HYCM Review

I’ve been using HYCM for several months and haven’t experienced any major issues. The trading platform is intuitive and easy to navigate. Order execution is fast, which is essential for my short-term strategies. Overall, I’m happy with the HYCM service.

I chose the HYCM broker because of the large number of currency pairs, cryptocurrencies. I like that there is a regulator. Thanks to this, many nuances have faded into the background. During my work, I managed to check how the funds are withdrawn. I can say that quite quickly - two days have passed since I submitted the application - the money came to the card.
There are minor drawbacks - not the most favorable trading conditions, as well as failure and delays of the terminal.
But in general, my review of HYCM can be considered positive.

Forex broker HYCM successfully provides online trading services, is part of the largest financial organization Henyep Capital Markets LLC, which has been operating for about 40 years. There are pros and cons. For example, among the advantages, I single out the fast speed of withdrawal of funds, the absence of requotes even on news, the reliability and guarantees of a licensed broker. The disadvantage of the company is the high minimum deposit on MT4.

I have been trading at Hycm for a long time, as for me, this is the most reliable and oldest broker you can find, and not only on Forex, but also among stock brokers. I trade on a Raw account, mainly in currency pairs, execution is instant, there have never been any questions about the terminal. I withdraw money from the account to the bank, the amounts are not small, so I do not accept brokers with cent accounts, only serious regulation.

Very large swaps and just huge spreads on CFDs of American companies' shares, moreover, you will also get slippage when you open an order. And in general, HYCM has never been famous for the normal execution of trade orders, I regularly read many complaints about them.

Everything is fine in HYCM on demo (like all other brokers), but as soon as you open a real account, something incomprehensible begins. The connection is broken just regularly, when you close a profitable order, you lose so much that the deal becomes unprofitable. Support is far from normal communication, issues are not resolved immediately, but are transferred more often to another day. I don't think that after a year, as I left HYCM, something has changed there.

It is enough to go to the training section, which is constantly updated with relevant webinars and courses, in order to understand what kind of HYCM broker is. Most of the material is freely available, and only here I saw practical advice for traders. And online classes, I first of all advise beginners who have just started trading to go through. It helped me a lot at one time, I also improved my strategy thanks to online classes. As for the broker itself, I traded through it for about a year, then switched to another broker - it is easier for me to conduct calculations, pay taxes, replenish and withdraw profits, and so on. I cannot say that HYCM offers more favorable conditions than other brokers. The only thing is that in 2018 they made the leverage floating for some reason. That is, sometimes I just didn’t have enough margin to open another order and average the position. And that's one of the reasons I left. Of course, if a trading strategy does not use averaging, then floating leverage is not a critical minus.