Welcome to our latest HYCM review. This online broker has a compelling new customer offer as well as over 300 trading instruments. Creating an account is extremely straightforward and we don’t see a reason why not to.
What is HYCM? Find out what this online broker is capable of by reading our latest coverage. We’ve made sure to cover all aspects of this platform so that you are able to figure out if it’s the right broker for you. Read up about their dynamic trading platforms, comprehensive support, and low spreads today.
|5 Stars|| ||0%|
|4 Stars|| ||0%|
|3 Stars|| ||0%|
|2 Stars|| ||0%|
|1 Star|| ||0%|
Whether you end up reading our Forex.com review or this HYCM review, we’re confident there’s a couple of things on your mind; one being the possibility of a new customer bonus. Fortunately, you won’t be disappointed if you sign up with HYCM. This online broker has a 10% deposit bonus on offer. If you deposit a minimum of $100, you’ll receive a 10% bonus up to $5,000. The offer is credited to your account instantly and enables you to take the market by storm. Dormant account holders can also reactivate their accounts and receive a $50 no deposit bonus for their efforts.
The platform is exceptionally easy to use. It must be noted that the mobile app for iOS and Android are the culmination of HYCM’s process of streamlining their operations. Here, you’ll have a trading platform that is slick, intuitive, and practical. Instant access to your account and the latest market news will ensure that you are always on top of developments that concern your trades. Our HYCM review awards this broker top marks for their overall design and application relating to their platform.
There are three different account types on offer; Fixed, Classic, and Raw. As the name suggests, a Fixed account has fixed spreads from 1.8 pips. HYCM won’t take any commission when you use this account. A minimum deposit of $100 applies while you can utilise a minimum trading volume of 0.01.
A Classic account has variable spreads starting at 1.2 pips where no commission is charged. The minimum trading volume and deposit is the same as the Fixed account. A Raw account is recommended for advanced traders. Here, you’ll have spreads starting at 0.2 plus $4 per round. The minimum deposit is $200 while the minimum trade volume is also 0.01. If you are unsure of which account to choose, you can fill out the online questionnaire provided by HYCM so as to identify the best account for you.
You’ll be able to make use of the MetaTrader 4 or MetaTrader 5 platform. Whichever you decide on, you’ll need to download it for desktop or download the app (for iOS or Android). Our HYCM review did not find a platform that runs in your web browser. However, this isn’t necessarily a bad thing. The latest MT4 and MT5 platforms have utilised the latest technology and incorporated intuitive trading tools.
Both platforms are robust and are compatible with expert advisors and trading robots. Analytical and fundamental analysis are the cornerstone of the MT5 platform and clearly define it as a prominent electronic platform for trading. Both of these platforms are easy to install and will allow you to trade round the clock, five days a week.
You can make a deposit using online credit/debit card payments, Skrill, Neteller, Webmoney, China Union Pay, Interac, or wire transfer (depending on your region). You can also use several virtual cards as long as you provide the correct information. Minimum deposits are capped at $100.
You can withdraw funds to your bank account. You’ll be required to enter your details in the Client Portal. Bear in mind that withdrawals of less than $300, a fee of $30 will apply. Withdrawals should be processed in one business day but can take between 3 and 7 days to clear.
How does our latest HYCm review compare to our Prime XBT review in terms of fees? Well, there’s only one way to find out. There are no account fees when opening an account. Plus, you won’t be charged any deposit fees when using HYCM. There is a processing fee of $30 for smaller withdrawals – find out more in our payments section of this HYCM review. Commission is charged to all Raw account holders ($4 per round). You will also be charged interest fees for positions held overnight. However, these fees depend on the current interest rate, size of trade, and open price. You can use the built-in HYCM calculator to ascertain these fees.
It’s imperative that an online broker has the ability to attend to all issues that may arise from customer accounts. You will find that there is 24/5 support on the platform. You can make use of the latest live chat feature and the FAQ section as your first port of call. Between these two features, you should be able to resolve most of your issues (if ever required). You can also contact the team using one of four email addresses – specific to your query or problem – as well as getting in touch via telephone.
You will find that the platform is regulated in a number of territories across the globe. This means that the online broker is authorised to provide services, not only in good faith, but because it has been vetted. HYCM is authorised and regulated by the Financial Conduct Authority in the UK, the Cyprus Securities and Exchange Commission in the EU, the Cayman Islands Monetary Authority, the Dubai Financial Services Authority, as well as being licensed as a business in Saint Vincent and the Grenadines.
Our HYCM review wouldn’t be complete without assessing additional features that make this platform stand out from the crowd. This online broker has taken the liberty of creating an all-inclusive learning environment. We really enjoyed the fact that there are live seminars on offer as well as workshops and webinars. This will only serve to improve customer outlooks and trading expertise.
Plus, the broker has been around for four decades, proving that it provides a consistent service where loyal customers continue to support the brand. Our HYCM review also found that the broker has received 15 global awards over the years and has the ability to process 25,000 orders a day. It’s no wonder this broker continues to thrive 40 years after its conception.
Our latest HYCM review is astounded at the scope of the forex offering. You’ll be able to trade over 60 different pairs. It goes without saying that there are a wide number of major pairs as well as minor pairs. Plus, you’ll have access to plenty of exotics along the way. Trade pairs such as ZARUSD, SEKJPY, TRYJPY, GBPAUD, EURTRY, to mention but a few. You’ll have access to all currency pairs regardless of which account you use. Bear in mind that minimum spreads vary depending on your account selection. More on this below.
