Highlights at HYCM
HYCM offer competitive spreads and different account types to suit the needs of different traders. They offer both the the ever-popular Meta Trader 4 platform as well as the newer Meta Trader 5 platform offering. HYCM have multiple offices, including one based in the UK (regulated by the UK FCA) and one in Cyprus (regulated by CySec). They also have a subsidiary regulated under the Cayman Islands Monetary Authority.
Markets Covered
45+ Currency Pairs - Based on major and minor world currencies.
5 Crypto Pairs - Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
16 Index CFDs - Based on baskets of different blue-chip stocks.
4 Metal Spot CFDs - Based on Gold and Silver.
3 Metal Futures - Based on Gold, Silver and Copper, platinum, palladium.
1 Energy Spot CFD - Based on Crude Oil (WTI).
3 Energy Futures - Based on Crude Oil (WTI, Brent) and Natural Gas.
4 Soft Futures - Based on Cocoa, Coffee, Sugar, Cotton.
180+ Stock CFDs - Based on shares of US companies..
Overview of the HYCM Trading Platform
Trade Responsibly! 67% of CFD Clients Lose Money.
Training Facilities
Latest market news and know-how is covered including video podcasts covering markets and trading insights.
They also offer market research by Trading Central.
Typical Spreads
GBP/USD: 0.8 + $4
USD/JPY: 0.6 + $4
FTSE: 1.5pt
Oil: 3pt
Dealing Commissions and Fees
HYCM offer both fixed and variable pricing mechanisms to suit the needs of different traders. Fixed ones amount to 1.8 pips on EUR/USD while most fixed-spread brokers offer 2 – 3 pips in spread. Variable spreads on the Classic accounts are also competitive, but the trading costs on Raw account types are the lowest and the most attractive.
Financing Charges
HYCM's overnight fee or a swap rate determined by the overnight interest rate involved in a long opened position, whether its a buy ‘long’ or sell ‘short’. The fee originally varies from one currency to another, for example EURUSD buy order will equal -3.25%, while selling will add 1.25% respectively. .
Accounts Available and Credit Facilities
Deposit Accounts. No Credit.
Minimum Stake and Deposit
HYCM minimum stake is £0.01 lot. Minimum deposit is $100.
Stop and Limit Orders Available
Offer contingent/Trailing and Non and Guaranteed stops but not OCOs.
Basis for Triggering of Stops
Your stop loss will be executed when HYCM's bid/ask price reaches your stop loss level.
Opening Hours
Open for trading 24/5 (Sunday 10PM - Friday 10PM, London Time).
Research and Charting
Full charting, with technical analysis possible directly on the live charts.
Support
Good e-mail, live chat and telephone support.
Details and Signup Incentives
HYCM offer competitive spreads and different account to suit the needs of different traders. Both the MT4 and MT5 platforms offer a demo account..
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