I’ve been working with HYCM for almost a year and a half now.In fact, I knew right away that I would love to trade with this broker and that we would quickly work together. A broker has as many as 3 different account types, which is quite unusual. But what is more, the trading conditions on each account are different and it is very easy to get confused. Based on a few questions about your trading, you are offered a more or less suitable account type. By the way, personally, I got a classic account according to the test results, and I still trade on it, because it suits me perfectly. So, even after a year and a half, the broker couldn’t disappoint me, and this fact speaks for itself.

It offers 300+ trading instruments with a trust score of 90 out of 100. HYCM is fully regulated by the Financial Conduct Authority (FCA). MetaTrader platforms are widely known for their user-friendly interface, comprehensive charting tools, and automated trading capabilities, making them a popular choice among retail and advanced traders. HYCM has also garnered recognition through industry awards and actively participates in social initiatives, including sponsorships and community events, further enhancing its reputation. HYCM is rightfully considered one of the leaders among Forex brokers and at the moment shares more than 40 years of experience in the market. The broker is a member of the Henyep Group, the international financial holding company established in 1977 with headquarters in London, UK operating in financial services, education, and real estate.

How does HYCM make money from you?

When opening a trading account with HYCM, a minimum deposit of 100 GBP/USD/EUR must be made. For license approval, brokerage firms must adhere to some norms and criteria set forth by a recognized international organization to guarantee secure trading and remain licensed. The goal of regulation is to safeguard HYCM traders and create a secure trading environment. The importance of license approval and financial regulation cannot be overstated. – In this review, we will give you a detailed overview of the broker.

I’ve withdrawn funds about a dozen of times and each time the money arrived with no delays or further questions from HYCM stuff. Withdrawals take a day or two to complete depending on the method you choose. I got interested in trading a few years ago, but I didn’t immediately decide to start trading.

Swap-Free Account Fees

Still, HYCM’s robust features and focus on security make it a trustworthy broker for serious traders. HYCM equips traders with tools to enhance their trading experience. These tools are essential for making informed decisions and optimizing strategies, from tracking economic events to calculating pips and managing margins. Check your bank account, e-wallet, or crypto wallet for the transferred funds. For withdrawals above $300 via bank transfer, no fees are charged.

Yes, HYCM provides Islamic accounts that comply with Shariah law. These accounts are swap-free for up to 14 days, after which fixed administrative fees are applied based on the asset or currency being traded. HYCM provides various bonus options to incentivize both new and existing traders. While attractive, these bonuses come with specific conditions, such as trading volume requirements and restrictions on withdrawals. Be sure to read the terms carefully to fully understand how to make the most of these promotions. HYCM keeps client funds segregated from its operational accounts to ensure their security.

Testing HYCM’s Customer Support

I can’t say that I’m particularly enthusiastic about the company. 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.

Stock CFDs

This is notably different from competing brokers, who often only disclose the calculations they use. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. The HYCM website has a number of tools that many traders may find useful. These trading tools can be an excellent supplement to those currently included in the trading platform. They have the potential to improve market analytical skills as well as overall trading efficiency. HYCM offers various payment methods but makes transactions easy for its clients by not charging any deposit or withdrawal fee.

Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how HYCM scored in each of our high-priority categories.

These trading tools can complement those already built into the trading platform very well. They can increase market analysis capabilities and overall trading efficiency. MT4 utilises advanced technology to provide a powerful and flexible trading solution for all types of traders. MT4 is available on desktop (Windows / MAC), web and mobile (iPhone / iPad / Android / Tablet). I have to admit that their iOS app is definitely way more user-friendly than their android one.

These videos are all available from the HYCM website, and there is no need to log in to your account to access them. As such, all clients can view the videos, as can anyone who is contemplating opening an account. The recent news section also includes some expert technical analysis. Most of the posts include detailed charts that include trend lines and other indicators drawn into place, as well as the use of specific figures.

• Top stories, top movers, and trade ideas delivered to your inbox every weekday before and after the market closes.
• Swap rates are transparently displayed on the trading platforms, ensuring traders have full visibility of potential overnight costs.
• You’ll then get access to the trading platform with your login credentials.

• By the way, when I was making a decision to join this company, I didn’t know enough about this broker.
• In addition to being regulated in multiple jurisdictions, they have an operating history of more than 40 years.
• Overall, I think HYCM are a solid choice for anyone who is looking to trade in a regulated environment with a well-established broker.
• It is possible to access all of the features on the mobile applications, including trading, funding, verifying your account, and contacting support.
• The timely broker provides professional services to traders while being strictly regulated and respected by them.

This review of HYCM covers key facts about the broker for clients in and discusses major advantages and disadvantages. The Economic Calendar is vital for traders to keep up with major market-moving events. HYCM allows withdrawals via Bank Transfer, VISA/Mastercard, E-wallets, Crypto, and regional payment methods like AstroPay, PayTrust, and Fasapay. Withdrawals must be made using the same method as the deposit to comply with security protocols. For Raw accounts, HYCM charges a commission ranging from $0 to $5 per round turn, depending on the instrument.

Commodities

The timely broker provides professional services to traders while being strictly regulated and respected by them. Also, each broker has its own set of withdrawal restrictions that limit how you can get money out of your account. This is because each brokerage business will have varied withdrawal options. Each issuing bank may charge different transfer processing costs, have varying processing timeframes, and charge a currency conversion fee. The broker sets necessary minimum deposit requirements, which are often required to qualify for an ECN account at other competitive brokers. We might have understood the broker’s plan if they had offered lower funds with less demanding trading criteria.

It includes the range of trading platforms, account hycm review tiers, list of CFD products offered, customer service, demo accounts, and regulatory status. HYCM offers three live accounts which are suitable for beginners and more experienced traders. HYCM has a limited but diversified product portfolio of over 300 trading instruments.