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 and cons of HYCM

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.

HYCM General Information and Regulation

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.

Regulators

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.

What type of broker is 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.

Market instruments

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.

Spreads and commissions for trading with HYCM

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.

Trading accounts available at HYCM

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.

Operating platform offered by HYCM

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.

HYCM maximum leverage

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.

Deposit and Withdrawal: methods and fees

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.

Education at HYCM

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 Customer Service

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

Conclusion

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.

Frequently asked questions about HYCM

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).

What is GO Markets？

GO Markets is an Australia-based Forex and CFDs broker founded in 2006. The broker provides 1000+ tradable CFD instruments including forex, shares, commodities, indices, metals, and treasuries. GO Markets is regulated by the ASIC in Australia, the CySEC in Cyprus, the FSC in Mauritius, and the FSA (Seychelles).

GO Markets is one of the first Australian MetaTrader 4 brokers, later on, it added MetaTrader 5, WebTrader, cTrader and mobile apps to its suite of services. The broker is well known for its strict compliance and competitive spreads.

Broker Name	GO Markets
Registered in	Australia. Cyprus. Mauritius. Seychelles
Regulation status	ASIC, CYSEC, FSA
Year(s) of incorporation	15-20 years
Market instruments	Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs.
Minimum initial deposit	USD $0
Demo accounts	Available
Social trading	Yes
Maximum leverage	1:500
Minimum spread	From 0.0 pips
Tading platform	MT4, MT5, WebTrader,Mobile Trading
Customer Service	Email, Phone, Live chat, 24/5
Fraud complaints	NO

Pros and cons of GO Markets

GO Markets has multiple regulations from recognized organizations in the industry, which gives greater credibility and security to its clients.

It offers a wide variety of financial instruments, including more than 1000 instruments, including Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs. It has a market-leading trading platform, MetaTrader 4 and MetaTrader 5, which has numerous technical analysis tools and customizable charts.

It offers excellent customer service, available in multiple languages and through multiple communication channels.

Deposits and withdrawals are processed quickly, with a one business day lead time for withdrawals.

It has an educational section on its website that offers materials for beginners and advanced traders.

As for the cons, we found that the main point is that the conditions are different in each entity. Another point is that the brokers support is not available 24/7.

General Information and Regulation of GO Markets

GO MARKETS is an online forex brokerage company that offers clients access to a wide variety of financial instruments, including Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs. The company is regulated by multiple regulatory bodies including ASIC, CYSEC, FSC and FSA.

• GO Markets Pty Ltd - authorized by ASIC (Australia) registration AFSL: 254963 ABN: 85 081 864 039

• GO Markets Ltd - authorized by CySEC (Cyprus) registration no. 322/17

• GO Markets International Ltd - authorized by the FSA (Seychelles) license no. SD043

  

Market Instruments

With Go Markets, clients can easily trade with over 1,000 products, covering Fore, Shares CFDs, Indices, Metals, Commodities, and Treasury.

GO Markets Leverage

GO Markets Leverage depends on the entity you have an account with since leverage falls under certain regulations. International Traders can access high-leverage ratios. For forex trading, GO Markets Pty Ltd, Mauritius (FSC regulated) offers generous leverage up to 1:500.

GO Markets Account Types

The broker offers two account types Standard and GO Plus Accounts with the flexibility to manage the trading way and choose the best fit. So there is an option between a Standard trading proposal based on spread charges and access to a true ECN environment via GO Plus+ specifically designed through light-fast technology. The Standard account caters to traders seeking accessibility, requiring a minimum deposit of $200 and offering leverage up to 500:1 across forex, metals, commodities, and indices markets. Conversely, the Pro account is geared towards more experienced traders, demanding a higher minimum deposit of $300 while providing the same leverage and instrument range as the Standard account. Notably, the account can be only opened USD.

Notably, The GO Plus+ account supports 9 different base currencies including AUD, GBP, EUR, NZD, USD, SGD, CHF, CAD, HKD.

GO Markets Fees and Spreads

Apart from offering one of the best spreads for the products suite, GO Markets is also the most competitive in terms of holding costs or overnight swaps. GO Markets offers Swap-Free Accounts to traders available on the Standard and GO Plus+ accounts on Meta trader platforms. GO Markets Swap-Free account is available to legitimate holders who are Muslim and cannot use “swaps” due to their religious belief.

Further, the GO Plus Account is already a choice for advanced traders or those whose strategy requires it as spreads from 0.0 pips and trading costs inbuilt in the commission as low as 2.50$ per side.

GO Markets spreads are aggregated from 22+ Tier 1 and 2 liquidity providers making them go as low as 0.0 pips. The GO Markets average spreads for Standard and GO Plus+ accounts are listed on their page. However, the data is provided for general information only and is taken over a one-month period. Prices shown may vary. For instance, see below a comparison of the Standard spread offering, as well as your comparing fees to another popular broker.

Besides, always consider overnight fee as a cost, also known as Rollover rate or interest for holding positions open overnight.

