HYCM what you should know
HYCM offer two ways to trade: Forex, CFDs.
With HYCM you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with HYCM platform.
HYCM are able to accommodate various levels of traders whether you are experienced or a beginner.
Are HYCM safe?
When choosing a broker like HYCM the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.
Established in 1977, and in operation for 42 years HYCM have a head office in UK.
HYCM is regulated. This means HYCM are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 regulatory bodies.
Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HYCM, this will be honored. If HYCM violate any regulatory rules their regulated status could be stripped.
Any payments funded to HYCM accounts by traders are held in a segregated bank account.
For added security HYCM use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.
Try creating two accounts when you are working with HYCM. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.
Open a demo account Visit HYCM
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Broker |
HY Markets
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XTB
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Pepperstone
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eToro
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Year Established | 1977 | 2002 | 2010 | 2006 |
Head Office | UK | Poland | Australia | Cyprus, UK |
Regulation | Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) |
Used By | 10,000+ | 250,000+ | 10,000+ | 10,000+ |
Negative balance protection | No | Yes | Yes | No |
Guaranteed Stop Loss | No | Yes | No | No |
Learn More | Visit HYCM | Visit XTB | Visit Pepperstone | Visit eToro |
Risk Warning | Losses can exceed deposits | Your capital is at risk | Your capital is at risk | 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
HYCM Pros and Cons
HYCM Financial Regulation and Supervision in more detail
We have checked and HYCM is regulated and supervised by reputable organisations. You are able to check every HYCM supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with HYCM. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.
The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect HYCM traders and provide a safe trading environment.
- Financial Conduct Authority (FCA)
- FCA reference number 186171
- Cyprus Securities and Exchange Commission (CySEC)
- CySEC license number 259/14
- Cayman Islands Monetary Authority (CIMA)
- CIMA reference number 1442313
- Dubai financial services authority (DFSA)
- DFSA license number 000048
HYCM is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as HYCM you should be sure they're legitimate online agent.
HYCM Awards
HYCM have won numerious industry awards over the 41 plus years they have been operating as a financial broker. We list the most notible awards and mentions for HYCM below.
- FXDailyInfo Best Forex Broker Europe 2017 Winner
- World Finance Best Broker Middle East 2017 Winner
- Global Brands Magazine Best Forex Broker Dubai 2017
- World Finance Best Mobile Trading Platform 2017 Winner
- FX Report Best Retail Platform 2015
HYCM General Fees
- HYCM withdrawal fees varies on payment method
- HYCM does charge inactivity fees
- HYCM doesn't charge deposit fees
Broker |
HY Markets
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XTB
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Pepperstone
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eToro
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Min Deposit | 100 | 0 | 200 | 200 |
Withdrawl Fees | Varies | varies | No | Yes |
Inactivity Fees | Yes | No | Yes | Yes |
Deposit Fees | No | No | No | No |
CFD Commission Fees | No | Yes | Yes | No |
HYCM Commissions
- HYCM doesn't charge commission on CFD shares.
What can you trade with HYCM?
You can trade a wide variety of instruments with HYCM over 100 instruments infact.
If you are looking at trading currency pairs HYCM offer over 40 currency pairs.
Compare HYCM with XTB and Pepperstone below.
Broker |
HY Markets
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XTB
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Pepperstone
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eToro
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Instruments Available | 100 | 1,500 | 100 | 100 |
Platforms | MT4, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
FX / Currencies | Visit HYCM | Visit XTB | Visit Pepperstone | Visit eToro |
Forex pairs offered | 40 | 50 | 70 | 50 |
Major forex pairs | Yes | Yes | Yes | Yes |
Minor forex pairs | Yes | Yes | Yes | Yes |
Exotic forex pairs | Yes | Yes | Yes | Yes |
Cryptocurrencies | Yes | Yes | Yes | Yes |
Commodity CFDs | Visit HYCM | Visit XTB | Visit Pepperstone | Visit eToro |
Commodities Offered | 10 | 21 | 16 | 0 |
Metals | Yes | Yes | Yes | Yes |
Energies | Yes | Yes | Yes | Yes |
Agricultural | Yes | Yes | No | Yes |
Indiced & Stock CFDs | Visit HYCM | Visit XTB | Visit Pepperstone | Visit eToro |
Stocks Offered | 10 | 1696 | 60 | 957 |
UK Shares | No | Yes | No | Yes |
US Shares | Yes | Yes | No | Yes |
German Shares | No | Yes | Yes | Yes |
Japanese Shares | No | Yes | No | Yes |
Trading on HYCM web platforms and other applications
HYCM offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.
