HYCM Dubai - HYCM Forex Broker Review in Dubai, UAE

As a well-established and trusted company with more than 40 years of experience in the financial markets, HYCM offers a comprehensive range of products and services to give its clients a first-class trading experience.

HYCM stands for Henyep Capital Market and is a part of the Henyep Group. The company operates in the Asian, European, and North American financial markets. Moreover, HYCM joined the Hong Kong Gold and Silver Trading Society in 1977 and created its own divisions including Henyep Bonds and Henyep Commodities.

HYCM Dubai UAE is licensed by numerous regulatory bodies, such as the FCA of the UK, CySEC of Cyprus, CIMA of Cayman Island, and DSFA of Dubai. HYCM also complies with MiFID rules and regulations. HYCM has more than 40 years of experience in the financial field during which it has managed to receive many notable awards for its services. Having international offices, HYCM has been serving clients from more than 140 countries with a wide range of services in forex, stocks, indices, commodities, and cryptocurrencies.

HYCM Dubai offers forex accounts that allow all trading strategies in addition to negative balance protection. Spreads at HYCM are fixed and floating with no commission, starting from 0.2 pips with a $20 minimum deposit and high leverage of 1:500 available on the MetaTrader 4 and MetaTrader 5 trading platforms.

HYCM's traders can enjoy 24/5 customer support for their trading needs and also find answers to their questions via HYCM's comprehensive FAQ page and live chat on platforms, such as Viber, Skype, WhatsApp, Telegram, and Facebook Messenger. Furthermore, new HYCM traders can access educational materials, such as articles, video tutorials on various topics, webinars, online classes, and other live events.

HYCM Dubai Trading Accounts

HYCM Dubai offers different types of trading accounts to beginners as well as professional traders. All trading activities are executed instantly at an average speed of 12 milliseconds and the tradeable major currencies are EUR, USD, GBP, RUB, and AED.

The HYCM Fixed account is suitable for traders who want fixed spreads so they can focus on other aspects of their trading. By funding your account with the required minimum deposit, you will have access to fixed spreads starting from 1.8 pips, high leverage of 1:500, and a minimum trade volume of 0.01 lots. This type of account does not require any commission.

Professional traders can open an HYCM Classic account with a minimum deposit of $100. They can trade using floating spreads as low as 1.2 pips, high leverage of 1:500, and a minimum trading volume of 0.01 lot with negative balance protection.

The last type of account is the HYCM Raw, which offers raw spreads as low as 0.2 pips and can be easily opened with a minimum deposit of $200. For this type of account, traders are required to pay a $4 commission per round of trading with high leverage of 1:500, plus their accounts will be protected from negative balance.

Fixed

Minimum Deposit: $100
Leverage: 1:500
Minimum trade size: 0.01 lots
Spread Type: Fixed, from 1.5 pips
Commission: No
Account Currency: USD, EUR, AED, GBP, RUB

👉 Open Fixed

Classic

Minimum Deposit: $100
Leverage: 1:500
Minimum trade size: 0.01 lots
Spread Type: Floating, from 1.2 pips
Commission: No
Account Currency: USD, EUR, AED, GBP, RUB

👉 Open Classic

Raw

Minimum Deposit: $200
Leverage: 1:500
Minimum trade size: 0.01 lots
Spread Type: Raw, from 0.2 pips
Commission: Yes, 4 USD per round traded
Account Currency: USD, EUR, AED, GBP, RUB

👉 Open Raw

HYCM traders can also open a joint account (two traders) to collaborate and take charge of the account alternately. A joint account is activated when the original account holder initiates and authorizes the operation.

Inexperienced traders can start with a Forex Demo Account with 50,000 virtual money in EUR and USD to build up their trading knowledge as well as confidence. The demo account will remain active for 14 days on the MetaTrader 4 trading platform.

HYCM Dubai Deposit & Withdrawal Methods

HYCM Dubai offers instant deposits and withdrawals via many methods without additional fees.

Instant deposits and withdrawals are available with a minimum of 20 USD or equivalent amount and up to 1 hour of execution using the following payment methods:

• Credit Cards (Visa / MasterCard)

• E-Wallets (Skrill, Neteller, PerfectMoney, Bitcoin)

Keep in mind that there is a 1% additional fee on withdrawals over $5,000 via Skrill and Neteller.

Deposits and withdrawals can be made via wire transfer with a minimum of $250 for deposits and $300 for withdrawals during 1 to 5 business days. Even though HYCM does not charge its clients any fees, the banks may automatically deduct additional fees from the traders.

HYCM also accepts payment methods like China Union Pay and virtual cards. Traders have to prove that they are the actual owner of the card by providing the card number and expiry date.

HYCM Broker Safety of Funds

Forty years of experience has given HYCM a solid reputation for transparency and fair trading practices.

HYCM Dubai (UAE) is regulated by several leading supervisory entities as follows:

• FCA of the UK under Henyep Capital Markets (UK) Limited.
• CySEC of Cyprus under HYCM (Europe) Ltd.
• CIMA for Cayman under HYCM Ltd,
• DFSA of Dubai under Henyep Capital Markets (DIFC) Limited.

HYCM is obligated by these licenses to keep its client funds separate from its operational funds. In addition, the company is to provide proof of a solid accounting system, risk management, as well as periodic financial reports to show its solvency.

At HYCM, annual audits are conducted by the fifth largest global accounting network, i.e., Moore Stephens, BDO Ltd., and Moore Stephens Ltd.

HYCM Broker Spreads

Spreads at HYCM Dubai are offered in different amounts based on account types. A fixed spread starting from 1.8 pips is offered for the HYCM Fixed account and a floating spread starting from 1.2 pips for the traditional HYCM Classic account without any commission. In contrast, the HYCM Raw account offers raw spreads as low as 0.2 pips at a $4 commission per round traded.

Advantage of Trading with HYCM Broker

Reliable and famous company with more than 40 years of experience

Special features, including VIP accounts program

Registered by MiFID and a member of FCA, CySEC, CIMA, & DFSA

All trading strategies welcome

Instant deposits and withdrawals

Flexible leverage up to 1:500

Fixed and floating spreads as low as 0.2 pips

Simple trading accounts on MT4 and MT5

Five major account currencies with negative balance protection

Multilingual customer support, available 24/5

High-Risk Warning: Trading Forex (Foreign Exchange) and Contracts for Difference (Stocks, Stock Indices, Commodities, and Bonds) involve a high level of risk and may not be suitable for all investors as you may incur losses that exceed your deposit. We highly recommend that you carefully consider whether trading in the FX market is suitable for you. All the contents on this website are for your information only and do not constitute as investment advice. It is important that you fully understand the risks involved before you start trading.