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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4
/ 5

HYCM review

By azeshan
Updated on Aug 29, 2024
|
8 mins read

Overview

HYCM, previously HY Markets, is a leading international online trading platform that offers services to traders in more than 140 nations in different regions. The company was established...
See full overview for HYCM
Countries
+193
Devices
Minimum deposit
20$
Withdrawal fee
No
Deposit fee
No
Max insured
No
Our Verdict
4
/ 5
Commissions & Fees
4.7
/ 5
Deposit & Withdrawal
3.6
/ 5
Customer Support
3.7
/ 5
Account Opening
3.7
/ 5
Regulation & Safety
4.5
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.

  • Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.

  • Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.

  • A unique mobile trading app: HYCM has proved that it is an industry leader with the availability of its trading app. Only a few brokers can boast of an exclusively designed trading platform.

Cons

  • Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.

General details

Type of accounts
Demo accounts (with a time limit)
Standard Accounts
Swap free accounts
VIP accounts
Segregated accounts
Execution Model
MM
Deposit currency
USD
EUR
GBP
AED
Regulatory complience
FCA
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Spanish
Chinese
Russian
Hindi
Autotrading
MT4 EA MT5 EA Trading Central HYCM Invest
Contact details
[email protected] +442088167812

Customer reviews

Read real reviews from traders all over the world:

A
Albert Martino
6 August 2023
Advantages: Very solid offers from HYCM. I don't know what about you guys but if there is a broker whom you should trust it is hycm. And they are offering very competitive fees, spreads and everything. Platform is working very smoothly. And I want to mention the part about withdrawals and funding in the advantages because that is just blazingly fast and secure. I have never ever had a problem with money in hycm and I am sure you will not have as well.
Disadvantages: I am not sure if there are any. I mean there is no perfect thing of course but for sure I can not see something to say that it is a disadvantage. You can really try and make up some sort of unnecessary and useless disadvantages from nowhere but that is not how I consider the good review should look like.
In general, you can see from this review that I am satisfied with hycm and it is really and totally based on my experience with them.
M
Markus Wurfel
31 July 2023
Advantages: Established company, possibility to invest in real stocks, MT platforms, any type of trading startegy is permitted;
Disadvantages: small amount of account types, no algo trading for fixed acount
Hycm is a renowned forex broker that has recommmended itself as a reliable mediator for any type of traders. You can literally trade any trading style whatsoever, the broker welcomes scalpers, psitional traders or even algo traders. It’s a great place to consider.
See all 173 customers reviews

Accounts

Type of Trading Accounts

Every trader on the HYCM platform has access to various account types tailored to their trading experience, goals, and methods. However, the trading requirements for each type of account differ per the regulatory rules of various jurisdictions. Generally, the following account types are available to traders on HYCM:

