HYCM Review

3.025 · 80 REVIEWS

Formerly HYMarkets.com

Updated: Aug 13, 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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3.025 · 80 REVIEWS
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Traders Reviews

Muhammed Aamir,
Singapore, Singapore,
Nov 30, 2012,
Guest

This is an update :

I am an affiliate of another Australian broker, which i will not reveal since this page concerns HY Markets only. The level of professionalism of my new affiliate manager far surpasses the likes of Noreen Muyco. (HY Market's affiliate manager)

I would also like to thank the admins/mods who uncovered the truth behind my previous message and indeed confirm the inaccurate reviews here posted by Noreen Muyco, (whom obviously even my grandma knows more about marketing than her)

I will be putting in some effort to spread the word about this company, thanks to the admins/mods efforts.

*I am not giving any stars for this review as this is an update

2012-04-02 1Star Big scam. The affiliate manager Noreen is very unprofessional. Worked for one month, at the end of the month was informed that she would send over $4000+ worth of commissions. Then 1 hour later said that sorry a report just came in and my clients were only worth $1000, big scam.

She is known to use psuedo-names to comment on review sites to reflect positively on hy affilaites, like some comments here, which i daresay is very similar to Noreen’s english.

Source : Experience as a HY Affiliate and collected more than $200,000 worth of commissions from them.

 
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!
 
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 :)
 
Ryan,
Gauteng, South Africa,
Dec 22, 2014,
Guest

Well if anyone need to know whom you dealing with. please visite: http://www.fca.org.uk/news/warnings/hy-markets-clone

Review Moderation Team Note: According to the FCA, the real, regulated HYMarkets operates from these websites...

www.hymarkets.com
www.henyepmarkets.com
www.hyinvestment.com

Beware of anyone claiming to be from HY Markets that operates from any other websites.

 
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
Mohamed Refaat,
Egypt,
Jan 12, 2011,
Guest

i have an account with them ,
withdrawal is OK (about 5 working days)
deposit is fast with credit card (on time)
 
HY Markets Team,
, United Kingdom,
Dec 4, 2012,
Guest

The HY Markets team would like to discuss any issues directly with traders who have posted negative reviews on this forum.

HY Markets takes the issue of customer service and complaints very seriously and as such would like to discuss these issues with those who have posted within this forum.
HY Markets has a specific procedure to follow should clients have a complaint.

If you have a complaint, first please contact your Account Manager. They will review the matter and try to find a swift resolution to any issues you have.

If you would like to escalate your complaint please send an e-mail with the details of your complaint to complaints@hymarkets.com
HY Markets would like to remind viewers of this forum that we are regulated by the Financial Services Authority (FSA) in the UK.

We are strictly regulated and monitored to ensure clients are fully protected and complaints dealt with as a priority.

You can also view the complaints FAQ page on our website. http://www2.hymarkets.com/english/support_faq.html

Should you have a complaint or feel dissatisfied by the service you have received then please follow the instructions highlighted in this post.

For general enquiries please e-mail info@hymarkets.com or call us on + 44 - 208 - 816 - 7812.

Regards,
The HY Markets Team.
 
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
 
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.
 
A Coruna, Spain,
Oct 23, 2017,
Registered user

I am trading from Spain currently. True on the spreads you say, but until now I didn't have any problem while trading with this company!
 

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