HYCM Review Of 2026

HYCM Summary

Trading Fees

Depending on HYCM’s clients’ trading experience and investment objectives, this forex broker offers three types of trading accounts:

• Fixed Spread Account
• Classic Account
• Raw Account

HYCM will not impose restrictions on customers to open only one live account. Several accounts can be operated simultaneously by HYCM customers, though the broker does not recommend such a practice, as trading activities may not be handled with efficiency.

Our team of experts will outline the trading conditions that come with the different account types offered by HYCM.

1. Raw Account Spreads

Professional traders with sufficient trading experience can opt to open an HYCM Raw account. One notable feature of this account type is the tight spread, starting from 0.1 pips on EUR/USD per HYCM’s official account-types page. Similar to classic accounts, on a raw account, you can trade with the use of expert advisors and are able to set this account to run either on the MetaTrader 4 or the MetaTrader 5.

Compare the raw spreads offered by HYCM below:

• EUR/USD raw spread of 0.11 pips + $4
• GBP/USD raw spread of 0.53 pips + $4
• AUD/USD raw spread of 0.57 pips + $4

HYCM’s Raw Account offers the following advantages for forex traders:

• A specialised account for high-volume traders and active traders
• Dedicated account manager
• Reduced spreads compared to the other two account types offered by HYCM (but the average spread is still higher compared to other international forex brokers)
• A low minimum deposit of $20 per HYCM’s current account-types page, meaning it’s accessible to small traders as well

2. Raw Account Commission Rate

HYCM’s official Raw account commission is broken out by asset class: FX $4 per round turn lot, Metals $5 per round turn lot, Others $0 per round turn lot. Our team of FX experts has placed HYCM side-by-side with the standard average, and we found this online CFD provider to have higher commissions.

Use the calculator below to compare HYCM’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency.

2. Standard Account Fees

Fixed Spread Trading Accounts

HYCM fixed spread account requires a minimum deposit of $20 per HYCM’s current offshore account-types pages. Fixed Spread Accounts are an appropriate choice for retail clients who prefer to trade smaller volumes. The broker will not charge any commissions and offers fixed spreads that average 0.1 pips on EUR/USD on the raw account per HYCM’s official account-types page.

Compare the fixed spreads offered by HYCM below:

• EUR/USD fixed spread of 1.5 pips (official minimum)
• GBP/USD fixed spread of 2.5 pips
• AUD/USD fixed spread of 2.5 pips

Note* HYCM took a negative point in our validation process because Expert Advisors EAs are not available for this forex trading account.

Overall, the fixed account is comparable to the standard micro account.

Classic Trading Accounts

Similar to fixed spread accounts, a standard account can be opened with an initial deposit of as low as $20, and the minimum trade volume allowed is 0.01 lots. However, unlike fixed spread accounts, classic accounts allow for more competitive variable spreads starting from 1.2 pips.

Compare the variable spreads offered by HYCM below:

• EUR/USD variable spread of 1.4 pips
• GBP/USD variable spread of 1.8 pips
• AUD/USD variable spread of 1.2 pips

Traders can open a classic account and also benefit from trading automatically with the use of Expert Advisors (EAs) while basing their trading decisions on timely technical analysis.

Additionally, HYCM offers the following advantages:

• No commission trading (the only fees comes in the form of the markup spreads)
• Fast order execution speed (12 milliseconds average execution speed)
• Variable spreads, which fluctuates according to the market liquidity

4. Swap-Free Account Fees

Fixed Spread Accounts also have a swap-free variation, thus, they can be a suitable choice for Islamic clients who are forbidden to earn or pay the interest due to their religious beliefs.

5. Other Fees

There are no fees for deposits and withdrawals. There is an inactivity fee of $10 per month after 90 days.

Verdict on HYCM Spreads

Active traders with large trading volumes can be better served through HYCM VIP account, which comes with lower spreads , dedicated account manager and all-inclusive market analytical tools.

Trading Platforms

HYCM offers a proprietary mobile app called HYCM Trader (available on iOS and Android, on the Offshore entity), alongside industry-standard platforms:

• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• HYCM Trader (proprietary mobile app, iOS and Android)
• Web Trader (browser-based MT4 and MT5 terminals)

HYCM won a run of international platform awards between 2013 and 2017:

• Best Mobile Trading Platform by Forex Awards, 2017
• Best Trading Platform, Dubai, 2017
• Best Retail Platform by FX Report Awards, 2015
• Best Retail Trading Platform by FX Report Awards, 2014
• Best Mobile Trading Platform by Foreign Exchange Awards, 2013
• Best Global Professional Trading Platform, 2014

Recognition continued after that run. HYCM took Best Mobile FX Trading App for HYCM Trader and Most Transparent Forex Broker, all in 2023. HYCM has published no new awards since 2023. Traders opening an account today choose from three account types on a $20 minimum deposit, across MT4, MT5 and the proprietary HYCM Trader app.

