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HYCM (Henyep Capital Markets) Review 2024

Written by
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

May 30, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

Our review of HYCM (Henyep Capital Markets) indicates that it is a solid choice for traders focusing on forex and CFDs. As we dissected the features and offerings, it became clear that this broker, established in 1977, remains a competitive option within the industry.

Overall Rating

7.9 / 10

Minimum Deposit


Trust Score info


Pros and Cons

thumb_up_off_alt Pros

  • Wide Range of Platforms: HYCM offers MetaTrader 4, MetaTrader 5, and its own proprietary platform, accommodating a variety of trading preferences.
  • Competitive Fees: The broker offers a lower than average spread on EUR/USD and provides VIP discounts, making it attractive cost-wise.
  • Decent Video Courses: Offers a range of video courses and webinars, useful for beginners.

thumb_down_off_alt Cons

  • Limited Copy Trading: Does not offer copy trading, which might be a drawback for some users.
  • No Advanced Education: Lacks advanced educational videos, which might not cater to more experienced traders seeking to deepen their knowledge.
  • Limited Forex Pairs: Offers only 70 forex pairs, which is less than other industry-leading competitors.

Ratings Summary

  • Investment Types - 7.5/10
  • Commissions & Fees - 8.5/10
  • Trading platforms - 7.5/10
  • Research - 7.5/10
  • Mobile Apps - 7.5/10
  • Education - 7.0/10
  • Overall - 7.9/10

Can I trust HYCM (Henyep Capital Markets)?

You can trust HYCM as it is a MiFID regulated and FCA authorised broker. It maintains a reliable trust score of 88, classifying it as "Trusted" according to

HYCM (Henyep Capital Markets) is currently licensed and/or authorised by the following regulatory bodies:

Is HYCM (Henyep Capital Markets) good for beginners?

HYCM is a suitable option for beginners, thanks to its offerings of beginner education videos and a dedicated platform for basic learning. However, it might not be the best choice compared to industry leaders in this category.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Education (Forex or CFDs) info No
Client Webinars info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info No
Investor Dictionary (Glossary) info Yes

HYCM (Henyep Capital Markets) commissions and fees summary

Our analysis shows that HYCM is a very attractive choice for cost-conscious traders. It offers competitive fees with a EUR/USD spread significantly below the industry average of 1.08 and has benefits for active or VIP traders.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Minimum Deposit info $20
Average Spread EUR/USD - Mini info 1.8 info
Average Spread EUR/USD - Standard info 0.6 info
All-in Cost EUR/USD - Active info 0.6 info
Active Trader or VIP Discounts info Yes

HYCM (Henyep Capital Markets) trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

HYCM provides a comprehensive range of trading platforms and tools. The broker supports both MetaTrader 4 and MetaTrader 5, along with a proprietary platform, offering flexibility to traders of all levels. The available trading tools and features are substantial, though copy trading is not supported. HYCM’s platforms and tools are sufficient for most traders' needs, according to industry standards.

Trading platforms offered: HYCM includes MetaTrader 4, MetaTrader 5, and a proprietary platform.

Trading tools: The broker offers advanced tools across its platforms, aiding in effective trading.

Copy trading: HYCM does not provide copy trading services.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Virtual Trading (Demo) info Yes
Proprietary Platform info Yes
Desktop Platform (Windows) info Yes
Web Platform info Yes
MetaTrader 4 (MT4) info Yes
MetaTrader 5 (MT5) info Yes
DupliTrade info No

HYCM (Henyep Capital Markets) trading platform screenshots

Mobile trading apps at HYCM (Henyep Capital Markets)

HYCM offers competent mobile trading applications that align well with the functionalities of its desktop platforms. The apps are well-suited for traders who require mobility without sacrificing the core features necessary for effective trading. The performance and utility of HYCM’s mobile apps are commendable, though they are not the top-rated in the market.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Android App info Yes
Apple iOS App info Yes
Mobile Economic Calendar info Yes
Mobile Alerts - Basic Fields info Yes
Mobile Charting - Draw Trendlines info Yes
Mobile Watchlist info Yes

HYCM (Henyep Capital Markets) mobile app screenshots

How do I open an account with HYCM (Henyep Capital Markets)?

  1. Visit the HYCM website and click on the 'Open Account' button.
  2. Fill in the registration form with your personal details, including name, email, and phone number.
  3. Complete the KYC (Know Your Customer) process by providing proof of identity and address, such as a passport and a recent utility bill.
  4. Deposit funds into your account using one of the accepted methods.
  5. Once your account is verified and funded, you can start trading.

What can I trade at HYCM (Henyep Capital Markets)?

At HYCM, traders have access to a diverse range of markets, including 70 forex pairs and a total of 1,199 tradeable symbols. When compared to the industry average of 3,623 tradeable symbols, HYCM offers fewer options but covers the most popular and liquid markets. This selection is suitable for traders focusing on major and some exotic currency pairs, alongside various CFDs.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Tradeable Symbols (Total) info 1199
Forex Pairs (Total) info 70
Social Trading / Copy Trading info No
Cryptocurrency (Physical) info No
Cryptocurrency (Derivative) info Yes
Spread Betting info No

HYCM (Henyep Capital Markets) research screenshots

Account funding at HYCM (Henyep Capital Markets)

HYCM provides various funding options to accommodate different trader needs. Traders can use Bank Wires, Neteller, Credit Cards, and Skrill eWallet for both deposits and withdrawals. However, PayPal is not supported. This variety ensures that most traders can fund their accounts conveniently and securely.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info Yes
Neteller (Deposit/Withdraw) info Yes

About HYCM (Henyep Capital Markets)

HYCM (Henyep Capital Markets) is a well-established broker with a history dating back to 1977. As a part of the Henyep Group, HYCM has built a solid reputation in the financial services industry, offering trading in forex and CFDs. The broker emphasizes regulatory compliance, being authorized by significant regulators including the FCA in the UK. This long-standing history and regulatory framework make HYCM a reliable choice for traders looking for stability and a range of trading options.

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At, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

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We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and 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. Learn more about foreign exchange risk.

About the Editorial Team provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for and 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).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for and 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.

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at and Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.