HYCM (Henyep Capital Markets) stands as one of the most established and historically significant global Forex and CFD brokers. Founded in 1977, HYCM offers traders a rare blend of longevity, institutional-grade regulation, and competitive pricing across multiple account structures. This expert HYCM review 2026 dissects every critical aspect of the brokerage—from its stringent regulatory framework to its execution speed and trading fees—to determine its suitability for modern retail traders.
As regulatory standards continue to tighten globally, HYCM’s commitment to multiple Tier-1 and Tier-2 licenses positions it as a highly reliable choice. Our analysis confirms that HYCM provides a robust, professional environment, utilizing the industry-standard MetaTrader suite and competitive spreads, particularly within its commission-based Raw account.
HYCM Safety and Regulation: Is HYCM a Scam or Legit?
In the world of online trading, safety is paramount. HYCM excels in this domain, providing multi-jurisdictional regulation that caters to both conservative European traders and high-leverage international clients. The broker’s long operating history, spanning over four decades, further cements its reputation as a legitimate and trusted entity.
Regulatory Oversight and Licensing
HYCM operates through several regulated entities, ensuring segregated client funds, financial transparency, and adherence to consumer protection protocols across various regions:
- Financial Conduct Authority (FCA), UK: Tier-1 regulation offering the highest level of investor protection, including access to the Financial Services Compensation Scheme (FSCS) up to £85,000.
- Cyprus Securities and Exchange Commission (CySEC): Tier-2 European regulation, providing protection under the Investor Compensation Fund (ICF).
- Dubai Financial Services Authority (DFSA): A respected financial regulator in the Middle East, confirming compliance with strict regional financial standards.
- Cayman Islands Monetary Authority (CIMA): Provides oversight for international clients seeking higher leverage options.
The combination of these licenses confirms that HYCM is not only legitimate but operates under stringent financial controls, making the risk of a scam exceptionally low. Client funds are kept in segregated accounts at top-tier banks, entirely separate from the company’s operating capital.
Pros and Cons of Trading with HYCM
Based on our comprehensive analysis of HYCM’s offering for 2026, here is a balanced summary of its key advantages and disadvantages:
| ✅ Pros | ❌ Cons |
|---|---|
| Regulated by multiple Tier-1 and Tier-2 authorities (FCA, CySEC, DFSA). | Inactivity fee of $10 per month after 90 days. |
| Extremely competitive spreads on the Raw account (from 0.2 pips). | Withdrawal fees apply to smaller transfers (under $300). |
| Long operating history (established 1977) enhances trust and reliability. | Limited proprietary trading tools; relies heavily on MT4/MT5. |
| Offers both MT4 and MT5, catering to diverse trading needs. | Higher minimum deposit ($100) compared to some competitors. |
| Excellent support for algorithmic trading (EAs, MAM, PAMM). | High retail investor loss percentage (78%). |
Broker Judge Rating for HYCM
Our expert analysts have scored HYCM across five key metrics crucial for Forex traders:
| Category | Score (out of 10) | Notes |
|---|---|---|
| Safety & Regulation | 9.8 | Tier-1 global regulation (FCA, CySEC, DFSA). Exceptional longevity. |
| Fees & Spreads | 9.0 | Highly competitive Raw account pricing. Good zero-commission options. |
| Platforms & Tools | 8.5 | Full MT4/MT5 support, but limited advanced proprietary charting. |
| Tradable Instruments | 9.2 | Wide range including 70+ Forex pairs, metals, indices, and crypto CFDs. |
| Customer Support | 9.0 | 24/5 multilingual support via live chat, email, and phone. |
| Overall Broker Judge Score | 9.1 | A strong, reliable, and professional broker suitable for all experience levels. |
HYCM Account Types and Structure
HYCM offers three primary account types designed to accommodate different trading strategies, volume needs, and capital levels. All accounts require a low minimum deposit of $100 and support USD, EUR, and GBP base currencies. Swap-free (Islamic) accounts are available upon request for all types.
1. Fixed Account
- Spreads: Fixed, typically from 1.5 pips.
- Commission: Zero.
- Best For: Traders who prioritize cost predictability and avoid slippage caused by variable spreads, especially during major news events.
