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Do you want to know which is the better broker between FXTM and HYCM ?
In the table below, you can compare the features of FXTM , HYCM side by side to determine the best fit for your needs.
EURUSD: -0.2
XAUUSD: 0.3
Long: -7.62
Short: 1.97
Long: -40.54
Short: 20.56
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fxtm, hycm lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
FXTM | Basic Infromation |
Registered Country/Region | United Kingdom |
Founded in | 2011 |
Headquarters | Cyprus, UK, Belize |
Regulated By | FCA, CySEC, FSCA (Out of Scope Business) |
Minimum Deposit | $10 |
Leverage | Up to 1:2000 |
Account Types | Micro, Advantage, and Advantage Plus |
Demo Account | Yes |
Trading Instruments | Forex, Commodities, Indices, Shares, Cryptocurrencies |
Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
Mobile Trading | Yes |
Islamic Account | Yes |
Payment Methods | Credit/Debit Cards, Bank Wire, E-wallets |
Minimum Spread on EUR/USD | From 0.1 pips |
Customer Support | 24/5 Live Chat, Email, Phone |
Educational Resources | Yes |
Negative Balance Protection | Yes |
FXTM, or Forex Time, is a global forex and CFD broker founded in 2011. The company is headquartered in Cyprus and is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and other regulatory bodies in various countries. FXTM offers a variety of trading instruments, including forex, commodities, indices, shares, and cryptocurrencies.
FXTM is its extensive range of account types, which cater to traders of all experience levels and preferences. The broker offers five different account types, including the Micro, Advantage, and Advantage Plus accounts, as well as demo accounts and Islamic accounts. Each account type comes with its own unique features, including different leverage options, spreads, and minimum deposit requirements. In terms of trading fees, FXTM offers variable spreads on most of its instruments, with spreads starting from as low as 0.1 pips.
FXTM also offers a range of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are available in desktop, web, and mobile versions, allowing traders to trade on the go and from anywhere in the world.
Lastly, FXTM provides customer support in multiple languages, which is available 24/5 via live chat, email, and phone. The broker also offers a range of educational resources, including webinars, seminars, and trading guides.
FXTM is currently regulated by two reputable regulatory bodies, the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulatory bodies ensure that the broker operates within strict guidelines and rules.
Forextime Ltd (Its CYSEC entity), is authorized and regulated by the Cyprus Securities and Exchange Commission (CYSEC) under regulatory license number 185/12.
Exinity UK Ltd, its UK entity, is authorized and regulated by the Financial Conduct Authority (FCA) under regulatory license number 777911.
FOREXTIME LTD is authorized by the Financial Conduct Authority (FSCA), holding a license of Financial Service Authority under license no. 46614.
FXTM is a well-known broker that offers a range of trading services to its clients, including forex, commodities, and CFDs. While there are many benefits to trading with FXTM, there are also some drawbacks to consider. In this table, we'll take a closer look at the pros and cons of trading with FXTM, so you can make the right choice about whether this broker is right for you. Some of the pros we'll cover include their range of account types, competitive spreads, and excellent customer support, while some of the cons we'll discuss include the lack of cryptocurrency trading and high withdrawal fees.
Pros | Cons |
Regulated by top-tier financial authorities, FCA and CYSEC | Limited product offerings compared to some competitors |
Wide range of account types for different trading needs | High inactivity fee |
Low minimum deposit requirements | Limited payment methods |
Demo Accounts Available | Limited research tools and resources |
Islamic Accounts Available | |
Access to a variety of trading platforms, including MT4 and MT5 | |
Multiple funding and withdrawal options | |
Rich Eductaional Resources | |
Rich Trading Tools | |
High-quality customer support |
FXTM offers a diverse range of trading instruments for its clients, which includes forex, spot metals, CFD commodities, stock, stock CFDs, and CFDs on indices. The forex market is the largest financial market in the world, and FXTM provides access to a wide range of major, minor and exotic currency pairs. This means that traders have the flexibility to trade the currency pairs that best suit their trading strategies.
