There are quite a few dubious organizations on the web, and HYCM is one of them. This is another brokerage project that is aimed at wealthy newcomers. The analysis allows us to conclude that it has an ambiguous reputation and some fake reviews. In today’s article, we will describe what a registered client actually gets and whether it is worth becoming part of the HYCM system.
What characterizes a brokerage project?
HYCM calls itself a well-known and reliable broker. At the moment, the company has 40 years of experience and has achieved significant results in market trading. It provides a first-class experience for clients who are determined to succeed in global markets. Among its features, HYCM names:
- Spreads start from 0.1 pips. This allows you to get the maximum benefit from market trading.
- The average order execution time is 12 ms. The rapid entry of orders to the global market ensures the clear implementation of any strategy.
- The market player receives over 100 trading instruments.
These and other advantages really play an important role when choosing an exchange intermediary. Also, the trader should read customer reviews in advance. On independent web portals, you can read quite a lot of comments about the advantages and disadvantages of the project. In this case, it will be useful to pay attention to brand documents. If the company operates without licenses and prescribes suspicious clauses in the client agreement, then it is better to refuse cooperation.
Description of platforms and conditions
HYCM offers to carry out transactions through the standard Metatrader 4 system. It provides access to numerous products, including currency pairs, stock indices, stocks, digital coins, commodities, and more. All financial assets can be traded from a single account, which is very convenient for diversifying investments. At the same time, it should be noted that the brokerage terminal has the necessary functions for a detailed analysis of the global market.
Metatrader 4 allows you to use indicator programs and robotic systems. They will tell you at what point it is better to enter international markets. The merchant will receive clear recommendations for action, and in some cases will even be able to automate their work. The platform provides many features for different skill levels. It is downloaded to the phone or any other device at the request of the client.
Depending on the selected account, the market player receives certain trading conditions. Expensive accounts allow you to carry out transactions with minimal commissions and the fastest possible speed. The company has set a relatively low entry threshold of $100. It allows you to switch to an Islamic account after submitting a certain application. The exchange intermediary actively advertises its services, but registration should be done only after a detailed analysis of the project.
What is being said about the HYCM project?
Market players complain about the intrusive work of employees. Brand representatives call a potential client and offer their services. This quickly gets boring, but managers do not stop trying to lure a person into their system. They do not respond to refusals, and the current trader cannot hang up. As a result, he is compulsively offered unnecessary account options, for which he will need to pay.
The office allows you to read the user agreement, but not all clients carefully read the document. It turned out that there is one interesting clause in the contract, with the help of which you can quickly block a client account. Employees of the office can take away the account if they consider the client’s actions suspicious or fraudulent. The market player talks about his story, the loss of a large amount. He received a warning about the freezing of his account. He tried to figure it out, but in the end the account was completely blocked.
The intermediary closes some accounts without warning. Practice shows that withdrawing your deposit is almost impossible. Some applications are not considered, while others are delayed for several weeks. Experts advise to refuse cooperation with HYCM.
Despite numerous complaints, some traders leave positive comments. They believe that the company is quite normal. If you do not find fault too much, then the cooperation is going quite well. There is a possibility that such reviews are winding up and do not reflect the real state of affairs at all.
Is it worth registering in the HYCM system?
The analysis allowed us to conclude that we are facing a typical scammer. He engages in brazen deception, telling potential clients about lofty goals and superior quality of service. In fact, the market player is waiting for freezing terminals and problematic withdrawals. In most cases, the client fails to withdraw their money. All finances go to the project accounts and stay there forever. The office does everything to deprive its user of savings. Cunning managers call with “good deals” and consultants refuse to understand the problems. We recommend avoiding dubious brands, because everything points to the criminal fraud of HYCM.