HYCM Broker Review

Author Author:  Jeffrey Cammack
Published: September 5, 2022
Editor Editor:  Chris Cammack
Updated: May 10, 2023
Last Updated On May 10, 2023
Jeffrey Cammack
Overall Rating
4.02 4.02 / 5
Rated #43 of 77 Recommended Brokers
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 12
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts UK Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform supported. HYCM is regulated by CySEC, FCA, and the DFSA. 74% of traders lose money with this provider.
Last Updated On May 10, 2023
Jeffrey Cammack

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

Our verdict on HYCM

A market maker broker, HYCM is a subsidiary of the Henyep Group, which has been involved in asset trading for over 40 years, giving potential clients an additional level of confidence in using this broker. Its various companies are regulated by the FCA in the United Kingdom, CySEC in Europe, and the DFSA in Dubai.  HYCM offers trading on more than 300 instruments, including Forex, commodities, stocks, ETFs, indices, and over 21 cryptocurrencies, a broader range than is typically seen at other brokers. 

HYCM offers three live accounts which are suitable for beginners and more experienced traders.  The commission-free Fixed and Classic accounts have a low minimum deposit requirement of only 100 USD, but spreads that start at 1.8 pips and 1.2 pips (EUR/USD) respectively, which is wider than other brokers.  However, most traders will be interested in HYCM’s low cost Raw Account, with spreads starting at 0.2 pips on the EUR/USD in exchange for a commission of only 4 USD (round turn) and a reasonable deposit requirement of 200 USD.   

Support is offered for both MT4 and MT5 alongside a comprehensive market education suite that is beneficial for traders of all experience levels. However, HYCM’s analysis materials are limited, forcing traders to seek market news elsewhere.

🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 12
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
1110.503.5/ 5
Assets Available
111104/ 5
Customer Service
111003/ 5
Beginner Friendly
Welcome Bonus

Account Information

Base Currencies
Number of FX Pairs
Crypto Pairs
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Account Name
Trading Desk
Market Maker
8 USD / lot - Raw Account
0.10 pips
0.40 pips
0.20 pips
Negative Balance Protection

Company Details

Company Name
Henyep Capital Markets (UK) Limited
Website Language
English, Arabic, Polish, Vietnamese, Swedish
Support Language
English, Arabic, Portuguese
Office Locations
Hong Kong, United Kingdom, Cyprus


  • Well regulated
  • Wide range of assets
  • Good range of accounts
  • Fast and free withdrawals


  • Limited currency pairs

Is HYCM Safe?

HYCM’s parent company, Henyep Group, has been in operation for more than 40 years, starting originally as a gold dealer in Hong Kong in 1977. The company branched out into property, capital markets, investments and Forex trading in the 1980s and launched an online trading platform in 2007.

A truly global broker, HYCM is regulated by various highly regarded institutions, including the FCA, CySec and the DFSA:

  • Henyep Capital Markets (UK) Limited is authorised and regulated under the Financial Conduct Authority with reference number 186171.
  • HYCM (Europe) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 259/14.
  • HYCM Ltd is authorized and regulated under the Cayman Islands Monetary Authority under reference number 1442313.
  • Henyep Capital Markets (DIFC) Limited is authorized and regulated by the Dubai Financial Services Authority with license number 000048.
  • HYCM Limited is an International Business Company registered in Saint Vincent and the Grenadines with registration number 25228 (IBC 2018).

UK residents will be trading under the subsidiary, Henyep Capital Markets (UK) Limited, which is authorised and regulated under the Financial Conduct Authority (FCA).  Considered one of the best regulators in the world, the FCA requires that brokers keep client funds in segregated accounts, that brokers provide negative balance protection, and that brokers issue monthly statements to the regulator.  Additionally, FCA-regulated brokers have to restrict their leverage to a maximum of 1:30.  

In compliance with these rules, HYCM ensures that all client funds are held in segregated accounts at tier-1 banks.  It also offers negative balance protection to all clients, so traders can never lose more than they have in their trading account.  Furthermore, HYCM participates in an investor protection scheme, and residents of EEA countries such as the UK receive investor protection up to 20,000 EUR.

