HYCM Broker Review: A Comprehensive Guide for Savvy Traders

Navigating the complex world of online trading can feel overwhelming, especially when choosing the right broker. HYCM, with its established presence and diverse offerings, has caught the attention of many. But is it the perfect fit for you? This comprehensive review delves into every aspect of HYCM, equipping you with the knowledge to make an informed decision.

Summary Table





Account Types

Classic, Fixed Spread, Raw

Minimum Deposit



Up to 1:500


0.1-1.5 pips

Trading Platforms

MetaTrader 4, MetaTrader 5, HYCM Trader

Asset Coverage

300+ instruments (Forex, Commodities, Indices, Stocks)


Webinars, Tutorials, Video Guides

Customer Support

24/5 Live Chat, Email, Phone

Company Overview

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HYCM, established in 1999, is a global forex and CFD broker regulated by top-tier authorities like the FCA, SFC, and CySEC. They cater to traders of all experience levels with a range of account types, platforms, and educational resources.

HYCM Account Types and Features

HYCM offers three main account types: Classic, Fixed Spread, and Raw. Each comes with its own minimum deposit, leverage options, and spread characteristics.

A. Overview of different account types offered by HYCM:

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  • Fixed account: Best for fixed spread trading.
  • Classic account: Best for day traders. 
  • Raw account: Best for low spreads

Also, if you are confused and want to trade live, you can open a live account. Besides all of these, if you want a VIP service such as a dedicated account manager, or better spreads, you can also apply for a VIP account.

B. Minimum deposit requirements:

Low minimum deposits are a plus for HYCM, starting at $20 for all account types. This low minimum deposit amount helps novice traders start trading with them.

C. Leverage options and margin requirements:

HYMC offers up to 1:500 leverage for all account types. This is also a market standard leverage limit.

How To Open An Account With HYCM?

Opening an account with HYCM is a straightforward process. Simply visit their website, open the login page, complete the online application, and submit the necessary documents. The verification process is usually quick, allowing you to start trading within hours.

How To Deposit Money In HYCM?

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They offer a variety of convenient deposit methods, including credit/debit cards, bank transfers, and e-wallets. Deposits are typically processed instantly or within a few business days.

How To Withdraw From HYCM?

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Withdrawals are equally convenient and processed through the same methods as deposits. They do not charge withdrawal fees, but processing times can vary depending on the chosen method.

Trading Platforms

HYCM provides access to three popular trading platforms.

A. Exploration of the trading platforms supported by HYCM:

  • MetaTrader 4: Their MT4 platform is the industry standard, known for its extensive customization options and a vast array of indicators.
  • MetaTrader 5: The next-generation platform offering advanced features like multi-asset trading and built-in hedging tools.
  • HYCM Trader: A user-friendly mobile app for on-the-go trading with basic features and intuitive navigation.

B. User interface and ease of navigation:

All platforms are well-designed and easy to navigate, even for beginners. MetaTrader offers more customization options, while HYCM Trader prioritizes simplicity for mobile trading.

C. Compatibility with various devices:

Its platforms are compatible with desktop computers, web browsers, and mobile devices (iOS and Android). This flexibility allows you to trade from anywhere, anytime.

Asset Coverage

HYCM offers over 300 instruments across various asset classes, including:

  • Forex: Trade major, minor, and exotic currency pairs with variable or fixed spreads.
  • Commodities: Speculate on the price of gold, oil, silver, and other commodities.
  • Indices: Gain exposure to major global indices like the S&P 500 and FTSE 100.
  • Stocks: Trade CFDs on popular individual stocks from various countries.

Forex pairs, commodities, indices, and cryptocurrencies:

While this broker doesn’t offer cryptocurrency CFDs in all jurisdictions due to regulations, their forex, commodity, and index offerings are ample. They provide competitive spreads and deep liquidity on major pairs and instruments, especially in forex.

Regulatory Compliance and Security

A.Overview of HYCM’s regulatory status and licenses:

Top-tier financial authorities, including the FCA in the UK, the DFCA in Dubai, and CySEC in Cyprus regulate HYCM. This provides traders with the assurance of transparency and regulatory oversight. So, if you think about “Is HYCM Legit or Regulated?”, the answer is yes.

B. Compliance with international financial regulations:

HYCM adheres to strict financial regulations, including segregation of client funds, risk management procedures, and KYC/AML policies. This protects client funds and ensures the integrity of the trading platform.

C. Security measures implemented to safeguard client funds and personal information:

HYCM employs advanced security measures like SSL encryption, firewalls, and intrusion detection systems to protect client data and financial information. Additionally, client funds are held in segregated accounts with leading banks, further protecting them from potential misuse.

Fees and Commissions

HYCM’s spreads are generally competitive with industry standards, particularly for major Forex pairs. However, some alternative brokers might offer slightly tighter spreads for specific instruments.

HYCM does not charge any deposit or withdrawal fees. There are no hidden fees. However, traders should be aware of potential inactivity fees (charged after 90 days of inactivity) and rollover fees (charged for holding positions overnight).

Customer Support

HYCM offers comprehensive customer support available 24/5 through live chat, email, and phone. Their multi-lingual team is responsive and helpful in addressing any queries or concerns.

Educational Resources

HYCM prioritizes trader education, offering a wide range of online resources, including:

  • Webinars: Cover technical analysis, trading strategies, and market updates.
  • Tutorials: Explain basic and advanced trading concepts clearly and concisely.
  • Video Guides: Provide visual demonstrations of platform features and trading strategies.

Pros and Cons



  • Regulated by top-tier authorities
  • No cryptocurrency CFDs in all jurisdictions
  • Diverse range of assets with good liquidity
  • Fixed Spread account minimum deposit might be high for some beginners
  • Competitive spreads and fee structure
  • Educational resources could be further expanded in some topics
  • User-friendly trading platforms
  • Multi-lingual customer support
  • Rich educational resources

HYCM Reviews and Client Reviews

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Client reviews of HYCM are generally positive, highlighting their reliability, user-friendly platform, and helpful customer support. However, some reviews mention drawbacks like limited educational resources in certain languages and the lack of cryptocurrency CFDs in all jurisdictions.

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Comparison Between HYCM and Other Brokers

Here is a summarized comparison of HYCM with two other prominent brokers such as  Pepperstone and eToro. You can read the full Pepperstone and eToro reviews to know more about these companies.













Minimum Deposit




Mobile Trading









If Anything Unwanted Happens, Contact Us:

HYCM always helps their clients to solve any kind of problems they face. They have a good customer service section and educational instruments to help people solve any kind of problem. But, if you face any problem, that is not solvable by HYCM or any unwanted issue with any other broker, you can contact us.

Report Scammed Bitcoin is a consultancy firm, where we provide free consultation for any financial investment incident. If you think you get scammed by any other broker, you can contact us. We will provide you with a free consultation call and service recommendations to help you in recovering the lost funds.


HYCM stands as a reliable and user-friendly option for forex and CFD traders, particularly beginners and those seeking a regulated trading environment. Their diverse asset coverage, competitive spreads, and educational resources cater to a variety of trading styles and experience levels. While some competitors might offer tighter spreads or a wider asset range, HYCM’s commitment to client safety and education should not be overlooked.

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