HYCM’s (Europe) Ltd CySEC license (259/14) is valid in all Member States of the European Union MiFID.
As a regulated platform, they adhere to the policies and requirements set down by the financial regulator, which are designed to protect customers’ interests.
Comprehensive checks by the regulator ensure that all activities of the company are provided with complete fairness and transparency.
Unlike many other FX brokers, by agreeing to the Client Agreement, you are a client of HYCM and given the full protections and benefits of CySEC regulations including:
- As an EU regulated firm, HYCM, is obliged to meet strict financial standards, including capital adequacy requirements. They are required by law to maintain sufficient capital to cover all client deposits, any movements in the firm’s currency positions, and company expenses. As part of its regulatory requirements, the firm submits financial reports to the regulator on a quarterly basis. Any deficiencies are reported to the regulator by an independent external auditor who carries out a comprehensive yearly audit.
- The CySEC has the authority to visit firms unannounced on an ad-hoc basis to check all their records, and client accounts, to ensure the firm is adhering to the highest standards of compliance.
- The Firm has a full-time, qualified Compliance Officer who is independent of management. She reports directly to the Chairman of the Group and ensures compliance with all regulatory responsibilities and fair treatment of clients, including the resolution of clients’ complaints.
- The CySEC requires HYCM to maintain systems and controls for treating customers fairly.
- It is mandatory for external auditors to independently review the accounts and client money procedures and report directly to the CySEC.In order to safeguard the reliability of their finances, they have appointed BDO Ltd (part of BDO International, the fifth largest accountancy network in the world) as their independent external auditors to perform the annual audit.