CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.

HYCM

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Home » Reviews » HYCM

HYCM Review

HYCM is an online forex and CFD trading platform. They provide traders with access to key markets such as currencies, indexes, commodities, and stocks. HYCM is one of the few brokers that offers cryptocurrency CFDs to traders interested in cryptocurrencies such as Bitcoin.

Pros

  • Segregates client funds
  • Established in 1977
  • Regulated by Financial Conduct Authority, CySEC
  • Min. deposit from $1

Cons

A minimum deposit of $1 is required to establish a live account. Alternatively, HYCM Markets has a demo account that you may use to experiment and become acquainted with their platform.

Regulated by the Financial Conduct Authority in the United Kingdom (FRN: 186171)  and CySEC (license number: 259/14), HYCM places all customer money in segregated bank accounts with tier-1 institutions. HYCM has been in business since 1977.

Before we get into the specifics of HYCM’ spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from them.

VISIT HYCM

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are HYCM’s spreads & fees?

HYCM, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an asset.

The commissions and spreads shown here are based on the HYCM website’s minimum spreads.

ForexHYCMCity IndexXTB
EUR/USD(Average: 0.7 pips)0.2 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0.4 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.2 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.7 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)0.7 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)0.6 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)1.1 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.3 pips0.5 pips0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, HYCM’s minimum spread for trading EUR/USD is 0.2 pips – which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with HYCM vs. similar brokers.

SEE ALL SPREADS

How much does HYCM charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with HYCM at 1.1719 and then sold it the next day at the same price, you would most likely pay $15.1. Here’s a quick summary of the costs and how they compare to XTB and AvaTrade.

HYCMXTBAvaTrade
Spread from:$ 2.00$ 2.00$ 7.00
Commission:$4.00$0.00$0.00
Total cost of a 100k trade:$ 6.00$ 2.00$ 7.00
$4 less$1 more
VISIT HYCMVISIT XTBVISIT AVATRADE

All fees/prices are for informational purposes and are subject to change.

Visit HYCM

What can you trade with HYCM?

HYCM provides over 100 different trading products, including over 70 currency pairings. To compare, we’ve summarised all of the different types of instruments offered by HYCM, as well as the products offered by XTB and AvaTrade.

FX / CurrenciesHYCMXTBAvaTrade
# of forex pairs offered714859
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsHYCMXTBAvaTrade
# of commodities offered102116
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsHYCMXTBAvaTrade
# of stocks offered10160699
UK sharesNoYesYes
US sharesYesYesYes
German sharesNoYesYes
Japanese sharesNoYesYes
SEE HYCM’S INSTRUMENTSSEE XTB’S INSTRUMENTSSEE AVATRADE’S INSTRUMENTS

Visit HYCM

What’s the HYCM trading experience like?

1) Platforms and apps

HYCM provides the well-known MT4 forex trading software. See our MT4 broker comparison for a list of the best MT4 brokers. HYCM also provides a bespoke HYCM platform.

They now provide mobile apps for Android and iOS, making it easy to monitor and make transactions while on the go.

SEE HYCM’S PLATFORMS

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

The minimum and maximum trading criteria at HYCM vary based on the trader and the asset.

As a market maker, HYCM may have lower entrance criteria than an ECN broker, who usually has greater capital and minimum trading requirements due to a higher number of transactions. Market makers usually have a lower minimum deposit and a lower minimum trading requirement and no commission on trades.

Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.

Finally, we’ve included a list of some of the most common financing options that HYCM provides its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Low min deposit

Accounts offered:

  • Micro account
  • Mini account
  • Standard account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • PayPal
  • Payoneer

3) Client support

English, Chinese, Arabic, and Russian are just a few of the languages supported by HYCM.

4) What you’ll need to open an account with HYCM

Because HYCM is regulated by the Financial Conduct Authority and CySEC, every new customer must go through a few simple compliance checks to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is essential to note that you will not be able to execute any transactions until you pass compliance, which can take several days, depending on your situation.

To start the process of opening an account with HYCM you can visit their website here.

HYCM

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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What are you looking for in a broker?

Select the ‘must-have’ features or requirements that are important to you

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

VPS Trading

Zero Spread Account

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

BIGINNER

VPS Trading

Zero Spread Account

How experienced are you at trading?

Select the ‘must-have’ features or requirements that are important to you

beginner

Intermediate

EXPERT