HYCM

General Information

HYCM (UK) based in London, UK, to provide investors with trading services in energy, metals, agricultural commodities, and indices.

Concerning regulation, regulatory license HYCM holds are listed below:

• HYCM Capital Markets (UK) Limited - authorized and regulated by FCA (UK) registration no. 186171

• HYCM (Europe) Ltd - authorized by CySEC (Cyprus) registration no. 259/14

• HYCM Capital Markets (DIFC) Limited - authorized by DFSA (Dubai) registration no. F000048

• HYCM Ltd - authorized by CIMA (Cayman Islands) registration no. 1442313

• HYCM Limited - authorized by FSC (SVG) registration no. 25228 (IBC 2018)

Pros & Cons of HYCM

HYCM is a well-established, highly regulated Broker with many years of experience. Money can be deposited or withdrawn using a number of convenient methods, and creating an account is simple and inexpensive. Additionally, HYCM provides high-quality educational resources and research.

Negative aspects include proposal variation depending on the entity, lack of round-the-clock service, and the exclusive use of the MetaTrader trading platform.

Market Instruments

Trading services are HYCM's forte; among the more than one hundred available financial instruments are foreign exchange, metals like gold and silver, energy goods like oil and gas, commodities, indices, and stocks. In addition, HYCM is always broadening the instruments it provides, and today you can choose from many different types of Cryptocurrencies.

Account Types

There are three different kinds of HYCM accounts. There are a few distinct account types, including Fixed, Classic, and Raw Spread Accounts. Trading with HYCM is commission-free because it employs either a fixed spread (Also check fixed spread forex brokers) or variable spread model with a little higher spread. Raw spread is provided by interbank spread starting at 0 pips with a commission every trade, and the spread on a Classic account can vary. But the restrictions in each jurisdiction can affect trading accounts and the terms you're offered.

Fixed – fixed spreads from 1.8 pips, $100 minimum deposit.

Classic – variable spreads from 1.2 pips, $100 minimum deposit.

Raw – spreads from 0.2 pips plus $4 commission each way, $200 minimum deposit.

Leverage

Actual HYCM leverage may vary by trading account's compliance with local regulations. This means that the leverage levels and trading conditions that apply to you will vary depending on where you call home because each country has its own set of rules and laws.

Dubai and CIMA accounts are set at 1:500.

For European and British Traders: 1:30

High leverage of up to 1:500 paves the way for smaller retail traders by allowing them to cover margins with a much smaller initial deposit, albeit this maximum is permitted only for Dubai accounts and those that comply to CIMA (Cayman Islands).

European ESMA law, which just capped leverage at 1:30 for Forex products, will apply to the rest, and the vast majority of HYCM accounts.

Spreads & Commissions

HYCM's spreads change based on the sort of account that's opened. Rates for trading EUR/USD are 1.8 pips for Fixed accounts, 1.4 pips for Classic accounts, and 0.2 pips for Raw accounts, respectively.The commission for currency exchange and select commodities trading on Raw Accounts is $4 each round.

Trading Platform Applied

MetaTrader 4 and MetaTrader 5 are both available at HYCM. MetaTrader 4 is the worlds most popular trading platform used by traders, it is available for download on Desktops, iOS and Android devices, which ensures that traders can commence trade from right around the world. MetaTrader 5 is the newer and more improved version of MetaTrader 5 which, in addition to base provisions covered by MetaTrader 4, also provides: additional timeframes and services, 21 different timeframes, 6 types of pending orders, an economic calendar which is integrated.

Deposit & Withdrawal

HYCM supports deposit and withdrawal methods by debit card (minimum deposit of USD 700), VISA/MASTERCARD credit card (minimum deposit of USD 700), and bank transfer (minimum deposit of USD 700), all without deposit fees. Debit card withdrawals with a minimum amount of $20 are subject to a $30 processing fee and take 3 to 5 business days to process. Credit card withdrawals are subject to a minimum amount of $20, a $0 or $30 processing fee, and a processing time of 3 to 5 business days. The minimum withdrawal amount is $300 by bank transfer, with a $0 or $30 processing fee and a processing time of 7 to 10 business days.

Customer Suppport

HYCM's service desks, which provide support in multiple languages around the clock, can answer any questions or concerns you may have. Despite only being open during business hours, customer care is quick to respond and easy to get in touch with via live chat, international phone lines, email, etc.

Educational Resources

An additional great feature of HYCM is its comprehensive educational resources that provide you with the know-how you need to become a successful trader. Technical analysis and market analysis with tutorials, MT4Videos, and other crucial data are also available, as are Trading Courses, frequently scheduled Webinars, and seminars in a variety of places. If you couple this with the right training and research resources, you have an excellent shot at being a successful trader.