HYCM Review (2023)

Better do some research first Rahmat. HYCM is one of the worst brokers around. Avoid them like the plague.

I consider HYCM as one of the biggest forex scammers
Please if you are planning to trade with them don’t do it
I made profits they refused to send my money instead they sent me some fictitious wire prove
I sent the information to my bank I was told by my bank that such wite information doesn’t exist
They are owing me more than $6000
Right now they are not picking my calls nor reply my mails
I have sent them my bank officers name, phone numbers and email
I have sent them my account statement to prove such money never made it to my account
But I rather die than to allow them to eat my money
Am a black man this is part of the injustice we go through in this wicked world
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It is immediately noticeable that this broker is trying to provide decent conditions for trading. I like that there are so many instruments and the broker gives useful information, which can be useful to find profitable situations in the market faster. At one time I was recommended to work with HYCM and I am glad that I took it seriously.

In fact, HYCM raw account can turn out to be MUCH more favorable. They only charge $4 per round, which is really favorable in comparison iwth several pips spreads with a decent positions size.

Yeah, I worked hard to ensure I choose the service was of high quality and the cooperation between the client and the broker is mutually beneficial. Spreads here are average, but they are optimal for any capital. No problems with the withdrawal of funds do not create – yeah, this is clearly a profitable solution.

You know, it happens differently, sometimes the money comes on the same day, sometimes the withdrawal takes a couple of days, but from my observations I never waited more than three days, quite acceptable.

Quick. According to my observations, about one or two days. It says on their website that they can withdraw up to a week, but I’ve never seen one in a couple of years.

Depends on what you want to find out. Managers will definitely not give you any advise on what to trade and how. But if you mean whether they can help with choosing the best account type or help you with understanding the leverage and margin requirements – yes, they can be very helpful.

This depends on the account you choose. For classic and fix its just spread with no commission. Raw accounts have spreads of 0.2-0.5 pips and a $4 commission per trade.

Yeah, I think HYCM is good for you even if you have no trading experience at all. The broker has a simple working interface, a user-friendly trading platform, and a demo account. Usually, all beginners gain experience first trading on a demo, and then open a real account.
But the most exciting thing for a beginner, HYCM has a huge base of free education. It is divided into categories and in it you can really find everything that interests you.
So my opinion is that a broker is suitable for more experienced traders, as well as with traders who have no experience at all.

For MT5 – up to 1:200
For MT4 – up to 1:500 for Forex
1:100 for exotic currencies
1:100 for indices and 1:20 for crypro.
BUT! That’s only with HYCM SVG. If you want to trade with HYCM that’s regulated by the UK FCA or CySEC – than leverage will be up to 1:30 for forex and 1:2 for crypto. For commodities up to 1:10.
The full list you can get on the HYCM website, as I rememba

Yes, it has. HYCM offers MT4 and MetaQuotes has designed app for iOS (iPhones and iPads). Just follow Trading – Metatrader 4 on the official website, there will be button ‘Download on the App Store’. There’s the same button for Metatrader 5.

4 regulations, as I remember – British (FCA), Cysec (Europe) and 2 offshore regulatuions.

HYCM offers demo account, just go to your account after signing up and choose Create Demo Account. Demo is the same as the real account, but without risking your own money.

Right on the broker’s website, you can find a calculator. Among calculators you can find: Pip calculator, Currency converter and Margin calculator. I think it’s okay not to explain what each individual calculator is for. They are easy to use and don’t require any special access. You just go to the HYCM website and use them.

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.
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.

In simple words and short answers.
1. The more regulations, the better.
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.

Hey! Yeah, that’s exactly how it works. Your account will be protected by regulators, which you can read about on the broker’s website. They apply equally to all the broker’s clients, and that’s good thing for you. This way you can be sure that nothing happens to your deposit and it will always be protected by the regulator.

I can answer that question like this. If you already have some experience, this training may seem simple enough and not very informative. But a lot depends on the experience, so sometimes it is worth looking through even the basic things again to make sure you have not missed anything. And the beginner will be interested in it on 1000% because here he will get the base which will help to continue to develop in the market and to pass to more difficult strategies.

Look, there is no biult in sync trading here,
But… Here you can work with ready-made trading algorithms – because it is allowed by regulation, and it is a really safe format without constant personal participation. Or you can use MT5 signals to follow some strategy of your choice.

Fixed spreads are better in long-term trading, as in the short-term they will ‘eat’ significant part of your profits. I can suggest you to try Raw account, at least I’m trading with ti and I see it as an more predictable account type (compared to variable spreads) and more cheap (compared to fixed spreads), especially if you have a big trades.

I’ve never heard of such a possibility. It is unlikely that you can copy signals in HYCM if I understood your question correctly. But there is a lot of analytics here. So you can look at the top 10 movers, for example. And draw conclusions from this table. It’s kind of a clue. I actively use those.

If you mean assets, than NO.
If you mean trading features, than yes. MT5 is better in this regard, at least it supports the Market Depth!

Yes, HYCM supports cryptos. The list of supported digital coins is fairly big. Go to the corresponding section of their official website for more deteails.

Depending on how you use it, I think. It can boost your trading, but only if you would work hard and would try to become better. Don’t expect that education would be a magic wand that would make you a great trader. But it’s usefull, I was learning with HYCM and now I’m making money with trading and that’s my only one income source.

