50 customer reviews of hycm.com
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HYCM Rating
Based on 50 reviews from HYCM customers, company has accumulated an average rating of 4 stars, indicating that majority of customers are satisfied with its service.
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But in practice it turned out that everything is better to use gradually. And you should definitely check everything that attracts your attention. Because even the safest format can be unprofitable if you intentionally increase risks.
And I would also like to advise you to pay attention to calculators! This became a real discovery for me, because I did not think that today it is possible to somehow more easily deal with the calculations. And for me this is a really difficult because of swaps. This tool is really useful, so if you haven't tried it yet, be sure to try it.
This is because the company does not offer passive approaches, for one thing. Secondly, there are many regulated instruments that allow you to use technical analysis or news analysis, and if you're really new to this, you can start with some demos for a quick look around and to understand exactly where you want to go from here.
Also there is no limit for the initial deposit sums - you can start with a minimum amount, just to check the withdrawal procedure.
One more thing, all types of spreads are available - pick the one you like.
There are both MT4 and MT5 platforms here. So traders can choose what HYCM like and what suits them best.
For example, I prefer to trade in MT4, the old-fashioned way. This is the terminal I have learned to trade on. It is very familiar and understandable to me. I know every button here. And MT5 is kind of alien to me. I still haven't dared to try it in trading. Maybe I'm really missing some profitable opportunities. I don't know.
As for trading at the company, I'm satisfied with everything. I'm confident with the quick withdrawal of funds. The support service also answers quickly and helps to solve problems. I'm happy.
So I'm even a little proud of myself, but it seems to me that I couldn't have achieved such good results on my own.
So, in general, I'm satisfied that I chose this brokerage, it fully justified the trust, and the money that I invested in it)
I was surprised with the level of service delivered by the support team. HYCM answer any question with a detailed explanation, no need to read dozens of texts to understand important things.
Look at the number of countries HYCM operates in, as well as the number of media appearances!
SInce I use different trading strategies depending on the asset class, market volatility and the volume of trading, I appreciate the ability of choosing the leverage. Of course, many HYCM reviews say that regulatory requirements of different branches matter, but what if I trade on behalf of an international pool of investors? Why should I insist on putting all of them into one jurisdiction? I'd better take advantage of different trading conditions provided by one broker.
And I'm really lucky that I ended up in HYCM right away, because not everyone is really so lucky. And I certainly escaped the frustrations of terrible service or something.
But there is one thing that especially impresses me here - of course, webinars. Yes, HYCM don't happen very often, but they are always so interesting. I really like it. I always learn something new!
I found out about HYCM a few years ago when there was a huge spike in Bitcoin prices. Then I was wondering what it is and why it is growing. After that, I bought one bitcoin and watched its growth. Of course, I missed the very peak, as I was busy with my own business. Therefore, I did not make as much money as possible, but 300% was a good profit. I bought bitcoin for eight thousand dollars and sold it for twenty-four thousand.
By the way, Bitcoin's further growth is now predicted, but I don't buy it. I'm just interested in watching the crypto growth trend :) With regards to HYCM.
I talked with different traders, both beginners and professionals. Everyone spoke positively about the broker, as HYCM has earned a good reputation over the years.
Of course, the broker only has two trading platforms - MT4/MT5. But, this does not prevent users from staying and trading with this broker further.
There are good conditions for making money here - low spreads and minimal transaction fees. Also, there is no slippage.
I believe that HYCM is a noteworthy broker and will only gain popularity soon. I wish everyone successful trades!)
1) Low spreads.
2) Small commissions.
3) Quality customer service.
4) Instant withdrawal.
5) A wide variety of tools for technical market analysis.
The broker always allows me to enter the market at the desired price without trying to cheat me. I highly value it and it makes me want to keep trading with this company.
Having studied numerous articles online and tried many brokers, I can say that there are only two things that really matter. These are reliability and deposit/withdrawal. If everything is OK with these two points, you can trust this particular broker.
Before I decided to stick with this brokerage service, I looked through many hycm reviews but I found many of them controversial. So, I decided to test this broker omitting some procedures that might seem obligatory. For example, I didn't open a demo account with HYCM because I think it's 100% pointless because it will show the same you may see with other brokers.
I deposited $100 (their minimum deposit), traded for a month, and made a series of withdrawals with different payment methods. So, I can say that I'm satisfied with the execution speed and how my withdrawal requests are handled by their managers. It makes me want to continue my collaboration with the broker.
By the way, in spite of the whole trustworthiness of this brokerage company, I should note that there's a great deal of luck in my acquaintance with this broker. My experience with this company could be not so shiny if I joined another branch of this broker.
I joined HYCM LTD (St. Vincent) because my place of residence allows me to do. This branch allows to trade Forex instruments with 1:500 leverage. It's a very crucial nuance for me. But there are European branches of this broker such as HYCM (Europe) Ltd (CySEC) and Henyep Capital Markets (UK) Ltd (FCA) that don't allow to trade FX instruments with such leverage. Instead, you can count on 1:30. So, I just want to warn you, guys if you live in the EU and this may happen. Nevertheless, I think that it makes sense to trade with this broker even with that EU regulation restriction because it's a reliable partner and that restriction can be compensated by a different trading approach.
However, amid this thriving abundance of trading services, we often forget about reliability.
