HYCM is a well-established broker that offers more than 300 trading instruments. Traders can experience spreads from as low as 0.2 pips.
- Has responsive live support.
- Negative balance protection.
- Excellent educational content.
- More than 40 forex pairs available.
- Offers only forex and CFD trading.
- Inactivity charges kicks in after three months of no activity.
HYCM is a part of the HYCM group that has been in the financial markets for more than 40 years. This long heritage has enabled service offerings to more than 140 countries, delivering a first-class trading experience.
Traders will find more than 40 forex pairs at HYCM. Other products for trade include stocks, indices, cryptocurrencies, commodities, and ETFs. In addition, it is a trusted broker and more than 10,000 regular traders making use of the HYCM platform.
Our experts have tried out the 300+ instruments available at HYCM, and here is a quick look at what they have found out.
HYCM – Who Are They?
With over 44 years of experience in financial markets, HYCM has grown to be a popular and trusted forex and CFD broker globally. This platform has five offices in the world’s leading financial centres and offers services in more than 140 countries.
There are three types of trading accounts at HYCM. The no-commission Fixed Account features fixed spreads from 1.8 pips. The no-commission Classic Account with variable spreads from 1.2 pips. Then the Raw Account with the lowest raw spreads from 0.2 pips and a commission charge of at least $4 per round.
Traders can improve their skills through education tools available, including forex education videos, webinars, and seminars. The support team is also available 24/5 through phone, email, and live chat to answer traders’ queries.
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Commissions and Fees
| Type | Fee |
|---|---|
| Minimum deposit | $100 |
| Deposit fee | $0 |
| Withdrawal fee | $0 |
| Inactivity fee | $10 each month |
| Overnight fee | Yes |
Account Type Comparison
| Type | Fixed | Classic | RAW |
|---|---|---|---|
| Spreads from | 1.5 pips | 1.2 pips | 0.1 pips |
| Commission | No | No | + $4 per round |
| Minimum deposit | $100 | $100 | $200 |
| EA available | No | Yes | Yes |
| Min. Trade Volume | 0.01 | 0.01 | 0.01 |
Our Opinion About HYCM
Experiencing the HYCM site was quick, as there are only two trading platforms to try out. These are MetaTrader 4 and Meta Trader 5.
The Virtual Portfolio, also known as the Demo Account, is loaded with $50,000 in virtual cash. This account is available for 14 days, and then it is necessary to upgrade to a real account with a $100 minimum deposit.
To meet the needs of different traders, there are several transaction options available. They include bank wire and transfers, debit and credit cards, and eWallets.
FAQs
Yes. HYCM is a reputable broker that has been operating since 1977. It offers a range of trading instruments to explore, multiple trading platforms, and reliable support service. Most importantly, the HYCM has gained excellent testimonials and ratings from users on Trustpilot, Google Play, and the App Store.
Yes. HYCM is licensed and regulated by the best authorities in the market, including the FCA and CySEC. This proves that it can be trusted as it offers the best trading conditions and secures users’ funds in a segregated account.
The minimum deposit requirement for HYCM is £100. Users can make deposits using multiple payment methods, including credit/debit cards, e-wallets, and bank transfers. Keep in mind that the broker doesn’t charge fees for deposits and withdrawals.
HYCM is owned by the Henyep Capital Markets Group, a global conglomerate that operates in the financial services, education, property, and charity sectors. The group has been in business since 1977 and has offices in major financial centres worldwide.
Yes. HYCM is a legitimate broker that has been in business for over 44 years. The broker adheres to the strict financial authorities’ regulatory standards to protect client funds and ensure fair trading practices. It also hosts superior platforms and uses advanced technology to provide users with an exciting experience.
HYCM Review 2024 Details
✔ Great educational content
There were a few reasons for me to choose this particular broker to trade with. It was quite easy because I was looking for a tier-1 broker. HYCM was just like that. The initial deposit is only $100, so I can start trading with small funds.