HYCM has collected many awards over the years, including Best Mobile Trading App 2020 (World Finance), Best Forex Broker UAE 2020 (Finance Review), Best Forex Broker Europe 2019 (Global Brand Awards), and Best Forex Trading Platform Middle East 2019 (Global Forex), among others.  

With the financial backing of its parent company, worldwide regulation, and frequent industry recognition, HYCM is regarded as a safe option for traders.

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Group Regulators
Trading Desk
Year Founded
Office Locations
Inactivity Fee
CySEC, FCA, DFSA, Fi, BaFin, CIMA, FSA-St-Vincent
Market Maker
Hong Kong, United Kingdom, Cyprus

Trading Fees

HYCM’s trading fees are higher than other brokers on two of its account types and lower than other brokers on its Raw Spread Account.

HYCM offers three account types with higher minimum deposits linked to tighter spreads.  The Fixed and Classic accounts costs are included in the variable spreads, while the Raw Account offers significantly tighter spreads in exchange for a commission per lot traded.  Click here for more details on HYCM’s account types

Unfortunately, HYCM only publishes its starting spreads and not its average spreads.  Traders should note that because spreads are variable at HYCM (except on the Fixed Account), they will get wider or tighter depending on trade volume and market volatility.   

HYCM’s accounts were assessed to compare the costs to those of other brokers.  The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spreads and commission.  

When making this calculation, we used one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread.

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

HYCM Accounts

As you can see from the table above, the trading costs on the Fixed and Classic accounts are built into the spread, but are higher than the costs on the commission-based Raw Account.    

Additionally, compared to other brokers, HYCM’s trading costs are higher average on the commission-free Fixed and Classic accounts- the trading costs at most good brokers tend to be around 9 USD per lot of EUR/USD.  However, trading costs are lower than average on the Raw Account, and it has a reasonable minimum deposit requirement.  

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
HYCMHYCM11110.54.5/ 5 EUR, GBP, USD, AED, RUB1.20 pipsUSD 120.10 pips0.40 pips0.20 pipsUSD 0
IGIG11110.54.5/ 5 AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD0.60 pipsUSD 60.85 pips1.40 pips0.94 pipsUSD 0
eToroeToro111104/ 5 USD1.00 pipsUSD 101.00 pips2.00 pips1.00 pipsUSD 0

Swap Fees 

Another important cost to consider is the swap rate charged on positions held overnight.  Swap fees can be found alongside the instruments in the ‘Contract Specifications’ tab.   In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded.

The following calculation can be used to work out the swap fee:

Interest rate (%) x Contract value (contract value is equal to daily close price multiplied by contract size) / 360 = Overnight finance fee.

For example, if the interest rate on the EUR/USD is 1.25% for a short position, and the exchange rate on the EUR/USD at the end of the day was 1.1450:

1.25% x (100.000 * 1.1450) / 360 = 3.98 USD credit per night.  

Overall, the training costs on HYCM’s commission-free accounts are higher than those of other brokers, but lower on its Raw Spread Account.  Additionally, the reasonable minimum deposit requirements on all accounts make them suitable for traders of all experience levels.

HYCM’s Non-trading Fees

HYCM’s non-trading fees are average compared to other similar brokers.

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.  These fees can significantly affect your profitability and so should be carefully scrutinised.

HYCM does not charge generally charge any account, deposit, or withdrawal fees, but there are two exceptions (click here for more on HYCM’s deposits and withdrawals): 

  • Withdrawals of less than 300 USD via bank transfer carry a processing fee of 30 USD. 
  • Withdrawals over 5,000 USD via Skrill or Neteller are subject to a 1% processing fee.

Additionally, HYCM charges a fee of 10 USD per month after three months of inactivity.  These fees are around the average charged by the industry for dormant accounts.

