| Forex broker | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | 18 King William Street, London, EC4N 7BP, United Kingdom |
| Company owner | HYCM (Europe) Ltd |
| Types of support | |
| Phone Support | |
| Languages | English, French, Spanish, Italian, German, Chinese, Arabic, Swedish, Russian |
| Terminals | MetaTrader 4, MetaTrader 5, WebTrader |
| Min. first deposit | From 100 USD |
| Brokerage commission | $4 for entering the market on Raw account |
| Lot size | From 0.01 |
| Leverage | Until 1:200 |
| Spreads | From 0.2 points |
| Free demo account | |
| Adjustable | Yes |
| Regulators | FCA№ 186171 CySEC№ 259/14 DFSA№ F000048 |
| Types of accounts | Demo, Fixed, Classic, Raw, Islamic |
| Transaction volume | 0.01 lot |
| Order execution | Market Execution (at market price) |
| Methods of replenishment | Neteller, Skrill, Webmoney, Wire transfer, Bank card (Visa/MC) |
| Withdrawal methods | Neteller, Skrill, Webmoney, Wire transfer, Bank card (Visa/MC) |
| Number of assets | 100+ |
| Types of assets | Forex InstrumentsTrade one of the world's most liquid assets Stocksshares of the world's leading companies Indexesaccess to the global stock market Cryptocurrencyearn on the movement of Bitcoin, Etherium, and Lightcoin without physically buying them Raw materialstrade in raw materials without purchasing the financial instrument taken as the basis of the contract |
| Account Currencies | EUR, USD, Cryptocurrency |
| Liquidity providers | Barclays, HSBC |
| Mobile apps | |
| Weekend trading | Yes |
| Tournaments/competitions | No |
| Trader training | Webinars, trainings, trader's guide |
| Contract Difference Commission | No |
| Swaps | Yes |
| PAMM trading | No |
| Analytics | Calculator, market news, calendar |
| Margin trading | Yes |
| Affiliate Program | Registration3 variants of the referral program |
| Advantages | Company Reliability Convenience of working in terminals Teaching materials Timely withdrawal of earnings Prompt technical support Affiliate Program Demo account |
| Disadvantages | Unfavorable trading conditions Terminal failures and delays |
| Company requisites | Legal name: Henyep Capital Markets LLC Legal address: 18 King William Street, London, EC4N 7BP, United Kingdom |
| Date of update | February 12, 2023 |
| Overall assessment | 7.7/10 |
HYCM is this a scam? Review and Customers Reviews
A 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 another fraudster or it’s worth your trust. We’ll try to find it out here 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, commodities. Traders can take advantage of 24-hour qualified support in several languages, loyalty programs, competitions, competitions, trust management, PAMM-accounts. You can utilize the economic calendar, news, graphics, 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 is represented not so long ago, therefore, there are still 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, 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 not so long ago, therefore it is noticeably inferior to the market leaders. Holding Henyep Capital Markets LLC, to which the broker belongs, exists 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 definitely increases trust in HYCM and clearly 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 own platform is a serious step, which 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 early to make concrete conclusions as for 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 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 with reference to the regulator, terms of trade, the company’s history, its awards, training materials, etc.), bonuses, 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 considering 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, the procedure for withdrawing funds.
The broker’s regulator
HYCM is a member of Henyep Capital Markets LLC, which provides financial and investment services on the basis of 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 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 in 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 in order to reward customers for support of the company and active 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, unique services. The company keeps developing, following modern trends in trading in financial markets. Besides positive reviews, there’re 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.
Reviews
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Feedback approved for publication Rate your review 000Regulated Broker with Excellent Trading Condition
HYCM is a regulated broker with decades of experience, with a strong reputation. Traders can expect excellent trading conditions, low spreads, and delivering super-efficient service.
Positive- Regulated by multiple reputable authorities, Fast execution and tight spreads, and Choice of account types for different trading styles.
Minuses- I would include additional educational resources.
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Feedback approved for publication Rate your review 1+10Reliable company
I am an old-school trader. Although according to some research, I started not so long ago.
I am glad that my broker continues to be as reliable and quality as it was when I opened my trading account.Positive- Almost every service of this brokerage is an advantage.
Minuses- There are no significant ones worth mentioning.
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Inaccurate feedback Rate your review 000Decent company
Solid forex broker with robust trading environment.
Positive- Possibility to trade with EAs and scalping. Lots of shares for long-term trading opportunities.
Minuses- support sometimes can be a bit slow
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Feedback approved for publication Rate your review 000Years and years
Trading here for almost 10 years. It’s prolly not a seamless journey, cuz I’ve been on and off trading. But everytime I came back to financial markets, I did not have to look for a broker because HYCM had not gone anywhere. It sometimes feels like they’ve been here for centuries and they will stay here… Read more
Positive- Great level of leverage
- So many forex and stocks
- MT5
Minuses- Lacks worldwide popularity
- Could be more cryptos
- No futures
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Inaccurate feedback Rate your review 000Not all that
The brokers fees are really not the best. But there are a couple of perks trading here though.
