HYCM Review

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 of experience in the financial markets, HYCM is known for its excellent trading services, with high-speed execution, tight spreads that start from 0.1 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 Trading Instruments

HYCM has been offering a wide array of instruments, including Forex, Stocks, Indices, Cryptocurrencies, Commodities, ETFs, and Cryptocurrencies.

Forex

HYCM has offered a large range of currency pairs to trade. HYCM’s spreads are tight in this financial class and start from 0.1 pips while providing the maximum leverage of 1:500.

Stocks

HYCM has provided the right opportunity for you if you are looking to invest in stocks. In stocks, HYCM offers maximum leverage of 1:20 while the margins are as low as 5%.

Indices

You can gain instant access to the global equity markets with HYCM. You can clinch profits while trading the market movements in indices. 15+ most popular indices are provided on the platform to trade. A trader can enjoy maximum leverage of 1:200.

Cryptocurrencies

Trade the most volatile crypto market to make healthy profits. All major cryptocurrencies pairs like Bitcoin, Litecoin, Ethereum, and Solana are traded here. The trader can avail maximum leverage of 1:20.

Commodities

HYCM offers you trading the commodities without owning the financial instrument. The broker offers maximum leverage of 1:133.

ETFs

HYCM is no way behind in providing the platform for ETFs. The maximum leverage the broker is offering is 1:20.

HYCM Platforms

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.

MetaTrader 4

MetaTrader 4 is a comprehensive trading platform that performs almost everything. While seasoned traders can use most of the platform, newbies should also have an easy time navigating the platforms’ design. Furthermore, although customers will not have access to live customer care, they will be able to utilize a range of instructional tools and resources to help them grasp the platform as a whole.

HYCM MT4 Trading Platform
HYCM MT4 Trading Platform

Customers may automate their trades by programming expert advisors in MetaTrader 4’s proprietary coding language, one of the most beneficial features. The platform is available in over 30 languages and allows you to mimic the behavior of other successful traders. While MT4 is most often associated with forex trading, you may also use it for trades in other markets such as options and futures.

If you want to use MetaTrader 4 on your desktop, you may download and install the software on any computer that runs Mac OS, Windows, or Linux. By installing the MetaTrader 4 app, you may utilize MT4 on your Apple or Android mobile device. Both the desktop and smartphone versions of the MetaTrader 4 software are straightforward to use. While it is true that you may need to work a little to fully use some of the platform’s capabilities, it is still feasible to use both reasonably effortlessly.

MetaTrader 5

MetaTrader 5’s platform is available in desktop, web, and mobile versions. The desktop version includes:

  • Enhanced tools for price analysis
  • Trading robots or expert advisors (EAs)
  • Copy trading

The MetaTrader 5 platform employs the MQL5 programming language.

HYCM MT5 Trading Platform
HYCM MT5 Trading Platform

It can follow financial symbols 24 hours a day, copy trades, create and transmit reports, evaluate news, and even give a custom graphical interface. Because the platform includes a comprehensive development environment for creating and optimizing your own EA, you can robotize your successful trading approach.

Alternatively, you may choose from several ready-to-use EAs that can be downloaded for free from CodeBase or purchased or rented from “MetaTrader Market,” the world’s biggest shop of ready-to-use trading apps. The copy trading tool enables you to subscribe to successful trader signals, allowing you to automatically replicate all trades on your account. There are hundreds of free and premium signals accessible for demo and live accounts.

The MetaTrader 5 platform supports both the standard netting system for exchange markets such as the stock market and the options market, as well as the forex market’s hedging option system. It supports 4 execution modes: instant, request, market, and exchange execution, as well as 2 market/instant orders, 6 pending orders, and 2 stop orders. The platform lets you open up to 100 currency or stock charts at once, and the 21 timeframes enable detailed analysis of even slight price movement.

