Most other brokers offer various technical analysis tools such as Autochartist, VPS services, and various copy trading platforms. If you are looking for a trusted, beginner-friendly trading platform with more than 3,000 assets to choose from, capital.com is definitely among the best options. The low minimum deposit of $20 is also a great advantage for trading beginners just starting out and looking to get a first glimpse at the trading universe.
It provides access to a wide range of assets, including forex, commodities, indices, and cryptocurrencies. Yes, HYCM offers demo accounts where traders can practice with virtual funds. These demo accounts are available on the same platforms (MT4, MT5, and HYCM Trader) as live accounts, allowing users to test strategies and familiarize themselves with the platform.
Stocks
You can also use unlimited charts, which our HYCM review team feels will particularly appeal to advanced traders. You will notice that HYCM charges fees in the form of spreads for most account types. The exception is Raw accounts, which have tighter spreads as well as commissions.
Educational Material
Next, choose your password, accept the terms and hit ‘Submit.’ On completion of the initial verification, create a demo account from the HYCM client area by filling out some basic info. Once done, you would immediately receive the username and password. There is also a main Education page, offering tutorials, trading tools, trading strategies, and videos to help clients use MT4. Here, you can find lessons for all skill levels, including Advanced Technical Analysis and Basic Forex Terms.
How to open an account at HYCM
77-85% of retail investor accounts lose money when trading CFDs with the providers presented on this site. The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations. The HYCM brokerage firm has a solid and trustworthy reputation in the current global economy.
Please be aware that this might heavily reduce the functionality and appearance of our site. You can withdraw money from HYCM to debit cards, credit cards, bank transfers, Payoneer, Paypal, and WebMoney, for example. Keep in mind that if you withdraw less than $300 by wire transfer, HYCM will charge you an additional $30 processing fee on top of your deposit. In that case, you can do so by selecting Open an account, setting the Henyep-DemoEU server, and clicking on the Next button. You will subsequently be issued the login information for your sample account.
- Additionally, MetaTrader 4 is available across a range of devices, including applications from both Google Play and the Apple App Store.
- There are five main cryptocurrencies, but 13 cryptocurrencies are available overall.
- With its roots firmly in London, HYCM has grown to serve traders across more than 140 countries.
HYCM’s MT4 and MT5 applications are beginner-friendly and well-designed and it is easy to navigate the various folders. As soon as you have signed up for your account, please contact your account manager, and they will convert the account to swap-free status. Traders should note that although no interest is charged on Islamic accounts, once a position has remained open for longer than 14 days, traders are charged a fee of 5 USD per contract per night. HYCM additionally has an FAQ section in the Help Center that is reasonably robust. The questions are divided into intuitive categories, and there is a convenient search feature. The website is available in 12 languages, helping the global audience that HYCM aims to attract.
HYCM offers a variety of account types to suit different trading strategies, from predictable spreads with the Fixed Account to tight spreads with the Raw Account. With the added benefit of an Islamic Account and options like VIP and demo accounts, HYCM provides flexibility for both new and experienced traders. Whether you’re just starting or looking for advanced features, HYCM has you covered. I think that all hycm reviews should be based on a lot of trading experience, because it is hard to write a full honest broker review if you have been trading with them for 1 month. I think that during this time it will not be possible to take advantage of all the advantages of the broker or notice some disadvantages. Speaking of hycm broker we know that there are many things that I’d like to mention.
Whether you’re drawn to its straightforward tools or proven track record, HYCM offers a decent starting point. That said, always compare broker features to your trading needs before you invest money. While most withdrawals are free of charge, a 1% fee applies to withdrawals over $5,000 made via Skrill or Neteller.
You’ll then get access to the trading platform with your login credentials. Introducing Brokers can benefit from multi-level rebate tiers, free market reviews, and local office support. Commissions are earned through rebates based on the number of clients referred to HYCM, making it an excellent opportunity for those with a strong network. Yes, HYCM provides negative balance protection, ensuring that traders cannot lose more than their initial investment, even during times of high market volatility. Here you mentioned one downside – it’s unavailable for American traders. Some broker’s branches offers small leverage for hycm review currencies, but it’s because of local regulation, but the broker is fine.
- Affiliates also have access to marketing materials, real-time analytics, and dedicated account support.
- Depending on the user’s preferred language, HYCM’s customer service support is available in Arabic, Chinese, French, German, Polish, Russian, and Spanish.
- Our HYCM UK review suggests VIP accounts for those who plan to trade in higher volumes.
- I lost a lot and earned a lot, but of course the interest was very strong, so over time, with experience, everything entered the format when I clearly learned how to distribute capital, forces and time.
- It’s an adequate brokerage that works well and stays on the market long enough.
How can the Economic Calendar help me with my trading strategy?
But webinars here, although the content is good, but they are very rare and cannot be used as a regular part of the work. HYCM stands out with its strong regulatory presence across top-tier jurisdictions such as FCA and DFSA, ensuring a high level of safety and credibility. However, other brokers like OANDA and CMC Markets benefit from even wider regulatory coverage across multiple regions. The broker also has offices in major cities around the world, including London, Hong Kong, Kuwait, and Dubai, while complying with the regulatory agencies in each jurisdiction. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Forex, Gold & Silver:
This allows you to trade in the same market conditions as you would with a live account but with virtual funds instead of real money. XAUUSD Spot Gold (100 oz.) now features a fixed spread of 35 cents. A variable spread starting at 25 cents with a classic fund, and a raw spread beginning at 17 with all account types, with a limit and stop value of 7. This is done by placing market orders, and pending orders, viewing live market prices, and tracking all funds and equity in real-time.
I would’ve preferred a broker to have 24/7 customer support but 24/5 customer support with a dedicated personal account manager available at all times for any queries is just as good too. There are over 300 trading instruments to trade across 6 asset classes with raw spreads from 0.2 pips and an average execution speed of just 12 milliseconds. However, you can get zero spreads and top class execution speeds from Pepperstone as an alternative option. HYCM does not offer traders any additional tools beyond an Economic Calendar, the services of Trading Central, and a trading calculator.
Deposit and Withdrawal
The integrated economic calendar supports fundamental analysis, and enhanced charting tools ensure precise insights. The account is available to traders who declare adherence to Islamic faith principles. The onboarding process requires traders to submit valid identification and proof of address, aligning with international financial regulations.
Small retail traders can easily open a live trading account with a minimal deposit, making it accessible to a broad audience. Beginners are also welcomed, benefiting from a dedicated customer support team and comprehensive educational and research resources. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
If you are not sure what account to choose, there is a short questionnaire that will help identify the most suitable for you. HYCM offer Trading Central’s award winning analysis tools to use on their platforms to assist traders with their trading decisions. These tools include Alpha Generation, Risk Management and Indicators Lab.
You can also create your own indicators, templates and automated trading systems. I really enjoy customising my screen to suit my preference so this is something I look out for as well. There are 100 instruments available to trade through HYCM’s MT4 platform. The recent news section of the HYCM website provides the most relevant news affecting the markets. This news comes from FXDailyInfo, which is a common source of information used by brokers. FXDailyInfo is considered highly reputable and our HYCM review team urges you to pay attention to the analysis provided.