HYCM also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.
See HY Markets's platformsHYCM Trading benefits :
- Allows scalping
- Allows hedging
- Low min deposit
HYCM Trading Accounts Offered :
- Micro account
- Mini account
- Standard account
- Islamic account
Can I try HYCM before I buy?
HYCM offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade
What funding and withdrawl methods do HYCM accept?
HYCM offer the below funding payment methods. learn more about HYCM
- Credit cards
- Bank Transfer
- PayPal
- Skrill
- Payoneer
- Neteller
Broker |
HY Markets
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XTB
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Pepperstone
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eToro
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Bank transfer | Yes | Yes | Yes | Yes |
Credit Cards | Yes | Yes | Yes | Yes |
Paypal | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes |
Payoneer | Yes | Yes | Yes | Yes |
Neteller | Yes | Yes | Yes | Yes |
How can I start trading with HYCM?
When opening a trading account with HYCM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HYCM trading platforms here.
Performing trades with HYCM
With HYCM, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As a market maker, HYCM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.
Education resources at HYCM
To trade effectively with HYCM, it's important to get a have a good understanding of the XTB trading tools and the markets.
HYCM offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.
Having an analytical approach may be a good way to approach trading with HYCM.
Take time to look around the HYCM platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.
Support at HYCM
HYCM support a wide range of languages including English, Chinese, Chinese (Traditional), Arabic, and Russian
HYCM have a triple AAA grade support rating because they offer a wide range of languages, live chat and email support.
Broker |
HY Markets
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XTB
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Pepperstone
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eToro
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Support |
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Languages | English, Chinese, Chinese (Traditional), Arabic, and Russian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, German, Spanish, French, and Italian |
Learn More | Visit HYCM | Visit XTB | Visit Pepperstone | Visit eToro |
Risk Warning | Losses can exceed deposits | Your capital is at risk | Your capital is at risk | 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
What you will need to open an account with HYCM
As HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these 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 confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore HYCM's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with HYCM you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.hymarkets.com/ on 12th August 2018.
Watch this HYCM Informational Video
HYCM Bottom Line
- HYCM have a good track record of offering Forex, CFDs.
- HYCM has a history of over 41 years.
- HYCM has a reasonable sized client support call center of at least 10.
- HYCM are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048. This means HYCM fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- HYCM have regulation from a Tier 1 reputable country.
- HYCM has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- HYCM have an international presence in multiple countries. This includes local HYCM seminars and training.
- HYCM are able to hire people from various locations in the world who can better communicate in your local language.
HYCM Risk Disclaimer
Losses can exceed deposits
HYCM not quite right?
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Related HYCM Comparisons
If you would like to see how HYCM stands up against other brokers you can read some of our HYCM comparisons below. We compare side by side some of our top rated HYCM versus comparisons. Read some indepth HYCM VS pages below.
- HYCM vs XTB
- HYCM vs Pepperstone
- HYCM vs eToro
- HYCM vs FXPrimus
- HYCM vs TeleTrade
- HYCM vs Plus500
- HYCM vs FPMarkets
- HYCM vs Forex.com
- HYCM vs AvaTrade
- HYCM vs CityIndex
- HYCM vs ICMarkets
- HYCM vs Trading212
- HYCM vs EasyMarkets
- HYCM vs AdmiralMarkets
- HYCM vs FXPro
- HYCM vs XM
- HYCM vs Axitrader
- HYCM vs ThinkMarkets
- HYCM vs PaxForex
- HYCM vs SpreadEx
- HYCM vs Swissquote
- HYCM vs Markets.com
- HYCM vs ForexMart
- HYCM vs ForTrade
- HYCM vs OctaFX
- HYCM vs NordFX
- HYCM vs Eightcap
- HYCM vs Roboforex
HYCM Frequently Asked Questions
Can I try HYCM before I buy?
HYCM do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here
What funding methods do HYCM accept?
HYCM offer the following funding payment methods accept Credit cards, Bank Transfers, PayPal, Skrill, Payoneer, Neteller, Wire Transfer, among other payment methods.
Learn more here
How can I start trading with HYCM?
When opening a trading account with HYCM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HYCM trading platforms here.
Is my money safe with HYCM?
HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048. One of the most important criteria for traders when choosing a broker like HYCM is the regulatory body and regulatory status of the broker.
Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.
Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HYCM, this will be honored.
If they violate any regulatory rules their regulated status can be stripped.