Broker Reviews


HYCM Review



Account opening

Deposit / withdrawal

Markets and products

Customer service


Open Demo Account






Minimum deposit:

100 USD


Maximum leverage:




From 1.2 pips





US Clients:


HYCM Review

Looking for a reliable broker? There are some brokers that you should not trade with. If you are interested in signing up with HYCM or previously known as HY Markets, then take some time to read our review before registering.

HYCM Review: Company Information

Owned by Henyep Capital Markets UK Ltd and a subsidiary of the Henyep Group, HY Markets is an online broker based in London which provides their clients with access to international markets. They offer what some would consider a diverse range of products which includes commodities, precious metals, Forex, indices, and stocks however there are numerous other brokers which offer these products as well. Let’s see how well HYCM stands out with its services.

The Safety and Security of HYCM Regulations

Choosing the right broker can be a risky endeavor, especially with so many scam brokers around the world. Because of this, ensuring the safety of one’s funds and asking questions like whether is HYCM a scam should be a top priority. In this case, HYCM regulation is governed by multiple regulatory bodies:

  • Financial Conduct Authority, UK (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Dubai Financial Services Authority (DFSA)
  • Cayman Islands Monetary Authority (CIMA)
  • Saint Vincent and Grenadines Financial Services Authority (SVGFSA)
  • Securities and Futures Commission of Hong Kong (SFC)

Given the HYCM regulation status, it can make it easier to trade with this broker. However, there’s more to deciding what broker to trade with than just their regulation(s). As for regulations, HYCM seems more than legit.

HYCM offers negative balance protection to all its retail clients, but the company reserves the right to review each case and decide if it applies the policy or not. All minus equities will be set to zero as per the negative balance policy. This is a very good feature for beginners who can trade overleveraged and blow-up accounts. Going into minuses is easy for beginners and HYCM prevents it with negative balance protection.

HYCM Fees and Spreads

When it comes to spreads HYCM offers moderate numbers from 1.5 pips fixed spreads, or 1.2 pips dynamic spreads. Traders have the flexibility to select which type of spreads they prefer depending on their trading style and risk appetite. For the lowest spreads of 0.1 pips, there is a trading commission of 4 USD per side per lot. The industry average spread for standard accounts is accepted to be 1 pip, and the commission is around 7 USD round turn or 3.5 USD per side per lot. HYCM offers close to average spreads and commissions as we can see. Overall the fees and spreads are satisfactory from HYCM.

The broker charges a 10 USD per month inactivity fee after 90 days of dormancy.

HYCM Accounts, Deposits, and Withdrawals

HYCM Account Types

HYCM currently offers 3 different account types for traders to choose from:


To open a Fixed account the HYCM minimum deposit is $100. Trading with this HYCM account type starts at a minimum trade volume of 0.01 and fixed spreads from 1.5 pips with no additional commissions.


To open a Classic account the HYCM minimum deposit is also $100. Trading with this HYCM account type starts at a minimum trade volume of 0.01 and variable spreads starting from 1.2 pips with no additional commissions.


To open a Raw account the HYCM minimum deposit is $200. Trading with this HYCM account type also starts at a minimum trade volume of 0.01 and raw spreads start from 0.1 with an additional commission of $4 per round.

Deposits and Withdrawals at HYCM

The broker offers all popular methods for funding and withdrawals. While the processing of deposits takes up to 1 hour, the withdrawals will take up to 24 hours on the majority of methods. Supported methods are wire transfers, bank cards, Neteller, Skrill, Bitcoin, and Perfect Money. What’s more exciting is zero fees for both deposits and withdrawals.

HYCM Trading Assets and Features

HYCM is a serious broker as it offers both CFDs for stocks and real stocks for investing. It is possible to start investing in stocks with just 10 USD, commissions are zero, and dividends are paid. With real stocks, it is possible to both trade and invest in stock markets.

Stocks are over 1000 and stock CFDs are 141. HYCM allows leverage on the stock CFDs of up to 1:5. Other asset classes are also abundant. The broker provides access to 67 currency pairs with up to 1:500 leverage, 28 popular indices, 14 commodities including energies, metals, and soft commodities, and 4 cryptos with 1:20 max leverage.  Cryptos include Bitcoin, Ethereum, Litecoin, and Solana.

HYCM Platforms Review

HYCM offers their traders access to popular platforms MetaTrader 4 (MT4), and MetaTrader 5 (MT5).

These platforms are available for both desktop and mobile devices.

MT4 provides in-depth analysis along with customizability and is free. The main drawback of the MT4 trader in this case, like many others, is that it needs to be downloaded. But after the initial setup, it is not hard to use, and its rich features more than make up for its drawbacks. The same is true for MT5, which is the successor to MT4 and offers even more features and customizability.

HYCM Customer Service

HY Markets claims to offer 24/5 customer support. You can contact HYCM customer support through:

  • Email
  • Telephone
  • Live Chat
  • Call Back

Multilingual live chat is by far the best support method available at HYCM. it offers fast and reliable connections with broker representatives. Additionally, the broker has a comprehensive help center consisting of FAQs and a search tab.

Continue reading our Henyep Capital Markets review, if you want to learn more about this broker.

HYCM Education

HYCM has a dedicated section for education and offers webinars, seminars, Forex educational articles, and workshops. Seminars offer beginners and experienced traders the unique ability to physically attend the broker’s lectures and may be a good way to meet other traders. It is possible to register for one of the broker’s seminars and workshops to learn more about trading. Webinars are an excellent way to further perfect your knowledge in FX trading. Articles consist of trading psychology, capital management, the global trading world, various tutorials, ebooks, and beginner guides.

HYCM also offers various trading and market research tools. market analysis, technical analysis, economic calendars, and calculators should make trader’s life easier.

Should you consider HYCM? A Review Conclusion

HYCM is a reliable broker with diverse trading assets and multiple regulatory bodies overseeing its operations. They offer average fees, deposits and withdrawals, popular trading platforms, and good customer support. With diverse educational resources and trading tools available, HYCM is a reputable option for traders who seek a reliable broker.

While there are other better alternatives, HYCM is still a solid choice.

Which regulatory bodies oversee HYCM?

What account types does HYCM offer?

What trading assets are available on HYCM?

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