HYCM Broker Review

HYCM Review 2024

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Broker Info

Regulations: FCA (UK), CySEC (Cyprus), DFSA (Dubai), CIMA (Cayman Islands)
Offices: UK, Cyprus, Dubai
Countries Not Allowed: USA, Canada, etc. (check website)
Liquidity provider: Tier 1 banks
Customer Service: 24/7 Live Chat, Email, Phone
Server locations: New York, London, Frankfurt, Tokyo
Languages : 19+


Account Currency: USD, EUR, etc.
Account Types: Individual, Islamic, Swap-Free
Demo Account: Yes
Platforms: MetaTrader 4, 5, HYCM Trader (mobile)
Max Leverage: 200X
Min Trade Size: 0.01 lot


Spread: 0.2 pips
Swaps: Yes
Commission: Raw account only (depends on instrument)
Margin Call: 80%
Stop Out: 50%


Currencies: 50+
Crypto: No
CFDs: Yes (stocks, indices, commodities)
MAM: Yes
EAs/Robots: Allowed
News Trading: Allowed
Scalping: Allowed
Hedging: Allowed
Copy Trading: Available


Deposit Methods: Credit/Debit Card, Bank Transfer, E-wallets
Withdrawal Fee: Yes
Inactivity Fee: Yes
Withdrawal methods: Same as deposit
Minimum Deposit: $100
Bonus on Deposit: Yes


Education: Yes
Affiliate program: Available

In the ever-evolving world of online trading, choosing the right platform can feel like navigating a financial jungle. With an abundance of options available, it’s crucial to find a broker that aligns with your individual trading needs and risk tolerance. This HYCM review aims to demystify the platform, analyzing its features, benefits, and potential drawbacks to help you determine if it’s the right fit for your trading journey.

HYCM Review 2024

Who is HYCM and Who Should Consider Them?

HYCM, established in 1977, is a global online trading broker offering access to a variety of financial instruments, including forex, commodities, indices, and stock CFDs. Their experience and global presence make them a potential option for both beginner and seasoned traders.

Trading Platforms and Tools

HYCM provides two industry-standard platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are known for their user-friendly interface, advanced charting tools, and extensive customization options. Additionally, HYCM offers a proprietary web-based platform and a mobile app, allowing you to trade on the go from any device.

The available markets and assets encompass major forex pairs, commodities like gold and oil, popular indices like the S&P 500 and the FTSE 100, and a selection of stock CFDs. This diversity caters to traders with varying interests and risk appetites.

Account Types and Fee Structure

HYCM offers three main account types: Standard, Fixed, and Raw. The Standard account caters to beginners with commission-free trading and slightly wider spreads. Fixed accounts, as the name suggests, offer fixed spreads for increased predictability, while Raw accounts appeal to experienced traders with tighter spreads and commission-based pricing.

It’s important to note that HYCM charges an inactivity fee of $10 per month after 90 days of no trading activity.

Research and Education

While HYCM offers basic market analysis and news updates, their research tools may not be as comprehensive as those offered by some competitors. However, they compensate with a dedicated education section that includes webinars, video tutorials, and trading guides, catering to various learning styles and experience levels.

Customer Support

HYCM provides 24/5 customer support via live chat, email, and phone. They also have a comprehensive FAQ section that addresses common inquiries, offering an additional avenue for self-service.

Safety and Security

HYCM prioritizes client safety and security. They are regulated by several top-tier financial authorities, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Additionally, they employ industry-standard security measures, including segregated client funds, secure login procedures, and data encryption to protect your personal and financial information.

Advantages and Disadvantages of HYCM


  • Competitive spreads, especially on the Raw account
  • Wide range of tradable assets, including forex, commodities, indices, and stock CFDs
  • User-friendly and customizable trading platforms (MT4, MT5, web, and mobile app)
  • Educational resources for beginners and experienced traders
  • 24/5 customer support


  • Limited research tools compared to some competitors
  • No copy trading functionality
  • Inactivity fee after 90 days of no trading activity

Conclusion: Is HYCM Right for You?

HYCM presents a compelling option for traders seeking a user-friendly platform, competitive pricing, and access to a diverse range of assets. Their educational resources and responsive customer support cater well to beginner and intermediate traders, while the Raw account caters to experienced traders seeking tighter spreads. However, if you prioritize extensive research tools or copy trading features, HYCM may not be the ideal choice.

Ultimately, the decision of whether HYCM is right for you depends on your individual trading goals, risk tolerance, and preferred features in a trading platform.


  1. Is HYCM safe to trade with?

HYCM is regulated by top-tier financial authorities like the FCA and CySEC, and they employ robust security measures to protect client funds and information.

  1. What are the minimum deposit requirements?

The minimum deposit varies depending on your chosen account type and region. However, it typically starts from a low amount, making HYCM accessible to new traders.

  1. Does HYCM offer any bonuses or promotions?

HYCM occasionally offers promotions and bonuses. It’s recommended to check their website for the latest offers.

  1. What customer support options does HYCM offer?

HYCM provides 24/5 customer support via live chat, email, and phone, allowing you to reach them through your preferred method.

How to Open an Account with HYCM: A Step-by-Step Guide

Opening a live trading account with HYCM is a straightforward process that can be completed in a few minutes. Here’s a step-by-step guide:

1. Visit the HYCM website.

Navigate to https://hycm.com/en and click on the “Open Live Account” button.

2. Complete the registration form.

Enter your personal details, including your name, email address, phone number, and country of residence. Choose a secure password and agree to the terms and conditions.

3. Verify your account.

HYCM will require you to verify your identity and address for security purposes. This typically involves uploading copies of documents such as your passport, driver’s license, and utility bill.

4. Choose your account type.

Select the account type that best suits your needs and experience level. The three primary options are Standard, Fixed, and Raw.

5. Fund your account.

HYCM offers various deposit methods, including credit/debit cards, bank transfers, and e-wallets. Choose your preferred method and deposit the minimum required amount to start trading.

6. Download the trading platform.

HYCM offers MT4, MT5, web, and mobile platforms. Choose the platform that best aligns with your trading style and download it to your device.

7. Start trading!

Once your account is funded and verified, you’re ready to explore the platform and start trading your chosen markets. Remember to conduct thorough research and manage your risk effectively before placing any trades.

Additional Tips:

  • Before opening a live account, consider practicing on a demo account to familiarize yourself with the platform and trading mechanics.
  • Carefully review HYCM’s trading conditions, including spreads, commissions, and margin requirements, before making any trades.
  • Always prioritize managing your risk by employing stop-loss orders and maintaining a sound trading strategy.

By following these steps and keeping the additional tips in mind, you can smoothly open an account with HYCM and embark on your online trading journey.

๐ŸŒŸ HYCM Summary:

๐Ÿฆ Broker Name: HYCM
๐Ÿ“… Established Year: 1974
๐Ÿ›ก๏ธ Regulations: Regulated by the FCA (UK), CySEC (Cyprus), DFSA (Dubai), CIMA (Cayman Islands)
๐Ÿ“ Headquarters: Cayman Islands
๐Ÿ’ฐ Minimum Deposit: $100
๐Ÿ“ฑ Platforms: MetaTrader 4, 5, HYCM Trader (mobile)
๐Ÿ”’ Max Leverage: Up to 200
๐Ÿ’ณ Deposit Methods: Credit/Debit Card, Bank Transfer, E-wallets
๐Ÿ† Broker Judge Score: 8.8 out of 10

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