MetaTrader 4

Launched in 2005, MT4 is the most widely used electronic trading platform, while its cutting-edge technology has turned the platform into a standard for Forex trading. MT4 offers an array of trading tools for traders of all skill levels, along with:

• Advanced technical analysis
• A variety of flexible trading systems
• And Expert Advisors.

MT4 has a user-friendly interface and offers 3 types of forex charts, 9-time frames, 23 analytical objects, 30 built-in technical indicators, 4 asset classes and over 100 trading instruments. MT4 allows for lightning-fast order execution with an average execution time of 12 ms, while the probability for clients to experience slippage is kept at a minimum.

HYCM has also joined forces with Trading Central to provide its clients with extensive technical analysis, forecasts, daily newsletter, intraday trading signals as well as key levels of support, resistance, targets and stop pivots for an array of trading instruments.

Note* You can download MT4 on your desktop PC directly from HYCM’s website.

MetaTrader 5

Launched in 2010, MT5 is a powerful multi-functional, multi-asset platform, which offers advanced technical analysis tools, fundamental analysis and flexible trading systems, while it is compatible with automated trading apps such as Expert Advisors.

Built on a more advanced MQL5 code compared to its predecessor MT4, MetaTrader 5 is an appropriate choice for professionals willing to conduct extensive back-testing and trade complex derivative instruments.

MT5 comes with an arsenal of advanced technical analysis tools such as:

• 38 technical indicators
• 44 analytical objects
• 21-time frames
• As well as unlimited charts

Additionally, MetaTrader 5 allows traders to place 6 types of pending orders and take advantage of an integrated economic calendar for daily macroeconomic reports and other key events. The platform supports multiple languages, favouring a wider community of traders, and also allows access to the Trading Central tool.

Note* You can download MT5 on your desktop PC directly from HYCM’s website.

Mobile Trading Apps

Both MetaTrader 4 and MetaTrader 5 platforms can be downloaded free of charge on mobile devices (smartphones or tablets), which operate on Android and iOS. With HYCM’s mobile apps you will have the ability to open, manage and close trading positions on the go anywhere on the globe while having complete control over your trading account.

MT4 and MT5 mobile apps offer the same features as included on their desktop versions. Additionally, Offshore clients can access HYCM Trader, a proprietary mobile app built by HYCM with complete trading functionality. The HYCM Trader app is not available to clients outside the UK and Offshore entities, who use MT4 or MT5 only.

Is HYCM Safe?

HYCM has a trust score of 63, based on its regulation, reputation, and reviews.

1. Regulation

The brokerage meets regulatory requirements of three of the most highly respected jurisdictions across the globe. The regulatory oversight that applies to a HYCM account depends on the entity a client opens it with, and each entity is supervised by the regulator of its own jurisdiction. The company obtained its licence in 1998.

In 2014, HYCM (Europe) Ltd was granted a CIF licence (259/14) by the Cyprus Securities and Exchange Commission (CySEC). HYCM voluntarily renounced this licence and CySEC formally withdrew the authorisation on 10 June 2024. HYCM no longer accepts clients resident in the EU or EEA. Existing EU clients have been offboarded.

HYCM’s offshore offering is now operated by HYCM Capital Markets S.R.L., a company registered in Costa Rica (registration 3-102-883933). It is not regulated as a broker by any financial authority. Per HYCM’s own disclaimer, MetaTrader platform services on the offshore site are provided by HYCM Capital Markets (UK) Limited under the oversight of its home regulator.

As a regulated entity in these jurisdictions, HYCM is authorised to deal in CFDs, Rights to Interests in Investments, Rolling Spot Forex and Contracts for professional and retail customers.

HYCM’s entities are regulated by the authorities of their respective jurisdictions, and the licence terms that apply depend on the entity a client opens an account with. Per HYCM’s own disclaimer, whether an entity is authorised to hold client money depends on its licence, and client monies are held in segregated accounts under the rules of the regulator supervising the entity the client opens an account with. Whether compensation protection applies depends on the regulator of the entity the client opens an account with. The regulator supervising the entity a client opens an account with is dedicated to preserving the welfare of investors under its supervision.

