HYCM Review

3.332 · 122 REVIEWS

Formerly HYMarkets.com

Updated: Apr 16, 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

Live discussion

Join live discussion of HYCM.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

3.332 · 122 REVIEWS
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!

Traders Reviews

Yeray Rojo,
San Luis Potosi, Mexico,
Apr 13, 2021,
Guest

It may be boring for novice traders

Service use: Live

Length of use: 6-12 Months

Novice traders may find this brokerage service boring because it doesn’t try to attract them with catchy bonuses, very low deposits, not to mention points of activity. Here they can find only Metatraders and a standard array of financial instruments.
On the other hand, experienced traders will find here ultimate reliability of the broker with a very rich trading experience and proven platforms.
I remember times when I was also attracted by bonuses and low deposits. Over time I realized that such brokers have liquidity issues due to the lack of regulation.
I stuck with this broker once I became a mature trader and started to value a good execution and the possibility to withdraw money at any time.
 
Maury Hodges,
Lagos, Nigeria,
Apr 10, 2021,
Guest

All changed when I started working with HYCM

Service use: Live

Length of use: 3-6 Months

How long have I been looking for such a broker ... All changed when I started working with HYCM. Here I wanted to tell you about what attracted me:
- this is an experienced broker, 20 years in Forex and everything works well;
- a large selection of assets for trading (and I love stocks so much);
- and if I love stocks, then I also love MT5 (the HYCM broker has the opportunity to trade on MT5)
- money is withdrawn quickly and without problems. I appreciate it.
The main thing is to search and you will always find what you are looking for!
 
Bandar Hamal Ganim,
Riyadh, Saudi Arabia,
Apr 6, 2021,
Guest

I vote for ultimate reliability

Service use: Live

Length of use: 0-3 Months

I think that I could forgive a broker any of its downside if it’s reliable. Reliability is the number one quality I value most in any broker. When talking about reliability, I mean a manipulation-free trading process and the possibility to withdraw money you earned with this broker. These two things make any broker reliable in my eyes.
That’s what I can say about HYCM. I have been already trading here for more than two months and I see that I made the right choice.
 
Pavao Šarić,
Zagreb, Croatia,
Apr 5, 2021,
Guest

I can be calm with HYCM .

Service use: Live

Length of use: 3-6 Months

There are so many forex brokers appearing now and everyone is trying to get better. For me personally, the experience of the company and safety are important. Broker HYCM has been on the market for 20 years and this is very important for me. It is also regulated by the FCA in the UK and CySEC in Europe. Knowing this information, I can be calm about the safety of my money.
 
Kornel Krupa,
Warsaw, Poland,
Mar 30, 2021,
Guest

A broker with a proven track record.

Service use: Live

Length of use: over 1 Year

I have been trading in the Forex market for a long time and often try new brokers' conditions. But, HYCM is an exception on my list. He recently started working online, although he has more offline experience than any other broker.
My longtime acquaintances have known this company since the 80s. It was not an online broker back then but was delaing with investments (real estate, etc..)
I have been trading with HYCM for over three years. Of course, he is not the only broker I trade with, but he is number one on my list.
Most newbies' reviews are more neutral towards the broker since they do not understand the main advantage. This is reliability. Be careful and once again careful when you choose a broker!
 
Umar Khalid,
Qatar, Qatar,
Feb 24, 2021,
Guest

Just a reliable broker

Service use: Live

Length of use: 6-12 Months

In simple words, I can say that it’s a reliable broker with a very rich experience - more than 40 years of working in the industry. So, if you are looking for a trustworthy broker with fast and trouble-free execution, then you can stick with this broker. This broker caters to experienced traders who are interested in working with a reliable partner. If you belong to this category, you will appreciate working with this broker. On the other hand, if you are a trader of a new generation, then you may find some downsides here. First, you need to realize that HYCM LTD (St. Vincent) is the only branch of the broker that offers high leverage - up to 1:500. It’s for major Forex instruments, other assets are traded with lower leverage. As for other broker’s branches, namely Henyep Capital Markets (UK) Ltd (FCA) and HYCM (Europe) Ltd (CySEC), you can trade Forex with them using leverage 1:30. So, take this into account when trading with the broker. Secondly, the broker doesn’t give bonuses. So, if your money management policy suggests getting bonuses, you can’t count on this broker. However, I think its reliability is more important than those downsides mentioned above.
 
Gbemi Okanmi,
Talatona, Angola,
Feb 21, 2021,
Guest

I trade major currencies with this broker

Service use: Live

Length of use: 0-3 Months

I registered with this broker two months ago. So far I like to trade with it. So, I can say that my expectations were met. I heard a lot about the broker. It boasts a very rich experience of working in the industry. And it’s a good thing that reviews about it were generally true.
I opened a Raw account because I require very low spreads for scalping. The quality of execution corresponds to the high status of this brokerage service.
 
Ka Ther Suan,
Hanoi, Viet Nam,
Feb 18, 2021,
Guest

I like the HYCM app

Service use: Live

Length of use: over 1 Year

The company offers reasonable conditions for traders. But the main thing that attracted me was the convenient mobile app.
Not every broker has an app that is easy to use. Usually, they all have a lot of drawbacks. But in HYCM, everything is made perfectly. It is easy to manage your accounts in the app: you can withdraw money, add funds, and transfer funds between accounts. And you can also verify, set alerts for prices, etc.
 
S,Armstrong,
Singapore, Singapore,
Feb 17, 2021,
Guest

How to choose a broker? My experience

Service use: Live

Length of use: 0-3 Months

I've been choosing a broker that fits all my requirements for a long time. So far, I haven't found one. But I did find HYCM. It has almost everything I need.
For example, a small deposit, because I haven't yet accumulated a lot of capital to start with. Plus, I need some regulation so I can trust the company. And HYCM is a multi-regulated broker, which is a significant advantage for me.
The availability of a large number of companies in the terminal with favorable trading conditions on them is the next requirement. And I'm delighted with HYCM in this way.
The only thing I didn't have here is the training that would fit my needs.
 
J Bunch,
Ogembo, Kenya,
Feb 15, 2021,
Guest

I chose this broker for reliability

Service use: Live

Length of use: 0-3 Months

When it comes to trading, I prefer to deal with proven partners. So, I prefer to choose brokers among respected companies established a long time ago. I don’t trust brokers founded in the 2000s. Perhaps, I’m too radical in this regard, but I can’t change my mind. Perhaps, it’s a sort of phobia or something like this.
This broker operates in the industry up to forty years. This fact persuaded me to join the broker. I signed up deposited a trading account and deposited money. Then I got down to trading. I chose a Raw account because it offers the lowest spreads. I need this for scalping. The way my market orders are executed satisfies me. In this regard, the broker definitely met my expectations.
After a week of trading, I withdrew my earnings and the withdrawal process didn’t make me nervous.
 

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