HYCM Review 2026

The basic trading model

HYCM is a market maker offering leveraged trading. Forex is leveraged FX trading; indices and commodities are accessed through derivatives, and stock positions are CFDs rather than ownership of the underlying shares. Cryptocurrency positions track price movements without physically purchasing the coins.

Customers choose a Fixed, Classic or Raw account and trade through HYCM Trader, MT4 or MT5. The Fixed account uses fixed spreads and does not permit Expert Advisors. Classic and Raw accounts use floating spreads, and automated trading is permitted on those account types.

Important regional differences

HYCM's maximum leverage depends on both the asset and the legal entity serving the account. The stated ceilings are 1:500 for forex, 1:200 for indices, 1:133 for commodities, 1:20 for stocks and ETFs, and 1:5 for cryptocurrencies. FCA and DFSA regulation are identified for the UK and United Arab Emirates, respectively; protections and account terms should be checked for the entity that onboards the client.

Trading costs

Fixed and Classic accounts do not charge commission, with costs incorporated into the spread. The Raw account starts from 0.1 pip and charges $4 per round-turn lot for forex. These starting spreads are not the same as the average spread figures below.

The averages are useful reference points, but actual floating spreads can change with market conditions. HYCM gives no equivalent average-spread figure here for every market, so the table should not be treated as a complete cost schedule.

Non-trading costs

HYCM charges $10 per month after 90 consecutive days without trading or deposits. Standard leveraged positions held past the daily cut-off can incur or earn overnight swaps. Swap-free accounts have no overnight interest for the first 14 days; after that, a $5 administrative storage fee applies per full contract per night.

Currency conversion fees apply when deposits or trades involve a currency different from the account's base currency. HYCM generally does not charge a withdrawal fee, but bank-wire withdrawals below $300 typically incur a $30 handling fee. Withdrawals above $5,000 to Skrill or Neteller are subject to a 1% processing fee. Banks and payment providers may also charge their own fees.

Cost takeaway

The Fixed and Classic accounts avoid commission, but their spread-based costs should be compared with the Raw account's tighter spread plus commission. The Raw structure may be more relevant to frequent forex traders who prioritize narrow entry spreads; inactivity, conversion and withdrawal charges matter to clients who trade infrequently or move smaller sums.

Account options

The central choice is between predictable, commission-free pricing and narrower floating spreads with commission. The Fixed account rules out Expert Advisors, while Classic and Raw accounts allow automated trading; traders should also compare the spread and commission structure against their expected trading frequency.

Platform choices

Base currency and account configuration

Account base currencies include USD, EUR, GBP, AED and JPY. Currency conversion fees can apply when funding or trading in a currency different from the account base currency, so matching the account currency to the currencies used for funding and trading can reduce conversion costs.

A demo account is available. Islamic swap-free status can be applied to Fixed, Classic and Raw live accounts; positions are swap-free for the first 14 days, after which a $5 fee per full contract per night applies.

HYCM offers leveraged products across five market categories. The product structure matters: stock CFDs do not confer ownership of shares, and cryptocurrency positions track price movements without purchasing the coins.

Order execution

HYCM is a market maker. During market gaps or rapid price moves, execution can differ from the requested price in either direction. This means slippage may be positive or negative; no execution-speed figure is specified here.

Leverage, margin and stop-out

Maximum leverage is instrument-dependent: up to 1:500 on forex, 1:200 on indices, 1:133 on commodities, 1:20 on stocks and ETFs, and 1:5 on cryptocurrencies. The applicable ceiling also depends on the regulatory jurisdiction serving the account. HYCM sets the margin-call level at 100% and the stop-out level at 50%; its risk-management system automatically closes open positions when the margin level falls to 50%.

Trading restrictions

HYCM allows legitimate scalping but prohibits abusive strategies such as latency arbitrage or methods designed to exploit delayed processing or manipulate market liquidity. Hedging is permitted within the same account, but hedging across multiple accounts is generally prohibited.

Expert Advisors are permitted on Variable Spread and Raw Spread accounts and disabled on Fixed Spread accounts. HYCM supports algorithmic trading through MT4 and MT5 rather than a direct dedicated API, and it does not provide free or sponsored VPS hosting. News trading is allowed, although variable spreads can widen and rapid moves can cause slippage or requotes. EAs for automated news trading are supported on Classic and Raw accounts, not Fixed.

Day-to-day usability

MT4 and MT5 offer desktop, web and mobile access; full EA development and testing are desktop-centric. HYCM Trader is a proprietary mobile app for opening positions, monitoring charts and managing accounts, but it does not provide a user-programmable algorithmic engine.

1. Eligibility

HYCM restricts residents of Afghanistan, Albania, Barbados, Belarus, Belgium, Burkina Faso, Cambodia, Canada, the Cayman Islands, Cyprus, the Democratic Republic of Congo, France, Gibraltar, Haiti, Hong Kong, Iraq, Jamaica, Lebanon, Mali, Mozambique, Myanmar, North Korea, Panama, the Philippines, Portugal, Russia, Senegal, South Sudan, Spain, Sudan, Syria, Tanzania, Uganda and the United States.

2. Registration

Opening an account starts with basic contact details. Traders select an account type and platform, with the minimum deposit and account conditions varying by region and tier.

3. Verification

HYCM requires identity and residence verification. Provide a clear, colour copy of a government-issued photo ID and a utility bill, bank statement or official government letter dated within the last 3–6 months. HYCM gives new clients a typical seven-day window after account creation to submit the documents; account features may remain restricted until verification is approved.

