HYCM Review
HYCM is a well-established broker since 1977. HYCM has headquarters in United Kingdom, Cyprus, United Arab Emirates, Cayman Islands and St. Vincent & Grenadines. HYCM to provide their Forex/CFD trading services to over 4 million clients.
This broker has also been regulated by FCA 186171, CySEC 259/14, DFSA (Dubai) 000048, CIMA 1442313 and SVGFSA 25228.
Major Information
💲 Min Deposit $100
⚖ Max Leverage 1:325
💡 Min Position 0.01 lot
🌐 Website www.hycm.com
⌛ Year Established 1977
4.30/5
Extensive Review
Formerly known as HY Markets, HYCM is a forex broker headquartered in London, UK. First established in 1977, this broker now has been regulated by the FCA (Financial Conduct Authority), the UK's trustworthy and reputable regulatory agency for more than 20 years. Besides, HYCM has also been regulated by other reputable agencies like CIMA (Cayman Islands Monetary Authority), CySEC (Cyprus Securities and Exchange Commission), and DFSA (Dubai Financial Services Authority).
Regulated by world-renowned financial regulators as well as having representations in the United Kingdom, Hong Kong, Cyprus, and Dubai, clients who open an account in HYCM can rest assured they are trading with a solid and secure company that excels in delivering one of the best trading solutions.
As a part of Henyep Group, HYCM opts to provide wide access to various trading markets including currencies, stocks, and commodities. Besides, HYCM has accumulated a large collection of awards since its inception, including World Finance’s Best Mobile Trading Platform (2017) and Global Banking & Finance Review's Best Forex Broker, UAE (2017).
Its recognition as an industry leader has helped HYCM to be known as the best broker across the globe. With a long track record of its ability in providing an outstanding and trustworthy trading experience, HYCM offers clients everything they need to make well-informed trading decisions.
HYCM offers some excellent trading conditions for their clients, including great liquidity and low spreads, as well as delivering a super-efficient service. Those services are in line with their commitment to focus on fast execution and low-cost trading. Any trading conditions offered by HYCM is differed by the instruments being traded:
Forex
- Spread: starts from 0.2 pips
- Maximum Leverage: 1:30
Stocks
- Spread: starts from 18 pips
- Maximum Leverage: 1:5
Indices
- Spread: starts from 2.0 pips
- Maximum Leverage: 1:20
Commodities
- Spread: starts from 3.0 pips
- Maximum Leverage: 1:20
Since HYCM is intended to be a broker of the most updated technology, they strive to stay ahead of industry trends by adopting the latest technologies to fulfill their clients' evolving needs. HYCM provides both MetaTrader 4 (MT4) and MetaTrader5 (MT5) trading platforms, to assist traders from all skill levels, together with advanced technical analysis, flexible trading systems, and Expert Advisors, as well as mobile trading applications.
For those who are newbies to the forex field, HYCM has helped much by preparing lots of educational resources and comprehensive product offerings. There are some forex tutorials, trading strategies, forex ebooks, and beginners' courses. Trading in HYCM also provides some useful tools, including calculators, economic calendar, news, and market outlook. Those overall services are a good choice for investors of all kinds, from beginners to professionals.
Last but not least, HYCM also offers various convenient deposit and withdrawal methods through bank transfer, credit card, and e-payment (Neteller, Skrill). Although bank transfers can take up to 5 days to appear in the trading account, all other methods are instantly processed for immediate trading. Numerous currencies are accepted as base currency including US Dollar and Euro, as well as KWD (Kuwaiti Dinar), AED (United Arab Emirates Dirham), RMB (Chinese Yuan), and SAR (Saudi Riyal).
If you are looking for a reputable and trustworthy broker with whom to begin trading and invest your funds, HYCM is a good choice. As they are fully licensed and regulated, investors are guaranteed the security of their financial and personal details. The choice of user-friendly trading platforms makes HYCM a sensible selection for both novices and experienced traders.
Company Information
Account Information
Apart from the forex demo account, this broker offers FIXED, Classic and RAW. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by HYCM is up to 1: 325. Meanwhile, you can open an account with a starting capital of $100.
Min Deposit
$100
Max Leverage
1:325
Spread
Fixed
Commission
$4
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, HYCM also offers some instruments you would like to trade on, such as Forex, Stocks, Indexes, Soft commodities, Metals, Energies and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for FIXED account, HYCM specifically provides it with the following instruments and leverage:
💲 Min Deposit $100
💡 Min Position 0.1 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Instruments Traded
Besides lots of currency pair, HYCM also offers some instruments you would like to trade on, such as Forex, Stocks, Indexes, Soft commodities, Metals, Energies and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Classic account, HYCM specifically provides it with the following instruments and leverage:
💲 Min Deposit $200
💡 Min Position 0.1 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
One-Cancels-Other (OCO) orders
1️⃣ One-click trading
💸 Commission $4
Instruments Traded
Besides lots of currency pair, HYCM also offers some instruments you would like to trade on, such as Forex and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for RAW account, HYCM specifically provides it with the following instruments and leverage:
Forex
1:100
Crypto
1:20
Payment Methods
WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
HYCM also provides payment with Perfect Money, Crypto and Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, HYCM offers you MetaTrader 4 and MetaTrader 5.
Customer Support
Do you have any question or find any trouble related to HYCM? If you do, you should reach HYCM's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About HYCM
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if HYCM is a good broker for you or not by reviewing the criteria. In general, HYCM provides trading service in Forex , Stocks , Indexes , Soft commodities , Metals , Energies and Crypto . As for the payment methods, you can choose between WebMoney, Skrill, Wire transfer, Credit/debit cards, Neteller, Perfect Money and Crypto. The customer support is available via Email, Phone, Callback and Live chat.
The starting capital in HYCM is $100.
HYCM is regulated by FCA 186171, CySEC 259/14, DFSA (Dubai) 000048, CIMA 1442313 and SVGFSA 25228. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
HYCM is a brokerage company offering trading services for clients since 1977 with offices in United Kingdom, Cyprus, United Arab Emirates, Cayman Islands and St. Vincent & Grenadines.
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2 Comments
Baroma Traivut
Aug 8 2023
A lot of the information here is good as far as I can confirm, but some of it might be outdated, such as the max leverage which is actually up to 1:500, and the account that charges commissions. But I really want to know, is scalping really not allowed on the platform?
Ravi Nayar
Aug 12 2023
@Baroma Traivut:
It can not be like that. You can not ban scalping because it is just one of the trading strategies. And all that high leverage stuff is actually very useful for scalpers. As far as I know it is even better to scalp at HYCM due to almost no slippages and spreads.