HYCM

Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?

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    Обзор брокера HYCM – 100% развод на деньги, отзывы инвесторов о финансовых убытках

    HYCM, известный как многорегулируемый брокер в области торговли на Форекс и CFD, представляет собой проект с более чем 40-летним опытом в финансовой сфере. Этот контрагент ориентирован на предоставление услуг как новичкам, так и опытным трейдерам, предлагая доступ к глобальным рынкам через свою награжденную платформу. Заявления администрация не соответствуют реалиям, ведь на практике сотрудники компании сливают деньги инвесторов. 

    Status

    SCAM

    Year of foundation

    1993

    Affiliate program

    Yes

    Regulation and jurisdiction

    UK (FCA), Cyprus (CySEC), Caymanes (CIMA), Dubai (DIFC), SVG (FSA)

    Website

    hycm.com

    Contacts

    Country: UK

    City: London

    Адрес: 27–28 Clement’s Lane, St Clement’s House

    Phone: +44-208-816-7812

    Pros
    • MT4 and MT5 support
    Cons
    • Fake licenses
    • Fraud with quotes
    • No cashout
    Trading Platform

    HYCM Trader, MT4, MT5

    Types of accounts

    Fixed, Classic, Raw

    Currency

    USD, EUR, GBP, AED, JPY

    Deposit/withdrawal

    Bank Transfer, Visa, Mastercard, Crypto, Skrill, Neteller, WebMoney, Perfect Money, AstroPay, PayTrust, FasaPay, ZOTAPAY, LIPI

    Min Deposit

    $20

    Leverage

    1:500

    Min order

    0,01

    Spread

    Up 0,4 pips

    Financial Instruments

    CFD Forex, stocks, indices, cryptocurrencies, commodities

    Bonus

    Yes

    What is known about the HYCM broker

    The project administration calls itself a multi-regulated broker, which means it has licenses from various financial regulators. This provides an additional level of trust and security for customers, as the company is subject to strict regulatory requirements. The website states that it has received certificates from the following auditors:

    • FCA;
    • CySec;
    • UP;
    • DFSA.

    Moreover, the office is registered in offshore jurisdictions – Saint Vincent and the Grenadines. The listed licenses are just a marketing ploy to attract the attention of investors. In reality, sharaga operates illegally in absolutely all jurisdictions. You can verify this by checking the registers of the listed regulators.

    The administration declares the company’s communication skills HYCM official website provides various communication methods for its clients:

    • e-mail;
    • hotline;
    • online chat.

    However, you cannot count on prompt and competent service. Users complain about the low efficiency of the company’s support.

    HUSM, with over 40 years of experience in the financial industry, has a long history of providing brokerage services. This indicates the stability and reliability of the company in the industry.

    Sharaga tries to differentiate itself from other brokers through its years of experience, wide range of trading tools and global reach. The company also promises competitive spreads and low commissions, making it attractive to traders of various levels. However, these are all fictitious advantages.

    There is no real trading on the counterparty platform. Fraudsters do not have the ability to ensure that client orders are transferred to the interbank market. Therefore, they create a trading simulation, trading against clients. In such conditions, deposits are lost. In Russia, the office operates illegally; the project does not have a license from the Central Bank of the Russian Federation.

    HYCM trading conditions

    The company promises to provide traders with a diverse trading experience, including the choice between several types of trading accounts and access to various platforms. Clients can trade on the popular MetaTrader 4 and MetaTrader 5 terminals, which are known for their functionality and convenience for users of different levels.

    Traders are offered three types of trading accounts:

    • Fixed – fixed spreads from 1.5 points and is available only with the base currency USD;
    • Classic – Floating spreads from 1.2 pips and available in several currencies including EUR, USD, GBP, AED and JPY.
    • Raw features very low spreads from 0.1 pips and a commission of $4 per round of trading.

    HYCM also offers the ability to trade a wide range of instruments, including currency pairs, metals, energy, commodities, indices, stocks and cryptocurrencies. This provides traders with flexibility in choosing investment strategies and portfolio diversification.

