Review: HYCM or Henyep Capital Markets has been in business for over 40 years. It's a broker site similar to RoboForex.
HYCM: It has clients from all over the Arab world including Qatar.
Review: HYCM is regulated by the FCA in the United Kingdom, CySEC in the European Union, DFSA in the UAE, and CIMA in the Cayman Islands.
Being a run-of-the-mill retail forex broker, there is nothing that stands out for them.
But, then again it's also reliable enough for a small to medium-sized forex and crypto trading account. Just don't deposit tens of thousands of Qatri Riyals with them, and you would generally be fine.
Yes, the official website and app of this broker is safe, legit and trustworthy for online forex and cryptocurrency trading in Qatar.
It's not only forex that HYCM has to offer; it also provides high leverage, stock trading, commodities trading, and more.
For most investors, opening an account with HYCM is a simple process that takes less than 10 minutes.
HYCM's cost structure is flexible, allowing investors to choose the spread choice that best suits their needs.
Traders of all levels may benefit from a broad variety of instructional and investment resources.
Review: HYCM recognises that there is no such thing as a "one-size-fits-all" price. You may choose between three different types of accounts, each with a different set of fees, at this brokerage to suit your degree of comfort with risk and the frequency of your transactions.
If you want to improve your trading skills and have a better understanding of how the world's biggest markets operate, turn to HYCM.
You may watch live webinars, get one of HYCM's textbooks, and learn about impending market events and their expected volatility for free.
It is possible to open a swap-free account with HYCM that does not earn interest. This permits Islamic investors to trade without fear of violating their religious beliefs.
Review: There are a few differences in commission structure between HYCM and
other brokers that focus on trading equities and ETFs.
HYCM has three spreads to choose from. Based on when you trade, your base currency, and whether or not an electronic advisor (EA) is used to aid your trades, the best account for you will be different.
HYCM enables you to trade on a leveraged basis.
To maximise earnings from your transactions, leverage is a sort of margin trading that enables you to increase your purchasing power by using leverage.
Review: According to your location and the currency pair you're dealing with, HYCM offers traders leverage of up to 500:1.
HYCM account minimums may vary based on the base currency of your account and the kind of account you establish.
Review: Before you establish an account, you need have at least $100 to $200 in your account.
HYCM allows traders to choose from five base currencies: USD, EUR, GBP, RUB, AED, and CAD.
To get started with HYCM, just answer a few questions about your location, your preferred method of funding, and your preferred method of communication, and you'll be up and running in as little as 10 minutes.
Each of HYCM's five deposit and withdrawal methods comes with a $0 cost on the overwhelming majority of trades. For most money transfer methods, the minimum deposit and withdrawal amounts are as little as $20.
Review: New traders will find that HYCM's forex education section is full of free publications, videos and seminars that they can utilise to improve their trading skills. "Trading Psychology," "Types of Orders," and "Basic Technical Analysis" are all popular video classes.
There are tutorials on how to utilise MetaTrader's most popular features and how to get started with the platform of your choosing. You don't need a HYCM account to access the video tutorials, which are all free of charge.
For those who like to study in a live setting, try attending one of HYCM's webinars online. Each week, webinars cover a wide range of subjects, including the week ahead, preparing your forex strategy, real-time currency analysis, and more. For those who can't make it to a live webinar, previous sessions are archived on the HYCM website so that you may catch up on the information later on your own schedule.
Customers may get in touch with HYCM's support staff in a variety of ways. If English isn't your first language, you'll appreciate the fact that assistance is accessible in a variety of languages.
Visit HYCM's website and click on the "Live Chat" icon in the upper right-hand corner of the screen to get in touch with a representative.
Please dial +442-08-816-7812 to reach HYCM.
Send a WhatsApp message to +357-972-5968 to get in touch with customer care.
Send an email to firstname.lastname@example.org to get in touch with HYCM.
24/7, 5 days a week customer service is accessible.
Investors may purchase and sell individual shares in 60 of the world's most well-known corporations via HYCM at this time.
