What is HYCM?
HYCM is a global online trading broker that provides services for trading forex, commodities, cryptocurrencies, and indices.
When did it start operations?
HYCM was established in 1977, making it one of the older brokers in the industry.
Where is its headquarters?
The company is headquartered in London, United Kingdom.
In which countries is it banned?
HYCM is restricted or banned in several jurisdictions, including the United States and some countries in the European Union due to regulatory issues.
Pros and Cons
Advantages:
- Wide range of trading instruments available.
- Strong regulatory oversight from multiple authorities.
- Competitive spreads and low fees.
- Access to educational resources and trading tools.
Disadvantages:
- Limited customer support options at times.
- Some users report complex withdrawal processes.
- Not suitable for all types of traders (e.g., high-frequency trading).
Trading Instruments
What instruments can I trade?
You can trade various instruments, including:
- Forex pairs
- Commodities
- Indices
- Cryptocurrencies
Fees
What are the trading fees?
HYCM generally offers competitive trading fees, with spreads starting from as low as 0.2 pips. However, specific fees can vary depending on the account type and asset class.
Scalping
Does it allow scalping?
Yes, HYCM allows scalping strategies on its trading platform.
Trading Platform
Is there a trading platform?
Yes, HYCM provides its own trading platform, as well as access to MetaTrader 4 and MetaTrader 5, which are popular among traders.
Margin Trading
Is there leveraged or margin trading?
Yes, HYCM offers leveraged trading, allowing traders to use margin to increase their trading capacity. Leverage ratios can vary based on the asset class and regulatory requirements.
