Contributor, Benzinga
December 14, 2023
HYCM Capital Markets
Overall Rating:
securely through HYCM Capital Markets's website

HYCM is 1 of the world’s leading forex brokers, offering investors access to over 69 unique currency pairs. However, forex isn’t the only thing the broker offers — HYCM also offers high rates of leverage, stock and ETF trading, commodity investing and much more. Getting started with HYCM is quick and easy, and most investors can open an account in as little as 10 minutes.

HYCM offers a varying fee structure, which allows investors to choose the spread option that’s best for them. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders. Though HYCM isn’t currently available in the United States, it can be a great choice for residents of the other 140 countries where it offers service. 

Best For
  • Investors who want a customizable fee schedule
  • Traders comfortable using the MetaTrader platform
  • Islamic traders who need swap-free accounts that don’t build interest
  • Mobile app with a simple trading experience
  • Wide range of currency pairs available
  • Excellent selection of educational tools
  • Not currently available to traders based in the U.S.

HYCM Capital Markets Ratings at a Glance

HYCM Fees, Commissions, Margin Rates and Account Minimums
HYCM Usability
HYCM Education
HYCM Customer Support
HYCM Offerings
HYCM Overall Rating

HYCM is a broker that appeals to many types of traders. For instance, the brokerage offers multiple types of accounts that appeal to different types of traders, and offers a lot of educational material for those who want to learn more about the market. If you've considered HYCM Capital Markets as a brokerage you want to use for expert advice, trading services and a range of asset classes, check out Benzinga's HYCM review.

Why HYCM Over Others?  

Who benefits the most from HYCM’s brokerage? If any of the following describe you or your trading style, this company might be the right choice for you:

  • Investors with varying fee needs. HYCM understands that fees aren’t a 1-size-fits-all matter. The brokerage offers 3 account levels with varying fee structures that you can customize to fit your risk tolerance and frequency of trades.  
  • Traders looking for comprehensive educational resources. HYCM offers a complete range of education and research tools to enhance your trading and learn more about how the world’s major markets move. Tune in with live webinars, take 1 of HYCM’s ebooks on the road with you while you travel, explore upcoming market events and their anticipated volatility and more for free with HYCM.
  • Islamic traders looking for religion-compliant accounts. HYCM offers swap-free accounts that do not accrue interest for each of its fee types. This allows Islamic investors to trade freely without worrying about being in conflict with their religious laws. 

Brokerage Quick Summary 

Tradable assetsStocks, forex, indexes, cryptocurrencies and commodities
PlatformComprehensive; over 300 indicators
Also supports MetaTrader 4 and 5
HYCM Trader App
Mobile appMetaTrader 4 app available; no proprietary mobile app 
Account minimumMinimum deposit varies depending on your type of account; between 0 and 0
Available account typesFixed spread, classic floating spread, raw spread accounts available 

HYCM Fees, Commissions, Margin Rates and Account Minimums

HYCM’s primary trading products are forex currencies, gold and oil, which means that commission works a bit differently than most brokers that trade primarily in stocks. Instead of charging a flat-rate fee, forex brokers typically charge a spread between the bid price and the ask price of a currency.

When you invest in the forex market, you’ll typically see 2 prices listed: a bid price and an “ask” price. The bid price is the highest price that a buyer will pay for any unit of currency, while the ask price is the lowest price a currency holder will accept for a unit of the currency being bought. The difference between these prices is the spread, which goes directly to your broker in exchange for servicing your trade.

HYCM offers 3 levels of spreads. The right account for you will vary depending on when you trade, your base currency and whether or not you use an electronic advisor (EA) to assist your trades.

  • Fixed spreads: Fix spread accounts have a set spread range and no commissions. Fixed spreads are set by the broker and are unlikely to change as market conditions fluctuate. Spreads on fixed accounts start from 1.5 pips.
  • Variable spreads: Variable spreads have a varying spread range and no commissions. Spreads on variable accounts begin at 1.2 pips but may change more frequently.
  • Raw spreads: Raw spread accounts pay the pure difference between the bid and the ask price plus $4 per round. Spreads on raw accounts start from 0.1 pips but may change very quickly throughout the day.

The HYCM broker platform also allows you to use leverage to trade. Leverage is a type of margin trading that allows you to compound your buying power in order to take more profits from your trades. Traders can access up to 500:1 leverage (not available for the EU or UK) through HYCM depending on where you live and which currency pair you’re trading.

