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Score

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.
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0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

HYCM

United Kingdom|Above 20 years|
Market Making(MM)|MT4 Full License|Regional Brokers|Suspicious Overrun|Medium potential risk|Offshore Regulated|

https://www.hycm.com/en

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

HYCM-Demo

Singapore
MT4
14

Influence

A

Influence index NO.1

United States 4.83
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

14
Server Name
HYCM-Demo MT4
Server Location Singapore

Influence

Influence

A

Influence index NO.1

United States 4.83

Surpassed 13.59% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 2088167812
cs.cn@hycm.com
https://www.hycm.com/en
27-28 Clement’s Lane, St Clement’s House London EC4N 7AE United Kingdom

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
HYCM
CCC
NSFX

Danger

MY SCM
2021-01-01

Contact number

English

+44 2088167812

Chinese (Simplified)

+44 2071933827

Broker Information

More

Company Name

HYCM Limited

Company Abbreviation

HYCM

Platform registered country and region

United Kingdom

Company website
Twitter
Facebook
Instagram
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts 3
Previous Detection : 2024-05-18
  • This broker exceeds the business scope regulated by Cayman Islands CIMA(license number: 1442313)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The Cayman Islands CIMA regulation with license number: 1442313 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

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Expose

    Total Margin Trend

    • VPS Region
    • User
    • Products
    • Closing time
    • Bangkok
    • 958***
    • XAUUSD
    • 05-17 16:00:17
    • Singapore
    • 383***
    • XAUUSD
    • 05-17 15:46:36
    • Taipei
    • 777***
    • XAUUSD
    • 05-17 14:43:20

    Stop Out

    1.96%

    Stop Out Symbol Distribution

    6 months

    Sources

    HYCM · Company Summary

    Registered in United Kingdom
    Regulatory status FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands
    Year(s) of incorporation more than 40 years
    Market instruments more than 40 currency pairs, precious metals, commodities, indices, stocks and cryptocurrencies
    Minimum initial deposit $100 y $200
    Maximum leverage 1:500
    Minimum spread From 0.1 pips
    Trading platform MT4, MT5
    Deposit and withdrawal methods bank transfers, credit and debit cards, Neteller, Skrill, perfect Money, etc.
    Customer Service E-mail/phone number
    Fraud allegations Not yet

    It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

    Pros and cons of HYCM

    Pros:

    • - Wide range of financial instruments available for trading.

    • - MT4 and MT5 trading platforms available, as well as a proprietary platform called PrimeTrader.

    • - A free demo account is available for traders to practice without risking their real money.

    • - Multilingual customer service available 24 hours a day, 5 days a week.

    • - HYCM offers an Islamic account for traders who require an interest-free account.

    • - Regulation by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands.

    Cons:

    • - The minimum deposit of $100 may be high for some traders.

    • - The company does not accept traders from the United States.

    HYCM General Information and Regulation

    Advantages Disadvantages
    Registered and regulated by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands. Registration and regulation in multiple jurisdictions can increase compliance complexity and costs
    A track record of more than 40 years on the market Traders may prefer brokers that focus exclusively on the foreign exchange market, rather than offering a range of financial products.
    FCA and CYSEC regulation provides additional investor protection Regulation does not guarantee security of funds and traders must do their own due diligence
    Compliance with regulatory requirements can increase transparency and accountability Regulation may limit certain operations and trading strategies

    HYCM is a UK-registered forex broker and regulated by the Financial Conduct Authority (FCA), the Cyprus Securities Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA). With a track record of over 40 years in the market, HYCM has established itself as a leading broker in the foreign exchange trading industry.

    In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

    General information

    Regulators

    HYCM is regulated by three major financial regulatory bodies: the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) and the Cayman Islands Monetary Authority (CIMA). They are all globally recognized regulators and have a high reputation in the financial industry. The FCA is known to be one of the strictest and most demanding regulators in the world, and its regulation is considered to be one of the most rigorous and reliable in terms of customer protection. On the other hand, CySEC is the financial services regulatory authority in Cyprus, a country known for its attractive regulatory and tax environment for investment firms. And finally, CIMA is the financial regulator for the Cayman Islands, a British overseas territory. Together, these three regulations offer strong customer protection and increased security for financial transactions conducted through HYCM.

    regulations

    What type of broker is HYCM?

    Advantages Disadvantages
    Offers more stable and fixed spreads There may be a conflict of interest with customers
    Can offer faster execution Prices may be less transparent
    Can provide greater flexibility in terms of leverage There may be a risk of re-quoting
    Can offer protection against market volatility There may be limitations in the trading strategy
    Offers a non-dealing desk account (Dealing Desk) Prices may not reflect the true market

    HYCM is a Forex and CFD (Contracts for Difference) broker that offers access to a wide variety of financial markets through its online trading platform. As a broker, HYCM acts as an intermediary between its clients and the financial markets, allowing traders to buy and sell financial instruments without having to physically own them.

