HYCM (HY Markets) Review 2020

Overall rating

Overall rating

8.1

/10

HYCM (HY Markets) Review 2020
Davis J.
Robertson A.
September 2020
Analysis of the Main Features of the Forex Broker

8.1

Overall rating

8.1

/10

Execution of orders

8

/10

Investment instruments

7.9

/10

Withdrawal speed

8.1

/10

Customer Support work

8.2

/10

Variety of instruments

8.3

/10

Trading platform

15

Position
in rating

8.1

/10

Overall rating

Trading terminals:

MT4 MT5
15

Position in rating

8.1/10
Overall rating

Trading terminals:

MT4 MT5

Summary of HYCM Trading Company

HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc.

Attention!

If you wish to benefit from the Traders Union rebates and you have an existing account with HYCM, you need to email their customer service at [email protected] to advise them that you intend to work through Traders Union (tradersunion.com) and quote 10060187.

👍 Advantages of trading with HYCM:

  • extensive experience and reliability - the company has been operating for over 40 years;
  • excellent trading conditions;
  • good liquidity;
  • fast execution of orders;
  • over 300 trading instruments;
  • 5 types of investments;
  • spreads from 0.2 pips;
  • multilingual support in 14 languages;
  • customer service in popular apps: Skype, Viber, Telegram, WhatsApp and Facebook;
  • convenient mobile platform, which is one of the best;
  • protection against negative balance.

👎 Disadvantages of HYCM:

  • customer service does not work on weekends;
  • inconvenient for scalping;
  • few opportunities for passive trading;
  • there is no cent account.

Overall

HYCM is a broker for those who value the variety of trading instruments and prompt support. The company is a suitable broker for both beginner and experienced traders who can work on both PCs and mobile devices.

Visit HYCM

HYCM Latest Comments for 2020

8
4
7

The reviews by customers of the HYCM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of HYCM published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

HYCM is quite good if you are looking for small spreads, fast order execution and relatively small slippage. I opened an account a few weeks ago and it was ready for work in almost an hour. The replenishment was also quite fast. I made a transfer in the bank in real-time and the funds were credited to the trading account instantly. I withdrew the part of my profit during the week quickly enough. HYCM is ahead of many brokers in this regard: everything is quite simple, and the support service helps quickly if a problem arises.
I now work with their affiliate program and reduced my active trading. In general, I have no problems with this company. I have recommended it to some of my friends.

HYCM is a good broker in my experience. They deal with currency pairs, precious metals, raw materials, etc. They have decent leverage. There are several types of real accounts to choose from. There is also a demo account – which I recommend beginners use it as it is very important to understand all the broker’s features.
The terminal works well, it does not freeze up and there are several options for withdrawing funds without commission. You get your money on the card within a couple of days, it is not that fast, like with others, but it is quite stable.
In my opinion, HYCM is designed primarily for experienced traders. For example, at first, I had a lot of issues when I started with this broker, but I have learned from this experience. Now I work with options and stocks.

HYCM is a reliable broker. I have not had any problems withdrawing money, the funds are kept in the cryptocurrency, and this ensures security. But I would recommend everyone to enter the market with some kind of safety net. At the moment I have been working with HYCM for about a year and a half: so far there are no complaints.
Everything is easy, clear, and transparent. I have had to contact customer support - and, although they did not answer immediately, the issues were successfully resolved. There is a significant advantage - the withdrawal of funds occurs without any problems at all, although not instantly.
I particularly like the large selection of trading tools but I dislike the size of their spread. This broker has options to divide deposits into several open accounts, and this increases my bonus.

HYCM is a licensed broker that offers good leverage. I have only traded with HYCM for a month, but I am very pleased with the support and customer service. The account was confirmed, literally within a few minutes. Withdrawal requests are working well and the execution of transactions is consistently quick. I have noticed some activities on spreads but they are not particularly significant: some brokers are doing not that well. In general, I have no issues with HYCM they are a transparent broker with convenient withdrawal methods.

