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HYCM.com (was HYMarkets.com) Review Visit site

Updated: May 8, 2017
1.982 · 28 REVIEWS
Is this your company?

2008-2013:  Multiple "client" reviews left from inside the offices of HY Markets.

2013-2014:  Large numbers of highly suspicious positive reviews submitted.

The FPA recommends caution dealing with this company.

Other websites of this company include HYOptions.com

HYCM is online forex brokers. HYCM offers the MT4, MetaTrade Mobile, and HY Webtrader top forex online trading platforms. HYCM.com offers over 30 of the most traded currency pairs, gold, silver, oil, stock indexes, and commodities for your personal investment and trading options.

HYCM.com (was HYMarkets.com)

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1.982 · 28 REVIEWS
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Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Belgium
May 4, 2017
Registed user

IGNORE AND AVOID THIS BROKER AT ALL COSTS!

A bunch of retarded amateurs with a very bad customer service!

Angelides, Cyprus
Apr 5, 2017
Guest

Solid broker. No issues till now

A broker with more than 20 years of FCA license says it all.
I didn´t have any issue till now.
The support sometimes take a bit of time to answer on livechat, but besides that I don´t have nothing to complaint.
Zero issues with execution, and fast withdrawals.

n/a, Bulgaria
Apr 9, 2016
Guest

Same problem as previous users ... lot of Off Quotes that deny you to trade! Sometimes executions takes 10 seconds, many off quote, requotes ... etc.

The have compensation rules but don't use them. They denied me to compensate me at all for all these errors.

Don't use this broker. They want your money and don't care about the quality services.

, Japan
Dec 18, 2015
Guest

HY Markets is big scam.

I get profit over 7000USD FOMC.
but, HY Markets is cancel all profit.
reason for "consistent with the manipulation of market information or data"

it is big scam!

, Germany
Dec 2, 2015
Guest

As long as you make no profits, execution is fine and takes about 200 to 300ms which is standard nowadays. But after your first profit trade, you are already flagged as "toxic" by this broker and execution times raises to 5 seconds and more for opening and closing a trade. Should you still keep on winning by then, they´ll raise it to 30 seconds and more. With this broker, like with most unhonest market makers, it is impossible to profit!

Proof:

First test-trade in the night, which ended up as a little loser (when account was fresh and no trade done yet - you see execution time is great at 200 to 400ms on the open and under 70ms on the close):

0 03:01:17.406 '824461': instant order sell 0.02 EURUSD at 1.06181 sl: 0.00000 tp: 0.00000
0 03:01:17.852 '824461': order was opened : #30073927 sell 0.02 EURUSD at 1.06181 sl: 0.00000 tp: 0.00000
0 03:01:21.961 '824461': one click trading has been enabled
0 03:01:23.075 '824461': close order #30073927 sell 0.02 EURUSD at 1.06181 sl: 0.00000 tp: 0.00000 at price 1.06199
0 03:01:23.162 '824461': order #30073927 sell 0.02 EURUSD at 1.06181 sl: 0.00000 tp: 0.00000 closed at price 1.06199

Then I made my first profit trade in the morning during GBP news (execution still looking great here, again 200 to 300ms):

0 10:30:00.176 '824461': instant order sell 0.08 GBPUSD at 1.50627 sl: 0.00000 tp: 0.00000
0 10:30:00.394 '824461': order was opened : #30077254 sell 0.08 GBPUSD at 1.50627 sl: 0.00000 tp: 0.00000
0 10:30:05.679 '824461': close order #30077254 sell 0.08 GBPUSD at 1.50627 sl: 0.00000 tp: 0.00000 at price 1.50376
0 10:30:05.811 '824461': order #30077254 sell 0.08 GBPUSD at 1.50627 sl: 0.00000 tp: 0.00000 closed at price 1.50376


After doing this first profitable trade, execution looks like this afterwards (you see, the next trade was not even accepted anymore and got "OffQuotes" with a delay of actually 3 seconds each time!):

0 13:33:51.778 '824461': instant order sell 0.02 GBPUSD at 1.50279 sl: 0.00000 tp: 0.00000
1 13:33:54.295 '824461': order sell 0.02 GBPUSD opening at 1.50279 sl: 0.00000 tp: 0.00000 failed [Off quotes]
0 13:34:10.557 '824461': instant order sell 0.02 GBPUSD at 1.50274 sl: 0.00000 tp: 0.00000
1 13:34:14.780 '824461': order sell 0.02 GBPUSD opening at 1.50274 sl: 0.00000 tp: 0.00000 failed [Off quotes]

Next attempt to trade (the trade got through this time but see the 3 to 4 seconds execution time now, including an extra off quote when trying to close it, so that it won´t end in profit):

