20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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HYCM Review 2024
Minimum
deposit:
deposit:
- $100
Trading platform:
- MT4
- MT5
- HYCM Mobile
Regulation:
- FCA
- CySEC
- CIMA
- DIFC
Bonus for deposit:
- 0%
Minimum
deposit:
deposit:
- $100
Trading platform:
- MT4
- MT5
- HYCM Mobile
Regulation:
- FCA
- CySEC
- CIMA
- DIFC
Bonus for deposit:
- 0%
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in accordance with the
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Summary of HYCM Trading Company
HYCM is a moderate-risk broker with the TU Overall Score of 5 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by HYCM clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. HYCM ranks 118 among 412 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
HYCM is a broker for those who value the variety of trading instruments and prompt support. The company is a suitable broker for both beginner and experienced traders who can work on both PCs and mobile devices.
HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc.
| 💰 Account currency: | EUR, USD, GBP, RUB, CAD, AED |
|---|---|
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:500 |
| 💱 Spread: | From 0.1 pips |
| 🔧 Instruments: | Forex, indices, metals, oil, gas, commodity markets, securities, cryptocurrency |
| 💹 Margin Call / Stop Out: | 100% / 20% |
👍 Advantages of trading with HYCM:
- extensive experience and reliability - the company has been operating for over 40 years;
- excellent trading conditions;
- good liquidity;
- fast execution of orders;
- over 300 trading instruments;
- 5 types of investments;
- spreads from 0.1 pips;
- multilingual support in 14 languages;
- customer service in popular apps: Skype, Viber, Telegram, WhatsApp and Facebook;
- convenient mobile platform, which is one of the best;
- protection against negative balance.
👎 Disadvantages of HYCM:
- customer service does not work on weekends;
- inconvenient for scalping;
- few opportunities for passive trading;
- there is no cent account.
Evaluation of the most influential parameters of HYCM
Geographic Distribution of HYCM Traders
Popularity in
24.3%
VN
13%
RU
13%
NL
9%
UA
8.3%
EG
7.7%
JP
3%
BD
0.7%
Others
Video Review of HYCM i
HYCM Latest Comments for 2023 i
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Expert Review of HYCM
HYCM is a trusted partner of the Traders Union and has gained its reputation as a reliable broker with its favorable conditions that it offers for trading on the Forex Market.
HYCM offers training resources, a free demo account, as well as three types of real accounts (Fixed, Classic and Raw) with different conditions. This allows a trader to choose the best option, based on individual requirements. In addition, the company offers special conditions for corporate and VIP clients trading in large volumes. All traders are protected from a negative balance, which positively affects security.
Based on this, HYCM is suitable for both those who have just started trading and experienced traders who build their own trading strategies. The broker has been a partner of the Traders Union for many years, and during this time there have been no significant complaints about the company's work. If there are any questions and disagreements, the customer service promptly resolves them with the maximum benefit for the customer.
The company's website is simple, user-friendly. This makes it easy to evaluate and compare all the offers of the broker. Customer focus, functional service and prompt support, variety of trading tools and convenient platform allow the broker to stand its ground for so many years.
Dynamics of HYCM’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
HYCM is an ideal company for those who want to combine active independent trading and trading with the help of advisers. However, the broker has few investment programs. Thus, there is a possibility of automatic copying of transactions for a trader, as well as opening a VIP account with a personal manager.
A small number of passive investment programs are more than compensated by the availability of trading currency pairs, indices and futures for gas, oil and precious metals. The availability of trading stocks and futures contracts for cryptocurrency and commodities also levels this minor drawback. In addition, the company offers the opportunity for social trading, as well as the excellent affiliate programs which can help traders, influencers and novice brokers get additional benefits.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
HYCM affiliate program
-
Cooperation program. Provides for several directions of work. They have an incentive for attracting new customers, a commission after a new trader makes a deposit and another being 20% of income from profits of the trader attracted by a partner. There is also an option when a partner can receive a certain amount of reward. It depends on the size of the deposit by the attracted customer. If one of the traders attracted by a partner becomes a partner himself, you can get additional income. In addition, partners can be provided with mobile trading tools and a personal manager. Analytics is available around the clock. If a partner advertises HYCM, he can choose the amount of commission.
