HYCM Reviews

Name: HYCM
Rating: 2.76

2.8 Rating 815 Reviews

45 %

of reviewers recommend HYCM

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2.8

Based on 815 reviews

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Anonymous

Anonymous // 01/01/2019

Filter: Rated 4 None 5 Stars 4 Stars 3 Stars 2 Stars 1 Stars Helpful

“Probably you can hardly find a trader who hasn't heard of this company. The broker is of course very famous. I don't really like their website, such a famous broker could have spent more time and money to develop it, but as for trading conditions, they are optimal. There are three different types of accounts to choose from and there is even an account with fixed spreads. Many brokers don't even offer such an option, because in case of unforeseen situation on the market all the risk will have to be covered by the broker. And hycm has enough reserves to cover those risks.”

Helpful Report

Posted 4 years ago

“I decided to trade at night with this brokerage company because it’s ideally suited for this. It’s because this broker offers fixed spreads. If you have ever tried to trade at night, you should know that floating spreads are quite problematic for night trading. To be honest, it’s not a problem for anybody. Many people get along with floating spreads even at night. Yeah, that’s true, but you should realize people trade differently. If a person is not a scalper and he usually enters the market manually, it’s no problem, but the situation is different if you rely on pending orders. At night you may struggle placing pending orders because of widening floating spreads. You may place a system of pending orders and then one or two of them can be kicked out by suddenly widening spreads. If you have ever faced such a situation, you should know that the only way to avoid it is to find a broker with fixed spreads. I did and registered with HYCM. It offers fixed spreads and it’s regulated. That’s what I wanted to get.”

Helpful Report

Posted 4 years ago

“Some people pay too much attention to assessing brokers. They compare different brokerage companies and try to find out which license ensures better protection. Earlier I was also convinced that the choice of the right broker is the bulk of success in trading. Over time I realized that the main thing is that how you analyze the market. Of course, today the brokerage industry is overcrowded with scams, but on the other hand, it’s not a problem to find a genuine broker. All you need to do is to make sure that it’s regulated. Even if your broker has a license from a very reputable watchdog, it doesn’t mean that you will become a millionaire soon. Your major tool in trading is the capability to analyze the market correctly. If you are for some reasons still struggling to do this, don’t persistently try to enter the market. You’d better focus on demo trading. You should have enough practice and over time you will acquire this crucial skill. I don’t know how much time it my take - it’s all individual. As for this broker, it’s genuine, experienced and regulated, but the percentage of profitable trades is not the merit of HYCM, that’s my hard work.”

Helpful Report

Posted 4 years ago

“Nowadays it's becoming harder and harder to choose a proper broker for your needs in trading activity. It's explained by the presence of the biggest amount of broker around the whole sphere and all of them has their own peculiarities, drawbacks and advantages. So, firstly you have to assess the work of an expected broker in order to be sure that it suits your needs. HYCM gained my attention by its approach to traders. There is a quite responsive customer support, which help you any time you apply to it. Moreover, it has a great system of diversification traders according to their personal style and needs in trading. A smart system can help you to determine which type of account suits you most in order to ease your trading activity. Nevertheless, I'm not really okay with the system of withdrawing money, because the minimum size of withdrawin is 20$ and this fact makes me a bit disenchanted because I tend to withdraw small amounts of money, but one can state that it's nothing.”

Helpful Report

Posted 4 years ago

“It is very convenient to work with this broker. The first thing I want you to pay attention to is the fact that hycm is regulated by several jurisdictions. Perhaps, that is one of the most regulated broker I've ever seen. More than that, many traders work with hycm and they are quite satisfied with it, which makes the broker trustworthy. This moment is one of the most significant as no matter how well you trade if your broker is a scam, so that you'll never get your money back from it. This is definetely not about hycm. Speaking about trading conditions, they are also fine. I like the fact that the brokerage supports mt4 and mt5 platforms. This is really nice as I didn't have to learn how to use new platform in the process of switching the brokers which made the whole transition painless.”

Helpful Report

Posted 4 years ago

“HYCM is a really reliable and decent broker and can be described by saying 'The best wine comes out of an old vessel'. This broker is for those who don't want to worry about scams and safety of their deposits. The broker was founded in 1977 and since then it preserves its decent reputation. More than that, it is highly regulated by various organisations. In addition to that I like the fact that the broker doesn't insist on using its own platform but allows its clients to use mt line-up for trading. It is of great importance to the most of traders as many traders will not experience any discomfort by changing thei trading partner.”

