HYCM: Your #1 Destination for Online Trading
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HYCM Review
HYCM is a UK forex broker. It’s known as HY Markets in the past. HYCM is part of the Henyep Group. The Henyep Group is a big company who has more than 40 years of experience in the financial services industry. The base of HYCM is in London. But it’s also represented in other countries like Cyprus, Kuwait, Hong Kong, and UAE.
They got over 25 group awards of excellence. And, what traders like, there are over 300 trading instruments available. Simply, this is a very serious broker worth checking out.
HYCM Pros and Cons
- Over 300 trading instruments available
- Award winning broker
- Regulated by FCA, DFSA
- A good broker to variety of assets
- Social trading is not available
- UInactivity fee
Is HYCM Secure?
HYCM is authorised and regulated by FCA and DFSA. It exists for over 40 years, which these two make it a secure place to trade on.
Markets and Products
Forex
| AUDCAD | AUDCHF | AUDJPY | AUDNOK | AUDNZD |
| AUDSEK | AUDSGD | AUDUSD | CADCHF | CADJPY |
| CHFDKK | CHFJPY | CHFNOK | CHFPLN | CHFSGD |
| EURAUD | EURCAD | EURCHF | USDJPY | USDMXN |
| USDNOK | USDPLN | USDSEK | USDSGD | USDZAR |
| ZARJPY | GBPSGD | GBPUSD | HKDJPY | GBPZAR |
| NOKJPY | NOKSEK | NZDCAD | NZDCHF | NZDJPY |
| GBPSEK | GBPPLN | GBPNZD | GBPNOK | GBPNOK |
| GBPDKK | GBPCHF | GBPCAD | GBPAUD | EURUSD |
| EURSGD | EURSEK | EURPLN | EURNZD | EURNOK |
| EURMXN | EURJPY | EURHUF | EURHKD | EURGBP |
| USDINR | USDHUF | USDDKK | USDCZK | USDCHF |
| USDCAD | SGDJPY | SEKJPY | NZDUSD | NZDSGD |
CFD Stocks
| 3M Company | AIG | AT&T | Adobe | Akamai |
| Akamai | Alibaba | Allstate | Alphabet | Altria |
| Autohome | Bank of NewYork | Apple | Best Buy | BlackRock |
| Boeing | CVS Health | Charles Schwab | Chevron | Cisco |
| Citigroup | Coca Cola | Costco | Discover Financial | Dollar Tree |
| Mastercard | Match Group | Metlife | Moodys | NRG Energy |
| Paypal | PNC Financial | Nike | Oracle | Netflix |
Indices
| Index CFD | Euro 50 Index | GER40 | Germany 40 Index CFD | Hong Kong 50 |
| China H-Shares | EUR50 | Italy 40 Index | FRA40 | France 40 Index CFD |
| US100 | US30 | US500 | China 300 Index CFD | AUS200 |
| US 30 Index | UK 100 Index | US 100 Index | UK100 | Japan 225 Index |
| SPA35 | Shanghai 50 Index | Spain 35 Index |
Commodities
| BRENT CFD | COCOA CFD | COFFEE CFD | COPPER CFD | COTTON CFD |
| GOLD EURO | NATGAS CFD | PALLADIUM | PLATINUM | SILVER EURO |
| SPOT GOLD | SPOT SILVER | SUGAR CFD | US OIL CFD |
Cryptocurrencies
| BTCUSD | SOLUSD | ETHUSD | LTCUSD | XRPUSD |
| BCHUSD | DSHUSD | XMRUSD | XMRUSD | NEOUSD |
| ZECUSD | EOSUSD | TRXUSD | ADAUSD | ATOMUSD |
| DOTUSD | LNKUSD | XTZUSD | YFIUSD | UNIUSDT |
| AVEUSD | AVXUSD | CRVUSD | ENJUSDT | GALAUSDT |
| GRTUSD | SANDUSDT |
HYCM Fees and Charges
HYCM wants to be as transparent as possible. Only the Raw spread account has $4 per round turn commission. Other two don’t have any fees and commissions.