At first, I found HYCM to be a good broker. I earned quite good money, starting with an initial deposit of $100. But then, to my regret, my hopes that I had found a good broker collapsed as soon as I invested $2,000. The chart does not reach a couple of points and falls sharply down just before the trade is closed. And, it not only happened once or twice but on a regular basis.
In general, it is a standard situation, unfortunately. I managed to withdraw $500 and I’m glad at least I did that. I’m not going to get involved with them anymore, even with an inactive market. The spread is getting extended, and what happens on more significant market data, it is hard to imagine. I traded here for a month and withdrew a deposit. Their withdrawals are instant and without any problems.

HYCM is a well-known broker company. Some traders consider them one of the best brokers, while others consider them one of the worst. I don’t consider HYCM a worthy broker at all. About 5 years ago, my opinion about HYCM was completely different. I worked with them for a certain time, but our cooperation did not last long. The first significant deposit of $1000 was blown up by HYCM in no time! Well, the terminal froze up a couple of times, several times the stop-losses did not work. And I was left without funds. Even when utilizing their expert advisors, there were incorrect data transfers supplied to the terminal. Specifically, short timeframes do not correspond to long ones. After contacting customer support, they refused to solve the problem.

There is a huge selection of trading tools here, they are quite diverse, not every broker has such a choice. Both day and night, the execution of all transactions is excellent, the time of day does not matter. I will probably keep on trading here. Even if I go to other trading platforms – I will work in parallel with this one! Yes, there are several high commissions for withdrawing funds, but, by and large, I like everything. I’ve been working here for over a year. Overall, trading with HYCM is quite comfortable, despite some of their disadvantages. The rate of execution is quite good, almost instant. I think that experienced traders can earn a large sum of money here.

2 3 >

Expert Review of HYCM

HYCM is a trusted partner of the Traders Union and has gained its reputation as a reliable broker with its favorable conditions that it offers for trading on the Forex Market.

HYCM offers training resources, a free demo account, as well as three types of real accounts (Fixed, Classic and Raw) with different conditions. This allows a trader to choose the best option, based on individual requirements. In addition, the company offers special conditions for corporate and VIP clients trading in large volumes. All traders are protected from a negative balance, which positively affects security.

Based on this, HYCM is suitable for both those who have just started trading and experienced traders who build their own trading strategies. The broker has been a partner of the Traders Union for many years, and during this time there have been no significant complaints about the company's work. If there are any questions and disagreements, the customer service promptly resolves them with the maximum benefit for the customer.

The company's website is simple, user-friendly. This makes it easy to evaluate and compare all the offers of the broker. Customer focus, functional service and prompt support, variety of trading tools and convenient platform allow the broker to stand its ground for so many years.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

8.1

Overall rating

8.1

/10

Execution of orders

8

/10

Investment instruments

7.9

/10

Withdrawal speed

8.1

/10

Customer Support work

8.2

/10

Variety of instruments

8.3

/10

Trading platform

Dynamics of the Popularity of HYCM
in 2019 among the Users of the Traders Union

Dynamics of the Popularity of HYCM in 2019 among the Users of the Traders Union

Investment Programs, Available Markets and Products of the Broker

HYCM is an ideal company for those who want to combine active independent trading and trading with the help of advisers. However, the broker has few investment programs. Thus, there is a possibility of automatic copying of transactions for a trader, as well as opening a VIP account with a personal manager.

A small number of passive investment programs are more than compensated by the availability of trading currency pairs, indices and futures for gas, oil and precious metals. The availability of trading stocks and futures contracts for cryptocurrency and commodities also levels this minor drawback. In addition, the company offers the opportunity for social trading, as well as the excellent affiliate programs which can help traders, influencers and novice brokers get additional benefits.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

HYCM affiliate program

  • Cooperation program. Provides for several directions of work. They have an incentive for attracting new customers, a commission after a new trader makes a deposit and another being 20% of income from profits of the trader attracted by a partner. There is also an option when a partner can receive a certain amount of reward. It depends on the size of the deposit by the attracted customer. If one of the traders attracted by a partner becomes a partner himself, you can get additional income. In addition, partners can be provided with mobile trading tools and a personal manager. Analytics is available around the clock. If a partner advertises HYCM, he can choose the amount of commission.

  • Novice brokers - IB. This affiliate program provides a multi-level system of discounts if a local office is opened in the region. HY Markets broker supports franchise partners. Free market reviews, adjustable advertising and market tools are available for customers.

