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AvaTrade vs HYCM (Henyep) 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between AvaTrade and HYCM (Henyep)? We’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, AvaTrade ranks more highly than HYCM (Henyep).

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 RatingAvaTradeHYCM (Henyep)
Overall Rating 8.6 / 10 7.7 / 10
Account TypeAvaTradeHYCM (Henyep)
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 Yes
Copy TradingAvaTradeHYCM (Henyep)
Social Trading / Copy Trading Yes No
DupliTrade Yes No
ZuluTrade Yes No
CryptocurrencyAvaTradeHYCM (Henyep)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)AvaTradeHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)AvaTradeHYCM (Henyep)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsAvaTradeHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes No
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF No No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsAvaTradeHYCM (Henyep)
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesAvaTradeHYCM (Henyep)
Tier-1 Licenses 4 2
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) No Yes
SFC Authorised (Hong Kong) No Yes
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 3 2
Tier-3 Licenses 1 1
Research, EducationAvaTradeHYCM (Henyep)
Trading Central (Recognia) Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist No No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsAvaTradeHYCM (Henyep)
Minimum Initial Deposit $100 $100
Average Spread EUR/USD - Standard 0.91 (Aug 2020) 0.6 (Sept 2021)
All-in Cost EUR/USD - Active 0.61 (Aug 2020) 0.6 (Sept 2021)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Trading ToolsAvaTradeHYCM (Henyep)
Watchlists - Total Fields 6 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 90 30
Mobile Charting - Indicators / Studies 73 30
Trust FactorsAvaTradeHYCM (Henyep)
Year Founded 2006 1977
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 93 86
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AvaTrade vs HYCM (Henyep) 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 AvaTrade vs HYCM (Henyep).

Can I trust AvaTrade?

AvaTrade has a trust score of 93, giving it a "Highly 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 – in most cases – 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 “Do Not Trust” rating.

Can I trust HYCM (Henyep)?

HYCM (Henyep) has a trust score of 86, giving it a "Trusted" trust label.

Is AvaTrade a good broker?

AvaTrade is a well-rounded, trusted broker that offers excellent educational resources and great social copy trading tools. AvaTrade's commissions and market research are close to the industry average, and traders gain access to AvaTrade's proprietary platforms as well as third-party favorites like MetaTrader.

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.

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. AvaTrade is ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland) and FSA Authorised (Japan), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have 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, AvaTrade is CySEC Authorised (Cyprus), ISA Authorised (Israel), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while HYCM (Henyep) is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses AvaTrade is FSC Authorised (British Virgin Islands), while HYCM (Henyep) is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms AvaTrade supports a Proprietary Platform, Desktop Platform (Windows), DupliTrade and ZuluTrade, whereas HYCM (Henyep) supports a Desktop Platform (Windows)., neither have cTrader

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

Both AvaTrade and HYCM (Henyep) offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

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

AvaTrade requires a minimum deposit of $100, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found AvaTrade offers spreads of 0.91 (Aug 2020) , while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). AvaTrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where HYCM (Henyep) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

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

AvaTrade offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, AvaTrade has 1260, compared to 245 from HYCM (Henyep).

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

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 — including spot forex contracts. In terms of trading physical cryptocurrency neither AvaTrade nor HYCM (Henyep) allow you to trade physical cryptocurrencies.

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

In terms of research and research tools AvaTrade gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison HYCM (Henyep) has the tools listed here: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia)., neither have Autochartist

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