By Stefan on 13/09/2023
HYCM (HYCM.com), formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.
- Trade on MetaTrader 4 or MetaTrader 5.
- Account base currencies: USD, EUR, GBP, CAD, AED, RUB.
- Negative balance protection for all customers.
- Regulated by FCA, CySEC, DFSA and CIMA.
- You cannot buy shares or cryptocurrency (only CFDs).
- Scalping is not allowed.
- No copy trading platform.
- Monthly inactivity fee after 90 days.
- Best Forex Broker UAE 2022
- Best Forex Broker Middle East 2021
- Best Forex Broker Europe 2018
With HYCM, you can trade CFDs on 300 instruments, across 6 asset classes. These include:
- Forex: CFDs acrosss 69 currency pairs (Majors and Minors).
- Stocks: CFDs across 149 American and European stocks (with no coverage of meme stocks).
- 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.
- Asset classes
- Forex (CFD)
- Cryptos (CFD)*
- Stocks (CFD)
- Indices (CFD)
- ETFs (CFD)
- Metals (CFD)
- Energy (CFD)
- Commodities (CFD)
* Availability subject to regulation.
- Asset classes (#)
- Forex (CFD)69
- Cryptos (CFD)*19
- Stocks (CFD)149
- Indices (CFD)28
- ETFs (CFD)19
- Metals (CFD)9
- Energy (CFD)3
- Commodities (CFD)4
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 can enjoy flexible leverage up to 1:500.
- Copy trading
- Mirror trading
- Operating systems
- Web trading
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.
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.
- Deposits and withdrawals (Fiat)
- Bank transfer
- Credit card
- Debit card
- NETELLER *
- Skrill *
* Availability subject to regulation.
- Deposits and withdrawals (Crypto)
- Account base currencies
- AED - UAE Dirham
- EUR - Euro
- GBP - British Pound
- USD - U.S. Dollar
Our License Checker verifies the validity of EU, UK and UAE broker licenses in near real-time.
HYCM accepts investors from a wide range of countries, with notable exceptions. For example, HYCM cannot accept clients who live in the USA, Hong Kong or Canada. Please visit HYCM's website for the full list of countries.
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 limited to a maximum of £50,000 per customer.
- HYCM (Europe) Ltd: authorized 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.
- HYCM (DIFC): incorporated in the United Arab Emirates and regulated by the Dubai Financial Services Authority (DFSA).
A short history of HYCM
HYCM (HYCM.com) is a division of The Henyep Group, an international corporation with over 40 years of operational history. The group's roots lie in Hong Kong, where Henyep Gold Dealers founded as a member of the Hong Kong Gold and Silver Exchange Society in 1977. The following year, Henyep Securities founded as a member of the Hong Kong Commodities Exchange.
Since, the group has expanded across four continents. It opened its first branch in New York in 1980, was granted a license by the UK's financial regulator in 1998, established a presence in Dubai in 2006 and acquired its current CySEC license through an external acquisition in 2015.
Over the years, HY Markets has received a string of awards including "Best FX Broker, Northern Europe" by the World Finance 2012 Awards and "Best Forex Brokers in the Middle East" by the IB Times Trading Awards 2011.
In 2016, Henyep consolidated its investment brands under HYCM.com, a multi-platform online trading service.
- Regulated entities
- Cayman IslandsHYCM Ltd (No. 1442313)
- Cyprus (EU)HYCM (Europe) Ltd (CySEC No. 259/14)
- Saint Vincent and the GrenadinesHYCM Limited (No. 25228)
- UAEHYCM Capital Markets (DIFC) Limited (DFSA No. F000048)
- UKHYCM Capital Markets (UK) (FCA No. 186171)
Are you looking for an alternative to HYCM? See how HYCM compares against each of the following brokers.