HYCM Review

Overview – Fees and commissions – Safety – Opening an account – Account types – Trading Platforms – Markets and products – Research tools – Education and training – Customer support – Our verdict

review

After careful research, our HYCM review team can confirm that this is a trustworthy broker with a strong reputation in the Forex community. Boasting a long and successful history, having been operational since 1977, HYCM also offers multi-jurisdictional regulation and has won 15 reputable awards over the years. At HYCM, you can enjoy over 300 trading instruments, execution speeds of under 12 milliseconds on average, and spreads from 0.2 pips. HYCM is a worldwide broker, with service providers in more than 140 countries and offices in leading global financial centers.

• More than 300 instruments
• Award-winning mobile application
• Regulated by FCA, DIFC, CIMA, and CySEC
• Best broker for variety of assets
• No social trading available

HYCM overall scores

In this review, you can find all the information you need to decide whether HYCM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how HYCM scored in each of our high-priority categories.

HYCM fees and commissions

Our HYCM review found that you will pay average to low fees for trading. HYCM is transparent about its commissions and fees, with no commissions payable on most account types. You’ll find competitive spreads on major assets, and our team was impressed to find that HYCM offers both fixed or variable spreads.

This should appeal to most trader profiles. Non-trading fees are on par with most competitors.Our experts have reviewed HYCM’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:

• Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
• Non-trading fees aren’t directly related to trading, but you should consider them since they make up the cost of using a certain broker. They include payment fees and inactivity fees.

Below, you will find a snapshot of the fees charged at HYCM. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.

Trading Fees*

TYPE OF FEE	COST
Minimum Spread EURUSD (pips)	1.8
Commission (%)	0%
Commission on Islamic Accounts (%)	0%

*Based on Standard account type.

Non-Trading Fees

Account Fee	N
Inactivity Fees	Y
Deposit Fees	N
Withdrawal Fees	Y

HYCM trading fees

You will notice that HYCM charges fees in the form of spreads for most account types. The exception is Raw accounts, which have tighter spreads as well as commissions. Fixed accounts use fixed spreads, while Classic accounts use variable spreads. This lets you choose your preferred pricing model.

The following are example spreads for forex pairs based on account type:

• EUR/USD from 1.8, 1.4, and 0.2 pips for Fixed, Classic, and Raw accounts, respectively
• USD/JPY from 2.3, 1.6, and 0.6, respectively
• GBP/USD from 2.5, 1.8, and 0.8, respectively
• USD/CHF from 2.8, 2.2, and 0.9, respectively

During our review of HYCM, our experts also found that spreads were competitive in other asset classes too. Below you can see the expected fees of popular options, for all account types:

• Facebook Stock CFD – from 22, 18, and 18 for Fixed, Classic, and Raw accounts
• US 500 Index CFD – from 0.5, 0.2, and 0.2, respectively
• BTC/USD – from 3,500, 3,210, and 3,210, respectively
• SPOT GOLD – 40, 32, and 20, respectively
• iShares Russell 2000 Index ETF – from 81, 78, and 78, respectively

HYCM commissions

At HYCM, Fixed and Classic accounts have no commissions. Raw accounts do charge commissions on forex and commodities, however, to make up for their tighter spreads. For forex currency pairs, the commission is $4 per round. It is $5 per round for commodities.

Financing/overnight rates

Our HYCM review team appreciates that the broker has detailed financing fees listed for Fixed, Classic, and Raw accounts. Each has separate pages for trading on either MT4 or MT5. This is notably different from competing brokers, who often only disclose the calculations they use. HYCM’s fee transparency makes it perfect for beginners who want very clear fee information.As an example, those with Fixed Accounts who use MT4 and trade EUR/USD will have long swaps of -1.25% and short swaps of -0.75%.

Overnight swaps are charged on all open positions at 00:00 server time on weekdays. To account for the weekend, a three-day rollover fee is applied to all stock CFD trades on Fridays and forex trades on Wednesdays (with the exception of currency pairs with a T+1 settlement period, such as USD/CAD, USD/RUB, USD/TRY. On these pairs, the three-day rollover fee is applied on Thursdays). For Islamic accounts, there are no overnight fees for 14 days with an open position. After this, there is a standard storage fee of $5 per night per full contract.