0 13:34:34.120 '824461': instant order sell 0.02 EURUSD at 1.05927 sl: 0.00000 tp: 0.00000
0 13:34:37.208 '824461': order was opened : #30078690 sell 0.02 EURUSD at 1.05927 sl: 0.00000 tp: 0.00000
0 13:34:38.789 '824461': close order #30078690 sell 0.02 EURUSD at 1.05927 sl: 0.00000 tp: 0.00000 at price 1.05944
1 13:34:41.023 '824461': order #30078690 sell 0.02 EURUSD closing at 1.05944 failed [Off quotes]
0 13:34:42.901 '824461': close order #30078690 sell 0.02 EURUSD at 1.05927 sl: 0.00000 tp: 0.00000 at price 1.05948
0 13:34:45.918 '824461': order #30078690 sell 0.02 EURUSD at 1.05927 sl: 0.00000 tp: 0.00000 closed at price 1.05948

And it did stay like that until today (still 3 to 4 seconds execution times):

0 06:34:01.738 '824461': instant order sell 0.02 EURUSD at 1.05938 sl: 0.00000 tp: 0.00000
0 06:34:05.391 '824461': order was opened : #30086022 sell 0.02 EURUSD at 1.05938 sl: 0.00000 tp: 0.00000
0 06:34:08.919 '824461': close order #30086022 sell 0.02 EURUSD at 1.05938 sl: 0.00000 tp: 0.00000 at price 1.05958
0 06:34:14.548 '824461': order #30086022 sell 0.02 EURUSD at 1.05938 sl: 0.00000 tp: 0.00000 closed at price 1.05958


This is clearly fraud as they are using a plugin to delay your trades as soon as you are profitable and also, should you actually get into a trade without getting "Off Quotes", they delay your trade exit as long until it is unprofitable.

I´ve reported them to FCA for this as well, as this is clearly against the MiFiD "best execution standard" which they are bound to per EU laws.

STAY AWAY FROM THESE SCAMMERS!

Gauteng, South Africa
Dec 22, 2014
Guest

Well if anyone need to know whom you dealing with. please visite: http://www.fca.org.uk/news/warnings/hy-markets-clone

Review Moderation Team Note: According to the FCA, the real, regulated HYMarkets operates from these websites...

www.hymarkets.com
www.henyepmarkets.com
www.hyinvestment.com

Beware of anyone claiming to be from HY Markets that operates from any other websites.

Ljubljana, Slovenia
Oct 28, 2014
Guest

I put withdrawal request of 734 USD on 1.aug.2014 and they had serious problems transfer money on my bank account. After chating with mr. Eugene they just transfered money back on my trading account. BUT they charged me I dont know what kind of fee, so I got back less then I put in withdrawal request. Of course mr. Eugene said, my bank refused the transaction not theirs, but on my bank my manager (my good friend) said the money never came on my bank! And he also said the fee they charged me is unacceptable from their point of view. They returned me that fee on trading account after couple of days with note "goodwill"!!!

I started trading again and I made good profit and sudely my MT4 platform started to freeze with note no connection. Then I put 2nd withdrawal request on bank from which I made deposit. And again the same story. No money, they charged me fee and after couple of days they transfered me money back on my trading account!

I sent few emails and then they told me they will transfer me money on Skrill so finally I get my money!

Im in contact to their employee but still nothing.

Be carefull with them!!!

So if Hy trader people wrote on this blog to contact them; I did and they respond but it cost me money!!!

AGAIN BE CAREFULL WITH THEM, THERE ARE OTHER BROKERS ;)

2014-08-21 2Star After couple of days of chating with mr. Eugene I got my money back on my trading account. BUT they charged me I dont know what kind of fee, so I got back less then I put in withdrawal request. Of course mr. Eugene said, my bank refused the transaction not theirs, but on my bank my manager (my good friend) said the money never came on my bank! And he also said the fee they charged me is unacceptable from their point of view.

Well now my money is on my trading account instead on my bank account.

So if Hy trader people wrote on the blog to contact them; I did and they respond but it cost me money!!!

AGAIN BE CAREFULL WITH THEM, THERE ARE OTHER BROKERS ;)

2014-08-18 1Star I put withdrawal request of 734 USD on 1.aug.2014 and untill today I didnt recieved any money on my bank account.
Im in contact to their employee but still nothing.

Be carefull with them!!!

2014-07-29 2StarThey dont opvery bad execution durring the news. Im testing withdrawal now...

Quebec, Canada
Jun 18, 2014
Guest

no experience really, but i tried to contact customer service 3 times (twice by chat and once by email) because i couldn't deposit money with my credit card and no one got back to me. customer service sucks and thank god the deposit didn't work !!! i am going with another broker.

budapest, Hungary
May 27, 2014
Guest

My first exp with HY was more negative, i lost my first depo. My trading strategy was scalping on news, and i suffered some Mt4 delays. When i moved to another broker, problems resumed, so is broker really responsive for these technical issues or every1 has it? Now i changed my attempt to trading in direction of long-term trades and moved back to HY markets, dont have anything to whine about now, but i still dont earn on trading stably(

Tartu, Estonia
Apr 12, 2014
Guest

My personal trading experience with them was decent but not the best. i used to trade with them for about 7 months but not anymore as there are better companies to trade with. In most cases I could get in touch with customer support if needed to and the platform is ok but has its faults.

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