Get an insider's take on HYCM's success.
HYCM is a globally established forex broker under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.
Since its conception, HYCM has won over 20 awards including the categories Best Forex Broker and Best Forex Trading Platform.
Giles Coghlan is HYCM’s Chief Currency Analyst and utilises over 10 years of trading experience to help HYCM clients by providing daily market updates, online webinars and workshops, and in-person seminars.
He is also a contributor to major forex and financial media including City A.M., Yahoo Finance, CNBC Arabia and Forbes Middle East.
Today Giles shares his expertise with Finance Magnates and discusses the secrets to the company’s success and what the rest of 2020 potentially holds for the trading industry.
How has HYCM stayed ahead of the competition with its comprehensive offering for retail traders?
As part of the Henyep Capital Markets Group, HYCM shares over 40 years of Group experience which is quite a lot for the modern forex market.
When the industry opened its doors to retail clients, we were already an established expert in the financial markets; this groundwork is one of our key advantages.
Over these four decades we have covered several milestones, including becoming a member of the Hong Kong Futures Exchange, and our chairman joining the Commodities Exchange of New York (COMEX).
We also have licenses in several jurisdictions including the FCA, CySEC, and DFSA, and have partnered up with leading providers such as Barclays Bank, Eurobank, Moore Stephens and BDO Ltd, part of BDO International, the fifth largest accountancy network in the world.
Henyep Capital Markets Group has businesses in capital markets and securities, direct investments, financial services, property, education, and charity.
So, our clients know they are trading with one of the most solid and secure brokers in the world.
What are the core products HYCM offers to trade, and which of these are the most popular for clients?
HYCM offers over 100 trading instruments including forex, commodities, indices, ETFs* and cryptocurrencies**, exceptional trading conditions, account types for every trading style, cutting-edge technology, and unlike many other brokers, we offer trading on both MT4 and MT5 platforms.
Some of our most-traded instruments are major forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, bitcoin, commodities like oil and gold, and indices such as the US100, US30, US500, HK50, and the GER30.
Of course, it depends on the location and jurisdiction as we operate globally with offices in key financial locations including the UAE, Cyprus, Hong Kong, and our headquarters in London.
It is also worth mentioning that the majority of our traders are experienced traders.
We also work with big investors and institutional clients who select HYCM for its excellence and reputation.
Giles, you are a professional trader yourself. How do you go about sharing your experience with traders?
I have been trading for over 10 years now and am very happy to share my expertise with our clients by providing regular market updates, online webinars and hosting in-person seminars and workshops for advanced traders across the globe.
For instance, every Monday I run a free FX Week Ahead webinar in which we look at the upcoming week while analysing market movements.
Traders will learn how to understand market sentiment and prepare for market-moving events, as well as benefit from a live Q&A session.
Every Wednesday, in the popular Level Up with HYCM workshop we focus on practical exercises and learning the technical side of trading, which does require a demo account to complete the exercises.
How do you see the market responding to the current situation with coronavirus?
We have seen a temporary recovery of equity markets from recent lows due to the extreme levels of government support to prop up their economies.
The Federal Reserve announced virtually unlimited quantitative easing at the height of the crisis and trillions of dollars of rescue packages.
This gov’t response has been repeated across all the major economies and essentially propped up the falling equity markets.
However, I see more downside in stocks in the future as earning levels are released. One area I am looking at is that of previous pandemics, like the great flu pandemic of 1918, and how it came in waves.
If we see a second and third wave of the COVID-19 outbreak I will be looking for a fresh leg lower in stocks and record highs for gold prices.
What does 2020 hold for HYCM? Are there any goals or projects the company has in the pipeline?
This year we have already launched a new product; exchange-traded funds (ETFs) on our MT5 platform, which are currently only available under HYCM Ltd.
We now offer 20 different ETFs including the top three most-traded ETFs: SPDR S&P 500, iShares Russell 2000 Index, and VelocityShares 3x Inverse Crude Oil ETN.
In this era of high volatility including the current situation with coronavirus, ETFs are very desirable as traders are looking for less volatile instruments.
We have also introduced a new referral program*** to reward our clients who invite their friends to register and start trading with HYCM.
It is fully automated and integrated into the HYCM client portal, making it very easy to use and one of the main benefits of the program is that these rewards can be withdrawn.
We are always working on improving our products and technology and looking for ways to thank our active traders for their loyalty and dedication, as well as expanding our offerings to new clients.
* Only available under HYCM Ltd.
** Not available under HYCM (Europe) Ltd.
*** Not available under HYCM (Europe) Ltd.
HYCM is the global brand name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, Henyep Capital Markets (DIFC) Ltd and HYCM Ltd, all individual entities under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.
High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.