Non-trading fees

You will be happy to learn in our review of the HYCM forex broker that there are no charges for deposits or withdrawals. There are inactivity fees, however, but the policy is in line with brokers of the same quality as HYCM.If there is no activity on your account for 90 consecutive days, it is considered inactive and you will be charged a fee of $10, or the equivalent in your base currency, per month.

Do note, however, that if your account has a balance of zero, it will be considered dormant. Dormant accounts do not incur fees, so it’s a good idea to clear your account if you think you will not wish to trade for a while. To reactivate a dormant account, however, you will need to submit a written request.Our HYCM review team also cautions you that the broker charges currency conversion fees based on the prevailing exchange rates.

HYCM safety

Our HYCM review found many reasons to trust this forex broker. HYCM is regulated by the FCA, CySEC, CIMA, and DIFC. This means no matter where you are trading from, you can do so in confidence. As part of this regulation, HYCM segregates client funds and holds them in Tier-1 banks. The broker is also compliant with MiFID, and clients receive negative balance protection and insurance.

HYCM licenses and regulation

HYCM is licensed and regulated under slightly different names in various locations. For all of these trading names, Henyep Capital Markets group acts as the holding company. Henyep Capital Markets group’s assets have a controlling equity interest in the various trade names.
Our review team checked each of these licenses to make sure they’re active and legit:

• In the United Kingdom, Henyep Capital Markets (UK) Limited is regulated and authorized by the Financial Conduct Authority (FCA), under reference number 186171
• In Europe, HYCM (Europe) Ltd is regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC), under license 259/14
• The Cayman Islands Monetary Authority (CIMA) regulates and authorizes HYCM Ltd under reference number 1442313
• Dubai Financial Services Authority (DIFA) regulates and authorizes Henyep Capital Markets (DIFC) Limited via license number 000048
• HYCM Limited is registered in Saint Vincent and the Grenadines as an International Business Company under registration number 25228 (IBC 2018)

Is HYCM safe?

Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:

• What protection and/or insurance HYCM offers should something go wrong
• HYCM’s reputation, history, and management

HYCM client protection

As part of the registration and licensing from various organizations, you receive the following protection as an HYCM client. Each of these protections applies in the unlikely situation that HYCM were to become insolvent.

Client Protection

Country	Legal Entity	Protected Up To	Regulators
United Kingdom	Henyep Capital Markets (UK) Limited	£85,000	FCA
Europe	HYCM (Europe) Ltd	€20,000	CySEC

HYCM offers negative balance protection to all clients unless otherwise stated. This is a standard feature that helps you to mitigate risk and provides peace of mind.

HYCM background and reputation

HYCM has been operating since 1977, giving it over 40 years of experience in offering access to forex and other instruments. This long history not only shows that HYCM has extensive experience but also means that the broker has survived various economic and global crises. Our HYCM broker review team feels that this indicates a high degree of financial responsibility and financial durability.

Our HYCM broker review team confirmed that HYCM stores client funds in segregated accounts, as is required by most of its regulatory bodies. HYCM takes this a step further and stores those funds in Tier-1 banks, providing you with additional peace of mind.

The company behind HYCM is Henyep Group, which is located in Hong Kong and began as an active participant in the Chinese Gold and Silver Exchange Society. It has been on the Far East Stock Exchange since 1978 as Henyep Securities. The inclusion of the Henyep Group on stock exchanges provides additional confidence since shareholders hold publicly traded companies accountable.

Henyep Capital Markets is the capital markets division of Henyep with headquarters in the United Kingdom. Given the strong rules enforced by the FCA, this provides additional confidence for you as a client. Henyep Groups also has business ventures in financial services, direct investment, property, education, and charity.

Our HYCM review team was unable to find any major scandals or scams in the history of the broker. Any discussion of potential scams or scandals in other reviews or from clients always reinforces that HYCM has not had these problems. Given the broker’s 40-year history, this is a particularly impressive feat that should increase your trust in them.

Opening an account with HYCM

Opening an account with HYCM is a straightforward process that can all be completed online. As with other brokers, you will have to submit scans of documentation to verify your HYCM account, however, this is easy to do. The minimum deposit for HYCM is also highly accessible at just $100. This should help HYCM appeal to traders of all experience levels.