  • White Labels - Our services under your brand. This program offers partners to use their website or online resource to promote the broker. The company, in turn, provides support in the development of the back office, including reporting and additional financial expenses.

The conditions of affiliate programs allow each trader to choose the best option and form their referral system, which allows for additional income.

Rebate and Discount Programs of the Traders Union for HYCM

For each transaction at HYCM, regardless of its result, the Traders Union offers the trader a rebate, which can be withdrawn immediately without any restrictions. Nothing will change for traders (customers) of the company. They will trade in the same way, replenish their account and withdraw funds, as without Traders Union. The only difference is that, in cooperation with Traders Union, they will receive additional funds, and that’s it.

For each transaction conducted at HYCM, even if it is loss-making, Traders Union will pay a rebate to a trader in the amount of 100% of the brokerage company's income per lot:

Information

Fixed - EUR / USD 9 US dollars per lot, the other pairs - 10 US dollars per lot;

Raw and Classic - EUR / USD 5 US dollars per lot, the other pairs – 7 US dollars per lot.

Example. You trade 1 lot per day. 1 lot for the pair of EUR / USD is 100,000 units of the base currency. The cost of an item for 1 lot is 10 US dollars. Spread - 2 pips. If you worked directly with HYCM, your daily spread costs would be 20 US dollars. Traders Union receives 9 US dollars and 10 US dollars per lot, 100% of this amount is transferred to the trader. The rebate amount will be 9 US dollars per lot for the EUR / USD pair and 10 US dollars per lot for other currency pairs on the Fixed account type. The real costs of the trader working with Traders Union will be 11 US dollars and 10 US dollars, depending on the currency pair.

Try it!  You’ll like this!

Trading Conditions for HYCM Users

HYCM (HY Markets) offers attractive trading conditions for traders living in 140 countries of the world. First of all, the minimum transaction volume is worth noting, which is 0.01 for all types of trading accounts. In addition, regardless of the type of account, a trader is given the opportunity to take expert advice and trade according to Sharia law. The minimum spread is only 0.2 pips, and the deposit is from 100 US dollars.

$100

Minimum
deposit

1:200

Leverage

24/5

Support

MT4 MT5
Trading platform: MT4, МТ5, HYCM Mobile
Accounts: Fixed, Classic, Raw
Account currency: Euro, dollar, pound
Replenishment/Withdrawal: Visa, MasterCard, Skrill, Neteller, WebMoney, PayPal e-wallets and bank transfer
Minimum deposit: $100
Leverage: 1:200
PAMM-accounts: No
Min Order: 0.01 lots
Spread: From 0.2 pips
Instruments: Forex, indices, metals, oil, gas, commodity markets, securities, cryptocurrency
Margin call/Stop Out: 100% / 20%
Liquidity provider: Barclays, HSBC
Mobile trading: Yes
Affiliate program: Yes
Orders execution: Market Еxecution, Instant Еxecution
Trading features: There is a cryptocurrency trade
Contests and bonuses: Yes

Comparison of HYCM with other Brokers

HYCM FxPro Admiral Markets UK XM Group AvaTrade
Trading
platform
MT4, HYCM Prime Trader, HYCM Mobile MT4, MobileTrading, MT5, cTrader MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MT5, MobileTrading MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option
Min deposit $100 $100 $200 $5 $100
Leverage From 1:1
to 1:400
From 1:1
to 1:500
From 1:25
to 1:500
From 1:1
to 1:888
From 1:200
to 1:400
Trust management No No No No No
Accrual of % on the balance No No No No No
Spread From 1 point From 1 point From 0 points From 1 point From 0 points
Level of margin call
/ stop out
25%  /  5% 25%  /  20% 100%  /  30% 50%  /  20% 25%  /  10%
Execution of orders STP Market Execution, Instant Execution Market Execution Market Execution Instant Execution
No deposit bonus No No No $30 No
Cent accounts No No No Yes Yes

Broker comparison table of trading instruments

HYCM FxPro Admiral Markets UK XM Group AvaTrade
Forex Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes
Crypto Yes No Yes No Yes
CFD Yes Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes
Stock Yes No Yes Yes Yes
ETF No No Yes No No
Options No No No No No

HYCM Commissions & Fees

Information

HY Markets has been checked by our experts for the existence of trading and non-trading commissions. The company’s spread was considered as a trading commission, and additional fees for withdrawing funds were considered as a non-trading commission category.

