HNM Review

About HNM

HNM (UK) Limited, operating under the website , is a clone firm fraudulently impersonating HYCM CAPITAL MARKETS (UK) LIMITED (Firm Reference Number 186171) without any authorisation from UK’s Financial Conduct Authority (FCA) (). The FCA issued an alert on 15 August 2022, explicitly warning that this entity is not authorised and is imitating a genuine FCA-authorised firm ().

Regulatory claims made by HNM, including purported licences from FCA, CySEC, CIMA, DFSA, and SVG FSA, are fabricated: registration numbers presented belong to HYCM rather than HNM, SVG FSA does not regulate forex brokers, and searches in the registers of FCA, CySEC, CIMA, and DFSA found no record of HNM or related domain authorisations (). Consequently, HNM is entirely unregulated, posing serious safety risks for clients’ funds ().

Who it’s for

• This firm is not suitable for any lawful or responsible investor, given the absence of actual regulatory oversight or investor protection;
• Those unaware of clone-firm tactics may be targeted, but engagement remains unsafe and should be avoided;

Pros and cons

Pros

• No legitimate pros; all regulatory claims are misrepresented;

Cons

• Operates as a clone firm, impersonating a legitimate FCA-authorised entity;
• No authentic licences or approvals from any recognised financial regulators;
• Clients are not protected by the Financial Ombudsman Service or FSCS;
• Potential for fraud and loss of deposited funds, with no legal recourse;