HYCM Trading Account – Review, Types, Process, Benefits, Charges & more
In this article, we’ll explore the HYCM Trading Account. We will look into their functionalities and what they offer to the users.
They have two categories of accounts – live trading accounts and demo accounts. One can choose among three types of live trading accounts or go for the demo account.
A demo account is a practice account that you can use to test out your strategies and ideas. If you are new to trading it can be quite a helpful way to learn about the markets.
It is completely risk-free and you don’t have to spend even a single penny to avail this account. You can invest virtual money in the markets and see how your trading decisions work out.
HYCM Trading Account and Benefits
There are a lot of benefits of going with HYCM for a trading account.
They give users a lot of perks and options to choose from.
There is not one but many types of accounts one can open with HYCM.
Each account has its distinct features and advantages.
You can choose one which fits your needs the most.
You can even select one based on your expertise and experience level. Whichever account you go with, you are going to get unique opportunities.
Choosing the right account will ensure that you make the most out of your trading journey. You’ll be able to use all the suitable tools and resources needed to succeed in the markets.
Fill up the Form – Open Forex Trading Account Now!
HYCM Trading Account Charges
|Trading Account Charges|
A crucial aspect of a trading account is the various charges associated with it.
It is important to keep these expenses in mind as they have a direct impact on the amount of profit you make.
In this section, we’ll explore the various charges and fees of HYCM.
Each type of account has a minimum required amount of deposit that you need to make.
There are no deposit or withdrawal charges so you can add and withdraw funds with ease.
There are also spread charges which vary with the type of account and the kind of securities you trade. The spread charges are competitive in the market and are very low, to begin with.
Commission charges also vary with the type of account you hold. They may not even be applicable for some types of accounts.
For more insights refer to all the different accounts and their respective charges.
Types of HYCM Trading Account
|Types of Trading Account|
|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|
Now we’ll look at the different kinds of accounts HYCM offers.
For the fixed account you get a fixed spread from 1.8 pips on a minimum deposit of $100. There are no commission charges associated with this account.
The minimum trade volume is only 0.01 lots, allowing micro trading. There’s also an option to convert this account into an Islamic account.
This type of account is suitable for all types of traders. Whether you are a novice or an expert it has tools and features for all.
The spreads for this account are variable starting from 1.2 pips on a minimum deposit of $100. For this account, there are no commission charges.
The Classic account also allows you to carry out micro trading.
It also gives you the option of converting the account into an Islamic account.
The account also gives you access to expert advisors who can help you in carrying out trades.
The spreads for this account are variable and start from as low as 0.2 pips.
The minimum deposit amount for this account is $200. Commission charges are applicable at $4 per round of trade.
You can carry out micro trades on this account with the minimum trade volume only being 0.01 lots
This account also gives the option of converting it into an Islamic account.
Also, users get access to expert advisors through this account.
HYCM Account Opening and Trading Process
The process to open an account and get started with trading is as seamless as it can get with HYCM.
In this section we’ll cover the entire process of opening an account, setting it up, and placing trades.
Open HYCM Trading Account
- Go on HYCM’s website and click on “Open An Account”
- Fill in the required personal details
- Next, complete your financial profile. It will help in assessing your suitability for the platform.
- Now, you will have to verify your identity by submitting all the necessary proofs.
- After uploading the required documents, HYCM will review your application.
- If the verification is successful, HYCM will open your trading account.
HYCM Login Process
- You can use the web platform of the broker to access the account. You can also use the application or the trading terminal by downloading them on your devices. Also, you can log in using the credentials generated during the registration process.
- You can use the web platform through any web browser. For the software or the application, you have to just download and run them.
Download and set up
- You can use the trading terminal by going on HYCM’s website and downloading it. There are two types of trading terminals available- MT4 and MT5.
- Now log in using your credentials.
- When you gain access, explore your account to understand the different functionalities.