Account type Spread (minimum value) Withdrawal commission
Fixed From 1.8 pips No
Classic From 1.2 pips No
Raw From 0.2 pips Yes

No swaps. We have also conducted a comparative analysis of trade commissions at HYCM (hycm com) with its competitors. Based on this comparison, each brokerage company was assigned a level according to this criterion: low, medium or high.

Broker Average commission Level
HYCM $12 Low
FxPro $13.2 Medium
Swissquote Bank SA $17 High
HYCM
$12
FxPro
$13.2
Swissquote Bank SA
$17
Conclusion

HYCM offers fairly low market spreads, although they are not particularly different from the trading commissions of other companies.

Detailed Review of HYCM

HYCM is one of the leading companies that provides services at the Forex market worldwide. The broker’s length of service is 40 years. It responsibly approaches the fulfillment of the assigned tasks, offering traders-customers the latest products for trading. Fast data transfer, convenient trading platforms and following innovations - these are the characteristic features of the broker.

The regulator for hycm com is the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA). All this is a guarantee of reliability for a trader.

HYCM is a suitable broker for both beginner and experienced traders

HYCM (HY Markets) is one of those brokers that combine a wide range of functionality for customers, technical effectiveness and reliability. The company offers many training materials that will allow beginner traders to get comfortable with Forex trading. You can choose one of three types of accounts with the broker; the minimum deposit is 100 US dollars.

The company is suitable for experienced traders who choose different types of trading strategies: automated trading with the help of advisers, trading the news. It is also suitable for long-term and medium-term strategies, since there are no swaps. Fast execution of orders (Market Execution, Instant Execution) is another characteristic feature of HYCM brokerage company. On average, each order is executed in 12 ms.

Traders working with the broker trade through MetaTrader 4 and MetaTrader 5 popular terminals. The mobile platform is also available. Owners of smartphones and tablets with Android and iOS can work simultaneously from several accounts.

HYCM analytical services:

  • daily market review - fundamental and technical analysis data;

  • economic calendar and market news - to track events that affect the volatility of trading instruments;

  • calculators - for counting points, as well as margin calculator and currency converter.

Advantages:

1

it has been operating at the market for more than 40 years, it is controlled by several regulators. This causes reasonable trust of customers;

2

good liquidity;

3

good trading conditions: three types of accounts, not counting the training one, relatively low spreads - from 0.2 pips;

4

an abundance of trading instruments and 5 types of investments: you can trade stocks, cryptocurrency, currency pairs, futures for oil, precious metals, natural gas, etc.;

5

an abundance of training materials allows the novices to make themselves at home quickly and start making money at the foreign exchange market;

6

protection against negative balance (gap) - will not allow the trader to drain the deposit;

7

you can trade with the help of advisers -  it allows you to use all the advantages of automated trading;

8

hedging is allowed - provides the opportunity to reduce risks.

How to Start Making Profits — Guide for Traders

HYCM (HY Markets) offers to open several types of accounts at one’s choice. The standard currency for replenishment is euro, dollar, pound and rouble. In addition, the company offers to open a VIP account. Traders can use the services of a personal manager on such accounts, and a more complete analysis of the market is available to them. In addition, more favorable spreads are provided for fixed VIP accounts.

Types of accounts:

Account Type
Description
Fixed
an account with a lot size of 0.01 and a minimum deposit of 100 US dollars. There are no swaps on this type of account, while spreads are fixed - from 1.8 pips. Replenished without commission;
Classic
with the same minimum deposit and lot size as for Fixed, no swap. It is distinguished by a lower spread (fixed and floating) - from 1.2 pips, as well as the ability to use expert advice. There is no commission for replenishing a classic account;
Raw
a minimum unit of trading on this type of account is 0.01 lots, there are no swaps and it is possible to use the advice of expert analysts. This account has the lowest, in comparison with other accounts, net spread - from 0.2 pips. However, the replenishment amount already starts from 200 US dollars the broker takes a commission for depositing funds – 4 US dollars.