-
Novice brokers - IB. This affiliate program provides a multi-level system of discounts if a local office is opened in the region. HY Markets broker supports franchise partners. Free market reviews, adjustable advertising and market tools are available for customers.
-
White Labels - Our services under your brand. This program offers partners to use their website or online resource to promote the broker. The company, in turn, provides support in the development of the back office, including reporting and additional financial expenses.
The conditions of affiliate programs allow each trader to choose the best option and form their referral system, which allows for additional income.
Trading Conditions for HYCM Users
HYCM (HY Markets) offers attractive trading conditions for traders living in 140 countries of the world. First of all, the minimum transaction volume is worth noting, which is 0.01 for all types of trading accounts. In addition, regardless of the type of account, a trader is given the opportunity to take expert advice and trade according to Sharia law. The minimum spread is only 0.1 pips, and the deposit is from 100 US dollars.
$100
Minimum
deposit
1:500
Leverage
24/5
Support
| 💻 Trading platform: | MT4, МТ5, HYCM Mobile |
|---|---|
| 📊 Accounts: | Fixed, Classic, Raw |
| 💰 Account currency: | EUR, USD, GBP, RUB, CAD, AED |
| 💵 Replenishment / Withdrawal: | Bank Wire, Visa/MasterCard, Neteller, Skrill, Bitcoin, Perfect Money |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lots |
| 💱 Spread: | From 0.1 pips |
| 🔧 Instruments: | Forex, indices, metals, oil, gas, commodity markets, securities, cryptocurrency |
| 💹 Margin Call / Stop Out: | 100% / 20% |
| 🏛 Liquidity provider: | Barclays, HSBC |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market Еxecution, Instant Еxecution |
| ⭐ Trading features: | Cryptocurrency trade; Good liquidity; Hedging; Protection against negative balance. |
| 🎁 Contests and bonuses: | Yes |
Comparison of HYCM with other Brokers
| HYCM | RoboForex | Eightcap | Exness | XM Group | Gerchik&Co | |
| Trading platform |
MT4, HYCM Prime Trader, HYCM Mobile | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, MobileTrading, XM App | MetaTrader4, MetaTrader5 |
| Min deposit | $100 | $10 | $100 | $10 | $5 | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:30 |
From 1:1 to 1:100 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 0 points | From 1 point | From 0.6 points | From 0 points |
| Level of margin call / stop out |
100% / 20% | 60% / 40% | 80% / 50% | No / 60% | 100% / 50% | 100% / 50% |
| Execution of orders | STP | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Broker comparison table of trading instruments
| HYCM | RoboForex | Eightcap | Exness | XM Group | Gerchik&Co | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes | Yes |
| ETF | No | Yes | No | No | No | Yes |
| Options | No | No | No | No | No | No |
HYCM Commissions & Fees
Information
HY Markets has been checked by our experts for the existence of trading and non-trading commissions. The company’s spread was considered as a trading commission, and additional fees for withdrawing funds were considered as a non-trading commission category.
| Account type | Spread (minimum value) | Withdrawal commission |
| Fixed | From $18 | No |
| Classic | From $12 | No |
| Raw | From $1 | Yes |
No swaps. We have also conducted a comparative analysis of trade commissions at HYCM (HY Markets) with its competitors. Based on this comparison, each brokerage company was assigned a level according to this criterion: low, medium or high.
| Broker | Average commission | Level |
| HYCM | $12 | High |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | Medium |
Detailed Review of HYCM
HYCM is one of the leading companies that provides services at the Forex market worldwide. The broker’s length of service is 40 years. It responsibly approaches the fulfillment of the assigned tasks, offering traders-customers the latest products for trading. Fast data transfer, convenient trading platforms and following innovations - these are the characteristic features of the broker.