Is HYCM available in your country?

With regulation around the world, HYCM is available in most countries. Clients from USA, Hong Kong, North Korea, or Sudan are not eligible for accounts, however, and HYCM is not available in 31 countries and three Canadian provinces. This includes:

• United States
• Turkey
• Panama
• Japan
• France
• British Columbia, Quebec, and Saskatchewan in Canada
• Belgium
• Cambodia

How to open an account at HYCM

As part of this HYCM review, our expert team opened a new live trading account. They were happy to find that the process is fully digitalized and took less than 10 minutes. Follow the steps below to register at HYCM:

What you will need to open an account

Our review of HYCM reminds you that you will need to have the following information and documents on hand to verify your account with this Forex broker.

• Personal information – You will need to provide your full name, email address, phone number, date of birth, and tax identification number.
• Regulatory information – The regulatory information may include answering a quick survey on your past trading experience, trading aims, and funding sources, depending on your region.
• Documentation – You will need to provide a copy of your national ID card, driver’s license, or passport. You will also need proof of address in the form of a utility bill or a bank statement from the past three months.

You can easily upload the relevant documents via the client portal. If you happen to experience problems with this process, you can also email [email protected] for assistance.To open an account with HYCM, you’ll need to provide proof of identity and proof of address. This process allows HYCM to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices, such as money laundering.

What is the minimum deposit at HYCM?

The minimum deposit at HYCM is just $100 for Fixed and Classic accounts. This increases to $200 for Raw accounts. This comparatively low minimum deposit makes HYCM accessible for most traders.

HYCM payment methods

You can choose from the following base currencies with HYCM: USD, GBP, EUR, RUB, CAD, and AED. Deposits and withdrawals quick and easy, and the broker accepts a wide range of international payment methods. To make a deposit or withdrawal, simply go to Banking in the Client Portal. If you are depositing for the first time with a bank card, you will have to upload photos of both sides of the card with the key details blocked out.

The following table outlines the various payment methods available.

Payment Methods

METHOD	DEPOSITING TIME	ACCEPTED CURRENCIES	DEPOSITING FEE	MAX. DEPOSIT	WITHDRAWAL	WITHDRAWAL TIME	MINIMUM WITHDRAWAL	WITHDRAWAL FEE
Bank Wire Transfer	1 to 7 Business Days	USD, EUR, GBP, AED	N/A		Y	1 to 5 Working Days	$300	N/A
Visa or Master Card	Up to 1 Hour	USD, EUR, GBP, RUB, CAD, AED	N/A		Y	Up to 1 Hour	$20	N/A
Web Money	Up to 1 Hour	USD, EUR	N/A		Y	Up to 1 Hour	$20	N/A
Neteller	Up to 1 Hour	USD, EUR	N/A		Y	Up to 1 Hour	$20	N/A
Skrill/ Money bookers	Up to 1 Hour	USD, EUR	N/A		Y	Up to 1 Hour	$20	N/A

HYCM account types

Our HYCM Forex broker review team found three main account types to choose from; Fixed, Classic, and Raw. Premium and VIP accounts are also available, but these require you to contact HYCM directly for further details. Fixed accounts operate with fixed spreads, while Classic and Raw accounts have variable spreads. The following table outlines the differences between the various account types.

Account Types

	FIXED	CLASSIC	RAW
Minimum Deposit	$100	$100	$200
Max Leverage	1:200	1:200	1:200
Minimum Order Size	0.01 lots	0.01 lots	0.01 lots
Spreads	From 1.8 pips	From 1.2 pips	From 0.2 pips
Commission	$0	$0	$4
Available Instrument Types	5	5	5
Available Instruments (Number)	300+	300+	300+
Trading Platforms	MT4, MT5	MT4, MT5	MT4, MT5
Automated Trading	N	Y	Y
Execution Type	Market maker	Market maker	Market maker

Demo accounts

As you review HYCM, you will notice the Forex broker’s demo account. The demo account functions in the same way as a live account, with the same features and up-to-date market information.

To create a demo account, log in to the Client Portal. Head to Trading Account, then choose “Create Demo Account.” You can have a demo account even if you have not submitted documentation yet to verify your account.

