HYCM

The Forex broker HYCM (HY Capital Markets) was founded in 2007. It’s a member of Henyep Capital Markets LLC, which is one of the oldest financial institutions, successfully operating in international markets for up to forty years. For such an impressive period of activity, the holding has reached a leading position in terms of the number of clients and the turnover of trading operations.

Of course, you’d like to know whether HYCM is a legitimate company or if it’s untrustworthy. We’ll explore this further below.

The 40-year successful experience of the holding makes it possible to consider it a leader in the market, so the financial group has an impeccable reputation. A crucial factor in its success is the constant development, the use of innovations, high-quality service. As a subsidiary of the holding company, HYCM specializes in online trading and investing using international currency and stock markets.

The platform users are offered a variety of investment tools: currency pairs, energy carriers, precious metals, stocks, indices, and commodities. Traders can take advantage of 24-hour qualified support in several languages, loyalty programs, competitions, competitions, trust management, and PAMM-accounts. You can utilize the economic calendar, news, graphics, and Currency converter.

For the beginning players of the exchange free training materials are provided on the website. The company offers a wide range of trading platforms: the popular Metatrader 4; their own product: HY Webtrader (with a powerful information-analytical section and the function of deposit replenishment); HY MT4 Webtrader (an advanced MT4 platform); HY Pro Trader (for professional traders and investors, it provides direct access to stock quotes), as well as their mobile versions. To test the broker’s capabilities, you can use a free demo account.

Replenishment and Withdrawal of Funds

HYCM offers not so many ways of withdrawals and replenishment of funds. In order to replenish the account for trading, it is necessary to go through the registration procedure with the broker, deposit the amount, choosing a convenient method of transferring funds (the minimum deposit is $100). To deposit funds traders can also use up-to-date payment systems – from conventional bank cards to electronic payment systems:

• Bank transfer;
• Credit bank cards;
• Electronic payment systems Skrill, PayPal, Webmoney.

The account is opened in USD or EUR. The money is immediately available on the account for trading after the payment is made. The withdrawal of funds is possible only for authorized traders, it’s carried out within 4-8 business days (bank transfers) or instantly (electronic payment systems). All payments through electronic payment systems are carried out without commissions. The bank transfers have commissions, but on the official website, you can find a list of partner banks, cooperation with which will reduce these costs.

Complaints About HYCM

HYCM was represented not so long ago, therefore, there are still a few comments, but they are diverse enough. Some traders positively note the reliability of the company, which is in a holding with such a long work experience, the convenience of the trading platform, the real help of training materials and trade signals, prompt support and timely withdrawal of funds.

There are also negative moments actively discussed in the network: disadvantageous terms of trade and bonuses, discrepancies in quotes, the support service does not always respond to requests, permanent failures and delays of the terminal, which lead to significant losses, part of the information on the website is presented in English, limited means of withdrawal. To avoid negativity while working with the broker, completely verify the account, and ask the personal manager for the features of using bonuses and the withdrawal procedure.

You can say that HYCM is quite successful in the financial services market, it has the most serious intentions. Despite the fact that there aren’t many reviews, there is something to pay attention to, and like any broker, HYCM has negative moments in its work. We hope that the company plans to track them for the purpose of improving its service.

If there are complaints about HYCM, we will certainly publish information in social networks. Sign up to stay up to date with the news.

Is HYCM a Scam?

HYCM has been operating for not so long ago, therefore it is noticeably inferior to the market leaders. Holding Henyep Capital Markets LLC, to which the broker belongs, has existed on the market for 40 years, and it’s rightly considered to be one of the most experienced and professional companies. It keeps working successfully, taking into account modern trading trends. The company is represented all over the world. It has a large base of traders and continues to develop. It increases trust in HYCM and indicates that we aren’t dealing with a one-day broker or a fraudulent structure.

One of the greatest advantages of HYCM is the provision of quality service: trading is possible both in the reliable terminal of MetaTrader 4 and in its own convenient web trading platform. The development of its platform is a serious step, that needs significant investment, so it proves that HYCM plans to enter the market firmly and to find its audience. However, you should pay attention to the fact that the Internet currently offers different feedback on the platform: both positive and negative. With few reviews, it’s too early to make concrete conclusions as to the convenience of the service. Additionally, it makes sense to be more careful and also to test the system beforehand for probable glitches.

We also note again that the minimum of comments can be explained by the recent arrival of the company on the market, which means that traders still have to become acquainted with the broker’s capabilities. Another advantage is the availability of a high-quality informative website (the license regarding the regulator, terms of trade, the company’s history, its awards, training materials, etc.), bonuses, and partner programs – all of this demonstrates the company’s serious intentions in this sphere. Sure, it’s not typical to scammers. The organization has several licenses, which makes working with it safer and safer.

Do you still consider it to be a scam? At the moment, the answer would be negative. Belonging to a serious financial holding, which has traders around the world, proves it. If you want to avoid problems with the broker, work with the personal manager properly. You need to specify the necessary information about the rules of the system, the features of using bonuses, and the procedure for withdrawing funds.

The Broker’s Regulator

HYCM is a member of Henyep Capital Markets LLC, which provides financial and investment services based on a license from the UK Financial Regulation and Supervision Authority (FSA, license No. 186171). The broker is also accredited by other financial supervisory authorities: SFC (AAD534), MiFID, and CySEC (259/14), which is substantial evidence of its transparency. It guarantees the reliability and security of trade.

Check the HYCM license on the FSA website
Check the HYCM license on the CySEC website
Check the HYCM license on the SFC website

Bonuses on HYCM

Each trader of the company can receive 2 types of bonuses:

1) The 25% bonus

It’s a special broker bonus for deposit replenishment. To take part in the action, it is necessary to replenish the account by at least $1000. Newcomers can join this program. Be sure to specify the conditions for participation in the program from the personal manager.

2) The program “Refer a friend”

The program was developed by HYCM to reward customers for support of the company and actively referring it to their friends. So, if a friend after the recommendation will actively work on the platform, open a real account and start earning, the trader will receive a bonus of up to $250.

Conclusion

HYCM successfully provides online trading services. It’s a member of the largest financial organization Henyep Capital Markets LLC, which has been operating for about 40 years. Special attention should be paid to the professionalism and impressive experience of the holding, its representation around the world and the availability of a large base of traders.

HYCM is licensed. It provides a quality web product, and unique services. The company keeps developing, following modern trends in trading in financial markets. Besides positive reviews, there are also negative ones, and it indicates that the company has something to work on.

HYCM позиционирует себя как настоящий профессионал, поэтому на данный момент мы не будем относиться к ней как к мошеннической компании. Однако ответы трейдеров, которых мы ждем в этом обзоре, не только повлияют на рейтинги брокера на веб-портале, но и предупредят участников рынка о различных проблемах.