Helpful Report

Posted 4 years ago

“I have been trading with HYCM for three months now. Together with my friend we moved from another broker at the same time. Both he and I have heard about HYCM from the reviews and then we both tested the demo version of the trading terminal. After two weeks it was clear to us that the broker is really good. And I would like to highlight the execution because it is very important. My friend and I have been able to find after few days the quality and speed of execution, it is just great! The company works at a high level.”

Helpful Report

Posted 4 years ago

“This is a very successful company. This was enough for me to start trading here. Because I want to become successful and the reputation of the company in which I will work is important to me. HYCM has been working for a very long time and has a huge number of customers who write good reviews. They do this because the broker is honest and has everything to trade: MT4 and MT5, a lot of trading assets, good support and quick withdrawals!”

Helpful Report

Posted 4 years ago

“Probably, like everyone else, I started out trading on currency pairs, but as I got out of the pandemic, I got carried away with Asian Indices. My former broker had a very limited selection of indices and the spreads were biting. So I started looking and went to HYCM. Excellent trading condidiitions and licenses convinced me. Now I'm very glad that I decided so. I made good money.”

Helpful Report

Posted 4 years ago

“Definitely a worthy broker. I have been trading for several months, they did not disappoint, support is always ready to help if you have any questions, and there have been no complaints about the execution so far. I'm going to try a stock account, it's interesting to try something other than currencies. On the positive side of this broker, it can be noted that the types of its trading assets are very widely represented. For example, the list of trading instruments contains about 200 different stocks, 14 types of cryptocurrencies. And also the fact that the average transaction execution time is up to 12 ms”

Helpful Report

Posted 4 years ago

“I like the trading conditions in HYCM. There are many such reviews. But I don't understand why the company introduced an account with fixed spreads. I don't trade on it because I believe that the spread for each asset at any given time should change depending on the current market quotes. Floating spreads are determined solely by the market situation. They don't suppose any interventions from the outside. Using a floating spread, I pay for each trade an amount exactly equal to the difference between the bid and ask prices for a given asset at the trade time. Thus, no one, including the broker, can determine in advance the size of the spread and guarantee the hypothetical profitability of a trade. I want to trade with transparent conditions. That's why I chose a broker with good regulation and positive feedback. The HYCM reviews are good. And also, the broker is multi-regulated. So I'm not worried about my capital here. And it's the most essential factor for me.”

Helpful Report

Posted 4 years ago

“This is another good broker in my portfolio. For five years of intensive trading I have never relied on one broker. Instead, I pursue another policy. I try to diversify my trading capital between several brokerage services. To be exact, as of now I trade with up to ten brokerage services and the tenth one was recently chosen by me. That’s HYCM, one of the oldest brokers in the world. Its year of foundation is 1977. I learned about this broker from reviews. It’s no wonder that for a long time I knew nothing about this company because as a rule veteran brokers are not aggressively promoted unlike younger projects. But veteran brokers have a steady audience and reliability. The latter is especially crucial for me because I want each of my brokers to be reliable enough. I never scalp with my brokers. I hold long-term trades only and HYCM is no exception. I opened a Fixed account here. With this broker, I hold long-term trades on currency pairs and metals. I already tested withdrawals here and I’m satisfied how their managers held my requests.”

Helpful Report

Posted 5 years ago

“I couldn’t overlook this broker because I’m a very conservative trader. A broker with one of the richest experiences in the industry is what I need. I registered a Raw account with the broker because I find it universal. I can use it either for scalping due to very tight spreads or for long-term trading. The quality of execution here doesn’t give me any reasons to complain.”

Helpful Report

Posted 5 years ago

“This is a broker with acceptable trading conditions. You can start trading with a minimum deposit. You don't need thousands of dollars to do this. The company has nice fixed and floating spreads.”