The demo account is free and comes with $50,000 in virtual funds. The demo account is only available with MetaTrader 4, not MetaTrader 5. You can choose EUR or USD for your base currency.

To allow you to make the most of the demo account, HYCM sets it up as unlimited, allowing you to refund the account at any point and use it for as long as you feel the need.

Islamic accounts

All account types, including Fixed, Classic, and Raw, are available as Islamic accounts. To open an Islamic account, simply open any account type and then contact HYCM.

HYCM trading platforms

Instead of starting from scratch and creating its own platform, HYCM takes advantage of the ever-popular MT4 and MT5 platforms. Both are available on mobile devices as well as desktop, appealing to traders on the go. Regardless of the trading platform you choose, you have access to five asset classes and over 300 instruments.

HYCM offers two trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools, too.

To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of HYCM’s trading platforms. When doing so, they considered a range of factors, including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.

The following table outlines the main features of each platform.

Trading Platforms

	METATRADER 4	METATRADER 5
Instrument Classes	5	5
Number of Instruments	300+	300+
Number of Order Types	2	6
Number of Indicators	30	38
Number of Drawing Tools	23	44
Robots/EAs	Y	Y
Social/Copy Trading	Y	Y
Downloadable	Y	Y
Browser Compatibility	Y	Y

MetaTrader 4

Our HYCM broker review has found that you can trade more than 300 instruments across five asset classes on MetaTrader 4. MetaTrader 4 is commonly considered the industry standard for trading Forex, and it is the most widely used of the electronic trading platforms for the market.MT4 supports Expert Advisors for you to use as an HYCM client. EAs are easy to install on MT4 and do not require any third-party bridges.

With these EAs in place, you can trade 24/5 and automate your trading strategy.HYCM’s MetaTrader 4 platform incorporates Trading Central. You can quickly install the Trading Central plug-in on MT4 to see stop pivot, target, resistance, and support levels right on your live charts in MT4.MetaTrader 4 is also available for HYCM clients on mobile devices, including Android devices and iOS. This mobile version of MT4 is fully featured, although it does require working on a smaller screen.

MetaTrader 5

As with MetaTrader 4, trading on MetaTrader 5 with HYCM gives you access to more than 300 instruments and five asset classes. MetaTrader 5 builds on MT4 by offering cutting-edge technology on a multi-asset and multifunctional platform. It has flexible trading systems, advanced technical analysis, and fundamental analysis.Using MetaTrader 5 with HYCM will give you access to Expert Advisors and trading robots. As with MT4, the EAs give you the ability to trade 24/5 without any third-party bridges and with quick downloads.

To help with your analysis of live charts on MT5, the platform offers 21 timeframes and an integrated fundamental economic calendar. You also can take advantage of six types of pending orders. To further help with analysis, HYCM’s MT5 platform includes 44 analytical objects and 38 technical indicators. You can also use unlimited charts, which our HYCM review team feels will particularly appeal to advanced traders.

As an HYCM client, you can also download and install the Trading Central plug-in on MT5. The MT5 analytics and information from MT5 overlap somewhat with those from MT4. Trading Central on MetaTrader 5 provides the ability to view the key resistance, support, stop pivot, and target levels on the MT5 charts. Additionally, you get forecasts, commentary, and technical analysis.MetaTrader 5 is also available for mobile devices, making it possible to trade on the go. There are applications from the Apple App Store and the Google Play Store.

What is the execution policy at HYCM?

HYCM is a market maker, and the broker has a clear execution policy outlined in its documentation. To prevent you from needing to read it, our HYCM forex broker review is here to let you know the basics.HYCM determines the CFDs to offer and the pricing based on external price providers and liquidity. The information is constantly processed and analyzed.

In most situations, HYCM applies consistent and/or symmetrical markups on spreads, as this helps the broker deliver highly competitive average spreads. The bid/ask prices are updated in milliseconds for continuous flow. When determining the best execution for an order, HYCM considers the client’s characteristics, the order, the financial instruments, and the execution venues.On HYCM MetaTrader 4, the average execution time is just 12 milliseconds.

