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 are a new entrant in the realm of trading and broker, so many facts will be confusing for you. Getting into the world of trading requires expert analyzing skills and comprehensive knowledge. You will get adept at all of the concepts of broker as you continue trading. For starters, you need to select the ideal broker who'll be transparent with you always.
Within this fast-paced universe of stock markets and trading, you'll need advice to make correct decisions. A professionally lead investment plan will generate hefty returns. HYCM is just one such platform which will take you and your investment to great heights. It is important to understand about HYCM until you trust them with your money.
Our entire HYCM Review covers everything you will need to know about trading using HYCM. A good agent can multiply your first investments and give you favorable profits. If you want to make profits, you should trade with a brokerage service that contrasts with your investing objectives.
There is no sure-fire way to guarantee profits; therefore, you must carefully assess your agent before you choose them. It's a frequent misconception that all agents will be exactly the same, but that is not true. Wrong judgment, in the beginning, can set your investments in danger.
HYCM is a broker that has found its way successfully into the brokerage world. In this review, we've tried to collate a number of the vital aspects of HYCM. This review can allow you to know whether HYCM is a good match for your own investments or not. We have tried to breakdown all the qualities 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 tools for trading. Since its inception in 1977, HYCM has emerged as a top player in the field of online brokerage. HYCM includes a highly aggressive and full-featured trading site that's focused on forex, indices, metals, stocks , commodities.
Over the past 44 years, HYCM has grown into one of the leading online brokers.
After launching in 1977, their client base has become as big as 10,000+ clients.
HYCM is the favorite of many traders.. Our HYCM review found that they are an superb alternative for automated trading solutions. They're best suited for investors that are looking for a variety of assets. Social and automated trading solutions are the heart at HYCM.
Technology plays a significant role in HYCM. HYCM offers trading on MT4, Tablet & Mobile apps. HYCM is honest, transparent, and a well-regulated broker 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 tools will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.
The trader resource department at HYCM is quite enlightening for new dealers as it allows them to have a closer look in the financial markets. HYCM caters to all types of traders and are a must-have broker for any well-diversified method of 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 with HYCM
HYCM is a lively platform that offers various methods of trading. These instruments cover the monetary markets substantially. The Majority of the broker platforms provide fewer procedures than HYCM
If you want to trade with HYCM, you will need a minimum deposit of $100. This deposit is mandatory if you want to begin trading with HYCM. This 2021 HYCM review will guide you clearly about trading with them.
HYCM is as flexible as another brokerage platform. HYCM is excellent for traders that want a manageable range of cheap services. The platforms offered by HYCM are third-party, white-label offerings. All traders may pick from MT4, Tablet & Mobile apps.
Together with everything, HYCM has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time on which a trade must be kept open. The brokers provide premium client service that rewards clients with advantages.
Many less reputable brokers try to pressurise users into larger financing for premium services. HYCM, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the greater benefits will come along.
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 1977, HYCM has been open 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 make sure that trading platforms have measures in place to maintain investor's assets procured. This means that HYCM users do not need to be worried about their money as it is segregated and safely stored in banks that are established. SSL encryption secures every user's personal information as well.
You can make use of an option for Two Factor Authentications (2FA) with HYCM for heightened safety. An SMS for the verification code will be sent to a mobile phone. You'll be asked to enter this code to log into your accounts.
Another concern with financial brokers is in regards to safety might be manipulation of trading. This is highly disadvantageous for consumers on these platforms. Nonetheless, this is much more prevalent in the example of Market Maker agents who compete with customers on the stage.
Pro's & Con's Of Trading With HYCM
Every online trading platform will have some pros and cons HYCM review would be complete without showing both sides. 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
|Headquarters||UK||United Kingdom||Hong Kong||Cyprus|
|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||Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)||Securities and Futures Commission (SFC)||Cyprus Securities and Exchange Commission (CySEC)|
|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 business, has a strong collection of rules for ensuring fair trading on its own platform. For information encryption purposes, it supplies an industry-standard secure socket layer (SSL).
In accordance with the company's privacy regulations, customer information is never to be shared with any 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 need to begin on HYCM is $100. This is a decent amount for people just starting out. It's possible to make more complex residue as you go along. However, make certain you know how to make the most of your money before investing larger amounts.
HYCM Review - Commission And Fees Explained
HYCM is an online broker platform, and many online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. In other words, an internet broker isn't necessarily affected by the number of customers they have.
However, this doesn't mean that online brokers do not charge any fees. They charge fees of varying rates for various services to make money. There are mainly three different types of fees for this purpose.
The first sort of charges to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you're charged trading fees. In such instances, you're spending a spread, funding speed, or a commission. The sorts of trading charges and the prices differ from broker to broker.
Commissions can be fixed or determined by the traded volume. On the flip side, a spread refers to the difference between the buying and selling cost. Financing or overnight prices are people who are charged when you maintain a leveraged position for more than daily.
Aside from trading fees, online brokers also charge non-trading fees. These are determined by the activities you undertake in your account. They are charged for surgeries like depositing money, not trading for long periods, or withdrawals.
In general, HYCM does not charge high fees in comparison to other online agents. For operations other brokers fee for, they do not charge a broker fee, or they charge a lesser sum. This can be beneficial for those who regularly trade, for example daily or weekly trading.
