HYCM Review – Online Platforms, Commission, Leverage, Account Types, Features & more
HYCM is a famous multi-regulated online broker that has been serving traders all across the world for a very long time.
At HYCM, you can trade a wide range of assets as the platform provides you access to multiple markets.
The brand is holding a strong track record of its success in CFDs and Forex Trading services. In this review, we’ll cover the major factors that draw people’s attention to use HYCM.
It would include- which things do this trading platform offers you? What are the most critical features you should consider in HYCM?
What types of tradable instruments do you get at HYCM? Are there any bonuses that this platform offers you?
We’ll try to go deep into this review of HYCM so you could grasp proper information about HYCM. Similarly, a well-informed decision could be derived.
About HYCM & Accepted Countries
HYCM has continued to reserve its position among the leaders in the world of trading since its foundation in 1977.
After all, this eminent trading platform allows you to trade an assortment of assets.
For instance- you can start trading in Forex, CryptoCurrency, Commodities, Stocks, Shares, CFDs, etc.
Being a London-based Broker, HYCM got its first license from UK regulatory bodies. The brand is also famous for its prompt execution and dedicated customer support services.
However, the personal account manager at this online trading platform is another attractive thing for most traders.
With massive liquidity pools, HYCM offers brilliant trading conditions to traders. HYCM online trading platform embraces advanced technologies.
|Founder / CEO||Stavros Lambouris|
|Regulations||CIMA, CySEC, FCA, SVGFSA|
Every feature meets the different demanding needs of the varying level traders. The brand has also earned 15+ global awards for its high-end trading services.
All these achievements have helped HYCM to bring its attractive image to light. Owing to this, today, HYCM is catering to clients from 140+ countries.
That’s why HYCM turn out to be a reliable and effective place to start trading.
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HYCM Trading Platforms
HYCM offers its clients the option to trade varying assets with the top-notch trading platform- the Meta Trader 4 (MT4) or Meta Trader 5 (MT5).
|Trading Platform||MT4, MT5|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Arabic, English, Spanish|
Similarly, traders can also use Meta Trader Mobile Application about which we’ll discuss below.
Meta Trader 4
Under Meta Trader 4 platform, you get a user-friendly interface, making it the best choice for all level traders.
Even though you’re a new or an expert trader, this platform is easy to use on the first move.
The built-in indicators and pleasing templates take your technical analysis experience to another level.
As per your convenience, you can also create your own templates and trading systems. If you choose the MT 4 trading platform, you get access to 100 tradable instruments.
Meta Trader 5
At HYCM, you can trade using Meta Trader 5 platform too. Though, the MT5 platform is somewhat similar to the MT 4 platform. But, under MT 5, you get access to additional features also.
In particular, you get an economic calendar, additional time frames, and more technical analysis indicators.
However, the range of tradable assets you get alongside the Meta Trader 4 platform is three times more of the MT4 trading platform.
All these traits shed light on the MT5 trading platform capabilities that force clients to choose MT5 rather than MT 4 trading platform.
But it doesn’t mean that one platform is way better than the other one. Both have their own underlying benefits.
That’s why, as a trader, it’s up to you which trading platform you find most suitable for you.
HYCM Mobile App
After the web-based trading platform, now it’s time to take a quick overview of the HYCM trading app.
Well, it’s a Meta Trader app and free to download for both Android and iOS devices without exceptions. The app is accessible for both tablets too.
Suppose you want to trade on the go as time is a precious segment for you. This mobile app is undoubtedly a thing you must have on your phone right away.
You can easily place and manage orders through a single interface. Still, most of the core features of the HYCM you can better find on the web-based platform.
But if we talk about the rest of the features, so you get everything inside for a quick trading experience.
Check out Mobile Apps of more Forex Brokers
HYCM Commission or Brokerage
There’s a significant fee associated with every step once you proceed with your trading journey at any online trading platform.
But don’t worry, the HYCM trading platform’s fee structure falls into its plus points because it’s comparatively low.
Sometimes, the platform charges nothing from you on withdrawals and deposits. But for a long time, if you go inactive, you are likely to invite a high inactivity fee, which is a major negative side.
