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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.

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HYCM Review 2021

Updated: By
FX Empire sticks to a strict review standards.Learn how we make money and our review methodology.
HYCM Main Features
☑️
Regulations
FCA (United Kingdom), CySEC (Cyprus), CIMA (Cayman Islands), SVGFSA (Saint Vincent and the Grenadines)
️🗺
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Italian, Polish, Farsi, Swedish, Vietnamese, Czech
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Futures
️💵
Min Deposit
$100
💹
Max Leverage
1:500 (FCA), 1:500 (CySEC), 1:500 (CIMA), 1:500 (SVGFSA)
🖥
Trading Desk Type
Dealing Desk, Market Maker
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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 Full Review

“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.

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review sections


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:

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.
broker

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.

See HYCM Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
United Kingdom
Foundation Year
1977
Regulations
FCA (United Kingdom), CySEC (Cyprus), CIMA (Cayman Islands), SVGFSA (Saint Vincent and the Grenadines)
Publicly Traded
No
Number Of Employees
200+
Trading Desk Type
Dealing Desk, Market Maker
Trading platforms
MT4, MT5
Restricted Countries
United States, Belgium, Japan, Afghanistan, Hong Kong
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Italian, Polish, Farsi, Swedish, Vietnamese, Czech
Min Deposit
$100
Max Leverage
1:500 (FCA), 1:500 (CySEC), 1:500 (CIMA), 1:500 (SVGFSA)
Deposit Options
Wire Transfer, Credit Card, PayPal, Cryptocurrencies, Skrill, Neteller, Webmoney, Moneybookers, Paytrust88, PerfectMoney, FasaPay
Withdrawal Options
Wire Transfer, Credit Card, PayPal, Cryptocurrencies, Skrill, Neteller, Webmoney, Moneybookers, Paytrust88, PerfectMoney, FasaPay
Cryptocurrencies
Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Bitcoin, NEO, Litecoin, Qtum, Zcash, Ripple, Monero, Dash, Ethereum, IOTA
Fixed Spreads
Yes
Commission On Trades
Yes
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Futures
Mini Account
No
Premium Account
Yes
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
Institutional Account
Yes
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