Instead of spreads, traders on this type of account pay a commission for executing trades. The Raw account is ideal for scalpers, those who prefer to trade on short-term timeframes, and those who use automated trading systems or expert advisors. Our HYCM broker review has found that you can trade more than 300 instruments across five asset classes on MetaTrader 4. EAs are easy to install on MT4 and do not require any third-party bridges. Our HYCM Forex broker review team found three main account types to choose from; Fixed, Classic, and Raw.
Demo accounts
These include stringent regulatory oversight by CySEC, ensuring compliance with industry standards. Additionally, the broker prioritizes client fund security by maintaining segregated accounts with reputable banks. Negative balance protection safeguards traders from excessive losses, providing an added layer of risk management. HYCM’s commitment to security and regulatory adherence contributes to a trustworthy and dependable trading environment for its users. The app allows for custom account settings, giving traders the flexibility to adjust preferences according to their needs.
- MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005.
- For the first 14-days you hold a position open, there will be no fee of any sort.
- This transparent approach allows traders to plan their financial movements accurately, without encountering unexpected costs.
- HYCM is a leading Forex and CFD broker regulated by the FCA, CySEC, and DFSA, ensuring a high level of client fund protection and compliance with regulatory standards.
How can I delete my HYCM account?
But it is possible that the trading terminal will slow down or some of its functions will not work at full capacity, and this will lead to problems with capital in the future. The broker also implements measures such as negative balance protection, segregated client funds, and advanced data encryption to safeguard traders’ accounts and personal information. The FCA ensures that HYCM adheres to strict financial standards, client fund protection measures, and operational transparency. At the same time, the DFSA provides robust oversight to maintain market integrity and uphold investor interests within the Middle East. This dual regulatory oversight reinforces HYCM’s commitment to delivering trustworthy and reliable trading services worldwide. I was trading in gold, silver, and indices using take profit (TP) and stop loss (SL) orders.
If you want to compare HYCM with other forex brokers in more detail, go to the Forex Brokers Comparison page. Overall, the broker works well with beginner traders and is genuinely interested in teaching them how to trade. The processing time for withdrawal requests is within 1 business day.
The superb Trading Central award-winning analytical tools are available on HYCM’s platforms to help traders make trading choices. Alpha Generation, Risk Management, and Indicators Lab are among the tools available. This are excellent for automatically scanning your favourite instruments for trading signals according to your own bespoke conditions. The software can send you an alert so you do not need to be sat at your desk sifting through charts all day long. Trading Central third-party plugins for MetaTrader platforms can be loaded to improve technical analysis and give market forecasts and commentary. Filippo Ucchino created InvestinGoal, an Introducing Broker company offering digital consulting and personalized digital assistance services for traders and investors.
Premium and VIP accounts are also available, but these require you to contact HYCM directly for further details. Fixed accounts operate with fixed spreads, while Classic and Raw accounts have variable spreads. The following table outlines the differences between the various account types.
What Are HYCM Account Types?
This is beneficial for more experienced traders or those trading larger volumes, as the cost savings on the spreads can often outweigh the commission fees, especially in fast-moving markets. This structure also promotes high transparency in pricing and faster execution speeds, making ECN accounts an excellent choice for scalpers and high-frequency traders. HYCM ensures that all account types offer valuable and tailored features, allowing traders to select the option that best suits their trading strategy and financial goals. In addition to competitive spreads, HYCM hycm review maintains low commission rates across various account types. This approach allows traders to select an account that aligns with their trading preferences without worrying about excessive costs. Whether it’s a standard account with no commission fees or an ECN account with low commissions and ultra-tight spreads, HYCM provides options that cater to everyone from casual traders to professional investors.
Worry-free, reliable, trustworthy
Besides HYCM maintains powerful trading capabilities, offering an advanced range of trading instruments and accompanying its clients with dedicated support. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
Initially, I held gold trades with the expectation that prices would rise due to geopolitical issues. However, when my relationship manager flagged this strategy two months ago and advised against holding these trades for too long, I decided to close all of them. Overall, I’ve lost $9,000 in this account, and I am requesting to withdraw the remaining funds of approx $3,900 back to my original source.In summary, I find HYCM to be an unreliable broker. They can create withdrawal issues at any time and remove access to your MT4/MT5 account without warning. It operates as an STP broker, providing its clients with a wide range of trading instruments and competitive trading conditions.
- At HYCM, you can enjoy over 300 trading instruments, execution speeds of under 12 milliseconds on average, and spreads from 0.2 pips.
- These figures suggest HYCM operates on a relatively small scale in terms of retail visibility and engagement.
- With ultra-fast trade execution, custom settings, and in-app fund management, the app is built for simplicity, speed, and full control, right from your smartphone.
- It’s important for hycm traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks.
- HYCM ensures that all account types offer valuable and tailored features, allowing traders to select the option that best suits their trading strategy and financial goals.
The recent news section of the HYCM website provides the most relevant news affecting the markets. This news comes from FXDailyInfo, which is a common source of information used by brokers. FXDailyInfo is considered highly reputable and our HYCM review team urges you to pay attention to the analysis provided. As an HYCM client, you can also download and install the Trading Central plug-in on MT5. The MT5 analytics and information from MT5 overlap somewhat with those from MT4.
Depending on your trading style you can choose the plan that will be the most favorable for you. If you can’t decide yourself what will work best for you, I recommend using the test offered at the official HYCM website at Accounts sections. I played a bit answering this test in different ways and I definitely see some logic in the solutions they suggest for one or another approach to trading. Don’t forget to fill out all the paperwork providing true residence address and personal information to avoid any troubles in future. When deciding on this brokerage service, I certainly took into account a great number of nuances.
HYCM’s trading commissions depend on the selected type of trading account and include transaction fees, spreads, and swaps. This information allows HYCM to offer you optimal trading conditions and provide recommendations on the use of trading instruments and services that best suit your needs and experience. HYCM’s trading academy is a group of dozens of videos of varying lengths. Advanced traders and beginners who want a well-rounded Forex background will also find a section with videos on trading tools.
HYCM has a long history of operation and is a heavily regulated Broker. We found that the account opening is easy and offers various account types while costs are low. With HYCM you can use various options to deposit or withdraw funds. The broker enables trading through the MT4 and MT5 platforms, also, it offers its App. The Raw account is designed for professional traders and offers interbank spreads starting from 0 pips.
They are extremely well-established in the industry and provide some of the very best experiences to traders who value a robust, intuitive, comprehensive trading experience. HYCM offers a hassle-free deposit and withdrawal process with low minimums, fast processing, and zero fees from their end. With support for bank transfers, credit cards, and crypto, traders enjoy flexibility, speed, and transparency, all backed by strong client fund protections. It offers a range of trading instruments to explore, multiple trading platforms, and reliable support service. Most importantly, the HYCM has gained excellent testimonials and ratings from users on Trustpilot, Google Play, and the App Store.
The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. Hycm traders can navigate the platform and find the information they need to make informed trading decisions. Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.
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