    HYCM operates under a Dealing Desk, which means that bid and ask prices are set by the company itself. This can be beneficial for traders looking for more stable and fixed spreads, but it also means that HYCM may have a conflict of interest with its clients. To mitigate this risk, HYCM offers a Dealing Desk trading account, which allows traders to trade at direct market prices.

    Market instruments

    HYCM offers its clients a wide variety of trading instruments, which means that traders can trade in different markets and have a greater diversification of their portfolios. In terms of currency pairs, HYCM offers a selection of the major and most popular pairs, such as EUR/USD, USD/JPY, GBP/USD, and many others. In addition, traders can also trade a variety of precious metals, such as gold and silver, and commodities such as crude oil. A selection of indices is also offered, including the S&P 500, the FTSE 100 and the Nikkei 225. HYCM also offers its clients the possibility to trade stocks of some of the world's largest companies, such as Apple, Microsoft and Amazon. Finally, HYCM offers the option to trade cryptocurrencies, including Bitcoin, Ethereum and Litecoin. This means that traders can have access to some of the most volatile and exciting markets in the world, which can provide unique trading opportunities and potential profits.

    market instruments

    Spreads and commissions for trading with HYCM

    1. HYCM charges variable spreads for its operations, which vary according to the type of account and trading instruments.

    2. HYCM charges an inactivity fee of $10 per month after 3 months of account inactivity.

    3. HYCM charges a commission of $4 per side for raw account transactions.

    Trading accounts available at HYCM

    Advantages Disadvantages
    Fixed Account: Offers floating spreads from 1.5 pips and does not charge commissions. Spreads are less tight compared to the Raw account.
    Classic account: Offers spreads from 1.2 pips and does not charge commissions. Spreads are less tight compared to the Raw account.
    Raw account: Offers spreads starting from 0.1 pips and charges a commission of $4 per lot traded. It has a minimum deposit of $200, which can be inconvenient for traders who want to start with less capital. In addition, the commission can increase trading costs.
    Free demo account: Allows traders to practice and familiarize themselves with the trading platform before investing their real money. There is no real risk involved in the demo account, which can make traders overconfident when trading with a live account.

    HYCM offers three types of trading accounts, with a minimum deposit of $100 for the classic/fixed account and $200 for the raw account. The available accounts are:

    Fixed account: the Fixed account offers floating spreads starting from 1.5 pips, Min. position volume of 0.01 lot and allows trading more than 300 financial instruments, including currencies, commodities, indices and cryptocurrencies. In addition, a free demo account is offered for practice and learning, as well as an Islamic account.

    Classic account: the classic account offers spreads starting from 1.2 pips and a commission of $0 per lot traded. The min. position volume is 0.01 lot and also allows trading of more than 300 financial instruments.

    Raw account: the raw account offers spreads starting from 0.1 pips and a commission of $4 per lot traded. The main difference between the raw account and other accounts is that it has a minimum deposit of $200.

    HYCM is also proud to offer a free demo account, allowing traders to practice and familiarize themselves with the trading platform before investing their real money.

    account types

    Operating platform offered by HYCM

    HYCM's MT4 platform is one of the most popular and widely used in the world of online trading, with a large user base worldwide. With this platform, traders can access multiple technical analysis tools, customizable charts, technical indicators and expert advisors (EAs). In addition, traders can use the backtesting function to evaluate the effectiveness of their trading strategies and adjust them as needed.

    On the other hand, HYCM also offers the MT5 platform for those who are looking for a more advanced trading platform. The MT5 platform is an enhanced version of MT4, with more advanced tools and features. The MT5 platform also offers the hedging function, which means that traders can simultaneously open long and short positions on the same instrument, which can be useful in certain trading strategies. In addition, MT5 also allows traders to access more markets and types of financial assets, including futures and options.

    trading platform

    HYCM maximum leverage

    Advantages Disadvantages
    Possibility of significantly increasing the potential benefits Increased risk of loss
    Allows trading with a position of up to 500 times the initial capital. Trading with high leverage can lead to rapid loss of funds
    It can be useful for experienced traders with well-defined strategies. Can be dangerous for inexperienced traders or traders who do not manage risk well.
    Allows access to more markets and trading opportunities It can generate a false sense of confidence and lead to over-operating.
    Allows trading large volumes with little capital Good market knowledge and risk management are necessary for successful trading.

