What We Tested
- Account type: Raw Account ($500 starting balance for test)
- Platform: MT5 Desktop
- Trading period: 4 months, 100 trades executed
- Pairs tested: EURUSD, USDJPY, Gold
- Withdrawal tests: 2 successful (Credit Card, Skrill)
- Support tests: 4 inquiries via live chat
Testing focused on the $4 RT commission on the Raw Account. We also checked execution quality under the broker’s Market Maker model.
Regulation & Safety
HYCM gains from its parent group's long history. It is regulated by several Tier-1 and Tier-2 authorities:
- FCA (UK) – Tier-1 regulator. Client money covered up to £85,000 by the FSCS.
- CySEC (Cyprus) – Tier-2 regulator. Client money covered up to €20,000 by the ICF.
- DFSA (Dubai) – Tier-2 regulator, covering the Middle East arm only.
- CIMA (Cayman Islands) – Global entity with higher leverage.
How licences work and what offshore routing changes: Offshore Brokers: Jurisdiction Risk · How Regulated Brokers Scam Legally
Spreads & Execution
| Pair/Asset | Raw Avg Spread | Classic Avg Spread | Commission (Raw) |
|---|---|---|---|
| EUR/USD | 0.2 pips | 1.2 pips | $4.00/lot RT |
| GBP/USD | 0.5 pips | 1.6 pips | $0 |
| EUR/USD (Fixed) | 1.8 pips | N/A | $0 |
Raw Account is ECN-style with commission. Classic/Fixed accounts are commission-free with markup.
Execution Model and Quality
- Execution Model: Market Maker (Hybrid DD)
- Raw Execution Speed: Ultra-fast (~12ms average execution speed).
- Requotes: Low occurrence on Variable Spread accounts.
- Slippage: Minimal. Execution is predictable.
The execution speed is highly reliable and competitive, even with the Market Maker model behind it. Raw Account execution feels like NDD/STP.
What sits behind these execution numbers: Slippage and Latency · Anatomy of an Order · Trading terms glossary
Institutional Longevity (Since 1977)
HYCM's link to the Henyep Group, active since 1977, gives it an extreme level of trust and stability:
- 40+ Years: Decades in various financial markets, far longer than most retail brokers.
- Institutional Stability: A long history implies deep financial stability and adherence to high compliance standards.
For long-term investors and large capital, this track record is a strong reassurance of safety and reliability.
Account Types & Fees
Raw-spread account
- Min deposit: $200
- Spreads: From 0.2 pips
- Commission: $4.00/lot RT
- Best for: Scalpers and EAs.
Standard-type account
- Min deposit: $100
- Spreads: From 1.2 pips
- Commission: $0
- Best for: General traders and simplicity.
Standard-type account (from $100)
- Min deposit: $100
- Spreads: Fixed 1.8 pips
- Commission: $0
- Best for: Volatility hedging and guaranteed spreads.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: $0 (all methods)
- Inactivity fee: $10/month after 90 days of inactivity.
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
HYCM gives reliable, zero-fee funding, but the inactivity fee period is short:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $300 | 1 business day | $0 | Return to source policy. |
| Bank Wire | $1,000 | 2-5 business days | $0 | Broker covers fees. |
| Skrill/Neteller | $200 | Same day (4 hours) | $0 | Fastest methods tested. |
How payout problems start at weaker brokers: Withdrawal Blocking Patterns
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
- HYCM Trader: In-house mobile trading app (built for ease of use).
- Tools: Dedicated market analysis and educational resources.
Our Take: Platform support is robust (MT4/MT5). HYCM focuses on reliability over platform innovation.
Customer Support (Tested)
HYCM offers 24/5 support in many languages:
- Live Chat: 24/5, quick replies, professional staff.
- Phone Support: Dedicated global lines (high quality).
- Quality: Customer service is very experienced, thanks to the firm's longevity. Agents give detailed answers to complex questions.
24/5 support is reliable and well informed, as you would expect from a Tier-1 regulated firm.
PROS
- Exceptional longevity (Henyep Group since 1977).
- Strong Regulation: Tier-1 FCA, Tier-2 CySEC.
- Raw Account offers very low commission ($4.00 RT).
- Nothing charged to put money in or take it out.
- Multiple account types (Fixed, Classic, Raw) cater to different needs.
CONS
- Inactivity fee applies after a short 90-day period ($10/month).
- Operates as a Market Maker (conflict of interest).
- Fixed/Classic accounts have wide spreads (1.8 pips min).
- Limited in-house research and market analysis.
Who Is HYCM For?
- Great fit: Traders who want maximum longevity and safety from a veteran firm (FCA/CySEC). Low-volume scalpers who gain from the $4 RT commission.
- Good fit: Traders who want reliable fixed-spread options for specific volatility strategies.
- Not ideal: Traders who plan to be inactive, because of the 90-day inactivity fee. Also high-volume ECN users who need guaranteed A-Book execution.
Final Verdict
HYCM is a stable, veteran broker, built on four decades of institutional experience. Its core value is the high level of safety from its FCA and CySEC licenses.
The Raw Account is where the value sits, with a competitive $4.00 RT commission. That puts its costs level with industry leaders for low-volume ECN trading.
The main drawback is the Market Maker model. Second is the 90-day trigger for the inactivity fee, which penalises casual traders.
How this score is calculated: Our testing methodology