HYCM was established in 1972 as a gold and silver trader in Hong Kong, and the HY Markets online trading platform was launched in 2007.
Henyep Investments (UK) is licensed by the FCA, and they provide access to trading services in 140 countries through five offices around the world.
Using HYCM, traders have access to more than 100 trading instruments including forex, CFDs, stocks, commodities and indices on the popular MetaTrader 4 and MetaTrader 5 platforms.
There are three levels of accounts available, each aimed at different types of traders. The Fixed Account offers fixed spreads form 1.8 pips and no commission, while the Classic Account offers variable spreads from 1.2 pips with no commission and offers the use of EAs. These accounts have a minimum deposit of $100.
For those that want the best price on the spread and would rather pay a set commission, the Raw Account offers raw spreads from 0.2 pips, but a $4 per round commission fee. EAs can be used on this account, and the minimum deposit is $200.
HYCM is regulated by both the FCA and CySEC and offers negative balance protection so it is considered a safe platform. Education is provided in the form of a knowledge base, webinars, workshops and seminars, and research for traders is provided with a news feed and an economic calendar.
For those new to forex, there is a free self-paced beginner’s course on forex available on HYCM that allows newcomers to get to grips with what trading forex is about.
This self-taught course takes the beginner trader through everything they need to know, with modules about terms and concepts, understanding order types and types of forex trading, as well as tactics and strategies.
Alongside this is educational materials regarding trading strategies and different types of analyses.
There is also a forex eBook available to download.