A Detailed Review: Forex and CFD Broker Henyep Capital Markets (HYCM)
Published June 18, 2021.
Henyep Capital Markets (HYCM) is an established and trusted broker with nearly forty years of experience. The company serves both institutional and retail clients worldwide and offers a wide range of products and services with a commitment to provide a first-class trading experience.
Over the years, HYCM has gained an excellent reputation as a transparent and reliable broker.
A Background Check
HYCM has received several global awards, including the Best Mobile Trading App in 2020 by World Finance, Best Forex Broker UAE 2020 by Global Banking & Finance Review, the Best Forex Broker 2019 by Global Brand Awards, and the Best Forex Trading Platform in the Middle East 2019 by Global Forex Awards.
The platform is regulated by the Financial Conduct Authority of the UK (FCA), Dubai Financial Services Authority (DFSA), Cyprus Securities and Exchange Commission (CySEC), and Cayman Islands Monetary Authority (CIMA).
Types of Trading Accounts
A quick glance at the company's website shows that it offers three primary types of accounts. These include:
Fixed accounts offer customers fixed spreads from 1.8 pips and zero commission. The minimum deposit is $100, the minimum trade volume is 0.01, and Islamic accounts are provided.
Classical accounts provide HYCM users with variable spreads starting from 1.2 pips and no commission. The minimum deposit is $100, the minimum trade volume is also 0.01, and Islamic features are given to investors.
Raw accounts maintain raw spreads beginning from 0.2 pips, plus $4 per round. The minimum deposit is a little higher ($200), but the minimum trade volume is also 0.01. Islamic features are offered with Raw accounts.
Special accounts are offered for VIP and corporate clients so that they can trade large volumes. This also includes dedicated account managers.
The Pros and Cons
Some of the pros of using this service include:
- Fast execution
- Tight spreads
- Different account types for different trading styles
Some of its cons include:
- More expensive than other forex brokers
- Not ideal for discount traders
The best thing about using the services offered by HYCM is that there is an account type to match every trading style and all levels of experience. The services are efficiently designed for everyone, whether they are a novice, professional or corporate trader.
Enhance Your Trading Style
HYCM also offers a range of educational tools to help clients develop their trading skills and boost their knowledge of financial markets and trading.
There are tutorials, eBooks, and courses on trading strategies and trading tools. Webinars and workshops are also provided and designed to improve an understanding of trading and global financial markets.
Know Your Options
In the end, it is a good idea to have HYCM in your back pocket when you are researching the wide variety of forex and CFD brokers on the web.