In this article, we will be talking about one of the best-known brokers in the forex trading industry. HYCM has two licenses and two offices, one in London and the other one in Limassol, and over the last couple of years they have certainly built up their reputation among traders. In this short analysis, we’ll present the results of our tests of this broker’s security because our team went in and created trading accounts in order to try everything this company offers! Want to learn more? Continue reading our “Is HYCM a Scam?” article and learn from our experience!
Is HYCM a Scam? | MT4 and Mobile Trading
We’ll start our “Is HYCM a Scam?” analysis with the most important part of the trading process on this website – the trading platform. We tested it very thoroughly and talked about it in our HYCM Review 2017, but in short we can say that it works perfectly. HYCM uses the MetaTrader 4 trading platform, probably the most popular trading platform in the industry which has many cool options and features you’ll certainly want to utilize in your trades. It also comes as an app, but in both cases you can count on superb execution and loads of data coming your way. We never saw the slightest trace of any kind of HYCM scam or fraud, so you can rest assured you will be in good hands every step of the way.
Is HYCM a Scam? | Regulation
The second important feature we have to mention is this analysis is regulation. It’s quite important to have a safe broker on your side, and HYCM definitely fits the description. Not only is it fully regulated, but HYCM is regulated by two different agencies – the Cyprus Securities and Exchange Commission and the Financial Conduct Authority of the UK! That’s why you can be 100% sure that everything that has to do with HYCM is completely legal.
Furthermore, the broker uses 128-bit encryption which ensures that all the data you share is perfectly safe. The broker has partnered up with VeriSign, the company that operates network infrastructure, so you can once again be sure completely safe. This ties in nicely with the final part of this article, so stay just a bit more.
Is HYCM a Scam? | Transactions
There’s only one more thing left to talk about: the monetary transactions. We’ve tried both to deposit and to withdraw more than once and can say that everything works perfectly once again. Our money was in our hands, and in our accounts in a very short period of time (a couple of working days) and we experienced no problems whatsoever. The company accepts various methods of monetary transactions and various currencies, so you’ll always have several options to choose from. We can conclude that it’s very easy to do business with this company and asking is HYCM a scam at this point seems completely unnecessary.
Is HYCM a Scam? | Conclusion
Is HYCM a scam? Well, we can honestly say that the answer is no and that we are very, very satisfied with this broker. You get everything it takes to be an excellent broker here. When you open an account, you’ll be trading on a very sophisticated MT4 trading platform that’ll provide you with the best possible trading experience, no matter if you’re trading from your computer or a mobile device. Furthermore, we need to say that HYCM’s support team is always at your disposal: they are reliable and quick in handling situations. It’s also very easy to fund an account here and the company is fully regulated and completely safe, so you definitely won’t regret choosing them as your broker. Trust us, open an account with HYCM and start trading here today!