HYCM Review
Overall Rating
4.0 / 5
Fees
4.5 / 5
Safety
4.6 / 5
Platforms
4.1 / 5
Education
2.0 / 5
Min. deposit
$20
HYCM — At a Glance
- Regulation
- FCA (United Kingdom), DFSA (United Arab Emirates), CIMA (Cayman Islands)
- Broker Type
- Market Maker, STP, ECN
- Minimum Deposit
- $20
- Payment Methods
- Bank Transfer, Debit Cards, Credit Cards, Skrill, Neteller, WebMoney, UnionPay, Interac
- Account Currencies
- EUR, USD, GBP, AED, JPY
- Assets Offered
- Forex, CFDs
- Trading Platforms
- Mobile App, Web Platform, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
- Demo Account
- Yes
- Maximum Leverage
- 1:30 (FCA), 1:500 (DFSA), 1:500 (CIMA)
- Spread Type
- Fixed, Variable
- Spread From
- Fixed Account: 1.5 pips, Classic Account: 1.2 pips, Raw Account: 0.0 pips
- Commission
- Fixed Account: No commission, Classic Account: No commission, Raw Account: $4 per lot per side
- Decimal Pricing
- 5 decimals
- Minimum Lot Size
- 0.01
- Maximum Lot Size
- 50
- Swap Free Account
- Yes
- Managed Account
- No
- PAMM / MAM Trading
- Yes
- Joint Account
- Yes
- Social / Copy Trading
- No
- Hedging
- Yes
- Scalping
- No
- One Click Trading
- Yes
- OCO Orders
- Yes
- Trailing Stop Loss
- Yes
- API Access
- Yes
- VPS Hosting
- No
- Bonuses
- Yes
- Contests
- No
- Headquarters
- 10th Floor, Nine Queens Road Central, Hong Kong.
- International Offices
- United Kingdom, Hong Kong, Kuwait, Cayman Islands, Dubai, Cyprus
- Languages
- English, Arabic, Chinese, Czech, German, Spanish, Farsi, French, Swedish, Italian, Polish, Russian, Vietnamese
- Customer Support
- Live Chat, Email, Telephone
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.