2. Standard Account
- Spreads: Variable, typically from 1.5 pips.
- Commission: Zero.
- Best For: Beginner and intermediate traders who prefer a simple, all-inclusive trading cost structure without explicit commission charges.
3. Raw Account
- Spreads: Ultra-low variable spreads, starting from 0.2 pips.
- Commission: Fixed commission of $4 per round turn per lot.
- Best For: Professional traders, scalpers, and high-volume EAs seeking the lowest possible execution costs and institutional-grade liquidity. This account mirrors ECN-like pricing.
Trading Fees, Spreads, and Commission Analysis
Understanding the cost structure is crucial for long-term profitability. HYCM offers competitive pricing, especially when considering the security provided by its multiple regulatory licenses.
Forex Spreads Comparison (EUR/USD)
The cost effectiveness of HYCM depends heavily on the chosen account type:
- Standard/Fixed Accounts: Spreads average around 1.5 to 1.8 pips on EUR/USD. This is slightly higher than some retail competitors but competitive for a zero-commission offering.
- Raw Account: Spreads drop significantly to an average of 0.3–0.5 pips on EUR/USD, plus the $4 commission per round turn. The effective total cost here often rivals the best ECN brokers in the industry, making it ideal for high-frequency trading and scalping.
Non-Trading Fees
HYCM implements an inactivity fee, a common industry practice. A fee of $10 per month is charged if an account remains dormant (no trading activity or fund movements) for 90 consecutive days. Withdrawal fees are generally waived for transfers over $300, but smaller withdrawals incur a $10 processing charge.
Margin Call and Stop Out Levels
HYCM sets clear risk management parameters. The Margin Call level is set at 100%, notifying the trader when their equity falls to 100% of the required margin. The Stop Out level is 50%, at which point the broker automatically closes positions, starting with the least profitable, to prevent the account balance from falling into a negative territory.
HYCM Trading Platforms
HYCM relies on the robust and globally recognized MetaTrader suite, offering stability and familiarity to millions of traders worldwide.
MetaTrader 4 (MT4)
MT4 remains the gold standard for Forex trading due to its powerful charting capabilities, extensive library of custom indicators, and primary support for automated trading via Expert Advisors (EAs). HYCM offers MT4 across desktop, web, and mobile platforms.
MetaTrader 5 (MT5)
MT5 builds upon the success of MT4, offering additional asset classes (especially stock CFDs), more timeframes, advanced analytical tools, and a more modern MQL5 programming language. We recommend MT5 for traders interested in a broader market scope beyond just Forex.
HYCM Mobile App
The dedicated mobile application ensures traders have full control over their accounts and positions while on the move. Both MT4 and MT5 mobile versions are fully supported, offering the same execution quality and charting functionalities found on the desktop versions.
Deposits and Withdrawals
HYCM maintains efficiency and transparency regarding fund transfers, although processing times vary by method.
Deposit Methods
Deposits are generally fast and commission-free on HYCM’s side, though third-party charges may apply. Available methods include: Bank Wire Transfer, Credit/Debit Cards (instant processing), Skrill, Neteller, and China UnionPay. The minimum initial deposit is accessible at $100.
Withdrawal Methods and Fees
Withdrawals are processed through the same methods used for deposits, adhering to anti-money laundering regulations. HYCM processes withdrawal requests within 1-2 business days. The key policy to note is the fee structure:
- Withdrawals $300 and over: Free of charge.
- Withdrawals under $300: $10 administration fee applied.
Tradable Instruments and Market Coverage
HYCM provides excellent market depth across all major asset classes, suitable for diversified portfolios.
- Forex (Currencies): Over 70 major, minor, and exotic currency pairs, providing ample opportunities for forex trading India and globally.
- Indices CFDs: Major global indices including S&P 500, FTSE 100, DAX 40, and Nikkei 225.
- Commodities CFDs: Energies (Crude Oil, Natural Gas), Agriculture, and Soft Commodities.
- Metals CFDs: Spot Gold, Silver, Platinum, and Palladium paired against major currencies.
- Stocks CFDs: A large selection of shares from US and European markets.
- Cryptocurrency CFDs: Popular crypto assets like Bitcoin, Ethereum, Litecoin, and Ripple are available for trading against the USD.
