The Henyep Group is a global company with offices in Asia, Europe and North America. It founded HYCM as Henyep Gold Dealers in 1977 and became a member of the Hong Kong Gold and Silver Exchange Society. After some time, the group founded the divisions Henyep Securities and Henyep Commodities and expanded its markets in Asia.
In 1980, Henyep added his New York company and was admitted to the New York Merchandise Exchange. In the new millennium, the year 2000, Henyep Investments began trading CFD energy and raw materials and introduced an online stock trading platform called Hotrade. In the years leading up to 2016, when Henyep launched its cross-platform online retail website, the company continued its efforts to revolutionize trading technology.
HYCM has made a name for itself as a long-standing multinational brokerage company for trading foreign exchange and commodities. Today, the company has headquarters in various parts of the world, including London, Cyprus, Hong Kong and Dubai.
If you haven’t been impressed by the broker’s idea yet, scratch the surface and browse the HYCM broker service to discover the thriving trading culture that may perfectly match your trading appetite.
HYCM Broker Review
Forexbrokers.com has submitted a trust score of 78/99 for HYCM, which is considered an average risk for a HYCM investment.
HYCM is a legitimate and trustworthy brand in forex trading. But it also has small problems. It does not operate a bank and it is not traded publicly. No brokers based in the US are accepted, as HYCM is not allowed to work in the US.
HyCM account types are Fixed, Classic, and Raw. It has recently added variable spreads, along with its long-standing fixed forex spreads.
Let’s go through the pros and cons of HYCM as well as its general position as a Forex broker.
Benefits:
Available in more than 200 countries
Has great experience in Forex trading
has a number of CFDs such as Forex, Metals, Indices, Oil and Gas, Soft Commodities, Stocks and Cryptocurrencies (trading cryptocurrencies was launched in 2017 on Bitcoin).
To take into account:
• Offers only the MT4 desktop version (not a web version). However, the mobile trading platform is fair enough as it offers both the standard, iOS and Android versions of the MT4 app
Has limited trading tools (no autochartist, Forex News and weekly webinars) – although it offers trading tools such as video courses on various facets of trading, beginner courses, tutorials, trading strategies and e-books
• Has a limited offer in Forex currency pairs with only 38
Advantage factor:
does not charge customers any deposit fees
Conclusion
The solid foundation of HYCM and the more than 40 years of experience in providing broker services to Forex and other organizations make it an ordinary MetaTrader broker. He needs to bring his platform offerings to a higher level in order to keep up with the leading broker trading platforms.
In addition, HYCM fits well with experienced traders, as the complicated features of its trading platform will be problematic for beginners.
HYCM is an experienced broker company. It has been awarded several times as a Forex broker in 2018. However, it has no other offerings that would attract investors and experienced traders. Nevertheless, HYCM can be a reliable trading partner that has a long tradition in retail for many years.
