HYCM Review 2023 – Pros and Cons

UPDATED ON :

HYCM (formerly known as HY Markets) is a forex broker that was founded in 1977 and is headquartered in London, UK. It is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).

HYCM offers a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. The broker provides its clients with the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are popular among traders due to their advanced charting tools and automated trading capabilities. HYCM also offers its own proprietary trading platform, HYCM Mobile, which is optimized for mobile devices.

HYCM is known for its strong customer support and education resources. The broker offers a range of educational materials, including webinars, seminars, and trading guides, to help its clients improve their trading skills. Additionally, HYCM provides its clients with 24/5 customer support via phone, email, and live chat.

HYCM

Brokers Name

HYCM

Regulation

FCA, CySEC, DFSA, CIMA

Established

1977

Headquarters

United Kingdom

Trading Desk

Market Maker

USA Clients

no

24H Support

Yes

Weekend Support

no

Website Language

Swedish, English, Polski, Deutsch, Czech, French, Arabic, Italiano, Spanish, Russian, Vietnamese

Account Details

Accounts

Fixed, Classic, RAW Account

Min. Deposit

$100

Base Currencies

EUR, GBP, USD, AED, RUB

Leverage

1:500

Spreads

1.5 pips

Fixed Spread

Yes

Margin Call / Stop Out

100% / 20%

Trading Platform

MT4, MT5

Trading Instruments

Commodities, Stock CFDs, Forex, Indices

Pros

  • Well-regulated forex broker
  • Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
  • MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms
  • Strong customer support and education resources

Cons

  • Limited range of account types
  • Limited deposit and withdrawal options compared to other brokers
  • Inactivity fee for dormant accounts

Trading Features

Commission

Yes

Mini Accounts

no

Standard Accounts

Yes

VIP Accounts

no

Pro Accounts

Yes

Islamic Accounts

Yes

Segregated

no

Managed Accounts

no

Demo Accounts

Yes

Trading Services

Hedging

Yes

News Trading

Yes

Scalping

Yes

Automated Trading

Yes

Trading Signals

no

Educational Service

Yes

Copy Trading

no

Mobile Trading

Yes

Trading Markets

Indices

Yes

Forex

Yes

CFDs

Yes

Commodities

Yes

ETFs

Yes

Stocks

Yes

Bonds

Yes

Crypto

Yes

Funding

Deposit

Bank Transfer, Visa, MasterCard, Skrill, Neteller, PerfectMoney, Bitcoin

Withdrawal

Bank Transfer, Visa, MasterCard, Skrill, Neteller, PerfectMoney, Bitcoin

Contacts

Phone

+44 208 816 7812

Email

support@hycm.com

Address

27-28 Clement’s Lane, St Clement’s House London EC4N 7AE United Kingdom

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