Overall, HYCM’s non-trading fees are around the industry average, with no deposit or account fees, but an inactivity fee after three months of account dormancy and withdrawal fees on certain payment methods. 

Opening an Account at HYCM

The account opening process at HYCM  is user-friendly, fully digital and accounts are ready for trading within one day.

All UK residents are eligible to open an account at HYCM, as long as they meet the minimum deposit requirements.  These are:

  • Fixed Account: 100USD
  • Classic Account: 100 USD
  • Raw Account: 200 USD

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one day. HYCM offers individual and corporate accounts, but we will focus on opening an individual account:

  1. New traders will have to click on the “Open an Account” button at the top of the page where they will be directed to register an account.    
  2. HYCM’s intake form requires clients to fill in their personal details (including name, country of residence, email address, birth date). 
  3. Next traders need to select their preferred trading platform (Metatrader 4 or Metatrader 5), their account type (Fixed, Classic, or Raw), and their preferred account base currency (click here for more on HYCM’s base currencies).  Traders can open additional accounts later.  
  4. Once this step is complete, clients are required to fill out a questionnaire that helps HYCM assess the trader’s investment knowledge, experience, and expertise to deem the suitability and relevance of the services on offer. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.  
  5. HYCM requires at least two documents to accept you as an individual client:
    1. Proof of Identification – HYCM accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. 
    2. Proof of Address – Proof of residence/address document must be issued in the name of the HYCM’s account holder within the last 6 months and must contain a trader’s full name, current residential address, issue date, and issuing authority. 
    3. If traders want to use a debit or credit card, these will need to be verified as well.
  6. After the application is approved, traders can login and fund their accounts
  7. We advise that you read HYCM’s risk disclosure, customer agreement, and terms of business before you start trading. 

Overall, HYCM’s account-opening process is fully digital and hassle-free and accounts are generally ready for trading within one business day.

HYCM Accounts

HYCM offers three account types, which is around the average offered by most other brokers, and its accounts are suitable for both beginners and more experienced traders alike.  

HYCM is a market-maker broker with a selection of trading accounts with reasonable minimum deposit requirements. In addition to its two commission-free accounts, a raw account is available, offering tighter spreads in exchange for a commission per trade.  

The low minimum deposit requirements across all account options make them suitable for beginner traders.   We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.  

HYCM’s Raw Account is suitable for more experienced traders.  Experienced traders generally prefer paying higher minimum deposits and a commission per trade in exchange for tighter spreads.  The Raw Account has a higher minimum deposit, but a reasonable commission structure and tighter spreads. 

HYCM offers two commission-free accounts, the Classic Account, and the Fixed Account. Both accounts require a minimum deposit of 100 USD, but the Classic Account has a variable spread while the Fixed Account (as per the name) has fixed spreads. Because of the nature of the Fixed Account, expert advisors are not available. HYCM also offers a market execution Raw Account, which offers spreads closer to market rates (from 0.2 pips) but charges 4 USD commission per round and requires a minimum deposit of 200 USD.  The maximum leverage on all accounts is 30:1, and HYCM allows all trading strategies, including hedging, scalping, and copy trading.  

Fixed Accounts

The Fixed Account is a commission-free account, with spreads fixed at 1.8 pips on the EUR/USD, which is wider than other market makers.  The minimum deposit requirement on this account is 100 USD, making it accessible to beginner traders. 

Classic Account

The Classic Account is also a commission-free account with variable spreads starting at 1.20 pips pips on the EUR/USD, which is still wider than other brokers.  The minimum deposit on this account is 100 USD, and traders can make use of expert advisors.

Raw Account

As the name suggests, raw spreads start at 0.2 pips on this account in exchange for a commission of 4 USD round turn per lot.  The minimum deposit on this account is 200 USD, and traders can make use of expert advisors. 

Demo Account

HYCM provides a free demo account that comes loaded with 50,000 of the base currency of your choosing.  Demo accounts do not expire unless there is no activity on the account for more than three months, at which time they will be suspended.  However, they can be reactivated at any stage.  Demo accounts are a great way to practice trading in a risk-free environment, and HYCM allows traders to practice on both the MT4 and MT5 platforms.   

