HYCM Review 2021

4.8

By 5 User Reviews

Regulated By:FCA, CySEC, CIMA, SVGFSA

Foundation Year:1977

Headquarters:18 King William Street, London, EC4N 7BP, United Kingdom

Min Deposit:$100

Open Account

High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

Jitan Solanki

Last updated: Nov 25, 2020

At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

“HYCM is a multi-regulated broker providing trading services since 1977 to trade on more than 300+ financial CFD instruments across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs from the globally recognised MetaTrader 4 and MetaTrader 5 trading platform.”

HYCM is part of the Henyep Group which is an international conglomerate with businesses in financial services, property, education and charity. The broker has entities authorised and regulated by the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission and the Cayman Islands Monetary Authority.

HYCM Limited, which operates www.hycm.com is an International Business Company registered in St. Vincent and the Grenadines and as such is not regulated but does offer negative balance protection.

The broker offers three types of trading accounts called Fixed, Classic and Raw which have competitive spreads and a mix of commission-free and commission-based trading. Users are offered more than 300+ financial CFD instruments to trade on, across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs. The broker also offers Islamic swap-free trading accounts and demo trading accounts.

The globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for Desktop, Web and Mobile are offered by the broker. As well as a large range of trader research and education tools which includes articles, videos, live market analysis, seminars and webinars and access to 24/5 customer support in multiple languages.

Pros:	Cons:
Global regulation (FCA, CySEC, CIMA). 300+ financial CFD instruments to trade on. Commission-free trading available. Raw spread accounts available. Can trade on MT4 and MT5.	St.Vincent and Grenadines entity not regulated.

General Information

Official Site:https://www.hycm.com/en

Demo:Open Demo Account

Regulated By:FCA, CySEC, CIMA, SVGFSA

Foundation Year:1977

Headquarters:18 King William Street, London, EC4N 7BP, United Kingdom

Min Deposit:$100

Max Leverage:1:500

Publicly Traded:No

Deposit Options:FasaPay, Webmoney, Cryptocurrencies, PerfectMoney, PayPal, Wire Transfer, Moneybookers, Skrill, Neteller, Credit Card, Paytrust88

Withdrawal Options:FasaPay, Webmoney, Cryptocurrencies, PerfectMoney, PayPal, Wire Transfer, Moneybookers, Skrill, Neteller, Credit Card, Paytrust88

Tradable Assets:Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Futures, Crypto

Trading Platforms:MT4, MT5

Commission on Trades:Yes

Fixed spreads:Yes

Trading Desk Type:Dealing Desk, Market Maker

OS Compatibility:Desktop platform (Windows), Desktop platform (Mac), Web platform

Mobile trading:Android, iOS

Accepts US Clients:No

Rate HYCM

HYCM Video Review

Investor Protection & Regulations

“HYCM is authorised and regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Cayman Islands Monetary Authority (CIMA). However, HYCM Limited, based in St.Vincent and the Grenadines is not regulated.”

Most of HYCM’s entities are authorised and regulated around the world. This includes:

HYCM – authorised and regulated by the UK Financial Conduct Authority under Henyep Capital Markets (UK) Limited for www.hycm.co.uk
HYCM (Europe) – authorised and regulated by the Cyprus Securities and Exchange Commission under HYCM (Europe) Ltd for www.hycm.eu
HYCM Limited which operates www.hycm.com is an International Business Company registered in St. Vincent and the Grenadines and is not regulated by a financial regulator.

The licenses for HYCM and HYCM (Europe) can be found on the relevant regulator’s register, as the example of the FCA register shows below:

Tradable Products

“HYCM offers users the ability to trade on more than 300+ financial CFD instruments across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs.”

HYCM offers users the ability to trade on more than 300+ financial CFD instruments across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs. Below is a list of just some of the available markets for trading:

Forex	Indices	Commodities
EURUSD	US 500	Gold
GBPNZD	US 100	Silver
AUDSEK	US 30	Gold Euro
USDJPY	UK 100	Silver Euro
Stocks	ETFs	Cryptocurrencies
Alibaba	iShares MSCI EM	BTCUSD
Apple	iShares MSCI EAFE	LTCUSD
Amazon	iShares MSCI Taiwan	ETHUSD
Facebook	iShares MSCI South Korea	XRPUSD

* Details regarding the available assets are taken from the HYCM website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and the account type opened and are covered in more detail further down this review.

