Choose HYCM if you want…
MENA + EU traders wanting an established multi-jurisdictional broker with Henyep Group balance-sheet backing.
HYCM
⭐ 4.3 / 5
VS
Ultima Markets
⭐ 4.1 / 5
HYCM vs Ultima Markets — which broker is better in 2026?
We compared HYCM and Ultima Markets across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. HYCM wins on more criteria (3 categories vs 2), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
| HYCM | Ultima Markets | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.3 / 5 | ⭐ 4.1 / 5 | HYCM |
| Regulators | FCA, CySEC, DFSA, CIMA Cayman | CySEC, FSC Mauritius | HYCM |
| Min. deposit | $100 | $50 | Ultima Markets |
| Spreads from | 0.2 pips (Raw) / 1.2 pips (Classic) | 0.0 pips (Raw) | Ultima Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | 1:500 | — |
| Platforms | MT4, MT5, HYCM Trader | MT4, MT5 | HYCM |
| Founded | 1977 | 2016 | — |
| HQ | London, UK / Limassol, Cyprus | Port Louis, Mauritius | — |
Pros & cons compared
HYCM pros
- ✓ Founded 1977 — among the oldest retail FX brokers globally
- ✓ FCA + CySEC + DFSA + CIMA tier-1 + tier-2 regulation
- ✓ Part of Henyep Group — diversified $1bn+ financial conglomerate
- ✓ Strong MENA + EU presence with Arabic support
- ✓ Raw account: 0.2 pips + $4/lot round-turn
Cons
- ✗ Smaller scale than Exness / XM / Pepperstone
- ✗ Classic account spreads (1.2+ pips) wider than ECN brokers
- ✗ Limited cTrader option — MT4/MT5 only
Ultima Markets pros
- ✓ CySEC + FSC Mauritius regulation
- ✓ Raw spreads from 0.0 pips
- ✓ Investor Compensation Fund (ICF) membership on the EU entity
- ✓ Full MT4 and MT5 support
Cons
- ✗ Offshore entity used for the higher 1:500 leverage
- ✗ Younger brand with limited public track record
- ✗ Modest proprietary tooling beyond MetaTrader
Which one should you choose?
Choose Ultima Markets if you want…
Traders who want CySEC-backed raw-spread accounts with global reach and high offshore leverage.
Frequently asked questions
Which is better — HYCM or Ultima Markets?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), HYCM wins 3 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is HYCM more regulated than Ultima Markets?
HYCM holds licenses from: FCA, CySEC, DFSA, CIMA Cayman. Ultima Markets holds licenses from: CySEC, FSC Mauritius. HYCM has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at HYCM vs Ultima Markets?
HYCM spreads start from 0.2 pips (Raw) / 1.2 pips (Classic). Ultima Markets spreads start from 0.0 pips (Raw). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, HYCM or Ultima Markets?
HYCM: $100. Ultima Markets: $50. Ultima Markets has the lower entry barrier.
