HYCM.com Review

HYCM Review -STP Broker

RATING FORMULA 5.0 SCORE

According to the Forex Rating Formula v5.0, HYCM has performed 72.1%.

HYCM COMPANY INFORMATION

■ Broker Type: STP Forex Broker offering CFD Trading

■ Years in the Market: HYCM Foundation in 1999

■ HYCM Main Offices: Main offices in London UK, other offices in the Middle East and Asia

■ US Traders: Not allowed by HYCM –NO-

■ Islamic Accounts: HYCM provides Islamic accounts –YES-

■ HYCM Regulation: HYCM is regulated by FCA UK, MiFID (EU)

■ HYCM Customer Service: Fast 24/5 service via Live Chat, Phone, and eMail

■ HYCM Languages: Multilingual Support: English, Arabic, Chinese, and Rusian

HYCM TRADING INFORMATION

■ Forex Execution: STP Execution (GMT server time)

■ Other Instruments: Precious Metals and CFDs (Indices, Stocks, Commodities, Energy)

■ HYCM Asset Index: HYCM offers 32 Fx Currencies plus other financial assets via CFD contracts

■ Spread on EUR/USD: The minimum spread on EUR/USD at Pro Accounts starts at 0.5 pip but in other account types starts at 1.8 pips

■ HYCM Trading Commissions: No commissions on all basic account types. Trading commissions charged only in Pro accounts.

HYCM TRADING PLATFORMS

HYCM is offering a very good variety of Trading Platforms that include desktop and mobile trading:

■ HY MetaTrader-4 plus MetaTrader-4 Web

■ HY Web-Trader

■ HY Pro Trader CurreneX

■ Mobile Trading for iPhone and Android

■ Demo account is available

■ Automated Trading and Hedging are available

■ Other features One-Click-Trading, Free Analysis

HYCM ACCOUNT INFO

■ Leverage: Leverage at HYCM up to 300:1 for most account types (200:1 Pro Accounts)

■ Hedging / Scalping: Scalping is forbidden, Hedging is allowed

■ Automated Trading: –YES-

■ Bonus: HYCM offers Welcome Bonus 10% (any amount)

■ Minimum Account: The minimum account is just 50 USD.

■ Deposit Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, PayPal

■ Withdrawal Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, PayPal

HYCM ACCOUNT TYPES AND INFORMATION

REVIEWING HYCM: CONCLUSION & RATING

HYCM Overview

HYCM is a well-known retail STP Forex broker owned by the Henyep Group, a financial institution established in 1978. The firm is headquartered in London, UK, with additional offices in the UAE and Hong Kong. HYCM is regulated by the UK’s FCA and complies with the European MiFID directive. Furthermore, it offers segregated client bank accounts in major UK banks, ensuring a high level of fund security.

HYCM Technology

HYCM provides access to 32 currency pairs along with CFDs on stocks, commodities, metals, and energy. The broker offers four desktop platforms and two mobile trading apps. HY WebTrader, a user-friendly web-based platform, is ideal for beginners and supports direct order execution, live tradable charts, and basic charting and technical analysis tools. In addition, HYCM supports two versions of MetaTrader 4 and the Pro Currenex Trader platform, which caters to professional Forex traders. The broker allows automated trading and hedging, but scalping is not permitted.

Cost of Trading

HYCM offers competitive trading conditions, particularly for the Pro Account. This account type features spreads starting at 0.5 pips (EUR/USD), alongside a commission fee. Other account types are commission-free, with spreads starting at 1.8 pips (EUR/USD).

HYCM Account Types

HYCM offers a wide range of account types. Traders can begin with a demo account to test their skills. There are four main live account types: Mini, Standard, Premium, and Pro. Each account is designed to meet different trading needs. The Mini Account requires a minimum deposit of $50 and supports a lot size of 0.02. The Standard Account starts at $750 with a lot size of 0.1. The Premium Account requires $2,500, and the Pro Account—which offers access to Currenex and tighter spreads—requires a $5,000 minimum deposit. Maximum leverage is 300:1 for all accounts except the Pro Account, which offers up to 200:1.

HYCM Customer Service

HYCM provides 24/5 customer support via live chat, email, and phone. They also offer a Personal Dealer Service, which assigns traders a dedicated personal advisor.

Deposits

HYCM supports multiple funding and withdrawal options, including Visa, MasterCard, bank wire, PayPal, WebMoney, and MoneyBookers.

HYCM – Final Conclusion

The primary strengths of trading with HYCM are its reliability and the strong protection of trading capital. The broker demonstrates a high level of technical performance and offers numerous options for Forex traders. Trading conditions are fair—especially for Pro Accounts. The main drawback is the restriction on scalping, which may not suit certain types of day traders.

■ Reviewing HYCM -is HYCM.com a Scam?

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