HYCM Review

Experienced forex and CFD traders

FCA DFSA CIMA

Founded 2016 · United Kingdom · Henyep Group

Why investors choose this broker

FCA-regulated with FSCS protection up to £85,000
Raw account spreads from 0.1 pips on forex
Low swap rates suit swing and position traders
Low minimum deposit of $20

Review summary

HYCM is a multi-regulated forex and CFD broker backed by Henyep Group, offering MetaTrader 4 and MetaTrader 5 across forex, indices, commodities, stocks and crypto.

Pros

FCA-regulated with FSCS protection up to £85,000
Raw account spreads from 0.1 pips on forex
Low swap rates suit swing and position traders
Low minimum deposit of $20
Free demo account available
Multiple account types including Fixed, Classic and Raw
Backed by Henyep Group, a financial conglomerate established in 1977

Cons

Fixed and Classic account spreads above industry average
CySEC license voluntarily renounced in June 2024 - no EU regulated entity
Crypto CFDs unavailable to UK FCA-regulated clients
$10 monthly inactivity fee after 90 days
$30 fee on bank wire withdrawals under $300
No copy trading or social trading features
No TradingView or cTrader integration
Demo accounts expire after 90 days

Company background

HYCM is a forex and CFD broker that is part of the Henyep Group, a Hong Kong-based financial conglomerate established in 1977. The Henyep Group began as a participant in the Hong Kong Gold and Silver Exchange Society and expanded into regulated capital markets over the following decades. The UK entity obtained its FCA authorisation in 1998. The current HYCM brand was launched in 2016 when Henyep unified its capital markets operations under a single trading platform. HYCM serves clients through two regulated entities: HYCM Capital Markets (UK) Limited under the FCA, and HYCM Capital Markets (DIFC) Limited under the DFSA in Dubai. Following a voluntary renunciation of its CySEC licence in June 2024, HYCM no longer has a regulated entity for EU clients.

Fees and pricing

HYCM offers three live account types: Fixed, Classic and Raw. The Fixed account carries spreads from 1.5 pips on major forex pairs with no commission. The Classic account offers spreads from 1.2 pips, also commission-free. The Raw account provides the tightest spreads from 0.1 pips on forex, with a commission of $4 per round turn on forex and $5 per round turn on metals. All account types share a minimum deposit of $20 with no deposit fees. A $30 handling fee applies to bank wire transfers under $300, and a 1% fee applies to Skrill and Neteller withdrawals exceeding $5,000. HYCM charges $10 per month after 90 days of inactivity. Islamic swap-free accounts are available; a $5 per night charge applies after a 14-day swap-free period. Overnight swap rates are considered competitive by independent reviewers for traders holding positions over multiple days.

Regulation and safety

HYCM Capital Markets (UK) Limited is authorised by the FCA under firm reference 186171. UK clients benefit from segregated funds at tier-1 banks, negative balance protection and FSCS compensation up to £85,000. HYCM Capital Markets (DIFC) Limited holds DFSA licence F000048 and provides segregated funds and negative balance protection for UAE-region clients, without an equivalent retail compensation scheme. HYCM Ltd is also regulated by the Cayman Islands Monetary Authority (CIMA) for its Cayman Islands entity.

Platform experience

HYCM supports MetaTrader 4 and MetaTrader 5 on desktop and via web terminals, plus the proprietary HYCM Trader app on iOS and Android. Integrated third-party research tools include Trading Central, Financial Source and Seasonax. A free demo account is available, though it expires after 90 days. TradingView, cTrader and copy trading are not supported.

Pros and cons

HYCM's main strengths are its FCA authorisation with FSCS protection, competitive Raw account spreads from 0.1 pips, low swap rates for swing traders and a low $20 minimum deposit. Weaknesses include above-average Fixed and Classic spreads, a $10 monthly inactivity fee, no EU regulated entity since June 2024, no crypto for UK clients and no copy trading or TradingView integration.

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Trading fees & commissions

HYCM charges no deposit fees and no commission on Fixed and Classic accounts, where spreads start from 1.5 and 1.2 pips respectively. The Raw account offers spreads from 0.1 pips with a commission of $4 per round turn on forex.