2. Reputation

HYCM is one of the oldest forex brokers, commencing as HY Markets in 1977. It now operates with a worldwide presence, regulated by the authorities of its home jurisdictions, alongside an offshore Costa Rica entity for global clients.

HYCM is the trading name of HYCM Capital Markets (UK) Limited (Companies House 02878581), HYCM Limited (regulated in its home jurisdiction, formerly Henyep Capital Markets (DIFC) Limited) and HYCM Capital Markets S.R.L. (Costa Rica company registration covering offshore clients). All operate under the Henyep Capital Markets group. Headquartered in Hong Kong, the Henyep Group operates a diversified portfolio of businesses across Asia, Europe and the Middle East.

Henyep Group operates a mixture of businesses and has professional expertise in the following fields:

• Capital Markets and Securities
• Financial Services
• Direct Investment
• Property

This broker maintains a modest presence in the global forex and CFD trading landscape. With approximately 2,400 Google searches per month, it ranks as the 65th most searched forex broker based on 2026 data. Similarly, Similarweb reports that in February 2026, HYCM was the 61st most visited broker, garnering 41,748 global website visits.

HYCM offers trading services to clients in over 140 countries. There is no publicly available data on HYCM’s exact number of clients or trading volume, making it difficult to benchmark its scale compared to more prominent brokers. These figures suggest HYCM operates on a relatively small scale in terms of retail visibility and engagement.

Country, 10 rows.

Country	2026 Monthly Searches	Rank
United Arab Emirates	390	1st
United States	260	2nd
Germany	170	3rd
United Kingdom	110	4th
Netherlands	70	5th
Turkey	50	6th
Canada	50	7th
Malaysia	40	8th
Pakistan	40	9th
France	40	10th

3. Reviews

HYCM has a TrustPilot Score of 1.8 out of 5.0 from 141 reviews.

What other review sites say about HYCM

These are ratings of HYCM from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.

Platform	Rating	Volume	Read on
Trustpilot	1.8 / 5	141	Sep 10, 2026
Google Play	3.4 / 5	185	Sep 10, 2026

HYCM holds a Trustpilot rating of 1.8 out of 5 from 141 reviews, checked Sep 10, 2026.

HYCM Trader is rated 3.4 out of 5 on Google Play (United States store) from 185 reviews shown worldwide, checked Sep 10, 2026.

Our score is based on published criteria and is not influenced by these third-party ratings.

Our score for HYCM is set against every other broker on forex broker review.

Verdict On Safety

On the other hand, because of local regulatory restrictions, HYCM does not accept clients resident in the EU or EEA (following the CySEC licence renunciation in June 2024), the United States, Canada, or other restricted jurisdictions listed in HYCM’s regional restrictions notice (including Afghanistan, Belgium, Hong Kong, Japan and others). In conclusion, HYCM is a multi-regulated, award-winning Forex broker with rich business history, which offers a variety of instruments, good trading conditions, industry-leading trading platforms and outstanding customer support. You can also compare HYCM with some forex brokers that offer bonus deposits and a variety of forex trading accounts.

Deposit and Withdrawal

HYCM’s funding methods differ by entity. Per the current official deposit and withdrawal pages:

• UK clients (hycm.co.uk): Visa or Mastercard debit/credit card, or bank wire transfer
• UAE clients (hycmdifc.com): Visa debit card, or wire transfer (wire withdrawals carry a $30 handling fee)
• Offshore clients (hycm.com): Visa or Mastercard, bank transfer, or cryptocurrency

There are no deposit fees. Bank wire withdrawals under $300 incur a $30 handling fee across all entities. Skrill, Neteller and Webmoney are not listed on HYCM’s current official funding pages.

Our team of industry experts has covered the three main advantages offered by HYCM to traders:

• Zero deposit fees
• Funds kept in segregated accounts with Tier-1 banks
• Quick deposit and withdrawal processing times

Deposit Options and Fees

If you choose to deposit via Mastercard or Visa, HYCM will ask you to provide a copy of the front of the card used as a funding source.

HYCM will not charge any commissions on deposits made via supported methods. However, there might be bank fees charged, for example, if you choose to conduct a bank wire transfer.

Note* HYCM doesn’t support PayPal, the most popular online payments system. This has weighted negatively into our star scoring system.

Withdrawal Options and Fees

Fund withdrawals can be processed by using the same payment methods as with deposits. Upon withdrawal, your funds will be transferred to the original source which you used to deposit. Though HYCM will process a withdrawal request within one business day, actual withdrawals may take between three and seven days to clear into your bank account, depending on the bank or credit card provider.

