Is HYCM a Scam or Legit?
HYCM holds a valid FCA licence. The number is public and verifiable.
HYCM is regulated under FCA licence 186171, issued to Henyep Capital Markets (UK) Ltd. This licence appears in the FCA public register. HYCM has been operating since 1977 — 49 years. Scam operations do not maintain long-term regulated status.
The FCA registration
| Regulator | FCA |
| Licence number | 186171 ✓ |
| Registered entity | Henyep Capital Markets (UK) Ltd |
| Status | Authorised |
| Register | register.fca.org.uk |
| Years regulated | 49+ |
What FCA regulation means for you
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
All regulatory licences
HYCM holds 3 regulatory licences across different jurisdictions. The entity that applies to your account depends on your country of residence.
| Regulator | Licence | Entity | Max leverage |
|---|---|---|---|
| FCA | 186171 | Henyep Capital Markets (UK) Ltd | 1:30 max |
| CySEC | 259/14 | Henyep Capital Markets (Europe) Ltd | 1:30 max |
| DFSA | F000048 | Henyep Capital Markets International | 1:400 max |
How to verify HYCM yourself
Go to register.fca.org.uk. Enter the licence number 186171 or search by entity name Henyep Capital Markets (UK) Ltd. The result should show the entity name, authorisation status, and the specific regulated activities it is permitted to conduct.
This takes under a minute. If a broker cannot be found on the relevant regulator's register, that is a serious warning sign. All legitimate regulated brokers appear there.
Common complaints and what they mean
Most complaints about HYCM fall into standard categories: withdrawal processing times, spread widening during news events, and account verification requests. These are normal business practices, not indicators of fraud.
None of these patterns indicate fraud. They are the normal complaints of a commercial brokerage enforcing its terms. Real forex scams operate without any regulatory licence, refuse all withdrawals, and disappear with client funds. That is not the profile of HYCM.
Red flags that would indicate a real scam
When researching any broker, watch for these genuine warning signs:
- No licence number listed, or a licence that cannot be found on the official register
- Pressure to deposit more money to unlock withdrawals
- Promises of guaranteed returns or "risk-free" trading
- Platform that only shows profits, never losses
- No physical address or contact information
- Licence from a regulator you have never heard of that has no official website
None of these apply to HYCM. Its FCA licence 186171 is publicly verifiable, it has disclosed offices in London, UK, and it has operated continuously since 1977.
Frequently asked questions
Is HYCM safe to deposit money with?
HYCM is FCA-regulated and client funds are held in segregated accounts. UK clients are also covered by the FSCS up to £85,000. This does not eliminate trading risk, but it protects funds from broker insolvency.
Why do people ask if HYCM is a scam?
Most forex scam searches come from traders who lost money trading. CFD trading is high-risk — 67% of HYCM retail clients lose money. Losing money on a legitimate platform does not make it a scam. Scams refuse all withdrawals and disappear. HYCM has processed billions in withdrawals over 49 years of operation.
Is HYCM regulated in my country?
HYCM holds licences covering 35 countries across 3 regulatory jurisdictions. The entity serving your account depends on your country. Check the full licence table above to find which entity applies to your region.
What happens to my money if HYCM goes bankrupt?
FCA-regulated brokers must hold client funds in segregated bank accounts entirely separate from company operating funds. UK clients also have FSCS protection up to £85,000.