Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
HYCM Pros & Cons
- extensive experience and reliability - the company has been operating for over 40 years;
- excellent trading conditions;
- good liquidity;
- fast execution of orders;
- over 300 trading instruments;
- 5 types of investments;
- spreads from 0.1 pips;
- multilingual support in 14 languages;
- customer service in popular apps: Skype, Viber, Telegram, WhatsApp and Facebook;
- convenient mobile platform, which is one of the best;
- protection against negative balance.
- customer service does not work on weekends;
- inconvenient for scalping;
- few opportunities for passive trading;
- there is no cent account.
HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc.
TU Expert Verdict
HYCM demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Brokers Traders Prefer
HYCM User Reviews
-
5-star
14%
-
4-star
16%
-
3-star
67%
-
2-star
4%
-
1-star
0%
-
Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria9 /10The trading and non-trading commissions of HYCM have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Inactivity fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of HYCM with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, HYCM’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
HYCM Standard spreads HYCM OANDA FOREX.com EUR/USD min, pips 0.5 0.1 0.7 EUR/USD max, pips 1.2 0.5 1.2 GPB/USD min, pips 0.8 0.1 0.9 GPB/USD max, pips 2.0 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
HYCM RAW/ECN spreads HYCM OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 2 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.2 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with HYCM. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
HYCM Non-Trading Fees HYCM OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 10 0 15 -
Is HYCM Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria10 /10HYCM has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record over 29 years
- Strict requirements and extensive documentation to open an account
HYCM Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level FCA UK
Full Name Financial Conduct Authority Country of regulation United Kingdom Investor Protection Fund Up to £85,000 Regulation Level Tier-1 CySec
Full Name Cyprus Securities and Exchange Commission Country of regulation Cyprus Investor Protection Fund Up to €20,000 Regulation Level Tier-1 ASIC
Full Name Australian Securities and Investments Commission Country of regulation Australia Investor Protection Fund No specific fund but has stringent consumer protection Regulation Level Tier-1
DFSA Full Name Dubai Financial Services Authority Country of regulation Dubai Investor Protection Fund No specific fund Regulation Level Tier-2 Abbreviation CIMA Full Name Cayman Islands Monetary Authority Country of regulation Cayman Islands Investor Protection Fund No specific fund Regulation Level Tier-3 HYCM Security Factors Foundation date 1997 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5.8 /10HYCM offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Tight spread ECN account
- Demo account
- Low minimum deposit
- Micro lots are not available
- No Cent account
HYCM account types vs top competitors HYCM Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free YesNoNoVIP NoNoNoManaged NoNoNoHYCM accounts trading conditions
HYCM (HY Markets) offers to open several types of accounts at one’s choice. The standard currency for replenishment is euro, dollar, pound and rouble. In addition, the company offers to open a VIP account. Traders can use the services of a personal manager on such accounts, and a more complete analysis of the market is available to them. In addition, more favorable spreads are provided for fixed VIP accounts.
Types of accounts:
Account Type Description Fixed an account with a lot size of 0.01 and a minimum deposit of 100 US dollars. There are no swaps on this type of account, while spreads are fixed - from 1.8 pips. Replenished without commission; Classic with the same minimum deposit and lot size as for Fixed, no swap. It is distinguished by a lower spread (fixed and floating) - from 1.2 pips, as well as the ability to use expert advice. There is no commission for replenishing a classic account; Raw a minimum unit of trading on this type of account is 0.01 lots, there are no swaps and it is possible to use the advice of expert analysts. This account has the lowest, in comparison with other accounts, net spread - from 0.1 pips. However, the replenishment amount already starts from 200 US dollars the broker takes a commission for depositing funds – 4 US dollars. Before opening an account, a trader has the option to become familiar with the capabilities of the broker and evaluate the functionality of the platform by using their free demo account. For traders who have not yet decided on the type of account, the company offers to go through a small survey to help make a decision.
HYCM provides both classic MT4 and MT5 trading terminals and the mobile platform for trading. The broker offers bonuses for a comfortable start. They cannot be withdrawn, but can be used in trade.
