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HYCM Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

Published January 10, 2022
Last modified September 12, 2022
CFDs 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.

HYCM (Henyep)
starstarstarstarstar_border Overall
  • Minimum Initial Deposit: $100
  • Trust Score: 86
  • Tradeable Symbols (Total): 245

HYCM pros & cons

thumb_up_off_alt Pros

  • 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) โ€” earning HYCM a Best in Class ranking for Commissions & Fees in our 2022 Annual Review.

thumb_down_off_alt Cons

  • 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 โ€” it doesn't support trading (only used for client portal and analysis).

Overall Summary

Feature HYCM (Henyep) logoHYCM (Henyep)
Overall Rating starstarstarstarstar_border
Trust Score 86
Offering of Investments starstarstarstar_borderstar_border
Commissions & Fees starstarstarstarstar
Platform & Tools starstarstarstarstar_border
Research starstarstarstarstar_border
Mobile Trading starstarstarstarstar_border
Education starstarstarstar_borderstar_border

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.

Is HYCM safe?

Trust Score
86
ForexBrokers.com

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.


Feature HYCM (Henyep) logoHYCM (Henyep)
Year Founded 1977
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 2
Tier-2 Licenses 2
Tier-3 Licenses 1

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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About the Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelorโ€™s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.


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