HYCM – Is it scam or safe?

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HYCM – Is it scam or safe?

The company is licensed in several countries and is regulated by the relevant financial supervision commissions. Licenses allow it to conduct financial services, including forex.

However, there are some publications in forex forums that inform about bad practices related to poor customer support, money withdrawal difficulties, fake positive reviews and rejecting profits considering them as manipulation of market information. Moreover, there are recommendations not to deal with this company.

So far, we haven’t received any complaints from clients of HYCM.com.

If you feel frustrated by HYCM.com and have something to share with us, please fill in the form below, describing your case:

5 Complains

  1. HY Markets is a big scam! I had a profit of more than USD7K during the FOMC news evet. HYCM cancelled all my profit. Why?? They told me the reason was: “consistent with the manipulation of market information or data”. BIG BIG SCAM! Stay away!

  2. Stay away! Until you have losing deals only, order execution is OK although the times were above the average. When you start making profits, you will be marked as “toxic” and the execution times will rise to more than 5 seconds. Imagine to trade when your orders are not being filled within 5 seconds! If you still have balls your execution time will rise to 30 seconds. YES, 30 seconds! This is a pure scam!

  3. Their trading platform is unreliable and orders are executed with a lot of delay. Maybe this is done purposely but this is annoying. Also, a lot of error messages appear nonstop. Keeping all this in mind you won’t be sure whether your order is executed. Do not use them. There are many other brokers!

  4. I have a problem with HYCM and I think everyone of their clients do. They provide a lot of fake quotes and reject your orders. Sometimes order fulfillment lasts 10 seconds and more. Reject, reqote…. They have some compensation rules but on paper only. They do not comply with them at all. I asked for some compensation for all this fake qoutes but I was denied. Do not use this broker! It will get your money without any care of its quality services.

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