HYCM Review

3.282 · 98 REVIEWS

Formerly HYMarkets.com

Updated: Oct 23, 2020 · 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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3.282 · 98 REVIEWS
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Traders Reviews

Himawan Nugroho,
Kota Kinabalu, Malaysia,
Oct 21, 2020,
Guest

Quality Trading

Service use: Live

Length of use: over 1 Year

I like to work with a brokerage, it has a very high quality of work. I'm currently trading on a Classic account type and its trading conditions suit me. It has variable spreads from 1.2 pips and is able to trade through Expert Advisors. Also, I have never had a problem with my withdrawals, it is always very fast and the broker doesn't charge extra fees.
 
Akander,
Nairobi, Kenya,
Oct 19, 2020,
Guest

I liked the spreads here

Service use: Live

Length of use: 6-12 Months

I didn't have any problems with my brokerage. It works quite professionally, so far I haven't had any problems in trading with it.
At first, it was a bit difficult to choose the most suitable for me type of account, as the trading conditions on each account are slightly different.
The broker's website does have a test that should help you choose the right account type, but I didn't use it. Some forex forums write that the test isn't always accurate, so I didn't take the risk.
I chose an account type on my own and I have been trading on Raw account for more than 7 months. I liked that spreads there are pretty tight - from 0.2 pips. Since I trade with short-term strategies mostly, it was more profitable for me to open an account with the lowest spreads. Now I'm satisfied with my trading and my brokerage.
 
Najib Lailasari,
Jakarta, Indonesia,
Oct 15, 2020,
Guest

A good broker for conservative traders

Service use: Live

Length of use: 6-12 Months

I decided to trade with this broker because it suits me in many regards. First, I appreciate the fact that it has several regulations, so that gives me peace of mind. Another crucial fact is that it operates on the market for a long time. To be exact, it has been providing brokerage services since 1977, that's the best sign that brokerage is okey. As for me, I rarely trust brokers founded in 2010s.

If you're a conservative trader, just like me, then most probably, you would trade with moderate leverage such as 1:200 for currency pairs. I swear that it’s more than enough. Earlier, I even traded currency pairs with 1:100 and it didn’t prevent me to trade profitably. Some brokers offer 1:500, 1:1000 and even higher leverages, but I consider this dangerous because it’s getting harder to control risks in this case.

The broker allows to trade all popular types of financial instruments, including currency pairs, metals, indices, energies, stocks, and even digital coins. However, the latest altcoins are unavailable, you can trade only major cryptos here. It's okey, if we take in account that brokerage isn't positioned as cryptobrokerage.
 
Delhi, India,
Oct 11, 2020,
Registered user

Make a choice and have no doubts

Service use: Live

Length of use: 3-6 Months

It was important for me when I was just choosing a company.
And that's why I chose this company because it has existed for a very, very long time. And I liked the conditions here, because it met my expectations.
For permanent work I chose MT5, MT4 is also a good option, but the first terminal is more functional in my opinion.
I also like the analytics of this company, it is a pity that it is not published very often...
 
Lastinos,
Chimoio, Mozambique,
Sep 29, 2020,
Guest

Long experience

Service use: Live

Length of use: 3-6 Months

I don't like to change nothing in my life if ti works and HYCM was exactly I was looking for. Before it, I've changed 3 or 4 brokers, can't remember, and I was really happy to find this brokerage, test it and understand that I'm fine trading there.
First of all, its all about clients' support, HYCM has informative one. I wish to add a little more politeness but that doesn't impact informativity. I've asked around 10 questions and all answers were pretty informative and fast.
Secondly, trading proccess. HYCM offers two trading platform - MT4 and MT5. If you're new to trading, I strongly suggest you to start with MT5 but if you've already got used to MT4, than I don't see any point to change trading platform. You can also use WebTrader if you don't want to install the app.
Thirdly, spreads are quite reasonable for brokerage of that level. Of course, they aren't the lowest one but 1.2 for majors is wonderful.
Maybe there are some disadvantages, I'm even sure that they are but I see nothing that's unconvenient for me.
 
Chau Quan,
Tra Vinh, Viet Nam,
Sep 23, 2020,
Guest

Trustworthy broker

Service use: Live

Length of use: 6-12 Months

I liked working with a brokerage, it provides a high degree of security. And personally for me security in trading, if not the most important, is a very important component. Unfortunately, not all brokers take it as seriously. But it is cool that I work with such a serious broker, I like it. I will continue to work with it, as its trading conditions are quite favorable also))
 
Tebogo Mdluli,
Nairobi, Kenya,
Sep 18, 2020,
Guest

Many types of account! There is plenty more to choose from

Service use: Live

Length of use: 3-6 Months

I like that it is possible to choose trading conditions which suit you more in HYCM. Fixed or variable spreads. Whether you pay commission or not. There are 3 type of accounts with different conditions. For those who don`t know, what type of account to select, there is the special test. There are about 5 – 7 question about your trading style in it. Because, some accounts allow EA and other don`t. And it`s important to know, does a trader use them or not, beforehand.
I also like how the broker is regulated. There are a few regulators in different regions, because HYCM works in many countries.
 
Baber Chohan,
Lucknow, India,
Sep 12, 2020,
Guest

I like to plan.

Service use: Live

Length of use: 6-12 Months

And of course I was sure that in this business it will be a real help for me.
But when I started working in the real market, I realized that it was difficult to plan everything with maximum probability, because the market was not as straightforward as I thought. In fact, there are often some speculations, abrupt price changes or something else that fundamentally changes my action plan.
Now I'm used to it, but it took a lot of time and regular practice. By the way, I am pleased with the fact that this company provides me with constant access to the demo, it helped me to practice every free minute. And I can generally advise everybody to use this tool, because it doesn't require any extra fees, but it really helps in my work.
And I also liked that there are different types of spreads, I tried all of them. And in the end I chose variable spreads because I figured out how to do the calculations and they are only from 1.2 points. But maybe I would have started to work more actively with the raw spreads, but I'm not sure it's a great idea for me yet.
 
Mubarak Arif al'Bakir,
Jeddah, Saudi Arabia,
Sep 9, 2020,
Guest

I have no complaints

Service use: Live

Length of use: 3-6 Months

The hardest thing was for me to choose an account type for working with a brokerage. The fact is that they are quite different, and for different traders, different accounts can be differently profitable. In general, I was satisfied with my choice, I still trade on the same account after 5 months. I am content with the broker itself and its work, no complaints ;)
 
Adwigoa,
Maputo, Mozambique,
Sep 9, 2020,
Guest

One of the rare companies

Service use: Live

Length of use: 3-6 Months

It`s the old-timer of an industry. Multi-regulated company with more than 40 years of experiences. There are nice trading conditions here. Spreads from 0.2 pips. No withdrawal fees. Fast execution.
 

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