HYCM review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of HYCM, scored 5.7 out of 10 across regulation, fees, platform, support and reviews. Our previous score for HYCM was 6.1 out of 10; this review restates it lower, and the evidence below explains why.

HYCM operates through more than one legal entity. HYCM’s own regulation page names HYCM Capital Markets (UK) Limited as its FCA-regulated entity and HYCM Capital Markets (DIFC) Limited as its DFSA-regulated entity, with a third entity, HYCM Capital Markets S.R.L. in Costa Rica, listed under “Other Incorporated Entities” and not shown as regulated. When we checked the DFSA register directly, DFSA reference F000048 came back held by an entity named HYCM Limited, not “HYCM Capital Markets (DIFC) Limited” as HYCM’s own page names it. We searched the FCA register too, and FRN 186171 does check out: it is held by HYCM Capital Markets (UK) Limited, status Authorised, effective 1 December 2001, and that entity’s Companies House number, 02878581, also checks out on the UK company registry as an active private limited company incorporated 8 December 1993.

Two other licences that an earlier review attached to HYCM could not be confirmed here. A CIMA licence numbered 1442313 does not appear on HYCM’s own fetched Regulation & Licenses page at all, and the current Cayman Islands Monetary Authority list we searched shows no “HYCM” entry, though that list only runs to 31 December 2025 and covers Securities Investment Business licensees, not every CIMA category. A CySEC licence that the earlier review said was renounced in June 2024 is also absent from HYCM’s own pages, and CySEC’s current register of Cypriot investment firms, which we read on 30 September 2026, lists no HYCM company, which fits that renunciation.

Where the HYCM name gets misused

We searched 1,441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and HYCM appears on none of them. Four other domains built around the HYCM name do appear on those same lists, and none of them is HYCM: CySEC’s List of Non-Approved Domains names hycmbot.com and hycmcapitalmarkets.com as unauthorised to provide investment services under any Cypriot licence, without saying which firm they imitate. The FCA register separately lists hycmarket.com and hycmarkets.net as unauthorised, describing both as a clone of an authorised firm without confirming which one. A reader searching for HYCM should know these lookalike sites exist and are flagged, and that the flags are not against HYCM itself.

Overview Table

Facts List

• The FCA register confirms FRN 186171 as Authorised, held by HYCM Capital Markets (UK) Limited, effective 1 December 2001.
• The DFSA register lists reference F000048 under HYCM Limited, not under the “HYCM Capital Markets (DIFC) Limited” name that HYCM’s own legal page uses.
• HYCM’s own legal page lists HYCM Capital Markets S.R.L. in Costa Rica as an “Other Incorporated Entity,” not as a regulated one.
• Companies House confirms company 02878581 as HYCM Capital Markets (UK) Limited, Private limited Company, incorporated 8 December 1993, status Active.
• A CIMA licence (1442313) and a CySEC licence attributed to HYCM by an earlier review do not appear on HYCM’s own fetched Regulation & Licenses page, and neither could be confirmed on the current register searches.
• Our warning-list search covered 1,441 entries mirrored from CySEC, the FCA and the FSC Mauritius; HYCM matched none of them.
• Four lookalike domains (hycmbot.com, hycmcapitalmarkets.com, hycmarket.com, hycmarkets.net) are flagged on those same lists as unauthorised, not as HYCM itself.
• The minimum deposit is $20 across the Fixed, Classic and Raw accounts, per HYCM’s fee page, and HYCM states it charges $0 on deposits itself.
• The Raw account carries commission of $4 per round on FX and $5 per round on metals, with $0 on other instruments, on top of spreads from 0.1 pips, per HYCM’s account page.
• HYCM Trader is marketed site-wide as part of HYCM’s platform offering, but the account comparison table on HYCM’s own accounts page lists it only under the Fixed account, not under Classic or Raw.

This review’s overall score of 5.7 comes from five current scores: regulation 6, fees 5.8, platform 5.9, support 7 and reviews 4. Against the previous 6.1, the register work behind this version is the main thing that moved: the DFSA record names a different entity than the one HYCM’s own page claims, the CIMA and CySEC licences an earlier review relied on could not be confirmed on HYCM’s own pages or on the registers we searched this time, and four lookalike domains built on the HYCM name turned up on regulator warning lists. None of that is a claim that HYCM itself changed; it is this review working from a different, and in places more contradictory, set of evidence than the last one did.

Key Takeaways

Our score for HYCM moves from 6.1 to 5.7 in this review. That is this review’s own assessment against the evidence gathered this round, not a claim that the firm has gotten worse: the regulation, fees, platform, support and reviews criteria were scored fresh against what we could verify now, and the shifts below are what that verification turned up.

What the registers actually show for HYCM

• The FCA register confirms FRN 186171 as held by HYCM Capital Markets (UK) Limited, status Authorised, effective 01/12/2001, and tied to Companies House number 02878581. That licence covers the UK entity only.
• HYCM’s own Regulation & Licenses page names “HYCM Capital Markets (DIFC) Limited” as the DFSA-regulated entity under reference F000048. The DFSA register itself lists reference F000048 against a different name, HYCM Limited, not HYCM Capital Markets (DIFC) Limited. That is a mismatch between what the firm’s own page states and what the DFSA register shows against that number.
• Companies House confirms HYCM Capital Markets (UK) Limited as company 02878581, Private Limited Company, incorporated 8 December 1993, status Active. Companies House confirms the company exists; it is not a financial regulator and confirms no licence.
• An earlier review of HYCM claimed a CIMA licence, number 1442313, and a CySEC licence later renounced in June 2024. Neither claim comes from HYCM’s own fetched pages, which list only the FCA and DFSA entities under Regulation & Licenses. We could not check either claim against the underlying register this round: the CIMA list we hold only covers Securities Investment Business licensees through 31 December 2025 and does not include SIBA registered persons or funds, and the CySEC register did not answer a control query we already knew the answer to, so nothing about HYCM’s status there follows from that failed check.
• HYCM Capital Markets S.R.L. in Costa Rica appears on HYCM’s own legal page under “Other Incorporated Entities,” not among the regulated entities, and its Costa Rica company registration (3-102-883933) is a registry entry we hold no authority record for, so it is unchecked rather than confirmed or denied.

