BrokAIr Reviews

HYCM Review

HYCM is one of the most reliable online brokerages, yet it also has some of the highest leverage ratios available, raising questions about its commitment to safe trading. Is HYCM too risky for its own good?

Did you like this broker?

HYCM Overview

What is HYCM?

HYCM is an online brokerage with a forty-year history, founded in 1977. It is owned and operated by Henyep Capital Markets Group, a global conglomerate with offices in London, Hong Kong, Dubai and Shanghai. HYCM offers traders access to forex, CFDs and cryptocurrencies on the popular MetaTrader 4 platform. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA).

Pros and Cons of HYCM

Public Opinion of HYCM

Public opinion of HYCM is mostly positive. Traders praise the broker's low minimum deposit requirements, user-friendly web trading platform, and wide range of options available. On the other hand, some traders have complained about customer service problems and high spreads. Overall, HYCM appears to be a reliable broker with a good track record in terms of customer satisfaction.

Newsworthy Events Around HYCM

In 2017, HYCM was awarded the Best Forex Broker award by prestigious industry magazine World Finance. In 2018, the company launched its mobile trading app for Android and iOS devices. In 2020, it became one of the first brokers to offer support for bitcoin trading via its web platform. Additionally, HYCM has recently launched an Islamic trading account as part of its efforts to expand its customer base. Overall, HYCM appears to be a reliable broker that has a strong track record in terms of customer satisfaction. With its low minimum deposits, user-friendly web trading platform, and support for crypto, forex and CFDs, HYCM stands out in the industry as one of the top online brokerages.