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

Jacky To,
Dubai, UAE.,
Sep 26, 2007,
Guest

Recenlty opened an account with HYmarkets.com. Few comments so far as I didn't trade much yet.

- Customer service is very helpfull, they called and answered all my questions.
- Site is a bit slow but at least it picks up after Internet Explorer downloads most stuff on your cache.
- Mini account spreads are a bit on the high side but I upgraded to Standard account which is more reasonable.
- Strong point is that they give you the option to trade all capital markets not just FX which is interesting.
- Parent company regulated by FSA in the UK

I will add more comments once I trade a bit more
 
Josh ,
Abu Dhabi,
Oct 3, 2007,
Guest

Pure scam, they take a huge trading fee out of you. Dishonnest broker, I suggest you guys stay away from this one.
 
Santiago Velasco,
Mexico,
Nov 7, 2007,
Guest

This is a SCAM they debited out of my credit card, and when I click return they did not return the money to my account, the live support is a scam, I have opened tickets with different accounts and they all get the same ticket.

Havent got any response from the support staff.
 
Yoann Grillet,
UAE,
Nov 8, 2007,
Guest

Very good customer service. My account manager is always so there when I need her.
Great spreads for premium account or VIP account. All other accounts seem reasonable although I didn't trade with those accounts.
They charge no commision and no fees on deposits or withdrawals which is sometyhing I never came across before in any broker. No hidden costs no hidden fees.
Plus they are regulated and the group has been around forever. This makes me feel much more comfortable :)
 
Lana Khaleel ,
Dubai UAE ,
Apr 10, 2008,
Guest

I have very bad trading with them , them site is hanging , they tkin high spreads , it would reacg 18 in some crosses . When i tried to withdraw money , they will not send your money , But they deals and talkes nicely with me , SCAM needs nice language and polite way :) Thanks God I started with 1200 USD , I lost 529 USD , I tried to withdraw 671 USD but till date ( 70 days ago) till date they didnt send it to my ACC . So I lost all but I am happy that I didnt lost more :)
 
Christine Azuley,
Abu Dhabi (The offices of HY Markets),
Nov 21, 2008,
Guest

I am always surprised when I see "anonymous" people posting bad things about a broker who is licensed and regulated and been operating for more than 30 years. It just makes me realize how low some people with bad intentions can go.
I have an account with HYmarkets and I also have lost some money over the last few months, but this is not the brokers fault. I open and close my own positions, they just give me access to the platform. How can I blame them for my trades? Yet I see that some people do.

In all, HY Markets is an excellent service provider, their customer service team does a great job and they are always available to help when I face an issue of have a question. Plus they are one of the few platforms that allow me to trade all capital markets and not just Forex.

This is a five star company

Review Moderation Team Note: 5 Star Rating removed.

This review was left from inside the offices of HY Markets.

The FPA does not appreciate review spammers.
 
Edd,
London,
Dec 3, 2008,
Guest

What a waste of space and a total rip-off. $40 commission on each lot traded and a spread of up to 15 pips on some crosses, and this is during normal trading. Re-quotes and slippage will leave you in a spin, trades are usually held on their servers for a few vital seconds before execution. You'll always be saying WTF each time you execute a trade. They are having a laugh. Or maybe the joke is on whoever opens a live account with them.

I don't know if its a scam but I would advice all to run the other way.
 
Tim,
london,
Jan 2, 2009,
Guest

complete rip offf as i did not read any review before opening a live account with hymarkets .(scam)
i would strongly recommend that all innocent traders stay away as i am about to get my money back from hymarkets (hopefully).
spreads are up to 15 during trading hours as i was told about 3 pips on premium account .
Trades are usually held on their servers before executionand you would consider your self lucky if execution is successful, customer service is polite be useless. some one will be lucky if make money by trading with hy markets .

They need stupid doumentaion just an execuse to delay the withdrawl . plz plz think 5 times before trading with hy ...
 
Thomas Ng,
Hong Kong SAR (Offices of HY Markets),
Feb 22, 2009,
Guest

Hey Tim from London .... Are you high?

An FSA regulated broker asked you for documentation and you think thats weird? LOL

You better stick to trading with companies that don't ask for documents and i am sure you will do very well. There are a lot of companies that would love to take your money and run away with it and not ask for any documents ...

The rest of us will continue trading with regulated companies that need documentation as per the FSA.

HY MARKETS is an excellent broker and they are doing a fantastic job and provide great service. They don't ask for all the documents up front and allow you enough time to put together every document required by FSA and send it to them. They let you trade in the meantime but they must collect all the document within a certain amount of time. Look it up.

Review Moderation Team Note: 5 Star Rating removed.

This review was left from inside the offices of HY Markets.

The FPA does not appreciate review spammers.
 
Serfin,
canada,
Nov 14, 2009,
Guest

I like hy markets my money feels safe with them ive used them now for 2 years and had no problems. The withdrawl time is a little slow but no fees. I like their charts I would sugest this site to anyone.
 

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