GO Markets Trading Platforms

In terms of trading platform suppored, GO Markets offers a robust suite, which makes it stands tall among most brokers. MetaTrader 4 and 5 platforms provide advanced charting tools, expert advisors, and VPS options. The user-friendly cTrader platform enables advanced customization and order capabilities. Copy trading solutions like MetaTrader Copy Trader and cTrader Copy Trading allow following successful traders' strategies. Mobile trading apps for Android and iOS ensure access on-the-go. The GO WebTrader offers a web-based MT4 and MT5 experience without downloads.

Platforms	GO Markets
MetaTrader 4	Yes
MetaTrader 5	Yes
Mobile Trading Platforms	Yes
WebTrader	Yes
cTrader	No
cTrader Copy Trading	No

Trading Tools

Additionally, GO Markets offers the following trading tools to enhance trading experience:

1. VPS (Virtual Private Server): A VPS provides continuous access and optimal speed for MT4 and MT5 platforms, ensuring vital speed and uninterrupted trading.

2. Autochartist: Autochartist specializes in real-time price action alerts, volatility analysis, and event impact assessments, allowing traders to easily apply charts and stay informed about market movements.

3. Trading Central: Trading Central offers a collection of programs that provide actionable investment support with 24-hour multi-asset coverage and analysis, empowering traders with comprehensive market insights.

4. MetaTrader Genesis: MetaTrader Genesis is a comprehensive suite of Expert Advisors (EAs) designed to enhance the capabilities of the standard MetaTrader platform, enabling advanced trading automation and strategy implementation.

GO Markets Deposits and Withdrawals

GO Markets offers fee-free deposits through various payment methods, including Mastercard, Visa, Skrill, Neteller, and bank/wire transfers. These options support multiple currencies like AUD, USD, GBP, EUR, and others, serving traders across different regions.

Generally, GO Markets enables fee-free internal withdrawals. However, withdrawals to non-Mauritian banking institutions may incur fees from intermediary banks and the recipient's bank. Withdrawal requests received before 7 AM MUT are processed the same day, while later requests are handled the next business day. All withdrawals are processed back to the original funding source for security. While GO Markets ensures a seamless withdrawal process, external fees from third-party banks may apply in certain cases.

GO Markets Customer Support

GO Markets Customer Service was rated #1, in addition to its great Awards received in other aspects. Successful brokers recognized the need for quality service, but of course, not everyone can have one.

with 14+ language coverage, GO Markets stands ahead in that point too, so you can count on relevant and fast answers from the Customer Support GO Markets. The brokers team is available around the clock and supports international languages accessible via Live Chat, email, and phone lines in Australia, the UK and internationally as well. And although the broker does not provide 24/7 client support, it has highly acclaimed 24/5 client support.

GO Markets Education

And of course, since novice traders always pass through great challenges while exploring trading opportunities, GO Markets provide the educational materials and research resources necessary to perform seamless trading. Eventually, GO Markets educational programs and its GO Markets Academy are numerously award-winning materials that are defined by all levels of traders and available for Free use.

So in GO Markets Academy and Education Centre, you will find Forex trading learning courses, Video Tutorials, also Tutorials and regularly held Seminars and Webinars in various languages. Also, Demo Account is offered for free use with no limits where beginners can place their strategy at the test or see GO Markets environment.

As for the Research tools, besides very comprehensive research inbuilt into Metatrader 4 platform, GO Markets also cooperates with Autochartist and Trading Central providers so you can use its free trading signals and ideas for your benefit. Besides, thousands of MetaTrader 4 & 5 Add-ons remain at your suite which is defined by the instrument and specified criteria, where also you may use the great tool MT4 Genesis.

FAQs

GO Markets knows that knowing where to find the information that you need and having the confidence that you can find the answers to your trading questions could be very helpful with your day-to-day trading.

Use these comprehensive Forex Trading FAQs to learn all the basics as well as the more advanced topics in forex trading. GO Markets has covered the lot from how to open a forex trading account to how to use the MetaTrader trading platform, Forex trading system, and more. Whether you're new to trading FX or you have several years of experience trading currencies, you will find a lot of useful information in these FAQs.

Q: What is the minimum deposit required to open an account with Go Markets？

A: The minimum deposit required varies depending on the account type you choose. The Standard account requires a minimum deposit of $200, while the Pro account requires a minimum deposit of $300.

Q: Does Go Markets offer Islamic (Swap-Free) accounts？

A: Yes, Go Markets offers Islamic accounts, also known as Swap-Free accounts, which comply with Islamic financial principles by avoiding interest charges or swap fees.

Q: What is Go Markets' leverage policy？

A: Go Markets offers leverage up to 500:1 for both Standard and Pro accounts.

Risk Warning

Trading online carries inherent risks, including the potential loss of invested capital. It may not be suitable for all traders or investors. It's essential to understand and acknowledge these risks before engaging in online trading. Additionally, please note that the information provided in this review is subject to change as the company updates its services and policies. The date of this review's generation is also crucial, as information may have evolved since then. Therefore, readers are encouraged to verify updated information directly with the company before making any decisions or taking action. The reader assumes full responsibility for the use of the information provided in this review.