HYCM Review 2026
HYCM is a London broker with real FCA and DFSA licences. It dropped its Cyprus licence in 2024, and Trustpilot reviewers often report frozen withdrawals.
Min Deposit
$100
Spreads From
0.2 pips
Max Leverage
1:30
Platforms
3
Pros
- Holds a real FCA licence in the UK, active since 2001
- Also regulated by the DFSA for its Dubai trading entity
- Offers both MetaTrader 4 and MetaTrader 5 for trading
- Long track record that traces back to 1977 in Hong Kong
- Won Best Mobile Trading Platform at the 2020 Global Forex Awards
Cons
- Gave up its Cyprus CySEC licence in 2024, so it answers to fewer regulators
- No longer lists a Cayman Islands CIMA licence that many review sites still cite
- Flagged by Malaysia's Securities Commission for unlicensed activity there
- Fixed account spreads start from 1.5 pips and Classic from 1.2 pips, not cheap
- Trustpilot reviewers often report frozen withdrawals tied to swap abuse claims
- No cTrader option, only MetaTrader 4, MetaTrader 5, and its own mobile app
- Most clients sign up with a Costa Rica company that has no financial regulator
- Renounced its only EU licence in 2024 but still does not block most EU countries
HYCM began in 1977 as a Hong Kong gold trading firm called Henyep Group. Its London arm launched an online forex platform in 2007 and changed its name a few times before it became HYCM Capital Markets (UK) Limited in 2022. The brand now markets itself worldwide from London and Dubai.
HYCM holds a real FCA licence in the UK and a DFSA licence in Dubai. It gave up its Cyprus CySEC licence in 2024, so it has fewer regulators now, and some sites still wrongly list an old Cayman licence. Classic spreads start from 1.2 pips and Fixed from 1.5 pips, while the Raw account cuts this to near 0.1 pips plus a commission. Trading runs on MetaTrader 4 and MetaTrader 5, with no cTrader.
On Trustpilot, HYCM sits close to 3.5 out of 5 from around 192 reviews, though other sites rate it lower. Malaysia's Securities Commission has flagged HYCM for unlicensed activity there. A recurring 1 star complaint is that HYCM freezes a withdrawal or profit and blames swap abuse when a client tries to cash out.
Min. Deposit
USD 20
Max Leverage
1:30 for FCA UK retail clients, up to 1:500 (dynamic) via the unregulated Costa Rica entity
Spreads From
0.1 pips on the Raw account
Platforms
HYCM is one of the most established forex and CFD brokers, with a trading history going back to 1977 under the Henyep Group. The broker is regulated by the FCA in the UK and CySEC in Cyprus, providing strong regulatory protection to clients across Europe, the Middle East, and Asia.
With over 300 instruments across forex, equities, indices, commodities, and cryptocurrencies, HYCM offers a solid product range for the everyday retail trader. The broker supports MetaTrader 4 and MetaTrader 5 across all account types, along with a proprietary mobile application.
HYCM's Fixed, Classic, and Raw account types allow traders to choose between fixed spreads, floating spreads, or ECN-style raw pricing. The broker is particularly noted for its educational offering including market analysis, webinars, and an economic calendar, and for its long-standing reputation in the UK market.
Fixed
Classic
Raw
40+ currency pairs available for trading
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
Regulators
Platforms
- FCA (UK)
- CySEC (Cyprus)
- DFSA (Dubai)
- CIMA (Cayman Islands)
