In this Forex broker review, we turn our focus on HYCM Capital Markets. We will examine HYCM regulation, trading platforms, product range, and trading fees. We will also look into its trading features, and evaluate the HYCM on several aspects such as spread, account types, leverage, deposit and withdrawal methods. So let’s start this HYCM review.
Founded in 1977, HYCM is one of the oldest Forex brokers in the industry. It offers hundreds of financial instruments from various asset classes, including Forex, commodities, indices, and stocks.
HYCM has introduced a range of powerful trading tools and platforms, including the popular MT4 and MT5 platforms. HYCM also distinguishes itself from its competitors by offering quality trading educational. Its educational resources cater to the needs of both beginner and experienced traders alike.
HYCM BROKER REVIEW
HYCM is regulated by multiple financial authorities, including the UK’s Financial Conduct Authority and Cyprus Securities and Exchange Commission (CySEC). The FCA is a Tier 1 Regulator that imposes strict rules and regulations on companies that it oversees.
In addition to HYCM’s FCA and CySEC regulations, It is also regulated in Dubai by the Dubai Financial Services Authority (DFSA) and in Cayman Island by the Cayman Islands Monetary Authority (CIMA).
|UK||Financial Conduct Authority (FCA)|
|Cyprus||Cyprus Securities and Exchange Commission (CySEC)|
|Dubai||Dubai Financial Services Authority (DFS)|
|Cayman Islands||Cayman Islands Monetary Authority (CIMA)|
HYCM Capital Markets offers three distinct account types. Each account type is tailored to meet specific trading requirements.
1- Fixed Account
2- Classic Account
3- RAW Account
The Fixed account features fixed spreads starting from 1.5 pips. It’s a commission-free account and the minimum deposit requirement to open this account is $1000.
Similar to the Fixed account, the classic Account also has a minimum deposit requirement of $100. However, the Classic Account comes with variable spreads starting from 1.2 pips and it’s also a commission-free account.
The spread on the Raw Accounts starts from as low as 0.1 pips. Unlike the Fixed and classic accounts, HYCM charges a $4 commission per lot on Raw accounts. The minimum deposit requirement of the Raw Account is $2000. Raw account holders can also use expert advisors.
HYCM broker does not have its own trading platform. Instead, it offers two of the world’s most popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Meta platforms are powerful and user-friendly and include a wide range of tools to enhance trading efficiency. HYCM Meta traders are also available for desktop and mobile devices.
In addition to the standard features of Meta platforms, HYCM Capital Markets provides additional tools and features, including free VPS hosting. It also allows traders to run EAs 24/7 without having a dedicated server.
|Mobile Platform (Android/IOS)||Yes|
HYCM BROKER REVIEW
HYCM Capital Markets offers a range of leveraged financial products for trading, including Forex, commodities, indices, CFDs on stocks, and other products. Leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the potential risks.
The amount of leverage depends on several factors, including the trading instrument and the account type. For Forex trading, HYCM provides leverage of up to 1:200 for Standard accounts, and up to 1:500 for VIP accounts. For commodities and indices trading, the leverage is up to 1:200, while the maximum leverage for cryptocurrencies is up to 1:20.
HYCM has a diverse range of financial products including Forex, commodities, indices, CFDs on stocks, and cryptocurrencies. Forex trading is a key focus of the broker allowing traders to access all major, minor, and exotic currency pairs. In addition to Forex, HYCM also offers trading in CFD commodities and metals, such as gold, silver, and oil.
There is also an extensive range of global indices, including the S&P 500, the FTSE 100, and the DAX 30. CFDs stocks of major companies, including Apple, Amazon, and Microsoft makes a big portion of HYCM products.
Finally, HYCM also offers several crypto currencies including Bitcoin, Ethereum, and Litecoin. Overall, HYCM Capital Markets product range is very extensive.
Trading cost plays a vital role in any trader’s success. HYCM has competitive spreads and reasonable commissions rates. The spread on major currency pairs starts from 0.2 pips. The commission varies depending on the account type and trading volume. The standard commission rate on currency trading is $4 per lot.