However, the trading fees of HYCM also depend upon the account type you choose. HYCM usually charges low trading fees on CFDs as well as Forex.
Still, the varying asset classes decide how many charges you’ll invite after trading.
|Commission on trades||Yes|
HYCM Exposure or Leverage
For most clients, especially those who come from the UK and EU, HYCM can be a slightly unfavorable option. They can’t modify the leverage level as per their choice.
They’ll have to accept the fixed leverage 1:2. If they are opting for US stock indices on significant forex pairs, the leverage is 1:30, respectively.
However, changing leverage is one of the critical features that mostly trading platform provides. It trims down the chances of risk linked with trade.
People from the rest of the regions can modify the leverage, which is the best thing.
|Maximum Leverage||1:30 (UK & Europe), 1:500 (Global)|
Payment Methods provided by HYCM
The most notable thing about HYCM that has satisfied us a lot lies in its prompt execution. From features to payment processors, you’ll observe instant action at every step.
|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|
From a variety of convenient and quick payment methods, clients can fund their accounts and withdraw the money whenever they want.
Still, it’ll be much better if you choose the Neteller and Skrill payment option for the ‘instant processing of payments.’
However, across certain payment methods, you might have to pay a certain fee. Similarly, if you often prefer direct bank transfer, you may have to wait for a few days to clear the payment.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by HYCM
HYCM asset classes offering focuses mainly on Forex, CFDs, Indices, Commodities, Cryptocurrencies, Stock, and ETFs.
Clients can trade across 60+ currency pairs, 30+ country indices, ten commodities, and purchase popular shares using this one of the most popular trading channels.
HYCM provides you with quite an extensive range of options to trade, making it stand out from the crowd.
Other trading platforms often provide limited options, but HYCM doesn’t, which is a good thing.
|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|
HYCM Virtual Trading Account or Demo Account
Sadly, there’s no demo account for the unregistered users in HYCM, which makes trading through this trading platform fairly disappointing.
Especially if you’re a new trader, it might not be the right option for you. If you want to experience a demo account, you’ll have to submit a minimum deposit amount in your account.
Still, if the rest of the features capture your attention, you can open a demo account by becoming an HYCM client.
However, the entire demo account is a complete copy of the live trading account and comes with the same functions.
Being a registered user, you also get virtual money of $50,000 in your demo account so that you can practice trading for a long time.
Though, for serious traders, HYCM is the best option because users can use the demo account for an unlimited time period. You don’t get this option at other trading channels.
|Virtual Money||$ 50000|
HYCM offers or Deals
HYCM adheres to the top-tier regulatory bodies’ rules and regulations, so the platform currently doesn’t offer you attractive deals and offers.
Still, the HYCM offers you a few advantages of using its platform, such as a 10% credit reward if you deposit over $100.
Similarly, you can earn a $200 cash reward on referring, but terms and conditions are applied.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||No|
|Flexible Brokerage Plans||No|
|Forex Trading Contest||Yes|
|Trading Bonuses & Rewards||Yes|
HYCM Regulation or Licensing
HYCM is a licensed online broker and regulated by top-tier authorities, making HYCM a reliable platform for users.
For instance- HYCM is regulated by the FCA ( Financial Conduct Authority) in the UK, CySEC (Cyprus Securities and Exchange Commission).
Similarly, in Europe, it’s controlled by the EMIR (European Market Infrastructure Regulation).
In Dubai, most of its services run under DFSA ( Dubai Financial Services Authority) supervision.
Apart from these top-tier authorities, HYCM complies with numerous financial rules and regulations. That’s why, over time, it has evolved into the most reliable channel for traders.
|Regulations||CIMA, CySEC, FCA, SVGFSA|
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
|FP Markets||FXPro||IG Group||Libertex|
There’re plenty of trading features that HYCM provides you. You can choose from a range of tools and features to get into the trading environment and start the market analysis.
For instance- you get a trading calculator, in which you can calculate pip, currency, and margin, which helps you a lot while planning and managing.
Similarly, you get an economic calendar alongside, market outlook for an in-depth insight into the market. You can also take a glimpse of the market through the latest news and blogs.
