8 /10
Overall Rating

HYCM Review

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Read this HYCM broker review before opening your account. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets Forex broker review of HYCM. 

HYCM is an online retail broker that earned several awards from global bodies. Traders can trade forex, stocks, commodities, indices and cryptocurrencies through this broker.

We have carried out an extensive review of this company and found it legit and recommendable. This broker is famous for experience and customer support, along with some other unique trading features. Therefore, they provide a great variety of markets and products.

Overview

Company
8 /10
Trust
8 /10
Trading Platform
8 /10
Account Types
8 /10
Cyptocurrency
8 /10
Costs
8 /10
Customer Support
8 /10
Regulation
8 /10

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For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this HYCM broker review. Please go through this article on how we conduct our broker reviews.

Company

8 /10

HYCM has 40 years of experience in the forex industry. It was established in 1977. It already has a long track record and outstanding trading experience for its global customers. It provides the clients everything required in making calculations in trading decisions. 

The mother company of HYCM is the Henyep Capital Markets Group, which is a globally recognized company in investments in property, financial services, and education. HYCM is regulated by some internationally recognized financial regulators, including CySEC and FCA. It operates its business in the United Kingdom, Hong Kong, Dubai, and Cyprus. Customers are getting a better service from them, which makes their background robust and reliable.

HYCM has gained a lot of recognition and awards for its outstanding service. Of the two recent awards are the Best Forex Broker award (UAE 2017) provided by the Global Banking and Finance Review and Best Mobile Trading Platform (2017) awarded from the World Finance. Later on, HYCM also wins the Best Forex Broker 2018 (World Finance). HYCM worked as an industry leader and it helps the company to remain on the top list among the global forex brokers. 

Trust

8 /10

HYCM is a Multi-awarded broker and backed by the experienced forex trading platforms that are in operation for more than 30 years. Many award-giving bodies have recognized HYCM for being the Best Forex Broker and having the Best Trading Platform.

Trading Platform

8 /10

HYCM provides easy access to the forex market anytime and anywhere through its web-based trading platform. Moreover, it has industry-leading MetaTrader 4 and HY MT4 Mobile platforms. Additionally, they have Prime Trader, which is a brand new multi-asset, flagship platform. 

MetaTrader 4 & MetaTrader 5

MetaTrader 4 is a leading, world-renowned trading platform. It has live market news, advanced charting and analytical tools such built-in economic calendar, expert advisors, and trading central analysis support with 24/7 customer help. Traders can enjoy more than 40 free indicators with compatibility with thousands of free and paid indicators. Many advanced charting tools make the MetaTrader 4 Handy and user-friendly. Moreover, both MetaTrader 4 & MetaTrader 5 is available in Windows, Mac, IOS, and android. MetaTrader 5 has some more advanced charting tools that help the trader to analyze more perfectly.

Account Types

8 /10

HYCM offers 3 types of accounts - Fixed, Classic, Raw. Premium accounts are for the VIP Personal Dealer Service that provides a cutting-edge service to access all markets.

The Fixed Account is ideal for traders who are new to the industry. It requires a minimum deposit of $100 only. For Classic account, a deposit of at least $100 is needed and that is suitable for traders experienced traders. HYCM provides its clients in the UK and EEA up to 1:30 leverage as per ESMA regulations. Other clients can enjoy leverage up to 1:200 while trading with HYCM.

HYCM review

Cryptocurrency

8 /10

Traders can trade the top 5 cryptocurrencies through this broker, including the Bitcoin, Litecoin, Ethereum, and Ripple. It provides 1:20 maximum leverage for crypto trading.

Costs

8 /10

Customers only need a minimum deposit of $100 to start trading with HYCM without any charge. However, if the withdrawal amount is less than $300, the customer has to pay $30 as a transaction fee. This only applies to Bank Wires. All other withdrawal method charges are covered by HYCM.

Moreover, in its forex account, they charge 4$ commissions with a floating spread from 0.2 pips. However, the classic and Fixed accounts don't have any commission.

Customer Support

8 /10

The customer support of HYCM is available for 24/5 via email, webchat and telephone calls in their London-based phone numbers.

Regulation

8 /10

HYCM is headquartered in London, UK. Henyep Investment (UK) Ltd got its license from the UK’s FCA in 1998. Later on, going with the growth of technology in 2007, Henyep Investment (UK) Ltd launched the HY Markets online trading platform. Moreover, HYCM works as a division of Henyep Capital Markets that has an operational history of 30 years in foreign exchange and CFD's on commodities, metals, indices, and treasuries. In 2015, HYCM got the CySEC regulation that was a milestone for the company to operate its business in Europe.

Moreover, HYCM Ltd is also regulated under the CIMA and Dubai Financial Services Authority (DFSA). 

Conclusion

HYCM has been around for decades and its performance doesn’t seem like it is going away soon. If you are very cautious about where to invest your funds, you should choose HYCM as it is reliable in terms of regulation and funds safety.

Reviewed By

Our Broker Review methodology

Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers. Vetted by multiple industry experts - including a financial research firm with more than 20 years of experience in broker ratings - Our Broker Ratings and Reviews embody industry best practices for research design.

See how we conduct review
  1. Pol Villalpando says:

    When you read some hycm reviews you immediately get a positive impression of the company. But you still have doubts about whether everything is all right here. But when you do decide to work here, you are one of the lucky ones who have found a company with loyal but reasonable conditions. Because even the limitations that exist here (no bonuses, for example) make sense here and make sense. I recommend it.

