Launched in 1977, Henyep Capital Markets opened its doors as a member of the Hong Kong Gold and Silver Exchange Society. Decades later, the company now has multiple awards gleaming on its shelf and has been honoured by an array of notable financial publications. Its most recent milestone was consolidating its capital markets investment brands and launching its multi-platform online trading website. HYCP sees itself travelling in no direction but up in the years to come.
After hearing about HYCM’s popular reputation, I decided to give it a shot. I was delighted to learn that it offers micro accounts, since I didn’t want to trade a large amount of money as I’m still a novice. While my journey started off with a customer service-related hiccup, the website held my hand from there and I actually made a few bucks! Here’s a summary of my experience.
Henyep Capital Markets (HYCM) has spent the past 35 years building its reputation from scratch. Since its inception, the investment broker is the winner of multiple prestigious accolades and has been crowned the best retail platform by several financial publications. Headquartered in London, the company is regulated by the Financial Conduct Authority (FCA).
Bonus and benefits
Setting up an account with HYCM is a breeze. If your trading skills are new or a little rusty, flex your trading muscles with a demo account. If you want to plunge straight in, you can choose from three options – the micro, standard or VIP account. For those on a budget, the micro account is the best bet as it allows you to start trading with an initial deposit of only 100 USD. HYCM also offers benefits, which is 25% of your initial deposit. Oddly, this should be considered virtual as you cannot withdraw it. I found this appalling, but the customer agent claimed it was company policy.
While I was delighted that HYCM’s website had a live chat tool, my excitement promptly turned into irritation at the quality of the company’s regional customer care. The agent barely had a firm grasp on basic grammatical structure let alone company information. I found it a taxing task chatting with him, and didn’t reel much information out of him without a struggle.
You can Forex trade via three accounts with HYCM – Micro, Standard, and VIP. The commodities are varied and diverse, including cocoa, coffee, sugar, cotton, oil, natural gas, brent oil, gold, silver, and copper. You can also trade stocks in notable companies, namely Apple, Google, Alibaba, Microsoft, Amazon, and several more.
HYCM guards its customers’ details are encrypted with VeriSign issued 128-bit-SSL certificates. The company prides itself in its transparency, and has designed its withdrawal process to suit its user’s comfort. HYCM goes the extra mile to ensure its traders feel secure every step of the way. I couldn’t withdraw my finances for some reason, and instantly got in touch with the company. It apologised for the issue, and sent my funds over to an alternate identified bank account.