In addition to forex, FXTM offers trading in spot metals, which include gold, silver, and platinum. Spot metals can be a useful tool for diversifying a portfolio or hedging against inflation or geopolitical risks. FXTM also provides CFD trading in commodities, such as oil, natural gas, and agricultural commodities. CFD trading allows traders to speculate on the price movements of these commodities without having to own them physically.
FXTM also offers trading in stocks and stock CFDs. With access to global markets, traders have the opportunity to invest in some of the world's leading companies, such as Apple, Amazon, and Facebook. Moreover, traders can benefit from dividend payments when holding stock CFDs for the long term.
Finally, FXTM provides CFD trading on indices, which allows traders to speculate on the performance of a particular stock market. This is particularly useful for traders who want to take a broader view on the direction of a market, rather than focusing on individual stocks.
Overall, FXTM's range of market instruments provides traders with a wide variety of opportunities to diversify their trading portfolio and explore new trading strategies.
Pros | Cons |
Offers a wide range of markets to trade, including forex, spot metals, and CFDs on commodities, stocks, and indices | Limited selection of individual stocks compared to some competitors |
Competitive spreads and commissions | Margin requirements on some instruments may be higher than other brokers |
Access to both major and minor forex pairs, as well as exotic currency pairs | Limited cryptocurrency offerings compared to some competitors |
Opportunity to diversify portfolio with a variety of markets | The number of CFDs on commodities may be limited compared to other brokers |
Offers both MetaTrader 4 and MetaTrader 5 platforms for trading | Availability of certain markets may vary depending on the trader's location |
FXTM offers three different types of trading accounts, which are the Micro account, the Advantage account, and the Advantage Plus account. The Micro account requires a minimum deposit of $10, the Advantage account requires a minimum deposit of $100, and the Advantage Plus account requires a minimum deposit of $500.These account types are designed to cater to the varying needs and preferences of traders, ranging from beginner traders with limited capital to experienced traders looking for more advanced trading features. Each account type has its own unique features and benefits, such as different minimum deposit requirements, leverage ratios, and spreads, allowing traders to choose the one that suits them best. The Micro account is ideal for novice traders with a limited budget, while the Advantage account is suitable for experienced traders who require advanced trading tools and a competitive trading environment. The Advantage Plus account is designed for professional traders who require high-volume trading and personalized support from a dedicated account manager.
Pros | Cons |
Micro account has low initial deposit | Micro account has higher spreads compared to other types |
Advantage account has low spreads | Advantage account has a higher minimum deposit |
Advantage Plus account offers lower commissions | Advantage Plus account has the highest minimum deposit |
FXTM offers demo accounts for all its account types, including Micro, Advantage, and Advantage Plus. These demo accounts allow traders to test their trading strategies in a risk-free environment using virtual funds. Demo accounts are also useful for new traders who want to learn how to trade before committing real money to live trading. With FXTM's demo accounts, traders can access all the trading tools and features available in the live trading platform. The demo accounts are also available in multiple languages, making it accessible for traders from different countries. However, it's important to note that demo trading doesn't completely simulate the emotional and psychological aspects of real trading, which could affect a trader's performance in the live markets.
To open an account with FXTM, you first need to visit their website and click on the “OPEN ACCOUNT” button on the top right-hand corner of the page.
This will take you to the account registration page where you will need to fill out some basic personal information like your name, email address, and phone number.
Next, you will be asked to choose the type of account you want to open. FXTM offers three main account types - Micro, Advantage, and Advantage Plus, each with its own features and benefits. You will also need to select the base currency of your account and agree to the terms and conditions of the broker.
Once you have selected your account type and base currency, you will be prompted to provide some additional personal information like your date of birth, occupation, and address. You will also need to answer a few questions about your trading experience and investment goals.
After you have completed the registration process, you will need to verify your account by providing some additional documents like a copy of your ID or passport and a proof of address like a utility bill or bank statement.
Finally, once your account is verified, you can then make your first deposit and start trading.
