HYCM

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.