The biggest cost to take into account are spread costs; all of which vary as outlined above. If you decide to use the Raw Account, then you’ll be paying a specific amount based on the pair in question plus $4 per round (no matter which pair you trade). The other two account types will have a fixed minimum spread. For instance, there is a minimum spread of $3 when trading AUDCAD.
Lot size is 100,000 of the currency in question. The minimum lot size is capped at one unit of currency. You’ll find that maximum leverage is 1:30 for major pairs and 1:20 for minor and exotic pairs. You can increase this figure substantially if you utilise dynamic leverage. Major and minor pairs come with a leverage ratio of 1:500 in this instance.
It’s clear that HYCM has made a real effort to expand its forex service as it now enables customers to access a wide selection of pairs. With low spreads and real-time market analysis, it’s certainly a good platform to utilise if you prefer to trade in forex.
If you’re looking to trade the market movement in various instruments, then feast your eyes on our latest HYCM review. There are stock CFDs, index CFDs, commodity CFDs, and various ETFs. You’ll have access to 11 different exchange-traded funds, more than a dozen commodities, over 20 indices, and a big selection of stocks. You needn’t purchase the underlying asset as these are CFDs in their own right. You can simply speculate on price movements and take out a position.
The trading costs for CFDs vary depending on the asset class. Thus, it varies extensively. However, keep in mind that you can take advantage of commission-free trades when using a Fixed or Classic Account. Stock and exchange-traded fund CFDs have finance costs of -3.00% for long and short swaps. Indices have a fee of between -1.25% and -1.75%.
The minimum trade size is 1 share for stock CFDs. Indices come in at $0.05 at the low end and $0.50 per index point at the other end. Lot sizes vary from $5 per index point to $20 per index point. Keep in mind that the maximum leverage for stocks and ETFs is set at 1:20, indices come in at 1:200, and commodities at 1:133. You can also capitalise on margins of as little as 5% on stock CFDs.
Our HYCM review has found that the platform has certainly bulked up its offering in terms of CFD opportunities. There’s plenty to go around and this is underpinned further by low spreads, commission-free trades, and the opportunity to leverage your position with relative freedom. It’s one of the better services on the platform and is extensive in scope and executed well.
Our HYCM review was keen to find out as much as possible about the HYCM crypto trading options. Our initial thought was that there were only several crypto CFDs on offer. However, you will be able to trade in cryptocurrencies ranging from Bitcoin, Ethereum, Litecoin, Polkadot, and Dogecoin.
The latest HYCM review would be remiss not to mention that spreads differ depending on the crypto and fiat currency in question (and account type). For example, there is a minimum spread of 150 for BTCUSD when using a Fixed Account. The spread is lower at 135 if you have a Classic or Raw Account. A lot size is 1 Bitcoin while the minimum trade size is 0.01 Bitcoin. The maximum leverage for all cryptocurrencies is 1:20.
You’ll have access to all crypto CFDs if you use the MT5 trading platform. However, you can only trade BTCUSD, ETHUSD, LTCUSD, and XRPUSD. The current fee for long and short swaps of crypto is set at -20%.
There is certainly a wide selection of crypto CFDs on the platform. All crypto traders should be pleased at the selection. Finance fees for swaps may be slightly high but customers can utilise leverage of up to 1:20 and make use of relatively low spreads. If you’re looking to trade CFDs in crypto, our HYCM review urges you to consider using this broker.
It’s important that you take into account the security and past history of an online broker. If you don’t, you’ll be sure to expose yourself to a more risky environment where you may encounter a scam or simply a very mediocre trading experience. Read our latest IQ Option review or HYCM reviews to find out how these online brokers compare. Plus, we’ll highlight any HYCM scams or issues relating to competitors.
It’s always vital that you know what the online platform consists of before signing up. This goes for all online sites. You can read our latest reviews at TradersBest.com to find out precisely what HYCM stands for and what type of services it offers. From the outset, we can tell you that it’s an online broker that provides trading opportunities to customers.
There are those online brokers that provide a safe user experience with high-end platforms and trading tools which are reliable. However, a number of online social trading sites fall short of the mark. It is for this reason that we urge you to always read our latest reviews. From the comprehensive XM.com review to our coverage of HYCM – brush up on all the facts and you’ll be sure to find an online broker which is safe and transparent.
It’s always exciting signing up with a new broker because you stand the chance to claim a new customer offer. In our latest HYCM review we will look into the availability of a bonus offer which will boost your funds and allow you to hit the ground running.
An aspect which can be overlooked initially is the quality of customer support on online broker sites. Yes, it’s imperative that there are a wide number of instruments available in state-of-the-art platforms. But, it’s just as vital that the operational aspects of support and security complement the services and features. Our latest HYCM review will outline what you can come to expect from the support.
It is with great triumph that we round up our latest HYCM review. This online platform may not be the biggest or most elaborate out there, but they certainly have a knack for providing a stellar brokerage service. There are plenty of contracts for difference on offer while crypto CFDs have taken center-stage on the site. You’ll even be able to claim a thrilling bonus as a new or old (dormant) account holder. It’s definitely a good platform for those starting out as well as those who wish to utilise a more advanced online site.
Take a look at our other reviews, such as the WazirX review to compare and contrast competitors in the field. You’ll get a better idea of what is out there and this enables you to narrow down your selection in order to find the best online trading site for you.