As well as offering the ever-popular industry-favourite MetaTrader 4 platform, HYCM also provide access to the newer MetaTrader 5 platform.
MetaTrader 4 is perhaps the most famous online trading platform designed to provide brokerage services to retail customers in Forex, CFD and Futures markets. It was developed by MetaQuotes Software – a Russian company registered in Cyprus – and first released in July 2005. Among the main features of the platform are the following:
- Market Watch window, which lists the available instruments for trading, bid/ask prices for each of them and the exact time (usually the UTC time zone is used)
- Navigator window, where traders can see their account(s) as well as a large selection of indicators, EAs (expert advisors) and scripts
- Terminal, which has several tabs: Trade, Exposure, Account History, News, Alerts, Mailbox, Market, Code Base, Experts, Journal. Traders can click each one of them in order to become familiar with the particular type of information they contain. The “Trade” tab, for example, is the place where open orders and trades can be viewed, including the symbol, trade entry price, stop loss levels, take profit levels, closing price and profit or loss. The “Account History” tab, on the other hand, lists all of the activity that has occurred, including closed orders, over a selected time period.
- Charts come in three different flavours: line, bars or candlesticks. They are highly customizable – from the colours for each variable, like background, foreground, grid and bars to zoom in/out feature and multiple periodicity options (starting with the 1minute timeframe and going up to the monthly one). Furthermore, a variety of technical analysis indicators can be added to any price chart.
- Order window, where positions can be opened – either through instant execution or via pending orders – or closed and stop loss and take profit levels can be entered
- Expert Advisors (EAs) which can be used to implement strategies and automate trading. They are very popular particularly with traders that have programming skills.
The fact that by now hundreds of brokerage companies have chosen Metatrader 4 is the best testimony that it delivers outstanding value and meets both their and traders’ expectations.
With all the above in mind, it’s easy to understand why HYCM decided to concentrate on MT4 as part of its rebranding efforts.
HYCM (HYCM.com) is a division of The Henyep Group, an international corporation with over 40 years of operational history. The group’s roots lie in Hong Kong, where Henyep Gold Dealers founded as a member of the Hong Kong Gold and Silver Exchange Society in 1977. The following year, Henyep Securities founded as a member of the Hong Kong Commodities Exchange. Since, the group has expanded across four continents. It opened its first branch in New York in 1980, was granted a license by the UK’s financial regulator in 1998, established a presence in Dubai in 2006 and acquired its current CySEC license through an external acquisition in 2015.
They received their UK regulation in 1998 by being licensed by the FCA. Fast forward to 2007, HYCM launched the HY Markets online trading platform. HYCM has multiple international offices and they are in United Kingdom, Hong Kong, Cyprus and Dubai.
HYCM offers trading of currencies, indices, stocks commodities, some cryptos, and ETF’s. As far as I can tell, the choice of trading instruments available through HYCM is quite impressive: 45+ Currency Pairs, 16 Index CFDs, 5 Crypto Pairs, 4 Metal Spot CFDs, 180+ stock CFDs.
HYCM customers can choose to sign up with either a Fixed, Classic, or a Raw account with this broker. The account names refer to the spread model the account follows, with the first account offering fixed spreads starting from 1.8 pips and commission-free trading, the Classic account offering variable spreads starting from 1.2 pips and commission-free trading, and the raw account offering the raw spreads from liquidity providers starting from just 0.2 pips along with a commission of $4 per round-trip.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.