HYCM Review

2.703 • 115 REVIEWS
Formerly HYMarkets.com
Updated: Mar 22, 2024
HYCM.com (.eu)

HYCM is a forex broker. HYCM offers the MT4, MT5, and Mobile trading currency platforms. HYCM.com offers over 30 currency pairs, cryptocurrencies, indices, stocks, commodities, ETFs, and cfds for your personal investment and trading options.

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, Henyep.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, SFC #AAD534, SVGFSA #25228, DFSA #F000048, FCA #186171
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (65+)
Cryptocurrencies: (10+)
CFD: (300+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Other Commodities

Trading Conditions

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
* Please check broker website for more information
2.703 • 115 REVIEWS

Recent User Reviews of HYCM

Alberta, Canada,
Sep 22, 2023,
Registered user

Closed my account without a reason and took trading profits

Service use: Live Length of use: over 1 Year
Don’t trust HYCM. Out of the blue they sent me an email saying they would be closing my account. I asked why several times with no response. I was given back my deposit minus my trading profits and still no explanation for why any of this happened. Not a trustworthy company.
Egypt, Egypt,
Dec 12, 2022,
Registered user

MARKET MAKERS won't accept scalping

Service use: Live Length of use: 0-3 Months
SCAM MARKET MAKERS my account manager contact me and said withdraw your money quickly out of here because they won't pay you any penny because you are scalping and we don't accept this type of scalping so any profits you will make you won't get it to your bank
yogyakarta, Indonesia,
Jul 14, 2022,
Registered user

cancel all my profit

Service use: Live Length of use: 0-3 Months
i made a good profit and try to request for withdrawal
they adjust all my profit to zero
stay away from this broker
1 trader has found this review helpful
malaysia, Malaysia,
May 23, 2022,
Registered user

Complain to HYCM, deduct my profit

Service use: Live Length of use: 0-3 Months
After more than a month of hard trading, I finally made a profit. Until the first withdrawal in late May, HYCM said that I violated the rules, so they closed my account and deducted my profits. At present, I can't log in to my personal Center, I asked them for evidence, but I didn't receive a reply from them. I don't understand why they don't pay profit for normal transactions. Please stay away from this broker.
1 trader has found this review helpful
Lisbon, Portugal,
Dec 23, 2021,

A regulated broker

Service use: Live Length of use: 3-6 Months
HYCM is a broker, that has been under UK regulation for 20 years, which was one of the criteria why I chose this broker. I have a classic account here with floating spreads.
I trade here with good profits. I managed to earn about 30% a month. Generally the most profitable trending strategies and it is logical and understandable. Especially when you trust the broker.
Daniel García
Irapuato, Mexico,
Aug 16, 2021,

I like to scalp here

Service use: Live Length of use: 3-6 Months
I chose their Raw account for scalping. Despite it’s called “Raw”, it’s actually an ECN account. Here we have a typical ECN offer - tight floating spreads and a commission. The execution is good here - that’s what I expect from any regulated broker. By the way, it’s a pioneer of Forex trading. The company was started just a year after the emergence of the foreign exchange market.
Ahmad Mahmoyd
Amman, Jordan,
Aug 13, 2021,
Registered user

Stay away please!!!

Service use: Live Length of use: 0-3 Months
Please please stay away from hycm especially if they offered you the choice to register your account in Saint Vincent and the Grenadines ( in which they are allegedly licenced)...

Market orders execuated through them run perfectly until you start gaining real profits:
Your orders start getting seriously delayed ( until major market price changes has occured)...

Other profitable orders don't even get through even when trying multiple times...

They did this twice to me in a way that was too obviously intended to hurt my account ( after gaining good profits each time)...

And every time, they used ridiculous excuses:
Internet speed issues, software glitches, market volatility..

Of course with other respectable brokers, you never face those type of issues ( especially when it is very obvious it's intentional and timely)..

I got so many recorded videos showing clearly how they screw up your orders...

To be fair to them, when it comes to withdrawing money : they always sent the requested amount in very brief time ( at least this is my personal experience).

They are definitely a fraudulent company that would throw ambiguous technical reasons for you to make you accept how you got ripped of your money...

Please please go with more trusted brokers: they are simply not worth risking your money.
1 trader has found this review helpful
Rhodes, Greece,
Aug 9, 2021,

I have everything for normal trading

Service use: Live Length of use: 3-6 Months
I have been working with HYCM for 5 months. I will note the speed of transactions, acceptable spreads, trading and withdrawal without commissions. I currently withdraw only small amounts ($200, $600, $750) and there is no withdrawal limit. For me it is great to have many different options for deposit or withdrawal. I have not paid much attention to electronic wallets such as Webmoney or Skrill, even though I know that the withdrawals come faster there. My profit from time to time I withdraw to my card.
Ameer Shafeeq
Al Hufūf, Saudi Arabia,
Jul 29, 2021,

I enjoyed working with this broker.

Service use: Live Length of use: 0-3 Months
I enjoyed working with this broker. I like that everything is fair here and I can be sure that my money will not disappear.
I know that there are many brokers who are Forex scam and this is sad. This is indeed the case. HYCM broker is a company that has been operating for a long time and has many traders all over the world.
I read a lot of HYCM broker reviews and realized that this is the place where I can make money on the Internet.
Izaak Zając
Mysiadło, Poland,
Jul 20, 2021,

Trade stocks

Service use: Live Length of use: 3-6 Months
Here you can easily and profitably trade stocks. Which broker of this level like this will offer 1:20 leverage on stocks? Most brokers also make spreads huge, up to 200 pips for some types of stocks. HYCM is not greedy. They earn themselves and let the trader earn. There are no conflicts of interest. My opinion is that if they somehow cheated, worked against traders, they would not have held out on the market for more than two decades. The market would just eat them. They develop and traders go to them. See for yourself, try it, you will be satisfied.

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 F000048.
  • Henyep Securities Limited is authorized and regulated by HK Securities and Futures Commission (SFC) with license number AAD534.
HYCM Limited is also registered in Saint Vincent and the Grenadines with registration number 25228.

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