HYCM
Published: Updated:
- Trust score
- 8/10
- Legal simplicity
- 3/10
- Min. deposit
- 100
- Payment systems
- Instruments
- Forex, Indices, Commodities, Metals, Energies, Stocks, Cryptocurrencies
- Legal entity
- HYCM Ltd
- Jurisdiction
- United Kingdom
- Fees
- Fixed and Classic accounts trade on marked-up spreads with no commission; Raw accounts offer spreads from 0.0 pips with a commission per lot. Overnight swaps apply, and swap-free accounts are available for clients who qualify.
- Withdrawals
- Withdrawals return to the original funding method, with card returns limited to the deposited amount and the balance paid by bank transfer. Requests are typically processed within one business day, with the money arriving according to the method's own timeline.
Features
- Seminars and trader training
- Daily market analysis
- Low $100 minimum deposit
- Islamic (swap-free) accounts
- Deposit bonus offers
- Segregated client accounts
- Affiliate program
- Wide range of trading instruments
Cons
- Leverage narrows sharply for EU-regulated accounts compared to offshore entities.
- Only a few account types to choose from.
HYCM, formerly HYMarkets, is part of the Henyep Group, a financial holding company founded in London in 1977 with interests spanning financial services, education, and real estate. The broker has operated in forex and CFD markets for more than 40 years and holds licenses from the UK FCA, Dubai's DFSA, Cyprus's CySEC, and the Cayman Islands' CIMA. HYCM offers three account types, over 300 tradable instruments, and access to MetaTrader 4 and 5, with client funds held segregated from company funds.
HYCM is a multi-regulated forex and CFD broker offering Islamic and segregated accounts, daily market analysis, trader education, and a $100 minimum deposit.
HYCM, formerly HYMarkets, is a forex and CFD broker with more than 40 years in the market, operating as part of the Henyep Group, a financial holding company founded in London in 1977. The group also has interests in education and real estate alongside financial services.
Regulation and Fund Safety
HYCM is headquartered in London and regulated by the UK Financial Conduct Authority (FCA). Its branches hold additional licenses from the DFSA in Dubai, CySEC in Cyprus, CIMA in the Cayman Islands, and an authorization in Saint Vincent and the Grenadines. Client funds are held in segregated accounts, separate from company funds, and UK clients are covered by the FSCS compensation scheme if the company becomes insolvent.
Account Types and Trading Platforms
HYCM offers three account types:
- Fixed Account: commission-free, with fixed spreads from 1.8 pips.
- Classic Account: commission-free, with floating spreads from 1.2 pips.
- Raw Account: spreads from 0.2 pips plus a $4-per-lot commission.
Islamic (swap-free) accounts are available on request. Trading runs mainly on MetaTrader 4, with MetaTrader 5 also offered, plus the HYCM Mobile app for iOS and Android.
Tradable Instruments and Leverage
HYCM lists more than 300 instruments, including forex pairs, metals, energy, commodities, indices, stocks, ETFs, and cryptocurrencies. Leverage reaches up to 1:500 for accounts opened through the Dubai, Cayman Islands, or Saint Vincent and the Grenadines entities, but is capped at 1:30 for UK and European clients.
Fees and Costs
CFD trading fees are low, and most deposits and withdrawals carry no fee. Forex trading fees are average for the industry, and an inactivity fee of $10 per month applies after 90 days without trading activity.
Deposits and Withdrawals
HYCM accepts credit/debit cards, bank wire, Skrill, Neteller, and UnionPay. The minimum deposit starts from $20 depending on account type, rising to $200 for the Raw Account. Withdrawals are generally free; depositing in your account's base currency avoids conversion costs.
Customer Support and Extras
Support is available in multiple languages via live chat, phone, and email. HYCM also runs daily market news, forex education content, webinars, workshops, and a partnership with Seasonax for seasonal pattern analysis.
Trading conditions
HYCM operates through several entities, and the trading terms follow the entity rather than the brand. UK and Cyprus clients trade under FCA and CySEC rules: 30:1 maximum leverage on major currency pairs, mandatory negative balance protection, and margin close-out at 50% of required margin. Clients onboarded to the offshore entity see leverage several times higher and none of those guarantees.
Account types are Fixed, Classic and Raw. Fixed spreads hold through normal conditions and are useful for strategies that need predictable entry cost; Raw prices near the underlying spread with commission. Hedging and Expert Advisors are permitted across account types.
The group has been trading since 1977 under the Henyep name, which is a longer operating history than most retail brokers can show.
Verification
Verification requires photo ID and proof of address, plus — on the FCA and CySEC entities — an appropriateness assessment covering trading knowledge and experience. That questionnaire is a regulatory requirement rather than a formality: a client who answers as inexperienced may be warned or declined for leveraged products.
Documents are usually reviewed within one business day.