  • Fixed Account: This HYCM account suits traders who prefer to trade in lower quantities and fixed spreads. While this account is commission-free, a minimum deposit of $20 is required. The account has a 0.01 lot size and fixed spreads, which start at 1.8 pips. It is important to note that swap options, automatic trading features, and EAs are unavailable on this account.
  • Classic Account: This HYCM account is intended for traders who enjoy trading with floating spreads. Like the Fixed Account, this account has a $20 minimum deposit requirement and zero commission fees. The Classic Account also has a 0.01 lot size, with floating spreads beginning at 1.2 pips. While there are no swaps on this account, traders can access EAs and automated trading features.
  • Raw Account: This HYCM account is recommended for traders seeking the lowest available spreads. Its spread starts from 0.2 pips. The account affords traders access to EAs and, similar to the fixed and classic accounts, has no swap. However, unlike the other two accounts, the HYCM Raw Account requires a minimum deposit of $20 and charges a commission fee of $4 per round on trades.
  • Islamic Account: This HYCM account strictly complies with the financial principles of the Sharia Law. With this account, traders are not charged for the first 14 days for holding a position. However, once this stipulated period elapses, a standard storage fee of $5 is imposed per complete contract every night. The Islamic account is accessible on all three primary account types.
  • VIP Account: This HYCM account is designed for high-volume traders and provides competitive spreads, commissions, and a minimum deposit of $20. Traders also have access to more comprehensive market research and enjoy the services of a personal trading manager.
Pro - HYCM
Availability of a VIP account
Phone trading
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile CURRENEX VIKING
Deposit currency
USD
EUR
GBP
AED
Trading instruments
Spread betting
Stop Out
10 %
Minimum position size
1 units
Maximum position size
50 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
70 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Classic - HYCM
Swap-free account
Availability of a VIP account
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
GBP
AED
Stop Out
10 %
Minimum position size
1 units
Maximum position size
50 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
70 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Fixed - HYCM
Swap-free account
Availability of a VIP account
Phone trading
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
GBP
AED
Trading instruments
Forex
1:400
Number of currency pairs: 27
ARS
AUD
BGN
CAD
CHF
CLP
CZK
DKK
EUR
GBP
HKD
HUF
ILS
ISK
JPY
MXN
NOK
NZD
PLN
RUB
SAR
SEK
SGD
TRY
UAH
USD
ZAR
1:20
1:100
1:50
Stop Out
10 %
Minimum position size
0.01 units
Maximum position size
50 units
Execution type
instant
Spread type
Floating
Decimal places
5
Margin Call
70 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Demo - HYCM
Swap-free account
Availability of a VIP account
Phone trading
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
GBP
AED
Trading instruments
Forex
1:400
Number of currency pairs: 29
ARS
AUD
BGN
CAD
CHF
CLP
CZK
DKK
EUR
GBP
HKD
HRK
HUF
ILS
ISK
JPY
MXN
NOK
NZD
PLN
RUB
SAR
SEK
SGD
THB
TRY
UAH
USD
ZAR
1:20
1:100
1:50
Stop Out
10 %
Minimum position size
0.01 units
Maximum position size
50 units
Execution type
instant
Spread type
Floating
Decimal places
5
Margin Call
70 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

HYCM offers a total of over 300 trading instruments. This includes:

  • Forex: 69 currency pairs
  • Commodities: Various metals, energies, and agricultural products
  • Indices: Over 15 major global indices
  • Stocks: Over 170 major global stocks
  • Cryptocurrencies: Major cryptocurrencies
  • ETFs: Various Exchange-Traded Funds
  • Bonds: A selection of government bonds
  • Options: Specific options trading availability
Stocks
150
Indices
15
Commodities
11
Currencies
69
Indices
10
Bonds
10
Cryptocurrencies
10

Frequently asked questions

Find the right answer to your question below.

What is the minimum deposit required to open an account with HYCM?

HYCM has no fixed minimum deposit, as the minimum deposit depends on the trader’s preferred account type.

When can I contact HYCM’s customer support team?

HYCM’s customer support team is primarily available 24/5. You can contact the team any time on working days, excluding complaints forwarded to [email protected] which is only available between 9:00 and 18:00 (GMT +3). The team is unavailable on weekends, and customer requests during this period will be attended to the next working day.

HYCM compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
  • 4
    / 5
  • 3.6
    / 5
  • 20$
  • 1:400
  • 4.7
    / 5
  • No
  • No
  • 4.5
    / 5
  • FCA
  • No
  • See review
Exness
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • 4.9
    / 5
  • 4.9
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • $0
  • $0
  • 4.6
    / 5
  • FCA, CYSEC
  • No
  • See review
RoboForex
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 4.9
    / 5
  • 5
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • 1%
  • $0
  • 4.9
    / 5
  • No
  • Yes
  • See review
FxPro
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
  • 4.8
    / 5
  • 4.9
    / 5
  • $100
  • 1:10000
  • 4.7
    / 5
  • $0
  • $0
  • 4.8
    / 5
  • FCA
  • Yes
  • See review
Alpari
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.5
    / 5
  • 4.5
    / 5
  • $5
  • 1:1000
  • 4.5
    / 5
  • $0
  • $0
  • 4.5
    / 5
  • No
  • No
  • See review
  • 4.5
    / 5
  • 4.7
    / 5
  • N/A
  • N/A
  • 4.5
    / 5
  • N/A
  • N/A
  • 3.8
    / 5
  • No
  • No
  • See review
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