HYCM Review 2025

Trust

HYCM Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the three entities operating under the HYCM trade name:

• HYCM Limited, also referred to as HYCM Capital Markets (DIFC) Limited, is licensed and regulated by the Dubai Financial Services Authority (DFSA) under license number F000048. We rate the DFSA as a Tier-2 regulator.
• HYCM Capital Markets (UK) Limited is licensed and regulated by the Financial Conduct Authority (FCA) of the UK under license number 186171. We rate the FCA as a Tier-1 regulator.
• HYCM Limited is incorporated as a business company in St Vincent and the Grenadines under registration number 25228 (BC 2018). The entity is not regulated.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity with which they choose to open an account.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of Client Funds: Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All HYCM entities guarantee the segregation of client funds from the company’s corporate capital.
• Negative Balance Protection: This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. All HYCM entities guarantee negative balance protection.
• Compensation Scheme: A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. Clients of HYCM Capital Markets (UK) Limited are protected by up to GBP 85,000 under the Financial Services Compensation Scheme (FSCS).
• Maximum Leverage: Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with HYCM is 1:500.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

Founded in 1977, HYCM’s long history speaks to its established presence and reliability in the market. According to its LinkedIn page, the broker employs over 100 professionals, further highlighting its operational scale and overall stability as a trusted industry player.

I reviewed HYCM’s legal documents and client agreement and found everything in order. All relevant information is readily available and easy to discern. I did not discover any transparency issues.

Is HYCM Safe to Trade With?

I determined that HYCM is safe to trade with due to the following factors:

• Licensed by the FCA and DFSA
• Keeps client funds in segregated accounts
• Ensures negative balance protection
• Has a comprehensive KYC process

Fees

HYCM Trading Fees

HYCM Spreads

I tested HYCM’s spreads on 29 April 2025 during the London and New York opens. The results are shown in the table below:

According to my findings, average indices spreads, average-to-high spreads on commodities, and high spreads on currency pairs and cryptocurrencies. Only spreads on share CFDs were competitive during my test.

HYCM Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

Live testing revealed that HYCM’s swaps beat the industry benchmark by a considerable degree. This is especially beneficial for swing and position traders who tend to hold their positions open overnight. However, swap rates tend to change overnight.

HYCM Non-Trading Fees

After 90 calendar days of inactivity, HYCM charges dormant accounts with a fee of 10 units of the account’s base currency. The cost is charged monthly until account activity resumes or the balance drops to zero.

HYCM does not impose a handling fee for deposits or withdrawals, though third-party banking fees may apply.

Are HYCM’s Fees Competitive?

I found that HYCM’s fixed spreads are higher than the industry average, but this is offset by zero trading commissions and minimal non-trading fees. Additionally, swing and position traders may find value in HYCM’s low swap rates, which support longer-term strategies.

Platforms and Tools

HYCM MT4 Desktop

I tested the desktop version of the MetaTrader 4 platform, which has a familiar and user-oriented interface. The charts, orders, and various instruments are located in easy-to-find places, and even first-time traders can quickly learn their way around. My only gripe with the platform is that its charts feel rugged and outdated compared to newer and sleeker trading stations.

HYCM’s MT4 platform is available on Windows and Mac and supports 39 languages, including English, French, Spanish, German, Arabic, Chinese, and more.

The MT4 features include:

• Alerts-Setting Option: Traders can set alerts for when the price of a given instrument falls/rises to a predetermined level, which could potentially signal a viable entry opportunity.
• Watchlist Customization: Traders can populate watchlists with their favorite instruments and track market changes more easily.
• One-click Trading: This feature enables instant market entries at the spot price and is invaluable for high-precision traders.
• Trading from the Chart: Traders can place conventional trading orders directly from the chart, specifying the entry price, volume level, stop and take-profit levels, and more.

In my opinion, MT4 is best suited for automated trading via Expert Advisors (EAs). The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions.

Charts

As shown above, a common issue with MetaTrader is that its charts can quickly become cluttered, even with just two indicators. This can obscure price action examination and make it harder to perform detailed technical analysis.

I have broken down the available analytical tools and chart configurations below:

• 30 technical indicators: Including trend-based and volume-based indicators, and oscillators to analyze price action and assess market sentiment, helping predict market movements.
• 24 drawing tools: Tools like Fibonacci retracement levels and Elliott waves help identify price patterns, support/resistance levels, and breakout points. However, MT4’s design can make price action harder to interpret.
• 9 timeframes: For multi-timeframe analysis, enabling detailed price action analysis.
• 3 chart types: Price action can be displayed as line, bars, or candlesticks, offering diverse perspectives on trading opportunities.

The chart screen is undeniably one of the most crucial features of a trading platform. It equips traders with essential tools and configurations to analyze price action and spot trading opportunities. Just as important is the ability to easily scale price action, allowing for a clearer and more detailed view of market movements.

Orders

MetaTrader 4 features three types of order execution: market, pending, and one-click trading, which supports immediate entries at the spot price.

I have broken down the available order types on the MetaTrader 4 platform below:

• Market Orders: Used for immediate entry at the best available price. They guarantee volume filling, though the entry price may differ from the requested price.
• Limit Orders: Guarantee exact price entries but won’t be filled if the price doesn’t reach the trigger level.
• Stop Orders: They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

MT4 Desktop: My Key Takeaways

MetaTrader 4 is a good option for fast and simple order execution. However, its dated and rugged design is inferior to newer and sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT4’s charting capabilities too rigid and less effective.