    HYCM offers a maximum leverage of 1:500 for currencies, which means that traders can trade with a position of up to 500 times their initial capital. This can significantly increase potential profits, but also increases the risk of losses.

    image.png

    Deposit and Withdrawal: methods and fees

    Advantages Disadvantages
    Wide variety of deposit and withdrawal options Withdrawal processing times may vary depending on the payment method and the trader's banking institution.
    Low minimum deposit amount
    No deposit or withdrawal fees
    Fast processing of withdrawal requests

    HYCM offers a wide variety of deposit and withdrawal options, making it easy and convenient for traders to deposit and withdraw funds. Traders can make deposits using a variety of methods, including bank transfers, credit and debit cards, popular e-wallets such as Neteller and Skrill, and other online payment methods such as Perfect Money.

    The minimum deposit amount is only $20, which is an advantage for those who wish to try HYCM without having to deposit large sums of money. In addition, HYCM does not charge any deposit fees, which means that traders can deposit any amount they wish without worrying about additional charges.

    When it comes to withdrawals, HYCM processes withdrawal requests within 24 hours for some payment methods, which is a fast processing time compared to other brokers. Traders can withdraw funds using the same payment methods used to make deposits. There are no withdrawal fees at HYCM, which means that traders can withdraw their profits without having to worry about additional costs.

    It is important to note that withdrawal processing times may vary depending on the payment method and the trader's banking institution. HYCM strives to process all withdrawal requests as quickly as possible, but there are factors beyond its control that may affect processing time. Overall, HYCM offers a wide variety of deposit and withdrawal options, as well as fast processing times and no additional fees, making it an excellent choice for traders looking for a reliable and convenient broker.

    deposit and withdrawal

    Education at HYCM

    One of the additional advantages of HYCM is that it offers a wide range of educational tools to help traders improve their trading knowledge and skills. This includes live webinars, online seminars, trading guides, video tutorials and much more. HYCM is committed to helping its traders achieve their trading goals and maximize their earning potential.

    educational resources

    HYCM Customer Service

    HYCM offers 24/5 customer support in several languages, including English, Spanish, German, French and several other languages. Traders can contact the support team by phone, email and live chat. They also have a FAQ section on their website to help traders find answers to common questions.

    E-mail: support@hycm.com

    customer support

    Conclusion

    Overall, HYCM is a reliable and well-regulated forex broker that offers a wide range of trading instruments and trading platforms. With its focus on transparency and security of client funds, HYCM is an excellent choice for traders of all experience levels. In addition, its wide range of educational resources and exceptional customer service make HYCM an excellent choice for traders looking to improve their skills and knowledge in the Forex market.

    Frequently asked questions about HYCM

    Question: Does HYCM offer a demo account?

    Answer: Yes, HYCM offers a free demo account for traders to test the platform and practice their trading strategies without risking their own money.

    Question: What is the minimum deposit to open an account in HYCM?

    Answer: The minimum deposit to open an account in HYCM is $100 USD.

    Question: What trading platforms does HYCM offer?

    Answer: HYCM offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

    Question: Does HYCM offer leverage?

    Answer: Yes, HYCM offers leverage for traders. The maximum leverage offered depends on the trading instrument and country regulation.

    Question: Does HYCM charge transaction fees?

    Answer: On classic and fixed accounts, HYCM charges a spread fee for its trades, which means that it does not charge commissions per trade. But on the raw account there is a commission.

    Question: Does HYCM offer educational resources for traders?

    Answer: Yes, HYCM offers a wide range of educational resources for traders, including trading courses, live webinars, educational articles and trading strategies on its website.

    Question: Is HYCM regulated?

    Answer: Yes, HYCM is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA).

    News

    HYCM Sets New Standard with Zero-Commission Stock Trading Launch

    NewsHYCM Sets New Standard with Zero-Commission Stock Trading Launch

    2023-05-17 10:29

    HYCM has introduced commission-free stock trading on its MT5 platform, offering access to over 1000 global stocks. The feature allows investors to buy fractional shares from $10, including dividend-yielding stocks. However, this is not available under HYCM (Europe) Ltd and HYCM Capital Markets (UK) Limited.

    WikiFX
    2023-05-17 10:29
    News
    HYCM Sets New Standard with Zero-Commission Stock Trading Launch
    Beware of Clone Firms: FCA Issues Warning on Henyep Markets, a Fraudulent Imitation of HYCM

    ExposureBeware of Clone Firms: FCA Issues Warning on Henyep Markets, a Fraudulent Imitation of HYCM

    2023-04-27 17:16

    The Financial Conduct Authority warns the public about Henyep Markets' deceptive practices as a clone corporation aiming to deceive investors.

