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HYCM Review

Why choose HYCM

Established broker with a long history and a strong regulatory framework.

Pros

  • Multiple account types.
  • Strong regulatory oversight.

Cons

  • Inactivity fee after 90 days of dormancy; limited product range beyond forex and CFDs.
HYCM

HYCM

Fee Level:

Medium

Inactivity Fee:

Medium

Index CFD Fee:

Medium

Investor Protection:

Up to £85,000 under the Financial Services Compensation Scheme (FSCS).

Mobile Platform:

Visit HYCM

Provides a cost-effective trading environment with minimal fees.

Pros

  • No withdrawal fees; competitive forex spreads starting from 0.2 pips.

Cons

  • Inactivity fee applies after 90 days of inactivity; limited product range beyond forex and CFDs.

Regulated by FCA, CySEC, and CIMA; segregates client funds and offers negative balance protection.

Pros

  • Strong regulatory framework and security measures, including SSL encryption and segregated client funds.

Cons

  • Limited product range beyond forex and CFDs.

HYCM supports bank transfers, cards, Skrill, Neteller, and local payments. Deposits are instant; withdrawals take 1–5 days. No deposit fees.

Pros

  • Multiple funding options, instant deposits, no deposit fees.

Cons

  • Multiple funding options, instant deposits, no deposit fees.

HYCM offers user-friendly account setup, with verification usually done within 1–2 business days.

Pros

  • Multiple account types for different experience levels.

Cons

  • Multiple account types for different experience levels.

HYCM provides access to the MetaTrader 4 and 5 mobile apps, offering a user-friendly interface with essential trading features, real-time market data, and basic charting tools.

Pros

  • User-friendly, good search function, price alerts. comprehensive trading tools, support for automated trading.

Cons

  • No two-step (safer) login, no Touch/Face ID login.

HYCM utilizes the MT4 and MT5 desktop platforms, known for their robust performance, advanced analytical tools, and support for automated trading strategies.

Pros

  • Advanced charting tools, customizable indicators, support for Expert Advisors (EAs).

Cons

  • No proprietary platform; interface may be complex for beginners.

HYCM offers a diverse range of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies, allowing traders to diversify their portfolios across various asset classes.

Is HYCM a regulated broker?

HYCM Limited is authorized and regulated under the Dubai Financial Services Authority with license number F000048.

What types of accounts does HYCM offer?

HYCM offers several account types to cater to different trading needs: Fixed Account: Features fixed spreads starting from 1.8 pips, suitable for traders who prefer predictable trading costs. Classic Account: Offers variable spreads starting from 1.2 pips, ideal for traders seeking tighter spreads. Raw Account: Provides raw spreads from 0.2 pips with a commission of $4 per round, designed for traders who require the lowest possible spreads.

Are my funds safe with HYCM?

Yes, HYCM ensures the safety of client funds through the following measures: Segregated Accounts: Client funds are held in segregated accounts, separate from the company's operational funds, ensuring they are not used for any other purposes. Regulatory Compliance: Being regulated by reputable authorities like the FCA, DFSA, and CySEC, HYCM adheres to strict financial standards and practices. These measures provide clients with assurance regarding the security of their funds.

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