- July 1, 2019
- Posted by: Michael
- Category: CFD brokers
HYCM is a CFD Broker that features on its trading platform CFDs on Forex, stocks, indices, commodities, futures, cryptocurrencies. HYCM is a subsidiary company of HYCM (Europe) Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. The minimum spread is for EUR/USD 1.8 pips*, real trading is possible with the minimum deposit of $100. The HYCM website is available in 13 languages including English, German and Italian.
What do we cover in our HYCM Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.HYCM.eu
- Leverage: up to 1:30
- Instruments: CFDs – Forex, stocks, indices, commodities, futures, cryptocurrencies
- Minimum deposit: $100
- Demo account: Yes, free of charge ($50,000 virtual money which will be active for 14 days)
- Methods of deposit and withdrawal: Bank wire, Credit and debit cards (Visa, Mastercard), Neteller, Skrill
HYCM Trading Platform
For FX and CFD trading, HYCM offers two popular trading platforms; MT4 and MT5. Each platform provides access to a different number of assets. On the MT4, HYCM clients can trade 100 trading instruments, while on the MT5 over 300. According to the HYCM website, the average execution time is 12ms.
As any other CFD broker, HYCM charges a spread fee. For the most current spread charges, please visit the HYCM.eu website. Here is a spread comparison table that contrasts HYCM spreads with popular industry competitors.
*Minimum spreads recorded on 01.07.2019 at 6:43 GMT for the fixed account. Spread charges were taken from the website of the broker. **Spreads recorded on 31.05.2019 at 8:23 GMT from the trading platform of the broker.
HYCM (Europe) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 259/14.
Henyep Capital Markets (UK) Limited is authorized and regulated under the Financial Conduct Authority with reference number 186171.
HYCM Ltd is authorized and regulated under the Cayman Islands Monetary Authority under reference number 1442313.
Henyep Capital Markets (DIFC) Limited is authorized and regulated by Dubai Financial Services Authority with license number F000048.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce HYCM.
- Strong regulatory framework
- International support
- Low minimum deposit
- Time limited demo account
To sum up the HYCM Review
HYCM group adheres to strict regulatory guidelines of the CySEC, FCA, CIMA and DFSA. The broker provides support in 13 languages and offers two popular trading platforms – MT4 and MT5. The minimum deposit is standard – 100 dollars, a demo account can be opened free of charge but its use is limited to only 14 days. The number of CFDs is solid, the no. of forex pairs is particularly intriguing.
Unfortunately, the broker does not have a live table of price quotes nor does inform us what are the average spreads. Given the fact that the minimum spreads are not notably tight, one wonders how big they can get.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with HYCM.
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