HYCM markets and products

As you review the broker’s offerings, you will appreciate the range of asset types available through HYCM. You can trade forex, stocks, indices, cryptocurrencies*, ETFs, and commodities, most of which are offered in the form of CFDs. There are over 300 instruments to trade in total, putting HYCM on the higher end of average in terms of trading opportunities.

*Availability subject to regulations

Instrument	Number
Currency Pairs
Commodities
Precious Metals
Indices
Stocks and Shares
Cryptocurrencies
Options
ETFs

Currency pairs

With 69 currency pairs, HYCM offers majors, minors, and exotics. Spreads are around average for Fixed accounts and Classic accounts. Raw spreads are highly competitive, especially given their commission of just $4 per round. Trading forex with HYCM can give you spreads from 0.2 pips, leverage of up to 1:200 (1:30 for traders inside of the EU), and margins from only 0.5%.

Commodities

HYCM offers commodities with leverage of up to 1:133, or up to 1:20 for European clients. This is another asset class where you trade CFDs, allowing you to trade commodities without any need to own the underlying instrument. The range of commodities is fairly vast. You can trade cocoa, coffee, sugar, and cotton. Energy and gas commodities include US SPOT OIL, US OIL CFD, NATGAS CFD, and BRENT CFD.

Our HYCM Forex broker review team encourages you to remember that those with Raw accounts get tighter spreads on precious metals and US SPOT OIL but pay a $5 commission per round. For other commodities, Raw and Classic accounts have the same minimum spreads.Spreads for commodities can be as low as 2 for SILVER EURO, 3 for US OIL CFD, and 3 for SUGAR CFD.

Precious Metals

At HYCM you can also trade a variety of precious metals. This includes SILVER EURO, GOLD EURO, SPOT GOLD, and SPOT SILVER. You can also trade silver or copper CFDs or platinum or palladium. The leverage here is offered at the same level as for commodities; 1:333 for non-EU clients and 1:20 for EU clients.

Indices

Trading indices with HYCM gives you access to the global equity markets with leverage of up to 1:200, or up to 1:20 for European clients. As an example of spreads, those for the US 500 Index CFD start at 0.2, and they start at 1 for Germany 30 Index CFD.

Our review of HYCM encourages you to consider indices as a way to diversify your portfolio with this forex broker to include global assets. There are indices from the United States, United Kingdom, Germany, France, Hong Kong, China, India, Shanghai, Netherlands, Switzerland, Italy, Japan, and Spain, as well as the Euro 50 Index CFD.

Stocks and shares

Trading stocks and shares on HYCM is done in the form of CFDs. If you are an international client you can enjoy leverage of up to 1:20 for margins from only 5%, whilst those trading with the CySEC arm of the broker will be limited to a 1:5 leverage, and margins of 20%. To provide an idea of the spreads, they can be as low as 3 pips for Twitter, 14 for Microsoft, and 18 for Facebook.

You will find stock CFDs for major companies, such as Apple, Alibaba, Bayer AG, Commerzbank AG, Deutsche Post, Intel, Oracle Netflix, Visa, Danone, LVMH, Allianz, Deutsche Bank, Uber, and those already mentioned. These options include stocks from the United States, France, and Germany.

Cryptocurrencies

As with most other assets from HYCM, trading cryptocurrencies is done in the form of CFDs. This lets you take advantage of market movements and the volatility of cryptocurrencies without having to own the assets. There are five main cryptocurrencies, but 13 cryptocurrencies are available overall.

The ability to trade BTC, LTC, ETH, XRP, BAB, BTG, DSH, ETC, IOT, XMR, NEO, QTM, and ZEC is impressive, as most brokers only offer access to a handful of these. All of those cryptocurrencies are paired with USD, and you can also trade BTC/EUR, a somewhat rare offering. Please note, the availability of cryptocurrencies is subject to regulations.

ETFs

Once you open an account with HYCM, you can a nice variety of ETFs with Select Sector SPDRs available for Materials, Financial, Energy, Industrial, Technology, Consumer Staples, Utilities, and Health Care. There are also multiple VelocityShares, ProShares, and iShares ETFs to choose among, as well as SPDR S&P 500 and United States Oil.

Social trading

Our review of HYCM found that this broker does not offer social trading. The closest to social that is available is using Trading Signals or Expert Advisors, including EAs that have been written by others through the MT4 and MT5 platform.