    Key trading parameters:

    • minimum deposit: $20 for all account types;
    • leverage: up to 1:500;
    • spreads: from 0.1 points on Raw accounts to 1.5 points on Fixed accounts;
    • additional commissions: $4 per round on Raw accounts;
    • Available instruments: include forex, metals, energy, commodities, indices, stocks and cryptocurrencies.

    Fraudsters do not disclose liquidity providers because they manage quotes themselves. For them, this is another opportunity to turn a potentially profitable trade into a loss. Therefore, it is dangerous to trust money HYCM personal account on this site will only lead to financial losses.

    HYCM broker exposed

    Although the company is a multi-regulated broker with a long history of operation, it faces a number of issues that cause concern among investors. One of the key disadvantages is the use of wide spreads, which limits traders’ options, especially when trading short distances. This results in increased trading costs and decreased potential profits.

    There are concerns about off-market quotes and widening spreads even in calm conditions. Such fraud indicates questionable operating practices, including interference with the execution of orders. There have also been cases where stop orders were triggered unpredictably, resulting in unexpected losses for traders.

    The broker does not have the right to work in Russia, which calls into question the protection of the interests of clients from the Russian Federation. The lack of legal protection in this region creates additional risks for investors. The company is an offshore broker, which raises additional concerns about the transparency and reliability of its operations. These firms are often subject to less regulation, which increases the risk for investors.

    The above arguments show the real risks of working with a broker HYCM investments opening a trading account is an extremely reckless decision. Office employees withhold hidden fees and taxes from clients. They are ready to come up with the most absurd reasons to take absolutely everything from the trader to the last penny.

    Expert opinion

    Eugene Rudenko

    The broker claims to have received licenses from leading financial sector regulators, but this information is not true. HYCM – the most ordinary forex kitchen, which was originally created to scam gullible beginners out of money. No one has yet managed to make money trading on this platform. Sharaga makes money from users’ losses.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Reviews about the broker HYCM

    Users highlight a number of difficulties in working HYCM reviews detail the high non-trading risks. One of the main concerns is the offshore status of the company. The organization does not publish financial statements, information about the authorized capital and founders of the project. This raises concerns among traders, especially in the context of global trading.

    High spreads, which some users mention, are also a significant problem, making trading less profitable, especially for private traders with relatively small starting capital. This significantly increases trading costs and reduces potential profits. The dubious reputation and lack of guarantees cited by investors indicate a lack of transparent service and dubious operating practices of the sharaga.

    Incorrect closing of trades and problems with pending orders are also a concern. These issues clearly illustrate technical shortcomings of the platform or deliberate interference on the part of the broker. The high minimum deposit, which is a barrier for newbies and private investors, is also a subject of criticism.

    Finally, differences in trading between demo and live accounts, especially regarding stop orders, indicate systematic manipulation on the part of the broker. These reviews highlight the importance of carefully reviewing the terms and conditions of working with a broker and the potential risks associated with trading through HYCM, and emphasize the need for potential clients to conduct their own research and consult with independent experts before deciding to engage with this counterparty.

    Conclusion

    Company HYCM came up with a legend that newcomers are willing to follow. However, the truth is that this is a completely fake project created by scammers to cheat newcomers out of money. If you have lost your savings due to the fault of representatives of this scam, Contact us and our specialists will help you make a chargeback. Forcibly canceling the transaction is the only way to get your money back.

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    FAQ

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    How do customer reviews about HYCM affect the company's rating?

    Customer reviews are one of the main criteria that influences the placement of a broker in the ranking of the best companies. You can see all reviews about HYCM on the company profile page.

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    How to write a review about cooperation with HYCM on the Forex Rating website?

    Register on the Forex Rating website – it’s free and takes up to 5 minutes, taking into account the registration confirmation via the link that will be sent to your email. Detailed instructions on how to leave a review about HYCM can be found here.

    Reviews

    All Reviews

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