If you are a client of HYCM Ltd regulated by the Cayman Islands Monetary Authority, you are lucky because it’s the only branch of the well-known broker that provides a 10% Credit Bonus on every depo you make over $100.

Yes, it’s possible to open a joint trading account with another person, one should write to the broker’s customer service to get their official authorization.

The broker charges an overnight fee for an open trade.

What leverage do you use? I heard some branches of the broker offer very low leverage due to regulation restrictions.

You should attentively choose a trading platform when registering a trading account with this broker. If you already have an MT4 trading account and want to shift to Metatrader 5, simply open a new account but choose MT5 this time. You can trade on both accounts or transfer funds from the MT4 one to the new account.

Have you had any experience with unregulated brokers? I do not ask for the scam of the company. I mean only honest brokers who have not yet become so popular.

On the HYCM Metatrader 4 trading platform, you can use these tools for trading:
Forex
Stocks
Indecies
Cryptocurrencies
Commodities
ETF
This is a very good assortment of choices for a forex trading broker.

Broker HYCM allows its traders to trade MT4 and this is great because this trading platform has a lot of analysis tools. I like to use indicators: Moving Average, RSI, Bollinger Bands and MACD. This lets me know what the trend will be..

II think that in any case, HYCM broker will offer you great trading offers such as low spreads and zero commissions.
But if we talk about a good profit, then I recommend that you make a deposit of at least 1000 dollars.

If you are a beginner, you can hardly earn a lot of money fast. First, you should learn how to forecast the market. If you succeed in this, you can work on short timeframes trading intensively in daytime. For this purpose, the broker offers everything required. These are Metatrader 5 or Metatrader 4. These platforms have all the necessary tools to analyze the market. I advise you to take some time to learn how to analyze the market properly. Earning money fast on Forex is possible but it requires practice and a great deal of dedication.

Do you think this broker has enough indicators to do good trading analysis?

Yes, HYCM allows its users to trade fix spreads on all the platforms that this brokerage works with and MT4 is not an exception.

That is a very good question. Actually hycm is regulated by 4 organisations which are: FCA, CySEC, DFSA and CIMA.

Broker HYCM has trading platforms Metatrader 4 and 5. This software has the ability to connect trading robots and advisors.

To my mind the main advantage of this broker is that it allows to choose between floating and fixed spreads. I personally chose fixed spreads because they are good for high volatility trading. Respectively, if you intend to trade in a high volatility session, you’d better open a Fixed account. It’s quite a universal account,except for scalping. If you like to scalp, open a Raw account because it offers tight spreads.

Yes, HYCM broker has really different three types of accounts in terms of trading conditions. How to determine which type of account is right for you? Probably it depends on your trading type first of all. To determine that, you should take into consideration how many positions you open, whether you prefer to trade on the news or on a quiet market, whether you trade at night or in the evening, or during European and American sessions. All this affects the choice of trading account.
For example, even though I like to trade on the news, I chose for myself an account with floating spreads, because at this broker I didn’t notice significant spread widening, so I make much more profit on this account.
You can start with an account with fixed spreads, that’s what all newbies usually do.

The broker offers different options for using the platform for trading, offering desktop and web versions of the MT4 platform.
Since HYCM broker is only focused on using MetaTrader, mobile versions of the MT4 app for iOS and Android are quite standard and available for download from the Apple iTunes and Android Playstore.
Although MT4 at all brokers is standard with slight variations in functionality, significant differences can be in how the platform is set up in terms of trading spreads and commissions, order execution and other tools, features and administrative areas. You can also see the differences in the web version settings.

Mobile application seemed to me pretty convenient and I didn’t spend so much time on sorting out how to use this mobile application. Actually, this details was the main for me, so I can claim that everything is okay with it.

I never use mobile apps for trading. They can’t beat a full-fledged desktop platform in terms of functionality. This broker absolutely suites me but I trade on its Metatrader and not on its app.

You are talking about some kind of statuses .. hmmm .. probably you meant the types of accounts.
This is true, there are types of accounts with different spreads:
– fixed;
– variable;
– raw spread.
In order to understand which one you need, HYCM broker has some kind of quiz on the site. There are 5 questions. When you answer this, you will be prompted which account you need.
It’s actually easier than it looks. 😉

I feel that it is more like a matter of taste. I believe that it is better to learn mt5 as it is more modern and updated, it can offer much wider functionality.

MetaTrader 5 is a widely used trading platform for Forex and especially CFDs. It is more powerful than the MetaTrader 4 platform, offering enhanced social and copy trading features, as well as better back testing and analytical functionalities. I would choose MT5 trading platform, however we shouldn’t exclude MT4 from this list as well. I prefer MT5 and i would reccomend it for any strategies as I supoose the days of MT4 will last someday.

Guess that as for the training on mt5, you can just open the platform and train on a real account, or you can use it on demo. However, I never advise traders to stay on demo for so long, because it may cause unpleasant consequences. You will never feel the risk on demo and this habbit will blow your real money depo

the difference is the amount of spread you you to pay and a comission per trading volum. Starting from zero and so on.

I’ve been working with broker for several years. no problems. everything is fast and clean. i heard they have help centr, just in case