Those who appreciate the automated element of social trading will find that EAs and Trading Signals are enough. If you are interested in the social or educational element of social trading, then the HYCM education area may have information and resources that interest you.

HYCM research tools

HYCM offers a range of research tools that beginner and experienced traders alike will appreciate. Some of these tools are standalone features on the broker’s website, while others are integrated into the MT4 and MT5 trading platforms. You can make use of the economic calendar, calculators (for pips, currency converters, and margins), market outlook, and market news.

Research Tools

News (from top-tier sources)	N
Trading Signals and Indicators	N
Trade Ideas	N
Expert Analysis	N
Autochartist Tools	N
Sentiment Charts	N
Economic Calendar	N

News

The recent news section of the HYCM website provides the most relevant news affecting the markets. This news comes from FXDailyInfo, which is a common source of information used by brokers. FXDailyInfo is considered highly reputable and our HYCM review team urges you to pay attention to the analysis provided.

Trading signals and indicators

Within the MetaTrader 4 and MetaTrader 5 platforms, you can easily make use of trading signals as well as indicators. There are a variety of indicators that can be overlaid onto the charts. Signals can be generated by using several indicators in unison.

Expert analysis

The recent news section also includes some expert technical analysis. Most of the posts include detailed charts that include trend lines and other indicators drawn into place, as well as the use of specific figures. You should also pay attention to the Market Outlook page, as this gives you a great overview of what’s going on daily.

Trading Central

The lack of Autochartist tools may be a disadvantage for some traders, but HYCM makes up for this with Trading Central tools and information. As mentioned earlier, Trading Central provides access to key levels shown directly on charts as well as commentary, forecasts, and technical analysis. Our HYCM broker review team feels that most traders will view it as a worthy substitution for Autochartist.

XM Group education and training

Our review of HYCM found that this forex broker is perfect for beginner traders. You will gain access to all of the educational resources that you will need. From videos explaining how to use the platform to a range of e-books, HYCM’s education section is very full and competent.

Educational Features

Demo Account	N
Platform Tutorial Videos	N
Educational PDFs	N
Live Webinars	N
YouTube Videos	N
Trading Academy	N
Trading Glossary	N

Platform tutorial videos

At the time of writing, HYCM has 12 videos showing how to use various features of MetaTrader 4, which should be enough to prevent you from having to look at other sources. These cover the basics from starting out, Market Watch, the Chart Window, the Terminal Window, the Navigator Window, Placing Orders and viewing your Account History. There are also more detailed videos explaining how to use the charts, indicators, and scripts.

These videos are all available from the HYCM website, and there is no need to log in to your account to access them. As such, all clients can view the videos, as can anyone who is contemplating opening an account.

Educational PDFs

The educational PDFs from HYCM come in the form of four e-books. These include e-books on forex, advanced topics, stocks and CFDs, and commodities and futures. As with the videos, these are freely available on the HYCM website, regardless of the account type or even whether you are a client.

Live webinars

Every Monday, HYCM hosts a webinar titled “FX Week Ahead: Live Market Analysis.” These webinars require you to register ahead of time but are open to all account types. HYCM also hosts workshops regularly, including the “Online Trading Workshop: Level Up with HYCM” every Wednesday. This also requires registration and is open to all clients.

If you miss a live webinar, you can view past webinars right on the HYCM website. The live webinars are occasionally supplemented by in-person events, including workshops and seminars. Most of these events are guides to forex trading, with many designed for beginners and some appealing to advanced traders.

Trading academy

HYCM’s trading academy is a group of dozens of videos of varying lengths. These provide in-depth information on a range of topics that traders of all skill levels will find useful.The Beginner’s Course features such topics as why to trade Forex, types of orders, winning tactics, and basic terms. Advanced traders and beginners who want a well-rounded Forex background will also find a section with videos on trading tools.

Examples include trading psychology, capital management, basic and advanced technical analysis, and market analysis.There is another section on multiple trading strategies and their difficulty level. Example topics include trend signal, tunnel, fractal, and fishing trip strategies. As these are videos, there are illustrations as well as explanations. Like the other educational resources, these are available on the HYCM website without logging in.

