HYCM Review

3.285 · 108 REVIEWS

Formerly HYMarkets.com

Updated: Jan 18, 2021 · HYCM.com  · Is this your company?

HYCM is a forex broker. HYCM offers the MT4 and Mobile trading currency platforms. HYCM.com offers over 30 currency pairs, cryptocurrencies, indices, stocks, commodities and cfds for your personal investment and trading options.

HYCM

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

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 1977
Address: 18 King William Street London, EC4N 7BP, United Kingdom
Contact: support@hycm.com, +357-25-24-5751
Regional offices:
Regulators: CIMA #1442313, CySEC #259/14, SVGFSA #25228 (IBC 2018), DFSA #000048, FCA #186171
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
Currencies: (65+)
Cryptocurrencies: (10+)
CFD: (300+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Other Commodities
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill

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3.285 · 108 REVIEWS
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Traders Reviews

Gerald Okumuringa,
Port-au-Prince, Haiti,
Jan 15, 2021,
Guest

I like to work with this broker

Service use: Live

Length of use: 0-3 Months

I always put much value to the process of choosing a new broker. I realize that one can’t approach this with a light-minded head. It’s because if you are careless, you may lose your capital even without any market fluctuations. Malicious brokers are a sad reality, to our great regret.
So, when I first noticed the name HYCM online, I carefully researched this broker. I studied many user reviews as well as analytical materials. They gave me mostly a positive impression. So, with this optimistic mood, I opened a Fixed account, deposited $200 and started trading. The trading process was really good. For a month I didn’t notice anything unpleasant in the trading process. I also made several withdrawals and received the requested money.
 
Thum Wesigye,
Antananarivo, Madagascar,
Jan 15, 2021,
Guest

Some advantages as well

Service use: Live

Length of use: 3-6 Months

Actually, I see some disadvantages in this brokerage, so I would tell about them. First of all, there's no copy-trading, you can't just copy other traders, but you can use MT5 EAs to copy signals. I don't use it, as that's too difficult, imo.
Secondly, brokerage doesn't offer a lot of analytics, for me that's a slight problem.
In all other regards it's one of the best places to trade, I like that spreads are low, this overshadows its disadvantages.
 
Saumya Parajuli,
Ipoh, Malaysia,
Dec 12, 2020,
Guest

trusted regulations and good trading conditions

Service use: Live

Length of use: 6-12 Months

I would start from the main point - this brokerage is regulated by highly authorities (CySEC and FCA) and offers good trading conditions, so I can recommend this brokerage. I started with fixed account, but it turned to be not so profitable, as the ECN acc with variable spreads, so I switched onto it.
Also, I'm trading with MT5, as the range of markets for that platform is wider and I'm deversifiying my portfolio now, coronacrisis is the right time to go this way. Sad, that there's no crypto traded as an actual, but you can trade them as CFDs, for you, as investor, that doesn't change a lot.
To conclude, my opinion about this brokerage is highly positive, I never faced any issues =)
 
Gazvan al Dzad,
Riyadh, Saudi Arabia,
Nov 30, 2020,
Guest

One of the top brokers

Service use: Live

Length of use: over 1 Year

This brokerage is among top brokers, at least I rate it very high (and some rankings as well).
As I know, the company exists since 1970s, I can't name any other brokerage with such a long lifetime and, of course, that's not a competitive advantage, but sth like quality sign, that make you trust this brokerage.
If we speak about smth more reality related, than I like there is wide range of assets, including cryptocurrencies. Max. leverage for them is only 1:20, that's not very high, but in other regards that's exactly what I'm looking for.
Before writing my review I've read a lot of them on FPA and frankly I don't know why people praise regulations so high. C'mon, the UK regulation isn't sth banging, especially if we're speaking about brokerage that's positioning itself like one of the best in industry. So don't be like that, FCA regulation is nice, but I don't think that it matters so much.
As for me, brokerage is exactly how I thought it should be - stable, with professional approach towards each trader and wide list of assets. Can I recommend it to other traders? I hope yes, at least I have no reasons not to do that.
 
Timmy Katusiime,
Lagos, Nigeria,
Nov 25, 2020,
Guest

Confidence in trading

Service use: Live

Length of use: 6-12 Months

Yes, it is really important.
Because it's already difficult to work here because of the specifics of the market.
And here I can analyze, trade and freely withdraw money - of course I'm glad to be here.
 
Surref,
Cairo, Egypt,
Nov 23, 2020,
Guest

I prefer veteran brokers

Service use: Live

Length of use: 6-12 Months

I’m a very cautious trader and try to stay away from relatively new brokerage services. If a brokerage service operates on the market since 2010, I don’t find it trustworthy enough. Perhaps, you may find it a sort of phobia, but I prefer being overcautious to being light-minded.
To my mind, the most reliable brokers were founded in the 1990s. HYCM was started even much earlier. I guess if it somehow managed to survive in the highly competitive industry for more than thirty years, it really deserves trust.
 
