HYCM Broker Reviews and Full Information

What is HYCM Broker?

HYCM is member of Henyep Group. It was founded in 1977. The trading service provider has expanded its services to several countries it claims that they are totally transparent with its activities. It is highly regulated by various regulators, such as the Financial Conduct Authority (FCA) in the UK, Cyprus Securities and Exchange Commission (CySec) in Europe, Caymans Island Monitory Authority (CIMA) and Dubai Financial Services Authority (DFSA) located in Dubai.

It has been a component of the world of trading for more than 40 years. it has a seamless trading experience and an excellent customer support in 14 languages. In addition, the company offers the renowned MetaTrader platforms as well as a variety of options to trade with.

 

Pros

Cons

Regulated by various authorities

24/7 support is not available.

MetaTrader platforms available.

 

Forty years experience.

 



 

 

10 Points Summary

Headquarters

London, UK

Regulation

FSC, DFSA, CySec, FCA, CIMA

Platforms

MT4, MT5

Instruments

Forex, indices, metals, commodities, stocks.

EUR/USD Spread

1.2 pip

Demo Account

Yes

Minimum deposit

100$

Base currencies

Multiple currencies supported.

Education

Yes

Customer Support

24/7

How Secure Are You With HYCM?

Are you awestruck by the world of trading you? If so, then I'm sure you'll be looking for the right broker to get you started. So, the issue is, do you know the primary aspect that your broker should provide? The answer for this question is"protection," then you're on the right track.

HYCM affirms to be completely transparent in its operations and is regulated by a variety of regulators with strict rules. It has maintained an outstanding track record over the last 40 years and has managed to satisfy its clients with the products it offers. So, HYCM offers the highest level of protection for investors and makes a reliable option.

 

Pros

Cons

Regulated by different regulators

None.

Reputable name in the marketplace.

 

 

 


 

Awards:

The award is awarded to recognize the high quality of services that a company provides. There is a chance that the reviewer might be untrue, but nobody would ever doubt the validity of the award. HYCM has been awarded several awards including:

Best Global Broker 2012

Best Mobile Trading Platform 2017

Best FX Mini Account Provider 2012

Best Forex Broker 2021

These are just a few among the numerous awards awarded by HYCM.

Is HYCM an enigma or a secure?

The idea of being scammed is terrifying. Isn't it?

You've probably heard a few reports over the past year of the way someone was scammed online. Did you realize that you have a significant role in getting scammed? The question is, how? It's because you didn't conduct enough research on the broker.

HYCM is controlled through FCA, CIMA, DFSA and CySec This ensures that the broker operates under strict rules and may be penalized if they violate any law. The company has earned a respectable reputation over the past 40 years that is a testimony to its credibility.

Overall, HYCM is not a fraud at all and is able to be considered a reliable source.

Account:

HYCM provides four types of accounts that include Classic, Fixed Raw, Fixed and VIP accounts. The company has been generous enough to provide a demo account as well as an Islamic account for Muslim traders.

Fixed account: This type accounts requires an initial investment of $100. The trading is free of commissions and comes with an unassailable spread of 1.8 pip. The minimum volume of trade is 0.01 and the option to open an Islamic account is also available.

Classic Account: The classic account is quite similar with the traditional fixed-rate account, in terms of the minimum deposit amount as well as the amount of trades, except that the spreads offered are variable starting at 1.2 pip.

Raw account The minimum amount to deposit required for this kind of account is 200 that's a bit higher than the traditional fixed account. The minimum volume of trade can be set to 0.01 and a fee of $4 is imposed per round.

VIP ACCOUNT HYCM provides VIP accounts that give access to low spreads and market analysis as well as an additional account manager for experienced and professional traders.

Demo Account Demo accounts are the perfect way for new traders, as well as novices, to test their chances and put their skills to the test in a non-risky environment. It is a secure place to test their skills.

 

Pros

Cons

Demo account available.

Spreads differ based on the account type.

Islamic account available.

 

There are four types of accounts to choose from.

 


 

Trading Instruments:

It has a variety of trading instruments for its traders. The instruments include:

Cryptocurrencies

Commodities

Indices

Stocks

ETFs

Forex

 

Pros

Cons

A wide range of instruments for trading.

None.

Spreads that are variable on Forex.

 

 

 



 

 

 

Trading Platforms:

HYCM provides popular MetaTrader platforms, which are regarded as among the top in the world of trading. They provide a variety of options that offer a seamless trading experience and numerous technical options, including various economic calendars and analysis.

The platforms are accessible both on the desktop and as an app for mobile devices for Android or iOS.

 

Pros

Cons

MetaTrader platforms available.

None.

Over 300 different instruments.

 



 

 

 

Trading Fees:

The fee for trading varies based on the type of account. For instance, the raw account provides the lowest spread at 0.2pips and the fixed spread is 1.8 percent is available through Fixed account. In the same way, the commission is dependent on the type of account.

No fee for withdrawal or deposit is assessed.


 

Pros

Cons

No fee for deposits or withdrawals

The spread is based on the type of account.

The initial deposit is not very high.

