including MT4, and MT5 suitable for professional trading.
While most brokers has only one regulation or don’t have it at all – https://forexreviewdaily.com/ offers clients to choose between 4 entities. Personally I’m trading with HYCM Ltd, registered on Caymans. I don’t need ‘strong regulation’, but I appreciate high leverage, it’s important for my strategy. They offer a demo access, so you can train as much as you like. At the same time the broker is regulated, so it’s safe to keep the money on account.
I’m trading with this brokerage for almost 4 years and I think that’s a long enough term to draw my own conclusions about it. Actually, If you’re expecting a ‘free-money’, then trading isn’t your business at all ,.
HYCM – FCA Regulated Since 1998
Contracts for Difference are complex financial products that are traded on margin. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to ’s Risk Disclosure.
Although I find this unpleasing, it isn’t their fault as these countries are quite strict in who they allow to operate within them. I appreciate that https://forexreviewdaily.com/hycm/ takes safety of client funds, transparency and fair practice very seriously. They have partnered with top tier banks such as Barclays and Eurobank to hold client funds in segregated bank accounts so they cannot be used for any other purpose. We’ve also seen a historic strengthening of the US dollar, which has benefitted from both of the above sets of conditions. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.
Review Methodology
They process around 25,000 orders each day with fast execution. I would’ve preferred a broker to have 24/7 customer support but Forex brokers 24/5 customer support with a dedicated personal account manager available at all times for any queries is just as good too.
- The trading platform is the primary tool of an online broker that you use for conducting your transactions, but this is another aspect where HYCM-BOT will disappoint you.
- You should work really hard in order to achieve some success, but if you would – you would be rewarded.
- For currency pairs, they are about 2 pips – in my opinion, this is quite a narrow figure, so I can not limit the number of orders and the duration of the trading session.
- Stock CFDs include some large companies listed in the UK, US, German and Spanish markets.
- When I was looking for a broker for myself, I certainly paid attention to this information.
Also, all are provided with good research and excellent tools. Besides, there are Islamic trading accounts available for traders with no adjustments. Based on our Expert research, HYCM fees will vary according to the account type you select or trade, so see which one is suitable for your trading style. Based on our findings, HYCM leverage actually, depends on which regulation and jurisdiction the trading account complies with. Meaning each jurisdiction falls under particular rules and laws, therefore depending on your residence various leverage levels and trading conditions likewise are applicable. We found that in case HYCM by virtue of certain circumstances is unable to provide further financial services, customers may receive compensation. However, note regulation varies according to a particular entity where conditions and audit rules are diverse as well.
Education and analytics
Instead, traders can work on tried and tested Metatraders. When I decided to become a trader I decided to find a 100% honest and professional broker.
Trading Conditions
These educational tools are designed to help you improve your trading skills and knowledge of the financial markets. https://forexreviewdaily.com/ offer Trading Central’s award winning analysis tools to use on their platforms to assist traders with their trading decisions. These tools include Alpha Generation, Risk Management and Indicators Lab. Trading Central third-party plugins can be installed on the MetaTrader platforms to further enhance technical analysis and to provide market forecasts and commentary. I installed its third-party plugins on my MetaTrader platform to further enhance my technical analysis and to me provide market forecasts and commentary.
Mobile trading platform
It is quite striking on the latest sentiment print from the week ending November 30 that there was a large jump in this neutral on stocks as we head into the Fed’s blackout period. This may seem obvious to many people, however there are still many unlicensed Forex scams online. When reviewing your www.hycm.com Forex broker, it is very important to verify that they are in fact licensed and regulated, by the financial regulatory agency in your country. Broker uses separate accounts for customers’ funds to keep them apart from company’s funds. In addition, customers are protected by FSCS and ICF .
https://forexreviewdaily.com/ Spreads are ranked low with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are very attractive too. Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear.
