HYCM, founded in 1998, has emerged as a prominent player in the online trading industry. With over two decades of experience, this broker has built a reputation for providing traders in 140 countries with a comprehensive and reliable trading environment.
HYCM offers access to a wide range of financial instruments, including Forex, stocks, indices, commodities, and cryptocurrencies. This broker is Regulated by top-tier financial authorities (including FCA, DFSA, and SVG FSC) and offers competitive trading conditions for traders of all levels.
In this HYCM review, we'll examine the various aspects of this broker’s services to help you determine if it's the right broker for your trading needs.
HYCM Company Information and Regulatory Status
HYCM is a well-established financial group that has evolved significantly over the years, consistently delivering a first-class trading experience to its global clients. The group's commitment to regulatory compliance is evident in its multiple regulated entities:
- HYCM Capital Markets (UK) Limited is authorized and regulated by the UK's Financial Conduct Authority (FCA), one of the world's most respected financial regulators.
- HYCM Capital Markets (DIFC) Limited operates under the supervision of the Dubai Financial Services Authority (DFSA), ensuring a strong presence in the Middle East (license number F000048).
- HYCM Ltd is set up and licensed by Saint Vincent and the Grenedines, extending its services to a broader international audience.
This multi-jurisdictional regulatory framework underscores HYCM's commitment to maintaining high standards of operational integrity and client fund security.
HYCM Broker Summary Specifications
HYCM stands out as a next-generation online trading broker, offering superior trading conditions and excellent customer support. Here's a comprehensive summary of HYCM's key features:
Broker | HYCM |
Account Types | Fixed, Classic, RAW |
Regulating Authorities | SVG FSC, FCA, DFSA |
Based Currencies | EUR, USD, GBP, AED, JPY |
Minimum Deposit | $20 |
Deposit Methods | Visa/MasterCard, Paypal, Bank wired, Neteller, Skrill |
Withdrawal Methods | Visa/MasterCard, Paypal, Bank wired, Neteller, Skrill |
Minimum Order | 0.01 Lot |
Maximum Leverage | 1:500 |
Investment Options | Copy trading |
Trading Platforms & Apps | MT4, MT5, HYCM Trader |
Markets | Forex, indices, commodities, stocks, cryptocurrencies, energy, metals |
Spread | Floating from 0.1 pips |
Commission | From $0 to $5 per round |
Orders Execution | Market Еxecution, Instant Еxecution |
Margin Call/Stop Out | 100%/20% |
Trading Features | Demo account, Forex calculator, economic calendar |
Affiliate Program | Yes |
Bonus & Promotions | Deposit bonus |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, live chat, phone |
Customer Support Hours | 24/5 |
Restricted Countries | USA, Hong Kong, North Korea, Sudan, Canada, France, Belgium, Syria, Afghanistan |
HYCM Account Types
HYCM offers a diverse range of account types to cater to various trading styles and experience levels:
Account types | Fixed | Classic | RAW |
Minimum deposit | $20 | $20 | $20 |
Minimum trading volume | 0.01 Lot | 0.01 Lot | 0.01 Lot |
Maximum Leverage | 1:500 | 1:500 | 1:500 |
Spreads | Floating from 1.5 pips | Floating from 1.2 pips | Floating from 0.1 pips |
Commission | No | $ No | From $0 to $5 per round |
Maximum number of orders | Unlimited | 250 | 250 |
These account types cater to a wide range of traders, from beginners to experts.
