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Head to head

HYCM vs Interactive Brokers

HYCM is licensed by FCA in the United Kingdom and DFSA in the United Arab Emirates (DIFC). Interactive Brokers is licensed by CFTC / NFA in the United States; CIRO in Canada; FCA in the United Kingdom; Central Bank of Ireland in the European Union; ASIC in Australia; MAS in Singapore and DFSA in Dubai (DIFC), UAE. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $20 at HYCM and $0 at Interactive Brokers. Only HYCM offers negative balance protection. Both offer segregated client money.

Facts last checked: HYCM on 20 October 2026, Interactive Brokers on 20 October 2026.

HYCM profileInteractive Brokers profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
HYCMStrictly regulatedRead the profile
Interactive BrokersStrictly regulatedRead the profile
Comparing
HYCMUnited Kingdom
Interactive BrokersUnited States

Overview

Founded
Not yet checked
Not yet checked
Headquarters
London, United Kingdom
Greenwich, Connecticut, United States
Official websites
  • hycm.com
  • hycm.co.uk
  • interactivebrokers.com
  • interactivebrokers.co.uk
  • interactivebrokers.ie
  • interactivebrokers.com.au
  • interactivebrokers.ca
  • interactivebrokers.com.sg
  • ibkr.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
HYCM Capital Markets (UK) Limited
Interactive Brokers LLC
Regulator
FCA
United Kingdom
CFTC / NFA
United States
Regulation level
Strictly regulated
Strictly regulated
Licence number
186171
Check the register
NFA ID 0258600 (futures commission merchant)
Check the register
Clients this company serves
UK residents
US residents; also clears and carries many accounts opened through the UK company
All licences held
  • FCA (United Kingdom)
  • DFSA (United Arab Emirates (DIFC))
  • CFTC / NFA (United States)
  • CIRO (Canada)
  • FCA (United Kingdom)
  • Central Bank of Ireland (European Union)
  • ASIC (Australia)
  • MAS (Singapore)
  • DFSA (Dubai (DIFC), UAE)
Segregated client money
Yes
Yes
Negative balance protection
Yes
No
Compensation scheme
FSCS for eligible clients of HYCM Capital Markets (UK) Limited only
SIPC (US, securities only); FSCS in limited circumstances (UK); Irish Investor Compensation Scheme (Ireland); CIPF (Canada)

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Not yet checked

Leverage and margin

Maximum retail leverage
1:30 on major pairs for FCA retail clients; up to 1:500 at the Costa Rica company
1:30 on major pairs for CFDs (UK, EU, Australia)
Retail leverage by asset class
  • Major currency pairs: 1:30 (FCA); up to 1:500 (Costa Rica)
  • Bitcoin CFDs: 1:5 (Costa Rica company only)
  • Major currency pair CFDs: 1:30
  • Non-major currency pair: 1:20
  • Share CFDs: 1:5
Margin call level
Not yet checked
Not yet checked
Stop-out level
50% (HYCM may start closing positions from 55%)
Not yet checked

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • HYCM Trader app
  • Web Trader
  • Trader Workstation (TWS)
  • IBKR Desktop
  • Client Portal
  • IBKR Mobile
  • IBKR APIs
Markets
300+ CFDs on forex, metals, indices, commodities, shares and cryptocurrencies, plus US stocks
Spot forex, plus forex, index, metal and share CFDs (CFDs not offered to US or Canadian residents)
Demo account
Yes
Yes
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank wire
  • Visa card
  • Cryptocurrency
  • Bank transfer
Withdrawal fee
No HYCM fee; your bank may charge. Profits are withdrawn by wire transfer only
Not yet checked
Inactivity fee
Not yet checked
None

Support

Customer support
Live chat and online help centre
Phone, chat and secure message support, by region

Our notes

Strengths
  • 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
  • Licensed in the US, Canada, UK, Ireland, Australia and Singapore, all strict regulators
  • Spot forex priced at the quoted interbank spread plus a published commission (0.20 basis points of trade value at the first tier)
  • No account minimum and no inactivity fee
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
  • Spot forex commission has a minimum of USD 2.00 per order, so very small trades cost more in percentage terms.
  • UK accounts are cleared and carried by Interactive Brokers LLC in the US for most products; IBKR says products are only covered by the UK FSCS in limited circumstances.
  • Margin accounts can go negative; IBKR's own disclosures say losses may exceed your original investment
  • IBKR also names companies in Hong Kong, Japan and India; we did not confirm those licences on 2026-10-20 and this profile does not cover them.

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • HYCM: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.
  • Interactive Brokers: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58.9% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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