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HYCM (Henyep) vs ATFX 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between HYCM (Henyep) and ATFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, HYCM (Henyep) ranks more highly than ATFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingHYCM (Henyep)ATFX
Overall Rating 7.7 / 10 6.6 / 10
Account TypeHYCM (Henyep)ATFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes No
Copy TradingHYCM (Henyep)ATFX
Social Trading / Copy Trading No Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyHYCM (Henyep)ATFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)HYCM (Henyep)ATFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)HYCM (Henyep)ATFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsHYCM (Henyep)ATFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No Yes
Social Trading / Copy Trading No Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF No Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsHYCM (Henyep)ATFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes No
Regulatory LicensesHYCM (Henyep)ATFX
Tier-1 Licenses 2 1
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 2 1
Tier-3 Licenses 1 1
Research, EducationHYCM (Henyep)ATFX
Trading Central (Recognia) Yes Yes
Forex News (Top-Tier Sources) Yes No
Daily Market Commentary Yes Yes
Autochartist No Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsHYCM (Henyep)ATFX
Minimum Initial Deposit $100 $500
Average Spread EUR/USD - Standard 0.6 (Sept 2021) -1
All-in Cost EUR/USD - Active 0.6 (Sept 2021) -1
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsHYCM (Henyep)ATFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 7
Trust FactorsHYCM (Henyep)ATFX
Year Founded 1977 2017
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 86 70
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HYCM (Henyep) vs ATFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare HYCM (Henyep) vs ATFX.

Can I trust HYCM (Henyep)?

HYCM (Henyep) has a trust score of 86, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust ATFX?

ATFX has a trust score of 70, giving it a "Average Risk" trust label.

Is HYCM (Henyep) a good broker?

HYCM has a long history of offering share trading, forex, and CFD markets globally. A trusted broker that primarily offers the MetaTrader platform, HYCM delivers competitive pricing on its Raw account, as well as access to Trading Central and third-party plugins.

Is ATFX a good broker?

ATFX is a MetaTrader-only broker, regulated primarily in the U.K., Cyprus, and Mauritius. ATFX demonstrates potential as MetaTrader broker, yet has considerable room to grow across key categories such as the range of markets and trading platforms.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.), while ATFX is FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, HYCM (Henyep) is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while ATFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses HYCM (Henyep) is CIMA Authorised (Cayman Islands), while ATFX is FSC Authorised (Mauritius)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both HYCM (Henyep) and ATFX offer a Desktop Platform (Windows)., neither have Proprietary Platform, cTrader, DupliTrade and ZuluTrade

Does HYCM (Henyep) offer MetaTrader? Does ATFX offer MetaTrader?

For MetaTrader HYCM (Henyep) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while ATFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do HYCM (Henyep) and ATFX differ in terms of minimum deposit? What about average spreads and funding options?

HYCM (Henyep) requires a minimum deposit of $100, while ATFX requires a minimum deposit of $500. From our testing we found HYCM (Henyep) offers spreads of 0.6 (Sept 2021), while ATFX offers spreads of -1. Both HYCM (Henyep) and ATFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, HYCM (Henyep) or ATFX?

HYCM (Henyep) offers a more diverse selection of investment options than ATFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals and U.S. Stocks (CFD). Looking at total tradeable symbols, HYCM (Henyep) has 245, compared to 150 from ATFX.

Can I trade cryptocurrency with HYCM (Henyep) or ATFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither HYCM (Henyep) nor ATFX allow you to trade physical cryptocurrencies.

Who offers more research tools, HYCM (Henyep) or ATFX?

In terms of research and research tools HYCM (Henyep) gives traders the following tools: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison ATFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

HYCM Review

ATFX Review

Overall winner: HYCM (Henyep)

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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