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HYCM

HYCM is a well-established broker since 1977. HYCM has headquarters in Hong Kong, United Arab Emirates and United Kingdom. They are generally well-suited for HYCM to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by CIMA 1442313, CySEC 259/14, DFSA (Dubai) 000048, FCA (UK) 186171 and FSA (St. Vincent & Grenadines) 25228.


Company Information

🌐 Website
www.hycm.com

Year Established
1977

🌎 Country
Cayman IslandsCyprusUnited Arab EmiratesUnited KingdomSt. Vincent & the Grenadines

💼 Regulation

Features

🕋 Islamic accounts available

Account Information

Apart from the forex demo account, this broker offers RAW, Classic and FIXED. 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.

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Min Deposit

$100

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Max Leverage

1:325

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Spread

Fixed

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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 $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

💻 Browser-based platform

Instruments Traded

Besides lots of currency pair, HYCM also offers some instruments you would like to trade on, such as Forex and Cryptocurrencies 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

Forex
1:100

Cryptocurrencies

Cryptocurrencies
1:20


💲 Min Deposit $100

💡 Min Position 0.1 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

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 Cryptocurrencies 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:


Forex

Forex
1:325

Indexes

Indexes
1:89

Metals

Metals
1:205

Energies

Energies
1:226

Cryptocurrencies

Cryptocurrencies
1:20


💲 Min Deposit $100

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

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 Cryptocurrencies 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:


Forex

Forex
1:325

Indexes

Indexes
1:89

Metals

Metals
1:205

Energies

Energies
1:226

Cryptocurrencies

Cryptocurrencies
1:20

Payment Methods

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.

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.

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 Crypto, Perfect Money 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

Arabic
Chinese
Russian

Office Support

Email Support

Call Support

Chat Support

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.



FAQ About HYCM

Is HYCM a good broker?

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 , Cryptocurrencies , Stocks , Indexes , Soft commodities , Metals and Energies . As for the payment methods, you can choose between Crypto, Credit/debit cards, Neteller, Perfect Money, Skrill, WebMoney and Wire transfer. The customer support is available via Callback, Email, Live chat and Phone.


What is the minimum deposit for HYCM?

The starting capital in HYCM is $100.


Is HYCM regulated?

HYCM is regulated by CIMA 1442313, CySEC 259/14, DFSA (Dubai) 000048, FCA (UK) 186171 and FSA (St. Vincent & Grenadines) 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.


Is HYCM legit?

HYCM is a brokerage company offering trading services for clients since 1977 with offices in Hong Kong, United Arab Emirates and United Kingdom.


50 Reviews

Eilo Ruonakoski
Finland Jan 17 2023

It covers much. Hycm is a reliable broker.

Vass Alex
Hungary Jan 14 2023

Somebody can state that absence of alternative trading platforms is bad. But I think Metatrader is the best option and the most powerful trading platform that perfectly fits in the HYCM canvas.

Luka Postma
Netherlands Jan 7 2023

It's amazing that this broker provides MetaTrader as the main trading platform. It is so important for me because I have a few indicators I would like to use on this platform. By the way, is trading EAs allowed here?

Chesley Kihn
PhilippinesJan 22 2023

Luka Postma:Of course, EAs are allowed for you to utilize on MT4 which HYCM supports. HYCM also provides a guide-like tutorial on how to set up the EAs and use them direct your automatic trading.

Robert W.
Germany Jan 5 2023

Good article about one of the major brokers of the forex industry for sure. But there are some inaccuracies. For example, the article says that max leverage is 1:325 for currency pairs, yet in reality, it's 1:500. Which is a massive difference for those who are heavy leverage users in their trading.

FBerg
Sweden Dec 28 2022

HYCM has nice account conditions. I bet it can suit different types of traders.

KartiK
India Dec 20 2022

When someone asks me which broker opened my trading account, I do not hesitate to name HYCM. Because despite the specifics of this broker, on the whole, it is a reliable company.

Tam Leeyao
Thailand Dec 11 2022
Account Number: (75412002xxx)

the fact that minimum deposit on Raw account compiles only 200$ is delightful for me, as this is the sum I had when I started trading here. I boosted my deposit a bit but now I took a break, as I want to rework my trading strategy and get back to trading.it seems to me that it's the right solution when you stuck. 

Vakpati N.
India Oct 30 2022
Account Number: (512201203xxx)

I didn’t read many Hycm reviews, but I think this one hit the nail on the head and mentioned all the broker’s features in detail.
Hycm has almost no restrictions when it comes to trading activity. I’m speaking about the variety of trading accounts, platforms or instruments that every client is able to choose and apply in his trading practice.
The broker allows scalping as a form of trading also. This type of trading is allowed only by the top-tier brokers, as far as I’m concerned. Broker’s Raw account fits perfectly for this trading style. It offers the tightest spreads possible with rather low commissions. At least it’s the lowest commissions I’ve met in the market.
Generally speaking you want your broker to look like Hycm - reliable and competent.

Robinson
United KingdomDec 16 2022

Vakpati N.: Agreed on all of the items that you pointed out. I usually assess the broker by two features. Scalping and algo trading. If a broker allows these two types of trading, then it deserves attention.Hycm ticks all two of those boxes by the way.

J.Pascual
Spain Oct 29 2022
Account Number: (541200125663xxx)

if you are fond of scalping, then Raw account is your choice, otherwise the broker doesn't allow this type of activity. it's obvious, scalping with fixed spreads is the worst idea :D

Timothy Horan
Ireland Oct 22 2022
Account Number: (5122253625xxx)

This broker is mostly positive. It’s licensed and has a good reputation, but there’s one nuance that can spoil a good impression. Two of its three branches provide small leverage for currencies. Get ready for this.