Trading glossary

The trading glossary is in the Beginners Course, divided into Basic Forex Terms and Glossary of Concepts. The only negative is that this is not a text-based glossary that you can browse through. Instead, it features video introductions to the terms and concepts you need to understand to trade Forex. That being said, some definitions are available in the FAQ section of the Help Center.

HYCM customer support

As you review the forex broker’s customer support, you will appreciate the ability to contact HYCM in multiple ways, including live chat, phone, messaging systems, and email. Support is available 24/5. Compared to other brokers, our HYCM review team was pleased with the quality of responses and the friendliness of the support staff.

The following methods let you easily contact HYCM:

• Live chat
• Customer support email: [email protected]
• Phone: +442088167812
• Headquarters address: 18 King William Street, London, EC4N 7BP, United Kingdom
• Facebook Messenger
• Telegram: @Hycmtradebot
• WhatsApp: 35797825968
• Viber: hycm
• Skype

HYCM makes it easy to contact customer support, as you can select the message icon in the bottom-right corner of the page. Clicking on this gives you the option to simply click to contact support via Intercom (messages), Facebook Messenger, Telegram, WhatsApp, Viber, or Skype. Alternatively, you can click on “Live Chat” at the top of the website. You can also find and contact HYCM on Facebook, Twitter, LinkedIn, Instagram, YouTube, and CrunchBase.

HYCM additionally has an FAQ section in the Help Center that is reasonably robust. The questions are divided into intuitive categories, and there is a convenient search feature. In our experience, the customer support team is knowledgeable. They were able to resolve our inquiries promptly. The website is available in 12 languages, helping the global audience that HYCM aims to attract.

For those who live close to one of the HYCM offices, it is possible to make an appointment in person. HYCM’s headquarters are in London. There are also offices in Limassol, Cyprus; Dubai, the United Arab Emirates; Sharq, Kuwait; Hong Kong; and the Cayman Islands.

HYCM mobile compatibility

As mentioned, both MetaTrader 4 and MetaTrader 5 are available as applications for iOS and Android devices. It is possible to access all of the features on the mobile applications, including trading, funding, verifying your account, and contacting support.

The HYCM website is moderately optimized for mobile. All of the most important information is viewable from smartphones or tablets, but you will miss some details, such as specific features available on the trading platforms. As such, we suggest that if you cannot find the information that you want on the website via your mobile device, open it on a computer and you may find the answer.

HYCM – Our verdict

After extensive research for our HYCM broker review, our team feels confident recommending this broker. There is a low minimum deposit and more than 300 instruments to choose from across five asset classes. HYCM has a well-rounded educational section with useful weekly live webinars available to all clients. With 40 years of experience, the broker has a well-deserved strong reputation.

Sign up for a live account at HYCM, and you will be ready to start trading within minutes.

Final Summary

Minimum Deposit (USD)
Licenses
Max. Leverage
Client Protection	N
Broker Type
Number of Instruments
Currency Pairs
Stocks
Cryptocurrencies
CFDs	N
Proprietary Trading Platform	N
MT 4	N
MT 5	N
Mobile Compatible	N
Research Tools	N
Educational Materials	N
Payment Methods
24/5 Customer Support	N
Live Chat	N

*Leverage limited to 1:30 for EU and UK clients
*Availability of cryptocurrency CFDs is subject to regulations.

HYCM information

• Year Founded: 1977
• Company Trading Names: Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Ltd, Henyep Capital Markets (DIFC) Limited, HYCM Limited
• Licenses: FCA, CIMA, DIFC, CySEC
• Headquarter Address: 18 King William Street, London, EC4N 7BP, United Kingdom
• Phone Number: +442088167812
• Facebook: https://www.facebook.com/hycmsince1977
• Twitter: https://twitter.com/hycm

Risk Disclaimer: HYCM offers CFD products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our methodology: This review of HYCM has been created using accurate data and unbiased facts. To test the broker, we have used our unique and detailed methodology, which assesses over 200 criteria points in 10 key areas. This guarantees that all of our reviews are fair and extensive.

We update our methodology and our reviews regularly. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct.

What’s next

TAKE ACTION
Open an account on the broker website.

COMPARE BROKER
See what benefits one offers over the other

LEARN
Trading financial markets has never been easier.