HYCM Guide – Read our In-Depth HYCM Review
This HYCM review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this HYCM review does not apply to US users.
If you're a new entrant in the world of trading and brokerage, so many details will be confusing for you. Getting into the area of trading demands expert assessing skills and thorough understanding. You'll acquire adept at all of the concepts of brokerage since you keep trading. For starters, you have to select the right broker who'll be clear with you constantly.
Within this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment program will create hefty returns. HYCM is one such stage that will take you and your investment into great heights. It is crucial to understand all about HYCM until you trust them with your cash.
Our entire HYCM Review covers everything you need to learn about trading with HYCM. A good agent can multiply your first investments and provide you favorable profits. If you would like to earn profits, you should trade with a brokerage service that aligns with your investing goals.
There's absolutely no sure-fire way to guarantee profits; thus, you should carefully analyze your agent before you select them. It's a frequent misconception that all brokers are the same, but that is not true. Wrong judgment, initially, can put your investments at risk.
HYCM is a broker that has paved its way successfully into the broker world. Within this review, we've attempted to collate a number of the vital aspects of HYCM. This review will allow you to know whether HYCM is a good match for your own investments or not. We've tried to breakdown all of the features and charges for your convenience.
HYCM Review, Table Of Contents
- Who are HYCM?
- Benefits Of Trading With HYCM
- Everything you should know about trading with HYCM
- Is HYCM Safe To Trade With?
- Pro's & Con's Of Trading With HYCM?
- Compare Brokers Similar To HYCM
- Regulation And Licencing In More Detail
- HYCM Awards
- Minimum Deposit Required For A Live Account With HYCM
- HYCM Commission And Fees Explained
- Compare broker fees against HYCM
- HYCM Withdrawal Fees Explained
- HYCM Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With HYCM?
- Alternatives To HYCM
- Frequently Asked Questions About HYCM
Who are HYCM?
HYCM is a forex broker headquartered in UK and provides a variety of instruments for trading. Since its establishment in 1977, HYCM has emerged as a leading player in the industry of online broker. HYCM has a highly aggressive and full-featured trading website that's focused on forex, indices, metals, shares, commodities.
Over the past 44 years, HYCM has grown into one of the leading online brokers.
After establishing in 1977, their client base is becoming as large as 10,000+ clients.
HYCM is a favorite for many dealers.. Our HYCM review discovered that they are an superb alternative for automated trading solutions. It's most appropriate for investors that are searching for an assortment of assets. Social and automated trading options are the core at HYCM.
Technology plays a significant role at HYCM. HYCM offers trading on MT4, Tablet & Mobile apps. HYCM is honest, transparent, and a well-regulated agent by the Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048. Their outstanding array of resources will be beneficial for most traders. Third-party partnerships also provide in-house research.
The educational section at HYCM is quite insightful for new traders as it allows them to have a closer look at the financial markets. HYCM caters to all types of traders and are a must-have broker for any well-diversified approach to trading.
If you feel that HYCM is not right for you then at the bottom of this HYCM review you wil find a lot of alternatives to HYCM.
Everything you ought to know about trading using HYCM
HYCM is a lively platform that offers various procedures of trading. These instruments cover the financial markets considerably. The Majority of the brokerage platforms provide less approaches than HYCM
If you would like to trade with HYCM, you'll need a minimum deposit of $100. This deposit is mandatory if you would like to begin trading with HYCM. This 2021 HYCM review will direct you safely about trading with them.
HYCM is as versatile as another brokerage platform. HYCM is ideal for traders that want a manageable range of cheap services. The platforms provided by HYCM are third party, white-label offerings. All traders may pick out of MT4, Tablet & Mobile apps.
Along with everything, HYCM has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction must be kept open. The brokers provide premium customer service that rewards customers with benefits.
Many unprofessional brokers try to pressurise users into bigger financing for superior services. HYCM, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further benefits will become available.
HYCM accounts are available around the world and provides excellent service wherever they have customers. There are some select few countries where HYCM accounts are not available. Traders in the following countries cannot open or use a HYCM account:
Is HYCM Safe To Trade With?
Established in 2006, HYCM has been in operation for 44 years, they have a head office in UK.
HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048. These bodies have rules that mandate that trading platforms have measures in place to keep investor's resources procured. This means that HYCM users do not need to worry about their money since it is segregated and safely kept in established banks. SSL encryption secures every user's private information as well.
You can make use of a choice for 2 Factor Authentications (2FA) with HYCM for heightened safety. An SMS with the confirmation code will be sent to your phone. You will be required to enter this code to log into your accounts.
Another concern with financial brokers with respect to safety might be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is much more prevalent in the example of Market Maker brokers who compete with users on the stage.
Pro's & Con's Of Trading With HYCM
Every online trading platform will have a few ups and downs, and no HYCM review would be complete without having a balanced approach. This HYCM review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- HYCM is trusted by 10,000+ clients
- HYCM doesn't charge deposit fees
- HYCM doesn't charge CFD fees
- HYCM offer trading on MT4, Tablet & Mobile apps
- HYCM offer 100 trading instruments
- HYCM trades major forex pairs
- HYCM trades minor forex pairs
- HYCM trades exotic forex pairs
- HYCM offers trading on cryptocurrencies
- HYCM can communicate in English, Chinese, Chinese (Traditional), Arabic, and Russian
- HYCM does not offer Negative Balance Protection
- HYCM does not offer Guaranteed Stop Loss
- HYCM charge withdrawal fees
- HYCM charge inactivity fees
HYCM Review - Compare Brokers Similar To HYCM
|HYCM||Forex Club||Corner Trader||Bell Direct|
|Regulated By||Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048||Cyprus Securities and Exchange Commission (CySEC)||Unregulated||Financial Markets Authority (FMA)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
HYCM Review - Regulation And Licencing In More Detail
HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048.
HYCM, as a company, has a powerful collection of rules for ensuring fair trading onto its own platform. For data encryption purposes, it supplies an industry-standard secure socket layer (SSL).
As per the organization's privacy regulations, client data is never to be shared with some other institutions or individuals. Including credit history and other financial information.
HYCM Review - Awards
- At the time of writing this HYCM review, they had not received any awards.
HYCM Review - Minimum Deposit Required
The minimum deposit you must deposit to begin on HYCM is $100. This is an adequate amount for those just starting out. You can make more advanced deposits as you go along. But, make certain that you understand how to make the most of your money before investing larger sums.
HYCM Review - Commission And Fees Explained
HYCM is an online broker platform, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled better. That is, an online broker isn't necessarily affected by the number of clients they have.
However, this does not mean that online brokers don't charge any fees. They charge prices of varying rates for various services to make money. There are primarily 3 types of penalties for this objective.
The first kind of charges to look out for are trading fees. When you make an actual trade, like buying a stock or an ETF, you are billed trading charges. In such instances, you're paying a spread, funding rate, or even a commission. The kinds of trading fees and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded volume. On the flip side, a spread refers to the gap between the buying and selling price. Financing or overnight prices are those who are charged when you maintain a leveraged position for longer than daily.
Aside from trading fees, online agents also charge non-trading fees. These are determined by the actions you undertake in your account. They are charged for operations like depositing cash, not investing for lengthy periods, or withdrawals.
Generally, HYCM does not charge high fees compared to other online agents. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for those who often exchange, such as weekly or daily trading.
But, non-trading fees charged by HYCM are relatively competitive. As a result, you're charged more for non-trading actions on your trading account, like deposits and withdrawal. These aren't related to the sale and purchase of resources.
This HYCM review breaks down each of the applicable non-trading fees for you in detail.
Compare broker fees against HYCM
|HYCM||Forex Club||Corner Trader||Bell Direct|
HYCM Review - Withdrawal Fees Explained
HYCM charges a withdrawal fee if you make a bank transfer. Every time you move money back into your bank accounts, these withdrawal charges become important.
Withdrawal of money is possible at any moment from your HYCM account. It's possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter used. One thing to keep in mind is that you don't necessarily need to have any money in your account.
In addition, the withdrawn money will be moved directly to the account you use to create deposits. Therefore, in the event that you used a credit card for deposits, then the withdrawn money is going to be sent to the card. HYCM will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing cash in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're opting to draw in.
