HYCM

HYCM.com, formerly known as HY Markets, is a member of the Henyep Group, an international conglomerate with more than 30 years’ experience in providing financial services. Choosing this broker guarantees peace of mind, as they have an international reputation for reliability and trustworthiness.

HYCM is able to offer traders a wealth of trading opportunities, from stock and commodities to a long list of currency pairs. Both novice and more experienced traders can benefit from the services of such a market leader. With sections of the site dedicated to trader education, a selection of account types, segregated accounts, excellent customer service, a selection of MT4  & MT5 trading platforms, low spreads, and much more, there is bound to be something for everyone.

HYCM has its base in London but is also represented in a number of other countries including Hong Kong, Cyprus, Kuwait, and the United Arab Emirates. The list of its regulatory compliances is pretty impressive, with licences issued by the FCA in the UK, the SFC in Hong Kong, and the DFSA in Dubai. By virtue of their compliance with MiFID, they are also authorised to operate throughout Europe.

HYCM metatrader 5 broker

HYCM licenses:

• Henyep Capital Markets (UK) Limited – authorized by FCA (UK) registration no. 186171
• HYCM (Europe) Ltd – authorized by CySEC (Cyprus) registration no.  259/14
• Henyep Capital Markets (DIFC) Limited – authorized by DFSA (Dubai) registration no. F000048
• HYCM Ltd – authorized and regulated under the Cayman Islands Monetary Authority registration no. 1442313

Platforms

HYCM provides easy access to the world’s capital markets anytime, anywhere through their web-based trading platform, industry-leading MetaTrader 4, or HY MT4 Mobile platforms.

Prime Trader is HYCM’s brand new, multi-asset, flagship platform. It offers multiple markets and products, integrated pricing, charts & trade screens, guaranteed stop/loss available, complete online account management and advanced charting.

HYCM Account Types

Three different account types to choose from, but unfortunately no demo account.

To suit the needs of a broad range of traders, there are currently three different account types to choose from. The lack of a demo account is a little disappointing, but the low minimum deposit means you shouldn’t have to risk too much real money in order to start trading. The three accounts to choose from are as follows:

HYCM Trading Fees and Conditions

There are three primary account types at HYCM to suit the needs of any individual, defined as Fixed, Classic and Raw Spread Accounts. As it is obvious from the names, HYCM uses either a fixed spread model with slightly higher spread, means commissions are not charged on trades. Or as an option to stick with variable nature spreads, or even raw spreads provided by interbank with commission per trade.

Generally speaking, fixed spreads worth considering for those that prefer to rely on stability even during volatile news. Therewith, Islamic trading accounts are available for traders who wish to trade the markets based on Islamic principles.

HYCM overnight fee

HYCM overnight fee or a swap rate determined by the overnight interest rate is involved in a long opened position, whether it is a buy ‘long’ or sell ‘short’. The fee originally varies from the currency to another, as for example EURUSD buy order will equal -3.25%, while selling will add 1.25% respectively.

Also, what you should consider is inactivity fee, meaning HYCM will charge 10$ per month in case trading account has no activity for a certain time.

HYCM Leverage

HYCM leverage actually, depending under which regulation and jurisdiction trading account complies with. The high leverage up to 1:500 opens the path to the smaller retail traders, as a quite small initial deposit will cover margins, yet this level is allowed only for Dubai accounts and those that comply to CIMA (Cayman Islands). The rest, and the majority of HYCM accounts will fall under European ESMA regulation, which recently limited leverage to a maximum of 1:30 for Forex instruments.

HYCM Deposits and Withdrawals

There are plenty of ways to consolidate trading account, as well to withdraw funds from the account further on. HYCM’s clients can use regular bank cards Visa/MasterCard, Wire Bank Transfers and various electronic system WebMoney, UnionPay, Neteller, Skrill, etc.

High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

Disclaimer: The content of this page is for information purposes only and it is not intended as a recommendation or advice. Any indication of past performance or simulated past performance included in advertisements published by HYCM is not a reliable indicator of future results. The customer carries the sole responsibility for all the businesses or investments that are carried out at HYCM.

Regional Restrictions: We do not offer our services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, Japan, the United States of America and some other regions. For more information please refer to our Help Center.