Islamic Accounts

All accounts are available as Islamic (swap-free) accounts. As soon as you have signed up for your account, please contact your account manager, and they will convert the account to swap-free status. Traders should note that although no interest is charged on Islamic accounts, once a position has remained open for longer than 14 days, traders are charged a fee of 5 USD per contract per night. 

Note:  Swap-free options are not available on exotic currencies and cryptos.

Overall, HYCM’s trading costs on two of its accounts are above the industry average, and well below the industry average on its Raw Account.  Additionally, its reasonable minimum deposit requirements make them appealing to both beginners and more experienced traders alike.

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Account Types
Min. Deposit
Max. Leverage
Min. Spread
ClassicUSD 100200:11.20Spread Only
Account Details
FixedUSD 100200:11.50Spread Only
Account Details
Islamic FixedUSD 100200:11.80Spread Only
Account Details
RawUSD 200200:10.204 USD/lot
Account Details

Deposits and Withdrawals

HYCM offers a broad range of payment methods and its processing times are fast.  While no fees are charged for deposits, HYCM charges fees for withdrawals in certain circumstances.  

In line with Anti-Money Laundering policies, all deposits must be made from a bank account/card registered in your name, and HYCM does not accept third-party deposits.  

HYCM offers a broad range of payment methods, including Mastercard, Visa, Skrill, Neteller, Webmoney, and Wire Transfer, and all deposits and withdrawals (except bank wire) only take an hour to complete. Additionally, both deposits and withdrawals are free, except for a few withdrawal methods, see below for more details:

  • Bank Wire: Minimum deposits start at 250 USD, and minimum withdrawals are 300 USD, or they incur a fee of 30 USD. No fees are charged for deposits and these are processed within 1 – 7 days.  Accounts are denominated in USD, EUR, GBP, and AED.
  • Credit Cards/Debit Cards: Minimum deposits and withdrawals start at 20 USD. No fees are charged for deposits or withdrawals and these are processed within one hour.  Accounts are denominated in USD, EUR, GBP, RUB, AED, and CAD.
  • Webmoney: Minimum deposits and withdrawals start at 20 USD. No fees are charged for deposits or withdrawals and these are processed within one hour. Accounts are denominated in USD and EUR.
  • Neteller: Minimum deposits and withdrawals start at 20 USD. No fees are charged for deposits, but withdrawals over $5,000 are subject to a 1% processing fee and are processed within one hour. Accounts are denominated in USD and EUR. 
  • Skrill: Minimum deposits and withdrawals start at 20 USD. No fees are charged for deposits, but withdrawals over $5,000 are subject to a 1% processing fee and are processed within one hour. Accounts are denominated in USD and EUR.

Overall, HYCM’s processing times are fast and while it generally does not charge fees for deposits or withdrawals, there are some exceptions.  

HYCM’s Base Currencies (Trading Account Currencies)

HYCM offers trading accounts denominated in six base currencies, which is around the average offered by most other brokers, and it offers accounts denominated in GBP.  

Deposits to trading accounts can be made in most national currencies, which are subsequently converted into USD, EUR, GBP, RUB, AED, and CAD.  This is good for British traders, who will likely have bank accounts denominated in GBP, and who will be able to avoid paying currency conversion fees.  

Additionally, in order to protect your capital from currency fluctuation, you can have multiple trading accounts in different currencies at the same time. For example, you can have both a EUR and USD account for MetaTrader 4. This gives traders an opportunity to transfer funds from one account to another through a convenient internal transfer to another account.  

Overall, HYCM offers an average number of trading currencies compared to most other brokers, including accounts denominated in GBP. It also allows traders to open multiple trading accounts in different currencies.  

Trading Platforms

HYCM’s trading platforms are average compared to other brokerages.

HYCM offers full support for Metatrader 4 and Metatrader 5.