Account minimums with HYCM may vary depending on your base currency and the type of account you open. You should have at least $100 to $200 minimum deposit ready before you open an account. Deposit methods include credit card, debit card, bank wire and Skrill.

HYCM Usability

HYCM does an excellent job of making forex trading easier and more accessible, and the broker offers a very wide range of tools that both beginner traders and corporate investors will love. Let’s take a look at a few of our favorite easy-to-use features available for a forex trader like yourself.

  • Account type comparison quiz: For a beginner trader, it can be tough to determine which type of spread will cost you the least amount of money. If you aren’t sure which type of account is right for you, use HYCM’s simple account types comparison quiz. Answer 5 questions about how you trade and your trading needs and HYCM’s system will recommend an account type for you.
  • Margin and currency calculators: Forex values can change at a moment’s notice. HYCM offers a variety of calculators that you can use to quickly determine how much you’ll pay in a spread and how much your current lot is worth. Flip between calculators with a single click to keep yourself focused and your trading on-track.
  • 5 base currencies available: Traders who choose HYCM can choose between 5 base currencies: USD, EUR, GBP, RUB and AED.
  • Quick and easy account opening process: Getting started with HYCM is easy — simply answer a few questions about where you live, how you’d like to fund your account and your contact preferences and get started in as little as 10 minutes.
  • $0 deposit and withdrawal fees: HYCM offers 8 deposit and withdrawal methods, each of which come with $0 fees on the vast majority of transactions. Minimum deposits and withdrawals are also as low as $20 for most money transfer methods. 

HYCM Education

HYCM offers a number of unique educational tools and calculators you can use to enhance your trading. Let’s take a look at a few of our favorite features below.

  • Economic calendar: If you’re a forex trader who primarily trades using a fundamental analysis-based strategy, you know having a finger on the pulse of international events is crucial. HYCM offers 1 of the most comprehensive international calendars we’ve seen, allowing you to sort by daily, weekly or monthly upcoming events. Each event also includes an estimated level of volatility for the base currency connected to the event, which allows you to plan your trades ahead of time. You can also filter news by country, date, the authority releasing the report and more.
  • Forex education center: If you’re a new trader, you’ll love HYCM’s forex education center, which includes a variety of free ebooks, videos and workshops you can use to enhance your trading. Some popular video lessons include “Trading Psychology,” “Types of Orders,” “Basic Technical Analysis” and more. There’s even a full course of videos explaining how to get started with the MetaTrader platform of your choice and how to use MetaTrader’s most popular features. All video lessons and tutorials are completely free, and you don’t need to already have an HYCM account to use them.
  • Webinars and online workshops: If you prefer to do your learning in a live environment, consider signing up for 1 of HYCM’s online webinars. Webinars are hosted on a weekly basis and include topics like the week ahead, planning your forex strategy in advance, live analyses of what is moving the value of the world’s currencies and more. Past webinars are also available on HYCM’s website, so you can watch them later if you aren’t able to make the session while it’s airing. 

HYCM Customer Support

HYCM offers a few different routes that customers can use to contact its support team. Assistance is available in a number of languages, which can be especially beneficial if your 1st language isn’t English.

  • Live chat: To contact HYCM using the live chat feature, visit HYCM’s website and click on the button labeled “Live Chat” in the top right-hand corner of the screen.
  • By phone: To contact HYCM by phone, call +442-08-816-7812.
  • Via WhatsApp: To contact customer service via WhatsApp, send a message to +357-972-5968.
  • By email: To contact HYCM via email, send a message to

Customer support is available 24 hours a day, 5 days a week. 

HYCM Offerings

HYCM offers 5 products: stocks, indices, forex, commodities and cryptocurrencies. Note that your access to each product may vary depending on where you live. 

HYCM Stocks and Index Funds 

HYCM currently allows traders to buy and sell individual shares of 60 of the world’s leading companies, including Coca Cola, Tesla,, Alibaba and more. You can also invest in 28 indexes. Leverage trading of up to 200:1 is available for index trading. Margin trading for stock purchases is available with rates beginning at 5%. 

