HYCM Review
Key Facts
Regulation
FCA · DFSA · CIMA
Broker Type
Market Maker, STP, ECN
Min. Deposit
$20
Platforms
Mobile App, Web Platform, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Fees
Low
Max Leverage
1:30 (FCA), 1:500 (DFSA), 1:500 (CIMA)
Demo Account
Yes
Inactivity Fee
-
Our Ratings
4.0
out of 5
Safety & Regulation4.6
Fees & Costs4.5
Platforms & Execution4.1
Education2.0
73% of retail FX and CFD accounts lose money.
HYCM - At a Glance
Company & Overview
- Headquarters
- 10th Floor, Nine Queens Road Central, Hong Kong.
- International Offices
- United Kingdom, Hong Kong, Kuwait, Cayman Islands, Dubai, Cyprus
- Broker Type
- Market Maker, STP, ECN
- Regulation
- FCA (United Kingdom), DFSA (United Arab Emirates), CIMA (Cayman Islands)
- Segregated Client Funds
- Yes
- Negative Balance Protection
- Yes
- Languages
- English, Arabic, Chinese, Czech, German, Spanish, Farsi, French, Swedish, Italian, Polish, Russian, Vietnamese
- Customer Support
- Live Chat, Email, Telephone
Account Types
- Demo Account
- Yes
- Swap Free Account
- Yes
- Joint Account
- Yes
- Managed Account
- No
- PAMM / MAM Trading
- Yes
- Social / Copy Trading
- No
Account Conditions
- Minimum Deposit
- $20
- Payment Methods
- Bank Transfer, Debit Cards, Credit Cards, Skrill, Neteller, WebMoney, UnionPay, Interac
- Account Currencies
- EUR, USD, GBP, AED, JPY
- Maximum Leverage
- 1:30 (FCA), 1:500 (DFSA), 1:500 (CIMA)
- Bonuses
- Yes
- Contests
- No
Trading Conditions
- Markets & Products
- Forex, CFDs
- Minimum Lot Size
- 0.01
- Maximum Lot Size
- 50
- Decimal Pricing
- 5 decimals
- Hedging
- Yes
- Scalping
- No
Fees & Costs
- Spread Type
- Fixed, Variable
- Spread From
- 1.5 pips (Fixed Account), 1.2 pips (Classic Account), 0.0 pips (Raw Account)
- Commission
- Fixed Account: No commission, Classic Account: No commission, Raw Account: $4 per lot per side
Platforms & Tools
- Trading Platforms
- Mobile App, Web Platform, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
- API Access
- Yes
- VPS Hosting
- No
Pros & Cons
Pros
- Strong regulatory framework.
- Established in 1977 with a strong track record.
- Segregated client funds.
- Wide range of global market access through CFDs.
- Fast and simple account setup process.
- Free demo account available.
- Negative balance protection.
- Low minimum deposit (from $20).
- Multiple fast and secure payment methods.
- Multiple account currency options.
- No deposit or withdrawal fees.
- User-friendly mobile platform.
- Supports TradingView, MetaTrader 4, MetaTrader 5
- Multiple account types for different trading styles.
- Islamic swap-free accounts available.
- Low forex and CFD trading fees.
- Ultra-low spreads from 0.0 pips on the Raw account.
- High leverage trading capability (up to 1:500 in some regions).
- Great customer support service,
Cons
- Product offering is limited to forex and CFDs.
- No TradingView or cTrader integration.
- An inactivity fee after 90 days of account inactivity.
- Limited advanced tools for professional traders.
- Does not allow scalping.
- Limited account currency options.
- Research tools are fairly basic.
- No integrated social and copy trading features.
- Educational content is limited.
