HYCM – Broker Review
HYCM is a Forex and CFD broker from the United Kingdom which was founded in 2007 and is regulated by the FCA. It offers a lot of trading instruments besides Forex like Futures, stocks of various markets, commodities, and others through Contracts For Difference.
It is a company with many years of experience in the field of financial markets for retail traders.
In this review of the XM broker, we are going to talk about its main products and services, its trading conditions, its main promotions, and other relevant aspects.
Type of broker
HYCM is a Market Maker Forex and CFD broker.
Country of origin
The clients of this broker can trade with the following instruments:
- Forex: 38 currency pairs in the Forex spot market, including the most important ones like EUR/USD, USD/JPY, GBP/USD, and USD/CHF, and other more exotic and less known ones such as EUR/TRY, USD/TRY, and USD/ZAR among others. With respect to the trading conditions for the Forex market, this broker offers a maximum leverage of 1:500, a minimum transaction size of 0.01 lots, and fixed spreads from 1.5 pips onwards for the main currency pairs.
- Precious Metals: Gold and silver in the spot market, two of the most important commodities traded in the markets. HYCM offers the possibility of trading with spot gold and silver contracts against USD and EUR.
- Contracts For Difference: CFD based on the following instruments (underlying markets):
- Metals: gold, silver, and copper.
- Energy Commodities: Crude oil (Brent and WTI) and natural gas.
- Agricultural Commodities: Cocoa, coffee, sugar, and cotton.
- Stock indexes: 20 stock indices of major US, European, and Asian stock markets, including the S&P 500, NASDAQ 100, DAX 30, CAC 40, IBEX 35 and Nikkei 225 among others.
- Shares: 15 major stocks in US, European and Asian markets such as Google, Microsoft, Twitter, and Alibaba.
- Micro Accounts: This type of account is for small investors who are just beginning in the Forex market and who want to try how it is to trade with real money without risking a high amount of capital.
- Standard Accounts: This type of account was designed for traders with more experience in the markets that want to invest more money than in a Micro account.
- Premium Accounts: It is the account for expert traders who have an interest in trading in the various financial instruments to which HYCM provides access, taking advantage of the best trading conditions offered by this broker.
Yes, with no limit of time.
This broker offers three trading platforms with the following features:
- HYCM PrimeTrader: It is an online application developed by the company, which is web-based and does not require downloading or installation (it can be accessed from any site with an Internet connection). This platform has an easy-to-use and friendly interface, along with several position management tools. With PrimerTrader clients can trade with a variety of markets (offering access to more than 120 financial instruments of various types). It also has multiple trading tools such as updated quotes, advanced price charts with multiple time frames, built-in technical indicators and other analysis tools, update market news, an economic calendar, and more. Along with its customizable interface, this platform offers other advantages for the trader, including guaranteed stop loss and full integration with the customer’s account, so that he has access to his account information all the time.
- HYCM Metatrader 4: It is a downloadable trading platform based on Metatrader 4, one of the most popular and complete applications of its type in the Forex market sector. This application has multiple tools for the trader, such as various types of orders, a user-friendly interface, updated quotes, market news, access to multiple markets, market analysis tools such as advanced price charts (with multiple timeframes), dozens of technical indicators incorporated and direct access to the dealing room in the case of VIP clients. In addition, it allows the creation, evaluation and implementation of automated trading systems known as Expert Advisors (based mainly on technical analysis).
- HYCM Mobile: This broker offers several applications based on the PrimeTrader platform, which allow the trader to access their account and trade from various mobile devices such as smartphones (Android & iOS). This platform offers complete integration with the client’s account as well as various trading functions, among which we can highlight updated prices, price charts, technical analysis tools, positions management tools, and a complete history of the transactions performed.
The trader can deposit and withdraw funds through Bank Wire Transfer, credit card, Paypal, Skrill and WebMoney.
Main Advantages of HYCM
- HYCM is a regulated broker from the UK (it is regulated by the FCA).
- It offers a regular trading contest for its clients.
- Several options of trading platforms and accounts.
- Different promotions for new and existing clients.
- This broker provides good customer service.
- Clients of this broker can trade with Forex automated trading systems on the Metatrader 4 platform.
- HYCM offers free Forex education.
- Free trading signals for the clients.
- Dedicated account managers and VIP personal dealer service.
- Traders have access to many markets, including Forex, stocks, and indices through CFD.
- This broker organizes trading competitions for its clients which offer interesting cash prizes for the winners.
- It offers the possibility to make money by promoting the services of HYCM through an affiliate program called HY Affiliates.
Main Offers of HYCM
- For the moment there are no new promotions from this broker.
Other Categories of this broker
- Gold Broker.
- Silver Broker.
- Oil Broker.
- Metatrader 4 Broker.
- Web-based trading platform Broker.
- CFD Broker.
|Company||Henyep Capital Markets|
|Minimum account size||$100 for the Mini account.|
|Minimum lot size||0.01 lots|
|Spreads||Fixed spreads from 2-3 pips for EUR/USD.|
|Platforms||Metatrader 4 and Metatrader 5|
|Open an account|