HYCM Trader

HYCM’s mobile app is available on iOS and Android, and enables quick and easy access to the market on the go. It is very useful for opening, terminating, and adjusting open positions. It has a pleasant outlook with clear and streamlined charts. The HYCM Trader is also equipped with a news screener and supports one-tap trading.

HYCM Trader: My Key Takeaways

The HYCM Trader is a robust mobile app with multiple applications. It can be used for account management, depositing and withdrawing funds, and trading on the go. Its charts are clear and informative, even though they lack any drawing tools. The app stands out with its one-tap trading functionality and integrated news screener.

HYCM Execution Model

HYCM operates as a market maker without a dealing desk, enabling it to facilitate fast order execution. Client orders are filled internally by the broker who serves as principal. Essentially, HYCM creates liquidity by trading against its clients (selling to buyers and buying from sellers).

Tradable Instruments

Compared to the industry average, HYCM offers an average number of currency pairs and share CFDs and a high number of commodities, indices, and cryptocurrencies.

What Are CFDs?

Contracts for difference (CFDs) are derivatives that speculate on the underlying asset’s price without physical ownership.

For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What CFDs Can You Trade With HYCM?

HYCM Instruments: My Key Takeaways

I appreciated HYCM’s wide selection of tradable and investing solutions. Multiple high-yield/risk assets, such as indices and cryptocurrencies, are available as spot and futures contracts. My only gripe with HYCM’s offering is that it lacks any lower-risk securities, such as ETFs or bonds.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I performed my test on 29 April at around 12:47 CET via live chat. An agent connected within seconds and was very polite throughout the conversation. They responded to my series of questions and provided prompt and exhaustive answers even to the more complex questions.

Deposit and Withdrawal

HYCM Deposits

HYCM Withdrawals

Account Types and Terms

HYCM Account Opening Process

To open an account with HYCM, follow these simple steps:

1. Click ‘Open An Account’ at the top-right corner of the main page.
2. Fill in your name, email address, and phone number.
3. State your country of residence and date of birth.
4. Enter your street name and number, city, and postcode.
5. Choose between a CFD trading account or an investing account.
6. Choose a trading platform, account type, base currency, and maximum leverage.
7. Choose a password and confirm your email address.
8. Upload proof of ID and proof of address to verify your account.

HYCM Account Types

HYCM offers two spread-based accounts with similar trading conditions. The Classic account is enhanced with a wider selection of base currencies and supports the use of Expert Advisors (EAs).

The Raw account is tailored for high-volume traders, featuring spreads from 0.1 pips and a $5 round-turn commission per traded lot (100,000 units)—a rate that outperforms the industry average of $6.

Demo Accounts

HYCM offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself prior to or alongside your live CFD account.

Islamic Accounts

HYCM provides Islamic accounts for swap-free trading that are compatible with Shariah law. To request an Islamic account, please contact HYCM’s customer support.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

Maximum Leverage By Asset Class

In the table below, I have listed the maximum retail leverage available with HYCM for instruments from different asset classes:

HYCM Restricted Countries

HYCM does not accept as clients residents of Afghanistan, Albania, Bahamas, Belgium, Cambodia, Canada, Croatia, Cyprus, France, Ghana, Hong Kong, Iceland, Iraq, Lao PDR, Mongolia, Myanmar, Nicaragua, North Korea, Panama, Philippines, Portugal, Russia, Spain, Sudan, Syria, Turkey, Uganda, USA, Vanuatu, or any other jurisdiction where trading with leveraged products is prohibited by law.

Research

Research Tools

Seasonax allows investors and traders to identify and evaluate seasonal patterns for instruments from different asset classes that are available with HYCM. This is especially beneficial for longer-term traders, such as swing and position traders.

Financial Source is a 24-hour market commentary service that provides actionable insights. Day traders can use it to stay on top of currently developing trading setups.

HYCM Research: My Key Takeaways

HYCM delivers high-quality market research content through reputable third-party providers such as Seasonax and Financial Source. These materials are well-suited for swing, position, and day traders, offering sophisticated insights and analysis.

However, HYCM could strengthen its research offering by producing original in-house content. The broker previously published daily market reviews on its YouTube channel, but this practice ended over a year ago. Additionally, it’s surprising that HYCM does not offer an economic calendar—a basic yet essential research tool for most traders.

Education

I counted over 300 past webinars and 100 guest speaking and media interview videos, published on HYCM’s YouTube channel. The materials cover into technical analysis, fundamental analysis, and trading psychology, and offer traders of all experience levels a comprehensive overview of essential trading concepts.

First-time traders can also refer to HYCM’s blog with over 20 articles that cover basic trading topics, such as ‘What is leverage in forex trading’ or ‘What is a pip in forex trading’.

The Bottom Line

Founded in 1977 and headquartered in London, HYCM is a well-established broker offering over 1,250 tradable and investment products. It is regulated by the FCA in the UK and the DFSA in the UAE, and is also incorporated in St. Vincent and the Grenadines.

HYCM supports MT4, MT5, and its own HYCM Trader app for mobile trading and account management. The broker’s standout strength lies in its focus on the needs of swing and position traders—highlighted by low swap rates and comprehensive market research, particularly its insights into seasonal price patterns.

On the downside, spreads could be more competitive, and copy trading is not supported, which may be a drawback for some traders.

Overall, I consider HYCM a solid choice for first-time traders and swing or position traders of all experience levels, thanks to its long-standing reputation, low swaps, and strong research tools.

FAQ