-
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7 /10HYCM received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
HYCM provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Minimum deposit below industry average
- Bank wire transfers available
- No deposit fee
- No withdrawal fee
- Only major base currencies available
- Wise not supported
- BTC not available as a base account currency
What are HYCM deposit and withdrawal options?
HYCM provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT.
HYCM Deposit and Withdrawal Methods vs Competitors HYCM Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are HYCM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. HYCM supports the following base account currencies: USD, EUR, GBP, CAD, RUB, AED.
What are HYCM's minimum deposit and withdrawal amounts?
The minimum deposit on HYCM is $20, while the minimum withdrawal amount is $20. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact HYCM’s support team.
-
Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.8 /10HYCM offers a limited selection of trading assets compared to the market average. The platform supports 300 assets in total, including 70 Forex pairs.
- Commodity futures are available
- Crypto trading
- 70 supported currency pairs
- No ETFs
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by HYCM with its competitors, making it easier for you to find the perfect fit.
HYCM Plus500 Trading.com Currency pairs 70 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 300 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products HYCM offers for beginner traders and investors who prefer not to engage in active trading.
HYCM Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading NoNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at HYCM by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.9 /10We successfully registered an account with HYCM in 5 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at HYCM is $20. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Fast registration time (up to 15 minutes)
- Account approval may require extra time depending on the documentation.
HYCM account opening HYCM Plus500 Trading.com Online Registration YesYesYesMinimum deposit $20 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 5 20 KYC time (days) 2 3 2 Is HYCM available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To make it easier for you to start working with HYCM broker, we suggest that you familiarize yourself with the following information.
You can login to your HYCM Personal account from the main page of the broker's website. To do this, just click Login.
To authorize, you have to enter your email address and password.
If you have not opened an account with the broker yet, click on Create a live account and go through the registration. You will also need to go through the verification of the passport data.
After registration / authorization, you can replenish your account, download and start MT4 or MT5 terminal, install the Henyep-Live server and start trading.
In your Personal account you can choose a trading instrument, use the broker’s bonuses, withdraw funds.
In addition, you will find the following in your Personal account at HY Markets:
- fresh analytical data;
- statistics on the trade with the help of advisers;
- statistics on the effectiveness and profitability of affiliate programs;
- useful educational information;
- access to the history of trading operations and replenishment-withdrawal of funds;
- current quotes;
- customer service for professional advice.
-
Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.2 /10HYCM received a score of 7.2/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- MetaTrader is available
- Trading bots (EAs) allowed
- One-click trading
- API access for automated trading
- No access to a proprietary platform
- No access to Free VPS
- No access to cTrader and its advanced tools.
Supported trading platforms
HYCM supports the following trading platforms: MT4, MT5. This selection covers the basic needs of most retail traders. We also compared HYCM’s platform availability with that of top competitors to assess its relative market position.
HYCM Plus500 Trading.com MT4 YesNoNoMT5 YesNoYescTrader NoNoNoTradingView NoYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader NoYesYesKey HYCM’s trading platform features
We also evaluated whether HYCM offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts NoTrading bots (EAs) YesOne-click trading YesScalping NoSupported indicators 68 Tradable assets 300 Additional trading tools
HYCM offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
HYCM trading tools vs competitors HYCM Plus500 Trading.com Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. YesNoYesAPI YesNoNoFree VPS NoNoNoStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoNoAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. NoNoNo -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria7.7 /10HYCM supports mobile trading, offering dedicated apps for both iOS and Android. HYCM received a score of 7.7/10 in this section, indicating a generally acceptable mobile trading experience.
- Indicators supported
- Supports mobile 2FA
- Solid iOS user feedback, with a rating of 5.0/5
- Weak user feedback on Android
We compared HYCM with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
HYCM Plus500 Trading.com Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 50,000 10,000,000 50,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 5.0 4.7 4.8 Google Play score 3.4 4.4 4.7 Mob. 2FA YesYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at HYCM by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5.1 /10Customer support at HYCM is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. HYCM provides basic support functionality but does not stand out in overall service performance.
InformationThe company's customer service is ready to answer customer’s questions and help traders around the clock 5 days a week.
