52 reviews of HYCM are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
In this brokerage service, I found everything I need. First of all, I was looking for reliability, especially after a series of negative experiences with other brokers. Secondly, I was looking for good trading conditions and I found it there too.
The reliability of this broker isn’t a questionable thing taking into account its 40-year trading experience.
I chose a Raw account due to very low spreads that is good for scalping. By the way, a minimum depo for this account isn’t big - just $200.
Was lucky to join HYCM LTD.
I should say that I’m very lucky to join exactly this branch of this broker. The matter is that other branches of this company offer quite low leverage for Forex assets (1:30). It’s because of local regulation restrictions. Local watch dogs simply made the branches do that. Fortunately, it was possible for me to sign up exactly with HYCM LTD (St. Vincent) - the only branch of the broker that allows to trade Forex financial instruments with 1:500. I’ve been using exactly this size of leverage for a long time. I find it optimal for me and shifting to lower leverage would be a painful experience for me. I guess I would have to quit HYCM in case of inability to trade with higher leverage because it’s very important for me. It would be a bitter disappointment to quit a respected broker with a 40-year experience because of the regulation clampdown.
The broker ensures a high-quality trading process free of slippage and requotes. So, I can trade with peace of mind without fearing to lose money due to the broker’s malicious deeds. Unfortunately, it occurs in the industry. However, I know it won’t do that. I’m absolutely confident in its reliability.
The company has quite a lot of assets but only two trading platforms. These are the most common MT4 and MT5 in HYCM.
I think the broker could also add the cTrader platform. It's also popular among traders, and it has a lot of built-in tools which are useful for them. For example, it can be Technical analysis tools.
But that's just my opinion. Maybe the broker has its own vision of business development. I'm sure that nowadays, companies like HYCM don't standstill. They're continually improving their service. And that's a good thing, of course.
A very reliable broker.
I really don’t see any serious downsides in this brokerage service. However, other folks might notice any. The very fact that it’s a well-regulated company with a 40-year experience in the industry makes me forget about probable downsides because my trading experience tells me that reliability is a number one quality of any broker. So, if a broker lacks this vital quality then it makes no sense for me to work with it. Why on earth should I care about bonuses and cashbacks if I have to worry about my capital. That’s why I prefer to stick with proven companies. I came to this broker after I studied numerous hycm reviews online. They intrigued me. My experience allows me to easily distinguish real feedback left by professional traders from fake stuff. I didn’t think too much when choosing an account. I chose an account with the lowest spreads. It’s a Raw account. As for the trading process, the veteran broker didn’t disappoint me. That’s so good when your expectations are met. I haven’t tried to withdraw earnings yet but I hope I will not have issues with it too.
I am a new trader in HYCM, but I can write a review on fresh traces, so to speak. Because traders often face specific difficulties when choosing a broker. So let's go.
I want to note that there are no hidden fees in HYCM. I'm happy about it. You just choose the account type with the spread only or with spread and commission, and you see all expenses in your account history.
For me, it was more profitable to open a Raw account. It has very tight spreads and minimal commission. This type of account is suitable for large volumes. In that case, it is very profitable to trade in HYCM. Because thanks to small spreads, you practically do not lose profit when you open trades. And the commission is quite average. It is not higher than in other brokers. And in comparison with some companies, it is even lower.
Yes, I chose the hycm company and I can say that in my case it was definitely the right decision.
Here I was able to quickly adapt and even figured out MT5, which for a long time seemed to me to be something incredibly difficult.
Everything worked out precisely because there is a normal demo that allows me to log into the account at any time and practice, try different strategies, take a closer look at timeframes, etc.
All this, of course, is positively reflected in my personal statistics and this brings me confidence in the future.
Here I also got acquainted with fixed spreads, and this had a completely different effect on the quality of my work - I significantly increased my personal trading speed.
Now I don’t need to spend a lot of time to make a decision and for all this I “pay” less than 2 points.
In my opinion, the advantages are obvious.
In five years of trading I have managed to learn a lot of useful things. For example, I understood that it’s very dangerous to entrust money to only one broker. Unfortunately, I had several negative experiences. I lost money, although it wasn’t the broker’s fault, but a technical issue, but I certainly shouldn’t care what it was because as a customer I have certain rights. It’s a great pity that sometimes they are brutally violated.
Since that time I have distributed my capital between several brokers and this money management approach gives me peace of mind. I've recently discovered HYCM. It’s a veteran broker. This fact made me sign up because I respect brokerage services with a rich experience. The broker generally met my expectations. I get positive emotions from the trading process and it makes me want to continue.
