DooPrime 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 DooPrime vs HYCM (Henyep).
Can I trust DooPrime?
DooPrime has a trust score of 84, 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 – 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 DooPrime a good broker?
DooPrime is primarily a MetaTrader broker that offers both MT4 and MT5, along with several copy trading platforms and its own In Trade platform. DooPrime is regulated in the U.K, Vanuatu, and Mauritius, and provides nearly 10,000 trading symbols. That said, we were unable to obtain any average spread data for DooPrime when evaulating trading costs.
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. both DooPrime and HYCM (Henyep) are Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Australia (ASIC Authorised), Canada (SRO Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
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, DooPrime is none, while HYCM (Henyep) is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses DooPrime is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised), while HYCM (Henyep) is Cayman Islands (CIMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and British Virgin Islands (FSC Authorised).
Which broker offers more trading platforms?
Both DooPrime and HYCM (Henyep) offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does DooPrime offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?
Both DooPrime 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 DooPrime and HYCM (Henyep) differ in terms of minimum deposit? What about average spreads and funding options?
DooPrime requires a minimum deposit of $100, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found DooPrime offers spreads of N/A, while HYCM (Henyep) offers spreads of 0.6. DooPrime 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, DooPrime or HYCM (Henyep)?
DooPrime offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, DooPrime has 10000, compared to 362 from HYCM (Henyep).
Can I trade cryptocurrency with DooPrime 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 DooPrime nor HYCM (Henyep) allow you to trade physical cryptocurrencies.
Who offers more research tools, DooPrime or HYCM (Henyep)?
In terms of research and research tools DooPrime 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
Overall winner: DooPrime
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We review each broker’s overall global offering – a “Yes” 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.