Warning-list search: clean, plus four lookalike domains that are not HYCM

We searched 1,441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and HYCM matches none of them. Before relying on that clean result we ran a positive control against five registers known to hold a listed firm, so an empty HYCM result means absence rather than a broken search. That clean result covers only the three regulators we mirror, not every regulator anywhere.

Four domains built around the HYCM name turned up on those same lists, and none of them is HYCM. CySEC’s List of Non-Approved Domains names hycmbot.com and hycmcapitalmarkets.com as not authorised to provide investment services under any Cypriot licence; CySEC publishes the domain without naming the firm being imitated, so this does not identify HYCM as the target. The FCA register separately lists hycmarket.com and hycmarkets.net as unauthorised and names each a clone of an authorised firm, without confirming which firm. A reader searching for HYCM online should be warned these near-identical domains exist and are flagged by regulators, and told plainly that HYCM itself is not the firm on either list.

What HYCM’s own fee page and account tables show

• HYCM’s fee page gives a $20 minimum deposit across the Fixed, Classic and Raw accounts, and states no deposit fee from HYCM itself, though banks may deduct their own charges on wire transfers.
• The account comparison table gives Fixed spreads from 1.5 pips, Classic variable spreads from 1.2 pips, and Raw spreads from 0.1 pips; all three are “from” figures rather than typical or average spreads. Raw account commission is $4 per round on FX, $5 per round on metals, and $0 per round on other instruments, per the same table.
• The fee page’s deposit table lists cryptocurrency deposits at a $20 minimum, up to 3 hours’ processing and $0 fee, alongside two further unlabelled deposit rows in USD, EUR and GBP, one processing in 1 to 7 working days at $0 fee from HYCM and one processing within an hour at $0 fee.
• Multiple pages use the badges “Client Funds Kept in Tier-1 Banks” and “Tier-1 Client Fund Security.” The pages we fetched stop at that badge language; they do not include a specific statement that client funds are held in segregated accounts.

Platform: HYCM Trader doesn’t line up with the account table

HYCM markets its own HYCM Trader mobile app site-wide, on the home page and in navigation, as part of the broader offering alongside MT4 and MT5. The account comparison table on HYCM’s own accounts page lists HYCM Trader as a platform only under the Fixed account; it is not listed under Classic or Raw. A trader who opens a Classic or Raw account on the strength of the general marketing may find the app is not listed as available on that account type specifically.

Support channels and a contact detail worth flagging

HYCM’s current contact page lists live chat, a main phone line at +44-203-996-4943 covering account opening and general inquiries, separate email channels for client support, account opening, general inquiries, complaints and data protection complaints (support channels state 24/5 hours, complaints channels state 9:00-18:00 GMT+3), and four offices: London, DIFC Dubai, Kuwait, and a CMA office also in Dubai. That current phone number differs from the +44 208 816 7812 number given in the earlier review text we are updating; a reader relying on the older number would be dialing a different line than the one HYCM’s own current contact page publishes.

Licenses & Regulation

We searched four public registers directly for HYCM: the FCA, the DFSA, CIMA, and UK Companies House. Before treating any of them as clean or empty, we ran a positive control on five registers, searching for a firm we already know is listed there, so that a blank result reads as absence rather than a broken search.

HYCM Capital Markets (UK) Limited and the FCA

The FCA register confirms FRN 186171 as held by HYCM Capital Markets (UK) Limited, with status Authorised, effective from 01/12/2001, and linked to Companies House number 02878581. HYCM’s own regulation page names this entity as its UK-regulated arm, and Companies House confirms the company itself: number 02878581, a private limited company incorporated 8 December 1993, status Active. Companies House is a company registry rather than a financial regulator, so it confirms the corporate entity behind the FCA licence and nothing about the licence itself.

That FCA authorisation covers only part of what HYCM’s pages describe. The same regulation page lists HYCM Capital Markets S.R.L. in Costa Rica under “Other Incorporated Entities,” and it is not shown as a regulated entity there. We hold no register entry for the authority named on HYCM’s page as the Costa Rica company registry, so the Costa Rican registration number given there, 3-102-883933, has not been checked against any register on our side. That is a gap in our own coverage, not a finding about the entity.

The DFSA entity name does not match HYCM’s own page

HYCM’s regulation page names “HYCM Capital Markets (DIFC) Limited” as the entity holding DFSA reference F000048. The DFSA’s own public register of Authorised Firms lists that reference against a different name: HYCM Limited. The register confirms F000048 as Authorised for HYCM Limited, not for HYCM Capital Markets (DIFC) Limited, the entity HYCM’s page names. A reader checking the DIFC licence against the regulator’s own record would find a name mismatch worth querying with the firm directly.

Claims we could not check: CIMA and CySEC

An earlier review of HYCM stated that the firm holds Cayman Islands Monetary Authority licence 1442313 and previously held CySEC authorisation before renouncing it in June 2024. Neither claim appears on HYCM’s own fetched regulation page, which lists only the FCA and DFSA entities as regulated. We searched the CIMA List of Securities Investment Business Licensees for “HYCM” and for licence 1442313 and found no match, but the newest list CIMA links covers only the period to 31 December 2025, so a firm licensed after that date would not appear on it regardless, and the list only covers Securities Investment Business licensees; CIMA’s SIBA registered persons, funds, and other categories sit behind a CAPTCHA-protected form we did not check. On CySEC, our control query itself failed: the register did not respond to a query whose answer we already know, because of a fault in its TLS certificate chain rather than anything about HYCM. Neither the CIMA absence nor the CySEC non-response tells a reader anything about the firm’s current standing with either regulator; both are gaps in what we could verify this time, not confirmations or denials.

Warning-list search and look-alike domains

We searched 1,441 warning-list entries mirrored from CySEC, the FCA, and the FSC Mauritius, and HYCM does not appear on any of them. That search does not extend past those three regulators’ mirrored lists. It did surface four domains built on the HYCM name that are not this firm. CySEC’s List of Non-Approved Domains includes hycmbot.com and hycmcapitalmarkets.com; CySEC publishes these as unauthorised to provide investment services under any Cypriot licence but does not name which firm, if any, they are imitating. The FCA register separately lists hycmarket.com and hycmarkets.net as unauthorised, describing each as a clone of an authorised firm without confirming which one. None of these four sites is HYCM, and none of this is a mark against HYCM’s own licences, but a reader searching the brand name should know the near-identical domains exist and are flagged by regulators.

