HYCM Capital Markets is a Cyprus-based online broker offering a diverse range of assets, including CFDs on stocks, metals, gold, oil, forex, and cryptocurrencies. Regulated by various authorities worldwide, including CySEC, CIMA, FCA, and the Dubai Financial Services Authority, HYCM boasts over 40 years of cumulative group experience, providing traders with reliability and expertise that set it apart from competitors.
Pros and Cons
Pros
- Low Minimum Deposit: With a minimum deposit requirement of just $20, HYCM offers accessibility to a wide range of traders, from beginners to seasoned investors.
- Competitive Spreads: HYCM boasts a minimum spread of 0.1, ensuring that traders can potentially save on trading costs.
- No Commissions: Trading with HYCM means no additional commission fees on certain account types, allowing traders to keep more of their profits.
- Diverse Asset Selection: This broker provides traders with access to over 1300 assets, including stocks, metals, gold, oil, forex, and cryptocurrencies.
- Mobile App: HYCM offers a mobile app compatible with both Android and iOS, enabling traders to stay connected and make informed decisions on the go.
Cons
- Limited Support Hours: Customer support is available 24/5, which may be less convenient for traders in need of assistance outside regular business hours.
- Restrictions on Service: HYCM does not serve clients from certain countries, including the USA, due to regulatory reasons
Recommended For
HYCM Capital Markets is well-suited for a wide range of traders. Its low minimum deposit of $20 makes it accessible to beginners looking to dip their toes into the trading world without a substantial financial commitment. Seasoned traders will appreciate the competitive spreads and the variety of over 1300 assets available for trading, including cryptocurrencies. The absence of commissions and a mobile app for on-the-go trading are additional advantages. However, it’s worth noting that the limited support hours may be a drawback for those who require assistance outside of regular business hours. Overall, HYCM is an excellent choice for traders globally, with the exception of those residing in countries where the broker’s services are restricted.
Regulated By
- Financial Conduct Authority (FCA) UK
- Securities and Exchange Commission (CySEC) Cyprus
- Financial Services Authority (DFSA) Dubai
- Cayman Islands Monetary Authority (CIMA)
Top Features
- Low Minimum Deposit: With a minimum deposit requirement of just $20, HYCM offers accessibility to a wide range of traders, from beginners to seasoned investors.
- No Commissions: HYCM prides itself on offering commission-free trading on certain account types, allowing traders to focus on potential profits without the burden of extra fees.
- Mobile App: The mobile app ensures that traders can manage their portfolios and make informed decisions on the go.
- Personal Account Managers: HYCM provides personal account managers, offering tailored support to clients, which can be especially valuable for novice traders.
- Multiple Account Types: Traders can choose from Fixed, Classic, or RAW accounts, each tailored to different trading preferences, whether it’s fixed spreads, variable spreads, or raw spreads.
Overview
- Type of Broker MM
- Regulation & Licensing Financial Conduct Authority (FCA) UK, Securities and Exchange Commission (CySEC) Cyprus, Financial Services Authority (DFSA) Dubai, Cayman Islands Monetary Authority (CIMA)
- Assets Offered CFDs on Gold, Oil, Metals, Indices, Stocks (including 1:1 stocks and low-cost fractional shares), Forex, and Crypto (Crypto not available for EU and UK)
- Platforms Available MT4, MT5, HY Trader App
- Mobile Compatibility Android, iOS
- Payment Types Accepted Bank Wire, Visa, Mastercard, Neteller, Skrill, Crypto, Perfect money, and more.