I watch HYCM webinars daily, thank you for posting 🙂
Personally I’ve been using HYCM for a little while now and found them to be reliable and trustworthy
withdrawals have always been timely and the spreads offered on their assets are very reasonable
The broker is good, normal medium level. The pluses - MT4 and MT5 terminal, a good choice of instruments. There are no serious drawbacks as such. But I opened an account under the influence of the reviews, which told me about the quality of performance. I have been trading for 2 full months now, there is no spread widening on news and overnights, no slippage, all these charms of trader's life are not observed here. I don’t have any problem with opening and closing, but I`ve read reviews on HYCM that says that execution is almost incomparable, in general I`m not as impressed as I expected. Also a definite plus is the large leverage.
I’d be honest with you, I don’t really care about assets for trading or trading platforms. All I need is hycm fast and free withdrawals. Yeah, I came here for money?, and I need to get it asap when I make a request. And what can I say, hycm delivers?.
HYCM gives me fantastic trading conditions with great liquidity and low spreads. A better deal than most brokers offer. With excellent liquidity and good leverage, I am able to be more successful in the market.
I have been trading with HYCM for almost 2 years and I have stable profits. This company is trustworthy and responsible. I like their educational content - it is really useful.
It may sound strange but I really like the Fixed account of Hycm. The thing is that I don’t scalp or trade intraday or something like that. I just don’t have time for it.
All I can do is to analyze properly and place a position to hold it for weeks or months even. And for this purpose Hycm Fixed account is perfect.
Plus it goes without saying Hycm is a very reliable company in the first place.
I chose this broker primarily because o opportunity to use algorithmic trading. I am passionate about it whilst I realize it brings tons of risks above those I had to take on myself.
I am fond of trading on MT4 platform and expert advisors help me to develop skills. I have no idea about other platforms, but I do know how to install them on MT4, just download in case you know proper source, or create it on your own, and put in the folder with platform.
There is no possibility to use several EAs on one chart, but the platform allows to use hundreds of them in one terminal. If you are interested in it, I warned you.
This broker belongs to the category of companies that deserve my trust. Before I opened an account with a broker, I checked it for a regulator. I liked what I found (CySEC, FCA, CIMA), and I opened an account with fixed spreads. There is an affordable minimal deposit here. Every trader can start from 100$ only. I think they are very good.
Educational content of Hycm is one of the best, if not the best, I have run across at forex brokers.
And as we all know education is a cornerstone of success in trading. If you don’t accept this simple fact, then I reckon it will be very hard, almost impossible to achieve something here.
I am fully satisfied with the conditions HYCM provides. They have a great intuitive platform, I think. They have very competitive spreads. My recommendation from the heart.
This is the most convenient broker for me as I am fond of trading using expert advisors. On top of that, I'd wish to try copy trading, but I ain't sure there is such a possibility.
MT4 trading platform is the most favorable for me as it ensures me all modern technologies in the trading world. Using EAs, customizable charts, multiple charts depiction, tons of instruments for analysis - commendable!
As for account types, then I also cherish here a complete absence of commissions on Classic.
The set of financial instruments available to me is amazing! I can trade almost any existing asset. And the trading conditions are great!
HYCM Lab seems to be an endemic feature of company that managed to create an entire learning academy, where you can read some interesting articles on common themes, and specific ones like analysis. This thing seems to be irreplaceable for me these days, as a daytrader I adore reading various analysis from experienced people.
The company wisely approached to the creation of this service.
You don't need much of anything else when you have an account here. Especially if you are focusing more on high liquidity high quality assets, HYCM can be the ideal spot for ya.
This article's author wrote that acquaintance with the broker was quick because the broker has two trading platforms. They are MetaTrader4 and MetaTrader5.
In my opinion, it means not only that a professional trader can quickly start trading on the broker's platform. But a beginner can also quickly cope with this task.
That's the advantage of MetaTrader trading platforms. They have been used by brokers for many years. This means that many traders know how to use them. There are a lot of tutorials on how to use these platforms on the Internet. In addition, you can find custom indicators and Expert Advisors.
Do you think using these platforms is an advantage or disadvantage?
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal