WIKIFX REPORT: Henyep UK changes corporate name to HYCM

Retail FX and CFDs broker Henyep has changed the name of its London-based, FCA regulated entity from Henyep Capital Markets (UK) Limited to HYCM Capital Markets (UK) Limited.

The change from Henyep to HYCM seems to be in line with similar changes the company has made in other jurisdictions where it has regulated subsidiaries, e.g. Cyprus where it operates HYCM (Europe) Ltd. The group has gone to using the “HYCM” brand as its main retail moniker since 2016, with the Henyep Group kept for the parent company in Hong Kong.

The Henyep Group, and the HYCM brand, are controlled by Chinese businessman Sheen Charm Chiu. The UK entity is run by CEO Roger Bach, and did £1.7 million in revenue with a net loss of £65,826 in 2020. HYCM UK held £591,106 in client funds as at year-end 2020, down from £1.3 million the previous year.