  2. Pablo Koepp says:

    When you choose a company, you have doubts anyway, even if you have found good references and confirmation that the company is doing OK. We realise, however, that building a positive reputation is not a difficult task at all these days.
    But now that I have worked here for more than 2.5 years, I can say with confidence that this is true, because this company does not just create a positive reputation, it really works for people and for people – and that leads to the fact that once you start working here, you cannot think about other companies at all – you see prospects and opportunities for development – that is really important.
    It is also a place where you can learn. But there is only one question I still haven’t sorted out – raw spreads? Can you tell me how they differ from the others and how I can use them to maximise my capital? I would be grateful for any answer.

  3. Tushar Deep says:

    I’m lucky to have discovered this broker. It’s so weird that I had been overlooking this company for such a long period, but it turns out that they have been operating on the market for a long time – up to forty years. That’s a mind-blowing experience. This fact undoubtedly points to a very high reliability of this broker.
    It made me rush to their site and sign up. I opened a Raw account because it offers very low spreads. A week of trading with this broker gave me a positive impression. So, I decided to continue trading with it. Any bonus can’t be more crucial than ultimate reliability.

  4. Aron Trantow says:

    What is your impression of the HYCM mobile app? Is it worth downloading? Are there any useful features?

  5. Jefri Waskita says:

    I joined this broker after I studied many hycm reviews. The company intrigued me because while I was reading reviews about this brokerage company, a certain picture was formed in mind and it was a positive image. I should say that previously I had an opportunity to work with many brokers. Unfortunately, not all of them are reliable enough. It mostly applies to those who offer very low minimum deposits and tons of bonus promotions. As a rule, such brokers aren’t regulated, which results in tough liquidity issues. What does it mean for a trader? Well it means that you will be struggling to enter the market at the desired price. The broker will reject many of your attempts. If you try to reach out to their customer support, in most cases, they explain that with temporary technical issues but that happens over and over again.
    Once I felt that I was fed up with that I started looking for a reliable broker. I thought that such a broker should be a 100% veteran broker and I was right.
    HYCM belongs to this category and it met my expectations. Unlike those brokers mentioned above, the trading process with this company is very good. I can enter the market as I want, I mean the required price. What’s more, I don’t face issues with withdrawing my earnings.

  6. Kurt Pettersson says:

    “With MT5 I have already figured out, the chart settings are much more accessible. And I like the specific settings, including timeframes… M6, M12, etc.
    But I have not yet figured out the spreads. How did you decide what you need?”

    When deciding on spreads, you need to take into account your trading style and goals you pursue as a trader. Some people like very tight spreads. As a rule, they are available on so-called ECN accounts. With HYCM, it’s a Raw account. Here you can enjoy the tightest possible spreads (0.2). But here you need to pay a commission to enter the market. On the other hand, you should realize that spreads on a Raw account are variable. It means that they may increase in times of volatility and if you don’t monitor your pending orders, some of them may be triggered when you don’t expect it. It’s especially true for exotic currencies. However, if you trade manually, it doesn’t matter because you control the situation.
    If you don’t want your spreads to change, opt for a Fixed account. Here spreads will be much higher (1.8), but they don’t change. That is very suitable if you prefer trading with pending orders – you can place them with peace of mind being aware that your stops will not be unexpectedly blown away.
    So, you should decide what’s better for you: to scalp, enjoying very low spreads, or rely on pending orders. Of course, these different approaches give different feelings. Practice this on a demo account to understand in practice what I mean.

  7. Ingolf Wilhelm says:

    I can’t say that from the first minute I was interested in hycm – on the contrary, I thought it was a real legend that this company has been operating for so many years.
    And then I started to look into it a bit more and found out that it’s really true. And just at this point I got interested because it’s really quite rare for a broker to stay on the market so long and successfully.
    And so what I found out was that of course the fixed spreads are very interesting. It really can significantly speed up and simplify the work.
    And they are not too high 2 points or even a little bit lower – it opens good opportunities for beginners and small capitals.

  8. Nha Dien says:

    Marko Wiesner,
    You can run a joint account with your friend. However, it should be authorized by the company. Contact our customer service.

  9. Marko Wiesner says:

    I trade on a Fixed account with this broker and I like how my market orders are executed. I never see freezes or loss of connection. Their team also quickly processes my withdrawal requests.
    I have one question. My friend is also interested in trading. We’d like to team to run one account. Is it allowed?

  10. Klaus Dieter says:

    I cannot call myself a professional trader. Yes, in the 5 years that I’ve been trading, I’ve learned a lot. Somewhere I’m better at it. I’m worse at it. For example, I trade stocks better than currencies. And cryptocurrencies I can’t understand at all. I can’t explain the reasons for their skyrocketing price.
    But as a trader with some experience, I have learned to notice important, though seemingly insignificant, details. These are the things that make working with a broker more comfortable. HYCM has them. It’s a convenient Personal Account, for example. No, convenient isn’t even the right word in this case. It’s just status-oriented, made with a kind of discreet luxury. Everything is very functional, beautiful, and convenient here.
    And the broker’s mobile app is just as cool. You can read about it in HYCM reviews. It has essential elements. These are notifications about the primary market news, for example. And also the ability to easily manage my account, etc.
    I’m not going to write now about tight spreads, a large number of assets. All this has been written hundreds of times in HYCM reviews. My review is about something else. It’s about the convenience of trading and the company’s incredible attention to detail.

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