Reviews about HYCM (HY Markets)

HYCM broker review

HYCM is a broker that has been successfully robbing traders since 1977! The number of deceived merchants during this time has already exceeded tens of thousands! Perhaps this is why these scammers do not even cover themselves with offshore addresses - there is not a single address on the site and no phone number is specified. This is the kind of insurance that no one will find them for sure. All that is available to the client is to write to online support, where your message will not even be considered by anyone. They have already received the money, so why waste your precious time on you if you can promote a new sucker?


The whole Internet is full of negative reviews about HYCM, but there are still people who believe in the promises of huge earnings and spend quite a decent amount in this office.

How to identify a Scam broker

It is not easy to distinguish and choose a quality broker instead of a kitchen. Many believe that it is enough to go through a couple of forums and youtube channels to identify the most cherished company to start trading. But not many people think about the fact that most of these “opinion leaders "" are ordinary info-Gypsies who are sold for a pretty amount of money. Some novice traders prefer to go to the VA-Bank and start trading with a much-vaunted broker, not even realizing that they will feel all the delights of the kitchen only after a while, when they realize that investing large deposits should lead to “successful” trading.

In fact, there is a whole gradation of fraudulent actions in relation to traders, this includes:

• fictitious or falsified quotes that are specially tailored to the broker;
• overly "profitable" bonus program, which begins to operate after investing a large Deposit, but if the conditions are not met, all the money will automatically go back to the broker, and even with additional interest;
• a clause in the "User agreement" that allows the broker to fully manage the client's money.

Above, we described the technology for clearing client pockets based on the HYCM (HY Markets) broker principle. In order not to fall into such a kitchen, you need to pay special attention to their work activities, as well as check all the documentation and make sure that the license is valid. In addition, if you think that you need to take reviews to pay attention, you need to find them not only on the broker's portal, but also on other information resources.

What you should pay attention to when analyzing the broker HYCM (HY Markets)?

If you decide to visit the company's website, you should pay special attention to the footer. For those who don't know, a footer is a small text at the bottom of a page that is usually written in small print and includes brief legal information. After reading the text, it is worth coming to the conclusion that HYCM (HY Markets) only performs intermediary functions for traders to enter various world exchanges, however, if the trader faces any difficulties, then nothing will depend on the broker.

Here is a simple example. If you didn't know, many Forex brokers prefer to perform operations on the market, but only on paper. How it works: the client deposits a Deposit for a certain amount and starts trading, the broker, in turn, pretends to perform operations, although in fact it is only a dummy. Thus, the client's money is in the company's turnover. In addition, the Client may be exposed to falsified quotes, due to which the dealing center will earn on the price difference.

In addition, professional traders understand that Forex trading involves high risks, so it often happens that most clients lose their deposits in the first stages of trading. And instead of earning a percentage of the transaction, many companies prefer to bypass the system, that is, buy when the client sells and submit when the client buys, whereby the amount automatically becomes the property of the broker.

Consider the deception with the substitution of quotes for a special EURDKK pair: a certain broker on the trading platform, despite the fact that this asset is rigidly fixed by the Danish Central Bank (nationalbanken.dk) at the level of 7.46038 CZK per 1 Euro (blue line on the chart). From the chart, you can understand that the Scam brokers quotes do not coincide with reality and the Danish Krona either falls below 7.30 or grows more than 7.56. And on a large volume, this is a huge amount and a merged Deposit of a naive trader!

To summarize, the top most common fraudulent operations of Forex brokers:

• forged documents, license, documents, certificates;
• conflict situations that have become sensational events (court proceedings, a large number of negative reviews, complaints from customers)
• Being blacklisted By the center for regulation of OTC financial instruments and technologies;
• registration of a dealing center in an offshore zone (in fact, the presence of a company in an offshore zone is not always a bad thing, however, most often it indicates that the company is a kitchen);
• fast capital gains that include low commissions, promotions, bonuses, and prizes that can only be obtained by investing additional funds.

FAQ - questions about HYCM broker (HY Markets)

1. How do reviews affect the rating of HYCM (HY Markets)?

The more negative reviews about a broker, the worse its rating on the Internet. Thus, we can once again confirm the words described above!

2. Who can leave reviews about HYCM brokers (HY Markets) on the website?

Every trader who has encountered this financial Scam can write not only to us in support, but also on the broker's page in the reviews section at the bottom of the site. The comment must be objective and the trader is or was a client of the fraudulent organization he is reviewing. Reviews can be moderated and deleted if we detect any attempts to cheat.

3. Broker HYCM (HY Markets) a fraud like everyone else?

Every broker is a financial fraudster. Traders should understand that the broker sets risk levels and the percentage of successful transactions in its platform. What gives the company earnings and does not allow traders to earn money. As soon as the company sees that the client goes to a huge plus, the 'chipper' system is triggered. in our opinion, this is just a 'bump' and the trader's account merges into 0. In the best case, the chart tends in a different direction and the trader ceases to make a profit, and begins to incur losses. Each broker has its own limits someone has $ 300 (Forex kitchens) someone has $ 3000 (experienced Forex kitchens). In any case, the broker always wins, and the trader loses his capital! Be careful! Do not put money in the pockets of scammers on their own! Hycm (HY Markets) is no exception)