<p>Im just learning HYCM and haven’t made a deposit yet, I want to check everything before investing my money. I’ve noticed many really positive things.<br>
1. The broker has 5 (!) regulations. 5, Carl! Why do they need such many? But okay. Among the regulations are both CIMA and FCA + CySEC. These two regulations are very respected in the community, so I think this is a big advantage.<br>
2. Positive reviews on respected websites, which adds to the confidence that the broker is good not only “”on paper””, but also in “”real trading””.<br>
3. Minimum deposit only $100. This is the first broker with FCA regulation that accepts traders starting from $100 deposit, so this is great!<br>
The only drawback is that my strategy involves using fixed spreads. Is it possible to fix spreads on my HYCM account?</p>
Replies 2
Abdula al MohammedReply
★★★★★
<p>First of all these variety of regulations is needed cause it covers all the distant areas of the globe this way. Regulations apply depending on the country that the customer comes from. I.e EU customers will be under CYSEC regulation, etc.<br>
Secondly, you can always change the account type. Simply contact the support manager, they will let you know how soon you can expect the transfer to a new account type. Thye’ve got fixed spreads on one of the account types, so this shouldn’t be a problem.</p>
<p>In simple words and short answers.<br>
1. The more regulations, the better.<br>
2. HYCM offers three types of accounts: Fixed, Classic and raw. If your strategy requires 100% fixed spreads, use fixed, but I would suggest you try a raw account. There’s 0.2-0.4 pips spreads and $4 fee per round. I think this account is much better than fixed spreads.</p>