I've read a lot of HYCM reviews and almost all of them are trully positive. I don't think that's strange, as people really like this brokerage and I understand them. To be honest, when I decided to try trading, I was sceptic about this business, I've read a lot of stories about losses on Forex, so I was ready to lose my $500, but I decided to try, hoping trading would work out.
And that's the most strange thing most people don't understand (and me as well). When you just come to trading - you're very likely to make a mistake. For example, I invested half of my deposit in one trade. Thanks God, I haven't lost a lot, but that's a common mistake.
If you want to make money trading online - you should be ready to trade according to your strategy, not just press buttons randomly. So now my verdict is simple - trading is a place where you can make money, but you should take it seriously and with the cold mind.
The main advantage for me was that company offers joint accounts. I'm trading with my friend and we used to just trade from different places, but then support team contacted me to clarify what's going and make sure my account isn't hacked. I explained them the situation and they helped me to create joint account. Imho, that's fair as I think. They didn't suspended or freezed account, just helped me to resolve my issue, I think that's a way how each brokerage should act.
When I saw this company, two things impressed me.
1. The presence of several regulations - the first time I have ever seen such a thing.
2. Raw spreads - a huge rarity nowadays, because it provides quite high profits for traders.
And of course this defined my choice and I decided that this is where I would stay.
And yes, I use exactly raw spreads, because I usually have about 15-20 positions every day, so the commission of $4 is exactly what allows me not to think whether it is profitable or not. Because it is profitable a priori. And for me, of course, it is a certain freedom, even from a moral point of view.
So if you're in doubt, then you should definitely try it - it's worth it.
I didn’t dare to join this broker immediately because I’m a very cautious person. I studied a lot of hycm reviews online and they made me think that it’s generally a trustworthy brokerage service but it’s choice of features isn’t very rich. Later I realized that reliability is the number one feature that can’t be overshadowed even by tons of exclusive features. Really, if you require bonus promotions or the complete list of altcoins, you’d better look for another broker. However, if you want to just trade a basic list of financial instruments and always have a possibility to withdraw your earnings, that’s where HYCM comes in handy.
I opened a Fixed account with the broker and after a 3-month test, I can say that I haven’t faced execution lags. As for withdrawals, the requested amounts come to my Skrill account within an hour or so.
On the other hand, I wish the broker could introduce something new. I don’t mean bonus promotions, but a trading terminal of the new generation, such as cTrader would be welcome.
Usually, brokers of such a high level of service keep a high entry threshold. That is, their minimum deposit amounts to hundreds or thousands of dollars.
In the case of HYCM, it's different. I like the fact that trading here is available to almost everyone.
You can start with $100 only.
Or you can choose a Raw account where the minimum deposit is $200.
This is excellent news for those who are just starting out in trading. Or for those who have not the most positive experience and are wary of investing a large sum in trading.
It's always better to start small and move to larger amounts. In this case, you will learn how to manage small ones faster and easier.
The first thing I learned about this company is that they are reliable. When choosing the best trading conditions I learnt it offers three types of accounts. In the company where I traded before spreads were fixed: 3 pips and higher on currency pairs. And it's not only that variable spreads started at only 1.8 points, but I can also try raw spreads + commission approach. And for six months of my work with the company, what did I learn?
Fixed spreads are very convenient, because it doesn't require any specific calculations or worries about something unexpected happening in the market.
Raw - from 0.4 points plus 4-dollar commission - that's a cool option for dynamic traders.
Personally, the variable ones are more suitable for me.
I occasionally discovered hycm reviews online when looking for another broker. By that time I was fed up with my last broker. I hated all that slippage and constant delays in my withdrawals. When studying numerous reviews online I was mostly in a bad mood, so my first reaction at HYCM was quite sceptical. I thought that it was another typical broker and nothing else. Fortunately, I changed my mind soon once I tried it.
The broker didn’t try to surprise me with novelties. It offers Metatraders, but due to a well-built infrastructure on the side of the broker everything works well. I didn’t see slippages, freezes as well as other unpleasant stuff demonstrated by other brokers from time to time. I made a lot of withdrawals to my e-wallets. I received everything I requested. It makes me trust the broker. However, I think HYCM should offer bonus promotions. I feels like it doesn’t offer any.
I can name 3 reasons why this brokerage is on top of my list.
1. Reputation. A lot of people are hypping regulation. I understand that regulation is nothing, if it isn't followed by reputation. HYCM has good one, so that's the guarantee that brokerage would be fair. Sounds banal, but reputation is the only one thing that can build your trust in modern world
2. Raw account. Most traders don't like combined account types, when you're paying both spread and comission, but Raw account offers so tasty conditions that I like it.
3. Fast withdrawals. My life is full of surprises and sometimes I need my money asap. Hycm withdraws them within a day, so that's advantage for me, but if you don't care about time, than it wouldn't matter 4 you at all.
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