HYCM Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-09-30 19:03

Abstract：With HYCM, investors can trade CFDs, cryptocurrencies, precious metals, and forex. We offer 1:200 leverage and MT4 support. Trader safety is a problem due to the absence of FCA and ASIC monitoring.

HYCM	Basic Information
Registered Countries	China
Regulation	No regulation
Minimum Deposit	Not specified
Maximum Leverage	1:200
Minimum Spread	Not specified
Trading Platform	HY Trader MT4 (Desktop, Mobile, Web)
Trading Assets	Forex, Precious Metals, Crypto, CFDs, Indexes, Stocks
Payment Methods	Not specified
Customer Support	Phone, Email, Online Chat (24/5 support)
Bonus Available	Yes (up to $5,000 sign-up bonus)

HYCM Information

　　With HYCM, investors can trade CFDs, cryptocurrencies, precious metals, and forex. We offer 1:200 leverage and MT4 support. Trader safety is a problem due to the absence of FCA and ASIC monitoring.

Pros and Cons

Pros	Cons
Different trading assets	Not regulated
Leverage-rich options	Limited information on account types
Supports MT4 platform	Little details on payment options

Is HYCM Legit?

　　China is the nation where HYCM was registered; it is not governed there either. Moreover, it lacks official control right now from important institutions like the FCA and ASIC. This begs grave issues about its legality and safety for traders.

　　Registered on March 16, 2018, xingyewaihui.com will expire on March 16, 2026. Having registered with Hefei Juming Network Technology Co., LTD., it is currently active under the client Transfer Prohibited status, which forbids any illegal alterations or transfers.

What Can I Trade on HYCM?

　　With HYCM, you can trade in more than 20 different currency pairs, precious metals, equities, indexes, and even crude oil.

Tradable Instruments	Supported
Forex	✔
Commodities (Precious Metals)	✔
Crypto	✔
CFD	✔
Indexes	✔
Stocks	✔
ETFs	❌

Leverage

　　HYCM offers 1:200 leverage, letting traders handle greater positions with less capital. Higher leverage can boost earnings but also magnify losses, making it risky for traders.

Edurational Resources

　　Many instructional materials are available on HYCM, such as Forex lessons, starter manuals, webinars, market analyses, and live broadcasts.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
HY Trader MT4 Desktop	✔	PC	Traders requiring thorough analysis
HY Trader MT4 Mobile	✔	Smartphones, Tablets	On-the-go trading
HY Trader MT4 Web	✔	Any web browser	Casual traders can trade from any device

Customer Service

　　HYCM provides round-the-clock customer service from Monday through Friday.

　　Phone, email, and live chat are all ways to get in touch with support.

Contact Options	Details
Phone	18191026423
Email	info.cn@hycm.com (General)
Support Ticket System	Not provided
Online Chat	Available via website
Social Media	Not provided
Supported Language	Chinese
Website Language	Chinese
Physical Address	London, UK

Promotion

　　HYCM offers a sign-up bonus up to $5,000 for new customers.

The Bottom Line

　　Experienced traders familiar with high leverage and a large choice of assets will find HYCM most suitable. Its lack of main control and safety issues could make it inappropriate for beginners or risk-averse traders.