Since 1977, HYCM has been providing trading services to its clients across the globe, offering a range of instruments from different asset classes, including Forex, Stocks, Cryptocurrency, Indices, Metals, Energies, and other commodities. In all, there are over 300 instruments available on this broker’s platform, and they are regulated in multiple jurisdictions.
With over 40 years’ experience in the financial markets, HYCM is known for its excellent trading services, with high-speed execution, tight spreads that start from 0.2 pips, and 24/5 customer support services. Little wonder they have over 15 global awards, including Best Forex Broker in UAE 2017 and Europe 2018.
HYCM Review Introduction
In this HYCM review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including HYCM.
HYCM Platforms & Tools
HYCM provides its clients with the MetaTrader 4 and MetaTrader 5 trading platforms, which are considered the gold standard in the forex and CFD trading world. These platforms are available in desktop applications for Windows and MAC, web terminals, and mobile applications for iOS and Android devices. With their user-friendly interface and support for customizable automated trading systems, MT4 and MT5 are the most widely used trading platforms among forex traders.
The broker also provides unique tools to make trading easier for its clients. Some of the tools available to HYCM’s clients include:
- Trading Calculators, such as Pip Calculator, Currency Converter, and Margin Calculator, which helps in trade planning and management
- Economic Calendar for keeping track of market news
- Trading Central, with its technical analysis, trading signals, and market commentary
- Alpha Generation Tool, which comes from Trading Central and provides analyst opinion indicator, adaptive candlesticks, and adaptive divergence convergence signals
HYCM Research & Education
HYCM provides its clients with free educational materials, which can be useful to both new and experienced traders. These materials are in various formats including videos, articles, e-books, courses and articles and cover topics ranging from trading basics to chart analysis and trading psychology. Additionally, the broker frequently organizes online webinars and offline seminars.
HYCM Trading Account
With this broker, traders can choose from any of the four account types: Fixed Spread, Classic, Raw Spread, and VIP. All accounts adhere to the tenets of Islam, and the minimum deposit is just USD 100. The Fixed Spread and Classic accounts are free of commission charges, with spreads starting from 1.8 and 1.2 pips respectively, while the Raw Spread Account attracts USD 4 commission fee for every round trip, with spreads that start from 0.2 pips. The VIP account is more suitable for those that trade larger volumes.
If you are undecided about which account type to go for, you may take the HYCM questionnaire to help you discover the account that is the most suitable for you.
HYCM Account Funding
HYCM allows bank transfers and online payment processors, such as Neteller and Skrill. Deposits or withdrawals via bank transfers may take a few business days, unlike the online payment processors that clear payments in a few hours. Interestingly, you can open your account in Euros (EUR), Dollars (USD) or Pounds (GBP).
HYCM Customer Service
HYCM has a team of professionals who provide round-the-clock customer support services to traders all over the world, during weekdays. You can reach them via webchat, email or telephone call.
HYCM is regulated in multiple jurisdictions by some of the best financial regulators, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Security and Exchange Commission (CySEC) in the EU, and the Dubai Financial Services Authority in the UAE.
HYCM Review Summary
HYCM is a fully licensed and regulated broker that provides their clients with quality trading experiences through their multiple MT4 and MT5 trading terminals. They have different trading accounts to suit different traders’ needs and trading styles.
It is worth mentioning that some of the trading products and services in this HYCM review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the HYCM broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- 24/5 support
- Available tutorials/educational materials
- Easy funding
- MetaTrader 4 and MetaTrader 5 platforms (desktop, web, and mobile)
- Mobile trading
- Well regulated
- Multiple asset classes, including commodities, Forex, Stocks, and Cryptocurrencies