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HYCM Review

Item: HYCM (Henyep)
Rating: 4

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer

May 24, 2023

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 and a proprietary mobile app. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central. That said, HYCM offers a narrow range of symbols to forex and CFD traders.

Overall

Minimum Deposit: $100
Trust Score: 86
Tradeable Symbols (Total): 362

HYCM pros & cons

thumb_up_off_alt Pros

The HYCM Trader mobile app supports full trading capabilities.
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).

thumb_down_off_alt Cons

Cryptocurrency CFDs are only available through its offshore entities (Cayman Islands and SVG).
While educational content has improved, it is still limited compared to what's available from the best brokers in that category.
Though improvements have been made to its offering, research at HYCM falls behind industry leaders.

Overall Summary

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

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Is HYCM safe?

Trust Score

HYCM is considered trusted, 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)
Year Founded	1977
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	2
Tier-2 Licenses	2
Tier-3 Licenses	1

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HYCM MT5 mobile trading contract specifications

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HYCM MT5 mobile trading app economic calendar

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HYCM MT5 mobile trading app news headlines

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HYCM YouTube channel market research video playlist

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2023 Review Methodology

At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

Read our full explanation and accounting of our research and testing process to learn more about how we test.

ForexBrokers.com 2023 Annual Awards

For the ForexBrokers.com 2023 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Offering of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.

ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. To see the complete list of Industry Award winners (and to learn more about our Annual Awards from our Director of Online Broker Research, Steven Hatzakis), check out our ForexBrokers.com Annual Awards page.

Primary categories

HYCM (Henyep)	Overall Rating	Offering of Investments	Commissions & Fees	Platforms & Tools	Research	Education	Mobile Trading Apps	Trust Score
Rating								86
Rank #1
Streak #1
Best in Class
Best in Class Streak

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 Editorial Team

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 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 Bachelor’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.

Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.