Positive- Trustworthy
- Good track record
Minuses- Only two trading platforms
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Feedback approved for publication Rate your review 000my review
HYCM has a nice educational sector with much useful information for traders with different backgrounds. There is even a live events any trader can visit.
Positive- Metatrader trading software
- educational resources
- list of assets
Minuses- website is running slow sometimes
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Feedback approved for publication Rate your review 1+10Remember the first impression
I remember the first impression of this broker when I tried its services in 2022, it was positive.
I liked accounts and platforms. Had difficulties with expert advisors, but they were resolved.Positive- I liked account types; proposed trading platforms and hycm lab of course
Minuses- it was kinda difficult to sort out with EAs trading
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Feedback approved for publication Rate your review 000Fair but not all rosy
While I have been using HYCM for a while now, I have to admit that my experience has not been entirely rosy. Although the platform is user-friendly, I have encountered some issues as the spreads are not really the tightest. Customer service is generally good though.
Positive- + Safe to use
- + Great track record
- + Good account system
Minuses- - No proprietary trading app
- - No copy trading
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Feedback approved for publication Rate your review 000Celebrating more than 5 years
Glad I found this broker waaay earlier back in the day. I have been trading what I need to trade for more than 5 years in a row. The platform works in the ideal condition and without any bugs, I don’t trade on a daily basis but I always check my portfolio and check the markets. In this regard, both MT’s… Read more
Positive- Multiple Account Types, EAs, Cryptos and Commodities
Minuses- I don't find the name very exciting.
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Feedback approved for publication Rate your review 2+10Better than I imagined
I never thought I was going to trade FX this much. Don’t get me wrong, the broker offer so much more products than FX, you can even find cryptocurrencies there, evne though I am not very much interested in them. I look for opportunities in places where others don’t look, and it is mostly the lesser known… Read more
Positive- Even the most exotic forex pairs
Minuses- Minimum trade size on forex a little bit high.
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Feedback approved for publication Rate your review 000Long time partner
Credibility is the main feature of Hycm; there’s no doubt about that. For some reason Mt4 has fewer instruments than MT5. But that’s not a big deal. They are similar like two drops of water.
Positive- regulations; competitive spreads; crtyptos
Minuses- limited assets for MT4
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Feedback approved for publication Rate your review 000I tried to write a brief reviewPositive
- presence of comprehensive calculator, several account types, fast platforms
Minuses- I'd add some more learning materials Please eliminate minimum deposit threshold
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Feedback approved for publication Rate your review 1+10A good broker for experienced traders
I’m very lucky because I not only learned about the broker from hycm reviews but I was also lucky to live in the right area. So, I took a chance to join exactly HYCM LTD (St. Vincent). The matter is that exactly this branch of the broker offers attractive leverage for currency pairs – 1:500 (I don’t… Read more
Positive- It works for decades in the industry
- It’s a licensed company
- It offers flexible trading conditions
- It offers a very good affiliate programe – HY Affliate – you can choose from several schemes
Minuses- Local regulators decrease leverage
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Feedback approved for publication Rate your review 000Broker with history
I had heard about HYCM even when I was not a trader at all. HYCM has a big history in the industry and everyone in trading community knows it.
Company provides a nice trading conditions that packed in several trading accounts with different parameters. I guess everybody can find something suitable here.
Another… Read more -
Feedback approved for publication Rate your review 000My sincere thoughts of this company
There is a lot to pay attention to.
A good kit of trading assets and trading accounts. In fact I adore when there is choice as I can choose whether I want to trade with fixed spread or with floating ones.
In addition, this broker proposes quite a fascinating learning center where you can dig out… Read morePositive- a lot actually, trading conditions, learning center
Minuses- nah, didn't notice'em
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Feedback approved for publication Rate your review 000Good trading experience
Hycm provides its clients with a big number of assets across five markets. All these assets have appealing pricing to trade on. Although you have to choose the right platform if you want to trade a particular asset.
Positive- trading platforms prices for assets
Minuses- small number of cryptos for MT4
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Feedback approved for publication Rate your review 1+10A trustworthy broker for me
It’s so good that I discovered the broker at the right time when I needed something like this very much. I mostly trust licensed veteran brokers who work in the industry for a long time. That’s one of such brokers. I also value their trading conditions a lot, in particular, the possibility to choose… Read more
Positive- A reliable veteran broker
- Fixed and floating spreads to choose from
Minuses- Metatraders only
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Inaccurate feedback Rate your review 000Safest one
Arguably, the best and the most reliable brokerage company in the industry.
