HYCM Spreads, leverage, minimum deposit Revealed

HYCM Information

　　HYCM is a broker. The tradable instruments include CDFs on forex, commodities, stocks, cryptos, and indices. The broker also provides three accounts with a maximum leverage of 1:1000. The minimum spread is from 0.1 pips and the minimum deposit is $20.

Pros and Cons

Is HYCM Legit?

　　HYCM is regulated by FCA with license number 186171, which is much safer than unregulated brokers. The license type is Market Making(MM).

What Can I Trade on HYCM?

　　HYCM offers a wide range of market instruments, including CDFs on forex, commodities, stocks, cryptos, and indices.

Account Type

　　HYCM has three account types: fixed, classic, and raw. Traders who want low spreads can choose a raw account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only. Islamic users are allowed to open Islamic accounts with no swap fees.

HYCM Fees

　　The spread starts at 0.1 pips, the swap is free, and the commission starts at 0. The lower the spread, the faster the liquidity.

Leverage

　　The maximum leverage is 1:1000 meaning that profits and losses are magnified 1000 times.

Trading Platform

　　HYCM cooperates with the authoritative MT4 and MT5 trading platform and a propriety trading platform available on the Web, Windows, and Mobile(Android/iOS) to trade. Junior traders prefer MT4 over MT5. Traders with rich experience are more suitable for using MT5. MT4 and MT5 provide various trading strategies and implement EA systems.

Deposit and Withdrawal

　　The minimum deposit is $20. HYCM accepts Shutterstock, Visa, Mastercard, Neteller, Skrill, Crypto, AstroPay, WebMoney, PayTrust, Fasapay, Zotapay, and Lipi for deposit and withdrawal. The deposit processing times are up to 1 hour and 1 to 7 working days and associated fees are $0. The withdrawal processing times are up to 24 hours and 1 to 7 working days and associated fees are $0.