A CFD broker with a UK company authorised by the FCA and a Dubai company licensed by the DFSA. Its main international website signs clients up with a Costa Rica company that holds no financial licence.
Facts last checked 20 October 2026. Always confirm on the regulator’s register. How we review brokers
Get an email when HYCM's licence or key facts change.
Key facts
Founded
Not yet checked
Headquarters
London, United Kingdom
Minimum deposit
$20
Max. retail leverage
1:30 on major pairs for FCA retail clients; up to 1:500 at the Costa Rica company
Cheapest cost per lot
Not yet checked
Regulators
FCA (United Kingdom), DFSA (United Arab Emirates (DIFC))
Platforms
MetaTrader 4, MetaTrader 5, HYCM Trader app, Web Trader
✓FSCS for eligible clients of HYCM Capital Markets (UK) Limited onlyWhat this means
Regulation and entities
Your protection depends on which company holds your account, and that depends on where you live. Each row is one licensed company. What regulation means
Before you deposit: search the licence number on the register, then check that the website and phone number listed there match the ones you are using. How to check a licence
Websites
Official websites
✓hycm.com
✓hycm.co.uk
Type the address yourself or use a bookmark. Check it matches the website listed for the firm on the regulator’s register.
Watch out for look-alike sites
These addresses have used HYCM’s name but are not run by it:
✗hycmarkets.net(not official)
✗hycmarket.com(not official)
✗heynepmarkets.com(not official)
A clone firm copies a real broker’s name, licence number and branding to take deposits. The register shows the genuine firm, so the surest check is the contact details: if the website, email or phone number you were given is not the one on the register, treat it as a clone. Check a broker step by step
Accounts and costs
Account types and costs not yet checked.
Cost per lot = typical EUR/USD spread × $10 + round-turn commission, for one standard lot (100,000 units) in busy hours. Swap and other fees are extra. Trading costs explained
Leverage and margin
Leverage lets you open a position bigger than your deposit, so losses grow as fast as gains. The caps below are the most HYCM allows; you can always use less.
50% (HYCM may start closing positions from 55%)When your equity falls to 50% (HYCM may start closing positions from 55%) of your used margin, the platform starts closing your trades, usually the biggest loser first, until the level recovers.
UK company authorised by the FCA since 2001 and allowed to hold client money
Client money kept in segregated accounts, with negative balance protection
Low $20 minimum deposit on every account type
Watch out for
The international website (hycm.com) signs clients up with HYCM Capital Markets S.R.L., a Costa Rica company with no financial licence
Leverage of up to 1:500 at the Costa Rica company, against 1:30 for FCA retail clients
The FCA has warned about many clone firms using HYCM's name, including hycmarkets.net and hycmarket.com
Spreads are published only as "from" figures, so typical costs are hard to compare
Overview
HYCM is the trading brand of the Henyep group. It offers CFDs on forex, metals, indices, commodities, shares and cryptocurrencies through MetaTrader 4, MetaTrader 5 and its own HYCM Trader app. There are three account types: Fixed, Classic and Raw, all with a $20 minimum deposit.
Regulation and safety
HYCM Capital Markets (UK) Limited is authorised by the FCA under reference 186171. The register shows it as authorised since 1 December 2001 and allowed to hold client money. In Dubai, the DFSA register lists HYCM Limited (reference F000048) with a licence dated 19 September 2006 and permission to deal with retail clients.
The international website, hycm.com, names a third company: HYCM Capital Markets S.R.L., registered in Costa Rica under number 3-102-883933. That is a company registration, not a financial licence. If you sign up through that site you will not get FCA protection or FSCS cover. The FCA register also lists more than ten clone firms using HYCM’s details, including the websites hycmarkets.net, hycmarket.com and heynepmarkets.com. Read our guide to broker scams and check a broker before you deposit.
Costs
The Fixed account quotes spreads from 1.5 pips and the Classic account from 1.2 pips, with no commission. The Raw account starts from 0.1 pips plus $4 per round turn on forex and $5 on metals. HYCM publishes only these “from” figures, not typical spreads, and says spreads widen between 8pm and 6am GMT. See our trading costs guide for how to compare accounts.
Platforms and tools
You can trade on MT4, MT5, their web versions and the HYCM Trader app. Expert advisors and VPS use are allowed. Our MT4 vs MT5 guide explains the differences.
Deposits and withdrawals
The minimum deposit is $20 by bank wire, card or cryptocurrency, and HYCM charges no fee. Your first withdrawals go back to the original source. Profits can only be withdrawn by wire transfer to a bank account in your own name, and may take three to seven days to arrive.
Who it may suit
UK residents who can join the FCA company and want MetaTrader with a low first deposit. If you live elsewhere, check which company your agreement names and treat the Costa Rica company’s 1:500 leverage with care.
How to open an account
The steps as we checked them. Never deposit until you have confirmed the licence.
Check which company you will join
The international site signs you up with HYCM Capital Markets S.R.L. in Costa Rica. UK clients of HYCM Capital Markets (UK) Limited are covered by FCA rules. Check the company named in your client agreement.
