HYCM
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Popularity | |
Leverage | 1:500 |
Minimum Deposit | $100 |
Regulation | ASIC, CySEC, FCA |
Payment Methods | Bank Wire, Visa/MasterCard, Skrill, Neteller |
Trading Assets | Forex, Commodities, Indices, Stocks, Cryptocurrencies |
MT4 | ✅ |
MT5 | ✅ |
Spreads | Low |
Average cost: EUR/USD | 1.2 pips |
Demo Account | ✅ |
Islamic Account | ✅ |
MAM | ✅ |
PAMM | ✅ |
CopyTrading | ✅ |
ZuluTrade | ❌ |
Scalping | Yes |
Signals | ✅ |
EAs/Robots | Available |
Negative Balance Protection | Yes |
Deposit Fee | ❌ |
Withdrawal Fee | ❌ |
Inactivity Fee | Yes, after 90 days |
Year Established | 1977 |
Address | 3rd Floor, 28 Throgmorton Street, London EC2N 2AN, United Kingdom |
Contact Information | Email: [email protected], Phone: +44-20-3745-8920 |
Phone APP | |
Rating | ★★★★☆ [4.5] |
Website |
Pros and Cons
- Regulated by multiple top-tier authorities
- Wide range of trading assets
- Competitive spreads
- Powerful trading platforms (MT4 and MT5)
- High inactivity fee after 90 days
- ZuluTrade not supported
- Islamic account option could be more accessible
- Limited to no promotions or bonuses
- Customer service response times can be improved
Introduction
In the ever-evolving world of online trading, selecting the right broker is pivotal to a trader’s success.
HYCM, with its decades of experience, stands out as a broker that promises reliability, a wide range of trading instruments, and a commitment to user satisfaction.
This review delves deep into what the broker offers, evaluating its services, platform features, and overall trading environment.
Whether you’re a novice trader or a seasoned investor, understanding the nuances of what HYCM brings to the table is essential for making an informed decision.
Open a free accountCompany Overview
History and Background
HYCM, a division of the Henyep Group, has been in the financial services industry for over 40 years.
With a legacy that spans several decades, the company has grown into a global brand with offices in major financial centers, including London, Dubai, and Hong Kong.
The broker prides itself on offering a stable, secure, and comprehensive trading environment for its clients.
Global Reach and Impact
- Offices: London, Dubai, Hong Kong, and others
- Regulation: Multiple top-tier authorities including FCA, CySEC, and DFSA
- Client Base: Serves clients from over 140 countries
Regulatory Compliance and Security
Licensing and Regulation
HYCM is regulated by countless authoritative bodies, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Dubai Financial Services Authority (DFSA).
These regulations ensure that the company adheres to strict financial standards, offering traders peace of mind regarding the safety of their funds.
Security Measures
- Client Fund Segregation: Client funds are held in segregated accounts, ensuring they are not used for any other purpose.
- Encryption Technologies: Utilizes state-of-the-art encryption to safeguard user data and transactions.
- Negative Balance Protection: Offers negative balance protection to prevent clients from losing more than their account balance.
Regulatory Oversight
Regulatory Body |
Country |
Type of Regulation |
FCA |
United Kingdom |
Full Regulation |
CySEC |
Cyprus |
Full Regulation |
DFSA |
Dubai |
Full Regulation |
Trading Platforms
HYCM provides access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering to traders of all experience levels.
MetaTrader 4
- User Experience: Renowned for its user-friendly interface and robust functionality.
- Customization: Highly customizable with a wide array of charting tools and indicators.
- Expert Advisors (EAs): Supports automated trading through EAs.
MetaTrader 5
- Enhanced Capabilities: Offers advanced financial trading functions, including more technical indicators and timeframes.
- Multi-Asset Trading: Allows trading in forex, stocks, and futures from a single platform.
- Improved Strategy Tester: For EAs with real tick data.
Platform Comparison
Feature |
MT4 |
MT5 |
Instruments |
Forex, CFDs |
Forex, CFDs, Stocks, Futures |
Charting Tools |
30 |
38 |
Timeframes |
9 |
21 |
EAs Supported |
Yes |
Yes |
Hedging |
Allowed |
Allowed |
Account Types
HYCM offers various account types to cater to different trader needs, from beginners to professionals.
Types of Accounts
- Fixed Account: Offers fixed spreads starting from 1.8 pips. Ideal for beginners.
- Classic Account: Variable spreads starting from 1.2 pips without commissions.
- Raw Account: Spreads from 0.2 pips with a commission of $4 per round.
