Affiliates also have access to marketing materials, real-time analytics, and dedicated account support. HYCM gives its clients access to the leading MetaTrader 4 and MetaTrader 5 online trading platforms. Furthermore, traders who opt to sign up with HYCM have access to a diverse product offering including forex and a list of CFDs, from commodities to stocks and indices. HYCM offers trading in CFDs on forex, indices, commodities, stocks, and cryptocurrencies.
Commission and Fees
Users can trade cryptocurrencies without physically purchasing them, including Bitcoin and Ethereum. They are constantly looking to add some of the latest and most popular cryptos. I read on their website that they do not offer their services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, Japan, the United States of America and some other regions. Although I find this unpleasing, it isn’t their fault as these countries are quite strict in who they allow to operate within them.
- Alpha Generation, Risk Management, and Indicators Lab are among the tools available.
- And it has certain problems and difficulties at first, and unfortunately not everyone can cope with it.
- HYCM has also garnered recognition through industry awards and actively participates in social initiatives, including sponsorships and community events, further enhancing its reputation.
THEY WILL BLOCK YOUR ACCOUNT AND NEVER…
Overall, I think HYCM are a solid choice for anyone who is looking to trade in a regulated environment with a well-established broker. HYCM offers a well-rounded trading experience with strong regulatory oversight, a wide range of assets, and competitive spreads. With a choice between fixed and variable spreads, this broker accommodates various trading styles.
Our HYCM broker review has found that you can trade more than 300 instruments across five asset classes on MetaTrader 4. EAs are easy to install on MT4 and do not require any third-party bridges. Our HYCM Forex broker review team found three main account types to choose from; Fixed, Classic, and Raw. Premium and VIP accounts are also available, but these require you to contact HYCM directly for further details. Fixed accounts operate with fixed spreads, while Classic and Raw accounts have variable spreads.
HYCM’s support network combines email, phone, and live chat to handle inquiries efficiently. A dedicated account manager is also available for eligible traders, providing personalized account management and trading strategies assistance. HYCM provides traders with a robust collection of educational resources and trading tools to improve their trading skills and decision-making capabilities. These features cater to different experience levels, from beginners to more seasoned market participants. The spreads are built into the cost for Fixed and Classic accounts, starting at 1.5 pips for fixed spreads and as low as 1.2 pips for variable spreads.
There is no commission charged as fees are included within the spread. Deposits to trading accounts can be made in most national currencies, which are subsequently converted into USD, EUR, GBP, RUB, AED, and CAD. However, HYCM does not support accounts denominated in INR, which means that Indian traders will have to pay conversion fees on all deposits and withdrawals. Conversion fees can make trading expensive, and affect profitability.
These regulatory bodies enforce strict financial and operational standards, ensuring HYCM adheres to transparency, accountability, and customer protection measures. Yes, HYCM is regulated by the Financial Conduct Authority (FCA) in the UK and the Dubai Financial Services Authority (DFSA), guaranteeing adherence to financial regulations and safeguarding clients. The popular MetaTrader 4 and MetaTrader 5 platforms, in desktop and mobile versions, are an added advantage when opening an account with HYCM. In addition to being regulated in multiple jurisdictions, they have an operating history of more than 40 years. While MT4 is perfectly adequate for trading CFDs and forex, MetaTrader 5 (MT5) comes with advanced features and functions. Active traders that like to keep multiple charts open at once are certainly going to find these features attractive.
- There is no commission charged as fees are included within the spread.
- The broker provides a user-friendly trading platform, excellent customer support, and various educational resources to help clients improve their skills and trading experience.
- With the exception of brokers such as AvaTrade who have their own proprietary platforms for you to trade on.
How does the Economic Calendar help traders?
Two tier-1 regulators (high trust), two tier-2 regulators (medium trust), and one tier-3 regulator have all approved HYCM (low trust). In 2022, HYCM picked up multiple awards, including Best Forex Broker in both the Middle East and Spain, showing its ability to meet the needs of traders in different regions. One of HYCM’s standout achievements was being named Most Transparent Forex Broker 2023 in the UAE. This award reflects its focus on keeping things clear and straightforward for traders—a quality many value when choosing a broker. Deposits are typically processed within 1-3 hours for e-wallets and cryptocurrency.
These platforms are available as mobile apps (iOS, Android), desktop versions, and web versions. Swap fees are charged when positions are held overnight, based on the interest rate difference between the two currencies in the pair. Triple swaps are applied on Wednesdays for positions held over the weekend.
Platforms
The trading glossary is in the Beginners Course, divided into Basic Forex Terms and Glossary of Concepts. The only negative is that this is not a text-based glossary that you can browse through. Instead, it features video introductions to the terms and concepts you need to understand to trade Forex. That being said, some definitions are available in the FAQ section of the Help Center.
As follows from the quality of the trading process, the company invested a lot in its servers. Another thought that came to my mind was that the broker is well-regulated which means collaboration with top-tier liquidity providers. If you are interested in bonus promotions, the broker can’t offer any because it caters to experienced traders who don’t need it. As for the choice of financial instruments, it’s fairly good because you can trade all classes of assets, including currencies, metals, stocks, energies, indices. By the way, the broker also supports a large list of digital coins.
Alpha Generation, Risk Management, and Indicators Lab are among the tools available. This are excellent for automatically scanning your favourite instruments for trading signals according to your own bespoke conditions. The software can send you an alert so you do not need to be sat at your desk sifting through charts all day long. Trading Central third-party plugins for MetaTrader platforms can be loaded to improve technical analysis and give market forecasts and commentary. HYCM offers a wide range of convenient deposit and withdrawal methods with minimal fees.
You can review fund security to gain more confidence in the safety of your funds. All client funds are held in Tier-1 banks in segregated accounts. Broker also follows rigorous data protection standards, making information security of clients the top priority. The broker also hired Moore Stephens and BDO Ltd to be its independent external auditors for annual audits. Our HYCM UK review suggests VIP accounts for those who plan to trade in higher volumes. This type of account improves spreads on Fixed accounts and adds dedicated account managers and comprehensive market analytics.
Overall, HYCM’s fees are competitive within the industry, offering a range of pricing models to suit different trading styles and preferences. HYCM offers a variety of account types designed to cater to different trading preferences and experience levels. Traders can choose from Fixed, Classic, and Raw accounts, each offering unique features.
Brokers By Licenses
Based on their requirements and experience, traders can choose between a Fixed, Classic, and Raw account. HYCM offers a solid variety of financial instruments to trade, from forex to commodities and cryptocurrencies. HYCM has all types of traders covered with competitive spreads, high leverage, and competitive trading conditions. HYCM provides various account types, including managed and micro accounts, as well as advanced trading tools such as trading signals, market analysis, economic calendars, and charting tools. They also support popular platforms like MT4, MT5, and HYCM Trader. Educational resources, including free courses, webinars, and comprehensive trading tools, further enhance its offering.
Instead of starting from scratch and creating its own platform, HYCM takes advantage of the ever-popular MT4 and MT5 platforms. Both are available on mobile devices as well as desktop, appealing to traders on the go. Regardless of the trading platform hycm review you choose, you have access to five asset classes and over 300 instruments. Small retail traders can start a live trading account with as little as a $100 deposit.
Spreads start from 0.1 pips, though a commission of $4 per round lot applies. HYCM provides an affiliate program with a CPA (Cost-Per-Acquisition) structure, rewarding affiliates based on client referrals. Affiliates gain access to marketing materials, real-time analytics, and dedicated account management to optimize their promotional campaigns.