HYCM Review

3.047 · 80 REVIEWS

Formerly HYMarkets.com

Updated: Jul 31, 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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3.047 · 80 REVIEWS
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Traders Reviews

Raif al Nizan,
Jeddah, Saudi Arabia,
Jul 30, 2020,
Guest

It's not long ago that I started to understand the market

Service use: Live

Length of use: 6-12 Months

And of course it helped me to have experience and a desire to understand what it is, how it works and what to do with it all.
In fact, I started working for this company almost immediately. At first, of course, I had some difficulties and questions. But I concentrated on working on a demo, I was attracted by the fact that it has almost all the features of the main terminal, so it helped a lot. I studied a lot of analytics, too. Both here and from other sources. And it was quite useful for my development and becoming a trader.
 
Adaugo Yaqub,
Lagos, Nigeria,
Jul 29, 2020,
Guest

Excellent brokerage available for everyone

Service use: Live

Length of use: 3-6 Months

It was my second broker after the unregulated one and only now I realized what real professional trading is. You will feel this difference only in tiny things, but it makes sense. Look at this:
1. My previous broker was not regulated (it was registered as a financial company on SVG), so I was not legally protected. The broker feels this, so he is not in a hurry to solve some problems (you can't complain anyway). Here I see a completely different approach. Broker has 4 regulations, including FCA and CySEC.
2. The minimum deposit is only $100. This broker has a minimum deposit of $100, and my previous broker had a deposit of $1000, so here you need to test a broker 10 times less money.
3. That's a great support service. I asked about 10 questions and all my questions were answered by my email within 2-3 hours. The answers were detailed enough.
4. There is training. Only good brokers invest in training. These brokers do it too. Training here is good enough to help you understand the basics of trading.
 
Ramesh Baral,
Howrah, India,
Jul 25, 2020,
Guest

Happy that found this brokerage

Service use: Live

Length of use: over 1 Year

I always dreamt up trading with tier-1 brokerage, but it's really hard to find a brokerage that will accept small traders. So, this brokerage was only one of options. I'm trading 3 years now and I'm 100% satisfied. Fast orders execution, reasonablle spreads, almost no slippages.
 
Ebiowei Balogun,
Oujda, Morocco,
Jul 24, 2020,
Guest

I've been invited to trading for a long time...

Service use: Live

Length of use: 0-3 Months

...by my friends. And I kept saying no. I didn't think it would fit at all...
And then I just gave up and decided to try it. And I'm glad I was wrong, because trading turned out to be a great thing.
Especially here, where you can train, learn different strategies, without problems to withdraw money, immediately know about important events.
 
Giulio Damiani,
Marabu, Malaysia,
Jul 21, 2020,
Guest

Just an OK broker

Service use: Live

Length of use: 3-6 Months

I see that many people here admire the broker and the fact that the Ong accepts small traders. I don't think that makes any sense. For a broker it's just a way to attract additional clients and for the company it costs practically nothing.
Yes, I agree that trading with a broker is good, but I feel that a broker is designed for people with a rich wallet, I feel uncomfortable here. I can't even explain the reason, but that's my opinion.
 
selo Vilayki, Russian Federation,
Jul 20, 2020,
Registered user

problem with withdrawing funds

Service use: Live

Length of use: 3-6 Months

Hello! my name is Alexander Prosin, account number MT5 620000542. For more than a week I have not been able to contact my manager in this company and the support service is also not responding. there is money on the account and I'm worried. on Friday, July 17, 2020, I made a request to withdraw part of the money from the trading account, but they still have not arrived in my bank account. This is problem. if HYCM managers read this, I would like to hear their comments on this matter.
 
Olufun,
Nairobi, Kenya,
Jul 16, 2020,
Guest

Tier-1 brokerage

Service use: Live

Length of use: 6-12 Months

Before trading there I've read many reviews and they were positive. Moreover, before trading there I've also contacted with some HYCM traders and their feedback was positive as well. Now, that's my turn to write a review.
In general, I'm satisfied with this brokerage. You should understand that HYCM is not a common brokerage, but tier-1 broker with high-deposit clients and really reliable regulations. So, it's always preferable to trade with such brokers, as they simply offer better trading conditions and higher security.
However, I think that will be fair as well if I'll note some disadvantages. This brokerage doesn't accept US clients and offer lower leverages for the EU clients (due to strict EU regulations)
 
Kazibwe,
Cairo, Egypt,
Jul 15, 2020,
Guest

I feel like it's a place to develop.

Service use: Live

Length of use: 6-12 Months

And the conditions of this company are really good for me.
There are no problems with withdrawal of funds, I have tried different payment systems.
 
Barta Dabukke,
Tulungagung, Indonesia,
Jul 12, 2020,
Guest

Without a doubt...

Service use: Live

Length of use: 0-3 Months

Personally, I liked HYCM right away. It certainly doesn't mean that I started trusting it immediately and instantly opened an account here. At first I checked the brokerage, the reviews on the web about it were more positive than negative or neutral. Then I looked at the broker's trading conditions. And these conditions with positive reviews convinced me that it is worth trying what my trading with HYCM will be like. In general, I'm satisfied and will continue to trade with this brokerage, as it didn't give me reason to doubt it.
 
А.Turner,
Bangkok, Thailand,
Jun 28, 2020,
Guest

My interest is getting stronger every day.

Service use: Live

Length of use: 6-12 Months

Of course, it is difficult to say that trade and market research is some kind of entertainment. It's a rather complex and multifaceted job, which requires a lot of time, motivation and interest, and of course certain investments. Because if you still believe that you can make a million with 100$ seed money - get rid of this idea right away, because it doesn't work. You need good capital for a good profit.
I found this brokerage company myself, just browsing through the sites, studying trading conditions and user agreements. I understand that regulation also matters. And at this stage it turned out that finding a company with a license is a much more difficult task. So, I found myself here, the company meets all modern requirements.
What did I like about it?
- Fixed spreads, small from 1.8 points and no extra fees.
- Access to analytics from market experts.
- Fast withdrawal without excessive commissions, etc.
I think that these are quite loyal and advantageous conditions for both a beginner and an experienced trader.
 

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