Who HYCM says it won’t serve

HYCM’s own legal page states that the firm does not offer its services to residents of Afghanistan, Belgium, Hong Kong, the United States, and some other unnamed regions, which sets the outer limit of who the UK and DIFC entities’ permissions can reach in practice.

Our previous score for HYCM’s regulation stood higher; this review scores regulation 6 out of 10, part of a move from 6.1 to 5.7 overall. That is our assessment shifting, not a change at the firm: this pass checked the DFSA record directly and found the entity name on HYCM’s own page does not match the register, and it could not corroborate the CIMA and CySEC claims carried over from the earlier review against either HYCM’s own current pages or the registers themselves. A single confirmed FCA licence covering one entity in the group, alongside an unresolved DFSA name and two unverifiable claims, is what the number reflects.

How to Trade

HYCM runs three live account types, Fixed, Classic and Raw, each reachable with a $20 minimum deposit according to HYCM’s own fees page. The three differ in how the spread and commission is structured rather than in what a trader can access.

Account types and what each costs to trade

• Fixed: fixed spreads from 1.5 pips, no commission, traded on HYCM Trader, MT4 or MT5, base currency USD only, no Expert Advisor support, minimum trade size 0.01 lots, per HYCM’s account comparison page.
• Classic: variable spreads from 1.2 pips, no commission, MT4 or MT5 only, base currency choice of EUR, USD, GBP, AED or JPY, Expert Advisors allowed, minimum trade size 0.01 lots, per the same page.
• Raw: raw spreads from 0.1 pips, MT4 or MT5 only, same base currency choice as Classic, Expert Advisors allowed, and a per-round commission on top of the tighter spread: $4 for FX, $5 for metals, and $0 for the “Others” category, according to HYCM’s account comparison page.

On top of these three, HYCM’s page describes a Special tier for VIP and Corporate clients trading larger volumes, which it says comes with a dedicated account manager, “comprehensive market analytics” and better spreads on Fixed accounts; no deposit threshold or spread figure is given for it. A demo option is offered alongside the live accounts.

Instruments on offer

HYCM’s site groups its tradable range as CFDs across five asset classes: forex, stocks, indices, cryptocurrencies and commodities. Separately, the site navigation advertises a “Stocks (NEW)” line offering direct investment in “1000+ Stocks”, distinct from the CFD stock offering listed on the platform pages. The evidence gathered here does not include a contract specification sheet, so we cannot report per-instrument margin or overnight financing rates.

Platforms: MT4, MT5 and HYCM Trader

Trading runs on MetaTrader 4 and MetaTrader 5, both offered as a “Powered by HYCM” desktop build, a web terminal, and third-party mobile MetaTrader apps, with Expert Advisor support built in. HYCM’s MT5 page adds that the platform carries 21 timeframes, six types of pending order and an integrated economic calendar. HYCM also runs its own mobile app, HYCM Trader.

The account comparison table itself only lists HYCM Trader as a platform option under the Fixed account; it is not listed there for Classic or Raw, even though HYCM markets the app site-wide as part of its general offering. A trader who opens a Classic or Raw account on the strength of that general marketing may find the proprietary app is not listed as available on their account type, and worth confirming with HYCM directly before opening one of those accounts expecting it.

Execution and headline stats

HYCM’s about page advertises average execution under 12 milliseconds and spreads “from” 0.1 pips as headline trading-condition figures. Both are best-case, “from” numbers rather than stated averages or guarantees, and the evidence here does not include an execution-quality report to check them against.

Funding a position and what it costs

HYCM’s fees page lists three deposit routes, all with a $20 minimum: a crypto route processed within 3 hours at $0 fee; a bank-linked route (currencies USD, EUR, GBP) processed in 1 to 7 working days at $0 fee from HYCM, though the page notes a sending bank may still deduct its own charges before the funds arrive; and a third route in the same currencies processed within an hour, also at $0 fee. HYCM’s fees page states no deposit fee applies on any route.

Client funds are described on HYCM’s own pages only through marketing badges, “Client Funds Kept in Tier-1 Banks” and “Tier-1 Client Fund Security”, used across multiple pages. Those are the words HYCM uses; the pages fetched here do not separately state that client funds are held in segregated accounts, so the two claims should not be read as the same thing.

Where HYCM will not open an account

HYCM’s legal page states: “We do not offer our services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, the United States of America and some other regions.” Separately, every attempted fetch of an Australia-facing page failed, most returning an empty response, while the same set of pages loaded normally for other countries tested. That pattern is not a statement by HYCM restricting Australian access, only a fetch failure worth checking independently before assuming Australian residents can or cannot open an account.

Account Types

HYCM’s UAE-facing accounts page lists three live account types: Fixed, Classic and Raw. All three share the same minimum deposit, $20, a figure that also appears on the firm’s UK fee page. None of the three carries a deposit fee from HYCM itself, though the UK fee page notes that banks may deduct their own charges from wire transfers before the funds arrive.

Fixed, Classic and Raw: what each account buys

That table, taken from HYCM’s own accounts page, draws the trade-off in plain terms: Fixed buys a fixed spread and a wider choice of base currency of one, USD, but locks out Expert Advisors entirely, while Classic and Raw both allow automated trading and let a client set the account in EUR, USD, GBP, AED or JPY. The minimum trade size is 0.01 lots across all three. Raw is the only tier that carries a per-round commission on top of its spread, and the firm’s own figures put that commission at $4 a round on FX, $5 a round on metals, and nothing on other instruments, against spreads it advertises from 0.1 pips. Classic and Raw’s variable and raw spreads are not fixed prices; the 1.2 and 0.1 pip figures are the firm’s own “from” figures, not a guaranteed rate on any given trade.

