HYCM Account Types

HYCM, also known as Henyep Capital Markets, offers three main account types to cater to different trading styles and preferences: Fixed, Classic, and Raw accounts. Each account type has distinct features:

• Fixed Account
• Spreads: Fixed spreads starting from 1.5 pips.
• Commissions: $0.
• Minimum Deposit: $100.
• Expert Advisors (EAs): Not available.
• Minimum Trade Volume: 0.01 lots.
• Classic Account
• Spreads: Variable spreads starting from 1.2 pips.
• Commissions: $0.
• Minimum Deposit: $100.
• Expert Advisors (EAs): Available.
• Minimum Trade Volume: 0.01 lots.
• Raw Account
• Spreads: Raw spreads starting from 0.1 pips.
• Commissions: $8 per lot round turn.
• Minimum Deposit: $200.
• Expert Advisors (EAs): Available.
• Minimum Trade Volume: 0.01 lots.

All accounts can be opened in six base currencies: USD, EUR, GBP, RUB, AED, or CAD. They also provide negative balance protection and 24/5 professional customer support.

HYCM Broker Account Opening Process

Opening an account with HYCM is a straightforward process that can be completed online. Here are the steps involved:

• Visit the HYCM Website: Go to the official HYCM website and click on the "Open Account" button.

• Fill Out the Registration Form: Provide your personal details, including your name, email, phone number, date of birth, and address.

• Choose Account Type: Select your preferred trading platform (MetaTrader 4 or MetaTrader 5), account type (Fixed, Classic, or Raw), and base currency.

• Provide Additional Information: Answer questions regarding your financial status and trading experience.

• Verify Your Identity and Residency: Upload documents such as a national ID, passport, or driver's license for identity verification. Utility bills and bank statements can be used for residency verification.

• Complete a Trading Experience Survey: This standard procedure ensures that you have basic financial knowledge and are aware of trading risks.

• Fund Your Account: After successful verification, you will need to deposit funds into your account. The minimum deposit for each account type is $20.

• Start Trading: Once your account is funded, you can begin trading on your chosen platform.

The entire account opening process typically takes about 1 day for verification and setup.