HYCM

Account Types

HYCM help its clients by giving them different kinds of accounts to choose from based on what they need. There are real accounts where you can actually trade with real money, and there are HYCM demo accounts where you can learn without using real money.

They even have special accounts for important clients like VIPs and companies that trade a lot. No matter which account you choose, you’ll get really good trading conditions. HYCM wants to make sure everyone has the best options for their trading journey.

Fixed Account
The Fixed Account is designed for traders who prefer stability and predictability in their trading costs. With 1.5 pips, spreads on this account type are fixed, meaning they remain constant regardless of market conditions. Also, keep in mind that fixed spread also means that they may be slightly wider compared to other account types during periods of high market volatility. Nevertheless, a Fixed account is suitable for traders who value transparency and want to know their trading costs upfront.

It is a no-commission account, and you will have to deposit a minimum of $100 to start the trading. While you can’t use an EA with Fixed Account, you can still trade easily. The smallest amount you can trade is 0.01, so you can start small. If you need an Islamic Account, this type is available too. It’s a good option if you want to know exactly how much you’ll be spending on trading and want an account that follows Islamic rules

Classic Account

If you are looking for variable spreads with HYCM broker, you may check out the Classic Account. It is a popular choice for traders looking for flexibility and value. With a minimum deposit of just $100, it’s easy to start trading. This account type comes with variable spreads starting from 1.2 pips, which means the trading cost might change a little depending on the market. However, the good thing about Classic Account is that there’s no extra commission fee to worry about.

Raw Account

The Raw Account provided by HYCM is a solid option for traders seeking precise and straightforward trading conditions. To start this account, you’ll need a minimum deposit of $200. This account type offers raw spreads that begin from as low as 0.1 pips, but there’s a small commission fee of $4 for each round of trading. You can use EA with this account, which can make trading easier. You can start with a small trade size of 0.01, which is great for getting started.

Asset Classes

You can trade Forex, CFDs, Stocks, Indices, Cryptos, Commodities, and Stocks with HYCM.

Forex

HYCM offers you the opportunity to trade more than 40 different currency pairs from all over the world. You can choose from a big list of pairs, which means you’re trading the money of one country against another country’s money. You also have the choice to use more money for trading than you actually have – it can be up to 500 (1:500 leverage) times more. And the cost of trading, which is called spreads, can be really tiny, starting from just 0.1 pips. All of these things together make trading forex with HYCM broker a really good chance to do well.

CFD Stocks

With HYCM, you can become a part of well-known and important companies from different places in the world. You can trade the ups and downs in their value in the stock market. This is a way to get involved in the interesting world of stocks. You have the option to use up to 1:20 leverage in your trading. And you only need to have 5% of the total money you want to trade as a starting point. This makes trading stocks with HYCM a way to learn about the business world and how it works. Further, you can trade more the 300 CFD stocks with HYCM.

Indices

With HYCM broker, you can easily join the world’s major stock markets. HYCM offers 15 famous indices from different parts of the world that you can pick. This is a fantastic way to be part of the stock market’s excitement without needing to buy separate stocks. You also have the option to use up to 1:200 leverage for trading, which can add excitement to your regular trading. Trading indices with HYCM gives you an opportunity to learn about how markets move all around the world.

Crypto CFDs

HYCM gives you the chance to benefit from the success of big cryptocurrencies like Bitcoin, Ethereum, and Litecoin, even if you don’t buy them. You can trade based on how their prices go up and down. This is a way to be involved in the world of cryptocurrencies without having to own them. You’re allowed to use up to 1:20 leverage, and you can pick from 28 important cryptocurrencies to trade. This gives you the opportunity to understand the crypto market’s movement.

Commodities

You can trade commodities with HYCM broker even if you don’t own the actual things they represent. This means you can trade things like gold, oil, and other valuable resources without having to buy them in real life. Moreover, to give you extra benefits, HYCM offers 1:133 leverage for commodity trading. Through HYCM, you can be a part of the commodities market and learn about how the prices of these important resources go up and down, all without needing to actually own them.

