HYCM Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of HYCM trading signals. You will learn what kinds of trading signals HYCM offers and what the conditions for using them are.
Short introduction of HYCM
HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc.
| 💰 Account currency: | EUR, USD, GBP, RUB, CAD, AED |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:500 |
| 💱 Spread: | From 0.1 pips |
| 🔧 Instruments: | Forex, indices, metals, oil, gas, commodity markets, securities, cryptocurrency |
| 💹 Margin Call / Stop Out: | 100% / 20% |
HYCM Pros and Cons
👍 Advantages of trading with HYCM:
•extensive experience and reliability - the company has been operating for over 40 years;
•excellent trading conditions;
•good liquidity;
•fast execution of orders;
•over 300 trading instruments;
•5 types of investments;
•spreads from 0.1 pips;
•multilingual support in 14 languages;
•customer service in popular apps: Skype, Viber, Telegram, WhatsApp and Facebook;
•convenient mobile platform, which is one of the best;
•protection against negative balance.
👎 Disadvantages of HYCM:
•customer service does not work on weekends;
•inconvenient for scalping;
•few opportunities for passive trading;
•there is no cent account.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
HYCM Trading Signals
HY Markets has been checked by our experts for the existence of trading and non-trading commissions. The company’s spread was considered as a trading commission, and additional fees for withdrawing funds were considered as a non-trading commission category.
| Account type | Spread (minimum value) | Withdrawal commission |
| Fixed | From $18 | No |
| Classic | From $12 | No |
| Raw | From $1 | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that HYCM does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
In which form can signals be provided?
Signals can be provided as copy trading, newsletters, alerts, blog articles, etc.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.