HYCM
Pros
- FCA-regulated with FSCS protection up to ยฃ85,000
- 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