4. Initial funding

The minimum deposit is $20 for each of the three main account types, although the initial requirement can rise to $100 for Fixed or Classic accounts and $200 for Raw accounts depending on location and tier. Funding methods and processing times vary.

5. Getting ready to trade

Choose the relevant trading platform and, if using automated strategies, select Classic or Raw rather than Fixed. A demo account is also available for platform familiarization.

Deposits

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Mastercard	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant
Visa	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant
Skrill	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant
Interac	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant
Union Pay	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant
Wire Transfer	$20	Not publicly specified, check broker Client Portal/payment provider	1–7 business days	1–7 business days
Neteller	$20	Not publicly specified, check broker Client Portal/payment provider	Instant	Instant

HYCM does not charge internal deposit fees for most major methods, but payment providers or intermediaries may charge independently. Currency conversion fees can also apply if the funding currency differs from the account's base currency.

Withdrawals

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Mastercard	$20	$0 broker fee, bank/provider charges may apply	Up to about 1 hour broker-side	Up to about 1 hour broker-side
Visa	$20	$0 broker fee, bank/provider charges may apply	Up to about 1 hour broker-side	Up to about 1 hour broker-side
Wire Transfer	$20	$0 broker fee, bank/provider charges may apply	About 1–7 working days	About 1–7 working days
Skrill	$20	$0 broker fee, bank/provider charges may apply	Usually within 24 hours	Usually within 24 hours
Neteller	$20	$0 broker fee, bank/provider charges may apply	Usually within 24 hours	Usually within 24 hours

Broker-side processing is not necessarily the same as the time for the funds to reach a bank or payment-provider account. Card withdrawals can take longer to settle with the issuer, while bank wires may take about 1–7 working days. Check the payment provider's timing as well as HYCM's processing estimate.

Availability

HYCM provides support 24 hours a day, five days a week through live chat, email, phone and Telegram.

How traders can get help

For account or funding questions, clients can contact support by email at [email protected] or by phone at +44 20 3996 4943. Support languages include English, Spanish, French, German, Italian, Swedish, Czech, Polish, Russian, Arabic, Persian, Chinese, Japanese, Vietnamese, Hindi and Urdu.

Support limitations

Customer feedback points to quick responses and practical guidance as strengths, but also reports difficulties with deposit or funding support and inconsistent account-manager support. This makes help less predictable for complex or urgent account issues.

HYCM operates under FCA and DFSA regulation, with regulatory jurisdictions identified as the United Kingdom and the United Arab Emirates. The protections that apply depend on the entity holding the client's account; UK protections should not be assumed to cover clients onboarded elsewhere.

Legal entities and regulators

Client money protections

HYCM segregates retail client funds from its operational capital and says the funds are held in separate trust accounts at Tier-1 banks. Negative balance protection is offered, so a client should not lose more than the funds deposited. For UK accounts held with HYCM Capital Markets (UK) Limited, eligible deposits are protected by the FSCS up to £85,000.

HYCM says its risk-management system closes positions when the margin level reaches 50%. Negative balance protection and segregated funds do not prevent losses caused by trading, and compensation-scheme eligibility depends on the account entity and client circumstances.

Company transparency

HYCM was founded in 1977 and is not publicly traded. Its listed offices include the United Kingdom, United Arab Emirates, Kuwait and Hong Kong.

Important distinction

Segregation, negative balance protection and compensation arrangements concern client funds or liabilities under specific conditions; they do not protect a trading position from market losses.

What the headline claim suggests

A Raw spread starting from 0.1 pip can appear to be the lowest-cost choice, while a Fixed account can appear simpler because it has no commission and fixed spreads.

What happens in practice

These are different pricing arrangements, not directly comparable figures. The Raw account adds a $4 round-turn commission on forex, while the Fixed account starts from 1.5 pips and does not permit Expert Advisors. The Classic account also has no commission but uses floating spreads from 1.2 pips. Average spreads such as 1.28 pips on EUR/USD are a separate reference from the advertised starting spreads.

Who should care most

Traders who use automated strategies, trade frequently or compare headline spreads should check both the account rules and the complete cost structure. Infrequent traders should also account for the $10 monthly inactivity fee after 90 days without trading or deposits.

Practical example

A trader choosing Raw for its 0.1-pip starting spread still pays $4 per round-turn forex lot. A trader choosing Fixed avoids that commission but starts with a 1.5-pip fixed spread and cannot use Expert Advisors on that account.

Consider HYCM if you...

• want to choose between fixed, commission-free variable and raw-spread pricing;
• use MT4 or MT5 and want to run Expert Advisors on a Classic or Raw account;
• need access to forex, stock CFDs, indices, commodities and cryptocurrency price exposure through one broker.

You may want to look elsewhere if you...

• require a native copy-trading or social-trading network;
• want a proprietary desktop trading platform rather than MetaTrader;
• need Expert Advisors on a fixed-spread account or free VPS hosting from the broker.

HYCM's strongest proposition is the choice between fixed, variable and raw-spread accounts, supported by MT4 and MT5. Its biggest compromise is that the account structure imposes meaningful trade-offs: fixed pricing excludes Expert Advisors, while raw pricing adds commission and floating spreads. Traders comfortable choosing an account around those conditions are the most likely to accept the compromise.

This review assesses HYCM's regulation and client protections, account terms, spreads and commissions, funding conditions, tradable markets, platform capabilities and customer-support feedback. Regulatory records and structured broker specifications are treated separately from broker claims and user-reported experiences; no personal platform testing is claimed here. For more detail on how brokers are assessed, see our review methodology.