What is HYCM?

HYCM is a global forex broker and one of the oldest and most respected in the industry. They offer a wide range of products, including trading accounts, forex trading services, and CFD trading accounts. The company was founded in 2000 and has grown quickly since then; today it has offices and representatives located around the globe.

HYCM offers an extensive range of products and services to its clients including FX trading, CFD trading, spread betting and managed accounts. In addition to its online platform, HYCM also offers a mobile app for iOS and Android devices.

The official website of the Forex Broker HYCM

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

HYCM Pros and Cons

HYCM is a well-established, heavily regulated broker with a long history of operation. It offers a variety of account types, which makes it easy to get started. The cost of trading is low and the education and research are high quality.

On the negative side, there is no 24/7 customer support and you’ll need to be careful about which entity you choose to trade with as some offer better deals than others. In addition, there are only two trading instruments: Forex and CFDs. The trading platform is MetaTrader only.

 

Awards

HYCM is a highly regarded broker with a long history of operation. The company maintains an environment that’s professional and professional, but it also attracts clients from all around the world and trading community that are consistent of HYCM traders. In fact, HYCM trademark is much-respected brand among traders and investors in the financial industry, which is also confirmed by gained international awards.

 

Is HYCM safe or a scam

Is HYCM a scam? No, it’s not.

HyCM is part of a global company with a stellar track record and is regulated by several authorities FCA, CySEC and DFSA. Therefore, it’s considered low risk and secure to trade Forex at HYCM.

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Is HYCM legit?

HYCM FOREX BROKER is a global broker that offers its traders a wide range of services for trading in the world’s financial markets. It’s main office is Henyep Capital Markets, headquartered in London, and respectfully regulated by the FCA which guarantees to its customers the appropriate legal security and provides convenient conditions for cooperation. Other, additional branches holding appropriate licenses from Dubai, Cyprus etc. which confirms an unparalleled follow of the operational guidelines.

The system is based on a principle of “fairness”, which means that all transactions are performed with real money, without using fake funds or without any other manipulations. The company has been operating since 2012 and has gained popularity among traders due to its high level of security and reliability along with an extensive range of financial tools available for trading on various markets around the world.

HYCM offers its clients access to various types of accounts: standard account (with limited functionality), mini account (with fewer trading instruments available) and VIP account (which includes other benefits). In addition to standard accounts, HYCM also offers virtual accounts for inexperienced traders as well as demo accounts for those who want more practice before opening their own real account with this broker.

 

HYCM entity	Regulation and License
Henyep Capital Markets (UK) Limited	Authorized by FCA (UK) registration no. 186171
HYCM (Europe) Ltd	Authorized by CySEC (Cyprus) registration no.  259/14
Henyep Capital Markets (DIFC) Limited	Authorized by DFSA (Dubai) registration no. F000048
HYCM Ltd	Authorized by CIMA (Cayman Islands) registration no. 1442313

How are you protected?

Strict regulation means that customers are protected. Deposits are segregated and stored separately from the company’s funds, which means they can’t be used by HYCM for personal or business purposes. Clients are also participants of the FSCS compensation program applicable to a particular entity.

In case HYCM is unable to provide further financial services, customers may receive compensation. However, note that regulation varies according to a particular entity where conditions and audit rules are diverse as well.

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Leverage

HYCM has a wide range of accounts, from the entry-level Forex accounts to the more sophisticated and advanced ones. The leverage available for all accounts, depending on which jurisdiction you reside in.

For Dubai and CIMA accounts, you can use a leverage of up to 1:500. This is a very high level for this type of account, and it is allowed only for these locations.

The rest of HYCM accounts will fall under European ESMA regulation, which recently limited leverage to a maximum of 1:30 for Forex instruments.

This means that if you trade with a higher leverage than this limit, your account may be closed without warning and without any compensation.

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Account types

HYCM offers three different trading accounts: Fixed, Classic, and Raw Spread.

Fixed account is a model that uses a fixed spread, which means that commissions are not charged on trades. Classic account offers variable spreads, and Raw spread is provided by interbank spread from 0 pips with commission charged per trade.

However, trading accounts and conditions may vary according to jurisdiction rules.

 

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Fees

HYCM offers a wide range of account types, including Fixed Spreads, Classic Variable Spreads and Micro Accounts. The fees vary according to the account type you select or trade.

Fixed spreads are more suitable for those who prefer stability even during volatile news, while Classic variable spreads are good for different trading styles with no commission added. It is important to get into broker fees too: check additional fees like a commission for deposits and withdrawals as well as non-trading fees.

 

Non trading fees

When you open a position at HYCM, whether it be buy or sell, it is subject to a swap rate determined by the overnight interest rate. The fee varies from one currency to another, for example, selling EURUSD will add 1.25% to your position. However, if you’re buying EURUSD, then you’ll pay -3.25%.