Potodeevo, Russian Federation,
Nov 15, 2020,
Registered user

do not withdraw profit

Service use: Live

Length of use: 3-6 Months

Hello! My name is Nikolay Kuryshev and I had accounts at HYCM under the numbers: 620001551, 620001552, 620001553, 220003197, 620001554, 620001555, 620001556, 220003211, 620001563, 620001564.
On October 28, 2020, I opened several deals with the shares of the "Pinterest" company in the aforementioned HYCM company. On October 29, 2020, I closed my positions at a profit of approximately $ 43,000. Then I made two withdrawal requests for 9,200 euros and 1,265,000 rubles. On October 30, 2020, at approximately 11:00 Moscow time, my withdrawal requests were canceled and my profits were canceled. Then this company sent a letter in which it accused me of violating some rules and said that they were breaking contractual relations with me. also in this letter it was reported that my profits are canceled and only the amount that I deposited into the account of this company earlier will be returned to me. In turn, I want to declare that I did not violate any rules and the HYCM company canceled my profit unlawfully. I have screenshots and videos to prove that I am honest. In particular, the video captured the moment of making a profit and closing positions. In turn, HYCM did not provide me with any evidence of my violation of the rules. Based on the foregoing, I ask for your assistance in resolving this dispute and assistance in paying me the entire amount of profit received from HYCM.

Nov 10, 2020 - 1 Star Hello! On October 28, 2020, I opened several deals with the shares of the "Pinterest" company in the aforementioned HYCM company. On October 29, 2020, I closed my positions with a profit of approximately $ 43,000. Then I made two withdrawal requests for 9,200 euros and 1,265,000 rubles. On October 30, 2020, at about 11:00 Moscow time, my withdrawal requests were canceled, and my profits were canceled. Then this company sent a letter in which it accused me of violating some rules and said that they were breaking contractual relations with me. also in this letter it was reported that my profit will be canceled and only the amount that I had deposited into the account of this company earlier will be returned to me. In turn, I want to declare that I did not violate any rules and the HYCM company canceled my profit unlawfully. I have screenshots and videos to prove that I am honest. in particular, the video captured the moment of making a profit and closing positions. Based on the foregoing, I ask for your assistance in resolving this dispute and assistance in paying me the entire amount of profit received from HYCM.

More. Community discussion of this issue >>

 
Opacidete,
Tangerang, Indonesia,
Nov 14, 2020,
Guest

Pleasant surprises...

Service use: Live

Length of use: 0-3 Months

When I chose this company, I did not pay attention to many things at all. I looked through the trading platforms and regulation, made sure that it really exists already a lot of cases. And I stopped there.
And then, as I was working, I noticed that there are some interesting things that can be used in the work. And of course I immediately noticed the calculators, because I had never encountered anything like them before, and of course I immediately wanted to try how it would help me with my calculations. I wish I could say my profits grew immediately, yet they do save time, which is also a valuable thing.
So, I'm glad that I made exactly such a step.
I can really recommend the broker to my colleagues.
 
Ampush,
Bengaluru, India,
Oct 29, 2020,
Guest

A tried and tested broker

Service use: Live

Length of use: 6-12 Months

Once I found out that HYCM is a veteran of the brokerage industry, I immediately decided to try this broker because I put much value on tried and tested brokerage services that operate on the market for a long time.
I opened a Classical account with variable spreads. As of now, I have nothing to complain about. Perhaps, I will try a Raw account soon because I’m intrigued by the lowest spreads.
 
Kasim Al-Salem,
Jeddah, Saudi Arabia,
Oct 26, 2020,
Guest

Nice app for comfortable trading

Service use: Live

Length of use: 3-6 Months

I'm a fan of trading with the phone. Every outstanding free minute, I look at the terminal or mobile app from HYCM. It continually seems that I can miss something. Not sure this is how its supposed to be, but anyway.. LOL
So for me, the app must be convenient and well loaded. And HYCM offers a great mobile app. It has everything you need, but it looks simple. It is quite easy to understand.
Trading conditions are at a high level here. The broker is multi-regulated. So for me, it is enough to trade without distraction.
 

Frequently Asked Questions

Is HYCM regulated?

HYCM Group is regulated in 4 countries.

  • Henyep Capital Markets (UK) Limited is authorized and regulated under the Financial Conduct Authority with reference number 186171.
  • HYCM (Europe) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 259/14.
  • HYCM Ltd is authorized and regulated under the Cayman Islands Monetary Authority under reference number 1442313.
  • Henyep Capital Markets (DIFC) Limited is authorized and regulated by the Dubai Financial Services Authority with license number 000048.
HYCM Limited is also registered in Saint Vincent and the Grenadines with registration number 25228 (IBC 2018).

What is HYCM?

HYCM is an online forex broker. HYCM offers access to trade the following assets on MetraTrader 4 and 5.

  • Forex
  • Commodities
  • Precious metals
  • Shares
  • Indices

What is the minimum deposit for HYCM?

The minimum deposit to start trading on HYCM is $100 for Fixed and Classic accounts, $200 for Raw account.

What is the maximum leverage for HYCM?

The maximum leverage for HYCM varies depending on the assets.

  • Forex: the maximum leverage is 200:1
  • Stocks: the maximum leverage is 20:1
  • Indices: the maximum leverage is 200:1
  • Crypto: the maximum leverage is 20:1
  • Commodities: the maximum leverage is 133:1
  • EFTs: the maximum leverage is 20:1