HYCM Review

3.047 · 80 REVIEWS

Formerly HYMarkets.com

Updated: Aug 12, 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
"
 
Windie,
Banyumas, Indonesia,
Apr 14, 2020,
Guest

nice fixed spreads

Service use: Live

Length of use: 6-12 Months

1.8 for EURUSD and other liquid ones. This is a really nice offer considering that the broker is a legit one, having all the rights to work all ever the world and being regulated by most reliable regulators.
 
Pers_Truter,
Nairobi, Kenya,
Apr 12, 2020,
Guest

Rare assets offered

Service use: Live

Length of use: 3-6 Months

One of the few brokers that has rare indices, including european ones, chinese, asian, etc. I’m not interested in crypto but if you appreciate those kinds of things will be glad to find numerous alts too.
 
Bibek,
Kuala Lumpur, Malaysia,
Apr 11, 2020,
Guest

non-problematic withdrawals

Service use: Live

Length of use: 3-6 Months

this is the most important I guess. ive had certain doubts before started withdrawing profits exceeding the initial deposit. now can definitely say, this is a no-dealing desk broker and make money with commissions, not our lost deposits.
 
Slawomir K.,
Pikulice, Poland,
Apr 11, 2020,
Guest

APPROVED

Service use: Live

Length of use: 6-12 Months

I’m not going to mention spreads and other trading conditions, cuz this is not the most important thing when choosing a broker IMHO. These guys are doing their work good, fast connection with servers matters a lot and this is what I appreciate most. No troubles with withdrawals, which is another reason to recommend and approve.
 
Lang Kuswandari,
Yogyakarta, Indonesia,
Mar 30, 2020,
Guest

Fascinating raw account

Service use: Live

Length of use: 6-12 Months

I think that apart from regulations the main advantage of HYCM is their raw accounts. Spreads are minimal there and instead there is a commission per trade, which is only $4 per round. For traders that trade with a decent position size and don’t scalp - this is an excellent opportunity to optimize trading expenses.
 
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
 
Malodir,
Singapore, Singapore,
Feb 10, 2020,
Guest

Very porfessional approach

Service use: Live

Length of use: 0-3 Months

I don’t have much experience in trading to claim that HYCM is the best of best brokers ever. However, you can tell this is a reliable partner from the first glance at their website. I was pleasantly surprised by the fact all the legal info is given at the bottom of every page and every potential customer can feel free to check the given licenses numbers and verify HYCM is regulated as stated by the most authoritative companies of the world. I’ve made sure all this information is truthful, because I was told thousand times that forex trading is only possible to be successful with a truly reliable brokerage. This is why I’m paying this much attention to these details.
Another good experience was that I left my email address through the contact form at their site and I only received the answer to my question by email, no further spam, which I appreciate a lot. If you have many question I would suggest contacting assistant through online chat during regular working hours (they only have a chat bot at night time and on the weekends). It’s much faster. Anyway, this was a very pleasant experience of opening an account and I hope my trading experience is not gonna be worse. All is good so far, but its only been 2 weeks since I’ve started, so too early to make final conclusions about that yet.
 
Himanshu Naidu,
Chennai, India,
Feb 7, 2020,
Guest

A+ regulators

Service use: Live

Length of use: 6-12 Months

I think the list of regulators that have approved HYCM speaks for itself. CySEC and FCA don’t risk their reputation for no reason. Broker is totally reliable and trustworthy. I also think that trading conditions on raw accounts are very nice here. The only problem that I’ve ran into was that live operator in support chat is not available 24/7, but if you don’t mind - I totally recommend HYCM for excellent spreads and regulations!
 
Dubai, United Arab Emirates,
Sep 30, 2019,
Registered user

Scam Broker - Not refunding my Proft

Length of use: 0-3 Months

This Broker is scam and after closing my account as I mentioned early without any notification and now saying we are not going to refund the profit, and will only refund the deposit amount what the hell is this if we are in profit they will not refund our money our asset.
Account Manager call and said this is company policy and do whatever you can do, company is a boss and we can close anyone account and can do anything. Please suggest what is a best platform to raise a complain against them for taking up my profit which is my asset they are holding and I have all the proves to share.

Sep 13, 2019 - 1 Star Suddenly deleted my account and refunded my amount, when I check with try to reach Account Manager he said now it is closed we cannot do anything.
It happened because my submitted and verified documents get old and they want the new verification documents. So it mean they want every year new documents to verify the client ???.
AM did not call me about the issue nor even send final email that we will close the account if you do not provide the documents by xyz date/time and they suddenly close my account and refund the amount. What the shit is this so unprofessional attitude
they do not even bought to suspend 1st and then delete/close account they directly close the account and attitude of AM is totally not supportive and accepting their mistake.
  1 trader has found this review helpful
Reply by HYCMTeam submitted Dec 11, 2019:
Dear Client,

We would like to bring to your attention the fact that, in order to comply with the applicable Laws and Regulations as well as the Company’s policies and procedures, the Company conducts an annual monitoring of its clients and may ask for additional documents to be provided where necessary.

