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

Anibal Nicolas,
Tampines New Town, Singapore,
Mar 25, 2020,
Guest

One of the best brokerages to trade with

Service use: Live

Length of use: over 1 Year

HYCM is multiregulated brokerage, that's the first point and it's the most important. For me - the only brokerage I can trust - is regulated one. Of course, HYCM isn't the only one regulated brokerage - but it's one of few that is regulated by many authorities. HYCM is part of Heynep corporation, as far as I know it opperates globally, in Europe, Asia and Middle East. Heynep has different subsidiaries that's regulated by FCA in the United Kingdom. CySEC is the European Union, CIMA in Americas and DFSA in Asia and Middle East (Dubai UAE regulator). The company opperates since 1977, before the Internet era even). The main office of company is located in London, with other offices located in Hong Kong and Dubai. I specifically focus on such formal features, because there is practically nothing to talk about trading conditions. The company is extra-level, so the trading conditions here are appropriate. The only thing I can focus on - fast withdrawals and no fees or comissions, that's really nice.
 
Australia, Australia,
Mar 20, 2020,
Registered user

Indian Scam

Service use: Live

Length of use: 0-3 Months

I didn’t realize until I gave all my details and gave a deposit. Have been getting nonstop calls to deposit. When I deposit they have been taking money and have not given me a refund once I realised it was a scam. I’m very angry n asking government for assistance.

After reading comments I see this is scam trading site. Why would an Indian company advertise different locations with 5 stars?! Argentina n other countries. These are fake reviews by Indian workforce. Something must be done!!!
 
Reply by HYCMTeam submitted Apr 28, 2020:
Hello there,

I am sorry to hear about the issues that you are experiencing. I can reassure you that HYCM is not an Indian company; we operate and are regulated in the UK (FCA), the EU (CySEC), Americas (CIMA), and Asia and Middle East (DFSA).

We do not call our clients 'non-stop' to deposit. I am concerned you may have signed up to a scam website that is trying to imitate our official site. Please chat to our team via the live chat on our official website www,hycm.com to resolve this.

Kind regards,
HYCM Team
Lam Aw,
Kuching, Malaysia,
Mar 19, 2020,
Guest

Small minimum deposit, fast withdrawals

Service use: Live

Length of use: over 1 Year

You know, there are some companies, you haven't a lot to say about. Everything you can say it's just "brokerage is good". With HYCM is the same thing. I trade it for 3 years and can get positive feedback only - mininimum deposit starts at 100 dollars. brokerage is 100% regulated, no slippages, lags or occasions, withdrawals take 2-3 days, never more.
 
Berk Samancı,
Istanbul, Turkey,
Mar 18, 2020,
Guest

Brokerage that deserves trading with

Service use: Live

Length of use: over 1 Year

Trading on the financial market has long been organized and implemented in online mode. Traders do not need to use trading rooms or offices. Sales and purchases are made remotely through trading platforms from anywhere in the world. Therefore, the quality of the broker becomes more and more important, which has a great impact on the profitability of the trader. I trade with HYCM long enough to have a full opinion. Broker has good regulation, good spreads and excellent reputation. My experience confirms that all this is not for nothing and the broker is really good, so I can recommend it.
 
Leo Mabuza,
Cape Town, South Africa,
Mar 14, 2020,
Guest

Reliable brokerage

Service use: Live

Length of use: over 1 Year

And that's not a manipulation or sth like this. Its strange and funny to read, how reviewers call brokers 'reliable', when in fact their brokerages are, maximum, of average reliability. I don't mean that HYCM is only one or exceptional brokerage. Of course not, there are some brokers that offer the same service or even better. However, such brokers have much stricter requirements, so only people with fatty pockets can collaborate with them. HYCM is cool because it combines reliability and affordability. HYCM is the part of Heynep group and is regulated in four jurisdictions: the EU, the UK, Dubai and HK. The main office. as far as I remember is located in London. For me HYCM is a great combination of, as I already said, true reliabilty (brokerage is part of huge financial group, located in the World Financial Capital) and affordability (min deposit is only $100)
 
Edmonton, Canada,
Mar 12, 2020,
Registered user

Bad server

Service use: Demo

Length of use: 0-3 Months

Tried placing a position on MT5 and the order takes long to process and sometime it keep asking for re quote... Spread are bit too much for buying positions. This is just the demo I wonder how many problems I’ll have with real account.. it’s very important to have good server otherwise it’s useless to trade
 
Reply by HYCMTeam submitted Apr 27, 2020:
Dear Baigxy,

We take any issues with our platforms or servers very seriously. If you are still experiencing these issues with your demo account, please contact support@hycm.com or speak to our team directly via the chat window on our website.

Kind regards,
HYCM Team
Halleen,
Khobar, Saudi Arabia,
Mar 6, 2020,
Guest

Thoughtful support

Service use: Live

Length of use: 3-6 Months

I don’t know any other broker with this much care about details. Whenever I have a problem with settings or a question regarding the fees and withdrawals - support thoroughly examines the request, helps and makes sure I got the answer and have no further questions. In comparison to many other companies that use chatbots and have no live support at all - HYCM shows a great example.
 
Pintar,
Tangier, Morocco,
Feb 26, 2020,
Guest

Respectful brokerage

Service use: Live

Length of use: over 1 Year

Our days there is so much brokers and each one tries to highlight itself with some points, but I trust and respect only brokerages as HYCM. I came there when it was named HY Markets and it's really dinosaurus even compared to other long-operating brokerages, in good sense ofc. This broker is all about respect and everything is designed in the way, when you respect the brokerage and feel that it respects you as well. Of course, spreads aren't the lowest that you can find, but it compensates with stable multiple-regulations, more than 40 years history and a lot of awards. Maybe some traders don't like awards, but for me this is not just trinkets, but the sign of broker's reliability.
 
Juan David Armas,
Buenos Aires, Argentina,
Feb 25, 2020,
Guest

Good broker for EA trading

Service use: Live

Length of use: 3-6 Months

I’ve learnt about HYCM brokerage from fellow traders. They advised paying attention to raw account, which suggests paying commission per round, but almost no spread. This totally fits my view on favorable trading conditions. As long as the broker allows the use of EA, I’m totally happy now with the broker and can definitely recommend it for algotrading.
 
Sarawak, Malaysia,
Feb 15, 2020,
Registered user

General review

"Please note, that according to the customer agreement HYCM reserves the right to close client accounts without providing a reason."

Been reading this statement by HYCM themself over and over here on FPA..this is so unethical. How can such practice exist in real world? As if it was a strategy to avoid profitable traders from their company.

The fact that they accept them at the first places and than say "Please note, that according to the customer agreement HYCM reserves the right to close client accounts without providing a reason" later on is just too unethical practices.

Red flag alert statement
 

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