Fees

Item	Fee
Cfds	Included in spread pricing across account types; Raw account commission applies to metals at $5 per round turn
Margin	Overnight swap rates apply; Islamic (swap-free) accounts available; $5 per night charge applies after a 14-day swap-free period
Account	No account opening fee; no ongoing management fee
Deposit	Free
Inactivity	$10 per month after 90 days of inactivity
Withdrawal	Free for most methods; $30 handling fee on bank wire transfers under $300; 1% processing fee on Skrill/Neteller withdrawals over $5,000

Trading platform & features

Platforms

MetaTrader 4
MetaTrader 5
HYCM Trader
Web app
iOS app
Android app

Regulation and investor protection

HYCM operates through entities authorised by the FCA in the UK, the DFSA in Dubai, and CIMA in the Cayman Islands. UK clients benefit from FSCS protection up to £85,000 and segregated client funds held at tier-1 banks.

Broker FAQs

Is HYCM safe?

HYCM Capital Markets (UK) Limited is authorised and regulated by the FCA under reference number 186171. UK clients benefit from segregated funds held at tier-1 banks and FSCS protection up to £85,000.

Is HYCM a scam?

No. HYCM is a regulated broker with an FCA-authorised UK entity and a DFSA-authorised Dubai entity. It has operated as a regulated retail broker since obtaining its FCA licence in 1998.

Is HYCM regulated and by whom?

Yes. HYCM Capital Markets (UK) Limited is regulated by the FCA (reference 186171), HYCM Capital Markets (DIFC) Limited is regulated by the DFSA (reference F000048), and HYCM Ltd is regulated by CIMA in the Cayman Islands. HYCM's CySEC licence was voluntarily renounced in June 2024.

Does HYCM keep client funds in segregated accounts?

Yes. HYCM states that client funds are held in segregated accounts at tier-1 banks, separate from the company's own funds, under both its FCA and DFSA regulated entities.

What happens to my money if HYCM goes bankrupt?

UK clients regulated under the FCA entity are eligible for FSCS compensation of up to £85,000 per eligible claimant. Clients of the DFSA entity do not have access to an equivalent retail compensation scheme.

What products does HYCM offer?

HYCM offers CFDs on forex (approximately 70 pairs), indices, commodities, stocks and cryptocurrencies. Crypto CFDs are not available to clients of the FCA-regulated UK entity. The broker also offers a demo account and Islamic swap-free accounts.

Does HYCM offer forex trading?

Yes. HYCM offers approximately 70 forex currency pairs across Fixed, Classic and Raw account types.

Does HYCM offer crypto trading?

HYCM lists cryptocurrency CFDs, but they are unavailable to clients of the UK FCA-regulated entity due to FCA restrictions on the sale of crypto derivatives to retail consumers.

Does HYCM offer stock CFDs?

Yes. HYCM offers CFDs on over 1,000 individual stocks as part of its multi-asset offering.

What does HYCM charge for forex trading?

The Fixed account charges spreads from 1.5 pips with no commission. The Classic account charges spreads from 1.2 pips with no commission. The Raw account charges spreads from 0.1 pips plus $4 commission per round turn on forex.

Is there a withdrawal fee at HYCM?

Most withdrawals are free. A $30 handling fee applies to bank wire transfers under $300, and a 1% processing fee applies to Skrill or Neteller withdrawals over $5,000.

Does HYCM charge an inactivity fee?

Yes. HYCM charges $10 per month after an account has been inactive for 90 days.

Does HYCM have a demo account?

Yes. HYCM offers a free demo account to registered users. The demo account expires after 90 days of inactivity.

Does HYCM have a mobile app?

Yes. HYCM provides the proprietary HYCM Trader app on iOS and Android, as well as mobile versions of MetaTrader 4 and MetaTrader 5.

Is HYCM good for beginners?

HYCM offers a demo account, educational resources and a low $20 minimum deposit. However, its above-average Fixed and Classic spreads, inactivity fees and absence of copy or social trading features may make it less competitive for beginners compared to specialist beginner-focused platforms.

Is HYCM good for long-term investing?

HYCM's low swap rates are noted as competitive for swing and position traders who hold CFD positions overnight. However, the platform offers only CFDs and does not provide direct ownership of stocks, ETFs or bonds, which limits its suitability for long-term buy-and-hold investors.

Bottom line

HYCM suits users who want an FCA-regulated forex and CFD broker with competitive Raw account pricing, low swap rates and access to MetaTrader 4 and MetaTrader 5. It may not suit users who want copy trading, TradingView integration, crypto access under FCA regulation, or a broker with an active EU regulated entity.

HYCM

Experienced forex and CFD traders

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