HYCM Reviews

HYCM

Established in 1977, HYCM is a brokerage providing traders with access to global capital markets for over 40 years. With its headquarters in London, the firm has a client base in 20 countries across three continents with offices in major cities. Regulated for compliance by top regulatory agencies including  FCA, CIMA  and CySec, the broker guarantees the safety of client funds. Traders enjoy complete transparency in deals, a vast array of asset choices and no slippage or re-quotes.

Account: Three different account types to fit the trading requirements of an individual, as well as institutional traders, are offered. While the Mini trading account gives spreads as low as 1.2 pips, the Standard and VIP trading accounts have raw spreads starting at 0.2 pips. All accounts have a minimum lot size of 0.01. Islamic account without financial interest is available, but the broker does not offer demo accounts. Client deposits are kept in Tier 1 banks in segregation from the operating capital.

Minimum deposit: $100

Maximum leverage: 1:200

Features: HYCM offers the industry standard MT4 for desktop and web-based trading. Traders can get access to some advanced charting and industry best technical analysis tools through the platforms. Stop Loss Orders is available even at times of market volatility. Standard and VIP account classes receive free trading signals and rebates are offered on volume of trading. Generous bonuses like referral bonus worth up to $250 are given.

Education: The brokerage has built an education section in its website aimed to educate traders, both beginners and advanced about capital markets, managing risk, analysis, trading strategies and more through video and text lessons.

Deposits/Withdrawals: Deposits can be made through credit cards, wire transfer, and e-wallets. An online form is to be filled to raise a withdrawal request. Canadians can also deposit their accounts with via Interact Online.

Customer service: Accessible 24 hours a day on all trading days via phone, email, chat or fax