Account Opening

“HYCM provides users with a choice of 3 different trading accounts called Fixed, Classic and Raw. The broker also offers a free demo trading account and Islamic swap-free accounts.”

HYCM provides access to 3 core trading accounts called Fixed, Classic and Raw. Some of the features of the accounts are highlighted below:

	Fixed Account	Classic Account	Raw Account
Spreads	From 1.8 pips	From 1.2 pips	From 0.2 pips
Type	Fixed spreads	Variable spreads	Raw spreads
Commissions	Zero	Zero	$4 per round turn
Minimum Deposit	$100	$100	$200
Islamic Account	Yes	Yes	Yes
Account currency	USD, EUR, GBP, RUB, AED
Leverage	Maximum 1:500, or 1:30 depending on regulator

Opening a live account is a simple process and can be done by clicking the ‘Open Live Account’ button on the broker’s website. This will then redirect you to a registration page which asks for usual information such as personal details, account type settings, etc. Once the terms and conditions have been accepted users are redirected to the My HYCM client portal area.

In this area, users can open trading accounts, deposit and withdraw funds, access different trading tools and research. Users can also verify their identity and address by clicking the ‘Verify Now’ button and provide proof of address and proof of identity document, as well as fill out more details regarding their trading experience, employment and income details.

Deposit & Withdrawals options

“HYCM offers a wide variety of deposit and withdrawal methods which include bank wire transfer, debit/credit cards, Neteller, Skrill and WebMoney.”

HYCM offers a wide variety of deposit and withdrawal methods which includes bank wire transfer, credit/debit cards and a variety of e-wallets such as Neteller, Skrill and WebMoney. Processing times and fees vary but can be found on the broker’s website.

Deposits are fee-free and can be processed in up to an hour (except bank wires)
- Minimum deposit of $250 for bank wire
- Minimum deposit of $20 for credit/debit cards and e-wallets
Withdrawals are also fee-free and are processed in up to an hour (except bank wires)
- Minimum withdrawal of $300 for bank wires
- Minimum withdrawal of $20 for credit/debit cards and e-wallets
- Withdrawals over $5,000 to Skrill or Neteller subject to 1% processing fee

Both deposits and withdrawals can be done easily from the HYCM client portal area.

Web & Desktop Trading Platforms

“HYCM offers users the ability to trade on the globally recognised MetaTrader 4 and MetaTrader 5 trading platform for desktop and web.”

HYCM MetaTrader 4

Users can trade on the globally-recognised MetaTrader 4 for desktop which comes with a range of features, such as the ability to:

Access 80+ technical indicators
Perform one-click trading functions
Trade on multiple asset classes
Automate strategies using Expert Advisors

HYCM MetaTrader 5

Users can trade on the globally-recognised MetaTrader 5 for desktop which comes with a range of features, such as the ability to:

View 21 different timeframes
Trade on multiple asset classes
Use hedging orders
Trade via one-click trading

HYCM MetaTrader Web Trader

Users can also trade on the globally-recognised MetaTrader Web Trader for both MT4 and MT5 which comes with several benefits and advantages, such as the ability to:

Access 9 different timeframes
Trade from any browser and operating system
View 38 technical indicators

Below is a screenshot of the MetaTrader 4 Web Trader platform which can be easily accessed from the HYCM client portal area but is covered in more detail in the video review:

Mobile Trading Platforms

“HYCM allows users to trade on the MetaTrader 4 and MetaTrader 5 mobile trading app for Android and iOS operating systems.”

HYCM allows users to trade on the MetaTrader 4 and MetaTrader 5 mobile trading app for Android and iOS operating systems. The app can be downloaded from the HYCM client portal area, from the broker’s website or from the Apple App Store or Google PlayStore.

The HYCM MetaTrader mobile trading apps provide a range of features and benefits, such as:

Access to real-time prices and quotes
Ability to trade directly from the app
View a range of timeframes and technical indicators
Manage your account and trade on the go

The HYCM MetaTrader mobile trading app is covered in more detail in the video review.

Trading Features

“HYCM provides a range of different trading calculators and access to the MetaTrader Marketplace for copy trading and algorithmic services.”

HYCM provides a range of different trading calculators such as a Pip Calculator, Currency Converter and Margin Calculator. Users can also access the MetaTrader Marketplace directly from the trading platform which provides access to copy trading and algorithmic trading services.

Commissions & Spreads

“Trading costs with HYCM vary depending on the market being traded and the account type opened but are competitive with low or raw spreads and a range of commission-free and commission-based accounts.”

