HYCM Broker review
- Low minimum deposit plus zero commission
- Excellent for beginners
- Suitable for all types of traders
- High Leverage*
Losses can exceed deposit
No of Users
20,000+
Min. Deposit
1
Regulation
Cysec,FCA
Max Leverage
500:1
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
0.9
1.6
1.1
2
1.1
Spreads
-
EUR/USD : 0.9
-
GBP/USD : 1.6
-
USD/JPY: 1.1
-
USD/CAD : 2
-
AUD/USD : 1.1
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
Introduction to HYCM Markets
HYCM CAPITAL MARKETS is a CFD broker that was established in 1977. It has over 40 years of cumulative experience in the financial industry. The HYCM broker offers trading in a wide range of financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. HYCM headquarters is based in London, United Kingdom. As well as the headquarters in London, they have offices in Cyprus, Dubai, Kuwait, Hong Kong, and the Cayman Islands.
HYCM CAPITAL MARKETS is licensed and regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). HYCM has been licensed with UK’s FCA for over 20 years. The FCA license number of HYCM CAPITAL MARKETS is 760973 while its CySEC license number is 259/14. HYCM CAPITAL MARKETS has active clients from more than 140 countries around the world.
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spreads & Fees
A ‘Spread’ or otherwise known as ‘Bid/Ask Spread’ is the measured difference between the buy and sell price quoted for any trading instrument: whether it be a Forex currency pair or metals. It can be interpreted as the cost of trading charged by the broker to traders.
HYCM, along with the majority of brokers, charge a spread to their clients, which is why most traders choose a broker with low spreads. Spread is reported in PIPs or known as basis points. Spreads can be calculated by spread value in pips × traded lot size.
The graphical illustration shows the comparison of how HYCM spreads stack against the combined average spreads of all other established brokers featured on ekzaga.
HYCM spreads are very competitive compared to other brokers. HYCM offers raw spreads starting from 0.1 pips with no hidden commissions or fees. HYCM also offers variable spreads starting from 1.2 pips. HYCM’s fixed spreads are also very competitive starting from 1.5 pips for major currency pairs. HYCM’s all-inclusive pricing is very transparent with no hidden commissions or fees. This makes HYCM an ideal choice for both new and experienced traders who are looking for a reliable and cost-effective broker.
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spread vs Trader
- Scalping
- Intraday Trading- <10 Trades
- Intraday Trading- 10+ Trades
- Swing Trading
- Long Term Trading
Trading Platforms
HYCM offers a variety of different trading platforms to suit the needs of its clients. HYCM MetaTrader 4 is a popular choice among traders, as it is easy to use and provides a wide range of features. HYCM Metatrader 5 is another option that is available, and this platform is also easy to use and provides a variety of features. HYCM also offers mobile trading apps for both Android and iOS devices, which allow traders to access their accounts from anywhere. The web trading platform on HYCM is also very user-friendly and provides all the features that traders need to be successful. Charting tools that HYCM has with various indicators and drawing tools are also very user-friendly and provide all the features that traders need to be successful.
HYCM offers a variety of different trading platforms to suit the needs of its clients. Whether you’re an experienced trader or just starting out, HYCM has a trading platform that’s right for you.
Platforms Offered
- WebTrader
- MetaTrader 4
- MetaTrader 5
- Android App & Tablets
- cTrader
- Apple App & Tablets
Accounts Types
HYCM offers online trading accounts to suit the different needs of its clients. The main types of accounts are the fixed account, the classic account, and the raw account. All of these accounts are offered in Islamic accounts. The Islamic account is a specialized account that conforms to Sharia law. It has all the features of a standard account but does not charge interest on overnight positions. All three types of accounts offered by HYCM have the same minimum deposit requirement of $100, making it accessible to everyone. Whichever type of account you choose, HYCM offers a free demo account so you can test out the trading platform before committing to real money trading.
Account Types Offered
Deposit & Withdrawal
Deposit Methods
Withdrawal Methods
Deposit Methods
- Visa Debit
- MasterCard
- Skrill
- Bank Transfer
- Visa Credit
- Neteller
- WebMoney
- Paypal
Unique Features
HYCM is a leading provider of online trading services. The company offers a comprehensive suite of products and services, including forex, CFDs, and stock trading. In addition to its many years of experience and award-winning platform, HYCM also offers a number of unique features that make it an attractive choice for investors. The company also offers a Tier 1 Client Fund, which provides traders with access to additional liquidity and protection against negative balances. Lastly, HYCM offers a comprehensive education centre that provides resources on everything from market analysis to trade execution. These weekly webinars give traders a breakdown of the upcoming FX week.
An understanding of market sentiment, preparing for key market moving events. Also, traders can benefit from live Q&A sessions. Also from these webinars traders can watch a professional trader in action explaining their decision-making process. Also, an added bonus is that their webinars are uploaded on their YouTube channel. These unique features make HYCM an ideal choice for online traders.
Customer Support
HYCM customer service is available 24/5 in 8 languages. Your account manager will deal with your complaints within 48 hours. HYCM takes customer complaints seriously and will work with you to resolve any issues you may have they offer live chat, phone, and email support. Their website is available in 14 languages. Its customer service team supports 10 languages.
They usually take 2-3 business days to respond to customer queries via email but aim to respond as quickly as possible. HYCM offers a wide range of communication channels and supports a large number of languages, making it one of the most accessible brokers in the industry. They are committed to providing excellent customer service and will do everything possible to ensure you have a positive experience.
Conclusion
HYCM on the whole tick all the major boxes for one who is looking to open a trading account with a broker. They are well regulated, with the client’s funds being placed in a segregated account. They offer both MetaTrader 4 and 5 as well as their very own mobile app which allows you to do everything from placing and closing a trade. Depositing and withdrawing funds. They have multiple different trading instruments should you be looking at trading other instruments apart from forex. They have multiple avenues for you to deposit and withdraw funds across many different base currencies. They are very well established having been in financial markets for over 40 years as well as winning multiple awards throughout the years. The education they offer is very good in comparison to other forex brokers.
They really are appealing to all types of traders from clients who are total newbies to more seasoned and experienced traders. The only downside for us is the minimum deposit is higher than its competitors although to their advantage it is the same $100 for all three of the different accounts they offer. In a nutshell, we highly recommend this broker they are extremely good.
