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.
 
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!
 
G D Villadi,
Hanoi, Viet Nam,
May 1, 2020,
Guest

Good broker

Service use: Live

Length of use: 6-12 Months

Have to admit, the broker manages rather good during these volatile times. Executions remain very nice, taking into consideration how much the market is being stormed.
 
Muneer,
Port Said, Egypt,
Apr 27, 2020,
Guest

Normal conditions

Service use: Live

Length of use: 6-12 Months

I work here quietly, without unpleasant surprises. Everything works as promised at registration. Money is withdrawn without delay.
 
Canada, Canada,
Apr 23, 2020,
Registered user

Scam fraud broker

Service use: Live

Length of use: 0-3 Months

Fraud scam broker please please do not open any trading account with them your money mever be returned back
 
Reply by HYCMTeam submitted Apr 28, 2020:
Hello Beeboo.

I'm sorry to hear you have experienced issues. Please contact your account manager as they will be able to provide more information on your individual situation. Alternatively, speak to our support team available via live chat on www.hycm.com

Kind regards,
HYCM Team
Mustafa,
Tizi Ouzou, Algeria,
Apr 21, 2020,
Guest

Cryptocurrencies available

Service use: Live

Length of use: 3-6 Months

Cryptobrokers are very difficult to deal with. none of them is regualted. Here I can trade over a dozen of crypto assets under appropriate reliable regulator's supervision.
  1 trader has found this review helpful
Thabo Prinsloo,
Cape Town, South Africa,
Apr 18, 2020,
Guest

to trade in the mood...

Service use: Live

Length of use: over 1 Year

It's my personal approach, so I won't position myself as a professional. I trade in the mood for pleasure, sometimes it turns out to be a plus, sometimes it turns out to be a minus. This broker was chosen at random. A few years ago. When I go out on the plus side, I sometimes withdraw money in small amounts, I do not earn large sums here, but as well I have never experienced problems with withdrawals
"
 

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