HYCM is a forex and CFD broker linked to the Henyep group, which has a long history in financial services. Its structure has changed in recent years, including leaving the EU in 2024 and a management buyout. Here is an overview.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.
HYCM at a glance
| UK entity | HYCM Capital Markets (UK) Ltd, FCA (FRN 186171) |
| Dubai entity | HYCM Capital Markets (DIFC) Ltd, DFSA |
| International clients | HYCM Capital Markets S.R.L., Costa Rica (no broker regulator named) |
| EU | CySEC authorisation withdrawn in June 2024 after voluntary renunciation |
| Platforms | MT4, MT5, HYCM Trader app |
Regulation and safety
HYCM’s main entities are:
- HYCM Capital Markets (UK) Ltd: authorised by the FCA (FRN 186171).
- HYCM Capital Markets (DIFC) Ltd: regulated by the DFSA in Dubai.
- HYCM Capital Markets S.R.L.: a company registered in Costa Rica, shown to many international visitors; no financial regulator is named for it.
- HYCM’s former EU entity renounced its CySEC licence and stopped onboarding EU clients in 2024.
Licence details above are as stated by HYCM. Always check the firm and website on the regulator’s official register before you open an account, and confirm which entity your account will be held with. Regulation does not protect you against trading losses. See our guide: How to check if a broker is legitimate.
Products and platforms
- CFDs on forex, stocks, indices, crypto and commodities (around 300 instruments).
- Platforms: MetaTrader 4, MetaTrader 5 and the HYCM Trader app.
Accounts and fees
- Fixed: fixed spreads from 1.5 pips, no commission, $20 minimum deposit, no Expert Advisors.
- Classic: variable spreads from 1.2 pips, no commission.
- Raw: spreads from 0.1 pips plus commission ($4 round turn on forex).
- HYCM notes that spreads widen overnight (8pm to 6am GMT).
Fees, spreads and minimum deposits vary by region and account type and can change at any time. Check HYCM’s current pricing pages for your country before trading.
Leverage
UK retail clients are limited to 30:1 on major pairs. HYCM’s international site advertises up to 1:500. Higher leverage increases both potential gains and losses. Read Can you lose more than you invest in forex?.
Things to be aware of
- Many international clients appear to be served through a Costa Rica company without a named financial regulator.
- HYCM left the EU in 2024.
- The UK entity reported a small loss for its 2025 financial year, according to trade press.
- Beware of clone websites using names similar to the Henyep group.
Pros and cons
Pros
- FCA and DFSA-regulated entities
- Low minimum deposit
- Fixed-spread account option
Cons
- International clients may be with an unregulated company
- No longer serving the EU
- Standard spreads are fairly wide
Who might consider HYCM?
HYCM may suit UK traders who can use its FCA-authorised entity. Clients elsewhere should check carefully which company they would contract with.
Summary
HYCM has FCA and DFSA-regulated entities, but many international clients appear to be served through a Costa Rica company. Confirm your entity and its protections before opening an account.
Information in this review was checked against HYCM’s published information and public regulatory records in November 2026. Details change, so always confirm the current terms on the broker’s own website and the regulator’s register.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.