For index trading, leverage of up to 200:1 is offered, and for ETF trading, leverage of up to 20:1. Rates start at 5% for margin trading for stock purchases.
Review: Forex currency trading is HYCM's main offering.
A wide variety of currency pairings are available, each with a leverage ratio of up to 200:1. If you have a bank account in any of the five base currencies, you may opt to trade with a 0.50 percent margin rate.
With HYCM, you may choose from a wide range of account options to tailor your trading fees to your own preferences. Islamic investors who need a zero-interest account may use a special swap-free account type.
Review: HYCM provides traders with access to five of the most prominent cryptocurrencies in the world, and the company's platform allows you to convert cryptocurrencies straight into fiat cash.
Trade precious metals and commodities like sugar and cotton using HYCM's contract for difference (CFD) trading platform. This technique enables you to invest in various commodities and profit from price swings without really owning the underlying commodity.
When it comes to getting started in the stock market, HYCM is an outstanding option.
It has a wide variety of account kinds, however rookie traders may have a hard time deciding which pricing structure is best for them.
Review: Globally, the Henyep Group is quite active and focuses mostly on Europe, Asia, and the Middle East.
We'll wrap up this HYCM review by saying that investors should do their own quality research on the regulation of any online trading platform, including verifying the procedures for regulation.
Learn more about Forex.
Sites like HYCM in Qatar
The companies listed in this section provide free registration and forex account opening for the residents:
- Olymp Trade: Crazy popular in Qatar, only God knows why. Thousands of Qatari residents have opened trading accounts at this online broker for some reason. (Olymp Trade Review)
- Ahli Brokerage: Backed by Ahli Bank, their brokerage competes indirectly with Doha Bank's and CBQ's retail trading segment. (Ahli Brokerage Review)
- ADS Securities: Started in 2011, regulated by the Securities and Commodities Authority – UAE; this broker is stationed in Abu Dhabi. (ADS Securities Review)
- Commercial Bank of Qatar: Provides local shares trading in the Qatar Stock Exchange (QSE). (Commercial Bank of Qatar Review)
- Amana Capital: They have offices in the United Kingdom, United Arab Emirates, Lebanon, Cyprus and Malaysia. (Amana Capital Review)
- QNB Financial Services: Qatar National Bank's brokerage services are mainly aimed at foreign institutional investors, mutual funds, domestic institutional investors, high net-worth Qataris, retail and corporate clients. (QNB Financial Services Review)
- Pepperstone: Started its operations in 2010, and is headquartered in Australia, and this is also where most of their forex trading clients reside. (Pepperstone Review)
- Forex.com: Started by GAIN Capital, this broker has been around a while and gets pretty high ranking in Google also (because of its default website name). (Forex.com Review)
- One Financial Markets: AxiCorp (Axitrader forex broker) owns this brand. (One Financial Markets Review)
- Dukascopy: A Swiss bank that focuses on providing financial trading and investment services, way more than what it's mandated to do by The Swiss National Bank, which is to offer its clients retail banking accounts. (Dukascopy Review)
- Plus500: They have been providing online CFD trading services in the Middle East including Qatar for over 10 years now. (Plus500 Review)
- Avatrade: Although this broker is primarily Israeli, their base of operations has been Dublin, Ireland for quite a number of years now. (Avatrade Review)
- eToro: An Israeli social trading broker with tens of thousands of clients from all over the world. It's also fairly popular in Qatar and competes with brokers like the IQ Option and Olymp Trade. (eToro Review)
- XM Markets: No one really knows which country this broker started its operations from or who really owns it, but it does spend a tremendous amount of money on Google and YouTube ads to promote their brand name. (XM Markets Review)
- ForexTime: FXTM is owned by Andrey Dashin, who also founded one of the world's first retail forex brokers back in the early 2000s called Alpari. (FXTM Review)
- IQ Option: Israeli broker that has a popular trading app on both Google Playstore and Apple App Store. (IQ Option Review)
Written by Tariq AlKhaldi
A professional Banker and a part-time writer of financial topics. I'm energetic and highly committed having 10 years of Islamic Banking experience. Full Bio.
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