FXTM offers leverage of up to 1:2000, depending on the account type and trading instrument. The highest leverage is available for forex trading on the FXTM Pro account, while the other account types offer leverage up to 1:30 for EU traders and up to 1:2000 for non-EU traders. It's important to note that while high leverage can increase potential profits, it also increases the risk of losses. Therefore, it's recommended to use leverage wisely and only trade with funds you can afford to lose. FXTM also offers negative balance protection, which ensures that traders can not lose more than their account balance. This feature can provide additional peace of mind when trading with high leverage.
The spreads and commissions vary depending on the account type. For the Micro account, the spreads start from 1.5 pips, and no commission is charged. For the Advantage account, the spreads start from 1.1 pips, and a commission of $2 is charged per lot. For the Advantage Plus account, the spreads start from 0.0 pips, and a commission of $4 is charged per lot. It's important to note that the spreads are floating and may widen during periods of high market volatility.
The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage and Advantage Plus accounts. The Micro account, however, has slightly higher spreads, which is to be expected due to the smaller minimum deposit requirement.
Here we have created a comparison table of the average spreads and commissions offered by FXTM and some other popular forex brokers such as IC Markets, Exness, and FP Markets:
Broker | EUR/USD Spread | Commission | Minimum Deposit |
FXTM (Micro) | 1.5 pips | No commission | $10 |
FXTM (Advantage) | 0.5 pips | No commission | $100 |
FXTM (Advantage Plus) | 0.1 pips | No commission | $500 |
IC Markets (Raw Spread) | 0.1 pips | $7 round turn | $200 |
Exness (Raw Spread) | 0.3 pips | No commission | $1 |
FP Markets (Raw Spread) | 0.0 pips | $7 round turn | $100 |
Apart from trading fees, FXTM charges some non-trading fees that traders should also consider before choosing this broker. Some of the non-trading fees charged by FXTM include inactivity fee, withdrawal fee, deposit fee, and overnight fee. The inactivity fee is charged when a trader does not perform any trading activity on their account for a period of 6 months. The fee charged is $5 per month. Withdrawal fees vary depending on the method used, with bank transfers attracting a higher fee compared to e-wallets. Deposit fees are not charged for most methods, but a 2.5% fee is charged when depositing via Neteller. Overnight fees are charged when a position is held open overnight, and they vary depending on the instrument being traded
Here is a table showing the comparison of non-trading fees charged by FXTM and some other popular forex brokers:
Broker | Inactivity Fee | Deposit Fee | Withdrawal Fee |
FXTM | $5/month after 6 months of inactivity | Free | Fees may occur |
Avatrade | $50/quarter after 3 months of inactivity | Free | Fees may occur |
IC Markets | $0 | Free | Fees may occur |
Exness | $0 | Free | Fees may occur |
FP Markets | $0 | Free | Fees may occur |
FXTM offers a range of trading platforms, including the popular MetaTrader 4 and 5 platforms, as well as their proprietary trading platform called FXTM Trader. The MetaTrader 4 and 5 platforms are known for their ease of use, comprehensive charting tools, and customizability, while FXTM Trader offers advanced features such as price alerts, multiple chart types, and a news feed.
One of the main advantages of using MetaTrader 4 and 5 is the vast community of traders who have developed and shared custom indicators and trading strategies, making it easy to find and use powerful tools that can help improve your trading performance.
Another advantage of FXTM's trading platforms is their compatibility with a range of devices, including desktop, mobile, and web-based platforms, making it easy to trade on the go or from any device.
Here's a table comparing the trading platforms offered by FXTM, IC Markets, Avatrade, and Exness
Broker | Platform Types | Desktop | Web-Based | Mobile |
FXTM | MT4, MT5, FXTM Trader | ✔ | ✔ | ✔ |
IC Markets | MT4, MT5, cTrader | ✔ | ✔ | ✔ |
Avatrade | MT4, AvaTradeGO, WebTrader | ✔ | ✔ | ✔ |
Exness | MT4, MT5 | ✔ | ✔ | ✔ |
FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using credit/debit cards, bank wire transfers, e-wallets, and other online payment methods. The minimum deposit amount varies depending on the account type selected by the trader.
