HYCM

HYCM Limited is a forex and CFD broker registered in the United Kingdom, with its official website at hytrade.me. The company was founded on 11 May 2022, making it a relatively new entrant in the online trading space. Its registered address is 18 King William Street, London, EC4N 7BP, United Kingdom.

According to our records, HYCM Limited holds three regulatory licences: one from the UK Financial Conduct Authority (FCA), one from the Cyprus Securities and Exchange Commission (CySEC), and one from the Cayman Islands Monetary Authority (CIMA). These are significant regulatory credentials, though the specific licence numbers are not published in our records. The company lists no employees in our data, which may indicate a small operational footprint.

HYCM Limited is regulated by three authorities: the FCA in the United Kingdom, CySEC in Cyprus, and CIMA in the Cayman Islands. The FCA licence is for Market Making (MM) activities, the CySEC licence is for Forex Execution License (STP), and the CIMA licence is for Derivatives Trading License (EP). These licences suggest the broker is authorised to offer trading services in multiple jurisdictions.

However, our records also flag HYCM as a 'Fake Broker' in industry watchdog records and identify it as a clone or impersonator firm. This is a serious concern, as it suggests the entity may not be the legitimate holder of these licences, or that it is misrepresenting its regulatory status. Traders should exercise extreme caution and verify the broker's credentials directly with the regulators.

HYCM offers three account types: RAW, CLASSIC, and FIXED. The RAW account requires a minimum deposit of $200 and offers a minimum spread from 0.1 pips, with a commission of $4 per round turn. The CLASSIC account has a minimum deposit of $100 and a minimum spread from 1.2 pips, with no commission mentioned. The FIXED account also requires a minimum deposit of $100 and offers a minimum spread from 1.5 pips, with no commission.

Maximum leverage is not disclosed in our records, and the broker does not specify the trading platforms, instruments, or deposit/withdrawal methods. This lack of transparency is notable, especially for a broker that claims to be regulated by major authorities.

Our records do not list the trading platforms or instruments offered by HYCM. Typically, forex brokers offer platforms like MetaTrader 4 or 5, but we cannot confirm this for HYCM. Similarly, the range of instruments—such as forex pairs, commodities, indices, or cryptocurrencies—is not specified.

Given the lack of public information, traders should be cautious about what they can expect in terms of trading functionality. The absence of this information in our records, combined with the risk flags, suggests that the broker may not be fully transparent about its offerings.

Deposit and withdrawal methods for HYCM are not listed in our records. This is a critical gap, as traders need to know how they can fund their accounts and withdraw profits. Without this information, it is impossible to assess the convenience or reliability of the broker's payment processes.

The lack of disclosed funding methods, along with the other missing details, adds to the overall uncertainty surrounding this broker. In our assessment, this is a significant red flag, as legitimate brokers typically provide clear information about banking options.

HYCM Limited was founded in 2022, and its registered office is in London. The company has a social media presence on Facebook, Instagram, LinkedIn, Twitter/X, and YouTube, which suggests some level of marketing activity. However, our records show zero employees, which is unusual for a broker claiming to be regulated by multiple authorities.

The combination of a recent founding date, no employees on record, and the risk flags from industry databases paints a concerning picture. While the company may have a legitimate intention, the lack of verifiable operational details is worrying for potential clients.

FXCanary's Scam Risk Score for HYCM is 85 out of 100, indicating a severe risk. The broker is listed as a 'Fake Broker' in industry watchdog records and has been identified as a clone or impersonator firm. These flags are serious and suggest that the entity may not be the legitimate HYCM brand, which is a well-known broker with a different domain (hycm.com).

Traders should be extremely cautious when considering HYCM Limited (hytrade.me). We strongly recommend verifying any regulatory claims directly with the FCA, CySEC, and CIMA before depositing funds. The absence of independent reviews and the presence of impersonation warnings are significant red flags that cannot be ignored.