MyFxBots In-Depth Review of HYCM

The broker publishes three live account types — Fixed, Classic and Raw — plus demo accounts and special accounts it describes as being for VIP and Corporate clients. The comparison figures below are taken from the account types page.

Account comparison

Islamic and swap-free accounts

The broker publishes an Islamic fees schedule as a downloadable document and maintains an education article on Islamic trading principles. A swap-free account is not presented as a fourth account type on the account comparison page, so traders who require Position Trading without overnight financing should confirm swap-free availability with support before funding.

Demo, VIP and corporate accounts

Demo accounts are available to registered clients. Beyond the three standard types, the broker states that it offers special accounts for VIP and Corporate clients who trade larger volumes, and lists an account manager, market analytics and improved spreads on Fixed accounts as the VIP advantages. The broker does not publish the qualification thresholds for those tiers.

Copy trading, managed and institutional accounts

No copy trading, social trading, managed account or institutional account is presented on the account types page or in the account help section at the time of research. A PAMM service on MT5 was announced in a 2022 press item, but no PAMM product page is currently linked from the site navigation.

Funding depends on the legal entity that holds the account and on the client's region. The broker publishes the following methods and states that third-party deposits are not accepted.

Processing times and withdrawal routing

The broker states that withdrawal requests are processed within one business day, and that funds can then take three to seven days to reach the client's bank or card issuer. Deposits return to the original funding source, while profits are paid by wire transfer only, to a bank account in the same name as the trading account.

Account currencies

Classic and Raw accounts accept EUR, USD, GBP, AED and JPY. The Fixed account is USD-only. Traders holding another currency should confirm conversion practice with the broker, as the site does not publish a conversion fee schedule on the payment pages.

The desk found a cost structure that is simple to state: two of the three account types are commission-free and priced through the spread, and the Raw account trades a tighter spread for an explicit per-round-turn commission.

Spreads

The broker describes those figures as indicative, refers traders to the client terminal for live values, and states that spreads widen during the midnight session, published as 8pm to 6am GMT, with fixed spreads widening further in that window.

Commission

Only the Raw account carries a published commission: $4 per round turn on foreign exchange, $5 per round on metals, and $0 on other instruments. Fixed and Classic accounts are published as commission-free.

Overnight financing and swaps

The broker publishes its swap formula as interest rate multiplied by contract value, divided by 360. A worked example on the help centre shows a one-lot EUR/USD short position producing a $3.98 credit per night at a 1.25% interest value. Actual rates vary by instrument and direction and are listed in the contract specifications.

Non-trading fees

• Bank wire withdrawal handling fee: $30 on amounts below US$300.
• Currency conversion: the site does not publish a conversion fee schedule on its payment pages.
• Inactivity fee: not published.

What the cost structure means per trading style

Spread widening inside the published 8pm to 6am GMT window falls on the overnight session, so it affects End-of-Day Trading and Position Trading more than intraday work. The Raw account's per-round-turn commission is least costly to traders running high trade counts, while the Fixed and Classic models suit traders who prefer to see the entire cost inside the spread.

Maximum leverage is published by asset class rather than by account type or regulator. The product pages list the following maxima.

These are headline maxima. The site does not publish a separate retail leverage cap for the FCA-regulated entity, and the broker's own help centre uses 1:10 to 1:200 as its illustrative range when explaining how leverage works. Traders should also note the broker's statement that clients can reduce their exposure by requesting a change in the leverage limit on the account.

Risk caution

Leverage magnifies losses as well as gains. At 1:500, a move of roughly 0.2% against an open position is enough to consume the margin behind it. The broker publishes negative balance protection, and for clients under the FCA entity a stop-out level of 50%, with positions beginning to close from the most unprofitable when the margin level falls below 55%. High leverage remains the fastest route to a margin call, and it does not suit traders who cannot monitor open positions actively.

The broker runs promotional offers rather than a permanent bonus scheme. Two promotions are published in its help centre at the time of research, and both carry conditions.

• Invite Friends: a $200 cash bonus per referral, paid when the referred client opens an account, deposits at least $500 and trades three lots within 60 days of the first deposit. The offer is published as available to clients under the Costa Rica entity only, is capped at ten referrals a year, and is credited monthly by the 15th of the following month. The broker states that FCA clients are not eligible.
• Birthday Bonus: a trading bonus published with a maximum headline value of $500 or currency equivalent.

These are headline descriptions only. Bonus and promotional offers carry conditions, including minimum deposits, trading volume requirements and eligibility limits, and the full terms sit in the broker's own documentation. The desk does not reproduce or paraphrase those terms here. Traders should read the current conditions before accepting any credit, and should note that a bonus does not reduce trading risk or guarantee an outcome.

The broker offers four ways to trade: MetaTrader 4, MetaTrader 5, browser-based web terminals for each, and its own HYCM Trader mobile application.

MetaTrader 4

Positioned as the industry standard, with advanced technical analysis, flexible trading systems and support for Expert Advisors. The broker publishes 9 timeframes, 23 analytical objects and 30 technical indicators for MT4, and quotes average execution under 12 ms.

MetaTrader 5

A multi-asset platform covering all five asset classes. The broker publishes 21 timeframes, six pending order types and an integrated economic calendar, and describes MT5 as suitable for automated trading applications. The broker states that MT5 is where its stocks and exchange-traded instruments are traded.

