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Independent rating of Forex broker HYCM

2/10 (votes 100)

On-line since
1999
Country of origin
United Kingdom
Regulation
Authorized and regulated by FSA (United Kingdom)
Payment options
Credit/debit cards, PayPal, Skrill (Moneybookers), WebMoney, Wire transfer
Minimum account size
$50
Minimum lot size
0.02 lot
Leverage
1:200
Spreads
1.8 pips on EUR/USD

HYCM is based in London; and is one of the subdivisions of Henyep Group - a large conglomerate, the activity of which covers offering financial services, charity work and education.
The group is successfully in business for more than 30 years and provides its clients a direct and fast access to trading at financial markets across the world.

Comments

Author: Nalson Date: 2022-03-25 01:11:18 (UTC+3)
I recently closed my trading account in this broker, it is just over 2 weeks since I call the support team, but there is no clarity and settlement from this broker against the difficulty of my withdraw process. I join this broker almost 2 month because there are many recommendation and thousand positive review about this broker everywhere. Their minimum account size only $50 supported by 1:200 leverage so I think this is a competitive value and I can increase the profit that I get. But everything is not in accordance with the fact, the trading process full of difficulties. I've seen no reason why my money didn't appear in my account although I made more then twice withdraw request. I trusted them at the first time, because I thought they would guide me and fix the technical problem. But now nothing good to continue trading here, I think.
Author: Delories Date: 2021-12-02 05:05:56 (UTC+3)
If only the broker would fix its trading platform, then I would not have any complaint against this broker anymore. However, I have been raising the concern on the plaform for weeks now, yet the company still has not taken any action to resolve it.
Author: Vincent Date: 2021-12-01 01:43:04 (UTC+3)
I hate their way on how they treat their clients and I regret joining here. My trading experience was frustrating with this broker. It was very difficult to generate earnings because their trading is full of requotes and connection to servers is a disaster. Unfortunately, I was not able to get the money back and until now the broker said they had technical difficulties. Soon they will update me, and I wish to see money back into my account! It is almost 2 weeks and I am disappointed with them.
Author: Deran Date: 2021-08-09 03:42:20 (UTC+3)
They don't know how to solve your problems and you must wait a long time to receive a reply. I want to move to another broker. There are so many problems that occur after joining HYCM. Although I've tried to call for help customer support, but they could not help me. They retained my earnings of around $3,500 just because they thought that I was using illegal strategies but although my account was checked several times, they didn't find out something related to it.
Author: Terri Date: 2021-08-06 05:56:18 (UTC+3)
HYCM is only good at pretending but they cannot offer decent trading services. I have been with them for half a year and their platform has been malfunctioning most of the time. I waited for the technical support to do something about it but until now, it is still not working.
Author: Ritanea Date: 2021-04-15 08:39:15 (UTC+3)
I did not like my experience at HYCM because they have limited trading instruments. The platform is pretty decent but I think not being able to trade the assets that I want is not making the investment worthy.
Author: Hwang Date: 2021-03-31 01:45:05 (UTC+3)
Spreads getting high and high especially in news time. None of their services are profitable. I always incurred losses every time I placed an orders. Never be fool for what they advertised on their website. My profits got a correction today. 55% of my profits were gone for the unclear reasons. Stop wasting your money here because they are not providing what its best for clients.
Author: Nabihah Date: 2020-12-21 04:41:42 (UTC+3)
After a month of opening an account at HYCM, I also closed it. Their platform is too faulty. I am unable to open positions on the prices that I want because the platform would always lag or crash. The broker doesn't seem to be able to resolve it so I just opted to close my account. Thankfully, the company released my money right away.
Author: Timmy Date: 2020-12-04 02:11:14 (UTC+3)
I say HYCM didn't care me as well. From the start I said that I didn't really understand forex trading, about the rules and policies they had. They promised to guide me, and always respond to my emails / calls. After I put in my initial deposit of $1500, they were very unresponsive, tended to be slow and ignore me. At the end, I didn't get any education from them and my manager told me to pay for additional $100 for online education. I have been through with it because I know I can have free education with YouTube. The support is annoyingly calling me every time to push me to invest more and trade more. I can not see the inconsistent performance and no respect at all with this broker.
Author: Susan Date: 2020-08-28 04:06:22 (UTC+3)
Trading at HYCM is too costly. Their spread us too wide and most of the time, I only end up losing money because of the wide spread. It limits my opportunity to earn. I thought that I would not have a problem in the fees because their starting capital is only low. But it seems that they are still more suitable for professional traders or those who can afford larger capital.

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