Group traces to 1977 (Henyep Capital Markets Group); the "HYCM" brand itself was only adopted in 2016. A mid-sized broker relative to the largest names on this list, with its regulatory footprint recently reduced by the 2024 voluntary surrender of its CySEC licence.
| Regulated entity | HYCM Capital Markets (UK) Limited |
|---|---|
| Regulation | FCA No. 186171 |
| Other Tier-1 regulators | DFSA |
| Founded | 1977 |
| Headquarters | London, UK (parent Henyep Capital Markets Group originated in Hong Kong, with further entities in Cyprus and Dubai) |
| Minimum deposit | Not independently confirmed |
| Avg. spread (EUR/USD) | Not independently confirmed |
| Platforms | MT4, MT5, Proprietary (HYCM Trader) |
| Instruments | 200-300+ instruments (third-party estimates disagree on the exact count) across forex, indices, commodities, shares, ETFs, and crypto CFDs (crypto limited to the Cayman Islands entity's clients only). No official total was found on hycm.com. |
See HYCM's full regulation dossier → · How to check whether a forex broker is regulated
Derived from the same confirmed data behind this broker's score (regulation, cost, platforms, deposit minimum) -- not a separate editorial judgment.
Via its FCA-regulated UK entity, eligible clients are covered by the UK's Financial Services Compensation Scheme (FSCS) up to £85,000 per person if the firm fails.
Beyond the headline spread and minimum deposit above. Where our research hasn't independently confirmed a specific detail, we say so rather than guess -- verify directly with the broker before relying on it.
| Account types | Fixed (minimum $20, fixed spreads from 1.8 pips, commission-free, automated trading/EAs not available), Classic (minimum $20, floating spreads from 1.2 pips, commission-free, EAs allowed), and Raw (STP/ECN-style, spreads from 0.2 pips, around $4 commission per round turn, minimum $20). An Islamic account is available across all three: swap-free for the first 14 days of a position, after which a reported $5-per-night storage fee per contract applies. |
|---|---|
| Execution model | Generally STP; the Raw account is specifically described as STP/ECN-style. |
| Withdrawals & deposits | No HYCM-side deposit fees (card processing typically carries a 1-3% charge industry-wide). Withdrawals are fee-free above $300; below that, card withdrawals cost 1-4%, bank wire $20-50 per transaction, and e-wallets roughly 0.5-4% (often including currency conversion). Processing: card 1-3 business days, wire 1-4 business days, Skrill within 1 business day. Minimum deposit is reported as $20 generally, though card/wire may require $100 per some sources -- figures conflict slightly. |
| Overnight financing (swap) | Standard floating swap (positive or negative depending on instrument) for non-Islamic accounts; no specific benchmark/markup breakdown was found. Islamic accounts are swap-free for the first 14 days, after which a flat $5-per-night storage fee replaces the swap. |
| Currency conversion cost | One source cites a "$10 currency conversion fee," but it's unclear whether this is per-transaction, flat, or percentage-based -- treat as unverified. |
| Inactivity fee | One source cites $10/month after 90 days of dormancy; this wasn't cross-confirmed on a second independent page, so treat as provisional. |
| Customer service | One source cites a Trustpilot Net Promoter Score of 88; another independent review site rates it 4.3/5 overall. Reviews are mixed, with some account-closure/payment-issue complaints. Worth disclosing: HYCM (Europe) Ltd voluntarily surrendered its CySEC licence effective 10 June 2024, and now operates in Europe only via its FCA (UK) and DFSA (Dubai) authorizations. |
| Mobile experience | Not independently confirmed -- no numeric App Store or Google Play rating was found for HYCM's app specifically. |
| Educational offering | Offers video courses and webinars aimed at beginners; one reviewer specifically notes it lacks advanced educational content for experienced traders. Trading Central research tools (Analyst Views, economic calendar) are provided. One independent review site scores its education 7.5/10, research 7.0/10, and overall 7.8/10. |
See how HYCM's spread cost compares across every researched broker → · Forex broker fees explained
Is HYCM regulated?
Yes -- FCA No. 186171. See the regulation dossier on this page for the underlying licence numbers.
Is my money protected if HYCM fails?
Via its FCA-regulated UK entity, eligible clients are covered by the UK's Financial Services Compensation Scheme (FSCS) up to £85,000 per person if the firm fails.
What is the minimum deposit at HYCM?
Not independently confirmed in our research -- verify directly with the broker.
What trading platforms does HYCM offer?
HYCM offers MT4, MT5, Proprietary (HYCM Trader).
What is HYCM's average spread on EUR/USD?
Not independently confirmed in our research -- verify directly with the broker.
When was HYCM founded?
HYCM was founded in 1977.
How is HYCM's overall score calculated?
HYCM currently scores 3.06/5 overall under our disclosed nine-category methodology -- regulation & client protection 30%, trading costs 20%, non-trading fees 10%, platforms & tools 10%, execution/trading conditions 10%, product range 5%, deposits/withdrawals 5%, transparency 5%, track record 5%. It is not a comparison to other brokers and not based on hands-on testing.
A dated log of when our own published data about this broker actually changed -- not a reconstructed history of what the broker itself did. See the full change log tool for every broker.
EU clients typically served under Central Bank of Ireland / MiFID passporting rather than a direct CySEC CIF licence -- worth confirming which entity applies to you.
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