On stocks and commodities , HYCM charges a commission based on the trade value. The commission can vary depending on the instrument and account type, but it is typically a small percentage of the trade value.
On cryptocurrencies, HYCM charges a spread on the bid and ask price, which can vary depending on market conditions. As with forex trading, there may also be a commission charged on cryptocurrency trading, which can vary depending on the account type and trading volume.
Overall, HYCM’s pricing structure is competitive and transparent, with clear information provided on spreads and commissions for each trading instrument.
|Forex||0.7 - 1.2|
|Commodities||0.3 - 2.5|
|Indices||1 - 2.0|
HYCM broker provides a range of deposit and withdrawal methods. It includes bank transfers, credit/debit cards, and electronic payment methods such as Skrill, Neteller, and WebMoney.
In addition to traditional payment methods, HYCM also accepts cryptocurrency deposits and withdrawals. Traders can fund their accounts using Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Cryptocurrency deposits are processed within 24 hours, while cryptocurrency withdrawals can take up to 48 hours to be processed. Please note cryptocurrency transactions may be subject to additional fees and charges.
Withdrawals from HYCM can be made using the same payment method used for the deposit. Withdrawals are processed within 24 hours. However, the exact processing time may vary depending on the payment method used. HYCM does not charge any withdrawal fee.
Overall, HYCM’s deposit and withdrawal methods are designed to be convenient and flexible. The addition of cryptocurrency deposits and withdrawals further expands the range of payment options.
OUR TAKE ON HYCM CAPITAL MARKETS
Based on this HYCM review, we can conclude that HYCM is a credible broker. It has a decent range of products. It is regulated and regarded for its transparency and client protection. It provides tight spreads and low commissions across a range of trading instruments. Moreover, It also offers a variety of account types to cater to different types of traders.
On the downside, HYCM does not offer a proprietary trading platform. However, the Meta platforms are highly regarded for their user-friendly interface and comprehensive charting tools. Additionally, the Meta Traders mobile app is also ideal for staying connected and trading on the go.
HYCM’s commitment to client education and support is also a bright feature. It presents quality educational resources and tools to help new and experienced traders alike.
HYCM Capital Markets customer support lives up to the standard. Overall, HYCM is an reasonable choice for both novice and experienced traders.
HYCM BROKER REVIEW
Taking a closer look at HYCM’s Pros and Cons, HYCM offers multiple products from different asset classes under one trading platform. It is multi-regulated and provides comprehensive educational resources to improve trader’s knowledge and skills. Moreover, the low minimum deposit requirement makes it accessible for traders with different budgets.
On the negative side, HYCM does not offer a proprietary trading platform. It also does have the copy trading feature which is certainly a drawback for many traders.
|Multi Asset||No Copy Trading|
|Multi Regulated||No Proprietary Platform|
|Low Minimum Deposit|
|Huge List of Instruments|
HYCM BROKER REVIEW
HYCM was founded in 1977.
Yes, HYCM is regulated by multiple authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Dubai Financial Services Authority (DFS) in Dubai, and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands.
The minimum deposit requirement for HYCM is $100.
No, social trading is not available with HYCM.
HYCM offers MT4 and MT5 trading platforms. It does not have a proprietary platform.
Yes, HYCM offers crypto trading.
Yes, HYCM allows deposits using cryptocurrencies.
HYCM offers 3 types of accounts: Fixed Account, Classic Account, and Raw Account.
Yes, HYCM allows Expert Advisors on all account types: Fixed, Classic, and Raw accounts.
The spread on HYCM varies depending on the type of account. For the Fixed Account, the spread starts from 1.5 pips. On the Classic Account, it starts from 1.2 pips. For the Raw Account, the spread starts from 0.1 pips.
HYCM does not charge a commission on the Fixed and Classic accounts. However, on Raw accounts, it charges a commission of $4 per lot (round turn).