Henyep Capital Markets Limited (HYCM) is a Forex broker with over 40 years of experience on the market. It provides brokerage services in more than 140 countries worldwide and has five offices in the world’s leading financial centers. The broker is regulated by the Financial Conduct Authority in the United Kingdom, the Cyprus Securities and Exchange Commission in Europe, the Cayman Islands Monetary Authority, and the Dubai Financial Services Authority in the United Arab Emirates.
Since the broker is multinational and serves hundreds of thousands of international clients, it allows the traders to operate their accounts in different base currencies. Available currencies for HYCM trading accounts are USD, EUR, GBP, RUB, AED, and CAD. The minimum deposit requirement of an HYCM broker is 100 US dollars, however, it varies according to the trading account type that the clients choose. We will cover all three account types of the broker and their respective deposit requirements, as well as the minimum deposits in different currencies.
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HYCM runs three different live trading accounts. Traders can open a free unlimited demo account for each of them to test out the platforms and services of the broker without putting their financial resources at risk. The three account types with HYCM are Fixed account, Classic account, and a Raw Spread account.
The Fixed account type of the HYCM broker is one of the most common account types. It offers fixed spreads starting from 1.8 pips on the most popular Forex currency pairs including EUR/USD and GBP/JPY. The account operates without any commission fees. It is one of the best options for clients who do not require copy trading platforms or Expert Advisors. Here are the details of the account:
The Classic account of HYCM is a bit more flexible account type of broker than the Fixed account, however, the minimum deposit requirement remains the same. It offers variable spreads starting from 1.2 pips on the Forex currency pairs and also operates without any commission charges. In contrast to Fixed account, Classic account holders can use Expert Advisors. The details of the Classic account:
The HYCM Raw Spread account is a premium account of the broker. However, it is also the most expensive one out of three account types available. Raw Spread account is the best option for intermediate and professional traders, as well as beginner traders who are looking for ultra-tight spreads on Forex currency pairs. The account type offers spreads from 0.2 pips. However, the account comes with a commission rate of 4 US dollars per round (57 ZAR/ 5.6 SGD/ 3.4 EUR). The account details are as follows:
HYCM offers fast and hassle-free transactions supported by numerous leading payment solution companies. The HYCM broker does not charge for depositing funds with the broker, however, there might be charges from the banks. The broker will furthermore deduct any charges that you might pay with the bank on deposit, so you can enjoy 0 fees on deposits with HYCM. As for the withdrawals, the amounts above 300 US dollars are not charged with any commission. But, depending on the bank that you use, you might get charged on the withdrawals. Skrill and Neteller also charge on withdrawals over 5,000 USD in the amount of a 1 % processing fee.
Below are the available payment options for deposits along with minimum deposit requirements and processing times:
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