For credit/debit card deposits, FXTM accepts Visa, Mastercard, and Maestro. There are no deposit fees for credit/debit card transactions, and funds are usually credited to the trading account instantly.
Bank wire transfers are also available as a deposit option. This method takes longer to process compared to other deposit methods and may incur charges from the bank. The minimum deposit amount for bank wire transfers varies depending on the currency selected, and it may take up to five business days for funds to appear in the trading account.
E-wallets such as Skrill, Neteller, and WebMoney are also accepted by FXTM. Deposits made through e-wallets are usually credited to the trading account instantly and are free of charge. The minimum deposit amount for e-wallet transactions varies depending on the selected e-wallet.
Withdrawals can be made using the same methods as deposits, with the exception of Mastercard. Withdrawals made through credit/debit cards may take up to three business days, while withdrawals made through e-wallets are usually processed within 24 hours. Bank wire transfers may take up to five business days for the funds to be credited to the trader's bank account.
FXTM may charge withdrawal fees for some methods. Traders are advised to check the fees and processing times associated with each method before making a deposit or withdrawal.
Pros | Cons |
Multiple deposit and withdrawal methods | Some withdrawal methods may have higher fees |
No deposit fees | Minimum withdrawal amounts may be higher than other brokers |
Fast deposit and withdrawal processing times | Some deposit methods may not be available in certain regions |
Supports various currencies for transactions |
FXTM is known for providing excellent customer support to its clients. The broker offers various channels for clients to contact their support team, including live chat, email, and phone support. The customer support team is available 24/5 and is multilingual, which means clients can communicate with them in their preferred language.
FXTM also provides an extensive FAQ section on their website that covers various topics, such as account opening, deposit and withdrawal methods, trading platforms, and more. This section is helpful for clients who prefer to find answers to their questions without contacting the support team.
Pros | Cons |
Live chat support available | No 24/7 customer support |
Fast response times | No phone support for some countries |
Knowledgeable and helpful staff | Limited educational resources for clients |
Various support channels available | |
A FAQs section |
FXTM offers various educational resources to its clients to enhance their trading skills and knowledge. These resources include webinars, seminars, articles, e-books, educational videos, and more.
Webinars and seminars are live sessions conducted by market experts and analysts who provide insights and analysis on market trends and trading strategies. The sessions cover a wide range of topics, including technical and fundamental analysis, risk management, and trading psychology. The webinars and seminars are interactive, allowing clients to ask questions and get feedback from experts.
FXTM also provides a wide range of educational articles and e-books that cover a variety of trading topics. These resources are available to all clients, regardless of their account type, and can be accessed on the FXTM website.
In addition to these resources, FXTM offers educational videos that cover various aspects of trading, including market analysis, trading strategies, and risk management. These videos are designed to be engaging and informative, making them a useful tool for traders at all levels of experience.
Pros | Cons |
Wide range of educational resources available | Some resources may be outdated or not relevant |
Multiple formats available (webinars, articles, etc.) | Limited in-depth educational resources |
Demo account available for practice trading | Educational resources may not be suitable for all levels of traders |
Educational resources available in multiple languages | Some resources may require a subscription or additional fees |
FXTM is a well-regulated and respected forex broker with a wide range of market instruments, competitive trading conditions, and user-friendly trading platforms. They offer various account types with reasonable minimum deposits and leverage options. FXTM's customer support is also responsive and helpful, while their educational resources can be useful for both novice and experienced traders.
However, there are also some potential drawbacks to consider. FXTM's non-trading fees, such as withdrawal fees, can be high, and their spreads can be wider than some of their competitors. Additionally, some traders may find their educational resources lacking in depth or variety.
Q: Is FXTM regulated?
A: Yes, FXTM is regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
Q: What trading instruments are available on FXTM?
A: FXTM offers a range of trading instruments including forex, spot metals, CFD commodities, stock CFDs, and CFDs on indices.
