HYCM does offer a 100% demo account. The demo account from HYCM is funded with $50 000 in virtual currency, allowing you to test out the trade features of the MetaTrader 4 platform in a risk-free environment.
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 Demo Account offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
Choose your quick section of our HYCM Demo Account below.
HYCM Demo Account – 6 key points quick overview:
How to set up a HYCM Demo Account – Step by Step- HYCM Demo Account Features
- HYCM Pros and Cons
- Conclusion
- HYCM Customer Reviews
- Frequently Asked Questions
Here is an overview of the HYCM Demo Account as well as the features that are offered.
How to set up a HYCM Demo Account – Step by Step
Step 1 : Open MT4 platform
To open your first demo account with HYCM, simply open MT4 and click on File followed by Open Account.
Step 2 : Fill out the form
You will then be asked to complete a registration form. Once you have finished your registration, login details will be set up automatically for you and displayed on the screen.
You can repeat this process for as many demo accounts as you wish.
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money. A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, managing existing trade positions as well as more advanced functions such as testing or fine tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
HYCM Demo Account Features
The free demo account from HYCM is funded with $50 000 in virtual currency, allowing you to test out the trade features of the MetaTrader 4 platform in a risk-free environment.
The account can be traded in EUR or USD as base currencies, and after 14 days the account can be upgraded to a live account. If, after this 14-day period, you choose not to upgrade to a live account, the demo account will expire.
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 |
| Acceptable minimum deposit of $100 | Inactivity fees |
| Competitive spreads | Swap fees charged on Islamic account for positions held open longer than 14 days |
| No deposit fees | Withdrawal fees on wire transfers of less than $300 |
| Swap-free account available |
Conclusion
HYCM does offer a 100% demo account. The demo account from HYCM is funded with $50 000 in virtual currency, allowing you to test out the trade features of the MetaTrader 4 platform in a risk-free environment.
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
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.
Which live trading accounts does HYCM offer?
HYCM offers a variety of trading accounts including Fixed, Classic and Raw to match every trading style and all levels of experience.
The broker also offers special accounts for VIP and Corporate clients who actively 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.
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