A market maker broker, HYCM is a subsidiary of the Henyep Group, which has been involved in asset trading for over 40 years, giving potential clients an additional level of confidence in using this broker. Its various companies are regulated by the FCA in the United Kingdom, CySEC in Europe, and the DFSA in Dubai.  HYCM offers trading on more than 300 instruments, including Forex, commodities, stocks, ETFs, indices, and over 21 cryptocurrencies, a broader range than is typically seen at other brokers.  HYCM offers three live accounts which are suitable for beginners and more experienced traders.  The commission-free Fixed and Classic accounts have a low minimum deposit requirement of only 100 USD, but spreads that start at 1.8 pips and 1.2 pips (EUR/USD) respectively, which is wider than other brokers.  However, most traders will be interested in HYCM’s low cost Raw Account, with spreads starting at 0.2 pips on the EUR/USD in exchange for a commission of only 4 USD (round turn) and a reasonable deposit requirement of 200 USD.    Support is offered for both MT4 and MT5 alongside a comprehensive market education suite that is beneficial for traders of all experience levels. However, HYCM’s analysis materials are limited, forcing traders to seek market news elsewhere.

Admirals is a well-regulated global online broker offering multi-asset trading on a broader range of instruments than other brokers.  Tradable instruments include Forex, commodities, indices, shares, ETFs, and bonds.  The company also has one of the best cryptocurrency offerings on the market, although these are unavailable under the FCA and JSC regulators.  With full support for the MT4 and MT5 platforms, Admirals is home to the MetaTrader Supreme Edition, a plugin that offers technical analysis on virtually every financial instrument.  It also offers a VPS service to clients that deposit more than 5000 EUR, which is substantially higher than the minimum deposit requirement, but offers Trading Central for free.    Admirals boasts excellent trading conditions on four live accounts. The minimum deposit requirements are only 25 USD on all accounts, spreads average at 0.8 pips (EUR/USD) on its commission-free accounts, and commissions of 6 USD (round turn) are charged on its Zero Accounts.   One drawback for those considering trading with Admirals is the high deposit fees charged on accounts with different currencies to those on offer at the broker.

So you want to get started in Forex trading but feel a bit daunted by the process - maybe you’re not sure where to start? Or you’re not sure how to pick the right broker? Maybe you’re worried that Zambian brokers are untrustworthy? Well, we have made this quick step by step guide to getting you started.