Q: What types of trading accounts are available on FXTM?
A: FXTM offers three main types of trading accounts: the Micro account, Advantage account, and Advantage Plus account.
Q: What is the minimum deposit required to open an account on FXTM?
A: The minimum deposit required for each account type on FXTM is as follows: Micro account - $10, Advantage account - $100, and Advantage Plus account - $500.
Q: What trading platforms are available on FXTM?
A: FXTM offers a range of trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Q: What are the deposit and withdrawal options on FXTM?
A: FXTM offers a variety of deposit and withdrawal options including bank transfers, credit/debit cards, and e-wallets such as Skrill, Neteller, and more.
Q: What are the deposit and withdrawal options on FXTM?
A: FXTM offers a variety of deposit and withdrawal options including bank transfers, credit/debit cards, and e-wallets such as Skrill, Neteller, and more.
Registered in | United Kingdom |
Regulatory status | FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands |
Year(s) of incorporation | more than 40 years |
Market instruments | more than 40 currency pairs, precious metals, commodities, indices, stocks and cryptocurrencies |
Minimum initial deposit | $100 y $200 |
Maximum leverage | 1:500 |
Minimum spread | From 0.1 pips |
Trading platform | MT4, MT5 |
Deposit and withdrawal methods | bank transfers, credit and debit cards, Neteller, Skrill, perfect Money, etc. |
Customer Service | E-mail/phone number |
Fraud allegations | Not yet |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
- Wide range of financial instruments available for trading.
- MT4 and MT5 trading platforms available, as well as a proprietary platform called PrimeTrader.
- A free demo account is available for traders to practice without risking their real money.
- Multilingual customer service available 24 hours a day, 5 days a week.
- HYCM offers an Islamic account for traders who require an interest-free account.
- Regulation by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands.
Cons:
- The minimum deposit of $100 may be high for some traders.
- The company does not accept traders from the United States.
Advantages | Disadvantages |
Registered and regulated by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands. | Registration and regulation in multiple jurisdictions can increase compliance complexity and costs |
A track record of more than 40 years on the market | Traders may prefer brokers that focus exclusively on the foreign exchange market, rather than offering a range of financial products. |
FCA and CYSEC regulation provides additional investor protection | Regulation does not guarantee security of funds and traders must do their own due diligence |
Compliance with regulatory requirements can increase transparency and accountability | Regulation may limit certain operations and trading strategies |
HYCM is a UK-registered forex broker and regulated by the Financial Conduct Authority (FCA), the Cyprus Securities Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA). With a track record of over 40 years in the market, HYCM has established itself as a leading broker in the foreign exchange trading industry.
In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.
HYCM is regulated by three major financial regulatory bodies: the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) and the Cayman Islands Monetary Authority (CIMA). They are all globally recognized regulators and have a high reputation in the financial industry. The FCA is known to be one of the strictest and most demanding regulators in the world, and its regulation is considered to be one of the most rigorous and reliable in terms of customer protection. On the other hand, CySEC is the financial services regulatory authority in Cyprus, a country known for its attractive regulatory and tax environment for investment firms. And finally, CIMA is the financial regulator for the Cayman Islands, a British overseas territory. Together, these three regulations offer strong customer protection and increased security for financial transactions conducted through HYCM.
Advantages | Disadvantages |
Offers more stable and fixed spreads | There may be a conflict of interest with customers |
Can offer faster execution | Prices may be less transparent |
Can provide greater flexibility in terms of leverage | There may be a risk of re-quoting |
Can offer protection against market volatility | There may be limitations in the trading strategy |
Offers a non-dealing desk account (Dealing Desk) | Prices may not reflect the true market |
HYCM is a Forex and CFD (Contracts for Difference) broker that offers access to a wide variety of financial markets through its online trading platform. As a broker, HYCM acts as an intermediary between its clients and the financial markets, allowing traders to buy and sell financial instruments without having to physically own them.