Demo, VIP and Corporate accounts

HYCM’s accounts page confirms demo accounts are available across its account types, alongside the three live tiers, with no separate deposit or fee terms given for the demo option. Above the retail tiers sits a Special account track for VIP and Corporate clients trading larger volumes; the accounts page describes VIP as coming with a dedicated account manager, market analytics, and better spreads on Fixed accounts specifically. The page does not give a minimum deposit, commission schedule, or volume threshold for qualifying as VIP or Corporate, so a trader weighing that tier against the standard three has to get those terms directly from HYCM.

Where HYCM’s own account table cuts against its marketing

HYCM markets its own mobile app, HYCM Trader, across the site: it appears in the main navigation and on the home page as part of the broker’s offering generally. But the account comparison table on the firm’s accounts page lists HYCM Trader as an available platform only under the Fixed account row, not under Classic or Raw. A trader who opens a Classic or Raw account on the strength of the site-wide app marketing should check, before funding it, whether HYCM Trader is actually available on that account, since the firm’s own comparison table does not list it there.

What isn’t priced on these pages

The accounts and fee pages we fetched give the minimum deposit, spread ranges and Raw account commissions listed above, and say nothing about withdrawal fees, inactivity fees, or overnight financing rates for any of the three account types. A trader pricing out the full cost of running a Fixed, Classic or Raw account against those pages alone would still need to find that information elsewhere on HYCM’s site.

Negative Balance Protection

HYCM’s account and fee pages are the only material we have that touches money at risk, and neither one sets out a margin call level, a stop-out level or a drawdown rule. The fee page lists a $20 minimum deposit and a $0 deposit fee, and the accounts page sets out a $20 minimum deposit across the Fixed, Classic and Raw accounts alongside spreads and commissions for each tier. None of that material states what happens to an account once losses run ahead of the funds in it. HYCM’s own pages do list Negative Balance Protection as a feature on the accounts and fee pages, but none of that material spells out a margin call trigger or an automatic stop-out percentage.

What HYCM’s own pages say about client money

The phrase used across the account and about pages is “Tier-1 Client Fund Security” and “Client Funds Kept in Tier-1 Banks”. That is a statement about which banks hold the money, not a statement that client funds are held in accounts segregated from HYCM’s own operating funds, and we found no segregation statement on the pages we fetched. It is also not a statement about negative balances: keeping client money at a Tier-1 bank says nothing about whether a client who is stopped out during a fast market move can end up owing HYCM more than they deposited.

Where the account terms are silent

The three live account types documented on the firm’s UAE accounts page, Fixed, Classic and Raw, are described by spread, commission, base currency and minimum trade volume, not by leverage cap or margin requirement. The Special account for VIP and Corporate clients trading larger volumes is described only as carrying a dedicated account manager, market analytics and better spreads on Fixed accounts, again with nothing on margin or loss handling. We read the fee and account pages HYCM publishes rather than a summary of them, and on that reading the loss-limit mechanics that would normally sit in a risk disclosure or account terms document were not part of what we fetched.

What that leaves a reader with is limited: HYCM’s own published pages commit to holding funds at Tier-1 banks and say nothing, on the pages we checked, about negative balance protection, margin calls or stop-out levels. A trader who wants those numbers before opening an account would need to ask HYCM directly or locate the risk disclosure and client agreement, neither of which was in the material available for this review.

Trading Instruments

HYCM markets its offering as five asset classes, “CFDs for Currencies…” alongside stocks, indices, cryptocurrencies and commodities, all sold as CFDs, per the firm’s own homepage. A separate navigation item, “Stocks (NEW), Invest in 1000+ Stocks,” is advertised in the site navigation, though the evidence we hold does not say whether that offering sits inside the CFD accounts described below or runs as a separate product.

What HYCM’s account pages actually list

The account comparison page names three live account types: Fixed, Classic and Raw, each with a $20 minimum deposit. Fixed offers fixed spreads from 1.5 pips, runs on HYCM Trader, MT4 and MT5, and carries no commission. Classic offers variable spreads from 1.2 pips on MT4 and MT5, also commission free. Raw offers spreads from 0.1 pips on MT4 and MT5, with commission charged separately: $4 per round for FX, $5 per round for Metals, and $0 per round for the “Others” category. All three list a minimum trade volume of 0.01 lots. Demo accounts are offered across account types, and a Special tier for VIP and Corporate clients trading larger volumes is described as including a dedicated account manager, “comprehensive market analytics” and, for Fixed accounts, better spreads, though no figures are given for what “better” means.

The account page’s own platform column is the place a reader should check before assuming HYCM Trader comes with every account: it lists HYCM Trader only under the Fixed account, not under Classic or Raw, even though HYCM Trader is marketed site-wide, on the home page and in the navigation, as part of the broker’s offering generally. Someone opening a Classic or Raw account on the strength of that general marketing may find HYCM Trader is not listed as available on the account type they actually hold.

Trading conditions and what backs them

HYCM’s about page advertises average execution time under 12 ms and spreads from 0.1 pips as headline trading condition statistics. Both are “from” or best case figures rather than stated averages or guarantees, and the evidence we hold does not include a methodology or sample period behind either number.

Platforms

MT4 is offered as a desktop platform “Powered by HYCM,” with a web terminal and third party mobile app support, and Expert Advisor compatibility. MT5 adds 21 timeframes, six types of pending orders and an integrated economic calendar, also with EA support. HYCM Trader is the firm’s own mobile app, available on Android and iOS, though as above it appears in the account comparison table only against the Fixed account.

Where the CIMA and CySEC claims stand

Our earlier review credited HYCM with a CIMA licence, number 1442313, and with a CySEC licence said to have been renounced in June 2024. Neither claim appears on HYCM’s own fetched Regulation and Licenses page, which lists only the FCA and DFSA entities. We searched the CIMA List of Securities Investment Business Licensees directly and found no licensee matching “HYCM” or that number, though CIMA’s newest linked list only runs to 31 December 2025 and covers Securities Investment Business licensees alone, so this does not establish that no CIMA authorisation exists elsewhere in CIMA’s records. The CySEC register did not answer our control query at all, a TLS fault on our end rather than any finding about the firm, so that claim is unverified rather than confirmed or ruled out.

Fund security language

HYCM’s own account pages use the phrases Client Funds Kept in Tier1 Banks and “TierClient Fund Security” as marketing badges across multiple pages. That is a statement about where funds sit, not a stated claim that client money is held in segregated accounts; the pages we fetched do not carry a segregation statement.

Names to watch for, not HYCM itself

Checking 1441 warning list entries mirrored from CySEC, the FCA and the FSC Mauritius, HYCM itself appears on none of them. Four look alike domains do, and none of them is the firm under review. CySEC’s List of Non Approved Domains names hycmbot.com and hycmcapitalmarkets.com as unauthorised to provide investment services under any Cypriot licence, without naming which firm, if any, they imitate. The FCA register separately lists hycmarket.com and hycmarkets.net as clones of an authorised firm, again without confirming which firm is being cloned. A reader searching for HYCM should know these exist and are flagged by regulators, while HYCM itself carries no warning list entry in the lists we checked.

Our previous score for this broker was 6.1 out of 10; this review scores it 5.7. The reviews criterion moved to 4, fees sits at 5.8 and platform at 5.9, reflecting gaps this review found in the evidence itself, the unverifiable CIMA and CySEC claims carried over from the earlier review, the HYCM Trader listing gap between marketing and the account comparison table, and the absence of any explicit segregation statement behind the “Tier1” fund security badges. This is our assessment applied to the current evidence, not a claim that HYCM’s own offering has changed.

Education & Analysis

HYCM’s platform lineup, as described on its own site, runs through MetaTrader rather than a proprietary desktop terminal. The firm’s UK platforms page lists MetaTrader 4, badged “Powered by HYCM,” with a desktop download, a web terminal reached through a “Launch MT4 Web Trader” link, and mobile access through the third-party MetaTrader app; the page also states MT4 supports Expert Advisors. A separate platforms page covers MetaTrader 5 in the same terms: desktop and web terminal versions, again “Powered by HYCM,” plus Expert Advisor support, 21 timeframes and six types of pending order, and an integrated economic calendar.

HYCM Trader and the gap in HYCM’s own account table

Alongside MT4 and MT5, HYCM markets its own mobile app, HYCM Trader, on Android and iOS. It is promoted broadly across the site’s home page and navigation as part of the broker’s offering. But the account comparison table on HYCM’s own accounts page tells a narrower story: it lists HYCM Trader as an available platform only for the Fixed account. The Classic and Raw rows in that same table name MT4 and MT5 as the platforms on offer and do not list HYCM Trader. A trader who opens a Classic or Raw account on the strength of the site-wide marketing for HYCM Trader would be relying on a promise that HYCM’s own account table does not make for those two account types.

What HYCM advertises about execution and spreads

HYCM’s about page states average execution time under 12 ms and spreads from 0.1 pips as headline trading-conditions figures. Both are framed as best-case numbers rather than typical or guaranteed ones: “from 0.1 pips” describes a floor on the Raw account, not a spread a trader should expect to see quoted consistently, and an execution time given as “under” a ceiling works the same way. Separately, the account pages confirm that the 0.1-pip figure sits on the Raw account specifically, where fixed and variable spreads on the Fixed and Classic accounts run higher (from 1.5 pips and from 1.2 pips respectively, per HYCM’s own account comparison page).

Analysis tooling and instrument range

Beyond order types and timeframes, the MT5 page’s own list of built-in tools is limited to what is described above: the integrated economic calendar, the 21 timeframes and the six pending order types. No charting package, screener or research tool outside MetaTrader’s own toolset is described on the platform pages fetched for this review. On instruments, HYCM’s Dubai-facing home page groups its offering as CFDs across five asset classes: currencies, stocks, indices, cryptocurrencies and commodities. The same page’s navigation separately advertises a “Stocks (NEW)” item pitched as access to “1000+ Stocks,” alongside the CFD stock listings described elsewhere on the platform pages; the fetched pages do not make clear whether this is a distinct instrument type from the CFD stocks already listed or a rebadging of the same offering.

Special Offers

HYCM’s account comparison page describes five account types: Fixed, Classic, Raw, a Demo option, and a tier the firm labels “Special (VIP/Corporate)”. None of the fee or account pages we fetched frames any of these as a promotional offer with a bonus, a matched deposit or a time-limited discount; what they describe instead is a pricing structure built on spreads and commission, plus one tier aimed at volume traders. We report what those pages say rather than filling the gap with a claim about promotions the firm may or may not run elsewhere.

The VIP and Corporate tier HYCM does describe

The account comparison page on the firm’s UAE accounts page sets the “Special” tier apart from Fixed, Classic and Raw as one for VIP and Corporate clients trading larger volumes. Its stated features are a dedicated account manager, what the page calls “comprehensive market analytics,” and better spreads, with the improvement to spreads specified only “for Fixed accounts.” No minimum deposit, minimum volume or other qualifying condition for reaching this tier is given on that page. That leaves the practical question, how much a client needs to trade or deposit to be treated as VIP, unanswered by the material we fetched.

The same page lists HYCM Trader, the firm’s own mobile app, as an available platform only in the row for the Fixed account, not for Classic or Raw. Fixed is also the only tier the VIP language explicitly ties its spread improvement to. Read together, the two entries suggest the VIP treatment on this page is scoped narrowly to the Fixed account rather than applying uniformly across the account range, though the page does not say this in so many words for the Corporate half of the tier.

What HYCM’s fee page shows instead of a promotion

The fee page gives a minimum deposit of $20 across Fixed, Classic and Raw, and states a $0 deposit fee, noting that a sending bank may still deduct its own charges on a wire transfer. Deposits by an unlabelled method processed within an hour, deposits by a second unlabelled method taking one to seven working days, and cryptocurrency deposits processed within three hours are each listed at $20 minimum and $0 HYCM fee. On Raw, the account page sets commission at $4 per round turn on FX, $5 per round turn on Metals, and $0 on other instruments. None of these entries carries a promotional label, an introductory rate that later reverts, or a credit conditional on deposit size; they read as the standing fee schedule, not an offer.

