HYCM

Is HYCM safe and legit？ Full review

HYCM is a United Kingdom–based broker that has been operating since 2001 and is regulated by the Financial Conduct Authority, though two of its former licenses — with CySEC and CIMA — are now recorded as revoked, and nine regulatory disclosures are on file. The broker offers three account types with a minimum deposit of only $20 and maximum leverage of 1:500, with hedging and scalping supported across the board and EA trading available on two of the three accounts. Trading is available through self-developed software as well as MT4 and MT5, both under full license, with mobile apps for Android and iOS; the overall software experience is rated Fair, and desktop, web, and other application types are not supported. Customer service covers 11 languages and 2 regions through phone, email, and social channels, though response times may be lengthy. Its influence rating is B, with an average influence index of 6.25.

Basic Information

Regulatory Compliance and Security

HYCM is regulated by the Financial Conduct Authority in the United Kingdom, while its registrations with the Cyprus Securities and Exchange Commission and the Cayman Islands Monetary Authority are both recorded as revoked. The broker carries a safety level of Level 3 and has a total of 9 regulatory disclosures, including two revoked statuses.

Account Type

HYCM offers 3 types of accounts:

Trading software

HYCM uses self-developed software along with the MT4 and MT5 platforms (both under full license), and supports a Mobile App. The MT5 platform is highly customizable, available in multiple languages, and offers clear expense reports, though it lacks two-step login and biometric authentication. The software experience is rated as Fair, and Windows, MacOS, Web, and other application types are not supported.

MT4/5 Server Distribution:

• MT5 Servers: HYCM-Live (United Arab Emirates), HYCM-Live (Cyprus), HYCM-Live (China)
• MT4 Servers: HYCM-Live (United Kingdom), HYCM-Live (China), HYCM-Live (Cyprus), HYCM-Demo (Cyprus), HYCM-Demo (China), HYCM-Demo (Singapore)

Mobile Support:

• Android: HYCM Trader, HYCM Xingye Investment
• iOS: HYCM Trader, HYCM Xingye Investment

Customer Service

HYCM's customer service supports 11 languages across 2 regions. You can reach the team by phone, email, and social media or messaging channels for answers to most inquiries; however, please note that response times may be lengthy.

⚠️ Note: Most users can receive a response, but the waiting time is relatively long.

Influence

Influence Rating: B. Key influence distribution regions include the United Arab Emirates, Australia, Bangladesh, Brazil, Canada, Germany, Egypt, Spain, France, and the United Kingdom. Average Influence Index: 6.25.