Before opening an account, a trader has the option to become familiar with the capabilities of the broker and evaluate the functionality of the platform by using their free demo account. For traders who have not yet decided on the type of account, the company offers to go through a small survey to help make a decision.

HYCM provides both classic MT4 and MT5 trading terminals and the mobile platform for trading. The broker offers bonuses for a comfortable start. They cannot be withdrawn, but can be used in trade.

Bonuses Paid by the Broker

Bonus from 20% for deposit replenishment.

It gives an opportunity to choose any type of the bonus according to the type of account and the amount of the deposit.

HYCM (HY Markets) Review - $20 Deposit Bonus
HYCM (HY Markets) Review - $20 Deposit Bonus

Bonus from Traders Union.

If you register at the Traders Union website, you can save even more on trading. Go through the registration, and then follow the referral link to the broker’s website hycm com, and we will pay you compensation for the spread regardless of the results of your trading operations. If you are already working with HYCM, then here you will find detailed instructions on how to attach your current broker account to your Traders Union account.

Investment Education Online

Information

HYCM website has a large training section where every trader can get information for successful trading at Forex and more. The broker provides information on the basics of analytics, trading strategies, and also offers training courses, tutorial videos. The company also holds webinars.

Materials available in the Training section
Unavailable information at the HYCM site
Analysis of trading tools, market psychology, terminology, money management, types of orders, technical and fundamental analysis, etc. 
There is no detailed analysis of each question in the articles at the site 
Basics of working with MetaTrader 4, adding indicators, etc.
 
Trading strategies
 
E-books on Forex, Goods, CFDs and Stocks
 
Webinars and trainings: schedule of new and old - on record
 
How to open an account
 

To put into practice, the knowledge gained at HYCM, the brokerage company experts advise opening a demo account to practice. This will give novice traders the experience and skills to trade on a live account.

To support traders a separate analytical section has been created at the site with an economic calendar, news and market overview.

Security (Protection for Investors)

Information

HYCM is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA).

HYCM carries out financial activities with its Regulations and with the requirements of the regulators. This provides the company’s customers with clearly defined rights and obligations, and also guarantees the safety of monetary assets.

👍 Advantages

  • Customer deposits are kept separately from the company's funds: they are not available for the use by the broker
  • Protection against negative balance 
  • Disputes are resolved by involving an independent person
  • If the broker is unable to provide additional financial services as a result of circumstances, its clients will receive compensation

👎 Disadvantages

  • Regulators do not consider claims of private traders trading insignificant amounts

Withdrawal Options and Fees

  • There are 5 options for replenishing and withdrawing money: bank transfer, Visa and MasterCard bank cards, as well as WebMoney, Skrill and Neteller e-wallets.

  • Money is credited to bank cards and electronic wallets within an hour.

  • Withdrawal to a bank account is carried out within 1–5 days.

  • Minimum withdrawal amount: 300 US dollars to a bank account, 20 US dollars to a card and electronic wallets.

  • Withdrawal currencies: EUR and USD - for all payment systems. Additionally, GBP and AED can be withdrawn to bank cards, and GBP and AED can be withdrawn to bank accounts.

  • To withdraw amounts exceeding 5,000 US dollars to your e-wallets, you will need to pay an additional fee of 1%.

Customer Support Service

Information

The company's customer service is ready to answer customer’s questions and help traders around the clock 5 days a week.

👍 Advantages

  • Many options for communication
  • Multilingual support
  • The site has a section with answers to the most popular questions.
  • You can ask a question without being a broker’s customer

👎 Disadvantages

  • Does not work on weekends

There are several ways to contact customer service:

  • directly by phones indicated at the site;

  • by email;

  • in the online chat at the broker's website;

  • on popular apps: Facebook, Viber, Skype, WhatsApp and Telegram;

  • using the callback form.

Customer service is available from HYCM website (hycm.com) and from your personal account.

Contacts

Registration address 47, Spyrou Kyprianou Avenue, The Noble Center, 4th Floor, Mesa Geitonia, CY-4003 Limassol
Contacts

Review of the Personal Cabinet of HYCM

To make it easier for you to start working with HYCM broker, we suggest that you familiarize yourself with the following information.

