By Stéphane on 04/11/2023

TrustedBrokers Score

4.2 / 5

HYCM is available in Brunei

85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets
    5.0 / 5
  • Trading environment
    3.8 / 5
  • Deposits and withdrawals
    4.4 / 5
  • Investor protection
    3.8 / 5
  • Customer service
    4.0 / 5
Our take on HYCM

HYCM, formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.

HYCM is an established broker, in business since 1999. It also is a safe place to trade as it's overseen by regulators in the EU, the UK, the UAE and abroad.

Trade CFDs on a wide range of markets through its Classic and Raw accounts. You may also buy and hold over 1,000 "real" stocks, without leverage, and earn dividends.

Every client receives complimentary trading signals from Trading Central. Trading Central uses technical analysis to identify potential opportunities on a daily basis. Their signals could spark new ideas, or reinforce your existing convictions.

Overall, we have found HYCM to provide a reliable trading environment. However, its trading fees are a little higher than the competition, unless you open a Raw account.

  • Likes
  • Trade CFDs or invest in over 1,000 "real" stocks.
  • Trade on MetaTrader 4 or MetaTrader 5.
  • Get free signals from Trading Central.
  • Account currencies include USD, EUR, GBP, CAD and AED.
  • Dislikes
  • Trading fees on its Fixed and Classic accounts are a little high.
  • Monthly inactivity fee after 90 days.
  • Copy trading isn't possible.

Easily navigate this review:

5.0 / 5

With HYCM, you can trade CFDs on 300 instruments, across 6 asset classes, as well as "real" stocks. These include:

  • Forex: CFDs across 69 currency pairs (Majors and Minors).
  • Stocks: CFDs across 149 American and European stocks, or invest in over 1,000 stocks without commission.
  • Indices: CFDs across 28 global indices, spanning the American, European and Asian stock markets, and market segments (such as small, mid and large caps).
  • ETFs: CFDs on 19 ETFs, which span industry groups (i.e. Tech, industrials) and geographies (e.g. emerging markets).
  • Crypto-currencies: CFDs across 19 crypto-currencies and blockchain networks, including BTC, ETH, LTC and ADA.
  • Commodities: CFDs on the price of precious and industrial metals, agricultural commodities and energies.

* Availability is subject to local laws and regulations.

  • Asset classes (#)
  • Forex (CFD)69
  • Cryptos (CFD)*19
  • Stocks (CFD)149
  • Stocks1080
  • Indices (CFD)28
  • ETFs (CFD)19
  • Metals (CFD)9
  • Energy (CFD)3
  • Commodities (CFD)4
3.8 / 5
Trading environment

HYCM supports both MetaTrader 4 and 5, two of the world's leading trading platforms for retail investors. If you're looking to trade the widest possible range of instruments, we recommend MetaTrader 5. HYCM's MetaTrader 5 platform supports 300 instruments, versus 90 for its MetaTrader 4 platform. HYCM accepts all Expert Advisors, except scalping and high-frequency trading bots.

All accounts are available interest-free (also known as swap-free) for Muslim investors. You can keep your positions open for up to 14 days without incurring overnight charges. Beyond that period, HYCM will charge a flat $5 per instrument. To open an account in Islamic format, open an account online at HYCM.com and speak to your account manager before you trade.

Leverage is capped at 1:30 for clients that reside either in the UK or the EU. Clients who reside in the rest of the world are eligible for leverage up to 1:500.

  • Platforms
  • MT4
  • MT5
  • cTrader
  • Currenex
  • Copy trading
  • Operating systems
  • Web trading
  • Android
  • iOS
4.4 / 5
Deposits and withdrawals

HYCM accepts a wide range of payment methods including credit and debit cards, Neteller, Skrill and Webmoney.

HYCM accepts the following currencies for your account's base currency: AED, CAD, EUR, GBP, RUB and USD.

The choice of payment methods depends on the company that you open an account with, and your country of residence. Please visit the company's website for a list of all payment methods.

* Availability is subject to local laws and regulations.

  • Deposits and withdrawals (Fiat)
  • Bank transfer
  • Credit card
  • Debit card
  • Skrill *
  • WebMoney
  • 2c2p
  • Account base currencies
  • AED
  • EUR
  • GBP
  • USD
3.8 / 5
Investor protection

HYCM operates through companies regulated in the UK, the European Union, the United Arab Emirates and the Cayman Islands. If you open an account with its UK or European companies, you may be covered by an investor compensation fund.

  • Henyep Capital Markets (UK) Limited: authorized and regulated by the Financial Conduct Authority with reference number 186171. Payments under the UK's Financial Services Compensation Scheme are capped £50,000 per customer.
  • HYCM (Europe) Ltd: authorised and regulated by the Cyprus Securities and Exchange Commission under license number 259/14. Payments under CySEC's Investor Compensation Fund (ICF) are capped at €20,000 per customer.
  • HYCM Ltd : regulated by the Cayman Islands Monetary Authority (CIMA), with reference number 1442313. No investor compensation scheme is available if you register with this entity.
  • HYCM (DIFC): incorporated in the United Arab Emirates and regulated by the Dubai Financial Services Authority (DFSA). No investor compensation scheme is available if you register with this entity.

Our License Checker verifies the validity of EU, UK and UAE broker licenses in near real-time.

4.0 / 5
Customer service
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About the author

I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.