HYCM operates under a Dealing Desk, which means that bid and ask prices are set by the company itself. This can be beneficial for traders looking for more stable and fixed spreads, but it also means that HYCM may have a conflict of interest with its clients. To mitigate this risk, HYCM offers a Dealing Desk trading account, which allows traders to trade at direct market prices.
HYCM offers its clients a wide variety of trading instruments, which means that traders can trade in different markets and have a greater diversification of their portfolios. In terms of currency pairs, HYCM offers a selection of the major and most popular pairs, such as EUR/USD, USD/JPY, GBP/USD, and many others. In addition, traders can also trade a variety of precious metals, such as gold and silver, and commodities such as crude oil. A selection of indices is also offered, including the S&P 500, the FTSE 100 and the Nikkei 225. HYCM also offers its clients the possibility to trade stocks of some of the world's largest companies, such as Apple, Microsoft and Amazon. Finally, HYCM offers the option to trade cryptocurrencies, including Bitcoin, Ethereum and Litecoin. This means that traders can have access to some of the most volatile and exciting markets in the world, which can provide unique trading opportunities and potential profits.
1. HYCM charges variable spreads for its operations, which vary according to the type of account and trading instruments.
2. HYCM charges an inactivity fee of $10 per month after 3 months of account inactivity.
3. HYCM charges a commission of $4 per side for raw account transactions.
Advantages | Disadvantages |
Fixed Account: Offers floating spreads from 1.5 pips and does not charge commissions. | Spreads are less tight compared to the Raw account. |
Classic account: Offers spreads from 1.2 pips and does not charge commissions. | Spreads are less tight compared to the Raw account. |
Raw account: Offers spreads starting from 0.1 pips and charges a commission of $4 per lot traded. | It has a minimum deposit of $200, which can be inconvenient for traders who want to start with less capital. In addition, the commission can increase trading costs. |
Free demo account: Allows traders to practice and familiarize themselves with the trading platform before investing their real money. | There is no real risk involved in the demo account, which can make traders overconfident when trading with a live account. |
HYCM offers three types of trading accounts, with a minimum deposit of $100 for the classic/fixed account and $200 for the raw account. The available accounts are:
Fixed account: the Fixed account offers floating spreads starting from 1.5 pips, Min. position volume of 0.01 lot and allows trading more than 300 financial instruments, including currencies, commodities, indices and cryptocurrencies. In addition, a free demo account is offered for practice and learning, as well as an Islamic account.
Classic account: the classic account offers spreads starting from 1.2 pips and a commission of $0 per lot traded. The min. position volume is 0.01 lot and also allows trading of more than 300 financial instruments.
Raw account: the raw account offers spreads starting from 0.1 pips and a commission of $4 per lot traded. The main difference between the raw account and other accounts is that it has a minimum deposit of $200.
HYCM is also proud to offer a free demo account, allowing traders to practice and familiarize themselves with the trading platform before investing their real money.
HYCM's MT4 platform is one of the most popular and widely used in the world of online trading, with a large user base worldwide. With this platform, traders can access multiple technical analysis tools, customizable charts, technical indicators and expert advisors (EAs). In addition, traders can use the backtesting function to evaluate the effectiveness of their trading strategies and adjust them as needed.
On the other hand, HYCM also offers the MT5 platform for those who are looking for a more advanced trading platform. The MT5 platform is an enhanced version of MT4, with more advanced tools and features. The MT5 platform also offers the hedging function, which means that traders can simultaneously open long and short positions on the same instrument, which can be useful in certain trading strategies. In addition, MT5 also allows traders to access more markets and types of financial assets, including futures and options.
Advantages | Disadvantages |
Possibility of significantly increasing the potential benefits | Increased risk of loss |
Allows trading with a position of up to 500 times the initial capital. | Trading with high leverage can lead to rapid loss of funds |
It can be useful for experienced traders with well-defined strategies. | Can be dangerous for inexperienced traders or traders who do not manage risk well. |
Allows access to more markets and trading opportunities | It can generate a false sense of confidence and lead to over-operating. |
Allows trading large volumes with little capital | Good market knowledge and risk management are necessary for successful trading. |
HYCM offers a maximum leverage of 1:500 for currencies, which means that traders can trade with a position of up to 500 times their initial capital. This can significantly increase potential profits, but also increases the risk of losses.
