HYCM Review

HYCM is an established online trading service provider with over 40 years of experience. Since its establishment in 1977, HYCM has become one of the oldest brokers in the industry. The company is regulated by reputable authorities such as the FCA, CySEC, and CIMA, ensuring compliance with MiFID regulations. With FCA regulation, which is highly regarded, HYCM is recognized as a legitimate broker. HYCM offers tight spreads and fast execution, providing traders with competitive advantages. Client funds are protected through segregated accounts with Tier-1 banks, guaranteeing safety for FCA, CySEC, and CIMA clients. Furthermore, FCA and CySEC clients benefit from additional protection through the Financial Services Compensation Scheme (FSCS) and the Investors Compensation Fund (ICF), respectively. Data protection is a priority for HYCM, employing state-of-the-art technology and robust processes to ensure user authorization, data protection, and secure network communication. All connections and data transmissions are encrypted using 128-bit keys, including traders' data. To prevent traders from losing more than their trading account balance, HYCM offers negative balance protection, a valuable feature, especially when trading with the maximum leverage of 1:500, which HYCM provides. HYCM understands the importance of customer support and offers multilingual 24/5 assistance through various channels, including live chat, email support, a hotline, and an extensive help and education center. Deposits and withdrawals are conveniently processed through popular methods such as wire transfer, bank cards, Skrill, Neteller, Perfect Money, and Bitcoin. The best part is that all deposits and withdrawals are free of charge, and withdrawals are typically processed within 24 hours.
Algeria, Andorra, Angola, Antigua and Barbuda +145 more
Account currencies
AED, CAD, EUR, GBP +2 more
CFDs on Stocks, Crypto CFDs, Energies, Indices, Precious metals, Soft Commodities
MT4, MT5
Deposit methods
Bank Transfer, Bitcoin, Credit Card, Neteller, Perfect Money, Skrill
Segregated accounts, Copy trading, Demo account, Exotic Pairs, Expert Advisors, Fast withdrawals, Fixed spreads, Hedging allowed, High leverage, Lowest minimum deposit, Micro Lots, Negative balance protection, PAMM, Part of compensation scheme, Provides webinars and seminars, Swap-free
Credit bonus
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HYCM provides three distinct account types: Fixed, Classic, and Raw. The Fixed account offers a fixed spread of 1.5 pips on major pairs, requires a minimum deposit of 100 USD, does not allow EAs (Expert Advisors), offers an Islamic version, and has a minimum lot size of 0.01. No trading commission is charged for Forex pairs in the Fixed account. The Classic account features variable spreads starting from 1.2 pips, zero commission, a minimum deposit of 100 USD, allows EAs, provides Islamic accounts, and has a minimum lot size of 0.01 lots. The Raw account offers the lowest spreads among the three account types, starting from 0.1 pips, with a trading commission of 4 USD per lot round turn. It requires a minimum deposit of 200 USD, allows EAs and Islamic accounts, and has a minimum lot size of 0.01 lots. The maximum leverage depends on the trader's jurisdiction. For FCA and CySEC jurisdictions, the maximum allowed leverage for retail clients on major Forex pairs is 1:30. However, in other jurisdictions, it can be as high as 1:500. HYCM also provides VIP accounts with added benefits such as a dedicated account manager, improved spreads, and comprehensive market analysis services. Recently, the broker added over 1000 stocks and introduced a dedicated trading account with zero commissions, a 10 USD initial deposit for fractional shares trading and investing, and the option to receive dividends. The leverage for the investment account is 1:1. HYCM offers custom MT4 and MT5 trading platforms that are available on desktop and mobile devices. These platforms support trading in over 300 instruments from five different asset classes: Forex, indices, commodities, cryptocurrencies, and share CFDs. To assist with market research, HYCM provides various tools including an economic calendar and calculators. The educational section offers webinars, workshops, seminars, and a Forex knowledge base. Overall, HYCM is a well-rounded broker with extensive experience, strong regulations, favorable trading conditions, and a sufficient educational and market research base.

FAQs about HYCM

Is HYCM a good broker?

Yes, HYCM is a good broker with 40 years of experience, strong regulations from FCA, CySEC, and CIMA, tight spreads, fast execution, data protection measures, and negative balance protection.

Is HYCM regulated?

Yes, HYCM is regulated by reputable authorities including FCA, CySEC, and CIMA, ensuring the safety and legitimacy of the broker's operations. HYCM is also compliant with MiFID regulations.

What is the max leverage of HYCM?

The maximum leverage offered by HYCM depends on the trader's jurisdiction. For FCA and CySEC clients, the maximum allowed leverage for retail clients on major Forex pairs is 1:30. For other jurisdictions the leverage is capped at 1:500.