HYCM also provides its users access to powerful tools, including Risk Management, Indicators Lab and Alpha generation, etc.
Even though you’re a new user, HYCM has kept something special for you. Through free educational material, the platform looks after its new traders and helps them to stand out.
With the help of trading guides, including video tutorials, articles, e-books, and courses, the platform strives to provide you with full-fledged trading learning.
However, Webinars and Seminars are some additional elements that you’ll better know about after becoming a registered member of HYCM.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
HYCM Account Types
There’re mainly four types of trading accounts that suit the level of the trader’s needs. Let’s have a look-
Fixed Spread Account
Under this account, a user will get fixed spreads of 1.8 pips on a deposit of at least $100.
The spreads rate goes slightly down in classic accounts and starts from 1.2 pips on a minimum deposit of $100.
Raw Spread Account
You’ll have to deposit at least $200 to open a raw spread account, and spreads are significantly reduced, starts from 0.2 pips. But on a per round turn, you pay a $4 commission fee.
Obviously, it’s not a thing for a novice, but those investors who trade larger volumes can go with the VIP account.
This account offers full support to its clients, from comprehensive market research, lowest spreads to a dedicated account manager. You get lots of benefits from this VIP account.
HYCM Account Opening Process
Open a Live Trading Account in HYCM using these simple steps –
- Go to the official website of HYCM
- Click on the Open Account Option
- Provide the system asked for details
- Select the trading platform (MT4 or MT 5)
- Fill in additional personal data for verification
- Verify your account using the ID and Residency Proof
- Start trading by choosing your payment method
HYCM Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||Dealing Desk, Market Maker|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
Alpari – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team:
|Daily Market Commentary||Yes|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
- User-friendly account opening
- Low forex and CFD fees
- Great educational content
- Fast and Fully digital Deposit
- Low Minimum Deposit
- Free withdrawal
- No deposit fee
- Fixed Leverage of EU and UK users
- Only forex and CFD products
- Inactivity fee
- Outdated design Trading platforms
- No two-step (safer) login
HYCM Trading Hours
However, there are no specific trading hours provided by HYCM. The original market timing decides the actual trading hours in most cases.
Few markets remain 24×7 open whereas, in few regions, they are closed. Hence, more than HYCM trading hours, you should focus more on the original market time-frames.
Though, the doors of the HYCM trading platform remain all-time open for its clients. Hence, you can obtain more help from the HYCM official website.
HYCM Customer Care or Contact Details
If you are facing any issue meanwhile your trading journey with HYCM, feel free to contact using the following contact modes-
- Live chat
Find it on their official website. But make sure that the company doesn’t provide 24×7 customer services: contact timing is 5 AM GMT to 6 PM GMT.
On weekends, you don’t get any customer support.
|Support During Weekends||No|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Chinese, Czech, English, Farsi, French, German, Italian, Polish, Russian, Spanish, Swedish, Vietnamese|
HYCM Safety & Security
As said, HYCM is a licensed broker and regulated by multiple financial authorities, which assures clients about its safety.
Though, HYCM is a licensed broker by UK’s top-tier authorities FCA since 1998. It has a strong track record, as to date, its regulatory bodies have never faced any issue with it.
Hence, it’s the safest platform to start trading with.
HYCM Rating & Reviews
Based on different users and their experiences below are the company rating and reviews:
|User Experience||7.5 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||8.2 / 10|
|Trading Platforms||8.1 / 10|
|Overall Ratings||8.0/ 10|
|Total Client Reviews||67|
HYCM Trading – Conclusion
Now, you’ve obtained a full-fledged insight into HYCM. The platform works under top-tier financial authorities.
Worldwide, the platform has built a reputed image in the trading industry. HYCM also has earned several awards during its lifespan that signify its status and reliability.
However, this option might not be that charming for new traders. Still, if you’re a serious one, HYCM can be the best mode for you to start trading with.
It’s a safe online broker and provides its users access to some mind-blowing educational materials and strategic tools.
Altogether, a trader feels fully satisfied after using HYCM online trading platform.
Open a Forex Trading Account Now! – Fill up the Form
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