HYCM Review: All About Hycm.com and Why It’s a Good Choice
Finding reliable brokers can be a real struggle, especially if you are a new trader without any prior experience. Our HYCM review will tell you everything you need to know about the broker so you can decide whether or not they are worthy of your investments. Just like CommSec, HYCM offers secure trading for traders all around the world.
A reliable broker like HYCM caught our attention because it’s regulated by multiple authorities, transparent in their fees and operations, and previous experiences from other traders just confirmed their reputation. Find out everything there is about HYCM by reading on.
Who Is HYCM? All About Hycm.com
With its main office in the London, HYCM is a component of the HYCM Capital Markets Group, a global conglomerate with a 40-year history in industries like financial services, real estate, and philanthropy. Over 15 accolades, including Best Forex Broker Europe, Best Forex Broker Dubai, and Best Mobile Trading Platform, attest to the company’s reputable history in the market.
The broker now has offices all around the world, including the United Kingdom, Cyprus, Dubai, Hong Kong, and the Cayman Islands. The HYCM Kuwait office opened additionally, which makes it the last office the broker has. The HYCM alliance focuses on advancing trading expertise through collaborative innovation and strategic partnerships.
|HYCM||Reliable Broker Must Have|
|Legal name||HYCM Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation||Regulated by the FCA, CySec, CIMA, DFSA||Within your legal jurisdiction – local regulator|
||Your country or the country whose license applies in your legal jurisdiction|
|Established||1977||The older the domain – the higher the possibility the company is trustworthy|
|Website||hycm.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
|Contacts||+44 2088167812||Phone, email, social media, web form|
|If a withdrawal is possible||Yes||Yes|
||Transparent fees – list of spread and commissions|
|If Active on Social Media||Yes||Often present on social media|
|Investor Protection||Yes||Compensation fund|
The HYCM kw company was established in St. V & G with incorporation number 25228 BC 2018. The FCA has authorized HYCM Capital Markets (UK) Limited, reference number 186171, to conduct investment business as a Principal.
The company’s European activities, HYCM (Europe) Ltd, are governed by the CySEC and have been permitted to function as a Cypriot Investment Firm (CIF) and offer investment services under license number 259/14.
The Cayman Islands Monetary Authority (CIMA), reference number 1442313, also oversees the regulation of HYCM Ltd. The Dubai Financial Services Authority (DFSA) oversees the United Arab Emirates-based company HYCM (DIFC).
For both professional and retail clients, HYCM is authorized to transact in Contracts for Difference (CFDs), Rights to Interests in Investments, Rolling Spot Forex, and Contracts under the aegis of these jurisdictions.
HYCM Broker Profile
The HYCM MT4 and MT5 platforms allow you to trade with forex, stocks, metals, cryptocurrencies, indices, commodities, and CFDs on stocks. The maximum HYCM leverage is 1:500 for forex, 1:20 for CFDs on stocks and cryptocurrencies, 1:200 for indices, and 1:133 for commodities. All you need to do to become a HYCM trader is to deposit a minimum of $100 or try the broker’s services with $50,000 in virtual funds for the HYCM demo account.
The HYCM spreads start from 0.1 pips for the Raw account and the commission charged is $4 per round turn. The Fixed and Classic accounts charge no commission, and spreads are 1.5 and 1.2 pips. The broker charges low fees, provides competitive spreads, and is regulated, providing safety to their traders. Both MT4 and MT5 platforms are available as a HYCM app for desktops and mobiles.
|Trading Platform||MT4, MT5|
|Account Types||Fixed, Classic, Raw|
|Financial Instruments On Offer||
|Commissions/Bonuses||$4 per round turn commission for the Raw account/Welcome and referral bonuses|
|Demo account||$50,000 virtual funds|
|Education or Extra tools||Webinars & Workshops, Seminars, Calculators, Economic Calendar|
With the HYCM Affiliate program, you can earn a $200 cash bonus for each referral who opens an account and deposits at least $500, however, they must trade 3 lots. Furthermore, a 10% first deposit bonus can be earned, which will be added automatically to your account when you commence trading activities. However, this refers solely to HYCM Limited regulated under the Cayman Islands Monetary Authority. The HYCM no deposit bonus policy applied for the Raw account, however, the new promotion of 10% applies to all account types.