- Many options for communication
- Multilingual support
- The site has a section with answers to the most popular questions.
- You can ask a question without being a broker’s customer
- Does not work on weekends
There are several ways to contact customer service:
- directly by phones indicated at the site;
- by email;
- in the online chat at the broker's website;
- on popular apps: Facebook, Viber, Skype, WhatsApp and Telegram;
- using the callback form.
Customer service is available from HYCM website (hycm.com) and from your personal account.
Contacts Foundation date 1997 Registration address 47, Spyrou Kyprianou Avenue, The Noble Center, 4th Floor, Mesa Geitonia, CY-4003 Limassol Regulation FCA, CIMA, DFSA Licence number:
186171, 1442313, F000048.Official site hycm.com Contacts accounts@hycm.com support@hycm.com + 44 - 208 - 816 - 7812
Best HYCM Alternatives
FAQs
What commissions and fees does HYCM charge for forex trading and account maintenance?
HYCM is assessed as having generally low trading and non-trading fees, with a fees score of 9/10 and advantages such as low forex trading costs, tight EUR/USD spreads, and no deposit or withdrawal fees. Standard account EUR/USD spreads typically range from 0.5 to 1.2 pips, while RAW/ECN accounts show average EUR/USD spreads around 0.1 pips plus a $2 commission per lot, and there is a $10 per month inactivity fee.
What account types and trading conditions are available at HYCM?
HYCM offers Demo, Standard, ECN/Raw spread, Swap Free (Islamic), Fixed, Classic, Raw, and VIP accounts, though it does not provide Cent, Micro, or managed accounts. Minimum deposits for Fixed and Classic accounts are stated as $100 with fixed or floating spreads from 1.8 and 1.2 pips respectively, while the Raw account starts from $200 with spreads from 0.1 pips plus a $4 deposit commission, and all main platforms are available on MT4, MT5, and mobile.
What do HYCM user reviews and feedback say about the broker?
HYCM has a user satisfaction score of 6.8/10 based on 51 reviews, with most ratings clustered around 3 stars and smaller portions of 4- and 5-star reviews, indicating a mixed overall impression. According to user reviews, 14% are 5-star, 16% are 4-star, 67% are 3-star, 4% are 2-star, and there are no 1-star ratings reported in this section.
Which markets and tradable assets can you access with HYCM?
HYCM provides access to 300 tradable instruments, including 70 currency pairs, stocks, commodity futures, cryptocurrencies, and stock indices, but does not offer options. The review also notes that HYCM does not provide bonds, ETFs, copy trading, PAMM investing, or managed accounts, and describes the overall asset selection as limited compared to the market average.
How is HYCM customer support rated in user comments and what contact options are available?
Customer support at HYCM has a safety score of 5.1/10, with testing indicating moderate response times and service quality that can vary depending on the complexity of the request. Support is available 24 hours a day, 5 days a week (not on weekends) via phone, email, website live chat, popular messaging apps such as Facebook, Viber, Skype, WhatsApp, and Telegram, as well as a callback form, and the site includes a FAQ section for common questions.
Articles that may help you
-
#For Beginners
HYCM Fees and Spreads (October 2026)
October 2026 Andrey Mastykin -
#For Beginners
HYCM Minimum Deposit and Funding Options
October 2026 Andrey Mastykin -
#For Beginners
HYCM Deposit Bonus and Referral Program 2026
October 2026 Mikhail Vnuchkov -
#For Beginners
HYCM Available Countries – Full List (2026)
October 2026 Parshwa Turakhiya -
#For Beginners
HYCM Withdrawal Fees, Time & Payment Methods (2026)
October 2026 Andrey Mastykin -
#For Beginners
How Fed Market Interventions Shape Markets And The Economy
October 2026 Andrey Mastykin -
#For Beginners
Best Forex Options Brokers For 2026
October 2026 Rinat Gismatullin -
#For Beginners
Best Brokers for Commodity Trading in 2026
October 2026 Winnifred Emmanuel -
#For Beginners
How to Start Investing in Foreign Currency
October 2026 Ivan Andriyenko