HYCM

HYCM broker is the retail trading arm of the Henyep financial group, whose roots go back to 1977 and the company "Henyep Gold Dealers" in Hong Kong. The brand's decades-long track record is impressive, but according to Teagle's expert, it is no guarantee of the quality of its services to Iranian traders today. In this overview, we review HYCM's licenses, accounts, payments and risks based on Teagle's data.

What kind of broker is HYCM?

The Henyep group was an active member of the Chinese Gold and Silver Exchange Society, one of the oldest precious metals exchanges in the world. The group's turning point was moving its headquarters to London in 1994 and expanding into securities, commodities and direct investment. HYCM has won awards such as "Best Mobile Trading Platform" and "Best Forex Broker" in various regions, which are part of its marketing identity. The broker offers forex, metals, energy, commodities, indices, stocks and cryptocurrencies.

HYCM broker licenses and credibility

According to Teagle's latest review, HYCM holds two active top-tier licenses:

• UK FCA (No. 186171);
• Dubai DFSA (No. F000048).

But here is the main issue: according to Teagle's expert, the product actually offered to Iranian clients is the service of an offshore company with a weak regulatory framework, and this broker's tier-1 regulators do not protect Iranian investors. To understand this gap, read the article the difference between offshore and onshore brokers and the guide broker regulation tiers .

Does HYCM serve Iranians?

Yes, but unofficially and with limitations. HYCM has a Persian website and support and supports Rial and crypto deposits and withdrawals, but accessing the site requires changing your IP, and the Rial method is not official. Teagle's expert considers its Persian support weak and ineffective. Perhaps for these reasons, despite its long history, the broker is not well known in Iran.

HYCM trading accounts

HYCM offers three account types, all with a minimum deposit of $20, a minimum volume of 0.01 lot, leverage up to 1:1000, margin call and stop-out at 50%, and an Islamic account option. According to Teagle's table:

• CLASSIC account: $5 commission per lot, floating spread from 0.1 pip and a maximum of 250 open orders; forex and metals only.
• Fixed account: no commission, spread from 1.2 pips, no limit on open orders and access to all markets, including 212 stocks and 19 cryptocurrencies.
• RAW account: no commission, fixed spread from 1.5 pips and a maximum of 250 open orders; forex and metals only.

The recorded specifications do not seem fully consistent with the account names (for example, a fixed spread for the RAW account), so confirm the exact terms on the broker's website. Requotes occur on all accounts. To convert an account to Islamic, you must request it from support, and a fee may be charged in place of swap. We have explained the concept of trading costs in spread in forex trading .

HYCM platforms and services

Trading at HYCM is done on MetaTrader 4, MetaTrader 5 and the proprietary HYCM Trader app. Expert advisors and hedging are allowed, but the broker does not officially approve scalping, and complaints have been reported about accounts being closed or scalpers' profits not being paid; so if your style is scalping, see the list of brokers suitable for scalping . The broker's services are limited to bonuses, education, referral rewards, an economic calendar and calculators, and according to Teagle's expert, it lacks modern tools such as copy trading and VPS. We have covered its partnership program in HYCM affiliate marketing review .

Deposits and withdrawals at HYCM

According to Teagle's table, crypto deposits are free, with a minimum of $30 and processing time of up to 24 hours; crypto withdrawals take up to 3 hours and the network fee is paid by the client. A Rial method is also listed, but no details are given for it. The most important warning from Teagle's expert in this section is the numerous credible reports of withdrawal delays, which he describes as "critical".

HYCM score and risk on Teagle

HYCM's final score on Teagle is 2.68 out of 5, derived from the average of four sources: WikiFX 3.6, Teagle's expert 2.9, Forex Peace Army 2.7 and Trustpilot 1.5. No score from Teagle users has been recorded yet. The Teagle Eye risk index for this broker is 26 out of 100, in the "low to medium risk" category; two top-tier licenses and 49 years of history have kept this number low, but the index does not measure the registration of Iranians under the offshore company.

Pros and cons of HYCM broker

• Pro: decades-long history and active FCA and DFSA licenses
• Pro: minimum deposit of $20
• Pro: MT4 and MT5 platforms and Rial and crypto payments
• Con: no protection for Iranian users from tier-1 regulators
• Con: numerous reports of withdrawal delays and weak Persian support
• Con: scalping not approved, requotes, and no copy trading or VPS

Who is HYCM suitable for?

In the view of Teagle's expert, HYCM is only worth considering for traders who regard the brand's history as the most important factor and knowingly accept the operational risks, especially in withdrawals and support. It is not suitable for scalpers, those who need quick access to their money, or those who want strong regulatory protection. Before deciding, see the HYCM vs FxPro comparison .

Conclusion

HYCM has a deep gap between its global image and its operational reality for the Iranian market. Its long history reduces the risk of it disappearing overnight, but it does not cover up unreliable withdrawals and ineffective support. If you intend to work with it, start with a small amount, make a test withdrawal before adding more capital, and follow the latest warnings on the investment risk warning page .