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Head to head

HYCM vs XM

HYCM is licensed by FCA in the United Kingdom and DFSA in the United Arab Emirates (DIFC). XM is licensed by CySEC in the European Union, DFSA in the United Arab Emirates (DIFC) and FSCA in South Africa. 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 $5 at XM. Both offer negative balance protection and segregated client money.

Facts last checked: HYCM on 20 October 2026, XM on 20 October 2026.

HYCM profileXM 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
XMStrictly regulatedRead the profile
Comparing
HYCMUnited Kingdom
XMEuropean Union

Overview

Founded
Not yet checked
2009
Headquarters
London, United Kingdom
Not yet checked
Official websites
  • hycm.com
  • hycm.co.uk
  • xm.com
  • trading-point.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
HYCM Capital Markets (UK) Limited
Trading Point of Financial Instruments Ltd
Regulator
FCA
United Kingdom
CySEC
European Union
Regulation level
Strictly regulated
Strictly regulated
Licence number
186171
Check the register
120/10
Check the register
Clients this company serves
UK residents
Residents of EU and EEA countries (CySEC lists xm.com and trading-point.com as its approved domains)
All licences held
  • FCA (United Kingdom)
  • DFSA (United Arab Emirates (DIFC))
  • CySEC (European Union)
  • DFSA (United Arab Emirates (DIFC))
  • FSCA (South Africa)
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
FSCS for eligible clients of HYCM Capital Markets (UK) Limited only
ICF (Cyprus) for eligible clients of Trading Point of Financial Instruments Ltd; none named for XM Global Limited

Costs

Your monthly cost
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Cost per lot (EUR/USD)
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Spread from
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Typical EUR/USD spread
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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
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs for FCA retail clients; up to 1:500 at the Costa Rica company
Up to 1:1000 (XM Global Limited); EU retail clients are limited to 1:30 on major pairs
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)
Not yet checked
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
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Base currencies
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Execution
No accounts listed
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Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • HYCM Trader app
  • Web Trader
  • MetaTrader 4
  • MetaTrader 5
  • XM App
Markets
300+ CFDs on forex, metals, indices, commodities, shares and cryptocurrencies, plus US stocks
Currency pairs, indices, commodities and share CFDs; real shares on the Shares account
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Yes
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
Not yet checked
Withdrawal fee
No HYCM fee; your bank may charge. Profits are withdrawn by wire transfer only
Not yet checked
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
Live chat and online help centre
Not yet checked

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
  • Low minimum deposit of $5 on the Standard and Ultra Low accounts
  • Negative balance protection on all accounts, according to XM's account page
  • EU clients can contract with a CySEC-licensed company (licence 120/10)
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
  • XM's global site names XM Global Limited, which it says is regulated by the FSC of Belize (licence 8557558). We could not confirm this licence on the Belize FSC's online register on 2026-10-20, so we do not list it.
  • Leverage of up to 1:1000 on the global site magnifies losses as much as gains
  • The Standard account is marketed with deposit bonuses; read the bonus terms before you accept one
  • XM no longer holds a UK licence (the FCA register shows its passport as cancelled) and its former Australian company now trades as Trading.com Markets

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.
  • XM: Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital.

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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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