HYCM ReviewCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail CFD accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
HYCM is a trusted brand that offers a straightforward MetaTrader platform experience. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central as well as exchange-traded securities (available through a separate platform). That said, HYCM offers a narrow range of symbols to forex and CFD traders.
Minimum Initial Deposit:
Tradeable Symbols (Total):
HYCM pros & cons
- Offers at least 20 video courses from MTE-Media that are grouped by experience level.
- HYCM's YouTube channel offers a catalog of webinars.
- Access to third-party research modules from Trading Central (Analyst Views, and Economic Calendar).
- Streaming forex news headlines via the MetaTrader platform suite.
- Exchange-traded securities (non-CFD) are available through separate platform Henyep Securities.
- HYCM's Raw account has competitive pricing, with an all-in cost of about 0.6 pips for the EUR/USD (after commission) — earning HYCM a Best in Class ranking for Commissions & Fees in our 2022 Annual Review.
- Cryptocurrency CFDs are only available through its offshore entities (Cayman Islands and SVG).
- Educational content has a lack of written material.
- Though improvements have been made to its offering, research at HYCM falls behind industry leaders.
- HYCM's proprietary mobile app functions as a client portal — it doesn't support trading (only used for client portal and analysis).
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Is HYCM safe?
HYCM is considered average-risk, with an overall Trust Score of 86 out of 99. HYCM is not publicly traded, does operate a bank, and is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). HYCM is authorised by the following tier-1 regulators: Securities Futures Commission (SFC) and the Financial Conduct Authority (FCA). Learn more about Trust Score.
|Publicly Traded (Listed)||No|
2022 Review Methodology
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
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