It is worth noting that if you withdraw less than $300 via wire transfer, HYCM will charge a handling fee of $30.

HYCM’s account base currencies vary by entity. Clients of the hycm.co.uk site: USD only on Fixed; EUR, USD or GBP on Classic and Raw. Offshore clients (hycm.com): USD only on Fixed; EUR, USD, GBP, AED or JPY on Classic and Raw. Base currencies for other entities are not explicitly published on the Fixed Spread or Variable Spread specification PDFs; verify at registration.

Note* FX traders can fund their accounts using their domestic currency, depending on the entity they open an account with. Deposits in local currency can help clients to save on the foreign exchange rate and the subsequent conversion fees.

Client Funds Protection and Security

HYCM is regulated by the authorities of its home jurisdictions, which commits it to strict accounting and risk management frameworks. Its CySEC authorisation was withdrawn on 10 June 2024, and HYCM no longer lists a Cayman Islands entity on its licence page, which we checked on 31 July 2026. All client funds will be kept fully segregated into a special client account and will not be used to pay back creditors in case the brokerage goes bankrupt.

Client funds held with a regulated HYCM entity are protected in the event of broker failure by the compensation scheme of that entity’s regulator, with any cap set by that regulator. The Investors Compensation Fund (ICF) protection that previously applied via HYCM’s CySEC entity ended when HYCM renounced its CySEC licence in 2024. Whether compensation protection extends to a client depends on which HYCM entity holds their client monies, and the protection is governed by that entity’s regulator.

Ease To Open An Account

For FX traders with little or no trading experience at all, the Demo Account offered by HY Markets is a suitable way to get your first feeling of financial markets. The broker will allow you to open a Demo Account on its MetaTrader 4 platform either in Euros or in US Dollars. The account will be funded with $50 000 in virtual money, which will remain active for 14 days.

The HYCM Demo Account allows access to the same market environment as the Live Account. The difference is that you risk no real money when you trade on a Demo.

How to Open a Demo Account with HYCM?

To open a Demo Account, you need to go through a brief registration process and log in to your Client Portal. In “Trading Account” section, simply go to “Create Demo Account”. HYCM will not require any documentation of you in order to trade via a Demo Account and you can use it for as long as you are willing to.

However, to open an HYCM live account you need to follow 3 simple steps:

• Complete the registration form and then fill out the broker’s Questionnaire
• Fund your trading account by using the method of your choice
• Submit the required documentation and you can start trading

The HYCM live trading account process can be done in three easy steps as highlighted in the figure below.

Product Range

With HYCM, clients are granted access to 5 asset classes:

• Forex CFDs
• Stocks CFDs
• Indices CFDs
• Commodities CFDs
• Cryptocurrencies CFDs

Trading Forex with HYCM

Due to its 24/5 activity, high liquidity, volatility and low costs of trading, the Foreign Exchange Market remains a preferred segment for many traders. HYCM provides access to the Forex market through the use of derivative instruments known as Contracts for Difference (CFDs). You can choose to trade:

• A range of major, minor and exotic forex pairs. UAE specification PDFs list around 22 pairs; UK and Offshore counts are not officially broken down on current pages.
• Available on MetaTrader 4 and MetaTrader 5 platforms.
• Maximum leverage of 1:500 (dynamic) via the offshore entity HYCM Capital Markets S.R.L. (Costa Rica). The Cayman entity referenced in older sources is no longer on HYCM’s licence page.

The following snapshot visualises more detailed specifications of some of HYCM’s Forex trading products.

Trading CFD Stocks with HYCM

HYCM’s share CFD leverage varies by entity. Retail clients are subject to share CFD leverage caps set by the regulator of the entity they open an account with. The share CFD leverage available to retail clients is capped by the regulator of the entity they open an account with, and margin requirements on US equity CFDs such as Apple, Amazon, Google, Tesla vary accordingly. Offshore clients receive up to 1:20 on US stocks per the official offshore leverage page. The offshore site also offers a separate “Stocks (NEW)” product for investing in over 1000 stocks (real share dealing, not CFDs). The following snapshot visualizes more detailed specifications of HYCM’s Stock trading products.

Trading CFD Indices with HYCM

Another asset class accessible for trade via CFDs includes global indices. HYCM grants access to major global stock indices including the S&P 500, Nasdaq 100, Dow Jones, FTSE 100, DAX 40, EuroStoxx 50, CAC 40, Nikkei 225, Hang Seng and others. The Fixed Spread specification PDF lists 14 index CFDs.