Helpful Report

Posted 5 years ago

“This broker is very classical. Here you can hardly find anything innovative, such as modern cutting-edge trading platforms or catchy bonus promotions. Instead, you can count on Metraders as the only trading solution and… ultimate reliability. Of course, the latter is of supreme importance for many traders. If you need just a reliable partner without whistles and bells, then this 40-year old broker would be the optimal choice.A reliable broker is a great thing that makes you forget about extra features. I tested this broker for two months and I didn’t discover anything negative in the trading process. Requotes didn’t show up and the broker didn’t try to offer me another price instead of the requested one. When deciding on this broker, keep in mind that European branches of the company can’t offer you high leverage due to regulation restrictions. It’s probably the only downside of this company, although that’s true not for all of its branches. Visit their official website to learn about leverage restrictions in different areas.”

Helpful Report

Posted 5 years ago

“For me, HYCM has long ceased to be something unexpected, I have been trading here for almost 5 years and I can say that during this time, experiencing good moments and heavy losses (in the first year of market development) I never wanted to change the company or give up trading generally. I myself understood my mistakes and often faced strong excitement that did not allow me to think about my own prospects. So it is not surprising that I often made mistakes, but over time, with the help of constant practice and demo and the recommendations of my analyst, I still managed to become a real trader and correct all the mistakes that I made before. I cannot say that HYCM reviews will show you all the advantages and features of this brokerage company, because a lot depends on your personal preferences and work habits. But here you can really work and even study, and there are no difficulties with financial issues. I think you'll like this.”

Helpful Report

Posted 5 years ago

“Multiregulated company and that's all you need to know about it I think. Reliable, with responsive support. I'm trading it for 4 years, no problems at all, so I think brokerage is good =) No copytrading, but I don't think that's significant disadvantage=)”

Helpful Report

Posted 5 years ago

“I want to leave an HYCM mobile app review. It's the only broker in my memory that has a great app. Usually, these programs are a bit underdeveloped. But I can tell right away that this company values its reputation. That's why there are many useful features in the app. So the app is terse, and the interface is understandable. I can get notifications about important news with a short explanation. I especially like this last feature. Thanks to it, I have made a couple of big profits. It allows me to track what is happening in the market promptly. I like the conditions in HYCM. I have read many reviews about how difficult it is to choose the company's type of account. I don't understand what the difficulty is. Because each type of account is accompanied by a clear description. Plus, there is also a test to determine what type of account is appropriate. I also like the fact that the minimum deposit in the company is really minimal. For such a large broker, this amount is very acceptable. In my opinion, it is the lack of built-in analytics in the terminal only. I would like to make it even easier to prepare for trading. But this is my personal review. Maybe it's a little subjective.”

Helpful Report

Posted 5 years ago

“Clear conditions with the right serbices for modern traders - calculators, webinars, different types of spreads, reasonable commissions”

Helpful Report

Posted 5 years ago

“HYCM has a lot to offer both for beginners and professional traders. And I think that's good that brokerage isn't overconcentrated only on one part of audience and tries to satisfy both ones. For professional traders HYCM would be definitely good for 2 reasons: 1) It's regulated. And that's not simple CySEC regulation, HYCM also has FCA regulation and that's even more reliable one. Yeah, I know they belong to different legal entities, but we know that's just a formal thing, they're all part of the Heynep Group and are contolled from the signle headquarter. 2) Story behind the company. Something new is cool if we don't speak about our money. When it comes to business, investing or simply managing our funds, all of us would prefer sth that's proven by time. As HYCM operates since 1970s it has a long-standing reputation and a strong old-clients database. And that's exactly what professionals are looking for. For beginner traders HYCM has also sth to offer. I mean: 1) There's education. And yeah, everything except workshops and webinars isn't so good to make you trader, but these live activities overshadow weak primarly education. For example, I came to HYCM as experienced traders, but I got a lot of usefull things with its webinars. 2) Economic calendars and other stuff. Pros aren't using them, as they're using more complicated ways to get news and insights: BI Intelligence, Bloomberg, etc. But if you're beginner, I think you would be satisfied with all info gathered in one place, so no need to search for info and re-check it. I don't mean that's the best brokerage in the world, I know some of its flaws, as well I have read a lot of HYCM reviews where people explained what disadvantages they found in that company. But if we look 'in general; than HYCM is no doubt a place I'm satisfied with.”

Helpful Report

Posted 5 years ago

HYCM is rated 2.8 based on 815 reviews