It includes 80 technical indicators and 44 analytical items, such as Gann, Fibonacci tools, geometric shapes, and different channels. MetaTrader 5 includes fundamental analysis, which tracks various economic and industrial indicators. The platform features news items from worldwide news organizations and an economic calendar. MetaTrader’s mobile trading platform is accessible on your smartphone or tablet running Android or iOS. The mobile version supports the entire range of trading functions and the ability to check account status and see trading history. Trading in forex and other financial instruments is possible using the MetaTrader 5 web platform from any browser and operating system.

HYCM Trading Tools

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 Trading Central
HYCM Trading Central

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, ebooks, 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.

Trading Tools

There is a lot to learn under the trading tools section. HYCM covers the topics like:

  • Overview of the trading market and financial instrument
  • The Trading Psychology
  • Capital Management
  • Market Analysis
  • Basic Technical Analysis
  • Advanced Technical Analysis

Tutorials

There is a comprehensive tutorial to guide you on the platforms. There are learning opportunities to gain knowledge of

  • MetaTrader Installations and Basics
  • Orders Placing and Terminal Window Usage
  • Using various types of orders
  • Adding indicators to the graph
  • Configuration Features

Trading Strategies

On the website of HYCM, there is healthy content on trading strategies; you can learn:

  • Trend Signal Strategy
  • Tunnel Strategy
  • Fractal Strategy
  • Fishing strip strategy
  • Zigzag Strategy
  • Wave Tracker Strategy
  • T-Chaser Strategy
  • Fibo Trap Strategy
  • Zoom in Strategy
  • Semi-Automatic Strategy

Ebooks

If you are interested in learning with eBooks, there is a lot for you on HYCM. You can access to:

  • Forex EBooks
  • Advanced EBooks
  • Commodities and Futures EBooks
  • CFDs and Stocks EBooks
HYCM Trading Guides
HYCM Trading Guides

Economic Calendar

With Economic Calendar provided by HYCM, you can track all the important events in the world that will happen in the next few months. Big economic giants’ financial and economic decisions impact the financial market, so it is very important to stay connected with it.

HYCM Trading Accounts

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 Regulation

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 FAQ

What is the HYCM minimum deposit?

The HYCM’s minimum deposit is $100.

Where is HYCM based?

HYCM is based in Saint Vincent and the Grenadines.

When was HYCM founded?

HYCM was founded in 1977.

What are the HYCM platforms?

HYCM offers MetaTrader 4 and MetaTrader 5 platforms.

What trading instruments does HYCM have?

HYCM offers Forex, Stocks, Indices, Cryptocurrencies, Commodities, and ETFs.

What are the HYCM deposit and withdrawal options?

HYCM offers bank wire transfer, debit/credit card, e-wallet, and cryptocurrencies as deposit and withdrawal options.

What is the HYCM leverage?

HYCM offers maximum leverage of 1:500.

What is the HYCM commission fee?

HYCM charges a commission of $4 per standard lot.

What are the HYCM spreads?

HYCM spreads start from 0.1 pips.

Does HYCM offer demo accounts?

Yes, HYCM offers demo accounts.

Does HYCM offer Islamic accounts?

Yes, HYCM offers Islamic accounts.

Does HYCM allow scalping, hedging, news trading, and automated trading?

Yes, HYCM allows scalping, hedging, news trading, and automated trading.

Does HYCM charge an inactivity fee?

Yes, HYCM charges inactivity fees of $10 after 90-days of inactivity.

Is HYCM regulated?

HYCM is regulated by FCA in the UK, 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 its clients with quality trading experiences through its multiple MT4 and MT5 trading terminals. They have different trading accounts to suit different traders’ needs and trading styles.

 

HYCM

8.6

Spreads

8.5/10

Liquidity

8.5/10

Commissions

8.5/10

Support

8.5/10

Regulation

9.0/10

Features

  • Tight spreads and low trading fees
  • Rapid trade execution speeds
  • Quick and easy account funding options
  • User-friendly MetaTrader 4 and MetaTrader 5 platforms (desktop, web, and mobile)
  • Mobile trading apps
  • Multiple asset classes, including commodities, Forex, Stocks, and Cryptocurrencies
  • Various trading accounts types and free demo accounts
  • Trading tutorials and educational materials
  • 24/5 support
  • Regulated forex brokerage firm