HYCM RATING -OVERALL SCORE {72.1%} (?)

 

HYCM is an ECN/STP broker registered with the FCA (UK) and part of the vast Henyep Group with over 40 years of operation in the financial services industry.

Deposit Requirements: 100 USD

Funding: Cards | Bank Wire | WebMoney | Local Fund Methods

Platforms: PrimeTrader | MetaTrader-4 | Mobile Traders

Customer Support: English | Arabic | Russian | Chinese

» HYCM Website » HYMarkets Review

 

Chart: HYCM Basic Ratings (Based on ForexRating Formula 5.0)

The RatingFormula 5.0 gives an excellent rating score for HYMarkets as concerns the safety of money, but a low rating score as concerns competition (spreads, commissions, etc.).

Chart: HYCM Special Ratings

HYCM RATING SUMMARY

The following table contains HYCM's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.

FOREX BROKER RATING (MAX 100%)
  • HYCM FUNDS SAFETY
99.4%
  • HYCM TRANSACTION COST
42.9%
  • HYCM TRADING OPTIONS AVAILABLE
70.5%
  • HYCM TECHNOLOGY
78.1%
  • OVERALL RATING
72.1%
TRADING EXPERIENCE  
  • HYCM FOR FOREX BEGINNERS
72.0%
  • HYCM FOR ADVANCED FOREX TRADERS
62.6%
  • HYCM FOR PROFESSIONAL FOREX TRADERS
58.9%
TRADING STYLE  
  • HYCM FOR INTRADAY TRADERS
65.4%
  • HYCM FOR SWING TRADERS (MID-TERM)
73.5%
  • HYCM FOR CARRY TRADERS (LONG-TERM)
42.5%

