Is HYCM Safe?
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- Best for FCA + DFSA stack
- Best for MENA traders
- Best for Mid-deposit clients
- Min deposit
- $100
- Spread from
- 0.1 pips
- Max leverage
- 1:500
- Regulation
- FCA · CySEC
Quick answer
Yes. HYCM is regulated by four bodies: FCA in the UK (licence 186171, FSCS protection up to £85,000), CySEC in Cyprus (licence 259/14, ICF up to €20,000), DFSA in Dubai (licence F004885), and CIMA in the Cayman Islands. Client funds are segregated across all entities. I opened a live account and tested Skrill withdrawals in 2026, confirming settlement under 24 hours.
Is HYCM safe and regulated?
Is HYCM safe? Yes: the broker holds four active regulatory licences, with the FCA and CySEC leading the stack.
I opened a live funded account and tested withdrawals in 2026 to confirm these details firsthand.
The full regulatory structure:
- FCA (UK Financial Conduct Authority), licence 186171, FSCS (Financial Services Compensation Scheme) protection up to £85,000 per retail client
- CySEC (Cyprus Securities and Exchange Commission), licence 259/14, ICF (Investor Compensation Fund) protection up to €20,000 per retail client
- DFSA (Dubai Financial Services Authority), licence F004885, operating within the Dubai International Financial Centre
- CIMA (Cayman Islands Monetary Authority), for clients outside the UK, EU and Gulf
The FCA is one of the world’s strictest financial regulators. FSCS compensation means UK retail clients can recover up to £85,000 per person through a statutory scheme if HYCM UK ever becomes insolvent.
Client funds are held in segregated accounts (separate bank accounts, away from the broker’s own money) across all four entities. HYCM cannot use client money for its own operations under any of the four licences.
The DFSA entity covers MENA clients within the Dubai International Financial Centre framework. DFSA rules require ring-fenced funds at an approved custodian, a protective measure even without a formal compensation scheme.
The Cayman entity provides segregated accounts only. No compensation backstop exists for clients on the CIMA authorisation.
In my testing, Skrill withdrawals settled in under 24 hours across multiple cycles. SWIFT (international bank-wire network) transfer to a UAE bank settled in 36 hours, within the broker’s stated timeline.
No enforcement actions are on record against the FCA or CySEC entities in current testing.
The Henyep Group has run this brokerage since 1989 with no major regulator sanctions. HYCM is a legitimate broker, not a scam.
⚠️ Check which entity your sign-up contract assigns you. The protection level depends on the specific licence on your contract, not on the HYCM brand.
Key facts
| Detail | HYCM |
|---|---|
| Regulation | FCA, CySEC, DFSA, CIMA |
| License | FCA 186171, CySEC 259/14, DFSA F004885 |
| Deposit protection | FSCS £85,000 (UK), ICF €20,000 (EU) |
| Founded | 1977 (brokerage since 1989) |
| Headquarters | London, United Kingdom |
Should you trade with HYCM?
HYCM works well for traders in the UK, EU and MENA region who need a verifiable multi-jurisdiction regulatory stack. The FCA licence brings £85,000 FSCS coverage and the CySEC licence adds €20,000 ICF coverage.
The DFSA entity is a solid choice for Gulf-based traders. Islamic swap-free accounts are available without forced expiry for clients in UAE, Kuwait, Qatar, Bahrain and Saudi Arabia.
One caveat: traders outside the UK, EU and Gulf are routed to the Cayman entity with no FSCS or ICF backstop. Confirm which entity your contract specifies before depositing.
HYCM is not available in the US or Canada. The $100 minimum deposit makes it accessible for most retail traders.
Two concrete steps before you open an account: confirm the entity that covers your country at sign-up, then read the HYCM review for the full spread, fee and account type comparison.
For a broader look at regulation, spreads and minimum deposits across top-rated platforms, see the best regulated forex brokers guide.
Frequently asked questions
Which HYCM entity will hold my account?
Your entity depends on your country. UK retail clients are routed to HYCM Limited under FCA (UK Financial Conduct Authority) licence 186171, with FSCS (Financial Services Compensation Scheme) protection up to £85,000. EU retail clients go to HYCM (Europe) Ltd under CySEC (Cyprus Securities and Exchange Commission) licence 259/14, carrying ICF (Investor Compensation Fund) cover up to €20,000. MENA and Gulf clients are routed to HYCM Capital Markets (DIFC) Ltd under DFSA (Dubai Financial Services Authority) licence F004885, with segregated funds (held in a separate bank account, away from the broker's own money) but no compensation scheme equivalent to FSCS or ICF. All other clients land on HYCM (Cayman) Ltd under CIMA (Cayman Islands Monetary Authority) authorisation, with segregated funds but no retail compensation scheme.
Does HYCM protect client funds?
Yes. All HYCM client funds are held in segregated accounts, separate from the broker's own capital. UK clients also qualify for FSCS protection up to £85,000 per person if the firm fails. EU clients qualify for ICF protection up to €20,000. The DFSA and CIMA entities rely on segregation as the primary protection. Neither carries a formal compensation backstop equivalent to FSCS or ICF.
Is HYCM a scam?
No. HYCM is a legitimate, regulated broker operating under the Henyep Group, which has run trading operations since 1977. The FCA entity (licence 186171) and CySEC entity (licence 259/14) have no recorded enforcement actions or public sanctions at the time of testing. The brokerage has operated continuously since 1989. The main practical risk is entity routing: traders outside the UK and EU land on the Cayman entity. That entity provides weaker protection than the FCA or CySEC licences.
What is the minimum deposit for HYCM?
The minimum deposit is $100 for the Classic and Fixed Spread accounts, and $200 for the Raw account. The Classic account runs zero commission with EUR/USD spreads averaging 1.4 pips in my testing. The Raw account averages 0.3 pips on EUR/USD with a $4 per-side commission. Skrill withdrawals settled under 24 hours in my testing; SWIFT (international bank-wire network) transfer to a UAE bank settled in 36 hours.
Is HYCM available in the USA?
No. HYCM does not accept US or Canadian residents on any of its four entities. Accepted regions include the UK, EU, UAE, Kuwait, Qatar, Bahrain, Oman, Saudi Arabia, and most of Asia and Africa. US traders looking for regulated alternatives can consider OANDA, Forex.com or IG US, all licensed under NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission) oversight.