Trading costs with HYCM vary depending on the market being traded and the account type opened. The Fixed and Classic accounts offer commission-free trading, whereas the Raw account offers commission-based trading with raw spreads.

	Fixed Account	Classic Account	Raw Account
Spreads	From 1.8 pips	From 1.2 pips	From 0.2 pips
Type	Fixed spreads	Variable spreads	Raw spreads
Commissions	Zero	Zero	$4 per round turn

Trading Stock CFDs are also commission-free with only spreads and swaps payable. Swap details can be found directly from the trading platform and spreads are detailed simply and transparently on the broker’s website for each instrument and account, as the example shows below:

The broker also charges an inactivity fee after 90 days of $10 per month.

Bonus & Promotions

“HYCM does not offer any bonus or promotional offers at this time, due to regulatory restrictions.”

Customer Support

“HYCM offers 24/5 support via Live Chat, Telephone, Email, WhatsApp, Skype and Telegram in multiple languages. The FAQ section in the Help Centre lists comprehensive answers and solutions to the most common queries.’’

Traders can contact HYCM 24/5 on weekdays via Live Chat, Telephone, Email and various instant messaging services. Client support is available in multiple languages such as English, Swedish, Italian, Spanish, Russian, Polish, German, Czech, French, Arabic, Traditional Chinese, Simplified Chinese, Vietnamese, Farsi.

After logging into the Live Chat feature we were greeted by an agent in just a few seconds who answered our question promptly, as shown below:

Contact Information:

Address: 18 King William Street, London, EC4N 7BP, United Kingdom
Email: support@hycm.com
Phone: +442088167812
Social Media:
- Facebook
- Twitter
- Linkedin
- Youtube

Research

“HYCM provides useful trader research tools such as an Economic Calendar, Trading Calculator, as well as live market analysis in its News and Market Outlook section and through its live webinars.’’

HYCM provides a range of useful trader research tools. The News section provides up to date analysis on market-moving events affecting a range of different markets. The Market Outlook section also provides analysis on a range of different markets, mainly focused on the major currencies, gold, silver and crude oil.

Users can also access live market analysis and online trading workshops via webinars held with HYCM’s chief currency analyst, as shown below:

Trader Education

“HYCM provides a range of Trader Education tools in article and video format covering Trading Tools, MT4 Videos, Tutorials, Trading Strategies, Ebooks and Courses.’’

Users can access a range of trader educational tools covering a wide range of different topics and in different formats. This includes videos on different trading tools, MT4, trading strategies and more. There is also a beginners course which covers a variety of different topics as shown below:

Trading Experience

“HYCM provides a simple and transparent trading offering suitable for both beginner and advanced traders. Users can access commission-free trading and low spreads on a good selection of markets, as well as trade from both MetaTrader 4 and MetaTrader 5.”

From our observations, HYCM provides a simple and transparent trading offering suitable for both beginner and advanced traders. Users have access to 3 core types of trading accounts called Fixed, Classic and Raw. The first two offer commission-free trading with low spreads from 1.8 and 1.2 pips respectively and the Raw account offers commission-based trading but with raw spreads from just 0.2 pips.

Users can trade on more than 300+ financial CFD instruments across Forex, Indices, Stocks, Cryptocurrencies, Commodities and ETFs from the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for desktop, web and mobile. There are also extensive videos to help traders with these platforms and customer service is also good.

FAQ

Is HYCM regulated?

Most entities are regulated by the UK FCA, CySEC and CIMA. However, HYCM Limited is not regulated.

Where is HYCM based?

HYCM is based at 18 King William Street, London, EC4N 7BP, United Kingdom.

How does HYCM make money?

HYCM makes money mainly through spreads and swaps on certain tradable asset classes and commissions on certain trading accounts.

How do I deposit in HYCM account?

Funds can be deposited into a trading account via debit or credit card, bank wire transfer, Neteller, Skrill or WebMoney.

What is the min. deposit for HYCM ?

The minimum deposit for HYCM is 100 USD.

How do I withdraw money from HYCM ?

Withdrawals can be made from HYCM via debit or credit card, bank wire transfer, Neteller or Skrill from the My HYCM client portal area.

What is the max leverage in HYCM ?

The maximum leverage offered by HYCM Limited is 1:500 but is different depending on the region.

How do I open an account with HYCM ?

