HYCM is a leading provider of online FX and CFD trading services to retail and institutional investors. The company is part of the Henyep Group, an international conglomerate that was established in 1977, and today operates in financial services, property, education and the third sector.
The Henyep Group is regulated by the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) and has a global presence with offices in the UK, Hong Kong, Cyprus and Dubai.
With its 40-year operational history, HYCM has earned a reputation for offering a trustworthy and transparent online trading service to investors across the globe providing access to an extensive range of assets including currencies, commodities, metals, shares and indices via its state-of-the-art MT4 platform and mobile app.
The Evolving Forex Industry
The forex industry has grown rapidly in recent years as online trading continues to increase in popularity which is also evident from the growing number of forex brokers in the space. This growth has brought about more competition and with acquisition costs continuing to rise, brokers now need to find new ways to manage these developments and prosper in an industry that is set to evolve even further during the coming years.
These factors have caused the structure of brokers’ operations and the entire landscape of the industry to change dramatically and with more stringent oversight from the leading global jurisdictions, we can expect to see more changes along the way.
Despite these factors, forex continues to be a lucrative marketplace and even as stricter regulations come into force, HYCM technological advancements in the area will ensure that the industry continues to launch new products and services.
The increased ease of entry into the market is largely attributable to the rising number of execution platforms and services. This has in part been supported by technological advancements, which have reduced trading costs, increased the speed with which transactions take place and improved transparency.
Technology will inevitably continue to play an increasingly important role in the industry. Some of the more recent advancements we have seen, for example, include trading algorithms and expert advisors which can advise traders on which trades to make. These can also be programmed to automatically execute trades on a live account, making the whole process far more efficient.
The industry has also experienced a shift towards mobile trading, with mobile apps becoming more and more popular, while developments in online payments are facilitating the trading process further still. Not only have technological advancements helped to increase the speed at which transactions take place, they have also reduced trading costs and improved transparency. New technology has therefore placed brokers in an advantageous position by allowing them to frequently increase their client offerings and stay ahead of the competition.
Partnerships are a fundamental part of our business encompassing a range of affiliate, Introducing Broker (IB) and white label programmes. They are increasingly important in the internet age, where maximising online exposure is key to achieving increased sales and longer-term growth. They are also important in an industry where relationship building is central to operations, with successful partnerships often contributing to a considerable part of the revenue stream.
Partnerships help overcome some of the hurdles we might encounter when onboarding new clients, such as driving traffic to a website, breaking into new markets and reaching new customer bases in different countries. For example, HYCM offers comprehensive partnership programmes for affiliates and IBs that are unique to the industry. In addition, HYCM offers White Label solutions, which are a perfect complement for the financial institutions licenced to hold clients funds and regulated in their country of residence.
As a multi-regulated broker with 40 years of experience in the industry, HYCM’s partners benefit from working with a trusted broker with a solid industry reputation and an unparalleled range of compensation packages.
Our partners benefit from a broad range of rebate programmes, which are backed by a highly skilled team that is on hand to discuss all available options. We also offer multi-level marketing rebate tiers, free market reviews for clients, customisable marketing and advertising tools, and local office and events support, which are all geared to help our partners grow their business and maximise their earning potential.
Our newly-launched, fully-integrated IB Terminal stands at the forefront of the industry, allowing for transparent, real-time tracking of client performance and trading activity, with the ability to monitor earnings and manage commissions – all within a secured environment.
The IB terminal also includes a host of added benefits, including multiple URLs for registering clients on different packages, on demand commission withdrawals and the added bonus of two free commission withdrawals per month, thus providing our partners with a sophisticated, user-friendly experience to support and enhance their businesses.
The Road Ahead
HYCM continues to experience major growth and is looking to further build on its success with several plans in the pipeline. They include extending our global footprint into regions that offer new growth opportunities, such as China, the Middle East, South America, Africa and Europe. China in particular has experienced substantial economic growth as people look for new investment opportunities in the region; this in turn has fuelled some of our growth in recent years. The Middle East is another important market for us, in which we are constantly looking to expand our presence through local partnerships.
In terms of new services, we shortly plan to incorporate a new trading platform into our trading infrastructure, thereby expanding the range of trading platforms offered to our clients together with the introduction of variable spreads and the addition of some more exciting tradable assets to our portfolio.