When you registered an account with us, you accepted the Company’s Terms of Business, Customer Agreement as well as all Company policies. As per the Company’s Customer Agreement, the Company has the right to terminate this Agreement if the Client fails to observe or perform any provision of the Agreement.

Best regards,
HYCM Team
James,
Manchester, United Kingdom,
Aug 5, 2019,
Guest

Great Broker

Service use: Live

Length of use: over 1 Year

Have traded with HYCM for a few years now and have never had any problem with slippage, spread widening, or stop hunting (all subversive tactics many other brokers use and I have experienced with other brokers).

My account manager is super helpful and I have never had a withdrawal problem, which takes around 3 working days (I am in Europe). People complaining here about withdrawal times do not understand how banks work. Any broker will take 3-5 days to withdraw unless it is PayPal which most do not offer.
 
Toronto, Canada,
Jun 24, 2019,
Registered user

Scam broker

Service use: Live

Length of use: 0-3 Months

I can not get my withdrawal $2000 back to my Card therefor the they promise process within 7-10 working days.
They take your money very quickly within 1 minute, but when you withdrawal you will have a problem.
Spreads are really so high so not acceptable for trading.
I will never go back to HYCM so one is not reliable. I am not satisfied this broker.
Be aware from HYCM.
 
Reply by HYCMTeam submitted Jun 26, 2019:
Hello Alexkf,

I am sorry to hear you are having issues with you withdrawal. Please be aware withdrawals can take either up to 1 hour or 5 business days depending on your chosen method of withdrawal.

Please contact your Account manage and they will update you on the status of your withdrawal.

Many thanks,
HYCM Team
Mississauga, Canada,
Apr 8, 2019,
Registered user

Scam Broker

PLEASE ALL PEOPLE STAY AWAY FROM THIS BROKER. This broker does not keep winners. If you make good profit and once you get detected, they will close your account immediately and return your funds back without any explanation.

They did not have to say that they did not have to say that they did not have to answer. Its because there is no reason, they do not keep profitable traders.

I had to fight with them for days to get my balance back to my bank account. STAY AWAY from them.
 
Reply by HYCMTeam submitted Jun 24, 2019:
Hello SamGamage,,

Firstly, I am sorry to hear you feel this way. Please note that HYCM is a fully licensed and regulated CFD trading company as you can read on our website.

It sounds like your issue was resolved and you received your balance. If there is any outstanding issues please contact our Support team at support@hycm.com and they will gladly assist you.

Regards,
HYCM Team
PANOS,
Greece,
Mar 21, 2019,
Guest

I received the 50 euros via neteller. Maybe their skrill withdrawal processor has problem

Feb 4, 2019 - 1 Star its been 1 month they dont refund me about 50 euros providing as an excuse that the skrill number is not correct so they cannot process the withdrawal, and they are asking me again and again my already given correctly skrill details
 
Reply by HYCMTeam submitted Jun 24, 2019:
Hello Panos.

Has the issue with the 50 euros been resolved? If there is any outstanding issues please contact our Support team at support@hycm.com and they will gladly assist you.

Regards,
HYCM Team
Melbourne, Australia,
Nov 15, 2018,
Registered user

Scam Alert on this broker!

Made $11,303.84 USD profit with them only to have it wiped overnight with no explanation.

These were manual trades placed.

More. Community discussion of this issue >>

  1 trader has found this review helpful
Reply by HYCMTeam submitted Jun 24, 2019:
Hello Ixboston,

Please note that HYCM is a fully licensed and regulated CFD trading company, as you can read on our website. HYCM reserves the right to close client accounts without providing notice.

If you wish us to thoroughly review your case please contact our Support team, via chat on our website or email support@hycm.com, as we strive to improve our services and provide the best trading experience possible.

Best,
HYCM Team

Ukraine,
Nov 15, 2018,
Registered user

I get my money back.
6700951.

Thank you, i dont have any claims to the company now.

But I dont understand why my account was blocked. I didn't even have time to bargain

Nov 8, 2018 - 1 Star HYCM was close my account, and 2 week i cant get my deposit back.
2000USD.


MT4 username
6700951

HYCM, please, give me my money back!
 
Reply by HYCMTeam submitted Jun 24, 2019:
Hello SantaFe,

Please note, according to the customer agreement, HYCM reserves the right to close client accounts without providing a reason.
I’m glad to hear your issue was resolved in this case, and you received your deposit.
If you need anything else please contact our Support team at support@hycm.com and they will gladly assist you.

Regards,
HYCM Team
Russian Federation,
Nov 6, 2018,
Registered user

Terrible broker

Terrible broker. They disabled trading with EA on my account (FCA regulation) and closed my colleague's account without any reason (No regulation).
  1 trader has found this review helpful
Reply by HYCMTeam submitted Jun 25, 2019:
Hello Dzaga_2,

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

If your colleague would like us to thoroughly review their case they should contact our Support team, via chat on our website or email support@hycm.com, as we strive to improve our services and provide the best trading experience possible.

Regards,
HYCM Team

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