Maximum leverage on indices varies by entity. Offshore (Costa Rica): 1:100 on US indices (cash and futures); 1:50 on other indices; 1:33 on India and China futures. Retail clients: leverage caps on major and minor indices are set by the regulator of the entity they open an account with.

Trading CFD Commodities with HYCM

Commodity markets provide a good opportunity for investors to diversify their portfolios, as they could play the role of a “safe haven segment” in times of economic and political turmoil or force majeure events.

HYCM offers commodity CFDs across metals, energy and soft commodities. Maximum leverage varies by instrument and entity. Offshore (Costa Rica): spot gold 1:200 (dynamic); silver 1:33; copper future 1:67; US oil 1:25; Brent 1:50; natural gas 1:33; soft commodities (cocoa, coffee, sugar, cotton) 1:50. Retail clients: leverage caps on gold and other commodities are set by the regulator of the entity they open an account with. The broker will charge no commissions on Fixed Spread and Classic accounts, while Raw account holders will be charged an additional fee on top of the bid-ask spread.

Cryptocurrency Trading

HYCM offers cryptocurrency CFDs through its offshore entity at maximum leverage of 1:20 per the official offshore leverage page. The exact list of supported cryptocurrencies is not enumerated on the current public page. Cryptocurrency CFDs are NOT available to retail clients of entities whose regulator prohibits them. Cryptocurrency is not in the product range of every HYCM entity; check the range of the entity you open an account with.

Leverage Offered by HYCM by Region

HYCM leverage offered is dependent on several factors:

• Local jurisdiction
• Trading instrument
• Trading platform

Maximum leverage is determined by the regulated entity opening the client’s account:

• HYCM Capital Markets (UK) Limited (FCA, FRN 186171) for UK retail clients: up to 1:30 on major forex pairs, 1:20 on minors and exotics on both MT4 and MT5. Crypto CFDs not available to UK retail.
• HYCM Limited (DFSA, F000048) for UAE clients: trading conditions mirror UK FCA retail caps. Up to 1:30 majors, 1:20 minors per UAE Fixed Spread and Variable Spread specification PDFs. UAE clients are simultaneously booked under the UK FCA entity for client money purposes.
• HYCM Capital Markets S.R.L. (Costa Rica) for offshore/global clients: up to 1:500 on major and minor forex pairs (dynamic, stepping down at 10, 20 and 30 lot tiers); 1:100 on exotic forex; 1:20 on cryptocurrency CFDs; 1:200 on spot gold; 1:20 on US stocks. Full per-asset table on the official offshore leverage page.

HYCM’s CySEC-regulated European entity (HYCM (Europe) Ltd) ceased operations on 10 June 2024 and is no longer accepting EU or EEA clients.

• HYCM (Europe) Ltd held a CySEC licence offering up to 1:30 on major pairs and 1:20 on minors and exotics. CySEC withdrew that authorisation on 10 June 2024 and HYCM no longer serves EU or EEA clients, so this tier is closed.

The different leverage ratios depending on the asset class, jurisdiction and trading platform are visualized below.

HYCM uses a dynamic forex leverage model, which is available only on the MetaTrader 4 platform. The general rule is that as the volume of a selected trading instrument increases, the client will be granted access to lower maximum leverage.

Customer Service

As a Forex broker with rich business history, HYCM provides professional customer support service available 24/5, five days a week. In 2012, the company was named Best Customer Service Provider by Forex Awards. HYCM delivers its client support service in 12 different languages:

• Arabic
• Czech
• German
• English
• Spanish
• Persian
• French
• Italian
• Polish
• Russian
• Swedish
• Chinese (Mandarin)

Perhaps the most convenient way to contact a representative from HYCM’s customer support team is via the Live Chat option. HYCM can deliver fast customer service via the live chat. The HYCM forex specialists can be contacted live via 5 secure instant messaging services including:

• Viber
• WhatsApp
• Skype
• Telegram
• Facebook Messenger

Depending on the matter, about which you contact HYCM’s team, the brokerage has provided the following emails for your convenience:

Research and Education

HYCM’s Help Center covers various topics, ranging from:

• Typically asked questions (FAQs)
• Forex basics
• And extensive educational materials

Final Verdict on HYCM

HYCM offers a well-rounded trading experience with strong regulatory oversight, a wide range of assets, and competitive spreads. With a choice between fixed and variable spreads, this broker accommodates various trading styles. Its user-friendly platforms, including MT4 and MT5, make it accessible for both beginners and experienced traders. While customer support is reliable, the limited range of account types and high inactivity fees could be a downside for some. Overall, HYCM is a reputable broker with a solid track record.