The regulator for hycm com is the UK Financial Conduct Authority (FCA, 186171), the Cyprus Securities and Exchange Commission (CySEC, 259/14), the Dubai Financial Services Authority (DFSA, F000048) and the Cayman Islands Monetary Authority (CIMA, 1442313). All this is a guarantee of reliability for a trader.
HYCM is a suitable broker for both beginner and experienced traders
HYCM (HY Markets) is one of those brokers that combine a wide range of functionality for customers, technical effectiveness and reliability. The company offers many training materials that will allow beginner traders to get comfortable with Forex trading. You can choose one of three types of accounts with the broker; the minimum deposit is 100 US dollars.
The company is suitable for experienced traders who choose different types of trading strategies: automated trading with the help of advisers, trading the news. It is also suitable for long-term and medium-term strategies, since there are no swaps. Fast execution of orders (Market Execution, Instant Execution) is another characteristic feature of HYCM brokerage company. On average, each order is executed in 12 ms.
Traders working with the broker trade through MetaTrader 4 and MetaTrader 5 popular terminals. The mobile platform is also available. Owners of smartphones and tablets with Android and iOS can work simultaneously from several accounts.
HYCM analytical services:
-
daily market review - fundamental and technical analysis data;
-
economic calendar and market news - to track events that affect the volatility of trading instruments;
-
calculators - for counting points, as well as margin calculator and currency converter.
Advantages:
1
it has been operating at the market for more than 40 years, it is controlled by several regulators. This causes reasonable trust of customers;
2
good liquidity;
3
good trading conditions: three types of accounts, not counting the training one, relatively low spreads - from 0.1 pips;
4
an abundance of trading instruments and 5 types of investments: you can trade stocks, cryptocurrency, currency pairs, futures for oil, precious metals, natural gas, etc.;
5
an abundance of training materials allows the novices to make themselves at home quickly and start making money at the foreign exchange market;
6
protection against negative balance (gap) - will not allow the trader to drain the deposit;
7
you can trade with the help of advisers - it allows you to use all the advantages of automated trading;
8
hedging is allowed - provides the opportunity to reduce risks.
How to Start Making Profits — Guide for Traders
HYCM (HY Markets) offers to open several types of accounts at one’s choice. The standard currency for replenishment is euro, dollar, pound and rouble. In addition, the company offers to open a VIP account. Traders can use the services of a personal manager on such accounts, and a more complete analysis of the market is available to them. In addition, more favorable spreads are provided for fixed VIP accounts.
Types of accounts:
Account Type
Description
Fixed
an account with a lot size of 0.01 and a minimum deposit of
100 US dollars. There are no swaps on this type of account, while spreads are fixed - from 1.8
pips. Replenished without commission;
Classic
with the same minimum deposit and lot size as for Fixed, no
swap. It is distinguished by a lower spread (fixed and floating) - from 1.2 pips, as well as the
ability to use expert advice. There is no commission for replenishing a classic account;
Raw
a minimum unit of trading on this type of account is 0.01
lots, there are no swaps and it is possible to use the advice of expert analysts. This account
has the lowest, in comparison with other accounts, net spread - from 0.1 pips. However, the
replenishment amount already starts from 200 US dollars the broker takes a commission for
depositing funds – 4 US dollars.
Before opening an account, a trader has the option to become familiar with the capabilities of the broker and evaluate the functionality of the platform by using their free demo account. For traders who have not yet decided on the type of account, the company offers to go through a small survey to help make a decision.
HYCM provides both classic MT4 and MT5 trading terminals and the mobile platform for trading. The broker offers bonuses for a comfortable start. They cannot be withdrawn, but can be used in trade.
Investment Education Online
Information
HYCM website has a large training section where every trader can get information for successful trading at Forex and more. The broker provides information on the basics of analytics, trading strategies, and also offers training courses, tutorial videos. The company also holds webinars.
Materials available in the Training section
Unavailable information at the HYCM site
Analysis of trading tools, market psychology, terminology, money
management, types of orders, technical and fundamental analysis, etc.
There is no detailed analysis of each question in the articles at the
site
Basics of working with MetaTrader 4, adding indicators, etc.
