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.
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