HYCM Review in Jan. 2024

Published on 11/01/2024
Fact checked 11/01/2024

TrustedBrokers Score

4.2 / 5
85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets
    5.0 / 5
  • Trading environment
    3.8 / 5
  • Deposits and withdrawals
    4.4 / 5
  • Investor protection
    3.8 / 5
  • Customer service
    4.0 / 5
Our take on HYCM

HYCM.com, formerly HY Markets, is an award-winning regulated online broker suitable for day traders as well as long-term investors. It's also an established broker, in business since 1999.

Trade over 300 instruments across a wide range of markets, spanning currencies, cryptocurrencies, stocks, indexes, and commodities. HYCM offers a variety of trading accounts for beginners and more experienced traders, on the MetaTrader 4 and 5 platforms.

Of note, 'buy and hold' investors can now access over 1,000 'real' stocks, and earn dividends on their investments. It is possible to invest from as little as $10 through fractional ownership. This service includes American, Asian, and European stocks.

HYCM is an established broker, in business since 1999. It is also a safe place to trade, being overseen by regulators in the EU, the UK, the UAE, and other regions. HYCM provides a reliable trading environment. However, its trading fees are somewhat higher than the competition, unless you open a Raw account.

  • Likes
  • Trade CFDs or invest in over 1,000 "real" stocks.
  • Trade on MetaTrader 4 or MetaTrader 5.
  • Get free signals from Trading Central.
  • Open a trading account in USD, EUR, GBP, CAD and AED.
  • Dislikes
  • Trading fees on its Fixed and Classic accounts are a little high.
  • Monthly inactivity fees apply after 90 days.
  • Copy trading isn't possible.

Easily navigate this review:

5.0 / 5
Markets

With HYCM, you can trade CFDs on 300 instruments, across all markets, except for government bonds. In addition, you can buy "real" shares in over 1,000 companies.

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3.8 / 5
Trading environment

HYCM offers three accounts designed with beginners, experienced trading and professional traders in mind. It's Raw spread account offers the best trading conditions.

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4.4 / 5
Deposits and withdrawals

Fund your account with HYCM in as little as one hour through a bank card, an electronic wallet or crypto-currency. HYCM charges no fees on deposits.

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3.8 / 5
Investor protection

HYCM places client funds in a segregated account, and offers negative balance protection as standard. However, your ability to access an investor compensation fund will depend on your regulator.

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4.0 / 5
Customer service

Customer support is available over live chat and email. Our queries have generally been answered promptly, except on weekends when communication has been delayed.

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Author

About the author

I'm Stefan, 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.