1

You can login to your HYCM Personal account from the main page of the broker's website. To do this, just click Login.

HYCM (HY Markets) Review - Official website
HYCM (HY Markets) Review - Official website
HYCM (HY Markets) Review - Official website
2

To authorize, you have to enter your email address and password.

HYCM (HY Markets) Review - Client Cabinet
HYCM (HY Markets) Review - Client Cabinet
3

If you have not opened an account with the broker yet, click on Create a live account and go through the registration. You will also need to go through the verification of the passport data.

HYCM (HY Markets) Review - Open a Trading Accountt
HYCM (HY Markets) Review - Open a Trading Account
4

After registration / authorization, you can replenish your account, download and start MT4 or MT5 terminal, install the Henyep-Live server and start trading.

5

In your Personal account you can choose a trading instrument, use the broker’s bonuses, withdraw funds.

In addition, you will find the following in your Personal account at HY Markets:

  • fresh analytical data;

  • statistics on the trade with the help of advisers;

  • statistics on the effectiveness and profitability of affiliate programs;

  • useful educational information;

  • access to the history of trading operations and replenishment-withdrawal of funds;

  • current quotes;

  • customer service for professional advice.

Tags:

hy markets HY Markets HY Capital Markets Henyep Capital Markets HYCM Henyep Group hycm HY

The Oldest Reviews of the HYCM

The reviews by customers of the HYCM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of HYCM published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

love the way they work! i have 5 years experience in currency pairs trading - 1.8 pips in major currencies. i earn for about 700$ each month. when the problems appear their customer help always help me.

i have obly positive experience with HYCM. i see advantages like 1:10 leverage,fast execution, no slippages, good help line, very comfortable interface, diversity of instruments and so on. they are legal and fair. btw, all the withdrawals that i've made were for about 24 hours - thats the key point for me.

no extra fees, good bonuses and fast withdrawals - what else is needed. it is like others and nothing very special but trustworthy. i like their partner program it gives an opportunity to earn even more then on trading hahah

I've been trading for a short time with HYCM and they work very fast - fast withdrawals, answers of suport operators, good signals and nice interface. The only thing what really bothered me was withdrawals of my money. But on practice they come in 5 hours regularly. Good service really!

I’m not entirely happy with my collaboration with HYCM. I decided to open a trading account here. I immediately credited $500 and thought: this is a good deposit, let’s get started! There was mostly good feedback from existing customers on the trading conditions with HYCM. However, this has not been my experience.My first attempt to withdraw one hundred dollars (which by the way, I earned with considerable difficulty, since there are slippages, and often there is no connection to the server), they charged high commissions, and the delay in withdrawal took about a week. I still have mixed feelings about HYCM so will take my time to consider whether to continue.

In general, HYCM is very good. The conditions for trading are excellent: there are no requotes, no slippages. - this is a definite plus. There is only one drawback: the trading strategy has to be adjusted to the broker’s conditions, but this is a technical point and nothing more. Due to my confidence in my profit, at one time I had 4 accounts with this company, and in general I did not notice any work that could be detrimental for the trader. It happens that quotes are jumping, but this is normal on the Forex market. In general, HYCM is suitable for those traders who, like me, trade with large deposits, with minimal risks.

I selected HYCM due to the lack of noticeable slippage on my trading account, as well as a rather low level of spreads. I have been trading here for 2 years now, using MT4, although I also want to try HY MT4 WebTrader. I decided to give my feedback because HYCM is different from the others. It is important to be careful when choosing a Forex broker. Here you can trust the broker’s many years of experience, its numerous clients and regulation by many European licensees: everything works well with HYCM, thanks to the fact that they are well regulated by a number of reliable licensees in Europe. They allow for a trader to rest easy knowing that they have a deposit guarantee fund as well as licenses from three continents. They have now introduced competition even if you work on a demo account - and you get real funds without limitation.

Author of this Review

HYCM broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the HYCM rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about HYCM you need to go to the broker's profile.

How to leave a review about HYCM on the Traders Union website?

To leave a review about HYCM, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about HYCM on a non-Traders Union client?

Anyone can leave feedback about HYCM on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with HYCM through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.