Trading strategies
E-books on Forex, Goods, CFDs and Stocks
Webinars and trainings: schedule of new and old - on record
How to open an account
To put into practice, the knowledge gained at HYCM, the brokerage company experts advise opening a demo account to practice. This will give novice traders the experience and skills to trade on a live account.
To support traders a separate analytical section has been created at the site with an economic calendar, news and market overview.
Security (Protection for Investors)
Information
HYCM is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA).
HYCM carries out financial activities with its Regulations and with the requirements of the regulators. This provides the company’s customers with clearly defined rights and obligations, and also guarantees the safety of monetary assets.
👍 Advantages
- Customer deposits are kept separately from the company's funds: they are not available for the use by the broker
- Protection against negative balance
- Disputes are resolved by involving an independent person
- If the broker is unable to provide additional financial services as a result of circumstances, its clients will receive compensation
👎 Disadvantages
- Regulators do not consider claims of private traders trading insignificant amounts
Withdrawal Options and Fees
-
There are 5 options for replenishing and withdrawing money: bank transfer, Visa and MasterCard bank cards, as well as WebMoney, Skrill and Neteller e-wallets.
-
Money is credited to bank cards and electronic wallets within an hour.
-
Withdrawal to a bank account is carried out within 1–5 days.
-
Minimum withdrawal amount: 300 US dollars to a bank account, 20 US dollars to a card and electronic wallets.
-
Withdrawal currencies: EUR and USD - for all payment systems. Additionally, GBP and AED can be withdrawn to bank cards, and GBP and AED can be withdrawn to bank accounts.
-
To withdraw amounts exceeding 5,000 US dollars to your e-wallets, you will need to pay an additional fee of 1%.
Customer Support Service
Information
The company's customer service is ready to answer customer’s questions and help traders around the clock 5 days a week.
👍 Advantages
- Many options for communication
- Multilingual support
- The site has a section with answers to the most popular questions.
- You can ask a question without being a broker’s customer
👎 Disadvantages
- Does not work on weekends
There are several ways to contact customer service:
-
directly by phones indicated at the site;
-
by email;
-
in the online chat at the broker's website;
-
on popular apps: Facebook, Viber, Skype, WhatsApp and Telegram;
-
using the callback form.
Customer service is available from HYCM website (hycm.com) and from your personal account.
Contacts
| Foundation date | 1997 |
| Registration address | 47, Spyrou Kyprianou Avenue, The Noble Center, 4th Floor, Mesa Geitonia, CY-4003 Limassol |
| Regulation |
FCA, CySEC, CIMA, DIFC Licence number: 186171, 259/14, 1442313, F000048. |
| Official site | hycm.com |
| Contacts |
Email:
accounts@hycm.com,
support@hycm.com,
Phone: + 44 - 208 - 816 - 7812 |
Review of the Personal Cabinet of HYCM
To make it easier for you to start working with HYCM broker, we suggest that you familiarize yourself with the following information.
1
You can login to your HYCM Personal account from the main page of the broker's website. To do this, just click Login.
2
To authorize, you have to enter your email address and password.
3
If you have not opened an account with the broker yet, click on Create a live account and go through the registration. You will also need to go through the verification of the passport data.
4
After registration / authorization, you can replenish your account, download and start MT4 or MT5 terminal, install the Henyep-Live server and start trading.
5
In your Personal account you can choose a trading instrument, use the broker’s bonuses, withdraw funds.
In addition, you will find the following in your Personal account at HY Markets:
-
fresh analytical data;
-
statistics on the trade with the help of advisers;
-
statistics on the effectiveness and profitability of affiliate programs;
-
useful educational information;
-
access to the history of trading operations and replenishment-withdrawal of funds;
-
current quotes;
-
customer service for professional advice.
Disclaimer:
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Find out how HYCM stacks up against other brokers.
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FAQs
Do reviews by traders influence the HYCM rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about HYCM you need to go to the broker's profile.
How to leave a review about HYCM on the Traders Union website?
To leave a review about HYCM, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about HYCM on a non-Traders Union client?
Anyone can leave feedback about HYCM on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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