Trading Accounts
| Account type | Minimum deposit | Minimum trade size | Maximum leverage | Spreads |
| Fixed | $100 | 0.01 | 1:200 | 1.8 pips, fixed |
| Classic | $100 | 0.01 | 1:200 | from 1.2 pips |
| Raw | $200 | 0.01 | 1:200 | from 0.2 pips + $4 /lot |
Besides, clients of HYCM who don’t want to earn interest for religious reasons may opt for Islamic accounts, which are swap-free.
The Company
| Company | Country | Regulation |
| Henyep Capital Markets (UK) Limited | UK | FCA |
| HYCM (Europe) Ltd. | Cyprus | CySEC |
| Henyep Securities Limited | Hong Kong | SFC |
HYCM is part of the Henyep Group, a global conglomerate with various business activities spanning 3 continents and 20 countries world-wide.
Set up 35 years ago, the Henyep Group is a global conglomerate with various business activities spanning 3 continents and 20 countries world-wide. It operates out of its offices in London, Dubai, Hong Kong, Kuwait and Cyprus.
Security of Funds
HYCM is operated by Henyep Capital Markets UK Ltd., a London-based company authorised and regulated by the UK Financial Conduct Authority (FCA). Besides, it has a Cypriot unit, regulated by the CySEC, and a subsidiary based in Hong Kong, that is duly licensed by the local regulator – the SFC.
UK’s financial watchdog is famous for applying strict requirements to brokerage firms. Licensed companies are required to comply with certain rules and procedures covering client funds, order execution, minimum capital requirement, regular report filing, etc. UK-based brokers are obliged to hold at least €730 000 in order to prove their financial stability. The same minimum capital requirement applies to Cypriot brokerages.
In relation to security of clients` funds, we would also like mention that FCA-regulated companies fall under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person, in case the company goes bankrupt. In Cyprus, the coverage is up to $20 000 per investor.
Trading Conditions
Minimum Initial Deposit
Traders are required to deposit just $100 in order to open an account with HYCM, which is an average minimum initial amount. However, other EU brokerages require less – XM, for example, which also holds licenses from both CySEC & FCA, demands $5.
Average Spreads & Commissions
HYCM offers both fixed and variable. Fixed spreads are generally wider than variable ones, but offer traders a more predictable trading environment and protects them from wild spread swings which usually happen during news releases.
In fact, the spreads offered by HYCM are quite competitive. Fixed ones amount to 1.8 pips on EUR/USD while most fixed-spread brokers offer 2 – 3 pips in spread. Variable spreads on the Classic accounts are also competitive, but the trading costs on Raw account types are the lowest and the most attractive.
Leverage
The maximum leverage levels with HYCM reach 1:200, which is a reasonable ratio. However, many other brokers provide similar or higher levels: XM, for instance, offers leverage up to 1:888.
Nonetheless, keep in mind that leverage is a double-sided coin: higher leverage involves higher risk, not only the probability of multiplied profits earned on a small deposit.
Trading Platforms
HYCM offers two trading platforms: its in-house web-based PrimeTrader and the renown MetaTrader 4.
PrimeTrader is a new multi-asset web platform with user-friendly interface and provides integrated multiple pricing, advanced charts and complete online account management. Guaranteed Stop/Loss are available.
The MT4 is also supported by this broker, desktop, and mobile versions being offered. This platform is preferred by most traders, because it allows clients to fully automate their trades by Expert Advisors (EA) and let the program do all the work. What is more, it offers a number of technical indicators and advanced charting package.
MT4 allows trading signals, but HYCM has partnered with Pro Daily which brings investors cutting-edge signals trading service.
Promotions
HYCM offers a welcome on-deposit bonus of 10% (up to $5000) to all live account holders with deposits of at least $500. For every $1,000 bonus awarded, clients will be required to trade 30 standard lots within 60 days. The broker also offers a Refer-a-friend scheme. Depending on the amount of the initial deposit of the referred client, the referrer can get up to $250.
HYCM`s clients are able to make deposits and withdrawals via credit/debit cards (Visa or Mastercard), wire transfer, Skrill and WebMoney.
HYCM offers trade accounts with base currencies in USD and EUR. Deposits are also accepted in KWD, SAR and AED and will be converted to USD for trading.
Conclusion
Being part of a large international group with more than 30 years of experience in the industry, HYCM is a reliable broker with strong regulation. To sum things up, here are the advantages and drawbacks with regards to HYCM
| Pros | Cons |
| Strong regulation | No significant disadvantages |
| Competitive fixed spreads | |
| MT4 supported | |
| Bonuses available | |
| Reasonable leverag elevels |