Overall Rating: ★★★★☆ (4.2/5)

Broker Overview

HYCM, short for Henyep Markets, is a globally recognised forex and CFD broker with a strong history dating back to 1977. Offering a broad range of financial instruments, multiple platform options, and regulation across major jurisdictions, HYCM has become a preferred choice for both beginner and experienced traders. In this HYCM review, we explore its key features, account types, platforms, fees, regulation, and who it is best suited for.

Key Features of HYCM

HYCM provides a compelling trading experience with:

• Over 300 Financial Instruments: Forex, commodities, stocks, indices, and cryptocurrencies.
• MetaTrader 4 and MetaTrader 5: Reliable and versatile trading platforms.
• Tight Spreads: Starting from 0.2 pips on Raw accounts.
• Global Regulation: Licensed by the FCA, CySEC, and CIMA.
• Multiple Account Types: Including fixed and raw spread options.
• Strong Reputation: Over 40 years of financial market experience.

HYCM focuses on delivering security, choice, and competitive pricing to traders worldwide.

Account Types Offered by HYCM

HYCM offers three primary account types:

• Fixed Account:
  • Fixed spreads from 1.8 pips
  • No commissions
  • Ideal for beginner traders seeking predictable costs
• Classic Account:
  • Variable spreads starting from 1.2 pips
  • No commissions
  • Suitable for traditional traders
• Raw Account:
  • Spreads starting from 0.2 pips
  • $4 commission per round trip
  • Best for scalpers and high-frequency traders

All accounts require a minimum deposit of $100 and offer leverage up to 1:30 for FCA and CySEC clients and up to 1:500 for CIMA clients.

Trading Platforms and Tools

HYCM supports the two most popular platforms in the industry:

• MetaTrader 4 (MT4): Trusted for its stability, automated trading through EAs, and comprehensive technical analysis tools.
• MetaTrader 5 (MT5): Enhanced with more indicators, timeframes, and integrated market depth features.

HYCM also provides VPS hosting services for eligible clients who require fast execution and minimal latency.

Regulation and Security

HYCM is regulated by several highly respected financial authorities:

• Financial Conduct Authority (FCA), United Kingdom:
  HYCM (Europe) Ltd operates under license number 186171.
• Cyprus Securities and Exchange Commission (CySEC):
  HYCM (Europe) Ltd operates under license number 259/14.
• Cayman Islands Monetary Authority (CIMA):
  HYCM Ltd is regulated under license number 1442313.

This strong regulatory oversight ensures that HYCM adheres to strict standards regarding client fund protection, segregation of accounts, and operational transparency.

Fees and Spreads

HYCM’s fee structure varies depending on the account type:

• Spreads:
  • Fixed Account: From 1.8 pips
  • Classic Account: From 1.2 pips
  • Raw Account: From 0.2 pips
• Commissions:
  • $4 per round trip on Raw accounts
• Deposit/Withdrawal Fees: No fees charged by HYCM
• Inactivity Fees: $10 monthly after 90 days of inactivity

HYCM’s trading costs are competitive, especially on the Raw Account, which benefits active traders.

Deposit and Withdrawal Options

HYCM offers a good range of payment methods:

• Deposit Methods: Bank transfer, Visa/Mastercard, Skrill, Neteller, WebMoney, Crypto payments
• Withdrawal Methods: Same as deposit methods
• Processing Time: Withdrawals are typically processed within 1 business day

There are no deposit or withdrawal fees from HYCM’s side, although third-party charges may apply.

Customer Support

HYCM provides efficient and helpful customer support:

• Support Hours: 24/5
• Contact Methods: Live chat, email, and phone
• Help Centre: Extensive FAQs, trading guides, and platform tutorials

HYCM’s support team is knowledgeable and responsive, able to assist with both technical and trading-related queries.

Educational Resources

HYCM offers strong educational support for traders:

• Webinars: Regular sessions hosted by industry experts.
• eBooks: Covering trading strategies, risk management, and technical analysis.
• Video Tutorials: Step-by-step guides on using MT4 and MT5 platforms.
• Market Analysis: Daily updates with technical and fundamental insights.

The broker’s educational content is particularly useful for beginner to intermediate traders.

Pros and Cons of HYCM

Pros:

• Regulated by FCA, CySEC, and CIMA
• Wide choice of account types to suit different strategies
• Access to both MT4 and MT5 platforms
• Strong reputation with decades of experience
• Competitive spreads on Raw accounts

Cons:

• Inactivity fees after 90 days
• Limited choice of trading instruments compared to larger multi-asset brokers
• No proprietary trading platform

Who Should Choose HYCM?

HYCM is well-suited for:

• Beginner Traders: Who benefit from fixed spreads and strong educational support.
• Experienced Traders: Who value access to Raw spreads and low commissions.
• Forex and CFD Traders: Looking for reliable execution and strong regulatory protection.
• Scalpers and EA Users: Due to the broker’s support for automated trading.

Those seeking an even wider range of asset classes like futures or options may prefer larger brokers.

Conclusion

HYCM is a reputable and well-regulated broker offering secure trading conditions, competitive spreads, and reliable platform access. Its range of account types, tight spreads on Raw accounts, and strong educational support make it a strong choice for traders at all levels. With a history spanning over four decades, HYCM remains a trustworthy and professional broker for forex and CFD trading.