HYMARKETS (HYCM) DETAILED RATING REVIEW

HYMARKETS RATING ANALYSIS    
HYCM TOTAL RATING   100.0% HYCM
      72.07%  
A. HYCM  SAFETY OF FUNDS MAX WEIGHT→ 28.0% 27.82% Rating the HYCM Safety
A.1 HYCM License / Regulation FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating 10.0% 10.00% HYCM is regulated by the FCA (UK) = 10% rating
A.2 HYCM Client Compensation in Case of Insolvency Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
5.0% 5.00% HYCM offers client compensation (in case of insolvency) up to 50,000 GBP through FCA UK = 5.0% rating
A.3 HYCM Country of Headquarters UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand  = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% 5.0% 5.00% HYCM maintains headquarters in the UK = 5.0%
A.4 HYCM Years in the Market 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% 5.0% 5.00% HYCM was found in 1999 (10+ years) = 5.0% rating
A.5 HYCM Client Account Segregation Client bank account segregation =  2.5% rating | No = 0.0% 2.5% 2.50% HYCM provides full client bank account segregation = 2.5%
A.6 HYCM Web Ratings ForexPeaceArmy Rating = 0.5% rating 0.5% 0.32% HYCM ForexPeaceArmy Rating is 3.2/5.0 = 0.32% rating
A.7 (+) HYCM ADJUSTING RESULTS        
A.7.1 HYCM Corporate Size 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating 1.0% 0.00% HYCM handles less than 250,000 accounts = 0% Rating
B. HYCM TRANSACTION COST MAX WEIGHT→ 28.0% 12.00% Rating the HYCM Transaction Cost
B.1 HYCM spread on EURUSD <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% 7.0% 2.00% Typical HYCM EURUSD spread is 1.8 pip = 2.0% rating
B.2 HYCM spread on GBPUSD <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 0.50% Typical HYCM GBPUSD spread is 2.6 pips = 0.5% rating
B.3 HYCM spread on USDJPY <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 1.00% Typical HYCM USDJPY spread is 2.4 pips = 1.0% rating
B.4 HYCM Trade Commissions No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating |  < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating  7.0% 7.00% HYCM does not charge trading commissions on the tested account type = 7.0%
B.5 HYCM Overnight (SWAP) rates Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% 2.0% 0.00% HYCM rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$16.275 | HYCM rollover on a Short EURUSD trade worth 1 lot ($100,000) is -$2.325 | Total cost in absolute value is more than $5.0, rating = 0.00%
B.6 HYCM Commissions on Funding No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating  2.0% 0.00% Some withdrawal fees may be charged = 0.0% rating
B.7 HYCM Inactive Fees No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating 1.0% 0.00% There are some inactive fees -Charged after 3 months of non-activity ($30 fee) = 0.0% rating
B.8 (+) HYCM ADJUSTING RESULTS        
B.8.1 HYCM Execution Model ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating 2.0% 1.50% STP Order Execution Model = +1.5% rating
C. HYCM TRADING OPTIONS MAX WEIGHT→ 28.0% 19.75% Rating the HYCM Options for Traders
C.1 HYCM Forex Asset Index 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+  Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating 8.0% 6.00% HYCM Provides 35+ Forex Pairs = 6.0% rating
C.2 HYCM CFDs CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% 2.5% 2.50% HYCM offers CFD trading = 2.5% rating
C.3 HYCM CFDs on Futures CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating 1.5% 1.50% HYCM Offers CFDs on Futures = 1.5% rating
C.4 HYCM Free Practice Account Practice Account = 2.0 % rating, No = 0.0 % rating 2.0% 2.00% HYCM Provides a free Demo/Practice account = 2.0% rating
C.5 HYCM Trading Leverage Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating 1.0% 1.00% 300:1 max Trading Leverage = 1.0% rating
C.6 HYCM Bonus/Rebate Promotions   5.0%    
C.6.1 HYCM Welcome Bonus (%) Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating   1.50% 25% Welcome Bonus (Credit Bonus, minimum deposit of US$500, receives 50% of total rating) = 1.5% rating
C.6.2 HYCM Trading Rebate (%) Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating   0.00% HYCM Offers no trade rebates = 0% rating
C.7 HYCM Min. Account Size Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating 2.0% 2.00% The min. deposit amount is $50 = 2.0% rating
C.8 HYCM Number of Deposit Methods For every deposit method = 0.5% rating | max = 5 methods 2.5% 2.50% HYCM offers 5+ deposit methods (including Bank Wire, Cards, WebMoney, Neteller) = 2.5% rating
C.9 HYCM Number of Withdrawal Methods For every withdrawal method = 0.5% rating | max = 5 methods 2.5% 0.50% HYCM offers only Bank Wire as a withdrawal method in order to withdraw your profits = 0.5% rating
C.10 Minimum Stop-Order Levels (in pips) 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating 1.0% 0.25% HYCM offers 4 pips minimum stop-out order distance = 0.25% rating
C.11 (+) HYCM ADJUSTING RESULTS        
C.11.1 Offering more than 100 Forex Pairs Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating 1.0% 0.00% 35+ Forex pairs = +0% rating
C.11.2 Paying Interest on unused funds Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating 0.5% 0.00% No = +0%
C.11.3 HYCM Contests Contests = 0.25 % rating | No = 0 % rating 0.25% 0.00% No = +0%
D. HYCM TECHNOLOGY MAX WEIGHT→ 16.0% 12.50% Rating the HYCM Technological Efficiency
D.1 HYCM Trading Platforms Availability For every Platform = 1.0% | max = three (3) platforms 3.0% 2.00% HYCM Platforms include MT4 and HYMC PrimeTrader  = 2.0%
D.2 Trading-On-Charts Offering Trading-On-Charts = 1.0 rating | No=0% 1.0% 1.00% HYCM is offering 'Trading-On-Charts' = 1.0% rating
D.3 HYCM Slippage on Execution Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating 1.0% 0.00% HYCM Slippage on execution is more than 1.75 pip and less than 2.0 pip = 0.0% rating
D.4 HYCM Automated Trading Allowance Automated Trading is Allowed = 2.0 % rating  / No = 0 % rating 2.0% 2.00% HYCM allows automated trading = 2.0% rating
D.5 HYCM MT4 Platform Availability MT4 is Provided = 2.0 % rating / No = 0 % rating 2.0% 2.00% HYCM offers the MT4 platform = 2.0% rating
D.6 HYCM Mobile Apps iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points 2.0% 2.00% HYCM offers an MT4 App for iPhone, Windows, and Android = 2.0% rating
D.7 HYCM Allowing Scalping / Hedging Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating 1.0% 0.50% HYCM allows only Hedging = 0.5% rating
D.8 HYCM Customer Service 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating 4.0% 3.00% HYCM offers 24/5 Customer support = 0%, via eMail, Phone, Live Chat = 3.0% | Total rating is 3.0%
D.9 (+) HYCM ADJUSTING RESULTS        
D.9.1 HYCM PAMM / MAM Accounts PAMM / MAM Accounts = +0.5% rating | No = 0 % rating 0.5% 0.00% No = 0%
D.9.2 HYCM Free VPS Free VPS = +0.5% rating | No = 0 % 0.5% 0.00% No = 0%
D.9.3 HYCM API Trading API trading = +0.5 % rating | No API = 0.0 % rating 0.5% 0.00% No = 0%
    TOTAL HYCM RATING 72.07%  

HYMARKETS (HYCM) LICENSES AND LEGAL INFORMATION

The broker belongs to a large financial group (Henyep Group) that maintains headquarters in London, UK and other offices in Hong-Kong, Cyprus, Dubai, and Kuwait.

■ HYCM or else HYMarkets is the trading name of Henyep Capital Markets Limited

■ HYMarkets is part of the Henyep Group, an international group operating in 20 countries, since 1976

■ HYMarkets is regulated by FCA (UK), Registration Number: 186171

■ HYMarkets covers up to 50,000 GBP per client in case of corporate insolvency (FCA UK scheme)

 

 

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