| ✴️ Fixed Account | ✴️ Classic Account | ✴️ Raw Account | |
| 📈 Spreads | Fixed from 1.8 pips | Variable from 1.2 pips | Raw spreads from 0.2 pips |
| 💳 Commission | None | None | $4 per round |
| 💰 Minimum Deposit | $100 | $100 | $200 |
| 📱 EAs Available | No | Yes | Yes |
| 📒 Minimum Trade Volume | 0.01 lots | 0.01 lots | 0.01 lots |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 👉 Open a account | Click Here | Click Here | Click Here |
Min Deposit USD 20 Regulators FCA Trading Platform MT4, MT5, WebTrader Crypto No Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
HYCM Account Types vary according to what traders require, HYCM is one of the most recognized names in the forex industry boasting 40 years Group operational history.
Choose your quick section of our HYCM Account Types below.
HYCM Account types – 8 key points quick overview:
HYCM Overview- HYCM Account Types
- HYCM Account Features
- HYCM Demo Account
- HYCM Islamic Account
- HYCM at a glance
- HYCM Pros and Cons
- Frequently Asked Questions
Here is an overview of the HYCM Account types as well as the treading features and benefits offered for each account.
HYCM Overview
HYCM is one of the most recognized names in the forex industry boasting 40 years Group operational history.
With a long record of accomplishment providing its global customer base with an outstanding and trustworthy trading experience, HYCM offers clients everything they need to make informed trading decisions.
HYCM is regulated by the Financial Conduct Authority of the UK (FCA), Cyprus Securities and Exchange Commission (CySEC), Dubai Financial Services Authority (DFSA) and Cayman Islands Monetary Authority (CIMA).
The broker offers three tailored account types, on which traders can choose between Fixed Spreads, Classic Floating Spreads and Raw Spreads from 0.2 pips. Clients will have access to the global financial markets to trade Forex, commodities, indices, and stocks on the globally renowned MetaTrader 4 and 5 platforms.
MetaTrader 4 (MT4) is the most widely used electronic trading platform and has been adopted as the financial market standard thanks to its innovative technology. The platform offers many opportunities to traders of all skill levels, together with advanced technical analysis, flexible trading systems and Expert Advisors, as well as mobile trading applications.
MetaTrader 5 is a powerful multi-functional, multi-asset platform featuring advanced technical analysis, fundamental analysis, flexible trading systems and compatibility with automated trading applications (trading robots, Expert Advisors).
MT5 offers additional timeframes and services, including 21 timeframes, 6 types of pending orders, and an integrated fundamental economic calendar
HYCM Account Types
HYCM offers the following three account types:
Fixed – fixed spreads from 1.8 pips, $100 minimum deposit.
Classic – variable spreads from 1.2 pips, $100 minimum deposit.
Raw – spreads from 0.2 pips plus $4 commission each way, $200 minimum deposit.
Traders of the Muslim faith can also elect to open a swap-free, Islamic Account, which is available for all the above account types. Traders can also open a free demo account to test out the broker’s trade features before signing up for a real account.
HYCM Account Features
✴️ Fixed Account
| ✴️ Fixed Account | |
| 📈 Spreads | Fixed from 1.8 pips |
| 💳 Commission | None |
| 💰 Minimum Deposit | $100 |
| 📱 EAs Available | No |
| 📒 Minimum Trade Volume | 0.01 lots |
| ☪️ Islamic Account | Yes |
✴️ Classic Account
| ✴️ Classic Account | |
| 📈 Spreads | Variable from 1.2 pips |
| 💳 Commission | None |
| 💰 Minimum Deposit | $100 |
| 📱 EAs Available | Yes |
| 📒 Minimum Trade Volume | 0.01 lots |
| ☪️ Islamic Account | Yes |
✴️ Raw Account
| ✴️ Raw Account | |
| 📈 Spreads | Raw spreads from 0.2 pips |
| 💳 Commission | $4 per round |
| 💰 Minimum Deposit | $200 |
| 📱 EAs Available | Yes |
| 📒 Minimum Trade Volume | 0.01 lots |
| ☪️ Islamic Account | Yes |
The broker also offers VIP Accounts for corporate and professional clients, which come with the following benefits:
Dedicated Account Manager
Comprehensive Market Analytics
Better Spreads (For Fixed Accounts)
HYCM Demo Account
The demo account from HYCM is funded with $50 000 in virtual currency and allows traders to test the trade features of the MetaTrader 4 account within the context of the broker’s trading conditions.
The demo account is available for 14 days, after which it can be converted to a live trading account. If you choose not to open a real account, your demo account will expire. Traders also have the option to open multiple demo accounts.
HYCM Islamic Account
The Islamic Account from HYCM will allow Muslim traders to avoid swap fees incurred on positions held overnight.
The Islamic Account can be opened as a version for each of the swap-rated accounts and will grant users access to the same spread conditions, commissions, and trade features. However, Islamic Account users will be charged swap fees on positions held open for longer than 14 days.
The Islamic Account can be applied for after the successful registration for your preferred swap-rated account, whether Fixed, Classic or Raw. Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.
With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.
An Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
HYCM at a glance
| Broker's Name | HYCM |
| 🏛️ Headquarters | United Kingdom, Hong Kong, and Cyprus |
| 📅 Year Founded | 1977 |
| ⚖️ Regulating Authorities | FCA, CySEC, DIFC, DFSA, CIMA |
| 🌐 Countries not accepted for trade | USA or Canada |
| ☪️ Islamic account (swap-free) | Yes |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | Yes |
| ⬆️ Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | $100/R1 600 |
| 💳 Deposit Options | Debit/credit card (Visa or Mastercard), Skrill, Neteller, Webmoney, China Union Pay, Interac or wire transfer |
| 💳 Withdrawal Options | Debit/credit card (Visa or Mastercard), Skrill, Neteller, Webmoney, China Union Pay, Interac or wire transfer |
| 📊 Platform Types | MetaTrader 4, MetaTrader 5, WebTrader |
| 📱 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Forex, stocks, indices, commodities |
| 💬 Languages supported on Website | Multilingual |
| 💬 Customer Support Languages | Multilingual |
| ⏲️ Customer Service Hours | 24/5 |
| 👉 Open a account | Click Here |
Min Deposit USD 20 Regulators FCA Trading Platform MT4, MT5, WebTrader Crypto No Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
HYCM Pros and Cons
| ✔️ Pros | ❌ Cons |
| Islamic Account version available for each of the swap-rated accounts | Traders on the Islamic Account will be charged interest on positions held open for longer than 14 days |
Conclusion
HYCM offers three different account types; namely a Fixed account, Classic account and a Raw account. All of these accounts has a Minimum Trade Volume of 0.01 lots available.
HYCM Customer Reviews
conclusions are made – top broker
It’s one of those companies I trust. 1+ year of trading with hycm has passed and I made my conclusions. Top broker, no doubt
No complaints
Quoting the website “The HYCM Group is a global corporation with a diversified portfolio of businesses spanning Asia, Europe and the Middle East.”. You can definately rely on HYCM. Trustworthy broker!
Nice broker, no complaints
Well,in my opinion, all the brokers have to comply simple rules: be responsive and responsible, be reliable and always develop the service in a better way. However, not all the brokers comply with these rules.
I have plenty of experience in trading and faced such brokers who aren’t reliable at all. Nevertheless, HYCM is different. Fortunately, everything was as I expected. Can be recommended!
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Frequently Asked Questions
Trading environment
How many instruments can I trade with HYCM?
HYCM offers traders with access to the following instruments:
- Forex – almost 70 currency pairs
- Stocks – 10 major companies
- Indices – 28 global indices
- Commodities – 17 including gold and oil
Which platforms are supported by HYCM?
HYCM supports MetaTrader 4, MetaTrader 5 and WebTrader.
Does HYCM offer leverage?
Yes. Different leverage ratios are offered as follows:
- Forex majors – 1:30
- Forex minors and exotics, metals, indices (US cash and futures) – 1:20
- Indices (other cash and futures), commodities (Natgas, soft and oil) – 1:10
- Stocks – 1:5
What spreads can I expect with HYCM?
The spreads offered by HYCM will vary depending on the selected account type. The EURUSD is offered at 1.8, 1.4, and 0.2 pips on Fixed, Classic and Raw accounts.
Does HYCM charge commission?
Yes. Raw Accounts have a $4 commission per round on forex trades and some commodities.
Are there additional charges on the Islamic account?
No, but swap fees are charged on positions held open for longer than 14 days.
Is HYCM regulated?
Yes. HYCM is regulated as follows:
- Henyep Capital Markets (UK) Limited, regulated by the Financial Conduct Authority (FCA).
- HYCM (Europe) Ltd, authorised by the Cyprus Securities and Exchange Commission (CySEC).
- Henyep Capital Markets (DIFC) Limited, authorised by the Dubai Financial Services Authority (DFSA).
- HYCM Ltd, regulated under the Cayman Islands Monetary Authority (CIMA).
Is HYCM a recommended forex trading broker for experts and beginners?
Yes. HYCM provides an excellent trading environment for beginner and advanced traders.
What is the overall rating out of 10 for HYCM?
8/10.
Accounts
What is the difference between a demo and live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does HYCM offer a demo account?
Yes, HYCM offers a free demo account to all new traders.
For how long is the demo account valid?
The demo account is only available for 14 days. After this period, the demo account can be upgraded to a live account, or else it will expire.
Does HYCM offer the option of an Islamic Account?
Yes.
Which live trading accounts does HYCM offer?
HYCM offers Fixed, Classic and Raw accounts to match every trading style and level of experience as well as special accounts for VIP and Corporate clients who trade larger volumes.
What are the available deposit currencies for a live trading account?
The accepted deposit currencies will depend on your selected payment method. In total, the broker accepts USD, EUR, GBP, RUB, AED, and CAD.
Traders depositing in smaller currencies, like ZAR/Rand, will incur conversion fees.
Deposits and withdrawals
What is the minimum deposit for HYCM?
The minimum deposit amount required to open a broker account with HYCM is $100. This is a standard minimum deposit requirement when compared to most other brokers in the industry and should present a low barrier of entry to most new traders.
How do I make a deposit and withdrawal with HYCM?
HYCM offers a variety of popular deposit methods. Traders can make a deposit via debit/credit card (Visa or Mastercard), Skrill, Neteller, WebMoney, China Union Pay, Interac or wire transfer, depending on their region.
Does HYCM charge withdrawal fees?
For withdrawals via wire transfer of less than US$300, a handling fee of US$30 will be charged. Deposits and all other withdrawal types are processed free of charge, although your payment processor may charge a handling fee which is beyond the broker’s control.
How long does it take to make a withdrawal?
To ensure the security of your funds and to be sure that all funds are returned safely there are many security checks that need to be completed before processing a withdrawal.
Although HYCM processes your withdrawal request within 1 business day, withdrawals can take 3 to 7 days to reach your account depending on your bank or credit card company.
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