HYCM Bitcoin Broker
HYCM Bitcoin Broker is working out of London in the UK. For people that have been trading for a while, HYCM will be known as one of the oldest and best known Forex brokers around in the industry. When they were founded 35 years+ ago they were called HY Markets. HYCM is regulated and licensed in the United Kingdom.
HYCM Top Bitcoin Broker just recently added Bitcoin to their list of assets so are still relatively new to the cryptocurrency market.
Of course, there wasn’t much choice because throughout the last months, the majority of the brokers decided the same as well.
HYCM Bitcoin Broker General Features
With years of working under their belt, HYCM has made the customer relations and understanding their second nature. Throughout the week, they are literally 24 hours a day active (Monday – Friday) and can be reached by email, live chat, and telephone. There are different email addresses for different inquiries which can be found on their site.
The have a solid platform to trade on and offer the HYCM mobile app for most types of phones.
For those looking for a top Bitcoin Broker, HYCM is a solid choice where you can’t really make any mistakes.
HYCM Trading Platforms
Regardless of your trading requirements, HYCM probably has the right trading platform for you. They offer multiple renowned trading platforms offering the right tools for new traders and for traders that are coming from other brokers.
- PrimeTrader is the main trading platform of HYCM. This is a solid Trading platform that allows the trader to see what he is doing in an understandable way with good customization options and nice graphs.
- MetaTrader 4 is and has been “a must have” platform for most brokers unless they aim for another niche of traders. This MT4 is set up properly and offers you all the trading features that you’d expect from this platform.
They have thrown some good efforts in entering the mobile industry with their platform as well recently resulting in a pleasant environment which is suitable and stable for every client which prefers to trade on the way.
HYCM Trading Platforms
FXTM offers Leverage ranging from 1:50 till 1:400 and the height depends on the currency pairs you are trading.
A special feature that they offer is the free signal service that is integrated in their MT4 giving the traders amazing trading opportunities. The quality of the signals is fair to good and if you combine them with another forex signal service for verification then you should be able to get enough quality forex signals to find your daily trades depending on the selected currency pairs.
Education and Demo Accounts
HY Markets has a number of educational and trading materials on their site. These are:
- A section on forex basics.
- Online lessons and periodic webinars.
- Technical and fundamental analysis.
- A comprehensive Forex glossary.
There are always brokers that offer more in the form of education materials for the absolute beginners in the world of trading but if starting with them should not be a problem based on the available materials.
HYCM Resources and Account Types
Depending on your trading wishes and requirements, HYCM Bitcoin Broker offers three different types of account.
- Micro Account, best suited for new traders. The minimum required deposit is only $100. Leverages go up to 1:500 and the minimum fixed spread is 1.8.
- Standard Account, for more seasoned and experienced traders. With the minimum deposit of $1,000, leverage up to 1:300 and spreads of 1.5.
- VIP Account, for the professional traders. This account requires a deposit of $10,000 and has no limitations. As a VIP you are treated as a VIP meaning your wish is pretty much their command , within reason of course.
Additionally, they offer full Islamic accounts (halal Trading) for all three levels for traders compliant with the Sharia laws.
HYCM Promos & Bonuses
For the best promotions I will always suggest to talk to them since this is sometimes season based and depends also on the amount you are looking to invest. The Normal Promotions is 25% of your initial deposit with a maximum of $5000 as a welcome bonus.
Commissions and Spreads
The commissions and spreads that are obtainable on HY Markets are spelt out below in this snapshot. We can see that the information differs from one account type to another.
Charts on HYCM Bitcoin Charts are available on the respective platforms.
HYCM customer support is available using the following means of communication:
- Customer Service Tel: + 44 – 208 – 816 – 7812
- Live chat online
- Physical Address: 3rd Floor, 28 Throgmorton Street, London EC2N 2AN, United Kingdom, London.
Banking Options and Deposits and Withdrawals
Their regulation here dictates what they are able to offer as compliance rules for the regulation in the UK is not that easy. That said HYCM has all the basic banking solutions set up for you , through Bank wire and all major credit and debit cards like MasterCard and Visa.
The offer also Bank through a few of online e-wallets, including Union Pay and Web-Money.
the same methods that you use in order to deposit you can also use to withdraw your funds.
For some of the methods this process might take a few days till up to a week but there are free of fees getting the exact amount you requested.
The only exception to this rule is, the bank transfer, may have charges due to your bank’s processing fees not because of this broker.
Deposits can be made on HY Markets as follows:
- a) Skrill (Moneybookers) and WebMoney are the e-payment methods.
- b) Bank Cards: PRC Cards, VISA and MasterCard are methods of conducting credit/debit transactions.
- c) Bank wires are also used for depositing and withdrawing funds.
- d) PayPal
The minimum deposit requirement differs from one method of transaction to another, and from one type of account to another. The minimum deposit amount for each transaction type is as follows:
- a) Bank transfers: $250. Transactions are processed within 1-5 days.
- b) All e-payment methods and credit cards: $20. Deposits are processed within one day.
There are generally no maximum deposit limits except for card methods which have a specified deposit limit that is given to traders when they open accounts.
The minimum withdrawal limits also depend on the account type:
- a) Bank wires: $300: Using this method will also attract $30 in fees.
- b) E-payment methods and credit cards: $50. No fees are charged.
Users of PRC cards cannot make withdrawals with this card type.
There are no maximum withdrawal limits. Card transactions and e-payment withdrawals take 7-10 working days while bank transfers take 1-5 working days.
In short, this is a good broker that has the best trading platforms for you to trade on and has the experience to make your trading experience a pleasant one , they understand the need of good service and have one of the best Mobile trading application in the market at the moment. At the same time now that they offer Bitcoin they have rightfully earned a spot among our one of our TOP BITCOIN BROKERS
HYCM Bitcoin Brokers List Broker Details
|Number Of Employees||200|
|Contact Information||Tel:+44 – 208 – 816 – 7812|
|Deposit Options||Credit Card, Skrill, Webmoney, Wire Transfer|
|withdrawal Options||Credit Card, Skrill, Webmoney, Wire Transfer|
|24 Hours Support||Yes|
|Support During Weekends||Yes|
|Customer Support Languages||Arabic, English|
|Supported Trading Platforms||MT4|
|Commission On Trades||No|
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