Deposits and Withdrawals

When you want to add money to your HYCM trading account or withdraw, it’s quite easy. They have a fair and equal way of handling money transactions, although the methods and rules might be a bit different depending on which transaction methods you are using. In general, they got a good score of 8.5 out of 10 for how they handle putting money in and taking it out.

It’s really cool that you can start with just $20 as your first deposit. Also, they don’t ask for extra money when you put funds in or withdraw, which is a big plus. You can quickly add money using different methods like Skrill, Neteller, and Credit Cards. HYCM also has different base currencies, including USD, EUR, GBP, RUB, AED, and CAD you can use for your account, which is useful for people from different countries. And if you want to withdraw money from your account, they usually proceed within one business day.

Safety of Funds

Making sure the money of HYCM’s clients is safe is very important. They do this in a few ways. They keep the money of their clients separate from their own, and they put it in special accounts with really trustworthy banks like Tier-1 Banks. For clients that deal with the FCA, CySEC, and CIMA, this is how they handle things.

Also, if you’re a client of FCA or CySEC, you have some extra protection. There are two compensation funds called the Financial Services Compensation Scheme (FSCS) and the Investors Compensation Fund (ICF). These are like backup plans just in case HYCM can’t return your money for some reason. If that happens, these funds can help you out. The FSCS is for FCA clients, and the ICF is for CySEC clients.

Trading Platforms

HYCM broker provides its service through MetaTrader 4 and MetaTrader 5 platforms. Here is the detail of these platforms.

MetaTrader 4

MetaTrader 4 (MT4) is a really popular forex trading platform that traders use for buying and selling foreign currencies and other asset classes in the financial market. This program is great for all kinds of traders, whether they’re just starting or already know a lot. It has cool features like advanced ways to look at data, different trading plans, and special tools called Expert Advisors. Plus, you can even use it on your phone to trade from anywhere.

You can trade easily even when you’re not at your computer. Just use your smartphone or tablet to open, control, and finish your trading deals.

All you have to do is get the MetaTrader 4 app for Android or iOS on your device. This way, you can trade currencies from anywhere, whether you’re at home or somewhere else in the world!

MetaTrader 5

MetaTrader 5 (MT5) is a super strong platform that can do lots of things. It’s not just for one type of trading assets; it works for trading different kinds of asset classes.

HYCM MT5 helps you understand and predict the market better with really smart ways of looking at data. You can also make your own trading plans and even use special tools like trading robots and Expert Advisors to help you trade automatically.

MT5 gives you even more options, like more ways to look at the time and different ways to order deals. It even has a tool that shows important economic events. All these things make it a really useful tool for trading.

Further, you can have all the cool features of MetaTrader with you wherever you go. With just your smartphone or tablet, you can open, handle, and finish your trading deals right from your hand.

Education

HYCM also offers a range of educational features to assist traders in enhancing their knowledge and skills in the financial markets. Here are some of the educational resources and features provided by HYCM.

Weekly Webinars

HYCM regularly conducts online webinars on various topics related to forex trading. In these online sessions, HYCM talks about what’s coming up in the world of trading, especially in the foreign exchange market. Further, they look at how the market is changing and shifting. You’ll learn about important events that could make the market move and how to handle risks in a smart way.

This is your chance to learn how to plan ahead for these events and feel confident when you’re trading. By joining, you’ll get useful information about how most traders are feeling and strategies for big market events, and you can even ask questions during the session and get answers right away. You can join the webinars to learn the important things you need to trade successfully.

Weekly Workshops

To enrich your forex knowledge, you can also join the weekly workshop at HYCM and learn from a real expert in trading named Giles Coghlan. He’ll show you how trading works in real-time, sharing all the smart things he knows. To make sure you get the most out of this learning, we believe in learning by doing. That’s why you’ll need a special practice account to follow along and try out what you’re learning.

Customer Service

One of the key features of HYCM’s customer service is its availability 24 hours a day, 5 days a week. This means clients can get help from the customer support team any time from Monday to Friday, especially when trading is most active.

HYCM has different ways to help clients. They have a phone service and a live chat. With the phone service, clients can talk to a customer service person directly on the phone. This is great for questions that need quick answers or if there’s a big problem. The staff at HYCM is good at helping, and they’re fast too.