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No Regulation
Score
1.44 /10
Danger
HYCM
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Influence
D
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index6.42
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
Check whenever you want
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Warning: Low score, please stay away!
Previous Detection :
2024-11-18
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| HYCM | Basic Information |
| Registered Countries | China |
| Regulation | No regulation |
| Minimum Deposit | Not specified |
| Maximum Leverage | 1:200 |
| Minimum Spread | Not specified |
| Trading Platform | HY Trader MT4 (Desktop, Mobile, Web) |
| Trading Assets | Forex, Precious Metals, Crypto, CFDs, Indexes, Stocks |
| Payment Methods | Not specified |
| Customer Support | Phone, Email, Online Chat (24/5 support) |
| Bonus Available | Yes (up to $5,000 sign-up bonus) |
HYCM Information
With HYCM, investors can trade CFDs, cryptocurrencies, precious metals, and forex. We offer 1:200 leverage and MT4 support. Trader safety is a problem due to the absence of FCA and ASIC monitoring.
Pros and Cons
| Pros | Cons |
| Different trading assets | Not regulated |
| Leverage-rich options | Limited information on account types |
| Supports MT4 platform | Little details on payment options |
Is HYCM Legit?
China is the nation where HYCM was registered; it is not governed there either. Moreover, it lacks official control right now from important institutions like the FCA and ASIC. This begs grave issues about its legality and safety for traders.
Registered on March 16, 2018, xingyewaihui.com will expire on March 16, 2026. Having registered with Hefei Juming Network Technology Co., LTD., it is currently active under the client Transfer Prohibited status, which forbids any illegal alterations or transfers.
What Can I Trade on HYCM?
With HYCM, you can trade in more than 20 different currency pairs, precious metals, equities, indexes, and even crude oil.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities (Precious Metals) | ✔ |
| Crypto | ✔ |
| CFD | ✔ |
| Indexes | ✔ |
| Stocks | ✔ |
| ETFs | ❌ |
Leverage
HYCM offers 1:200 leverage, letting traders handle greater positions with less capital. Higher leverage can boost earnings but also magnify losses, making it risky for traders.
Edurational Resources
Many instructional materials are available on HYCM, such as Forex lessons, starter manuals, webinars, market analyses, and live broadcasts.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| HY Trader MT4 Desktop | ✔ | PC | Traders requiring thorough analysis |
| HY Trader MT4 Mobile | ✔ | Smartphones, Tablets | On-the-go trading |
| HY Trader MT4 Web | ✔ | Any web browser | Casual traders can trade from any device |
Customer Service
HYCM provides round-the-clock customer service from Monday through Friday.
Phone, email, and live chat are all ways to get in touch with support.
| Contact Options | Details |
| Phone | 18191026423 |
| info.cn@hycm.com (General) | |
| Support Ticket System | Not provided |
| Online Chat | Available via website |
| Social Media | Not provided |
| Supported Language | Chinese |
| Website Language | Chinese |
| Physical Address | London, UK |
Promotion
HYCM offers a sign-up bonus up to $5,000 for new customers.
The Bottom Line
Experienced traders familiar with high leverage and a large choice of assets will find HYCM most suitable. Its lack of main control and safety issues could make it inappropriate for beginners or risk-averse traders.
FAQs
Is HYCM good for beginners?
The high leverage and lack of transparency may make it unsuitable for beginners.
Is HYCM good for day trading?
Yes, HYCM's platform and asset offerings are suitable for day trading.
Is it safe to trade with HYCM?
Due to the absence of major regulatory oversight, trading with HYCM carries significant risk.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client.
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