HYCM is the Forex brokerage department of Henyep Group, that begun operations in Hong Kong in the 1970s.

HYCM is a veteran in the industry with more than 35 years of it experience to its name. HYCM was before known as HY Markets. It has been an important player in the market by offering various financial products ranging from Forex trading to investments. HYCM has its base in London with some representatives in countries which include Hong Kong (China), Cyprus, Kuwait, and the United Arab Emirates.

Its list of regulatory compliance is impressive, with licenses given by the FCA in the UK, the SFC in Hong Kong and the DFSA in Dubai. Their compliance with MiFID has seen them gain authorization to operate across Europe. HYCM can offer traders a variety of trading opportunities ranging from stock and commodities to different currency pairs. Both beginners and experienced traders can gain a lot from the services of HYCM. Sections of the site are dedicated to educating traders. HYCM also has a selection of account types, segregated accounts, great customer service, different MT4 trading platforms, low spreads, and many other features.

Security of Funds

The London-based Henyep Capital Markets UK Ltd operates HYCM under authorization and regulation by the UK Financial Conduct Authority (FCA). Furthermore, the CySEC regulates its Cyprus division while a local regulator – the SFC licenses the Hong Kong-based subsidiary. UK’s financial watchdog is well known for enforcing strict requirements to brokerage firms. Licensed companies are expected to comply with certain rules and procedures which cover client funds, order execution, minimum capital requirement, consistent report filling and much more.

UK-based brokers are obligated to hold at least 730,000 EUR to prove their financially stable. The same minimum capital requirement is applicable to Cypriot brokerages. In relation to security of clients’ funds, companies under regulation by the FCA fall under the Finacial Services Compensation Scheme (FSCS). The umbrella body protects consumers up to $50,000 per person, in case the company goes bankrupt. The coverage is up to $20,000 in Cyprus.

Deposits and Withdrawals

To start trading, you’re required to deposit a minimum of $100 to open an account with HYCM. The operator offers several different methods to deposit and withdraw funds. They include major credit and debit cards, Skrill, WebMoney and bank wire transfers. The funds are secured through segregation in top-tiered banks and/or by national protection schemes.

Average Spreads and Commissions

HYCM is a fixed-spread forex broker, and just like most brokers, charges no commissions. In general, fixed spreads are wider than variables. They offer traders a more predictable trading environment and offers protection from wild spread wings which occur during news releases. The competitive spreads offered by the HYCM amount to 1.8 pips on EUR/USD on Standard accounts and 1.5 pips in VIP trading accounts. On average, fixed spreads amount to 2-3 pips.


The maximum leverage levels for HYCM is 1:400. This is considered high according to industry standards. Nonetheless, always remember that leverage is a double-edged sword. Higher leverage exposes you to higher risks and not only the probability of multiplying your profits on a small deposit.

Trading Platforms

HYCM provides traders with two trading platforms – the in-house web based PrimeTrader and the popular MetaTrader 4. PrimeTrader is a new multi-asset web platform. Its user-friendly interface has an integrated multiple pricing, advanced charts, and complete online account management. Guaranteed Stop/Loss is also available. For traders who prefer to work on the move, HYCM’s mobile apps are compatible with any mobile or tablet gadget. This platform is popular with many traders as it allows full automation of trades by Expert Advisors (EA), and lets the program do all the work. In addition, it offers various technical indicators and advanced charting package.

Account Types

HYCM has 3 types of trading accounts available. They include the Mini, Standard, and VIP trading accounts. The lack of a demo account is a bit disappointing. To makeup for that, the mini account is tailored for novice traders and requires a minimum deposit of $100 to open. More experienced traders can open a Standard account with a minimum deposit of $1,000. For professionals, the VIP trading account requires a minimum deposit of $10,000 and has the lowest spreads among the three account types. There’s also an Islamic trading account for Muslim traders.

Customer Support

Customer support services at HYCM are available from Sunday 23:00 to Friday 21:00. You can get in touch with them through email, live chat, and telephone. Apart from English, HYCM’s website is available in five other languages namely Arabic, Chinese, Spanish, Russian, and Italian. HYCM has a variety of online videos and eBooks to educate its clients on capital management, market analysis, trading strategies and a user guide for the MetaTrader4 trading platform.

Loyalty Program

The broker used to offer an HYCM bonus for traders depositing into their live trading accounts. But that seems to have stopped due to the conflict of interest with clients. Traders are expected to fulfill all the terms and conditions of a bonus before initiating any withdrawal. This makes it difficult to make a withdrawal. This has led to past conflicts between traders and the broker in regards to the applicable rules and policies. The good thing is HYCM is copying other FX brokers by offering a loyalty program that provides a cash rebate by accumulating certain lot conditions. This kind of loyalty bonus is free of terms and conditions and allows clients to withdraw their loyalty bonuses with no strings attached.


  • Customer support is available for 24 hours from Sunday to Friday
  • Traders have three types of trading accounts to choose from
  • The broker is FCA regulated
  • You rest assured your investment is protected by the Financial Services Compensation Scheme
  • Low minimum deposit requirements especially for novice traders.


  • The broker doesn’t have a demo account
  • The platform lacks promotional offers
  • There’s no localized telephone support
  • The educational library is poorly equipped
  • The spreads are uncompetitive.

As part of an international group with over 30 years’ experience in the industry, HYCM is a broker traders can trust due to its strong regulation. The main drawback is that it uses a market maker model which could lead to a conflict of interest with its clients.


EUR/GBP daily spread
USD/JPY daily spread
GBP/USD daily spread
EUR/USD daily spread


Stop Losses
Take profits

Buy and Sell Orders

150+ indicators and oscillators

Withdraw Payouts to Your Bank Account

The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

To receive further HYCM information

Just submit your details No commitment Get expert advice