HYCM offers a demo account funded with $50,000 in virtual cash, which remains active for 14 days. It uses the MT4 platform and can be opened in USD or EUR currencies. It is also easy to upgrade to a real-money account after the expiry. Rates, terms, products and services on third-party websites are subject to change without notice.
I have to admit that their iOS app is definitely way more user-friendly than their android one. 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’s trading academy is a group of dozens of videos of varying lengths. Advanced traders and beginners who want a well-rounded Forex background will also find a section with videos on trading tools.
- Our HYCM broker review team feels that this indicates a high degree of financial responsibility and financial durability.
- It is very user friendly with a simple layout and modern interface for quick and easy trading from within the palm of your hands.
- Here are some of the most popular forex pairs from the most traded majors like EUR/USD to exotic pairs.
- The effect of leverage on profits and losses magnifies them in both directions.
- When we called, the team answered our call promptly, in less than a minute.
What Can You Trade on HYCM’s Platform?
There are also offices in Limassol, Cyprus; Dubai, the United Arab Emirates; Sharq, Kuwait; Hong Kong; and the Cayman Islands. 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. 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.
The general rule is that as the volume of a selected trading instrument increases, the client will be granted access to lower maximum leverage. The different leverage ratios depending on the asset class, jurisdiction and trading platform are visualized below. In 2014, HYCM (Europe) Ltd was granted a license by the Cyprus Securities and Exchange Commission (CySEC), allowing it to reach out to customers based in several European countries.
- HYCM offers educational resources to support traders at various skill levels.
- In an unfavourable market move, leverage can result in a loss that exceeds the trader’s account balance, leaving them with a negative account balance.
- Our team of FX experts has placed HYCM side-by-side with the standard average, and we found this online CFD provider to have higher commissions.
- HYCM offers a comprehensive suite of educational resources tailored to support traders at all levels.
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. The broker shows a lot of quality in executing trades for its clients very quickly. I admit that the broker’s credibility and reliability is on the highest level.
Withdrawal Fees
Affiliates earn CPA-based commissions, IBs receive rebates from referred clients, and White Label Partners can negotiate tailored compensation plans. Each program provides a unique earning structure depending on the level of involvement and client referrals. In Dubai, HYCM Capital Markets (DIFC) Limited operates hycm review under the DFSA, further solidifying its reputation for regulatory compliance. Both entities prioritize transparency, accountability, and the protection of client funds. HYCM is regulated by several respected authorities, such as the FCA (UK), DFSA (UAE), and SVG (St. Vincent and the Grenadines), ensuring a secure and reliable trading environment for its clients. HYCM provides support in multiple languages, including English, Arabic, and Chinese, ensuring they can assist traders from a variety of linguistic backgrounds.
Islamic Account Fees
As a trader, you should feel confident that your financial investments are in good hands with hycm. So take the time to research hycm thoroughly and make the most of your online investing experience. Online investing with hycm can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial.If considering trading financial assets with hycm, evaluating the hycm platform is important.
Currency pairs
On the other hand, the limited asset selection and the fact that scalping is not allowed could be a downside for some traders. With these diverse learning materials, HYCM ensures traders have the tools and knowledge needed to build their skills and trade with confidence. In terms of funding methods, HYCM offers numerous payment methods which are a very good plus, yet check according to its regulations whether the method is available or not. Cryptoasset investing is highly volatile and unregulated in some EU countries.
With ultra-fast trade execution, custom settings, and in-app fund management, the app is built for simplicity, speed, and full control, right from your smartphone. HYCM stands out as a well-established, globally regulated broker with a solid reputation. Its low spreads, fast trade execution, and wide instrument range make it a reliable option for serious traders seeking both performance and peace of mind. With various account types, over 300 trading instruments, and fast execution speeds, it supports scalping, long-term trading, and everything in between. When it comes to the availability of charting and trading tools, you will find many through the HYCM trading platforms provided.
Your account will be activated after everything is verified and your deposit is confirmed. You’ll then get access to the trading platform with your login credentials. Introducing Brokers can benefit from multi-level rebate tiers, free market reviews, and local office support. Commissions are earned through rebates based on the number of clients referred to HYCM, making it an excellent opportunity for those with a strong network. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on ForexBrokers.com.
With research, the broker supports a number of features and functions that can provide you a good degree of market insight. These include their dedicated “Press Room” where you can find news articles, interviews, commentaries, and more about the market. The mobile platforms incorporate a handy chat function on top of the majority of the same great features to be found in the desktop and web-based versions. A HYCM VIP Account is available for those who are trading large volumes. This account type features many benefits based on your status and how much you are trading. For clients adhering to Islamic finance principles, Swap-Free Accounts are also available, ensuring compliance with Sharia law by eliminating overnight interest charges.
HYCM operates under multiple regulators, including the 🇬🇧 Financial Conduct Authority (FCA) and 🇦🇪 Dubai Financial Services Authority (DFSA). This multi-jurisdictional oversight ensures strong client protection and operational transparency. First, on language availability you will be glad to find that the broker supports a wide range of global languages. This includes Swedish, English, Polish, German, French, Italian, Spanish, Arabic, Vietnamese, Russian, Czech, Persian and Chinese.
Written by the company
For example, if they trade in times of low liquidity on the market. Because at such times, the widening of the floating spread happens very often. I think that all hycm reviews should be based on a lot of trading experience, because it is hard to write a full honest broker review if you have been trading with them for 1 month.
Additionally, with a low minimum deposit requirement, it is accessible to traders of all levels, making it a solid choice in the brokerage market. The HYCM Desktop MetaTrader 5 platform provides traders with enhanced functionality and more advanced features compared to MT4. MT5 offers 21 timeframes, giving traders a broader range of charting options for detailed market analysis.