HYCM Review 2026
Regulated broker with real licence numbers.
HYCM is a regulated CFD broker founded in 1977. It holds a FCA licence under number 186171.
The basics
HYCM was founded in 1977 and is headquartered in London, UK. It is privately owned. The broker offers CFDs on 300 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 1977 |
| Headquarters | London, UK |
| Instruments | 300+ |
| Platforms | MT4, MT5 |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is HYCM safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
| Regulator | Licence | Entity |
|---|---|---|
| FCA | 186171 ✓ | Henyep Capital Markets (UK) Ltd |
| CySEC | 259/14 ✓ | Henyep Capital Markets (Europe) Ltd |
| DFSA | F000048 ✓ | Henyep Capital Markets International |
You can verify the FCA licence at register.fca.org.uk. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
HYCM spreads
These are the typical spreads on HYCM's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 0.2 pips pips |
| GBP/USD | 0.5 pips pips |
| USD/JPY | 0.3 pips pips |
| Gold (XAU/USD) | 17c/oz |
| S&P 500 | 0.4pt |
HYCM's EUR/USD spread of 0.2 pips pips is among the tightest available, competitive with ECN brokers.
HYCM withdrawal fee and processing time
Fee: None. HYCM does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: 1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
HYCM minimum deposit by entity
The minimum deposit depends on which HYCM entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| Henyep Capital Markets (UK) Ltd | FCA 186171 | $100 | 1:30 |
| Henyep Capital Markets (Europe) Ltd | CySEC 259/14 | $100 | 1:30 |
| Henyep Capital Markets International | DFSA F000048 | $100 | 1:400 |
HYCM vs eToro
| HYCM | eToro | |
|---|---|---|
| Primary regulator | FCA 186171 | FCA 583263 |
| Min deposit | $100 | $50 |
| EUR/USD spread | 0.2 pips pips | 1.0 pips |
| MetaTrader | Yes | No |
| Instruments | 300+ | 3,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | $5 per withdrawal |
Both brokers are regulated and legitimate. HYCM suits traders who value MetaTrader and algorithmic trading. eToro is better for traders who prioritise its specific regulated entity coverage.
Regulation — the numbers that matter
| FCA | 186171 — Henyep Capital Markets (UK) Ltd |
| CySEC | 259/14 — Henyep Capital Markets (Europe) Ltd |
| DFSA | F000048 — Henyep Capital Markets International |
Leverage for retail clients in the EU and UK is capped at 1:30 on major forex pairs under ESMA rules.
Pros and Cons
What works
- FCA regulated — Henyep Capital Markets (UK) Ltd
- MetaTrader 4 and 5 available
- No inactivity fee
- Tight EUR/USD spread from 0.2 pips
- Regulated in 3 jurisdictions
What does not work
- No copy trading
- No real stock ownership — CFDs only
The verdict
HYCM is a legitimate, regulated broker. The FCA licence number 186171 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to HYCM
If HYCM does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is HYCM safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent. HYCM holds FCA licence 186171, which is publicly verifiable on the official register.
What is the HYCM minimum deposit?
The minimum deposit is $100. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the HYCM EUR/USD spread?
The EUR/USD spread on HYCM standard accounts is typically 0.2 pips pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does HYCM take to process withdrawals?
1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Does HYCM charge withdrawal fees?
None. HYCM does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does HYCM have MetaTrader?
Yes. HYCM supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.