BrokersView
Search
Download
English
Sign In

Hycmarket.com

Save

Operating status: SCAM

Website: https://hycmarket.com/

Broker violations and abnormal records
  • 2022-11-15 The UK FCA Warns that Hycmarket.com is a Clone Firm

    On 15 Aug 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Hycmarket.com was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm. You may visit: https://www.fca.org.uk/news/warnings/hycmarketcom-clone-fca-authorised-firm

    On 15 Aug 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Hycmarket.com was a clone firm. The fraudster was using the details of firms UK FCA authorise to try to convince people that it works for a genuine, authorised firm. You may visit: https://www.fca.org.uk/news/warnings/hycmarketcom-clone-fca-authorised-firm
  • 2022-11-16 BrokersView has Reviewed that Hycmarket.com is an Unregulated Forex Broker

    Hycmarket.com claims to be a licensed broker under multiple regulations including: 

     1) the United Kingdom Financial Conduct Authority (UK FCA), No. 186171; 

     2) Cyprus Securities and Exchange Commission (CySEC), No. 259/14;

     3) the Cayman Islands Monetary Authority (CIMA), No. 1442313;

     4) the Dubai Financial Services Authority (DFSA), No. 000048. 

    After our investigation, however, we found the websites approved by FCA and CySEC were not Hycmarket.com. That means the broker was not authorized by the regulators to provide financial services. 

    In addition, we did not find any results that matched this broker in DFSA (the company named: Henyep Capital Markets (DIFC) Limited), and no address or website could be confirmed in CIMA. 

    Moreover, FCA issued a warning that Hycmarket.com was a clone firm. The fraudster was using the details of firms UK FCA authorized to try to convince people that it works for a genuine, authorized firm. 

    The truth is that Hycmarket.com is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

    Hycmarket.com claims to be a licensed broker under multiple regulations including:  1) the United Kingdom Financial Conduct Authority (UK FCA), No. 186171;  2) Cyprus Securities and Exchange Commission (CySEC), No. 259/14; 3) the Cayman Islands Monetary Authority (CIMA), No. 1442313; 4) the Dubai Financial Services Authority (DFSA), No. 000048. After our investigation, however, we found the websites approved by FCA and CySEC were not Hycmarket.com. That means the broker was not authorized by the regulators to provide financial services. In addition, we did not find any results that matched this broker in DFSA (the company named: Henyep Capital Markets (DIFC) Limited), and no address or website could be confirmed in CIMA. Moreover, FCA issued a warning that Hycmarket.com was a clone firm. The fraudster was using the details of firms UK FCA authorized to try to convince people that it works for a genuine, authorized firm. The truth is that Hycmarket.com is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.
  • 2022-12-06 BrokersView has found that Hycmarket.com's domain is not working

    On 7 Dec 2022, BrokersView found that the domain of Hycmarket.com (https://hycmarket.com/) was invalid. 

    The domain may just be suspended, but the invalidation of a broker's domain is often a bad sign.

    On 7 Dec 2022, BrokersView found that the domain of Hycmarket.com (https://hycmarket.com/) was invalid. The domain may just be suspended, but the invalidation of a broker's domain is often a bad sign.

Related Complaints

Q&A

Is the broker regulated by FCA?

mahesh ch
Grevenmacher
2022-11-21
ANSWER Hycmarket.com is not a licensed or regulated broker even though it states offers that look good to be true. Hycmarket.com claims to be a licensed broker under multiple regulations including: 1) the United Kingdom Financial Conduct Authority (FCA), No. 186171; 2) Cyprus Securities and Exchange Commission (CySEC), No. 259/14;3) the Cayman Islands Monetary Authority (CIMA), No. 1442313;4) the Dubai Financial Services Authority (DFSA), No. 000048. We indeed found match results to all four license numbers in the above watchdogs. But we found the approved websites of the licensed firm in FCA and CySEC were not Hycmarket.com. And the license number 000048 in DFSA matches a company named "Henyep Capital Markets (DIFC) Limited." As for regulation in CIMA, we found no address or website could be confirmed provided by CIMA to verify. Moreover, FCA issued a warning against Hycmarket.com for being a clone firm. FCA states that the fraudster was using the details of firms UK FCA authorized to try to convince people that it works for a genuine, authorized firm. You can check the full warning from here.The truth is, Hycmarket.com is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Hycmarket.com and trade with licensed brokers.
See more

comments

Be the first to review.
Rate and Review

Your review

App Store

Google Play

Company Shop Application About Us Our Methodology Privacy Policy Contact Us

Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.