Each account type comes with its set of benefits tailored to different trading styles and strategies.
Open a demo accountTrading Instruments
The broker offers a diverse range of trading instruments, allowing traders to diversify their portfolios and explore various markets.
The broker’s instrument offerings include:
- Forex: Access to over 40 currency pairs, including major, minor, and exotic pairs.
- Cryptocurrencies: Trade popular cryptocurrencies against the USD.
- Stocks: Wide selection of stocks from leading global companies.
- Indices: Trade on major global indices such as the S&P 500, FTSE 100, and DAX.
- Commodities: Includes precious metals like gold and silver, as well as energy commodities like oil.
This variety ensures traders have ample opportunity to engage with the market in multiple ways.
Fees and Spreads
Understanding the fee structure is crucial when choosing a broker.
Their fee model is transparent, with the costs varying by account type:
- Fixed Account: Higher spreads but no commission. Suitable for predictable trading costs.
- Classic Account: Lower spreads with no commission. Favors active traders who prefer variable spreads.
- Raw Account: Lowest spreads with a commission fee. Best for scalpers and high-volume traders.
Example Spreads
Instrument |
Fixed Account Spread |
Classic Account Spread |
Raw Account Spread |
EUR/USD |
1.8 pips |
1.2 pips |
0.2 pips + commission |
Gold |
$0.40 |
$0.35 |
$0.30 + commission |
Oil |
$0.05 |
$0.04 |
$0.03 + commission |
Deposits and Withdrawals
HYCM has streamlined its deposit and withdrawal processes, making it easy for traders to manage their funds.
Key points include:
- Payment Methods: Credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller.
- Minimum Deposit: $100, making it accessible to various traders.
- Withdrawal Times: Processed within 1-5 business days, depending on the method.
Payment Options
Method |
Deposit Time |
Withdrawal Time |
Fee |
Credit Card |
Instant |
1-3 days |
None |
Bank Transfer |
1-5 days |
2-5 days |
May apply |
E-Wallets |
Instant |
Within 24 hours |
None |
Customer Support
The company places a strong emphasis on customer support:
- Availability: 24/5 support through live chat, email, and phone.
- Languages: Supports multiple languages to cater to its global clientele.
- Quality: Knowledgeable and friendly support team.
Education and Resources
The broker offers a wealth of educational resources aimed at traders of all levels:
- Trading Academy: Includes video tutorials, e-books, and webinars.
- Demo Account: Ideal for beginners to practice trading strategies risk-free.
- Market Analysis: Regularly updated market insights and analysis.
Mobile Trading Experience
HYCM’s mobile trading platforms allow traders to manage their accounts and place trades from anywhere:
- MetaTrader 4 & 5 Mobile Apps: Full functionality of the desktop platforms on your mobile device.
- Features: Real-time quotes, charting tools, and trading history.
Market Research and Analysis
HYCM provides comprehensive market research and analysis tools to help traders make informed decisions:
- Daily Market Review: Insights into the latest market trends and events.
- Economic Calendar: Keeps traders updated on important economic announcements.
Conclusion
HYCM stands out as a broker that combines years of industry experience with a comprehensive range of trading services.
With its robust regulatory framework, diverse trading instruments, and user-friendly platforms, it caters to the needs of both novice and experienced traders.
The broker’s commitment to transparency, customer support, and education further enhances its appeal.
Whether you’re looking to trade forex, stocks, or any other financial instrument, HYCM offers a reliable, secure, and dynamic trading environment designed to help you achieve your investment goals.
Visit website: www.hycm.comUser Reviews
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Frequently Asked Questions (FAQ)
What is the minimum deposit?
The minimum deposit is $100, making it accessible for traders of all levels.
Does HYCM offer a demo account?
Yes, it offers a demo account for users to practice trading strategies without risking real money.
Is HYCM regulated?
It is regulated by multiple top-tier authorities including ASIC, CySEC, and FCA, ensuring a high level of security and trustworthiness.
Can I trade cryptocurrencies?
Yes, HYCM offers trading on a variety of cryptocurrencies alongside traditional assets like forex, commodities, and stocks.
What trading platforms does it offer?
HYCM provides access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering to a wide range of trading preferences.
Does the broker offer mobile trading?
Yes, HYCM offers a mobile trading app available for both iOS and Android devices, allowing traders to manage their accounts and trade on the go.
Are there any fees for depositing or withdrawing funds?
The company does not charge any fees for deposits or withdrawals, but it's important to check if your payment provider or bank may impose any charges.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Last update: April 27, 2024