HYCM Review – trading on popular trading platforms

HYCM is a top forex broker that offers CFDs on stocks, commodities and indices in addition to currency pairs. HYCM (Europe) Ltd is a company licensed in Europe by the regulatory authority CySEC, thanks to which it can legally offer its services to citizens of the Czech Republic and Slovakia. The minimum spread for the EUR/USD currency pair is 1.8 pips*, and the minimum deposit is set at $100. The broker’s website is available in 13 languages, one of which is Czech.

Broker Overview

Minimum deposit	100 USD
Regulated broker	Yes
Regulation	CySEC, FCA
Trading platform	MT4, MT5
Demo account	Yes (time-limited)

HYCM Trading Platform

HYCM allows traders to use two popular trading platforms; MT4 and MT5. These two platforms are not complicated to use, navigating them is very easy. They are therefore used not only for placing trades, but also for analysing the market or for automated trading. Each platform allows HYCM clients to trade a different number of trading instruments. While 100 assets are available to trade on MT4, just over 300 are available to trade on MT5.

HYCM Fees (spreads)

Just like any other CFD broker, HYCM charges a spread fee. For the current value of this fee, please visit HYCM’s website. We have prepared a small comparison table here, where you can find the amount of HYCM spread fees on popular currency pairs compared to 2 other popular CFD brokers. You can compare brokers on our website.

Plus500** 0.6 0.7 1.1 0.6 XTB** 0.8 1.4 2.0 1.7

	EUR/USD	USD/JPY	GBP/USD	AUD/USD
HYCM*	1.8	2.3	2.5	2.5

*Minimum spread for fixed account. Spread data was removed from the broker’s website on 01.07.2019 at 12:40.
**Spread data was taken from the broker’s trading platform on 26.09.2019 at 12:26.

HYCM Review Summary

HYCM must comply with the strict regulatory guidelines of the CySEC regulatory authority. The broker offers quite a number of CFDs and two popular trading platforms – MT4 and MT5. The minimum deposit is low at just $100, and a demo account is also available for free, but unfortunately only for 14 days.

What I find a bit disappointing with HYCM is that they don’t have actual live spreads on the site, or at least average spread values. I’m afraid that if the minimum spreads are as they are, the real ones will be much bigger.

Pros

• Czech language supported

Cons

• time-limited demo account
• live spreads not available