    WikiFX
    2023-04-27 17:16
    Exposure
    Beware of Clone Firms: FCA Issues Warning on Henyep Markets, a Fraudulent Imitation of HYCM
    WIKIFX REPORT: US retail sales focus

    NewsWIKIFX REPORT: US retail sales focus

    2022-11-15 12:10

    This week sees the US retail sales release which is likely to cause some volatility on an out-of-consensus print. The miss in US inflation data last week resulted in immediate re-pricing of the Federal Reserve’s interest rate decision for December. After the decision short-term interest rate markets now price in over 70% chance of a 50bps rate hike. Prior to the decision, the market was expecting a 75 bps rate hike in December.

    WikiFX
    2022-11-15 12:10
    News
    WIKIFX REPORT: US retail sales focus
    WIKIFX REPORT: Timing the S&P500 & the midterm rally; does it make sense?

    NewsWIKIFX REPORT: Timing the S&P500 & the midterm rally; does it make sense?

    2022-11-15 12:06

    Going into the US midterm elections analysts were mostly split between three different positions:

    WikiFX
    2022-11-15 12:06
    News
    WIKIFX REPORT: Timing the S&P500 & the midterm rally; does it make sense?

    User Reviews

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    16

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    Write a review

    FX1668672624
    more than one year
    I tried registering, but the app isn't responding well.. when I'm trying to create a password it's saying " incorrect data " , I have uninstall nd install it but still the same thing, pls you guys should respond
    2024-04-26 19:03
    Reply
    0
    0
    jhdw
    more than one year
    To be honest, the company's software is really good. The only obstacle I face is that during financial news trading hours, the trades aren't executed in real-time; it takes 2 to 3 seconds.
    2024-03-22 15:58
    Reply
    0
    0
    ✨LL✨
    more than one year
    My experience with HYCM has been positive. The variety of trading accounts, educational resources, and platform options, such as MT4 and MT5, contribute to a comprehensive trading environment. The $100 minimum deposit might be a consideration for some, but overall, it remains a regulated and diverse choice for traders.
    2023-12-05 14:14
    Reply
    0
    0
    Judyedge
    more than one year
    Alright, let me spill the beans about HYCM. They got this smorgasbord of financial stuff – currencies, metals, commodities, indices, stocks, even cryptocurrencies. It's like a trading buffet! The cool part? You can do your thing on either MT4 or MT5, and they throw in a free demo account. Perfect for us picky traders, you know? Plus, their customer service is like your multilingual buddy – there 24/5 to chat you up in different languages. So far, so good. Feels like I got a solid trading sidekick with HYCM.
    2023-12-04 18:46
    Reply
    0
    0
    Vihaan
    6-12months
    Not bad
    2023-08-26 07:07
    Reply
    0
    0
    小卢5423
    6-12months
    I want to find an Xingye platform agent with high anti-commission. I just started learning forex trading for a while.
    2023-07-18 00:43
    Reply
    0
    0
    Jost Zeller
    6-12months
    Trading real stocks opens up new investment opportunities.
    2023-06-19 20:10
    Reply
    0
    0
    tayyab5718
    6-12months
    I had the pleasure of working with HYCM and I must say, it was an exceptional experience. From the moment I contacted them, I was impressed by their professionalism and their willingness to answer all of my questions. Believe me, folks! If you're unsure about which broker to choose for trading purposes, HYCM is the way to go! Compared to fraudulent brokers, HYCM has several years of industry expertise, making them more dependable. Additionally, they are registered and provide transparent information, which brings peace of mind and eliminates concerns regarding fraudulent activity. Overall, I would highly recommend HYCM to anyone looking for expert advice and exceptional service in the world of investments. Their team goes above and beyond to deliver results, and I am confident that anyone who chooses to work with them will not be disappointed.
    2023-06-17 01:45
    Reply
    0
    0
    Queel
    more than one year
    Trust me, friends! If you don't know which broker to trade with, choose HYCM! These brokers with many years of industry experience are much more reliable than those cloning fraud brokers, at least they are legally regulated and offer transparent information, so you do not need to worry about being scammed.
    2023-02-13 15:29
    Reply
    0
    0
    lytola42
    more than one year
    good
    2023-01-12 16:40
    Reply
    0
    1
    张宝57412
    more than one year
    I am a long-term investor I using HYCM since last year April I hold trades for 5 days to 3 months I never got overcharged just immersive! Highly recommended!
    2022-12-11 11:22
    2
    1
    1
    FX1111783864
    more than one year
    This is my first broker when I was just starting out in the forex industry. I trust this broker very much. What it gave me was not just a comfortable trading environment, but also useful trading strategies along with my trading journey. Thank you, HYCM!
    2022-12-06 17:34
    Reply
    0
    1
    milky234
    more than one year
    yes
    2022-11-18 00:06
    Reply
    1
    1
    attaullah
    more than one year
    Hi
    2022-10-19 22:33
    Reply
    1
    2
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