Customer Service and Support
Reflecting its global footprint, HYCM offers dedicated customer support 24 hours a day, five days a week (24/5). Support is provided in multiple languages via telephone, email, and live chat. Our tests found the live chat response times to be quick, and agents knowledgeable about account structures and platform issues.
Furthermore, HYCM offers a robust educational suite, including detailed educational videos, webinars, market research articles, and daily analysis, adhering to E-A-T principles by providing high-quality, actionable market insights.
HYCM vs. Competitors: A Comparative Look
To provide a clear market context, we compare HYCM against two leading brokers based on key criteria relevant to serious traders:
| Feature | HYCM (Raw Account) | Broker X (Competitor) | Broker Y (Competitor) |
|---|---|---|---|
| Primary Regulation | FCA, CySEC, DFSA | ASIC, FCA | FCA, CySEC, BaFin |
| Minimum Deposit | $100 | $0 | $200 |
| EUR/USD Spread (Raw/ECN) | 0.2 pips + $4 commission | 0.1 pips + $7 commission | 0.6 pips (Zero Commission) |
| Max Leverage (Offshore) | 1:500 | 1:400 | 1:300 |
| Trading Platforms | MT4, MT5 | MT4, Proprietary | MT4, MT5, cTrader |
HYCM remains highly competitive in terms of total trading costs and boasts a stronger regulatory profile than many offshore-focused brokers, making it a powerful contender for institutional and high-volume retail trading.
Final Expert Verdict on HYCM
After an exhaustive review of HYCM’s operational structure, regulatory framework, and trading conditions, BrokerJudge.com concludes that HYCM is a highly credible and robust Forex and CFD broker. Its nearly five decades of operation, coupled with strict Tier-1 regulation from the FCA and CySEC, establish maximum trust.
While the Standard account spreads are average, the Raw account offers some of the lowest effective trading costs available globally, making HYCM an excellent choice for experienced traders who execute frequently. The broker’s reliable MT4/MT5 platforms, comprehensive asset list, and institutional-grade liquidity provision solidify its position as a top-tier financial service provider in 2026. For serious traders looking for safety combined with competitive execution, HYCM is highly recommended.
Frequently Asked Questions (FAQs) about HYCM
Q1: Is HYCM safe and regulated?
A: Yes, HYCM is considered exceptionally safe. It is regulated by multiple respected authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), and CIMA, ensuring high standards of client fund segregation and financial conduct.
Q2: What is the minimum deposit required to open an HYCM account?
A: The minimum initial deposit to open any of the primary account types (Fixed, Standard, or Raw) at HYCM is $100.
Q3: Does HYCM offer a commission-free trading account?
A: Yes. HYCM offers both the Fixed Account and the Standard Account, which are commission-free. Trading costs are incorporated entirely into the spread, which typically starts from 1.5 pips.
Q4: What trading platforms does HYCM support?
A: HYCM supports the industry-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available across desktop, web, and mobile devices.
Q5: What is the maximum leverage available at HYCM?
A: Maximum leverage depends on the regulatory entity. For clients trading under the FCA or CySEC, leverage is restricted to 1:30. For clients registered under the international entities (like CIMA), maximum leverage can be as high as 1:500.
Q6: Does HYCM allow scalping and EAs (Expert Advisors)?
A: Yes, HYCM allows all forms of trading strategies, including scalping, hedging, and the use of Expert Advisors/Robots, especially on the MT4 and MT5 platforms.
Q7: Are there any withdrawal fees at HYCM?
A: HYCM charges no withdrawal fees for transactions over $300. A small fee of $10 is applied to withdrawals below the $300 threshold.
Q8: Which countries are restricted from opening an HYCM account?
A: Due to local regulations, HYCM does not accept clients from the United States, Canada, Japan, North Korea, Iran, and several other countries listed in their terms and conditions.
Q9: Does HYCM offer cryptocurrency CFDs?
A: Yes, HYCM offers Contracts for Difference (CFDs) on major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Q10: Is a dedicated account available for professional traders?
A: Yes, the Raw Account is designed specifically for professional and high-volume traders, offering tighter spreads and a competitive commission structure. VIP status is also available for high-deposit clients.
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