HYCM Account Types
There are three account types to choose from at HYCM.
| Account type | Fixed Account | Classic Account | Raw Spread Account |
|---|---|---|---|
| Min. deposit | $20 | $20 | $20 |
| Max Leverage | 1:500 | 1:500 | 1:500 |
| Spread type | Fixed | Variable | Variable |
| Spread | From 1.5 | From 1.2 | From 0.1 |
| Swap free | Yes | Yes | Yes |
| Commission | none | none | FX:$4 per roundMetals: $5 per roundOthers: $0 per round |
How to Open an Account
Opening an account at HYCM is easy. Simply:
- Click the “Open an Account” button
- Register with your Google, Facebook, or Apple account or:
- fill in the form with the required information
Trading Platforms
You can trade on MT4 and MT5 at HYCM. These platforms are very popular. Traders like them because they are easy to use. They also support a huge range of assets.
Mobile Trading Platform
Trading on the go? HYCM’s trading app is available:
- On iPhone devices
- On Android devices
- As an Android APK file
The mobile app has all the features you have on your desktop. You can be sure you’re not missing out anything while trading on the go.
HYCM Research Tools
Regarding the research tools, HYCM offers:
- Margin Calculator
- Currency Converter
- Pip Calculator
- Economic Calendar
HYCM Educational Content
HYCM makes sure to post educational content all over their social media accounts and blog.
The beginner guides are detailed and easy to understand. Overall, the educational content of HYCM is on point.
Customer Service Overview
There are several ways you can contact HYCM customer service:
- Phone: +442088167812
- Live chat
- Client support email: support@hycm.com
- Account opening: accounts@hycm.com
- General inquiries: info@hycm.com
- Complaints: complaints@hycm.com
HYCM Deposit Methods
If you want to make a deposit at HYCM, here are the available methods:
| Method | Minimum | Processing time | Fees |
|---|---|---|---|
| Bank Wire | $20 | 1 to 7 working days | $0 |
| VISA / MASTER CARD | $20 | Up to 1 hour | $0 |
| Neteller | $20 | Up to 1 hour | $0 |
| Skrill | $20 | Up to 1 hour | $0 |
| Crypto | $20 | Up to 3 hours | $0 |
| AstroPay | $20 | Up to 1 hour | $0 |
| WebMoney | $20 | Up to 1 hour | $0 |
| Paytrust | $20 | Up to 1 hour | $0 |
| fasapay | $20 | Up to 1 hour | $0 |
| ZOTAPAY | $20 | Up to 1 hour | $0 |
| UP | $20 | Up to 1 hour | $0 |
HYCM Withdrawal Methods and Payout Times
| Method | Minimum Withdrawal | Processing time | Fees |
|---|---|---|---|
| Bank Wire | US $300 | 1 to 4 working days | $0 |
| VISA / MASTER CARD | $20 | 1 to 7 working days | $0 |
| Neteller | $20 | Within 24 hours | $0 |
| Skrill | $20 | Within 24 hours | $0 |
| Crypto | US $30 | Within 24 hours | $0 |
| AstroPay | $20 | Within 24 hours | $0 |
| WebMoney | $20 | Within 24 hours | $0 |
| Paytrust | $20 | Within 24 hours | $0 |
| fasapay | $20 | Within 24 hours | $0 |
| ZOTAPAY | $20 | Within 24 hours | $0 |
| UP | $20 | Within 24 hours | $0 |
HYCM Online User Reviews and Ratings
HYCM has a rating of 3.8 stars on Trustpilot. Most of the reviews, 56%, are five star reviews. Only 10% reviews are 1-star.
The one star reviews are mostly complaints of users that encountered issues with the document verification. It seems like they tried to photoshop their documents and got banned. Some reviews were also spam reviews.
On the other hand, most of the users praise the straightforward approach of HYCM. They like the transparency HYCM offers.
Author Opinion on HYCM
HYCM is a senior forex broker that exists long enough to prove that they’re safe, secure, and a great option to try. They’re on the top of the game, offering modern trading platforms and a lot of trading instruments for their traders. The spreads and leverages are decent. Each of the accounts has the Swap free option for Islamic trading. So basically, nobody is left behind!
If you’re a new trader, or an experienced one, or if you want to trade under the Sharia law. HYCM is for you. The positive things HYCM offers outweigh the cons. It’s simply not worth mentioning any of the cons, when the broker offers so much. On top of all this, it’s regulated by 2 authorities. A combination of a good and secure forex broker.
FAQ
Yes, you can. It’s regulated by multiple authorities.
It’s $20.
The withdrawal time depends on the payment method you choose.
HYCM takes a $4 per round turn commission on the Raw spread account.
