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Is HYCM free?

Disclaimer: 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

HYCM does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with HYCM though, then you will find the fees they charge below.

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59% of retail CFD accounts lose money

HYCM fees
Overview of HYCM fees and charges

It's safe to say that HYCM's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of HYCM's fees

HYCM Fees snapshot
Assets Fee level Fee terms
US stock fee - Not available
EURUSD fee Low Classic account: the fees are built into the spread, 1.4 pips is the average spread cost during peak trading hours.
US mutual fund fees - Not available
Inactivity fee Average $10 each month after 90 days of inactivity

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59% of retail CFD accounts lose money

HYCM fees
HYCM fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare HYCM fees with its closest competitors, ATFX and OvalX.

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59% of retail CFD accounts lose money

HYCM fees
HYCM trading fees

HYCM's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at HYCM.

Trading fees

HYCM's trading fees are low.

Forex fees

HYCM's forex fees are low.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
HYCM ATFX OvalX
EURUSD benchmark fee $7.1 $7.3 $13.9
EURGBP benchmark fee $11.5 $7.5 $12.0

CFD fees

HYCM has low CFD trading fees.

CFD fees and commissions on a $2,000 trade
HYCM ATFX OvalX
Apple CFD $1.4 $3.0 $1.5
Vodafone CFD - - $0.4
Germany - - $11.9

Currency conversion fee

HYCM will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

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59% of retail CFD accounts lose money

HYCM fees
HYCM non-trading fees

Some of HYCM's non-trading fees are average.

Non-trading fees include various brokerage fees and charges at HYCM that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how HYCM stacks up in terms of non-trading fees
HYCM ATFX OvalX
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee Yes No No
Account fee No No No

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59% of retail CFD accounts lose money

HYCM fees
HYCM deposit fee

Usually, brokers don't charge anything for deposits, and HYCM is no different.

HYCM deposit methods
HYCM ATFX OvalX
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Deposit fee $0 $0 $0

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59% of retail CFD accounts lose money

HYCM fees
HYCM withdrawal fee

HYCM generally doesn't charge a withdrawal fee.

HYCM withdrawal fees and options compared
HYCM ATFX OvalX
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee for bank transfer $0 $0 $0

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59% of retail CFD accounts lose money

HYCM fees
HYCM inactivity fee

HYCM does apply an inactivity fee and it is $10 each month after 90 days of inactivity. Keep this in mind to avoid getting charged after a longer idle period. The fact that HYCM charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.

The inactivity fee charged by HYCM is average.

HYCM ATFX OvalX
Inactivity fee Yes No No
Inactivity fee $10 each month after 90 days of inactivity No inactivity fee No inactivity fee

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59% of retail CFD accounts lose money

Author of this article

András Iván

Author of this article

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

András Iván

Broker Analyst

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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59% of retail CFD accounts lose money

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