HYCM Review


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 Cayman Islands Monetary Authority 1442313, CySEC 259/14, DFSA (Dubai) 000048, FCA (UK) 186171 and FSA (St. Vincent & Grenadines) 25228.


Company Information

Website
www.hycm.com

Established
1977

Country
Hong Kong, United Arab Emirates and United Kingdom

Regulation
Cayman Islands Monetary Authority, 1442313
CySEC 259/14
DFSA (Dubai), 000048
FCA (UK), 186171
FSA (St. Vincent & the Grenadines), 25228

Features

Islamic accounts available

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

If you want to look for a more simple explanation regarding this broker's account type(s), take a loot at the following chart:


Minimum Deposit

$100

Maximum Leverage

1:325

Spread

Fixed

Commission

$4


Minimum Deposit $100

Minimum Position 0.01 lot

Spread Fixed

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

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
1:325

Indexes
1:89

Metals
1:205

Energies
1:226

Cryptocurrencies
1:20


Minimum Deposit $100

Minimum Position 0.1 lot

Spread Fixed

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

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
1:325

Indexes
1:89

Metals
1:205

Energies
1:226

Cryptocurrencies
1:20


Minimum Deposit $200

Minimum Position 0.1 lot

Spread Fixed

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-Cancels-Other (OCO) orders

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
1:100

Cryptocurrencies
1:20

Payment Methods

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.

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.

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.

HYCM also provides payment with 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 , Stocks , Indexes , Soft commodities , Metals , Energies and Cryptocurrencies . As for the payment methods, you can choose between Credit/debit cards, Neteller, 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 Cayman Islands Monetary Authority 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.


Give Your Review and Rate This Broker



11 Reviews


Baigy

Aug 10 2020

Tried placing a position on MT5 and the order takes long to process and sometime it keep asking for re quote. Spread are bit too much for buying positions. This is just the demo I wonder how many problems I’ll have with real account. It’s very important to have good server otherwise it’s useless to trade.

Berk Samanci

Aug 8 2020

I trade with HYCM long enough to have a full opinion. Broker has good regulation, good spreads and excellent reputation. My experience confirms that all this is not for nothing and the broker is really good, so I can recommend it.

Ranjani

Aug 8 2020

The broker works on mistakes. I talked to one of the managers and I didn't like the way of the conversation, as I felt that the manager was NOT interested in me starting to trade with my $500. In other words, the manager was speaking to me in a passive way.
I understand that this broker has traders with large deposits and my deposit is not very important for it, but I don't expected such attitude. Btw I requested a withdrawal and received it in four hours.

Fadil

Aug 6 2020

terrible , they play with spread and widen it in unfair way , specially if they see you wining. i dont recommend dealing with

Barta Dabukke

Aug 5 2020

Personally, I liked HYCM right away. It certainly doesn't mean that I started trusting it immediately and instantly opened an account here. At first I checked the brokerage, the reviews on the web about it were more positive than negative or neutral. Then I looked at the broker's trading conditions. And these conditions with positive reviews convinced me that it is worth trying what my trading with HYCM will be like. In general, I'm satisfied and will continue to trade with this brokerage, as it didn't give me reason to doubt it.

Pintar Tangier

Aug 2 2020

This broker is all about respect and everything is designed in the way, when you respect the brokerage and feel that it respects you as well. Of course, spreads aren't the lowest that you can find, but it compensates with stable multiple-regulations, more than 40 years history and a lot of awards. Maybe some traders don't like awards, but for me this is not just trinkets, but the sign of broker's reliability.

Prinsloo

Aug 1 2020

I trade in the mood for pleasure, sometimes it turns out to be a plus, sometimes it turns out to be a minus. This broker was chosen at random. A few years ago. When I go out on the plus side, I sometimes withdraw money in small amounts, I do not earn large sums here, but as well I have never experienced problems with withdrawals.

Giulio Damiani

Jul 31 2020

For a broker it's just a way to attract additional clients and for the company it costs practically nothing.
Yes, I agree that trading with a broker is good, but I feel that a broker is designed for people with a rich wallet, I feel uncomfortable here. I can't even explain the reason, but that's my opinion.

Lam AW

Jul 30 2020

I trade it for 3 years and can get positive feedback only - mininimum deposit starts at 100 dollars. brokerage is 100% regulated, no slippages, lags or occasions, withdrawals take 2-3 days, never more.

Kazibwe

Jul 29 2020

The conditions of this company are really good for me.
There are no problems with withdrawal of funds, I have tried different payment systems.

Tony Coleman

Jul 22 2020

HYCM is one of the reliable forex brokers. I have been trading at HYCM this year and there are no problems. Quick execution, tight spreads, withdrawals around 6 days, not bad for me. From the several brokers I have used, the HYCM platform is the most simple one. Although sometimes it went wrong, it doesn't matter either hahahaa...