Note: Regrettably, the official website of HYCM, namely https://www.hycm-kw.com/en, is currently experiencing functionality issues.
What is HYCM？
Hybrid Central Market, known as HYCM, is a trading platform based in Saint Vincent and the Grenadines. It operates without regulation, offering a variety of live trading accounts - RAW, FIXED, and CLASSIC, each tailored to meet the diverse needs of traders. With a minimum deposit requirement of $100, HYCM provides access to the foreign exchange market via the popular MT4 and MT5 trading platforms. However, the current inaccessibility of HYCM's official website raises concerns about the platform's stability and reliability.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros:
- Range of Trading Platforms: The availability of popular trading platforms such as MT4 and MT5 provides traders with access to a wide range of trading tools, analysis, and automated trading capabilities.
- Multiple Customer Support Channels: The platform offers various customer support channels, including phone, email, and social media platforms, providing clients with multiple avenues to seek assistance and guidance.
Cons:
- Lack of Regulation: HYCM operates without regulatory oversight, which may raise concerns about investor protection and the platform's overall credibility and transparency.
- Inaccessibility of Official Website: The reported inaccessibility of HYCM's official website will contribute to doubts regarding the stability and reliability of the trading platform, potentially impacting the user experience and trust in the platform.
Is HYCM Safe or Scam？
At present, HYCM operates without a valid regulatory framework, leaving its operations unchecked by government or financial authorities. This absence of oversight significantly heightens the risk associated with investing in the platform. Without regulation, there is a real possibility that those managing the platform could misappropriate funds without being held accountable for their illicit actions.
Additionally, the inaccessibility of HYCM's official website further amplifies doubts about the reliability and stability of its trading platform, exacerbating the overall risk for investors. These various factors combine to create a substantially elevated level of risk for anyone considering investing with HYCM.
Account Types
HYCM offers three types of live trading accounts - RAW, FIXED, and CLASSIC, each designed to cater to the specific trading needs and preferences of different users.
-The RAW Account
The RAW account type is designed for experienced traders who require fast execution speeds and access to raw market spreads. The minimum deposit requirement for this account type is $200, and it offers a commission-based fee structure.
- The FIXED Account
The FIXED account type is ideal for those traders who prefer a more predictable and straightforward fee structure. With a minimum deposit of $100, the FIXED account charges a fixed spread.
- The CLASSIC Account
The CLASSIC account type is suited to traders who are new to the market or who prefer a more traditional fee structure. Its minimum deposit requirement is also $100, and it charges a fixed spread.
Spreads & Commissions
HYCM offers competitive spreads across its range of account types to accommodate different trading preferences and styles. The RAW account features tight, market-based spreads starting from 0.1 pips.
On the other hand, the FIXED account type provides traders with predictability, featuring a fixed spread starting from 1.5 pips. The CLASSIC account, with spreads starting from 1.2 pips, offers a middle ground between the RAW and FIXED accounts. costs.
While the spreads for each account type are readily available, specific information regarding commissions is not easily accessible due to the current inaccessibility of HYCM's website.
Trading Platforms
HYCM provides its clients with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are highly regarded in the industry for their intuitive interface, advanced charting tools, and customizable features. MT4 and MT5 enable traders to access a broad range of financial instruments, including currency pairs, commodities, indices, and stocks, making HYCM a flexible and versatile trading option for investors.
The MT4 platform boasts an impressive list of features, including a wide array of technical indicators and charting capabilities. With MT4, traders can automate their trades and create custom indicators to generate trading signals. Additionally, the platform supports multiple order types, including market, stop, and limit orders, enabling users to customize their trading strategies to suit their unique risk profiles.
In contrast, the MT5 platform provides an expanded range of analytical tools for traders. It features an economic calendar, depth of market options, and an enhanced market watch window to help traders stay informed of global economic events and market conditions. Additionally, MT5 provides advanced risk management tools, allowing traders to set up custom pricing alerts and to hedge trades to minimize potential losses.
Deposits & Withdrawals
HYCM provides a range of convenient and flexible options for both depositing funds into trading accounts and withdrawing profits. Clients can choose from several popular and widely used payment methods, including bank transfer, credit cards, WebMoney, Neteller, Skrill, and PerfectMoney.
Bank transfers offer a traditional and widely accepted means of depositing and withdrawing funds, catering to clients who prefer direct transactions between their bank accounts and their HYCM trading accounts. This method is known for its reliability and security, particularly for larger transfers.
Credit card payments provide a convenient and swift way to fund trading accounts, allowing clients to use their Visa or MasterCard to instantly deposit funds. Likewise, clients can conveniently withdraw profits back to their credit cards, offering a streamlined process for managing trading capital.
E-wallets like WebMoney, Neteller, Skrill, and PerfectMoney offer clients additional options for depositing and withdrawing funds. These digital payment platforms provide fast and secure transactions, allowing clients to manage their trading accounts with ease. E-wallets are particularly popular for their speed and flexibility in processing transactions, making them a preferred choice for many traders.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +44 2088167812
Email: technicalsupport@henyep-kcic.kw
support@hycm.com
Address: Trust House, 112 Bonadie Street, Kingstown, POB 613 Saint Vincent and Grenadines
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram, YouTube and Linkedin.
Conclusion
In conclusion, HYCM offers access to popular trading platforms, providing potential benefits for traders looking for cost-effective and versatile trading opportunities. However, the lack of regulation and reported inaccessibility of the official website raise concerns about the platform's overall reliability and transparency.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