HYCM Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of those buzzing questions that run through your mind while open an account with HYCM. An inactivity fee is an amount charged to registered traders who haven't participated in buying or selling for a while. The period regarded as inactive is decided by the agent.
The inactivity fee differs from one broker to another and is not generalized. If a traders account does not have a buying or selling transaction, it is maintained by the agent as an inactivity fee. The traders need to pay this fee under conditions and terms they had agreed while enrolling.
HYCM charges an inactivity fee when you don't create any trades for a while.
Even if no fees have been indicated by HYCM, it is best that you close the account if you're inactive. Inactivity fees are not just charged by broker companies but also many financial services.
For additional trading platforms, the inactivity fee is contingent on the sort of account you've chosen. The inactivity fee is exposed to many conditions and needs to be revealed clearly by the broker beforehand.
HYCM Review - Deposit Fees Explained
When you move money into your trading account from your bank account, a deposit fee can be billed by the broker. Most brokers don't charge an excessive amount of money for this particular operation.
HYCM doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the HYCM trading platform is easy. You simply have to complete a single-user profile questionnaire to begin depositing money into your trading account. You will need to provide an identity proof and proof of residency to deposit large sums.
HYCM Review - Compare Broker Deposit Methods
|HYCM||Forex Club||Corner Trader||Bell Direct|
What Can You trade With HYCM?
Note: HYCM offers a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered can be different depending on the country of residence of the client.
HYCM has a wide variety of over 100 instruments available for you to trade with.
If trading forex pairs is of interest to you then HYCM offer over 40 forex pairs.
Compare HYCM, Forex Club, Corner Trader & Bell Direct below.
Alternatives To HYCM
If, after reading this HYCM review, HYCM does not meet your requirements check out these HYCM alternatives.
We've scoured the web to find the best alternatives to HYCM. Click the links below to find out more.
Frequently Asked Questions about HYCM
Can I try HYCM before I buy?
Yes, you can most certainly try HYCM before you buy. HYCM offers demo accounts for the convenience of beginner traders. You can use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you register for a demonstration account on HYCM, you may set out with a decent amount of virtual currency. It's to establish a sense of safety and confidence in you until you choose to invest your own money.
With this digital HYCMdemo account, you can experiment in any way, to whatever length you wish. You can even start positions, examine different trading strategies, and more.
HYCM specifies on its official website which you are able to exchange real time stocks with your demo account.
Is HYCM safe?
You can drop all your worries since we believe that HYCM is perfectly safe to use. It's in compliance with the principles of Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048.
Even so, HYCM does not provide assured stop-loss protection.
Why does HYCM ask for my passport?
The reason that HYCM asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, HYCM has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, HYCM must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with HYCM?
The process to start trading withHYCM is perhaps simple enough to be a cakewalk. You need to begin by signing up on the HYCM website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with HYCM is $100. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with HYCM.
The best way to kickstart your trading career with HYCM is to open a demo account facility before risking any real money
What funding methods do HYCM accept?
There are multiple methods to finance your account with HYCM. The process is effortless and quick, with different payment methods in your fingertips.
You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You have to bear in mind that PayPal is not available in all place. The currencies HYCM
Is my money safe with HYCM?
Yes, your cash is safe and secure with HYCM. As you already know, HYCM works with good conformation to. It's established plenty of measures to guard all its own investors.
HYCM protects its customers' private and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you want to further protect your account, it is possible to empower Two-Step Verification as well. It requires an SMS affirmation that you access your account.
Is HYCM trading good?
Yes, trading via HYCM is a pleasant and decent experience indeed. It's an excellent and intuitive platform with helpful features for your simplicity. In addition, you could also gain access to a huge selection of educational tools and assistive material to kickstart your trading experience.
If you remain skeptical, it is possible to open a eToro demo account and evaluate the trustworthiness of the platform for yourself.
Which Countries does HYCM support?
HYCM operates around the globe. However, due to regulations there are some countries that HYCM cannot accept clients resident in
Is HYCM legit?
HYCM is a legit company headquarted in UK since 1977. They are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048. HYCM is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is HYCM a good broker?
HYCM is an excellent broker, and its users can vouch for this. The highlight of this platform is its fast order execution on transactions.