Fill in the application
Give your personal details and answer the questions about your trading experience.
Send your documents within 7 days
Upload a passport or national ID card and a bank statement or utility bill from the last 3 months. Accounts without documents after 7 days are suspended.
Choose an account
Pick Fixed, Classic or Raw. All three start at $20; Raw adds a commission of $4 per round turn on forex.
Fund the account
Deposit by bank wire, card or cryptocurrency in your own name. Profits can only be withdrawn by wire transfer to a bank account in your name.
Practise first
Open a demo account and test MT4, MT5 or the HYCM Trader app before you trade with real money.
What changed on this profile
Profile published. Licences checked on the FCA register and the DFSA public register. Clone domains taken from the FCA register's warnings on this firm.
HYCM: common questions
Is HYCM regulated?
HYCM Capital Markets (UK) Limited is authorised by the FCA (reference 186171), and HYCM Limited in Dubai is licensed by the DFSA (F000048). We checked both on 20 October 2026. HYCM Capital Markets S.R.L., the Costa Rica company used by the international website, is a registered company with no financial licence.
Which HYCM company will I join?
If you open an account through hycm.com from outside the UK, the site names HYCM Capital Markets S.R.L. in Costa Rica. Check the company in your client agreement, because only FCA and DFSA clients get those regulators' protection.
What is the minimum deposit?
$20 for the Fixed, Classic and Raw accounts.
Can I lose more than I deposit?
HYCM says it offers negative balance protection, and positions are closed automatically when your margin level reaches 50%. Leverage still magnifies losses, and you can lose all your capital.
AvaTradeStrictly regulatedCentral Bank of Ireland (European Union), ASIC (Australia), JFSA (Japan), FSRA (ADGM) (United Arab Emirates (Abu Dhabi Global Market)), CMA (Kenya) (Kenya), FSCA (South Africa), FSC (BVI) (British Virgin Islands), CySEC (European Union)Also licensed by a strict regulator
CapitalXtendRegulatedFSC Mauritius (Mauritius)Also licensed by a standard-tier regulator
CG FinTechRegulatedFSC Mauritius (Mauritius)Also licensed by a standard-tier regulator
CMC MarketsStrictly regulatedFCA (United Kingdom), BaFin (European Union), ASIC (Australia), MAS (Singapore), CIRO (Canada), FMA (New Zealand) (New Zealand), DFSA (United Arab Emirates (DIFC))Also serves United Kingdom and United Arab Emirates (DIFC)
CPT MarketsRegulatedFSCA (South Africa), Belize FSC (Belize (international clients)), UAE CMA (United Arab Emirates)Also licensed by a standard-tier regulator
ErranteStrictly regulatedCySEC (European Union), FSA Seychelles (International)Also licensed by a strict regulator
FxProStrictly regulatedFCA (United Kingdom), CySEC (European Union), SCB (The Bahamas), FSA Seychelles (Seychelles)Also serves United Kingdom
IC MarketsStrictly regulatedASIC (Australia), CySEC (European Union), SCB (The Bahamas), FSA Seychelles (Seychelles)Also licensed by a strict regulator
IFC MarketsRegulatedBVI FSC (British Virgin Islands), Labuan FSA (Labuan, Malaysia)Also licensed by a standard-tier regulator
IGStrictly regulatedFCA (United Kingdom), FCA (United Kingdom), BaFin (European Union), FINMA (Switzerland), ASIC (Australia), FMA (New Zealand) (New Zealand), MAS (Singapore), JFSA (Japan), CFTC / NFA (United States), DFSA (Dubai (DIFC), UAE), FSCA (South Africa)Also serves United Kingdom
Interactive BrokersStrictly regulatedCFTC / NFA (United States), CIRO (Canada), FCA (United Kingdom), Central Bank of Ireland (European Union), ASIC (Australia), MAS (Singapore), DFSA (Dubai (DIFC), UAE)Also serves United Kingdom
LiteFinance (LiteForex)Strictly regulatedCySEC (European Union)Also licensed by a strict regulator
OneRoyalStrictly regulatedCySEC (European Union), ASIC (Australia), VFSC (Vanuatu (international clients))Also licensed by a strict regulator
OrbexRegulatedFSC Mauritius (Mauritius (international clients)), FSA Seychelles (Seychelles (international clients))Also licensed by a standard-tier regulator
TickmillStrictly regulatedFCA (United Kingdom), CySEC (European Union), FSCA (South Africa), DFSA (United Arab Emirates (DIFC)), FSA Seychelles (Seychelles)Also serves United Kingdom and United Arab Emirates (DIFC)
TrendoRegulatedFSC Mauritius (Mauritius (international clients))Also licensed by a standard-tier regulator
XMStrictly regulatedCySEC (European Union), DFSA (United Arab Emirates (DIFC)), FSCA (South Africa)Also serves United Arab Emirates (DIFC)
XS.comStrictly regulatedFSA Seychelles (International), CySEC (European Union), ASIC (Australia), Labuan FSA (Malaysia (Labuan))Also licensed by a strict regulator
This profile is factual information, not a recommendation or financial advice. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Read the full disclaimer.