An account can be opened at the click of a button on the HYCM website and can be done in just a few steps.

Does HYCM use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“HYCM is a multi-regulated broker providing trading services since 1977 to trade on more than 300+ financial CFD instruments across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs from the globally recognised MetaTrader 4 and MetaTrader 5 trading platform.”

HYCM is part of the Henyep Group which is an international conglomerate with businesses in financial services, property, education and charity. The broker has entities authorised and regulated by the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission and the Cayman Islands Monetary Authority.

HYCM Limited, which operates www.hycm.com is an International Business Company registered in Saint Vincent and the Grenadines and as such is not regulated but does offer negative balance protection.

The broker offers three types of trading accounts called Fixed, Classic and Raw which have competitive spreads and a mix of commission-free and commission-based trading. Users are offered more than 300+ financial CFD instruments to trade on, across Forex, Stocks, Indices, Cryptocurrencies, Commodities and ETFs. The broker also offers Islamic swap-free trading accounts and demo trading accounts.

The globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for Desktop, Web and Mobile are offered by the broker. As well as a large range of trader research and education tools which includes articles, videos, live market analysis, seminars and webinars and access to 24/5 customer support in multiple languages.

Commission-free trading available.
Raw spread accounts available.
300+ financial CFD instruments to trade on.
Can trade on MetaTrader 4 and MetaTrader 5.

Official Site >

OPEN ACCOUNT

DEMO ACCOUNT

High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

Top User Reviews

4.8(5)

HYCM Overall Rating

FX Empire adheres to strict standards of user reviews editorial guidelines to help you make decisions with confidence.

Latest 4 user reviews sorted by highest rating

B

Bill Howard

Jan 17, 2021

5/5

Reliability:

5/5

Platforms:

4.0

Assets:

5.0

Support:

4.0

I have already started to learn

I can honestly admit that I started working in the market without much preparation and this, of course, was my big mistake. Because in this way, of course, I immediately lost a fairly large amount and already wanted to leave this business. But then I talked to one of the HYCM managers and this changed my attitude to trading. I started studying strategies and calculated statistics on a demo, and over time this began to bring me more accurate results, and now I already see some patterns and I know exactly what my plan of action is for tomorrow and now I am doing business, real business, which will definitely become a new perspective for me.

Y

Yeri Naidu

Mar 27, 2020

5/5

Reliability:

5/5

Platforms:

5.0

Assets:

5.0

Support:

5.0

My funds are safe

This is my first broker but I didn’t choose HYCM incidentally. For me it was important that these guys have not only CYSEC regulator license, but cared enough to get the necessary license for every other part of the world they work at. Under these circumstances I feel my funds are safe. Don’t expect to have zero slippages on the volatile markets, but they are not bad at all. I’ve consulted with fellow traders and I know now HYCM has got one of the best execution speed so slippages don’t get bad. Fees are standard.

J

John Loke

Feb 21, 2020

5/5

Reliability:

5/5

Platforms:

5.0

Assets:

4.0

Support:

5.0

I like fast-responsing support.

Changed my brokerage to HYCM, nothing strange or unexpected I didn't notice. Typical brokerage, that aims upper-intermediate market. I hope they will obtain US SEC license and will also offer their services in the US, but to trade from Europe brokerage is good now. What I like - fast-responsing support. I don't know what HYCM did to force support team to made it not the group of doodleheads, but they work really good, all my issues were resolved.

C

Carsten Carsten

Jun 09, 2020

4/5

Reliability:

4/5

Platforms:

4.0

Assets:

4.0

Support:

4.0

In fact, you can talk a lot about this company for a long time, because there is a certain variety of services.

And this is actually an unusual company move, because brokers usually concentrate on a certain direction. Here you can try yourself in classical forex, work with crypt currencies and stocks, there are also tools for this, the main thing is to look closely and choose those that you can understand well. By the way, you can also use a demo for this purpose.

Official Site >

OPEN ACCOUNT

DEMO ACCOUNT

High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

HYCM Review 2021

Review sections

HYCM Video Review

Investor Protection & Regulations

Tradable Products

Account Opening

Deposit & Withdrawals options

Web & Desktop Trading Platforms

Mobile Trading Platforms

Trading Features

Commissions & Spreads

Bonus & Promotions

Customer Support

Contact Information:

Research

Trader Education

Trading Experience

FAQ

Conclusion

Exploiting Bitcoin Opportunities with HYCM

Trade With A Regulated Broker