HYCM BOT Review : Fees, Pros and Cons, Reviews by Real Traders

HYCM BOT

Operating status: SCAM

Website: https://hycmbot.com/

Broker violations and abnormal records

Sep 21, 2022 The Cyprus CySEC Added HYCM BOT into Its Warnings
On 22 Sep 2022, Cyprus Securities and Exchange Commission (CySEC) issued a warning that HYCM BOT does not belong to an entity that has been granted authorization for the provision of investment services. You may visit: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=9a2a4281-c784-4f2e-a78b-37480ffe74b3

On 22 Sep 2022, Cyprus Securities and Exchange Commission (CySEC) issued a warning that HYCM BOT does not belong to an entity that has been granted authorization for the provision of investment services. You may visit: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=9a2a4281-c784-4f2e-a78b-37480ffe74b3
Sep 25, 2022 BrokersView has Reviewed that HYCM BOT is an Unregulated Forex Broker
First, HYCM BOT claims that it has beening providing trading service since 1977. However, we checked its domain and found the domain has been created in 2022. How could it start the business beforex this year? It is a red flag.
Moreover, the broker claims to be registered in Saint Vincent and the Grenadines, No.25228 BC 2018. So we searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found a matching result. However, please be informed that SVG FSA is not a forex regulator and having the registration does not mean being authorized to provide financial services.
In addition, HYCM BOT also claims to be regulated by the United Kingdom Financial Conduct Authority (UK FCA), Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), and the Cayman Islands Monetary Authority (CIMA).
We searched UK FCA, DFSA and CIMA but did not find any results that matched this broker. That means the broker is not regulated by the regulators.
What's more, CySEC issued a warning that HYCM BOT does not belong to an entity that has been granted authorization for the provision of investment services.
The truth is that HYCM BOT 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.

First, HYCM BOT claims that it has beening providing trading service since 1977. However, we checked its domain and found the domain has been created in 2022. How could it start the business beforex this year? It is a red flag.Moreover, the broker claims to be registered in Saint Vincent and the Grenadines, No.25228 BC 2018. So we searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found a matching result. However, please be informed that SVG FSA is not a forex regulator and having the registration does not mean being authorized to provide financial services. In addition, HYCM BOT also claims to be regulated by the United Kingdom Financial Conduct Authority (UK FCA), Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), and the Cayman Islands Monetary Authority (CIMA).We searched UK FCA, DFSA and CIMA but did not find any results that matched this broker. That means the broker is not regulated by the regulators. What's more, CySEC issued a warning that HYCM BOT does not belong to an entity that has been granted authorization for the provision of investment services. The truth is that HYCM BOT 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.

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