Is HYCM Safe To Trade With?
HYCM forex broker is regulated, transparent, and upholds its reputation since 1977. It is one of the best choices in the market today and they earned our recommendation. You can trust the broker with your investments and trade safely and with peace of mind. Since they are regulated by one top-tier authority, the FCA, some traders are entitled to a compensation fund if something happens with the broker, making trading at least a bit easier.
The HYCM trading platform complies with the stringent security requirements of global financial and banking institutions. The group has consistently prioritized the protection of client information during more than 40 years of operation. HYCM is one of the rare brokers that are a great choice, however, it is possible that the broker is not suited for you. Reach out to us today and we will find brokers like HYCM but they will be tailored to your preferences.
HYCM Review: Traders’ Thoughts and Opinions
The HYCM Trustpilot reviews speak for themselves, giving the broker an overall score of 4.5, with over 218 reviews. The majority of the reviews are favorable, praising the broker and their business, while 7% of the negative reviews focus on some profit issues and the HYCM stock price for Pinterest. One person posted 3 reviews regarding the same problem, so we decided to quote him:
“I opened several deals with the shares of the “Pinterest” company in the aforementioned HYCM company. I closed my positions with a profit of approximately $ 43,000. Then I made two withdrawal requests for 9,200 euros and 1,265,000 rubles. My withdrawal requests were canceled, and my profits were canceled. Then this company sent a letter in which it accused me of violating some rules and said that they were breaking contractual relations with me. “
Overall, the company stands good with everything so far, including regulation, transparency, and reviews, which are key reasons to look out for when choosing a broker. Just like FXCC, HYCM has an outstanding rating on Trustpilot, and we recommend the broker for traders of all types.
A Look at HYCM’s Traders They Serve
The broker has been in the market since 1977, so attracting clients can’t be a struggle. With so many years of experience behind them, multiple regulations, transparency, affiliate program, and reasonable bonuses, they make a great choice for both beginners and seasoned traders.
The majority of the broker’s clients are from the following nations:
- United States
- United Arab Emirates
- United Kingdom
Deposits and Withdrawal Methods
You can make a deposit via Visa or Mastercard, Skrill, Neteller, China Union Pay, Interac, or wire transfer, depending on your region. The broker also accepts virtual cards. Profits can only be transferred to your bank account through wire transfer, and they must be in the same name as the account that HYCM has on file. For withdrawals via wire transfer of less than US$300, a handling fee of US$30 will be charged. As soon as you create an account at my HYCM, you can deposit your money and start trading.
HYCM Pros and Cons
Long Story Short – HYCM
Low HYCM deposit minimums and safe account funding options are alluring features, especially for traders new to online trading. Aside from the option to utilize fictitious money on practice accounts, numerous instructional resources may also make trading simpler. When choosing a broker, reading about good experiences with other traders will help you make a more rational decision.
Overall, HYCM is a trustworthy broker worth your time and confidence, similar to TIO Markets, with excellent trading conditions and lots of opportunities to develop your own trading strategy. Get in touch right away if you want more trustworthy options to take into account. Making one phone call is all it takes to get started on a secure and successful trading journey.
Is HYCM a good broker?
HYCM has been a reputable broker since 1977, with a proven track record and traders’ experiences.
What are the different types of accounts in HYCM?
The account types HYCM offers are Fixed, Classic, and Raw. Each offers different spreads and the main thing is that for the Raw account, spreads start from 0.1 pips but a commission of $4 is charged.
Is HYCM regulated?
Yes, HYCM is regulated by Cysec, the FCA, CIMA, and DFSA.