58 reviews of HYCM are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
This is my second month with HYCM. This is a very interesting broker. He has been working for a long time and we all know that. But I always love to try new things. I like that there is MT5, but when trading on MT4 there is no support for some exotic instruments
but I would like to fix it. And so on the work of this broker, everything is fine!
I read many reviews about this company before I started trading. And I've made sure they were mostly positive or neutral. There wasn't much negativity on the forums compared to other brokers. This is a good sign.
After all, HYCM is multi-regulated. Several serious organizations monitor its activities. I think this also works to the benefit of the clients. And the company's 40 years on the market is a severe figure. The broker doesn't want to spoil its reputation by dubious trading conditions. So they offer the right conditions.
By good terms, I mean the availability of different types of accounts in HYCM. They are divided so that everyone can choose the one that suits one best.
Another advantage is relatively tight spreads. I can't say they are the fastest in the market. But those companies that offer tighter spreads already have minimal experience in the market. However, I'm all the same for reliability and stable trading conditions. And, I support others HYCM reviews.
Of course many people choose HYCM, and this has a logical explanation.
Firstly, this company is definitely regulated and works according to all the rules.
Secondly, you can use demo here when you need it - there is no time limit.
Thirdly, the spreads and commissions are quite adequate, so you can work with even a small capital to start with and still try and experiment.
So everything is obvious and everything makes sense.
I have known this broker for a long time. It hasmany loyal clients over a long 40 years of reputation.
Here I trade on my favorite MetaTrader 4 trading platform using a good 1: 200 leverage in the long run.
I love that the UK has been regulating it for over twenty years! I have not yet seen brokers with a similar position in the market. Hopefully, HYCM will become a more popular brokerage company in the future as it deserves to be at the top.
By the way, I want to emphasize its reliability as an example. For five years of cooperation with HYCM, I received withdrawals of funds strictly according to the rules, with no delays or problems.
I trade classical assets with this brokerage service.
I chose this broker solely to trade classical financial instruments. I mean currency pairs, energies, and commodities. I don’t need stocks because I find stock trading very complicated and troublesome. As for cryptocurrency trading, this broker is not ideally suited for these specific assets. It’s because HYCM LTD St. Vincent, the branch of the broker I’m registered with offers quite low leverage to trade cryptos - 1:20. It doesn’t suit me, although the choice of supported digital coins here is good - up to 20 cryptos. So, I decided to trade other assets here, while for crypto trading I need another broker.
Except for this nuance with cryptos, the broker is perfect in other regards. It’s one of the most reliable companies in the industry. What’s more, it’s probably one of the oldest brokers in the world - more than 40 years in the industry.
I trade on a Fixed account here. I chose it because I need fixed spreads for trading on news. The broker hasn’t let me down yet.
After looking at the reviews about HYCM, I decided to register with the broker and try out his trading conditions.
First of all, I want to draw your attention to that the broker has been working for a long time and has earned a certain reputation.
I like that they offer fine leverage here. I like to take risks :)
The only cons of the company is that they think there are no other trading platforms other than MT in the whole world :/ Come on, there is other trading software out there!
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.
To submit your own Forex Broker review for HYCM fill the form below. Your review will be checked by a moderator and published on this page.
By submitting a Forex Broker review to EarnForex.com you confirm that you grant us rights to publish and change this review at no cost and without any warranties.Make sure that you are entering a valid email address. A confirmation link will be sent to this email. Reviews posted from a disposable e-mail address (e.g. email@example.com) will not be published. Please submit your normal e-mail address that can be used to contact you.
Please, try to avoid profanity and foul language in the text of your review, or it will be declined from publishing.