HYCM Review 2023 Detailed Information about HYCM Forex Broker

Overall, HYCM can be summarised as a safe broker that is fully regulated by the Financial Conduct Authority (FCA). In order to complete the Account Registration, the applicant will be required to complete a simple online registration process. Having traded since 1998, Justin is the CEO hycm review and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading.

HYCM Mobile App

HYCM also has very good conditions in terms of deposits and withdrawals. When it comes to choosing a broker, the vast majority of traders give the top priority to its reliability. A trustworthy broker needs to have sufficient experience in the field. Serious investors usually stick with respected brokerage services operating on the market for a long time. I was reluctant to entrust my hard-earned money to a young brokerage service.

Trading and Investment Tools

The broker offers clients good trading conditions, great liquidity, and low spreads and fees. Looking back at my early trading days, I recall exploring various brokerage firms to enroll in. This happened around two decades ago, and opening an account was more complex compared to these times.

HYCM MetaTrader 4 Platform Features

HYCM offer traders a range of assets to trade across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. There are 100+ instruments available to trade on the MT5 platform and 300+ on MT5. I think the instruments would be enough if you are planning on trading forex and want access to some popular stocks.

What Type of Broker is HYCM?

1. HYCM supports multiple base currencies, including USD, EUR, GBP, RUB, AED, and CAD.
2. Don’t be put off because some brokers, such as HYCM require a minimum investment to create a trading account.
3. HYCM broker ranks as a top broker on Trustpilot with a 4.5 excellent rating from 261 client reviews.
4. One of the perks of working with a highly regulated broker is the best execution policy.

HYCM has a long history of operation and is a heavily regulated Broker. We found that the account opening is easy and offers various account types while costs are low. With HYCM you can use various options to deposit or withdraw funds. The broker enables trading through the MT4 and MT5 platforms, also, it offers its own App. Like many other trusted and regulated brokers, HYCM will make the majority of their income from the added spreads and commissions, depending on your account type.

FP Markets Fees and Spreads

In some cases, depending on the type of brokerage account you choose, you may be required to make a minimum deposit as high as 6500 GBP or USD. Some brokers are willing to go as high as 10,000 GBP/USD on some exchanges. The mobile application provides you with all of your capabilities to manage your trading positions. Following the completion of the account setup process, you will begin trading.

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. In order to register, you must submit personal information about yourself, like your name, residential address, email address, etc. After email verification, you can proceed to create a demo account for yourself. Keep in mind that if you withdraw less than $300 by wire transfer, HYCM will charge you an additional $30 processing fee on top of your deposit. Fund withdrawals can be completed using the same payment methods used to make the initial deposit. Following a successful withdrawal, your funds will be sent back to the original source from which they were received.

I would say that the company lacks certain things, but it does have its advantages. On the negative side, I think there is an unfortunate distribution of account types in HYCM. For example, I don’t want to overpay for spread because of artificial conditions. It doesn’t have to widen in order for the broker to compensate for the extra costs, as it happens with a fixed spread. Of course, there are cases where for traders, this is the only possible way out.

From our experience, the cost structure is more than fair and also additional fees such as overnight fees are very reasonable. They are also transparent about their costs and don’t charge any deposit or withdrawal fees, which is a great plus as well. Minimum deposit requirements for opening a real-time trading account have decreased. This is due to a growing number of brokers competing for new customers as more and more online trading platforms have entered the market. Currently, the British Pound vs. the US Dollar (GBPUSD) trades at a fixed spread of 2.0.

I was interested in the broker, so I decided to open an account with it. And then I faced the first problem – it has quite different types of accounts. But on the broker’s website I found a test that helps a trader to choose an account. By the way, I chose a classic account, and I traded on it for several weeks. If you are looking for a trusted, beginner-friendly trading platform with more than 3,000 assets to choose from, capital.com is definitely among the best options.

This is suitable for both novice and experienced traders alike. Widely available on both Google Play and the App Store, the program offers lightning-fast trade execution, customizable account settings, and convenient in-app deposits and withdrawals. We’d also love to see HYCM extend services to traders based in the United States.

The broker will allow you to open a Demo Account on its MetaTrader 4 platform either in Euros or in US Dollars. The account will be funded with $ in virtual money, which will remain active for 14 days. Our team of experts will outline for UAE-based traders the trading conditions that come with the different account types offered by HYCM.

Lastly, Raw spread is a choice for mainly professional traders as trading fees inbuilt into the commission per round, which is $4. The main feature of Hycm is that it’s a highly reliable forex broker which is valuable especially in the forex market.However the trading conditions https://forexbroker-listing.com/ offered are average. There are multiple markets but the overall number of assets are not very big.I would say that it’s all nothing, except the commission on the Raw account. Hardly any scalper can appreciate such commission, even considered the spreads are great.

Fixed spreads, though slightly higher, ensure stability at times of heightened market volatility, while floating spreads are lower at normal times. HYCM fixed spread account requires a minimum deposit of $100. Fixed Spread Accounts are an appropriate choice for UAE retail clients who prefer to trade smaller volumes. The broker will not charge any commissions and offers fixed spreads that start as low as 1.8 pips. I was attracted by the wide range of trading instruments, I think there’s so much variety that it’s hard to keep my eyes open.

HYCM offers Islamic swap-free trading on 3 trading account levels, Fixed Islamic, Classic Islamic, and Raw Islamic. HYCM offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries. Overall, HYCM can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs). It offers 300+ trading instruments with a trust score of 90 out of 100. HYCM is fully regulated by the Financial Conduct Authority (FCA). Furthermore, traders who opt to sign up with HYCM have access to a diverse product offering including forex and a list of CFDs, from commodities to stocks and indices.