HYCOINEX has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After using HYCOINEX for about ten months, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Dividend tracking|Good mobile app|Good analytical tools|API access
Cons: Wait times can be long during peak hours|No live chat on mobile
I have been trying to close my account with HYCOINEX for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Wide product range|Social trading features|Automated trading options|Multi-currency support
Cons: Withdrawal takes 1-2 business days
I was about to invest with HYCOINEX but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Comisión Nacional del Mercado de Valores has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Do not be fooled by the professional-looking website. Behind the scenes, HYCOINEX is disorganized and incompetent. I found them after a friend recommended them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Regular updates|Social trading features|Copy trading available|Good mobile app
Cons: Withdrawal takes 1-2 business days
I requested my data from HYCOINEX under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Great customer service|Economic calendar
Cons: Mobile app could be improved
HYCOINEX has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Competitive fees|Clean UI
Cons: Inactivity fee applies after 12 months
I was contacted by HYCOINEX through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: No regulatory oversight|Money disappeared|Fake testimonials