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Head to head

HYCM vs XS.com

HYCM is licensed by FCA in the United Kingdom and DFSA in the United Arab Emirates (DIFC). XS.com is licensed by CySEC in the European Union, ASIC in Australia and Labuan FSA in Malaysia (Labuan), and also has an offshore registration. 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 XS.com. Both offer negative balance protection and segregated client money.

Facts last checked: HYCM on 20 October 2026, XS.com on 20 October 2026.

HYCM profileXS.com 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
XS.comOffshore registration onlyRead the profile
Comparing
HYCMUnited Kingdom
XS.comInternational

Overview

Founded
Not yet checked
Not yet checked
Headquarters
London, United Kingdom
Eden Island, Seychelles (group companies in Cyprus, Australia, Malaysia and elsewhere)
Official websites
  • hycm.com
  • hycm.co.uk
  • xs.com
  • xsmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
HYCM Capital Markets (UK) Limited
XS Ltd
Regulator
FCA
United Kingdom
FSA Seychelles
International
Regulation level
Strictly regulated
Offshore registration only
Licence number
186171
Check the register
SD089 (Securities Dealer)
Check the register
Clients this company serves
UK residents
Clients who open an account through xs.com
All licences held
  • FCA (United Kingdom)
  • DFSA (United Arab Emirates (DIFC))
  • FSA Seychelles (International)
  • CySEC (European Union)
  • ASIC (Australia)
  • Labuan FSA (Malaysia (Labuan))
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
FSCS for eligible clients of HYCM Capital Markets (UK) Limited only
None for clients of XS Ltd (Seychelles); EU clients of XS Markets Ltd are covered by Cyprus's Investor Compensation Fund

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
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 1:2000 (XS Ltd, dynamic); 1:30 on major pairs for EU retail clients
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
40%
Stop-out level
50% (HYCM may start closing positions from 55%)
20%

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
  • MetaTrader 4
  • MetaTrader 5
  • XS Trading App
Markets
300+ CFDs on forex, metals, indices, commodities, shares and cryptocurrencies, plus US stocks
CFDs on forex, metals, energies, indices, cryptocurrencies, futures and shares
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
  • Bank transfer
  • Visa and Mastercard
  • Skrill
  • Neteller
Withdrawal fee
No HYCM fee; your bank may charge. Profits are withdrawn by wire transfer only
No XS fee; a fee of up to 3% can apply where there was no trading or abusive trading
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
Live chat and online help centre
Email support@xs.com and phone +248 432 3314

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
  • Group companies licensed by CySEC (412/22), ASIC (374409) and Labuan FSA, all checked on the regulators' registers
  • Negative balance protection and segregated client accounts are in the XS Ltd client agreement
  • No minimum deposit on Standard, Cent and Micro accounts, and published average EUR/USD spreads for each account
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
  • Clients of xs.com join XS Ltd in Seychelles, an offshore licence with leverage up to 1:2000 and no compensation scheme
  • The ASIC licence covers wholesale clients only, and the CySEC company serves the EU through a different website
  • Says group companies hold licences from the FSCA (FSP 53199), FSC Mauritius (GB25204786), the UAE Capital Market Authority (20200000339) and Kuwait (513918); we could not confirm these on the regulators' registers on 2026-10-20 (FSCA and FSC sites unreachable, UAE and Kuwait not checked).

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.
  • XS.com: Our products are traded on margin and carry a high level of risk and 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.

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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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