The advantage of brokers offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions with them should they decide to migrate to another broker. However, many brokers offer their own proprietary platforms which are often more user-friendly and easier to set up, which is not the case at HYCM.       

The primary difference between MT4 and MT5 is that MT4 is a Forex-only platform, while MT5 is a multi-asset trading solution. With MT5, you can also trade on stocks, stock indices, and precious metals. MT5 also has a built-in news feed and an economic calendar, and trades can be made on a chart.

MetaTrader 4

MetaTrader 4 (MT4) is still undoubtedly the world’s most popular trading platform for forex traders due to its ease of use, feature-rich environment, and automated trading ability. MT4 is available in over 31 languages.

 Features of MT4 include: 

  • A built-in library of more than 50 indicators and tools to streamline the analysis process
  • An impressive array of 24 analytical tools, available in nine timeframes for each financial instrument.
  • Three chart types
  • One-click Trading
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community. 

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.  In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.  Additionally, Trailing Stop is only available on the desktop version.  MT4 is available on PC and Mac.

MetaTrader 5

The MT5 trading platform is being adopted by more Forex brokers all the time.  It has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4. 

Features include:

  • 38+ preinstalled technical indicators
  • 44 analytical charting tools
  • 21 timeframes
  • Six order types
  • Additional pending order types
  • Detachable charts

MT5 is also available on PC and Mac.

Overall, HYCM’s platform support is about average when compared to other brokers.

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Platform Choice
Copy Trading
11110.54.5/ 5
11110.54.5/ 5
MT4, L2 Dealer, ProRealTime
111104/ 5

Mobile Trading

HYCM’s mobile trading platforms are average compared to other similar brokers

Both trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced timeframes and fewer charting options. Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions.

The mobile apps allow traders to work from anywhere, with functionality to close and modify existing orders, and calculate profit/loss in real-time.  HYCM’s MT4 and MT5 applications are beginner-friendly and well-designed and it is easy to navigate the various folders.  

Overall, HYCM’s mobile trading support is about average when compared to other brokers, with no additional support or apps apart from the trading platform’s own mobile applications.

HYCM’s Trading Tools

HYCM offers a limited number of trading tools compared to most other brokers.

HYCM does not offer traders any additional tools beyond an Economic Calendar, the services of Trading Central, and a trading calculator.  Most other brokers offer various technical analysis tools such as Autochartist, VPS services, and various copy trading platforms.

Trading Central

Trading Central is available to clients who register a live account.  A third-party tool, Trading Central’s professional analysts use the most advanced technical analysis tools in the industry to curate relevant information. This tool essentially supports traders without the technical know-how in making trading decisions.  Trading Central is one of the most popular trading tools available and provides excellent market analysis, and HYCM does well to offer this service to its clients. 

Overall, HYCM’s trading tools are limited compared to most other brokers, but it offers the services of Trading Central.  

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Trading Central
Trading View

HYCM’s Trading Instruments

The choice of financial assets offered by HYCM is average compared to other similar brokers, but it offers trading on over 70 Forex pairs and 21 cryptocurrencies.  

HYCM’s range of financial instruments for CFD trading (click here for more details on CFD trading), includes Forex, shares, indices, and commodities.

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Financial Instrument
Number of Assets
Stock CFDs1495:1

  • Forex: HYCM has over 70 currency pairs available for trading which is more than most brokers. These include majors (EUR/USD, GBP/USD, and USD/JPY), minors (NZD/CAD, EUR/JPY, and USD/ZAR), and exotics. The leverage on Forex pairs is up to 30:1.
  • Share CFDs: HYCM offers 149 share CFDs, which is limited compared to most other large international brokers.  The selection available includes some of the major US, UK, and European Exchanges. Leverage on share CFDs is up to 1:5.  
  • Indices: There are 15 indices available for trading at HYCM, which is around the industry average. The most popular indices are those that combine the shares of some of the largest and globally acknowledged companies.  Leverage is up to 1:20 on indices.  
  • Commodities: HYCM offers trading on 10 commodities, which is a much broader range than is commonly available at other brokers.  Most other brokers offer between 5 and 10 commodities.  Commodities include metals such as gold and silver, energies such as oil, and softs such as sugar, cocoa, and cotton. The leverage is up to 1:20 on commodities.