You'll discover the clean design of the platform and the admirable features that a pleasure to work with.
Is HYCM a trustworthy broker?
Yes, HYCM is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for HYCM?
The minimum deposit to open a live account with HYCM is $100
How long do HYCM withdrawals take?
Normally, withdrawal of money from HYCM is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from HYCM to show in your bank account.
Are HYCM regulated?
HYCM are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048
Is HYCM a market leading broker?
HYCM is indisputably one of the business leaders. It supports over 10,000+ registered customers and over 44 years of expertise on its own record. They are one of the world's leading trading platforms and also a prominent figure in the Fintech revolution.
It simplifies this status to its incredible platform and wide selection of resources plus tools so you can invest in capital markets.
Is HYCM a con?
No, HYCM is not a con. They are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 and must adhere to their rules. Thus, it is safe to say that HYCM is not a scam.
Can you make money with HYCM?
Using HYCM, several traders earn a lot of cash. However, typically, through consistent trading, you also can make between 2% - 10% profit a month.
This may seem like a little number, but over the year, this adds to a significant number of gains. While HYCM provide you all of the tools to make money, they cannot guarantee you will gain.
Does HYCM have fees?
Yes. To start trading with HYCM, you need to deposit $100. Certain commissions while trading also apply. Any processing fees from your bank might need to be incurred by you.
When was HYCM founded?
HYCM was founded in 1977 in UK. HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048.
How many people use HYCM?
HYCM is a worldwide recognised agent with 10,000+ customers.
Where is the HYCM head office?
HYCM has its head office in UK
Does HYCM offer negative balance protection?
No. HYCM does not offer negative balance protection. If your balance is negative, HYCM suggests you promptly contact customer services. With this, you are able to correct any imbalances in your own account.
Does HYCM offer guaranteed stop loss?HYCM regrettably, doesn't offer guaranteed stop loss. HYCM provides a chance to its traders to close their trades at their specified price. Apart from that, HYCM does not provide guaranteed stop loss.
Does HYCM allow scalping?Yes, HYCM do allow scalping. Several traders throughout the world choose HYCM due to their scalping services. They offer trading on MT4, Tablet & Mobile apps which let this.
Does HYCM allow hedging?
Yes, HYCM does allow hedging.
Can you trade energies with HYCM?
Yes, you can trade energy stocks with HYCM
Can you trade agricultural shares with HYCM?
Yes, you can trade agricultural stocks with HYCM
Can you trade cryptocurrency with HYCM?
Yes, you can trade cryptocurrency with HYCM
Can you trade metals with HYCM?
Yes, you can trade metals with HYCM
Can you trade UK Shares with HYCM?
No, unfortunately you cannot trade UK shares with HYCM
Can you trade US Shares with HYCM?
Yes, you can trade US shares with HYCM
Can you trade Japanese Shares with HYCM?
No, unfortunately you cannot trade Japanese shares with HYCM
Can you trade German Shares with HYCM?
No, unfortunately you cannot trade German shares with HYCM
Does HYCM accept bank transfers?
Yes, HYCM accepts bank transfers for depositing money.
Does HYCM accept credit cards?
Yes, HYCM accepts credit cards for depositing money.
Does HYCM accept PayPal?
Yes, HYCM accepts PayPal for depositing money.
Does HYCM accept Skrill?
Yes, HYCM accepts Skrill for depositing money.
Does HYCM accept Payoneer?
Yes, HYCM accepts Payoneer for depositing money.
Does HYCM accept Neteller?
Yes, HYCM accepts Neteller for depositing money.
Does HYCM offer Live Chat customer support?
Yes, HYCM offers customer support through live chat.
Does HYCM offer phone customer support?
Yes, HYCM offers customer support over the telephone.
Does HYCM offer email customer support?
Yes, HYCM offers customer support through email.
What languages can HYCM communicate in?
HYCM has the ability to communicate and support customers who speak: English, Chinese, Chinese (Traditional), Arabic, and Russian
Does HYCM have a wikipedia page?
No, HYCM does not have an official wikipedia page.
Does HYCM offer demo accounts?
Yes, HYCM offers demo accounts so you can learn their systems before risking any real money.