The matter is that reliable brokers don't attract much attention. They don't offer bonuses and their minimum deposits have reasonable sizes. Newbies don't think that those brokers who offer too many bonuses may have problems with regulation and therefore with liquidity. In turn, liquidity issues result in problematic execution.
My experience gave me this knowledge, so I try to choose only trustworthy brokers.
I discovered this broker via hycm reviews. The very fact that it has a very large experience of working in the industry encouraged me to sign up.
I like to trade with the broker. I appreciate its execution and its attitude to me. That gives me confidence in the broker.
I always thought it was just commissions and that's it - who cares if it's fixed or whatever.
But now that I have tried different formats, I know for sure that it really makes sense and it can really make a big difference in the bottom line and you should definitely try it to draw conclusions and choose for you what will provide your comfort in the market and lead to more stable results.
So if you haven't tried fixed spreads or raw spreads here for example - by all means try it - because it can take your performance to a whole new level - that's for sure.
This broker has a regulator, which means your deposit will be safe. Another strong side of the broker is that the orders are executed with high quality and with minimal slippage.
It seems to me that the broker can boast of these conditions due to the big history of the company, during which the broker has qualitatively improved its trading conditions and quality of its services. So now it is that broker, with whose you are happy and you want to work. And this is what I plan to do further)
As an old-school broker, HYCM doesn't offer any custom-made trading solutions unlike younger brokerage services do. So, if you want to use something modern, sleek, and extremely intuitive such as cTrader, you can certainly look for alternatives. As for me, I favor tried and tested terminals – MT4 and MT5 – that's what you get with HYCM.
The broker doesn't provide the richest choice of assets. However, here you can find the most popular financial instruments. That's enough to trade profitably. For example, you can trade up to 40 currency pairs, indices, metals, ETF, cryptos.
I favor the tightest spreads, so I chose a Raw trading account with spreads starting at 0,2 pips.
I am happy that modern companies offer enough services so that you can get used to faster. For example, there are two trading terminals to choose from, and MT4 and MT5 are wide functionality and tools for algorithms.
For example, there are also forex calculators, which allow you to quickly calculate the order size, estimate the free margin, etc. And it is really convenient.
And I liked very much the fact that here there are raw spreads, which allow you, with less than $5 commission, to work actively and try even those assets that you have avoided for various reasons before.
A company here can also be a help or an obstacle. And I, for example, believe that this company is the best thing that happened to me. Because here I learned to work independently, here I found a good theoretical knowledge base for beginners, here I was able to experiment with spreads and chose the best ones (raw), so I'm absolutely satisfied and hope that soon I will be able to boast of some major achievements.
1. Legal info. Brokerage is fair with its clients, there's no shady places if we're talking about its legal information. You can find any details on their website and its Terms and conditions are quite fair. There's no 'weak places' that would allow brokerage to manipulate you somehow. Everything is written detailed, without strange points like 'The broker is not responsible for client accounts'. Almost all reviewers are ignoring legal info, but that's of first importance when you're choosing brokerage.
2. Regulation - brokerage is fully regulated, FCA and CySEC, everything is very well in this regard. They're 2 most popular and trusted European regulators, nuff said.
3. Trading platforms: Metatarader 4/Metatrader 5, nothing special. Some reviewers are so excited with MT5, but I see almost no differences compared to MT4.
4. Spreads. There are 3 account types, I've tried only ECN. Nothing special as well, spreads are tight, around 1.2 pips for my Forex portfolio.
The execution is very good. I didn't notice any attempts to manipulate prices on the part of the brokerage service. Perhaps, you heard many such stories. Here I didn't have a negative experience, although it would be strange to face anything like that with such a reputable broker.
I trade on a Raw account here because it offers very tight spreads. I don't know why it's called the Raw account, but it's an ECN account indeed. HYCM also charge a fee for their tight spreads that points to the ECN account.
The broker doesn't bother me with bonus promotions because it doesn't give any. I never rely on bonuses because I don't want to face typical restrictions associated with bonuses.
This broker is one of the oldest in the industry and it's well-regulated. It doesn't offer a lot of exclusive features but it's reliable and that's the most crucial thing for me.
First, it's a good reputation. It is true that HYCM has a very good reputation. I can even say that this broker is on the list of the best brokers and numerous ratings and reviews confirm it. The reputation is actually very important, although some traders do not consider it to be anything significant. However, good financial companies, including brokers, are working on their reputation. I have monitored the representation of HYCM in the media and I can say that in general, this broker is positively represented.
The second one is the serious regulations, including FCA and CySEC. This means that this broker not only has a "tick", but also offers trading in a fully legal field. This means that in case you have any problems or discrepancies with the broker, you can always contact the regulator to settle your dispute.
Last but not least, it is of course the trading conditions. The minimum deposit is only $100, and the spreads are tight enough, especially considering everything written above
But in practice I also appreciated the other advantages of this company, and in particular I really liked the webinars, because HYCM explain not only the theory or strategies, but also some specific nuances, which can be applied in practice. It helps.
In fact, it seems that I coped with it and this company played significant role in my growing up as a trader. Of course, I also did well, but company provided me ground to lean on.
I constantly read the educational materials and watch their webinars, which help me to see many things in practice and further apply them in my trading.
That's why I periodically withdraw funds and I'm m satisfied with how my trading is progressing, how I would become better.