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TickmillHYCM (Henyep Capital Markets) Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
HYCM is a trusted brand that offers a straightforward MetaTrader platform experience and a proprietary mobile app. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central. That said, HYCM offers a narrow range of symbols to forex and CFD traders and does not accept clients in the EU anymore following the renunciation of its Cyprus license in June 2024.
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Minimum Deposit:
$20 -
Trust Score:
86 -
Tradeable Symbols (Total):
1199
| Range of Investments | |
| Commissions & Fees |  |
| Platforms & Tools | |
| Research |  |
| Mobile Trading | |
| Education | |
Check out ForexBrokers.com's picks for the best forex brokers in 2025.
| 2025 | #29 |
| 2024 | #27 |
| 2023 | #31 |
| 2022 | #24 |
| 2021 | #23 |
| 2020 | #28 |
| 2019 | #27 |
| 2018 | #34 |
Can I open an account with this broker?
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HYCM pros & cons
Pros
- Competitive pricing on HYCM Raw and commission-free stock trading via HYCM Invest.
- Strong research tools with Trading Central, Seasonax, and Financial Source.
- HYCM Trader mobile app now supports full trading capabilities.
Cons
- No longer licensed in Cyprus; EU clients not accepted.
- Crypto CFDs not available for EU or U.K. retail traders.
- HYCM's YouTube channel has been inactive for 9 months (as of July 2024).
My top takeaways for HYCM in 2025:
- HYCM's Raw account has competitive pricing, with an all-in cost of about 0.6 pips for the EUR/USD (after commission).
- Offers at least 20 video courses from MTE-Media that are grouped by experience level on the HYCM Academy website.
- Streaming forex news headlines from MT Newswires via the MetaTrader platform suite.
- Exchange-traded securities (non-CFD) are available through the separate platform Henyep Securities.
- Cryptocurrency CFDs are available through its CIMA-regulated entity in Cayman Islands.
- While educational content has improved, it is still limited compared to what's available from the best brokers in that category. Additionally, though improvements have been made to its offering, research at HYCM also falls behind industry leaders.
Trust score
Developed by ForexBrokers.com and in use for nearly 10 years, Trust Score is a proprietary rating system powered by a range of unique quantitative and qualitative metrics, including each company’s number of regulatory licenses. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). Learn more.
Is HYCM safe?
HYCM is considered Trusted, with an overall Trust Score of 86 out of 99. HYCM is not publicly traded, does operate a bank, and is authorised by two Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HYCM is authorised by the following tier-1 regulators: Securities Futures Commission (SFC), and Financial Conduct Authority (FCA).. Learn more about Trust Score.
| Feature |
 HYCM (Henyep Capital Markets)
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|---|---|
| Year Founded | 1977 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 1 |
HYCM Star Ratings
| Feature |
HYCM (Henyep Capital Markets)
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|---|---|
| Overall Rating |
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| Trust Score | 86 |
| Range of Investments |
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ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Our testing
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
- For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
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. Read more on forex trading risks.
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About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. 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).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.