HYCM Review 2019

HYCM Rated 4/5 ★★★★☆
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HYCM Guide

HYCM are an online broker founded in 1977 offering Forex trading, and CFDs trading.

HYCM are a global broker and have multiple offices around the world including a head office in UK.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of HYCM we break down the pros and cons. What HYCM are able to offer, what countries HYCM are available in. Who HYCM are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with HYCM

  • 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
  • Headquarters Country : UK
  • Foundation year 1977
  • Min Deposit : 100
  • Used by over 10,000 traders
  • HYCM is not available in the following countries : US
Open HYCM's Website

Losses can exceed deposits

At the bottom of this review you can also learn about some pretty good alternatives to HYCM

With this review we hope to help you see if HYCM is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding HYCM that will help you get off to a good start in the world of online trading.

HYCM Review Table of Contents

HYCM what you should know

HYCM Screenshot

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

Losses can exceed deposits

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

Broker HY Markets XTB Pepperstone eToro
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

What we like about HYCM

  • Used by over 10,000 traders
  • Established in 1977
  • 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
  • Min. deposit from $100

What we don't like about HYCM

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.

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 XTB Pepperstone eToro
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.

Losses can exceed deposits

Broker HY Markets XTB Pepperstone eToro
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 platforms

HYCM 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 XTB Pepperstone eToro
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 XTB Pepperstone eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
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 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

Losses can exceed deposits

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.