In addition to trading fees, you should also consider inactivity fees. This means that if you have no activity in your account for a certain time frame, HYCM will charge 10$ per month until there is activity again on your account.

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Spreads

HYCM offers three different account types to choose from: Fixed spread condition, Classic Account with variable spreads, and Raw spread.

Fixed spread conditions offer a slightly higher spread but with stability under any circumstances.

Classic Account with variable spreads will include lower spreads that is changing according to volatility and market conditions.

Raw spread is a choice for mainly professional traders as trading fees inbuilt into commission per round, which is 4$.

Besides, there are Islamic trading accounts available for traders with no adjustments. Also, compare HYCM trading fees to BlackBull Markets. See HYCM Spread below.

 

 

 

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Instruments

HYCM is a leading online forex trading and CFD broker offering traders a wide range of financial instruments to trade with.

With over 100 different financial instruments available, including forex, metals such as gold and silver, energy products like oil and gas, commodities, indices and stocks, HYCM has an extensive selection of products for traders to choose from.

 

 

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Deposits and Withdrawals

HYCM offers plenty of ways to consolidate your trading account, including withdrawal of funds from the account. However, the conditions and methods may vary depending on which HYCM entity you are withdrawing funds from.

HYCM has a democratic policy for money transfers, but there are many different ways to do so.

Deposit Options

HYCM Clients can use Visa/MasterCard, Wire Bank Transfers, and various electronic payment methods: WebMoney, UnionPay, Neteller, Skrill, etc. Bitcoin also can be used as a payment method at HYCM.

HYCM Minimum Deposit

HYCM offers a wide range of account types, including a Raw Spread account. This account requires a minimum deposit of $200.

The minimum deposit varies according to the chosen account and starting from $100, but it is subject to change without notice.

 

HYCM minimum deposit vs other brokers

 

	HYCM	Most Other Brokers
Minimum Deposit	$100	$500

 

Withdrawals

If you are looking for an easy and convenient way to manage your expenses, then HYCM is the broker for you. With no fees for deposits or withdrawals, you can easily manage your expenses and make sure to deposit in your account base currency and avoid conversion.

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Trading Platforms

HYCM is a top broker that offers its traders with advanced trading platforms. The MetaTrader 4 platform is HYCM’s preferred choice and has become the mainstay of our offerings, but you can always choose a new version of MetaTrader 5 if you prefer.

 

Web Platform

MetaTrader 4 is one of the most popular trading platforms in the world, and for good reason. It’s easy to use, it’s comprehensive, and it works on any browser.

If you want to trade from anywhere, though, you’re going to want to use MetaTrader 4 Web Platform. It’s designed specifically for use on your phone or tablet, so you can take your trading with you wherever you go.

The only downside is that there are fewer tools available via web platform than there are via desktop MT4. So if you need something more in-depth than what the web version offers, stick with the desktop version.

Desktop Platform

Day trading and professional traders would need a desktop platform that offers the full version of MT4 or MT5. This platform gives access to all of the trading capabilities available in the MT4 platform.

In addition, MT4 is suitable for beginner traders and includes security, 24-hour support, automated trading capabilities, integrated technical analysis tools and indicators, streaming market news, personal VIP dealer services and expert advisors.

 

Mobile Platform

HYCM FOREX BROKER, a leading forex broker in the industry, has launched its new mobile app called HYCM Trader. The platform is designed to offer traders with a more convenient way of trading on their go.

With the launch of HYCM Trader, traders can now trade at anytime and anywhere from their mobile devices. This mobile application is available on both Google Play and the App Store (all you have to do is search HYCM).

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Customer Support

HYCM offers 24/7 customer service via its international phone lines, email, and live chat to help you with any questions you may have about your account. The company also has a team of financial experts who can help you make the right investment decisions and guide you through the process of finding the right broker.

Education

The educational center at HYCM is a fantastic opportunity to learn the skills you need for successful trading.

The educational center provides webinars, seminars, and courses in various locations. You will also find technical analysis and market analysis available with tutorials, MT4Videos, and other essential data.

This is indeed great news for beginning traders especially since it comes together with good education and research tools that can help you find your way into a profitable trading path.

 

➔ Open your free trading account with HYCM now

(Risk warning: 75.59% of retail CFD accounts lose)

Conclusion on HYCM

HYCM Broker is a popular broker in the financial market. The time-tested broker, offering professional services to traders while highly regulated and regarded by traders as a reliable company. Small retail traders can find their way to open a live trading account, as a very small deposit of only $100 allows so. Beginners are most welcome to the company too, with quality customer support team and good education or research.

 

 

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