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Feedback approved for publication Rate your review 000Professional industry standards
My friends and I can be considered as old in the industry, because we have been around as traders in the market for a long time. These guys are too! Their roots go way back, and currently they have got a good operation going on as I understood since I began utilizing their services. They provide all… Read more
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Rate your review 000A broker that gives you strength
First time I ran into HYCM was one of their webinars, that was suggested to me by a friend to attend and see if they know what they are talking about. I attended one and realized those guys are serious, I attended a second one, opened a demo account there, attended a workshop and got really hooked. Those… Read more
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Rate your review 000Excellent choice of assets
I liked that HYCM provides such a wide range of assets to trade on platforms. And every asset has excellent trading conditions.
When I opened account with this broker, I didn’t know that the selection was so great. So I was pleasantly surprised. -
Rate your review 000about money
funds are secured and there is no issues with data safety. in addition, the transactions are processed quite fast and I have never had a delay.
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Rate your review 000It’s quite suitable for me
For me, it’s very good that I found this brokerage company at the right time when I needed it most. Yeah, by this time, I had some extra money and intended to invest in some minors. I like to trade minor pairs in the long term. This broker offers good conditions for these instruments and that’s why I… Read more
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Rate your review 1+10Ideally suited for forex traders
HYCM has a good infrastructure suited especially for forex traders around the world, I believe. Because that is also my main focus on the market usually. They have high level of expertise and cover a lot of areas within the regulatory jurisdictions. Customer care is helpful. Cost of trading is quite… Read more
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Rate your review 1+10attentive broker
Hycm is the broker that is always ready to help you no matter what. You can literally contact them in any case and they will help you gladly.
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Rate your review 000so far so good
I guess making an account at Hycm was kind of a fluke. I remember that I was looking for a broker with a certain instruments for trade and with a long brokerage history. Because at some point I realized that a company’s record matters a lot, at least for me.
In that regard, I reckon Hycm is one of… Read more -
Rate your review 000variety of education options
Free webinars and seminars is what attracted me in the first place. I always try to learn new stuff, no matter if it’s trading or cooking and I’m a big fan of webinars in general. I must say I learned a lot from HYCM webinars.
Positive- wide range of markets; education webinars and live seminars
Minuses- small number of stocks for MT4
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Rate your review 000thinking of returning
got used to trade here and it was my last broker.
afterward, I gave up trading but thinking of returning. guess that this one will be my choice again. -
Rate your review 000Learn something new
HYCM has a nice educational sector. Here both new and experience traders can find something interesting. The information is presented clear and easy to understand.
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Rate your review 000How can I open a joint account?
How can I open a joint account?
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Rate your review 000My reasons for staying
A friend recommended this broker, but I have found many reasons to stay. As I do not trade full-time, it is critically important that I be able to operate on the go. The broker supports the MT4 trading platform, which is friendly to people like me who trade on the move. Also, funding and withdrawals… Read more
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Rate your review 000reliable broker with minor flaws
It seems as if Hycm’s strongest side is its reliability. It’s the safest place for trading that you could ever imagine. With decades of brokerage history, Hycm traders don’t have to worry about their capitals.
However I believe broker of this scale could at least provide an option for an ECN account… Read more -
Rate your review 000Usage review
I started to trade with it about two years ago. Everything is nice: conditions are more than suitable, trading plaforms include my favourite MT4, support team is quick and always ready to help.
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Rate your review 000Reliable broker
When I decided to open account with this broker, I had no idea how reliable this company is.
It might be funny, but I did opposite.
First, I opened trading account, and only then did I start to look for broker information. After reading many reviews and articles, I realized that HYCM is very solid… Read more -
Rate your review 000fixed account
I like fixed account here. It’s the best solution for my strategy. Don’t hurry and everything will be okay on the market. This is the rule of main which I comply with during trading activity.
USAGE DATE – 2022 -
Rate your review 0+10Hello! On October 28, 2020, I opened...
Hello! On October 28, 2020, I opened several trades in “Pinterest” shares at the aforementioned HYCM company. On October 29, 2020, I closed my positions with a profit of approximately $43,000. Then I made two withdrawal requests for the sum of 9200 euros and 1265000 rubles. On October 30, 2020, at about… Read more
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Rate your review 000Ordered site and article. Calculation on the...
Ordered site and article. Calculation on the stupid who want to read reviews, the text will find a couple of small negative things not critical and at the end will see the conclusion – the company is good not a scam )))). Laughing and just how people are tricked.
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Rate your review 000I like working with them. I play...
I like working with them. I play currencies and a little bit of oil. spreads are normal, in principle, everything is normal – like everyone else. they have a mobile app – that’s nice, and their platform is not bad, and mt4 too.
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