Advantages | Disadvantages |
Wide variety of deposit and withdrawal options | Withdrawal processing times may vary depending on the payment method and the trader's banking institution. |
Low minimum deposit amount | |
No deposit or withdrawal fees | |
Fast processing of withdrawal requests |
HYCM offers a wide variety of deposit and withdrawal options, making it easy and convenient for traders to deposit and withdraw funds. Traders can make deposits using a variety of methods, including bank transfers, credit and debit cards, popular e-wallets such as Neteller and Skrill, and other online payment methods such as Perfect Money.
The minimum deposit amount is only $20, which is an advantage for those who wish to try HYCM without having to deposit large sums of money. In addition, HYCM does not charge any deposit fees, which means that traders can deposit any amount they wish without worrying about additional charges.
When it comes to withdrawals, HYCM processes withdrawal requests within 24 hours for some payment methods, which is a fast processing time compared to other brokers. Traders can withdraw funds using the same payment methods used to make deposits. There are no withdrawal fees at HYCM, which means that traders can withdraw their profits without having to worry about additional costs.
It is important to note that withdrawal processing times may vary depending on the payment method and the trader's banking institution. HYCM strives to process all withdrawal requests as quickly as possible, but there are factors beyond its control that may affect processing time. Overall, HYCM offers a wide variety of deposit and withdrawal options, as well as fast processing times and no additional fees, making it an excellent choice for traders looking for a reliable and convenient broker.
One of the additional advantages of HYCM is that it offers a wide range of educational tools to help traders improve their trading knowledge and skills. This includes live webinars, online seminars, trading guides, video tutorials and much more. HYCM is committed to helping its traders achieve their trading goals and maximize their earning potential.
HYCM offers 24/5 customer support in several languages, including English, Spanish, German, French and several other languages. Traders can contact the support team by phone, email and live chat. They also have a FAQ section on their website to help traders find answers to common questions.
E-mail: support@hycm.com
Overall, HYCM is a reliable and well-regulated forex broker that offers a wide range of trading instruments and trading platforms. With its focus on transparency and security of client funds, HYCM is an excellent choice for traders of all experience levels. In addition, its wide range of educational resources and exceptional customer service make HYCM an excellent choice for traders looking to improve their skills and knowledge in the Forex market.
Question: Does HYCM offer a demo account?
Answer: Yes, HYCM offers a free demo account for traders to test the platform and practice their trading strategies without risking their own money.
Question: What is the minimum deposit to open an account in HYCM?
Answer: The minimum deposit to open an account in HYCM is $100 USD.
Question: What trading platforms does HYCM offer?
Answer: HYCM offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Question: Does HYCM offer leverage?
Answer: Yes, HYCM offers leverage for traders. The maximum leverage offered depends on the trading instrument and country regulation.
Question: Does HYCM charge transaction fees?
Answer: On classic and fixed accounts, HYCM charges a spread fee for its trades, which means that it does not charge commissions per trade. But on the raw account there is a commission.
Question: Does HYCM offer educational resources for traders?
Answer: Yes, HYCM offers a wide range of educational resources for traders, including trading courses, live webinars, educational articles and trading strategies on its website.
Question: Is HYCM regulated?
Answer: Yes, HYCM is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA).
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fxtm and hycm are, we first considered common fees for standard accounts. On fxtm, the average spread for the EUR/USD currency pair is From 1.5 pips, while on hycm the spread is From 1.2.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fxtm is regulated by CYSEC,FCA,FSC,FSCA. hycm is regulated by FCA,CYSEC,CIMA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fxtm provides trading platform including ADVANTAGE PLUS,ADVANTAGE and trading variety including FX Metals Commodities Indices FX indices Stock baskets Stock CFDs (only MT5) Stocks (only MT5). hycm provides trading platform including CLASSIC,FIXED,RAW and trading variety including --.