78 reviews of HYCM are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
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.
I got interested in trading absolutely by accident, just because I heard about this business from my friends, and I was sure for a while that it was a certain entertainment for me and I wouldn't be doing it for a very long time. But today I thought that I have been trading for 4 years, and this is already a solid experience. Although the first year I did it rarely, and then I already did it as my main source of income. And I even gave up my main job because it stopped making me happy.
Here I work with mt5 with raw spreads, I like the fact that here I am able to do detailed technical analysis, as well as asset analysis on a dozen different timeframes - this gives me a certain advantage in the market.
I chose HYCM because this broker has enough experience in this field. I rarely work with brokers founded in the 2000s because I don’t find them reliable enough. HYCM has been working in the industry since 1977 and this fact makes me trust it.
I prefer trading metals and indices on Metatrader 4 and I like the way my market orders are executed with this broker. For three months of my collaboration with the company, I made at least seven withdrawals. In most cases, I received the requested money within a day.
I had a lot of free time in my previous workplace and I understood that I was degrading, just wasting my time for nothing. So, I started to learn new concepts and terms on my own, just to make my worldview wider. I remember that the first financial term that I've learned was “to hedge” and that was the word which started my trading story.. I became just obsesses with financial markets!
But when I started looking for a reliable broker, my joy went away. Many companies didn't have proper regulation, that's a widespread problem. And those that did, offered not very favorable trading conditions.
My search continued until I found out about HYCM. This company was a good fit for me. Here I found quite a lot of usefull things, especially HYCM education, it was another brick in my brokerage carreer. After a year of trading with this brokerage, I can say with certainty that this isn't a shell company, so you can try it and earn money with it =)
Before working with a brokerage, I read quite a few different HYCM reviews. In general, a broker's reputation in the market is quite positive, and the reviews are also.
So I decided to open an account with a broker. At first, I got a little confused about different account types, because HYCM has three of those. And each type of account has quite different trading conditions, which made my choice more difficult. But from the broker's reviews, I learned that it had a test that has to help me. This is a small test, which for each trader selects the most suitable account type. However, the comments also said that the result is not always 100% accurate. That's why I've been thinking a little bit on my own, not only trust test results.
As a result, I opened a Classic account, because it has floating spreads.
Now it's been more than half a year since I started my trading with HYCM. So far I am fine, no problems have arisen. And if there were any difficulties and so on, I was very much helped by the brokerage customer support)
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