Beyond the account and fee pages, HYCM’s own about page adds two headline trading-conditions figures, average execution under 12 ms and spreads “from” 0.1 pips, both flagged there as best-case rather than guaranteed averages. We found nothing on the pages we fetched describing a welcome bonus, a deposit-matching scheme, a cashback or rebate programme, or a referral incentive. That is a statement about the material we reviewed, not a finding that HYCM runs no such programme: the pages we pulled were the account comparison, fee, platform, contact, about and legal pages for the UK and UAE-facing sites, and a dedicated promotions page, if one exists elsewhere on the site or in a client’s dashboard after registration, was not among them.

Opening an Account

HYCM’s fees page lists a $20 minimum deposit for its payment methods, and the account comparison table on the firm’s UAE-facing site puts the same $20 figure against the Fixed, Classic and Raw accounts alike. Beyond the three live tiers in the comparison table, the same page describes a Demo account for practice and a Special tier for VIP and Corporate clients trading larger volumes, which HYCM describes as coming with a dedicated account manager, “comprehensive market analytics” and, on Fixed accounts, better spreads.

Choosing an account at HYCM

The three live tiers differ in pricing rather than in what it takes to open one. Fixed runs fixed spreads from 1.5 pips with no commission, on HYCM Trader, MT4 or MT5. Classic carries variable spreads from 1.2 pips, also commission-free, on MT4 or MT5. Raw advertises spreads from 0.1 pips on MT4 or MT5 plus a per-round commission of $4 on forex, $5 on metals and $0 on other instruments. All three list a minimum trade size of 0.01 lots and a $20 minimum deposit, so the account name chosen at signup sets the fee structure a client trades under, not the amount needed to get started.

Funding the account

HYCM’s fees page lists three deposit routes, none carrying a fee from HYCM itself. A cryptocurrency deposit is processed within 3 hours; a USD/EUR/GBP route is processed within an hour; a second USD/EUR/GBP route can take one to seven working days, and on that slower route HYCM notes the sending bank may deduct its own charges before the money arrives. The fee page does not name the specific payment method behind either of the two USD/EUR/GBP rows, only the currency and timing.

Who HYCM will not open an account for

HYCM’s own legal page states: “We do not offer our services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, the United States of America and some other regions.” That page names those four countries specifically and leaves the rest of the excluded list unnamed. Separately, every attempted fetch of an Australia-facing HYCM page failed, while the equivalent pages loaded normally for the other countries checked. That pattern doesn’t establish that HYCM blocks Australian applicants; it establishes only that we could not retrieve those pages during this check, and it’s worth an Australian applicant confirming directly with HYCM before assuming either way.

Which HYCM entity an applicant actually signs with

HYCM’s regulation and licensing page splits the brand into three legal entities, and which one takes on a given applicant depends on where that applicant is based: HYCM Capital Markets (UK) Limited, HYCM Capital Markets (DIFC) Limited, and HYCM Capital Markets S.R.L. in Costa Rica, which the same page lists under “Other Incorporated Entities” rather than alongside the two regulated entities. A UK applicant and a Costa Rica-entity applicant are not signing the same contract with the same regulatory backing behind it, so it’s worth checking, at the point of signup, which entity’s name appears on the account-opening documents rather than assuming it matches whichever office is mentioned in marketing copy for a given region.

What the fetched pages don’t say

The pages pulled for this review cover deposit minimums, funding routes and the excluded-jurisdictions statement, but none of them describe the identity or address documents HYCM asks new clients to submit, any tiered verification levels, or how long that check takes. We’re reporting that gap rather than filling it: nothing here should be read as HYCM requiring light-touch verification, only that the pages we fetched didn’t cover the point.

Deposits & Withdrawals

We read HYCM’s own fee page rather than take a summary of it, and the money-in side is set out plainly there: a minimum deposit of $20 applies across the Fixed, Classic and Raw accounts, and HYCM’s fee page states the firm charges $0 on deposits. The same page adds a caveat worth keeping: on wire transfers, the sending bank can still deduct its own charges before the money arrives, so a $0 deposit fee from HYCM is not the same as a $0 cost to the client on every rail.

How HYCM’s deposit rails are described

HYCM’s fee page lists a cryptocurrency deposit route with a $20 minimum, processing “up to 3 hours” and a $0 fee. Two further rows on the same deposit table cover USD, EUR and GBP: one with a $20 minimum, processing of 1 to 7 working days and a $0 fee from HYCM (again subject to the sending bank’s own deductions), the other with a $20 minimum, processing “up to 1 hour” and a $0 fee. The extracted page text did not capture the method icon for either of these two rows, so we cannot say from this evidence whether they are card, bank transfer, or some other named channel; we can only report the minimums, timings and fees as HYCM’s page states them.

What HYCM’s own pages say about getting money out

The fee page we fetched is built as a deposit table: minimums, processing windows and fees for money going in. It does not set out a matching schedule for withdrawals, so we hold no fetched figures on withdrawal fees, processing times or minimum withdrawal amounts. That is a gap in what HYCM’s site gave us on this pass, not a finding that withdrawals are free, capped, or fast; a reader who wants that schedule needs to ask HYCM directly or check the account portal rather than rely on this review to supply a number that was not on the page.

Trading costs that sit on top of the deposit

Once funds are in, the account type chosen decides what else comes off the top. HYCM’s accounts page gives the Fixed account fixed spreads from 1.5 pips with no commission, the Classic account variable spreads from 1.2 pips with no commission, and the Raw account spreads from 0.1 pips plus per-round commission of $4 on FX, $5 on metals and $0 on other instruments. All three carry the same $20 minimum deposit, so the cost difference between them is entirely in spread and commission, not in what it takes to open the account.

Which HYCM entity is actually holding the money

HYCM’s own legal page names more than one entity behind the brand, and it matters which one a depositor is contracting with. HYCM Capital Markets (UK) Limited is the entity the Financial Conduct Authority register confirms as authorised under FRN 186171, and Companies House confirms it as company number 02878581, incorporated 8 December 1993 and listed Active. The same legal page separately names HYCM Capital Markets S.R.L., registered in Costa Rica under number 3-102-883933, and lists it under “Other Incorporated Entities” rather than as a regulated one; the page does not state that this Costa Rica registration carries any financial-services authorisation of its own. We also note that HYCM’s root page cites the UK company number specifically in connection with providing the MetaTrader platform, which is not necessarily the same as the entity that opens and holds a given client’s trading account. A depositor should check, at account opening, which of these entities their funds and their agreement actually sit with.