HYCM also offers 2 a Demo and an Islamic account:
Demo Account
HYCM demo account is perfect for traders who want to learn about trading without risking their own capital. Main faetures of this account type:
- Risk-free practice environment
- Access to live market conditions
- Perfect for beginners or for testing strategies
Islamic Account
This account is desigend for traders who don't want to pay overnight swap fees. key features of this account:
- Swap-free trading in compliance with Sharia law
- Available for Fixed, Classic, and Raw account types
HYCM Broker Sign Up & Account Verification Guide
Opening an account with HYCM is a straightforward process designed to get you trading while ensuring compliance with regulatory requirements. Here's a step-by-step guide:
- Visit the HYCM website and click on the "Open Account" button;
- Enter your name, email, and phone number or use social media accounts to sign up;
- Enter your personal information
- Choose your trading platform, account type, leverage, and account currency
- Head to the “Verification Tab”
- Complete your financial profile
- Upload your ID verification documents (ID card, passport, driver’s license)
- Upload Address verification documents (Bank statement, utility bill, other government-issued documents)
HYCM Trading Platforms and Apps
HYCM offers a variety of trading platforms to cater to different trader preferences and needs:
MetaTrader 4 (MT4):
- Industry-standard platform
- User-friendly interface
- Advanced charting tools and technical indicators
- Supports Expert Advisors (EAs) for automated trading
- Available for desktop, web, and mobile devices
Links:
MetaTrader 5 (MT5):
- Next-generation platform with enhanced features
- More timeframes (21) and analytical tools than MT4
- Supports trading in stocks and futures in addition to forex
- Economic calendar integrated into the platform
- Available for desktop, web, and mobile devices
Links:
HYCM Trader App:
- Proprietary mobile trading application
- Intuitive and user-friendly interface
- Real-time quotes and charts
- One-click trading functionality
- Available for iOS and Android devices
Links:
HYCM Spreads, Commissions, and other costs
HYCM offers competitive spreads and commissions across its various account types:
Account types | Spread | Commission |
Fixed | Floating from 1.5 pips | No commission |
Classic | Floating from 1.2 pips | No commission |
RAW | Floating from 0.1 pips | $0 to $5 per round |
Other trading fees on HYCM broker:
- No deposit fee
- No withdrawal fee
- Standard overnight swap fee
- No currency conversion fee
- $10 monthly inactivity fee
HYCM's diverse account options allow traders to choose the pricing structure that best fits their trading strategy and volume. The competitive spreads, especially on the Raw account, make HYCM an attractive option for cost-conscious traders.
HYCM Broker Deposit & Withdrawal Options
HYCM provides a range of convenient options for depositing and withdrawing funds:
Method | Minimum deposit | Minimum withdrawal | Withdrawal Processing time | Fees |
Bank wired | $20 | $300 | 1 to 4 working days | $0 |
Visa/MasterCard | $20 | $20 | 1 to 7 working days | $0 |
Neteller | $20 | $20 | Within 24 hours | |
Skrill | $20 | $20 | Within 24 hours | $0 |
Perfect Money | $20 | $20 | Within 24 hours | $0 |
Fasapay | $20 | $20 | Within 24 hours | $0 |
Webmoney | $20 | $20 | Within 24 hours | $0 |
Crypto | $20 | $30 | Within 24 hours | $0 |
AstroPay | $20 | $20 | Within 24 hours | $0 |
PayTrust | $20 | $20 | Within 24 hours | $0 |
Zotopay | $20 | $20 | Within 24 hours | $0 |
Important Notes:
- HYCM broker doesn’t charge fees over $300
Withdrawals over $5000 through Skrill and Neteller are subjected to a 1% processing fee - HYCM doesn’t charge commissions on deposits
Copy Trading and Investment Options Provided by HYCM Broker
As of the latest information, HYCM does not offer a dedicated copy trading or social trading feature. However, it's worth noting that the broker provides other investment options through MT4 and MT5 Expert Advisors (EAs), which allow for automated trading based on pre-set strategies.
While HYCM doesn't currently offer copy trading, its suite of tools and resources provides traders with various ways to enhance their trading experience and potentially improve their performance.
HYCM Bonuses and Promotions
HYCM offers various bonuses for both new and existing clients:
- Refer a Friend: Earn up to $200 for each successful referral
- Zero Fees: Experience zero deposit fees
- Deposit bonus: Referred friends can get up to $180 deposit bonus
Remember, bonuses often come with terms and conditions, so always read the conditions before using them.
HYCM Broker Support
HYCM is available 24/5 to fix clients’ issues and answer their questions. HYCM support contact methods:
- Live Chat: Available for instant assistance
- Phone Support: +44 2088167812
- Email: support@hycm.com
- FAQ Section: Comprehensive self-help resource
HYCM Reviews and Trust Scores
It’s time to check out trust scores in our HYCM review. Traders gave HYCM broker 3.7 from 5 in the Trustpilot. Traders had different experience using this platform.
TF Expert Suggestion
HYCM Broker (also called Henyap Capital Markets) provides excellent services to traders in 140 countries. This broker has offices in various countries, including Cyprus, Hong Kong, and the United Arab Emirates, and holds regulatory licenses from FCA, DFSA, and SVG FSA financial authorities.
The broker's commitment to regulation and security provides peace of mind while supporting MT4 and MT5 trading platforms cater to the old and modern traders. Overall, traders might do their due diligence and weigh the pros and cons of each forex trading platform before creating an account in them.