 

 

 

 

 



 

 

 

Deposit & Withdrawal Options:

Deposits can be troublesome in the event that the options are limited. However, this isn't the situation with HYCM. It has a variety of choices for depositing money and makes the process simple. The choices are:

Bank Wire Transfer The minimum amount to be transferred through this technique is $200. It can take 3-7 working days.

Skrill/Neteller/Credit & Debit card/WebMoney: The minimum amount deposited by these methods is $20, and the process is instant.

All deposits are completely free.

A broker can provide less options for withdrawals making the process difficult. HYCM provides the same withdrawal options as deposits. All withdrawals are absolutely free and the process takes just a few minutes.

Education:

HYCM offers a variety of educational materials for traders. Everything is on their website, and is accessible access by anyone.

The educational resources consist of five distinct segments, including:

Tools for trading: This area encompasses a broad variety of subjects, including markets analysis, capital management and the basics of psychology in trading, as well as basic and sophisticated technical analysis.

Tutorials There are a variety of tutorials available on MetaTrader order typos, orders with different names and property.

Trading Strategies: Many videos are on the internet that provide comprehensive information on various strategies.

EBooks: The renowned broker also provides EBooks to users as an educational source.

Starter's Course The courses focus covering the fundamentals of forex, strategies and the glossary.

A detailed section is available about Forex, Indices, and Commodities.

Customer Support:

In order to make traders put their faith in you and continue working with you for the longest time possible an excellent customer service is essential. If a broker fails to meet the needs of customers and solve issues, traders may choose to switch to a different one.

With more than 40 years of expertise, HYCM knows the importance of providing support to customers. The team is available 24/7, 7 days a week to address any issues that might be encountered. It is simple to reach the team since numerous options are available including live chat, phone and email. In addition, to ensure traders with maximum comfort our customer service is accessible in multiple languages.

 

Pros

Cons

Multiple languages supported.

24/7 unavailable.

Numerous sources to reach the team.

 

 

 

 

Conclusion:

HYCM is a fantastic option for trading because it strives to provide a pleasant trading environment as well as a superb customer service. It has a wide range of trading instruments , and the most well-known trading platform.

In the end, HYCM can be your best companion when it comes to trading. Get started now!

Frequently Asked Questions (FAQs)

Is HYCM Regulated?

It is true that HYCM can be regulated through FCA, DFSA, CIMA and CySec.

What is the minimum amount to deposit?

The minimum deposit that is needed is 100$.

Do you have the option of an account demo?

Yes you can, and a demo account is provided by HYCM

Are there any fees for withdrawals or deposits?

Yes, all withdrawals and deposits are completely free.

What is the platform HYCM provide?

HYCM provides the well-known MT4 along with MT5 platforms.

Summary
Properties Values
Name
HYCM
Minimum Diposit
$ 100$
Leverage
500:1
Regulation
CIMA (Cayman Islands),CySEC (Cyprus),DFSA (Denmark),SFC (Hong Kong),CIPO (VC) (Saint Vincent and the Grenadines),FCA (United Kingdom),,
Headquarters
United Kingdom
Established
1977
Address
18 King William Street London, EC4N 7BP, United Kingdom
Platform
MT4,MT5,,
Payment Method
Visa,Mastercard,Wire,Skrill,Neteller,,
Overview
Properties Values
Spreads
1.2 pip
Min Position size
0.01
Broker Type
MM ( Market Maker),STP (Straight Through Processing),NDD (Non Dealing Desk),Instant Execution,,,,,
Account Type
RAW Spread,Scalping,Standard,,
Brokers by Country
UK Forex Brokers,Cyprus Forex Brokers,,
Techniques
Scalping Forex Brokers,Hedging Forex Brokers,Automated Trading Brokers,Mobile Trading Brokers,,
Instruments
Gold Trading Brokers,Stock Trading Broke,Commodity Forex Brokers,Metal Trading Brokers,Indexes Trading Brokers,,
Account currency
,USD,,USD,,USD,,USD,,USD,,USD,,USD,,USD,,USD,,USD,
Tools
Economic Calendar,Charting Software,Calculators,Pip Calculator,Margin Calculator,Profit Calculator,,,,,,,
Website Languages
en,,
Support languages
en,,
Bonus
Yes
Reviews Rating
3.8
Withdrawal Fee
No
Trading Signals
Yes
Free Education
Yes
Daily News
Yes
Demo account
Yes
Swapsr
Yes
Pors
1. Regulated by different regulators
2. Reputable name in the marketplace.
Cors
1. None
Display Analysis
Yes
Serving country
KY,CY,HK,KW,AE,,
Not Serving country
AF,BS,BE,BW,KH,FR,GH,HK,IS,IQ,JP,KR,LA,MN,PA,SD,SY,TT,TR,US,VU,YE,ZW,,
Contests
Yes
Market analysis
Yes
Copy Trading Brokers
No
Bitcoin Forex Brokers
No
Social trading
Yes
Web trading
Yes
Forex pairs
No
CFDs
Yes
Crypto
No
Hedging
Yes
PAMM
PAMM,MAMM,Myfxbook Auto trade,Mql5 signals,,
Mobile Trading
Yes
Scalping
Yes
Automated Trading
Yes
Partnership Programs
Yes
Free Phone
+357-25-24-5751
Customer Support
24/7
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