Overall, HYCM offers an average range of tradable assets compared to most other brokers, but it excels in its Forex offering.

HYCM For Beginners

HYCM hosts an excellent range of educational tools designed to develop trading skills and boost trader’s knowledge of the financial markets. All the material offered is free of charge on its website, including the videos and reading material. However, HYCM’s market analysis materials are limited.  

Educational Materials

HYCM’s educational materials are well-structured, comprehensive, and in-depth compared to most other brokers.  

The educational topics are more geared towards helping beginner traders, and cover topics such as Risk Management, Tips for Traders, Trading Tools, Strategies (both simple and advanced), and an excellent introduction to Capital Markets. A well-structured course for beginner traders is also available.

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Beginner Course
Advanced Course
  • Trading Tools:  HYCM’s Trading Tools are a selection of comprehensive and in-depth videos that cover topics such as ‘The World of Global Trading’, Trader’s Psychology’, Technical Analysis’, ‘Technical Analysis’, among others.  
  • Tutorials:  HYCM’s video tutorials help traders with getting set up on MT4, about the various order types, and how to set indicators on graphs, among others.
  • Trading Strategies: HYCM provides a selection of ten videos that are geared towards both beginners and more experienced traders, helping them to develop effective trading strategies.
  • eBooks:  HYCM offers four ebooks free of charge, covering topics such as Forex, Commodities and CFDs, Stocks, and an Advanced ebook for more experienced traders.
  • Beginner’s Course:  The Beginner’s Course is a five-part video series covering the basics of Forex trading, trading strategies, and a trading glossary.
  • Webinars and seminars: HYCM hosts weekly webinars free of charge for all registered users.  The webinars teach traders how to analyse various market movements. Traders will learn how to plan for and engage with market-moving events and important risk events ahead of time. Traders can also attend HYCM’s venue-based seminars and learn how to trade like a professional with various experts.

HYCM Education

Overall, new traders should find more than enough material to get them started trading here, though more experienced traders may be disappointed by the lack of more advanced topics.

Market Analysis

The market analysis selection at HYCM is limited compared to other similar brokers.  

HYCM’s market analysis materials consist of an economic calendar, a calculator, and a market news section curated by both in-house analysts and third-party provider, Trading Central.

HYCM generates in-house research, published under the News category of the website. The market analysis is curated by both in-house market analysts and a newsletter, in partnership with Trading Central, which provides additional trading ideas.

Customer Support

HYCM’s customer support is average compared to most other brokers.

HYCM offers several customer service channels including live chat, email, and telephone support available 24/5. We found the live chat to be the most responsive.  Live chat agents were polite and knowledgeable.

In addition, HYCM also has a dedicated Help Centre website, this site is fully searchable and not only answers many FAQs but also has a dedicated education section. 

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the HYCM offer. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

HYCM Risk Statement

According to regulation, brokers are required to be transparent with Forex traders about their the complexity of financial products and also disclose the extent to which traders can lose their money.  HYCM wants you to know: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.


HYCM is a large, well-regarded, and long-established market maker. The fact that HYCM is part of a larger financial services group, with more than 40 years of experience, gives potential clients an additional level of confidence in using this broker.  While HYCM’s three live accounts are suitable for beginners and more experienced traders, trading costs are higher than average on its instant execution accounts. However, costs improve significantly on its market execution Raw Account and it provides world-class trading education.  Trading is offered on both the MT4 and MT5 platforms, and HYCM allows all trading strategies, including hedging, scalping, and copy trading.  

AlertAccepts UK Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform supported. HYCM is regulated by CySEC, FCA, and the DFSA. 74% of traders lose money with this provider.
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Overall Rating
4.02 4.02  / 5
Rated #43 of 77 Recommended Brokers
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