HYCM Commission or Brokerage Charges – Review, Plans, FAQs & more
Find out all details on HYCM Commission or Brokerage Charges here.
HYCM is one of the best brokerage firms out there. The platforms offered by HYCM are world-leading in the market.
HYCM has been popular for CFDs and Forex trading for the past four decades. The trading experience offered is smooth and seamless.
In this article, we’ll explore the commission charges associated with HYCM. In case you are looking to open an account with HYCM, this information will be useful.
You can account for all the expenditures you will be incurring while trading with them.
HYCM Commission or Brokerage Charges
There are various types of fees you need to pay for holding an account with HYCM. These include inactivity fees, withdrawal fees, the commission charged, etc.
There are no deposit charges for adding funds to your account.
The withdrawal fee is applicable only on withdrawals made through Neteller or Skrill. The fee is chargeable only when the withdrawal amount exceeds USD 5000.
There is also an inactivity fee of $10 a month for accounts that have been dormant for more than 90 days.
The commission charges depend on the type of account held by the user. There are three types of accounts one can choose from.
Spreads also vary with the account type and are competitive in the market starting from as low as 0.2 pips.
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Types of HYCM Commission Plans
|Types of Commission Plans|
HYCM brokerage charges depend on the type of plan you have chosen. There are three types of plans one can choose from – fixed account, classic account, or raw account.
Under the fixed account, users get fixed spreads of 1.8 pips on a deposit of at least $100. There are no commission charges for trading through this account.
The second type of account is the classic account. In this account, the spreads are floating starting from 1.2 pips on a minimum deposit of $100.
Again, there are no associated commission charges attached to this account. The third option is the Raw account.
Under this account, the spreads are significantly reduced starting from 0.2 pips. But this account carries a $4 commission fee per round turn.
The minimum amount of deposit is $200 for this account.
HYCM Account Opening Process
We have explored the various commission and fees charged by HYCM. In case you now wish to open a trading account with HYCM, follow these simple steps.
The entire account opening process is quick and seamless.
- Go to the official website of HYCM
- Click on the “Open An Account” option
- You will now have to fill in certain personal information. This includes your name, date of birth, address, and contact information.
- Now you will have to choose the trading platform (MT4 or MT5)
- Next, select the type of account you wish to open. We have covered the various charges associated with the different accounts. Choose one which fits your needs the most.
- Next, fill in some additional personal information and set your password.
- After completing registration you will need to complete your financial profile. This is necessary as it helps HYCM to determine if you are suitable for trading on the platform or not.
- You’ll now have to submit relevant documents for verifying your identity and address.
- After completing verification you are free to start using the platform. You can log in using the credentials generated during the registration process.
HYCM Payment or Withdrawal Methods
|Deposit Options||Credit Card, Cryptocurrencies, FasaPay, Moneybookers, Neteller, PayPal, Paytrust88, PerfectMoney, Skrill, Webmoney, Wire Transfer|
|Withdrawal Options||Credit Card, Cryptocurrencies, FasaPay, Moneybookers, Neteller, PayPal, Paytrust88, PerfectMoney, Skrill, Webmoney, Wire Transfer|
One of the most notable things about HYCM is the smooth trading experience they offer. The number of options they give makes trade execution quick and seamless.
The amount of payment and withdrawal methods make it easy to carry out transactions.
Using a variety of convenient payment options, clients can easily add and withdraw money at any time. There are no deposit charges so you can add funds without worrying about any extra costs.
Withdrawal charges are only applicable on withdrawals made through Skrill or Neteller. It is only charged when the amount exceeds $ 5000.
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HYCM Investment Assets
|Supported Cryptocoins||bitcoin, bitcoin-cash, bitcoin-gold, dash, ethereum, ethereum-classic, iota, litecoin, monero, neo, qtum, ripple, zcash|
|Total Tradable Assets||295|
|Number Of Currency Pairs||69|
|Number Of Cryptocurrencies||64|
|Number Of Stocks||149|
|Number Of Indices||35|
|Number Of Commodities||21|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
There are a lot of different types of assets you can invest in through HYCM. They cater to all types of traders. Assets vary across forex, CFDs, stock, ETFs, indices, commodities, and cryptocurrencies.
You can choose from 60+ currency pairs, 20+ commodities, and 30+ country indices. You can also invest in popular shares and crypto using their platform.
There are 295 tradable assets on the platform, which gives traders a lot of flexibility.
This wide range of products is one of the reasons HYCM is so popular among traders.
HYCM Commission – Conclusion
Commission charges are one of the most important considerations before choosing a platform.
We have covered all the relevant information about the various HYCM brokerage charges. You can use this information to decide if HYCM fees meet your expectations or not.
By now, you must be well aware of the various HYCM charges. You can now take appropriate investment decisions and optimize your returns.
Furthermore, we have mentioned details about the different types of accounts and assets. You can decide which type of account you want to open and start your trading journey with HYCM.
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HYCM Charges or Fees – FAQs
Here are the FAQs on HYCM Charges & Fees –
Does HYCM charge commission?
The commission charge depends on the type of account you have opted for. There are three types of accounts you can choose from- fixed, classic, and raw accounts.
There are no commission charges associated with the fixed and classic accounts. For the raw account, HYCM charges a $4 commission fee per round traded.
How much does HYCM charge as brokerage?
The spread depends on the type of account and the underlying financial asset held. There are no deposit and withdrawal charges, so a major part of the expenses is through spreads.
Since HYCM offers one of the most competitive spreads in the markets it has become a crowd favorite.
What is the Minimum Deposit required in HYCM?
The minimum amount of deposit depends on the type of account held by the user. It ranges from $100-$200.
The minimum amount is $100 for the fixed account and the classic account. Whereas it is $200 for the raw account.
There are no deposit charges so you can add funds and start trading without any extra costs.
How much leverage does HYCM provide?
The leverage depends on the location of the user and the type of asset traded. Different regions have different laws on leverage and so it’s offered accordingly.
In some places, users can define the leverage they want to trade with. The maximum leverage one can choose is 1:500.
How much is Spread at HYCM?
The spread depends on the underlying security and the type of account with the user. The spread is fixed at 1.8 pips for the fixed account.
For the classic account, the spread is floating starting from 1.2 pips. The raw account also has a floating spread starting from 0.2 pips.
What type of Commission Plans available in HYCM?
The commission and other charges vary with the type of account opted by the user. There are no commission charges for the fixed and classic accounts.
But, the raw account carries a $4 commission charge per round of trade. The spread also varies with the type of account and the underlying security.
Does HYCM provide Cryptocurrency for Investment?
Yes, one of the most notable features of HYCM is the wide range of payment options it offers. Users can choose from a variety of methods to add and withdraw funds whenever they want.
One of these options is through cryptocurrency. One can add funds through crypto and invest them through the platform.
Is HYCM a legit Forex Broker?
Yes, HYCM is a legit forex broker. It is one of the leading stockbrokers in the market with millions of users around the world.
It is an international platform regulated by many different authorities and laws. Thus it is a safe platform to invest money and make returns.
Can I invest in HYCM for $5?
HYCM requires a minimum deposit of $100 for the classic and fixed accounts. The amount is $200 for the raw account.
After adding the necessary funds, users can start trading. You can invest in any of the 295 different tradable assets according to your wish. You can buy or sell any quantities you want.
Are there any hidden charges available with HYCM?
No, there aren’t any hidden charges with HYCM. The platform prides itself on its transparency and user experience.
All the HYCM fees are disclosed to the users and are out in the open. You can go through the list of charges and make your decisions based on it.
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