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

Ranjan Chapagain,
Nildandahinna, Sri Lanka,
Jun 24, 2020,
Guest

Just ok

Service use: Live

Length of use: 3-6 Months

The broker works on mistakes, I think that's good. I talked to one of the managers and I didn't like the way of the conversation, as I felt that the manager was NOT interested in me starting to trade with my $500. In other words, the manager was speaking to me in a passive way.
I understand that this broker has traders with large deposits and my deposit is not very important for it, but I don't expected such attitude. I have 3 friends that are trading with it and all of them are 100% satisfied, so that was strange. Btw I requested a withdrawal and received it in four hours.
The next day another manager contacted me and asked me to apologize for the behavior of the previous one, so I decided to came back.
 
Tolu Obiageli,
Cape Town, South Africa,
Jun 15, 2020,
Guest

Convenient platform and market outlook

Service use: Live

Length of use: 0-3 Months

I always knew that if I succeed in trading this would happen because of a good business plan. Yes, exactly. Business plan. There is no point to start trading as a hobby only. Better give the money to charity. That would definitely make more sense and leave you happy about yourself.
Yet, if you consider trading as a source of money, as a real job, you gonna need a reliable partner and a plan.
The choice of a broker is about choosing a reliable business partner. That’s why HYCM was my choice. Basically, I’ve chosen the regulated brokerage that offers nice trading conditions. The good bonus about this partnership is that they provide small facilities that actually are helpful on a daily basis. On the official website I can find all the fundamentals at one place (news, trends, etc) and as well there is a weekly market outlook. I also try not to miss the special webinars for HYCM clients. The guy doing these webinars is actually an interesting trader and can point attention to some fundamental changes in the markets as soon as they occur. I.e at coronavirus breakout he did an excellent webinar about how this might affect different assets like gold, SnP index, etc.
 
Corneos Mthethwa,
Antananarivo, Madagascar,
Jun 8, 2020,
Guest

Found the right thing

Service use: Live

Length of use: 3-6 Months

The Raw account is what you need if you're working with large volumes, and I think that's exactly what I needed, let's see what happens next, I'm already excited.
 
Gentel Al'Samel,
Manama, Bahrain,
Jun 7, 2020,
Guest

Trade as a business

Service use: Live

Length of use: over 1 Year

I decided long ago that I would do trading seriously, because I had difficulties at my main job and had to look for some analogue. I was comfortable here and I clearly understood that if I increased my capital and worked more, I would be able to switch to this format of income on a permanent basis. That's why I switched from a fixed account to a classic one in order to personally control all spreads, increased my account with a deposit and started trading on average 5-6 hours a day. And I can say that this was the most worthwhile decision in the last year.
 
V/Nader,
Nonthaburi, Thailand,
Jun 7, 2020,
Guest

Evaluate the broker, but don't forget about yourself.

Service use: Live

Length of use: 3-6 Months

I do not expect from a broker what I will earn under any circumstances, even considering that this company has a good reputation and high status. I know for a fact that a lot depends on me.
But I like the fact that there is a set of tools, which are suitable for different strategies and can be useful for both beginners and pros.
2 quality terminals, specialized calculators, acceptable spreads - these are the facts about this brokerage company.
 
Clinton Bell,
Casablanca, Morocco,
Jun 5, 2020,
Guest

Honest review

Service use: Live

Length of use: 6-12 Months

Starting.
That was easy. Registration was simple, like anywhere nowadays. Verification required little more effort, yet the KYC went well and fast enough. Took just 2 days to complete.
Platform
all is rather trivial here. MT4 for web, desktop or gadgets
Trading fees
That depends on account. Mine is standard and its definitely more favorable than fixed account in a long run. Yet u can definitely feel the spreads pressure on your averages. That always happens on forex, yet it would be nice to try the raw account type with bigger lot sizes. It feels like that could be more favorable. For now I'm ok, but there is a plan to transfer to raw spreads+commissions sometime in the future.
Withdrawals
all fine here. BY this time the total size of withdrawals exceeds the initial deposit, so I can finally claim the broker is honest regarding this matter.
Other bonuses
they don't offer bonuses for eu clients due to CySEC and FCA regulations. Others can expect a small welcome bonus, but that's not much anyway and depends on turnover. Nothing to catch here. Nevertheless, the good non-material bonus are their webinars and a helpful market outlook. All infomration on the markets that you might be interested in - fits on one page. That's an advantage.
 
Mavis Blanda,
Bacoor, Philippines,
May 29, 2020,
Guest

I can trade without any significant restrictions

Service use: Live

Length of use: 6-12 Months

Every trader is looking for something that can at least secure him in the market and make trading more efficient and profitable.
I have found it here and I believe that my broker is my help and support, because they understand my needs and try to make everything so that I could trade without any significant restrictions, while being competent and profitable!
 
Awad Hawsawi,
Tunis, Tunisia,
May 25, 2020,
Guest

Respectable broker

Service use: Live

Length of use: over 1 Year

When I write "respectable broker" I mean it's a company that can be trusted. In general, this is the basic thing in trading - you have to choose a broker that you can trust, because you invest your money. The problem is that with the spread of online trading, there are a lot of people who go to steal your money and they create scam brokers.
That's why I approached the choice of a broker very responsibly, checking all the information about the company not only on the official website, but also in the media, regulatory websites and other sources. A separate problem was that I didn't want to invest more than $400 and among reliable and respectable brokers only this one accepts small deposits. Here are some of the reasons that made me choose this broker.
1. Fully adjustable. It has 4 regulations at once, including the United Kingdom, so this is the main reason.
2. There's a lot of mention in the media and forums. This indicates that the broker is quite popular, which means that it keeps track of his reputation.
3. Positive reviews.
I can advise - do not concentrate on trading conditions, almost all brokers have similar ones. It's better to choose a reliable broker.
 
Graiz Al-Otaibi,
Meknes, Morocco,
May 17, 2020,
Guest

Positive experience

Service use: Live

Length of use: 6-12 Months

My experience with the broker is positive. I started with a standard account, casue the difference between min and standard was rather significant imo: 1.2 VS 1.5 min spreads. Becuase the broker is fully regulated, I didn't have any fears about the destiny of my deposit.
So far trading goes fine. The platform is standard - MetaTrader. Fees are minimal, service is fine. Not much else that I need from a broker.
 
Tremaine Goldner,
Singapore, Singapore,
May 5, 2020,
Guest

loyal to their clients

Service use: Live

Length of use: 0-3 Months

Actually, I can't call myself a trader yet, let alone a successful one. I'm just learning this business for now, but I can say that I'm very satisfied with my choice of a brokerage company, they are really loyal to their clients and help me get used to it.
1) There is a wide range of tools for market analysis.
2) There are training materials for different levels of training - very useful.
I really like it!
 

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