A Hycm scam is not a company that has no trading tools. However, the trading tools on their website are limited. In addition, they offer only five account types, each with a different minimum deposit amount. As a result, there is a high probability that they are a scam.
HYCM is not a scam
HYCM is a regulated broker with over 10,000 registered users and an excellent reputation in the industry. All of its operations are overseen by top financial authorities. It offers multiple deposit and withdrawal options, including e-wallets and traditional banking. Withdrawals are usually processed within a few days, though they can take up to seven days to reach your bank account.
The HYCM website is easily navigable and has plenty of help options. A search bar is available, and the FAQ section is divided into categories. The Help Centre also links Getting Started, Education, and Forms & Documents.
HYCM is not greedy
HYCM is a licensed broker based in Saint Vincent and the Grenadines. It offers several deposit methods, including credit cards and e-wallets. Its trading platforms are supported in multiple languages, including Swedish, English, German, French, Spanish, Portuguese, Russian, Czech, and Persian. In addition, it offers free and instant funds transfers for its clients.
HYCM has a reputable reputation in the forex industry and excellent customer support. Its fee structure is reasonable, and it offers several account types to fit the needs of different traders. It also offers a demo account for new traders to practice trading in a risk-free environment.
HYCM charges transaction fees
HYCM is an online brokerage with several fees associated with it. These fees can include commissions, spreads, and financing rates. The commissions are paid when you trade and vary according to the volume of money you are trading. The financing rate is applied to leveraged positions held for more than a day. Other fees may include non-trading fees related to accounting operations or withdrawals made for extended periods.
The fees associated with HYCM trading depend on the type of account you open. For example, if you are looking to trade CFDs or forex, a fixed account may cost you 1.8 pips. However, a classic or raw account may require you to pay a higher spread if you want to ensure a more stable price.
HYCM blocks a client’s account
HYCM is a forex trading broker headquartered in London, United Kingdom. It has been operating in the forex industry since 1977. It provides clients with all the tools and information necessary to make informed trading decisions. It is a part of the Henyep Capital Markets Group, a global investment and services company with offices in Cyprus, Hong Kong, and the United Kingdom.
There are a large number of complaints against HYCM. Most of them are beginners and inexperienced traders. These people have lost a considerable amount of money to HYCM. In such a case, it is important to withdraw all the funds from your account. In this way, you can prevent the breakdown of your account. However, if your account has already been compromised, you should not wait to call the company to alert the authorities.
HYCM steals credit card data
The HYCM scam, a scam that steals credit card data from unwitting clients, was recently exposed. Scammers have cloned the legitimate HYCM website and are tempting victims by claiming to be an authorized provider. The Financial Conduct Authority has issued warnings over this fraudulent scheme and has added HYCMCapitalMarkets to its list of dubious brokers. The fraudulent site takes advantage of the firm’s reputation by using the official website address and regulatory license numbers. However, the real HYCM is a global corporation founded in 1977, with operations in Asia, Europe and the Middle East.
The HYCM website asks for personal details such as passport, national ID, driver’s license and utility bills. It also requires a bank statement to verify residency. The HYCM website offers a variety of deposit and withdrawal options, including e-wallets and traditional methods. It also supports multiple account currencies.