- Now you can monitor the markets and figure out some trading strategies.
- After identifying a trade, you can place either a buy or a sell order.
HYCM Trading Account – Features
|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 offers many different features to its users. In this section, we’ll cover many of the features they offer.
They offer a wide range of educational content to users. One can use this material to learn about the markets and the platform.
Other features include trading signals, email alerts, and expert advisors.
They also offer OCO orders, trailing SP/TP, and automated trading. Furthermore, HYCM also allows hedging and one-click trading.
These are the features that all traders seek in a trading platform. That’s why it’s such an attractive platform for users all over the globe.
HYCM Trading Account – Conclusion
In this article, we have covered a lot of information about the trading accounts of HYCM.
Choosing the right trading account is a crucial part of your investment plan.
It can play a major role in helping you make trading decisions and make profits.
By now you must be familiar with the different types of trading accounts of HYCM.
You can decide whether it fits your needs or not.
Also, you can use all the information we have provided to decide which kind of account to go with.
So, now you can make the right decision and get started on your trading journey.
HYCM Online Trading – FAQs
Here are a few FAQs related to the HYCM online trading –
Does HYCM provide Online Trading?
Yes, HYCM does provide online trading.
You can invest via their live trading accounts or the demo account.
They offer many different types of accounts you can choose from.
Whether you are a beginner or an expert, each account offers unique opportunities.
Thus, HYCM is suitable for all kinds of traders.
What are the Commission Charges in HYCM?
The demo account is free of charge, but the live trading accounts have costs associated with them.
The spread charges vary with the type of account and the securities you trade.
The Fixed and the Classic accounts are zero commission accounts.
The raw account does have a $4 commission charge per round of trade.
Does HYCM provide Demo account Trading?
Yes, HYCM does offer users the option to use a demo account.
The account allows you to invest $50,000 virtual cash in the markets.
It’s completely risk-free and free to use.
It’s a good way to practice your strategies and see how your decisions would perform in the market.
Is Trading Free at HYCM?
It’s free to trade with the demo account.
But, there are different costs associated with the live trading accounts.
They include spread charges, commission charges, minimum deposit amount, and more.
These costs vary with the kind of account you hold and the type of securities you trade.
Does HYCM provide Spot Metals Trading?
Yes, HYCM does provide users with the option to carry out spot metals trading.
Some of the precious metals provided include gold, silver, palladium, platinum, and more.
You can go through the various metals available and come up with suitable strategies.
You can monitor the markets and place either buy or sell orders.
What are Spot Metals Trading Charges at HYCM?
The trading charges for spot metal trading are not fixed.
They vary with the type of account you hold.
The charges also depend on the kind of metal you want to trade.
One should check these charges before placing trades to make smart investment decisions.
Does HYCM provide Stock Trading?
Yes, HYCM does provide users with the option to invest in stocks.
They offer a wide range of products users can invest in.
These include instruments like stocks, indices, ETFs, Forex, Cryptocurrencies, and commodities
You can invest in them through a live trading account or the demo account.
What is Spread at HYCM?
The spread charges are not fixed at HYCM.
They vary with the type of account you hold and the kind of securities you trade.
For the fixed account the spread is fixed from 1.8 pips.
The classic account has variable spreads from 1.2 pips.
And, the spreads for the raw account start from as low as 0.2 pips.
Is HYCM safe for trading?
Yes, HYCM is a safe and reliable platform for trading.
It’s trusted by millions of people around the world.
They are one of the leading brokers in the market because of the transparency they offer to users.
It’s regulated by many authorities and laws and so the users are well protected.
Does HYCM provide Trading Tips?
Yes, HYCM does provide trading tips to users.
They publish proprietary research and news on the latest events.
They also have a wide range of educational content that you can go through.
Using these resources can help you out in learning about the markets.
They’ll also help you in making smart trading decisions and successful trades.
Fill up the Form – Open Forex Trading Account Now!
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