HYCM, formerly HY Markets, is headquartered in London, UK, and is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. HYCM is a division of Henyep Capital Markets which is a leading capital markets trading firm that has an operational history of 30 years and specializes in foreign exchange and CFD’s on commodities, metals, equities, indices, and treasuries. With offices in major cities in three continents, including in Dubai and Kuwait, the broker is one of the most established in the financial services industry.
HYCM offers 3 types of accounts based on trading experience–Mini, Standard and Premium. Larger accounts qualify for the VIP Personal Dealer Service which provides cutting-edge service and access to all markets.
The Mini account, which is ideal for a trader who is new to the market, requires a minimum deposit of only $100. A deposit of at least $1000 opens a Standard account, suitable for traders with a bit of experience.Available leverage is 1:500 and 1:300 respectively. The VIP account for high rollers requires a minimum of at least $10,000 to start. Leverage of up to 1:300 is offered and the spread is 1.5 pips.
Trading signals are available for Standard and VIP accounts and mobile trading is provided for all three.
An Islamic account is also available for those adhering to Sharia laws where financial interest is forbidden.
There is no demo account offered.
The only promotion offered at HYCM is the Refer-a-Friend program. HYCM has designed this program to reward their clients for their support and helping to introduce HYCM to other people within their social network. Every time a friend or family member is referred, registers and funds a trading account with HYCM, the client has the opportunity to earn up to $250.Deposits/Withdrawals
Deposits are accepted via credit cards, wire transfers, Skrill, PayPal and WebMoney. Withdrawals can be requested by filling out an online form.