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HYCMFX

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Operating status: SCAM

Website: https://www.hycmfx.com/

Broker violations and abnormal records
  • 2021-11-24 The UK regulator FCA added HYCMFX into its alert list

    On 25th November 2021, FCA released a notification that HYCMFX is a clone firm. 

    According to the warning, the fraudulent broker HYCMFX (hycmfx.com) is using or giving out some details of authorized companies to try to convince people that they work for a genuine, authorized firm as part of its tactics to scam people in the UK. Therefore, it is a scam. See the warning: https://www.fca.org.uk/news/warnings/hycmfx-clone-fca-authorised-firm.

    On 25th November 2021, FCA released a notification that HYCMFX is a clone firm. According to the warning, the fraudulent broker HYCMFX (hycmfx.com) is using or giving out some details of authorized companies to try to convince people that they work for a genuine, authorized firm as part of its tactics to scam people in the UK. Therefore, it is a scam. See the warning: https://www.fca.org.uk/news/warnings/hycmfx-clone-fca-authorised-firm.
  • 2021-12-01 BrokersView has reviewed that HYCMFX is an unregulated forex broker

    According to its homepage, HYCMFX offers trading in forex, indices, and cryptocurrencies with a 40-year group operational history. Besides, it claims that it is regulated by three of the world's leading financial jurisdictions, their clients can rest assured that they are trading with a safe and secure company. It states that HYCM (has no relationship with HYCMFX) is regulated by by the Financial Conduct Authority of the UK (FCA), Cyprus Securities and Exchange Commission (CySEC), Dubai Financial Services Authority (DFSA) and Cayman Islands Monetary Authority (CIMA).

    However, searching on regulators' page, we found all these regulatory information the fraud claimed belongs to another broker-- HYCM, a regulated entity that has no association with HYCMFX. Therefore, HYCMFX runs without any regulatory license. It means investors' funds in this broker is unsafe and cannot be protected by any laws. 


    According to its homepage, HYCMFX offers trading in forex, indices, and cryptocurrencies with a 40-year group operational history. Besides, it claims that it is regulated by three of the world's leading financial jurisdictions, their clients can rest assured that they are trading with a safe and secure company. It states that HYCM (has no relationship with HYCMFX) is regulated by by the Financial Conduct Authority of the UK (FCA), Cyprus Securities and Exchange Commission (CySEC), Dubai Financial Services Authority (DFSA) and Cayman Islands Monetary Authority (CIMA).However, searching on regulators' page, we found all these regulatory information the fraud claimed belongs to another broker-- HYCM, a regulated entity that has no association with HYCMFX. Therefore, HYCMFX runs without any regulatory license. It means investors' funds in this broker is unsafe and cannot be protected by any laws. 
  • 2022-07-05 BrokersView has found that HYCMFX is not working

    On 6 Jul 2022, BrokersView found the domain https://www.hycmfx.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    On 6 Jul 2022, BrokersView found the domain https://www.hycmfx.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

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