HYCM Minimum Deposit Guide

filippo ucchino Filippo Ucchino calendar Last Updated: September 2022 timer 6 Min Read

The HYCM minimum deposit is $100 if you choose a Fixed or Classic account and $200 if you opt for a Raw account.

Also, the minimum deposit may change depending on the HYCM funding method you choose.

Let’s dive in and find more about HYCM minimum deposit.

Table of Content

Round-Up

 Features FXTM Minimum Deposit
HYCM Fixed Account $10
HYCM Classic Account $100
HYCM Raw Account $200
HYCM Islamic Account $100 ($200 for Raw Islamic Account)
Deposit Fees No
Withdrawal Fees No
Base Currencies USD, EUR, GBP, RUB, AED, CAD

You can go deeper into the broker’s offering by consulting our HYCM account types guide and their features.

Visit HYCM (58% of retail CFD accounts lose money)

HYCM Account Base Currency

Your account base currency is the currency you use to make deposits and withdrawals from your account, as well as trading. When it comes to the HYCM base currencies, you will find several are available.

These are:

  • USD
  • EUR
  • GBP
  • RUB
  • AED
  • CAD

This is a good selection which is important in helping you to avoid any conversion fees that can be charged if you deposit or withdraw to a non-base currency. Note that availability of the base currencies depends on your location.

HYCM Funding and Deposit Methods

As you would expect from a major broker like HYCM, there are several funding options available to you. Each of these has its own minimum requirement and processing time. You can view each of these in more detail through the descriptions below.

HYCM Wire transfer Deposit

Wire deposit is the first method available and of course, this is a method you will always find available at a major broker. The HYCM minimum deposit for a bank wire transfer is $250.

There are no fees from the broker side for this deposit, though you should definitely double-check with your bank to see if any fees are charged from your bank side, before making the deposit. A wire transfer may take up to 7 working days to reach your trading account.

HYCM Credit Card Deposit

HYCM credit and debit card deposits are supported, though only if they are using a Visa or Mastercard. The minimum deposit using this method is $20.

Again there are no fees from the broker side. The processing time is also very fast and should typically be completed within one hour.

HYCM eWallets Deposit

eWallet deposits from Neteller and Skrill are both accepted by HYCM. Again here the minimum deposit required is just $20.

As with credit and debit card deposits, there are no fees from the broker and the deposits are typically available to trade within just 1 hour at most.

HYCM Other Deposit Methods

Depending on where you are based, the broker may offer some specific local deposit methods. These can include WebMoney, China Union Pay, Perfect Money, Interact, and even the use of some virtual cards to enable you to make a deposit. Bitcoin deposits are also facilitated depending on your location. Fees and processing times here could vary depending on the area and method used.

How to Deposit Funds into your HYCM Account: Steps-by-Steps Tutorial

Here is how you can make a deposit to your HYCM account:

  1. The very first step you should consider is opening a demo account. This is a great possibility to learn more if you are a new trader. All you have to do is head to the broker’s website (58% of retail CFD accounts lose money). You can then open a live account when you are ready. In case you find it useful, you can read our best forex brokers beginners top ten.
  2. Once you are ready to open a live account you can do so directly through the website of the broker, by also selecting the account type you want.
  3. After that, you need to make HYCM verify your account before you start trading. You will need an ID or a passport to prove your identity, and a bank statement or utility bill to prove your address.
  4. With your account verified, you will be ready to make your first deposit. You can select to make your deposit, as said before: bank wire, credit/debit cards, different e-wallets.
  5. Once you have deposited into your account, wait for it to be processed. The time of processing depends on the method used. Remember that the withdrawal method for when you will withdraw must match the one used for deposits.

HYCM Minimum Deposit vs Other Brokers

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

HYCM AVATRADE PEPPERSTONE
Minimum Deposit $100 $100 $0 ($200 recommended)
Wire Transfer Yes Yes Yes
Credit Card Yes Yes Yes
PayPal No No Yes
Number of deposit methods 8 6 9
Account currencies USD, EUR, GBP, RUB, AED, CAD USD, EUR, GBP, JPY, AUD AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD

HYCM Deposit Bonus

A HYCM deposit bonus may be offered depending on your location. If you are trading with the UK or European entities this will not be available due to regulatory requirements, but if you are trading under CIMA regulation, then a deposit bonus is offered.

The broker offers a 10% credit bonus on every deposit over $100 that you make up to a maximum amount of $5,000.


About The Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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