However, non-trading fees billed by HYCM are relatively lower. Consequently, you are billed more for non-trading actions on your trading accounts, like deposits and withdrawal. These are not about the sale and purchase of assets.
This HYCM review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against HYCM
HYCM Review - Withdrawal Fees Explained
HYCM charges a withdrawal fee if you create a bank transfer. Every time you transfer money back into your bank account, these withdrawal charges become important.
Withdrawal of money is possible at any time from your HYCM account. It's possible to draw sums up to the sum of your account balance, keeping aside the margin utilized. One thing to keep in mind is that you don't necessarily need to have any cash in your accounts.
In addition, the withdrawn money will be transferred directly to the account you use to make deposits. Therefore, in the event that you used a credit card for deposits, the withdrawn money is going to be sent into 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're withdrawing cash in different currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the currency you're opting to withdraw in.
HYCM Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your head while open an account with HYCM. An inactivity fee is an amount charged to registered dealers that haven't engaged in purchasing or selling for some time. The period regarded as inactive is determined by the broker.
The inactivity fee differs from one broker to another and isn't generalized. If a dealers account doesn't have a purchasing or selling transaction, it's maintained by the broker as an inactivity fee. The traders need to pay this commission under terms and conditions that they had consented while enrolling.
HYCM charges an inactivity fee when you don't make any trades for a while.
Even if no fees are indicated by HYCM, it's better for you to close the account if you're inactive. Inactivity fees are not just charged by brokerage companies but also many financial services.
For additional trading platforms, the inactivity fee depends upon the type of account you have chosen. The inactivity fee is exposed to a lot of conditions and should be revealed clearly by the agent beforehand.
HYCM Review - Deposit Fees Explained
When you move money in your trading account by the bank account, a deposit fee can be billed by the broker. Most brokers do not charge too much money for this operation.
HYCM doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the HYCM trading platform is simple. You simply have to finish a single-user profile survey to start 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
What Can You trade With HYCM?
Note: HYCM provides many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may differ 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 currency pairs.
Compare HYCM, Barclays, Blitzbrokers & ATFX below.
Alternatives To HYCM
If, after reading this HYCM review, HYCM doesn't meet your needs check out these HYCM alternatives.
We have scoured the internet to find the best alternatives to HYCM. Click the links below to learn more.
Frequently Asked Questions about HYCM
Can I try HYCM before I buy?
Yes, you can most definitely try HYCM before you buy. HYCM provides demo accounts for the convenience of new traders. You may use this feature to build your faith in the system as well as yourself and your trading strategies.
If you register for a demo account on HYCM, you will set out with a decent amount of virtual currency. It's to establish a feeling of security and confidence in you until you choose to invest your own money.
With this virtual HYCMdemo account, you are able to experiment in any way, to whatever period you wish. You can even open positions, examine different trading approaches, and much more.
HYCM specifies on its official website that you can exchange real time stocks with your demo account.
Is HYCM safe?
It is possible to drop all your worries because 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 doesn't 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 accounts 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 must keep in mind that PayPal is not available in all country. The monies HYCM
Is my money safe with HYCM?
Yes, your cash is safe and protected with HYCM. As you know, HYCM works with good conformation to. It's established lots of measures to protect all of its investors.
HYCM protects its clients' personal and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, it is possible to empower Two-Step Verification as well. It requires an SMS confirmation for you to get your accounts.
Is HYCM trading good?
Yes, trading through HYCM is a nice and good experience indeed. It is an excellent and intuitive platform with helpful features for your simplicity. Moreover, you could even obtain access to a vast selection of educational resources and assistive substance to kickstart your trading expertise.
If you are still skeptical, it is possible to open a eToro demo account and assess the credibility 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 does not accept clients from
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 a great broker, and its own users may vouch for this. The highlight of the platform is its fast order execution on trades.
You will find the clean layout of the platform along with 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 users and over 44 years of expertise on its record. They're one of the world's top trading platforms and also a dominant figure in the Fintech revolution.
It simplifies this status to its unbelievable platform and broad selection of resources plus tools so you may 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 make a lot of cash. However, on average, through continual trading, you also can create between 2% - 10% profit a month.
This can look like a small number, but over the entire year, this adds to a significant amount of gains. Even though HYCM supply you all the tools to earn money, they cannot guarantee you will profit.
Does HYCM have fees?
Yes. To start trading with HYCM, you need to deposit $100. Particular commissions while trading also applies. 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+ clients.
Where is the HYCM head office?
HYCM has its head office in UK
Does HYCM offer negative balance protection?
No. HYCM does not provide negative balance protection. If your balance is unfavorable, HYCM indicates you promptly contact client services. For this, you can correct any imbalances within your own account.
Does HYCM offer guaranteed stop loss?HYCM regrettably, does not provide guaranteed stop loss. HYCM gives a chance for its dealers to close their trade at their given price. Apart from this, HYCM doesn't provide guaranteed stop loss.
Does HYCM allow scalping?Yes, HYCM do allow scalping. Many traders across the world choose HYCM due to their services that are trading. They offer trading on MT4, Tablet & Mobile apps which allow 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.