How to Trade Forex in Iran
- Trade CFDs or invest in over 1,000 "real" stocks.
- Trade on MetaTrader 4 or MetaTrader 5.
- Get free signals from Trading Central.
- Account currencies include USD, EUR, GBP, CAD and AED.
- Trading fees on its Fixed and Classic accounts are a little high.
- Monthly inactivity fee after 90 days.
- Copy trading isn't possible.
HYCM is an established broker, in business since 1999. It also is a safe place to trade as it's overseen by regulators in the EU, the UK, the UAE and abroad.
Trade CFDs on a wide range of markets through its Classic and Raw accounts. You may also buy and hold over 1,000 "real" stocks, without leverage, and earn dividends.
Every client receives complimentary trading signals from Trading Central. Trading Central uses technical analysis to identify potential opportunities on a daily basis. Their signals could spark new ideas, or reinforce your existing convictions.
Overall, we have found HYCM to provide a reliable trading environment. However, its trading fees are a little higher than the competition, unless you open a Raw account.
With HYCM (HYCM.com), you can trade CFDs on 300 instruments, across 6 asset classes: Forex, stocks, indices, ETFs, commodities and crypto-currencies. This is an opportunity to diversify across a wide range of markets. Please read our HYCM review for more information.
HYCM supports both MetaTrader 4 and 5, two popular trading platforms. We recommend trading through MetaTrader 5 as that platform supports all 300 instruments. In contrast, no more than 90 instruments are available through MetaTrader 4. MetaTrader 4 and 5 support a wide range of orders as well as automated trading robots, known as Expert Advisors. HYCM supports all trading styles and Expert Advisors, except high-frequency trading robots. If in doubt, please contact HYCM.
HYCM (HYCM.com) offers 3 accounts, to match your trading style: an account with wider spreads, fixed at all times, another with lower, yet variable spreads and a third with razor-thin spreads plus commission. All three accounts are available in Islamic format for Muslim investors, upon request. HYCM's Islamic accounts carry no swap-charges on positions you keep open overnight. You can keep your positions open for as long as you want, and will only be charged a $5 overnight fee from the 14th-day onwards.
HYCM has been in business since 1977, and is regulated across the markets it operates in, including the UK and the European Union. Over the years, HY Markets has received a string of awards including "Best FX Broker, Northern Europe" by the World Finance 2012 Awards and "Best Forex Brokers in the Middle East" by the IB Times Trading Awards 2011.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.