Fund-security language versus segregation

HYCM’s accounts page carries badges reading “Client Funds Kept in Tier-1 Banks” and “Tier-1 Client Fund Security.” That tells a reader which class of bank the money sits in, but it is not the same claim as an explicit statement that client funds are held in accounts segregated from HYCM’s own money, and no such segregation statement appears on the pages we fetched. We report the badge as written and note what it does not say, rather than assume segregation follows from it.

Who cannot deposit at all

HYCM’s legal page states plainly that the firm does not offer its services to residents of “certain jurisdictions such as Afghanistan, Belgium, Hong Kong, the United States of America and some other regions.” The wording leaves the full list open-ended, so a reader in a jurisdiction not named here still needs to check directly with HYCM before assuming deposits are open to them.

Our previous review scored HYCM 6.1 out of 10 overall; this review scores it 5.7. That movement is our assessment, made against current evidence, not a claim that HYCM’s terms have gotten worse. On the fees side specifically, this review scores HYCM 5.8 out of 10, weighed against a fee page that is thorough on deposits, $0 on HYCM’s own deposit charges, but silent on withdrawal fees and timelines, and against an entity structure where the Costa Rica registration is not shown as regulated. Those are the specifics behind the number, not a verdict on trend.

Customer Support

HYCM’s contact page lists a UK phone number, +44-203-996-4943, tied to Account Opening and General Inquiries, and a separate live chat link. That is the only number HYCM’s own current contact page gives; an earlier version of this review carried +44 208 816 7812, which is not the number now published, so a reader relying on that older figure would be dialing the wrong desk.

How to reach HYCM

Beyond phone and live chat, HYCM’s contact page lists five separate email lines, each tied to its own working hours, though the actual addresses are obscured in the page source we fetched and could not be read. Client Support, Account Opening and General Inquiries all carry 24/5 hours; the Account Opening and General Inquiries lines share the same +44-203-996-4943 number as the main contact point. Complaints and Data Protection Complaints run on a narrower window, 9:00 to 18:00 GMT+3, which is roughly Dubai time rather than the UK office’s own clock.

HYCM lists four physical offices on its contact page: 51 Moorgate, London EC2R 6LL for the UK entity; a 9th-floor address at Liberty House in the DIFC, Dubai, for the DFSA-regulated entity; a Kuwait office at Al-Soor Tower with its own local line, 22915450; and a fourth Dubai address at Latifa Tower, Sheikh Zayed Road, listed under an “HYCM CMA Office” heading. None of the fetched contact material ties any of these offices to a specific licence beyond what the FCA and DFSA entries already establish for London and the DIFC.

What a complaint actually gets

The narrower 9:00-18:00 GMT+3 hours set for the Complaints and Data Protection Complaints email lines are the only channel detail we hold that specifically constrains how a complaint gets handled, as opposed to a general enquiry. We did not find, on the pages fetched, a published complaints procedure, an internal escalation timeline, or a statement of which regulator’s complaints process applies to which entity. Given the FCA licence covers only HYCM Capital Markets (UK) Limited and the DFSA licence covers HYCM Limited under reference F000048, a complaint’s actual regulatory path likely depends on which entity a client is contracted with, but the contact page itself does not spell that out.

The support score for this review sits at 7 out of 10, the highest of the criteria scored here, reflecting the breadth of channels HYCM lists, phone, live chat, five distinct email addresses, and four offices across three countries, set against the gaps in what we could actually verify: no visible complaints procedure, obscured email addresses in the fetched source, and a phone number that has changed since the version of this review that scored HYCM 6.1 overall.

Why the overall score moved

This review scores HYCM 5.7 overall, down from the 6.1 this catalogue previously recorded. The reviews criterion is the low point among the six scored here, at 4 out of 10, and the regulation criterion sits at 6, reflecting a register check that confirmed the FCA licence for HYCM Capital Markets (UK) Limited but found the DFSA reference F000048 registered to HYCM Limited rather than to “HYCM Capital Markets (DIFC) Limited,” the entity name used in the firm’s own legal page. The move is this review’s own reassessment against the current evidence and register checks above, not a claim that HYCM’s support operation itself has changed.

Prohibited Countries

HYCM’s legal page names one restriction outright: “We do not offer our services to residents of certain jurisdictions such as Afghanistan, Belgium, Hong Kong, the United States of America and some other regions.” That is the full list the firm publishes. It is worded as examples rather than a closed list, so the named four are confirmed exclusions and the “some other regions” phrase leaves the rest unspecified. We report what the page says, not a guess at what it left out.

What HYCM’s own pages say, and what they do not

Beyond that one sentence, the fetched pages carry no country-by-country eligibility table, no separate page listing restricted territories, and no explanation for why Afghanistan, Belgium, Hong Kong and the United States are singled out. The account pages describe Fixed, Classic and Raw accounts with a $20 minimum deposit and do not attach any country condition to opening one. So the restriction sits in one clause on the legal page, not built into the account-opening material we fetched.

The evidence also shows HYCM operates through more than one regulated entity, and that matters for who is actually being served where. HYCM Capital Markets (UK) Limited holds FCA authorisation, FRN 186171, confirmed on the FCA register as Authorised. The DFSA register, under reference F000048, lists the authorised firm as HYCM Limited, not “HYCM Capital Markets (DIFC) Limited” as the firm’s own material names it, so that entity’s DFSA status could not be confirmed as described. A third entity, HYCM Capital Markets S.R.L. in Costa Rica, appears on the legal page only under “Other Incorporated Entities” and is not listed as regulated. None of this tells us which entity a given country’s clients are onboarded under, but it means the “who can use HYCM” question is not answered by a single licence covering the whole brand.

What we could not confirm about HYCM and Australia

Every attempted fetch of an Australian-facing HYCM page, root, about, legal, contact, fees, accounts, platforms and terms, failed, most returning a zero-byte body, while the same set of pages succeeded for other countries we tried. We did not find a statement from HYCM restricting Australian access, and a run of failed fetches is a technical pattern, not a published policy. We flag it because the pattern was consistent across every page attempted, not a one-off timeout, and a reader in Australia should check directly with HYCM rather than assume either way from this review.

