45 reviews of HYCM are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
Everyone, when he starts trading, has certain expectations. And the most important of them are the following: -a person believes that he or she will have complete independence and the ability to act the way he likes. -because he believes he'll have a great return on investment in the shortest time possible. Actually, the reality is more severe, because before you get everything that I have listed above, you will have to work hard, deal with the difficulties of market analysis and go through a lot of force majeure. This company provides certain conditions so that you can take action. Start with a demo, it is here without limits and allows you to understand the market. There are also three types of spreads available (fixed, variable, raw) and each of them has its own peculiarities. It makes sense to try them.
It is convenient to trade here, it uses a classic terminal, spreads are low, there are managers who can answer any questions, and there are also calculators for correct calculations...
Before choosing the company to trade with I made a careful research and read tons of HYCM reviews. Some were positive, some were neutral, and there were a few negative HYCM reviews. I've noticed that the negative ones were rather bitter. It looked like the customers were not making money with Forex and blamed the broker for their failures. :-/
I didn't manage to find any other reliable broker with similarly favorable ttrading conditions and better reviews, so that's why I'm here.
Broker offers everything for you to be successful:
- two trading platforms MT4 and MT5.
- favorable trading conditions. I don't advise to stick to fixed spreads, they are rather unfavorable, but the rest of account are really good in terms of spreads
- it's a reliable broker, regulated by CySEC and FCA. So you don't have to worry about the the safety of funds. REgulaters will take care of it.
- executions are quick enough to avoid slippages and troubles like those.
I see some advantages, like regulations (really important) and reputation. company is well-known. I'm trading there with Raw account, so my spreads are lower, but I pay $4 for each order. It was good before I decided to try intraday strategy with a lot of orders. Raw account is bad here actually, so I decided to change to ECN account, to pay only spread. I can say that manager was really not nice with my transfer, I even can say he was rude. I'm still trading there, but now I can't say that I'm 100% satisfied.
Didn't have much doubts about the broker when registered here. After working for over a year with these guys I don't have any doubts at all. Non-DD broker, good to go!
If you use pending orders at any point in your trade, then find another broker. Otherwise you are can go with them if you don’t need pending orders to execute because they don’t accept pending orders on live account (always off quotes). Also my reason for leaving them because I always have to be on the screen on live account. The allow you use pending orders on Demo account tho
Working with HYCM you should be already good at trading from my point of view. There is good conditions but for those who knows his trades. Even the materials are good for those who already knows some basics. By the way, the broker is really fair and makes all the payments in stated time.
to be honest i didnt have a wow effect after using hycm own platform. mt4 is stable and works good. i cant tell anything bad about hycm. i also use them to trade through cfd with crypto currency and in this case im very pleased with their work :)
well done platform, welcome bonuses and good pertnership programm (i earn with it even more than with trading itself). comparing with Oanda, hycm has better usability qualities. as for me app works better, and withdrawals are faster. for greens they have studing materials and so on, i like it and choose hycm.
To my mind, HYCM is a good company. They care about their clients: educational materials, fast customer support, easy transactions and good conditions for trading. Dont say it's a scam if you have problems due to your own knoweledge!!! I see there good possibilities. i started from 250$ and now i have an income for about 700$.
I have 2 years experience in live account and half a year in demo. So what can i say is that i didnt face any problem that couldnt be solved with HYCM. I trade currency pairs like USD\EUR and sometimes i like to play with metals. well, spreads are stable, there are no slippages, withdrawals are rather fast (idk maybe im just lucky) - what do you need else. they have very fast help line and they always try to help - sometimes they achieve it. my experience is very positive and i checked everything by myself. i strongly recommend and cannot agree with last opinions for sure.
Good enough. Have both positive and negative moments. I use demo now and study their materials! Now i understand and know more!! Education is the best part!
Too many off quotes, they do not allow your EA. They do not allow Sell Stop / Buy Stop, server too busy during the data time. They also tend to change your Profit orders to loss, they edit the closed orders. Be careful!
Not good broker ... 2 weeks and nearly 10 tries to order completed with Off Quote. For those who no idea about the message, this error appear when broker doesn''t give you quotes (or have no liquidity) or just don't want you to trade in the given moment of the error.
In my case they denied me to compensate me (because servers works well) and they have no idea why their servers gives such error ... SCAM broker.
Also communication is extremely slow, non informative. Live chat doesn''t respond half of the day. When it works, the responds are too slow.
If you think they compensate you when there is a trouble? Forget this idea.
I'm on the way to ask FCA and Financial ombudsman what a hell is going on with this broker and why it is now properly regulated.
My trader expert opinion: DON"T USE HY MARKETS!
I stopped trading with HY last year. I opened an account, traded for some time and then withdrew the surplus. It took me a week to trade, then a week to withdraw my money.
Please somebody explain me what kind of broker does nopt allow to saet orders? That's the first time I actually faced such a problem, They just don't let me trade the way I want to. I have my own strategies, but I cant to use them - that's because they don't let one set BUY STOP and SELL STOP. HOWISIT?!!!
Well, and it takes much time to withdraw funds. Fortunately, I had no withdrawal problems.
So, what can I say - that's not the best choice as for newbies, actually for experienced traders either.
P.S. I don't remember my account number so dear administrators, I'm sorry.
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. firstname.lastname@example.org) 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.