Web trader

MT4 and MT5 web terminals are available for browser access without installing software.

HYCM Trader mobile app

The app account is separate from existing MT4 and MT5 accounts, which remain accessible alongside it. Price Action Trading and Day Trading are both workable across these platforms, and the broker permits Expert Advisors, VPNs and VPS services, which also makes Algorithmic Trading possible on the Classic and Raw accounts, provided the tools are not used for abusive or manipulative practices.

The broker publishes a total of more than 300 trading instruments across five asset classes, with the following published counts and maximum leverage per class.

Share trading is commission-free under the broker's investing proposition, which also supports fractional shares from $10. The desk notes that the crypto and stock ranges are offered at materially lower leverage than foreign exchange, and that instrument availability differs between the broker's legal entities; the broker states that BTC/USD is available to clients of its Costa Rica entity only. Traders should also plan for Breakout Trading and Fibonacci Retracement levels across index and commodity CFDs, where the wider spread of the Fixed account is most visible.

The broker's regulatory position is disclosed on its licence page and can be checked independently on the FCA and DFSA public registers. The desk verified both entries on the retrieval date.

All eight fields per entity, with their sources, are held in the regulator offices table of the accompanying data extraction. Retrieved 2026-10-16. The FCA entry for reference 186171 is an authorised firm, and the DFSA register lists the Dubai entity as a DIFC company licensed on 19 September 2006 with retail endorsement. A group holding company based in Hong Kong also appears in the broker's own office list; it is not presented as a licensed entity.

Client fund handling

The broker states that client capital not allocated to margin is held in fully segregated accounts, separate from the company's operating funds, and that this structure is intended to protect client money if the company becomes insolvent. Payment processing is performed by regulated third parties, including Paysafe Merchant Services Limited for Neteller, Global Collect Services B.V. for Skrill, Ecommpay under FCA licence 607597, and Trust Payments Ltd under FCA licence 932557.

Negative balance protection and stop-out

The broker publishes negative balance protection under its client agreement, meaning a client cannot lose more than the account balance. For clients under the FCA entity the published stop-out level is 50%, with positions beginning to close from the most unprofitable when the margin level falls below 55%. The broker's own risk disclosure states that between 73% and 76% of retail investor accounts lose money when trading CFDs, which is the clearest published indication of what the majority of retail outcomes look like.

Compensation schemes

A compensation scheme is not published on the broker's licence or safety pages. Traders whose account sits with the UK entity should confirm eligibility directly, as the FCA's own scheme terms depend on the firm's permission and the client's category.

Dispute resolution

The broker publishes a complaints route through the account manager first, then by email to its complaints address, and a separate address for data protection complaints with published hours of 09:00 to 18:00 GMT+3.

Support is published as multilingual and available 24 hours a day, five days a week, with live chat and a direct telephone line.

The telephones and email addresses above were read from the page's decoded email protection and from the site's own published documents; the desk recommends confirming the current address on the contact page before writing. Support is described as multilingual, but the broker publishes no list of supported languages; Arabic, Russian and Chinese are among the website's own language versions.

The broker maintains a written education resource rather than a structured academy with scheduled courses. Content is published in two places: a self-service help centre and a public blog.

• Help centre: an education category covering foreign exchange, commodities, stocks and indices, plus a general trading questions section. The broker publishes article counts of 10 for foreign exchange, 7 each for commodities, stocks and indices, and 25 general trading questions.
• Blog: sections on foreign exchange fundamentals, trading tools and resources, advanced trading concepts, ethics and compliance, technology in trading, foreign exchange market history, economic indicators and a terminology glossary.
• Written formats: explainer articles, video tutorials and ebooks are referenced across the education pages.

The material is introductory to intermediate in level. Traders looking for structured assessment, mentoring or certification should treat the education offering as reference material rather than a training program.

The broker provides a research and analysis layer inside its client area and on the public site. The desk lists what is published.

Third-party analysis tools are the strongest part of this section, and both are tied to holding an active account. Traders who Scalp or run automated systems should note that the broker permits VPS hosting, which supports latency-sensitive execution. The same toolset supports Mean Reversion work through the published contract specifications, where swap values and spread minima are listed per instrument.

The broker states that it has received more than 25 group awards and publishes its awards in two places on the site: a group awards list on the about page, which names the awarding body for each entry, and a longer awards page organised by category, which does not. Between them the two pages list 63 award entries dated 2011 to 2023.

The awards span 2011 to 2023 and concentrate on three themes: best broker recognition by region, trading platform and mobile app recognition, and service quality. Provider attribution is consistent for the entries published on the about page, where the awarding bodies include World Finance, Global Banking & Finance Review, FX Report, Forex Awards, FXDailyInfo, Global Forex Awards, Global Brands Magazine, Global Brand Awards, InvestinGoal, International Business Times and MENA Forex Award. For the 2022 and 2023 entries, the broker publishes the award name and year but not the awarding body.

Traders should read an award as an indication of a vendor's positioning rather than as an independent quality measure, and should treat the underlying trading conditions as the primary evidence. The full award list, with provider and year for each entry and its translations, is delivered as a separate data output alongside this review and is not repeated here.