CySEC and the claimed EU exit

Our earlier review of HYCM stated that the firm renounced its CySEC authorisation in June 2024 and stopped accepting EU clients under that entity. We did not read that document ourselves, and HYCM’s own fetched legal page makes no mention of CySEC or of any EU-facing entity at all, regulated or otherwise, only FCA, DFSA and the unregulated Costa Rica company. Separately, the CySEC register itself did not answer our control query during this check, a certificate chain fault on the register’s own site rather than anything about HYCM, so we could not verify current CySEC status independently. Between the silence on HYCM’s own page and the unverifiable register, we cannot confirm whether EU residents are excluded as a matter of licensing; we can only pass on that an earlier review reported it and that HYCM’s current material says nothing on the point.

Names to watch, not HYCM itself

Searching 1,441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius turned up no match for HYCM itself. Four similarly named sites did turn up, and none of them is this firm. CySEC’s List of Non-Approved Domains names hycmbot.com and hycmcapitalmarkets.com as unauthorised to provide investment services under any Cypriot licence, without saying which firm, if any, they were made to resemble. The FCA register separately lists hycmarket.com and hycmarkets.net as clones of an authorised firm, again without confirming which one. A reader searching for HYCM and landing on any of these four domains is not dealing with the broker this review covers.

Our score

This review scores HYCM 5.7 out of 10, down from a prior 6.1. Regulation lands at 6: one confirmed FCA licence for the UK entity sits against a DFSA entity name that does not match the register’s own record, an unconfirmed Costa Rica registration, and a CySEC claim we could neither confirm nor find on HYCM’s own pages. The move is our assessment being restated against current evidence, not a change in what HYCM itself is doing.

Conclusion

HYCM covers two regulated entities and a third that is not regulated at all, and getting the boundaries between them straight matters more here than usual. We score HYCM 5.7 out of 10, down from the 6.1 we gave it in our previous review. The movement follows from what the current evidence actually shows across regulation, fees, platform and reviews, not from any change at the firm; the criteria and the sources we checked this time are different, so the two scores are not a like-for-like comparison of the broker getting better or worse.

What HYCM’s licences actually cover

The FCA register confirms FRN 186171 as held by HYCM Capital Markets (UK) Limited, status Authorised, effective 1 December 2001, and Companies House confirms the same company, number 02878581, incorporated 8 December 1993 and still Active. That licence covers the UK entity only. HYCM’s own legal page names a separate Costa Rica entity, HYCM Capital Markets S.R.L., under “Other Incorporated Entities,” and that page does not list it as regulated by anyone.

The Dubai side is where the paper trail does not line up. HYCM’s own legal page names “HYCM Capital Markets (DIFC) Limited” as the DFSA-regulated entity, but the DFSA public register lists reference F000048 as held by HYCM Limited, not by the entity name HYCM’s own page gives. We are not in a position to say which of those two names is the operating error; we can only report that the firm’s stated entity and the regulator’s listed entity do not match on the same reference number.

Two more licence claims from the version of this review we are replacing could not be carried forward. A CIMA licence number, 1442313, and a CySEC authorisation were both present only in the earlier text, not on any HYCM page we fetched this time. Searching the CIMA List of Securities Investment Business Licensees turned up no entry for HYCM or that number, though CIMA’s newest published list only runs to 31 December 2025 and covers one licence category out of several, so that is a gap in what we could check rather than a finding against the firm. The CySEC register did not answer a control query during this check, so CySEC status is also unverified rather than ruled out.

On the warning-list side, HYCM’s name did not turn up in any of the 1441 entries we searched, mirrored from the FCA, CySEC and FSC Mauritius lists. What did turn up were four look-alike domains: CySEC’s List of Non-Approved Domains names hycmbot.com and hycmcapitalmarkets.com, without saying which broker either one imitates, and the FCA register lists hycmarket.com and hycmarkets.net as unauthorised, calling both a clone of an authorised firm without confirming which one. None of that is a mark against HYCM itself, but a reader typing the brand name into a search engine could land on one of those four instead.

What HYCM’s own fee pages show

HYCM’s fee page puts the minimum deposit at $20 across the Fixed, Classic and Raw accounts, and states no deposit fee of its own, though it notes a sending bank may deduct its own charge on a wire transfer. The account comparison page gives Fixed spreads from 1.5 pips with no commission, Classic spreads from 1.2 pips with no commission, and Raw spreads from 0.1 pips plus commission of $4 per round on FX, $5 per round on metals, and $0 per round on other instruments. Those are “from” figures on the from-quotes account, not guaranteed averages, and the account page does not say what a typical filled spread looks like once a position is actually open.

MT4, MT5, and where HYCM Trader stops being available

HYCM offers MetaTrader 4 and MetaTrader 5 as desktop, web and mobile platforms, both badged “Powered by HYCM,” plus its own HYCM Trader mobile app. HYCM Trader is marketed across the site as part of the broker’s offering generally, but the account comparison table lists it as a platform option only under the Fixed account, not under Classic or Raw. A trader who opens a Classic or Raw account expecting the app because of the general marketing may find it is not listed against the account they actually hold.

Support channels and reach

HYCM’s contact page lists live chat, a main phone line at +44-203-996-4943, and separate email channels for client support, account opening, general inquiries, complaints and data protection complaints, with 24/5 hours quoted for the first three and narrower business hours for the complaints channels. It lists physical offices in London, the DIFC in Dubai, Kuwait and a separate CMA office in Dubai. That phone number differs from the one given in the version of this review we replaced, so a reader working from an older copy would be dialing a number HYCM’s current page does not list.

Why the reviews score sits at 4

The reviews figure is the lowest of the five scores behind this write-up, and it is not offset by anything in HYCM’s own published material, which naturally says nothing about how the firm is rated elsewhere. Combined with the DFSA entity mismatch and the unregulated Costa Rica entity sitting in the same group, it is the main thing pulling the overall figure down to 5.7.

We score HYCM 5.7 out of 10, down from the 6.1 we gave it before. The FCA-regulated UK entity offers a $20 minimum deposit across Fixed, Classic and Raw accounts, but the group’s Dubai and Costa Rica entities carry regulatory gaps worth checking before funding an account.

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