HYCM Forex

HYCM’s primary product is forex currency trading. Choose from 69 individual currency pairs and take advantage of up to 200:1 leverage on many pairs. Margin rates begin at 0.50%, and you can choose to trade in 1 of 5 base currencies, no matter where you live and which currency your bank account uses. HYCM offers a variety of account types that allow you to customize your fee schedule to fit your unique trading style. Special swap-free accounts are available for Islamic traders who need an account that doesn’t accrue interest.  

HYCM Cryptocurrencies

HYCM offers traders access to 5 of the world’s most popular cryptocurrencies, and you can convert cryptocurrencies directly to fiat currency through HYCM’s platform. HYCM also offers leverage of up to 20:1 when trading cryptocurrencies. Please note that access to cryptocurrencies may vary depending on your location.

HYCM Commodities

Invest in precious metals and soft commodities like sugar and cotton using HYCM’s contract for difference (CFD) system. This system allows you to invest in these commodities and take advantage of price movements without actually owning the underlying commodity.  Keep in mind that you have the opportunity to learn about contracts for difference on this site before investing, meaning HYCM serves to protect the client and provide a safer platform for everyone.

HYCM Overall Rating

HYCM is an excellent choice for international traders looking for a 1-stop shop to get started investing. Its selection of varying account types is impressive — though new traders might have a bit of trouble determining which fee structure would be most beneficial for them, especially when tradings CFDs. HYCM is licensed and has received numerous awards over the course of its 40 years of experience.

We’d also love to see HYCM extend services to traders based in the United States. However, for now, HYCM remains a comprehensive choice for traders of all skill levels looking for affordable fees, high leverage availability and a choice of investment products. 


What does HYCM stand for?


HYCM stands for Henyep Capital Markets Limited.



Can I trust HYCM?


HYCM has an overall Trust Score of 86 out of 99. It is considered an average risk.


Is HYCM a regulated broker?


HYCM is a heavily regulated broker and has a long history of operations.

User Reviews

Kajetan Przybylski

How do you use this product to boost your finances?

Hycm educational tools are the best! Articles for beginners that are actually useful to read even for seasoned traders too. But their live events are something else. And they are regular. So submit to one of them and listen to the experts in this field


How do you use this product to boost your finances?

it was kinda dilemma for me to determine the account type for scalping. I chose classic one, because it has floating spreads, and it perfectly suits my plans! the main is to analyze precisely :D

Kevin Marini

How do you use this product to boost your finances?

it's a pretty interesting description of hycm services. I once tried out services of this broker and actually can state that everything was okay. several account types; negative balance protection, several trading platforms and many other features.


How do you use this product to boost your finances?

It has come to the notice of authorities that many unregulated companies are using clone websites to target citizens and hence it has issued a warning to all traders not to deal with any unregulated companies and not to be lured by their false propaganda

Dipa Simbolon

How do you use this product to boost your finances?

It’s good for manual trading and affiliate marketing.

Harry Lee

How do you use this product to boost your finances?

Great educational sector. A lot of useful information.


How do you use this product to boost your finances?

I also fell a victim to this scam broker. They kept on asking me to deposit more money. Then they stopped picking up my calls and doesn't reply my mails. After loosing more money. Finally I have gotten back all my lost fund and bonus from CFD stocks.They


How do you use this product to boost your finances?

I also fell a victim to this scam broker. They kept on asking me to deposit more money. Then they stopped picking up my calls and doesn't reply my mails. After loosing more money. Finally I have gotten back all my lost fund and bonus from CFD stocks.They

Robin Krause

How do you use this product to boost your finances?

detailed review of HYCM broker services. everything is described correctly.


How do you use this product to boost your finances?

Here you mentioned one downside – it’s unavailable for American traders. That’s not only con. Some broker’s branches offers small leverage for currencies, but it’s because of local regulation, but the broker is fine.

Submit Your One Minute Opinion

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About Sarah Horvath

Sarah Horvath is a seasoned financial writer with a specialization in investing content. With a keen eye for market trends and a deep understanding of investment strategies, Sarah delivers insightful and informative articles tailored to investors. Her dedication to providing valuable content empowers readers to make informed decisions in the dynamic world of finance. Sarah’s expertise extends across various investment vehicles, including stocks, bonds, cryptocurrencies, and real estate. Whether analyzing market movements, evaluating investment opportunities, or demystifying complex financial concepts, Sarah’s writing is characterized by clarity, accuracy, and actionable insights. Through her engaging content, Sarah strives to educate and guide investors on their journey towards financial success.