Getting into the list of markets and assets on offer, it is key to note that HYCM is a forex and CFD broker, so the markets offered are all as CFDs.
A total of 69 currency pairs are made available by HYCM. This is a strong range and as mentioned, the spread starts from 0.2 pips on a raw account, or from 1.4 pips with a Classic, and 1.8 pips with a Fixed Account. The maximum leverage for EU/UK traders is 30:1.
A total of 10 commodities can be traded, all as CFDs. These include Gold, Silver, Copper, Brent and US Oil. The spreads here start out from 3 pips on the Classic and Raw Account while the EU/UK trader maximum leverage is 20:1.
28 indices are traded here as CFDs. Some of them include the US100, US500, UK100, and JPN225. The spread starts from 0.2 pips on the US500 Index CFD with the Raw Account and Classic Account. You will find 20:1 leverage available if you are an EU or UK trader.
Stocks can also be traded as CFDs here and there are 10 to choose from including Amazon, Apple, Facebook, Google and Microsoft. The spread starts from 5 pips on some of these assets through the Classic and Raw Account, and the margin here is from just 20%
CFD trading in crypto is available from HYCM but only to HYCM Limited clients only, and not for EU clients. It’s also not available for HYCM UK clients anymore.
Through his CIMA regulated entity you can have leverage of up to 20:1 so you need to be careful as the market can be very volatile. Available assets include Bitcoin, Ethereum, Ripple, EOS, Monero, and Stellar.
HYCM also recently started offering the ability to trade ETFs as CFDs through the MT5 trading platform. There are 20 available in total and again, the leverage can reach 20:1. These too are available under the CIMA regulated entity.
Execution, leverage and position sizing
Below are a few of the key trading features that you will find when trading through the broker:
HYCM is a Market Maker Broker. With that said, they do offer a direct ECN style connection to their network of liquidity providers if you are trading through a Raw account.
The HYCM leverage you can operate with depends on the regulatory authority you are trading under and the assets you are trading.
Under FCA and CySEC regulation, the maximum leverage is 30:1 on major forex pairs.
Under DFSA regulation, this maximum leverage increases to 50:1 on major forex currencies, while under the global entity, the maximum leverage is 500:1 on major and minor forex pairs.
The minimum trading size with HYCM is 0.01 lots. This is how much you need to purchase to open any kind of trade.
HYCM in combination with the trading platforms they provide, offer a strong range of risk management tools. This includes the ability to set a stop loss, take profit, limit orders, and trailing stops. The broker also utilizes margin calls if you are trading on leverage.
The trading hours of the broker will actually depend on the asset you are trading, though Normal trading hours are between 23: 01 GMT on Sunday night and 21: 00 GMT on Friday night, with some exceptions.
Forbidden trading techniques
A big miss here from the broker is the fact that scalping is not permitted. Even so, some other techniques are allowed. This includes hedging and the use of EAs as a kind of auto trading feature.
Platforms & Mobile
Here is a more detailed look at the trading platforms HYCM has to offer, and what they can provide for your trading experience.
Charting and Trading tools
When it comes to the availability of charting and trading tools, you will find many through the HYCM trading platforms provided. These MT4 and MT5 platforms are well known as having some of the most well-resourced selections of charts and tools.
There are in excess of 50 charting tools at your disposal across these trading platforms alongside excellent indicators and charting capabilities.
Both MT4 and MT5 are offered as trading platforms by HYCM and are available as desktop and web-based platforms. They are extremely well-established in the industry and provide some of the very best experiences to traders who value a robust, intuitive, comprehensive trading experience.
On top of a huge amount of technical prowess as showcased by the number of features and tools available, the platforms also provide the EAs feature that can be really valuable in enhancing your auto trading capabilities. You should note that some assets are only available to trade with the MT5 trading platform.
The HYCM mobile trading experience is also an excellent one. This is offered through the MT4 and MT5 mobile app which is again extremely clear, user-friendly, and highly customizable just like its desktop and web counterparts.
The mobile platforms incorporate a handy chat function on top of the majority of the same great features to be found in the desktop and web-based versions. The platforms are available both on Android, and iOS devices.
Features you can find on HYCM
Social Trading – Copy Trading
No direct social or copy trading services are offered by the broker. What you can do is utilize the EAs feature in your trading platform to import strategies from the wider community as a form of copy trading. This is permitted.
HYCM Deposit Bonus
A HYCM deposit bonus is offered, but only to traders with their CIMA regulated entity. It is not available to the UK or EU entities. This bonus provides for a deposit credit of 10% on every deposit of $100 or more up to a maximum $5,000.