Account Types
|
Fixed |
Classic |
RAW |
|
|
Account Currencies |
EUR, USD, GBP, AED, JPY |
EUR, USD, GBP, AED, JPY |
EUR, USD, GBP, AED, JPY |
|
Minimum Deposit |
$20 |
$20 |
$20 |
|
Available Leverage |
1:500 |
1:500 |
1:500 |
|
Commission Per Trade |
$0 |
$0 |
$4 per round |
|
Decimal Pricing |
1.5 pips |
1.2 pips |
0.1 pips |
|
Trading Instruments |
Forex, Indices, Commodities, CFD on Stocks |
Forex, Indices, Commodities, CFD on Stocks |
Forex, Indices, Commodities, CFD on Stocks |
|
Min. Lot Size Per Trade |
0.01 |
0.01 |
0.01 |
|
Spreads |
1.5 pips |
1.2 pips |
0.1 pips |
|
Demo Account |
Yes |
Yes |
Yes |
|
Swap/Rollover Fee |
Yes |
Yes |
Yes |
|
Copy Trading Support |
No |
No |
No |
Trading Platforms
- MetaTrader4 (MT4)
- MetaTrader5 (MT5)
- HY Trader App
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts No
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Trailing Stop Order Yes
- OCO Orders Yes (EA only)
- Limit Order Yes
- 24hr Trading Yes
- Charting Package Yes
- Streaming News Feed Yes
Compliance & Regulation
HYCM Capital Markets is regulated by various authorities worldwide, including CySEC, CIMA, FCA, and the Dubai Financial Services Authority. This regulatory oversight ensures that the broker adheres to strict financial standards and compliance requirements, offering a level of transparency and security to its clients. Being regulated by a respected authority like CySEC means that HYCM is accountable for its operations, financial stability, and client protection. This regulatory framework provides traders with confidence in the broker’s legitimacy and commitment to maintaining a fair and secure trading environment.
Fees & Commissions
- Margin Interest 0%
Pricing
HYCM positions itself as a competitive broker in terms of pricing. With a minimum deposit requirement of just $20 and spreads starting as low as 0.1 pips, it caters to traders looking for cost-effective trading solutions. Moreover, the absence of commissions and the availability of zero commissions on some account types enhance its affordability. This pricing structure makes HYCM an attractive choice for traders seeking accessible entry points into the financial markets.
Service Details
- Supported Languages Arabic, Farsi, Swedish, Italian, English, Spanish, Polish, Russian, German, Vietnamese, Czech, Chinese, French, Japanese
- Customer Service Hours 24/5
- Email Response Time Within 1 hour
- Telephone Orders No
- Personal Account Manager Yes
Reliability & Security
To ensure the security and reliability of its services, HYCM employs robust security measures. These include stringent regulatory oversight by CySEC, ensuring compliance with industry standards. Additionally, the broker prioritizes client fund security by maintaining segregated accounts with reputable banks. Negative balance protection safeguards traders from excessive losses, providing an added layer of risk management. HYCM’s commitment to security and regulatory adherence contributes to a trustworthy and dependable trading environment for its users.
User Experience
HYCM offers a user-friendly website design, making navigation and information accessibility straightforward. The broker’s customer support is reliable, with 24/5 availability and swift email responses. The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are renowned for their ease of use and efficiency, catering to both novice and experienced traders. The account opening process is also hassle-free, with a low minimum deposit requirement, ensuring a seamless onboarding experience for traders of all levels.
Final Thoughts
In conclusion, HYCM Capital Markets presents an attractive proposition for traders. With competitive pricing, a wide range of tradable assets, and a user-friendly trading environment, it caters to diverse trading needs. The broker’s strong regulatory oversight, reliable customer support, and emphasis on security inspire confidence. While it may not offer some features like copy trading, it compensates with low minimum deposits and generous bonuses. HYCM is a reliable choice for traders seeking accessible and secure market access.
Contact Info
St Clement’s House, 27-28 Clements Ln, London EC4N 7AE, UK
FAQs
Q: Is HYCM available for traders in the United States?
A: No, HYCM does not provide its services to traders in the United States due to regulatory restrictions.
Q: Does HYCM offer a demo account for practice trading?
A: Yes, HYCM offers free demo accounts, allowing traders to practice and familiarize themselves with the platform before trading with real funds.
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