The HYCM brand is part of the Henyep Capital Markets Holdings Group and has offices in the UK, Hong Kong, Kuwait, the Cayman Islands, Dubai, and Cyprus. The following companies operate under the HYCM name:

  • HYCM Ltd, licensed by the Cayman Islands Monetary Authority (CIMA),
  • Henyep Capital Markets (UK) Limited, regulated by the Financial Conduct Authority (FCA),
  • HYCM (Europe) Ltd is authorized by the Cyprus Securities and Exchange Commission (CySEC).
  • Henyep Capital Markets (DIFC) Limited, authorized by the Dubai Financial Services Authority (DFSA)

The company provides its services to traders in more than 140 countries, including Malaysia, Singapore, India, Indonesia, Kuwait, and Australia. This broker does not accept clients from the US or Canada. The official website is available in 14 languages, including Farsi.

trading platform

Potential traders need to register on the HYCM website to obtain login credentials and then log in to the client portal to access the financial markets.

MetaTrader 4

All affiliates offer MetaTrader 4 (MT4), an industry-leading platform suitable for investors of all experience levels. MT4 is available as a software download and comes with a wide range of useful features.

  • One-click trading directly from the chart
  • Interactive charts with 30 technical indicators and nine timeframes
  • Three execution modes, two types of market orders, and four pending orders
  • Keeping track of all orders and open positions in the terminal interface

HYCM also partnered with Trading Central to provide financial analytics on the MT4 platform. Clients can install Trading Central indicators to track market movements and inform their execution strategy.

MetaTrader 5

Clients can also choose to use MetaTrader 5 (MT5), an update to the MT4 platform with powerful technical analysis and additional functionality.

  • Two modes of order accounting
  • Three types of charts to suit your preferences are
  • Six types of pending orders and 21 timeframes
  • There are more than 80 technical indicators and graphic objects.

Users can also refine their execution strategies in MT4 and MT5 with the help of Expert Advisors (EAS). This technology allows automated trading 24/5 without third-party intermediaries and is easy to install.

Clients should be aware that scalping is not allowed with this broker.

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Web trader

Both MT4 and MT5 are available on WebTrader. This browser-based solution allows clients to trade on the platform without downloading software and is compatible with all operating systems.

Markets and assets

HYCM offers several asset classes:

  • Indices (28 global indices)
  • Forex: more than 40 currency pairs
  • Shares of 11 large companies
  • Commodities-14, including gold and oil
  • ETFs – The most popular ETFs are SPDR, S&P 500, iShares Russell 2000 Index, and VelocityShares 3x Inverse Crude Oil ETN.

Potential clients should be aware that some currency pairs are only available on the MT5 platform and that the NASDAQ index is not provided. Cryptocurrencies are also not offered, except BTC/USD CFDs.

Spreads and Commissions

Spreads vary by account type and are generally competitive. For example, EUR/USD is offered at rates of 1.5, 1.2, and 0.1 pips on fixed, classic, and raw accounts, respectively. Raw accounts have a $4 commission per round on forex and some commodities. In our review of the brokers, we were pleased to see that the commissions are in line with industry standards.

Islamic accounts without swaps do not accrue overnight interest during the first 14 days of opening a position. Thereafter, each contract is charged $5 per night. HYCM also charges a $10 monthly inactivity fee on accounts that have been inactive for 90 days.

Mobile app

HYCM does not offer a proprietary app, but both MT4 and MT5 are available as mobile apps. These full-featured apps for iPhone and Android are free to download and come with useful features:

  • Interactive quote charts:
  • A complete set of trading orders
  • Order History Monitoring
  • Push notification and chat function

Deposits and withdrawals

Traders can start investing with a minimum initial deposit of $100 ($20 on regular deposits), and payments are commission-free. The broker accepts deposits by bank transfer (processing 1–7 days, minimum 250 USD), as well as Visa, Neteller, and Skrill (processing up to 1 hour, minimum 20 USD). This broker does not accept PayPal.

The withdrawal process offers the same payment methods and processing times, except bank transfer, which has a minimum of $300 and takes 1–5 days. Please note that Skrill or Neteller charges a 1% withdrawal fee for withdrawals over $5,000.

Demo account

HYCM offers a demo account funded with $50,000 in virtual money that remains active for 14 days. It uses the MT4 platform and can be opened in USD or EUR. It is also easy to switch to a real money account after the expiration date.

Regulation and licensing

The brand is strictly regulated by four financial authorities: the Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA), the Cayman Islands Monetary Authority (CIMA), and the Cyprus Securities and Exchange Commission (CySEC). Clients of this broker enjoy negative balance protection, so losses cannot exceed the initial deposit.

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Account Types

Traders can open one of three live accounts in MT4 or MT5:

  • Spreads start at 1.5 pips, with a minimum deposit of $100.
  • Classic: variable spreads from 1.2 points. The minimum deposit is $100.
  • Raw-Spreads from 0.2 pips plus $4 commission each way, $200 minimum deposit.

Expert Advisors and Islamic options are available for all account types and the minimum trading volume is 0.01. HYCM does not currently offer an ECN account solution.

Customer Service

Customers can quickly access support through the website, live chat, or through:

  • @henyep on Telegram
  • +442088167812 is the contact phone number.

Support staff are quick to respond to inquiries and are knowledgeable about the products and platforms on offer. The broker is also active on Facebook and LinkedIn.

In countries in which HYCM works and does not work,

HYCM accepts traders from Australia, Thailand, the United Kingdom, South Africa, Singapore, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Merchants cannot use HYCM from Afghanistan, Albania, Bahamas, Barbados, Belgium, Botswana, Cambodia, Canada, France, Ghana, Hong Kong, Iraq, Jamaica, Japan, Laos, Mauritius, Myanmar, Nicaragua, Sudan, Syria, Turkey, Uganda, USA, Vanuatu, Yemen, Zimbabwe.


HYCM is multi-regulated forex and CFD broker offering MT4 and MT5 integration, competitive spreads, and a deposit bonus scheme. This broker has account types suitable for a wide range of clients, as well as simple deposits and withdrawals for easy trading.