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FinecoBank vs HYCM (Henyep Capital Markets) 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between FinecoBank and HYCM (Henyep Capital Markets)? 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, FinecoBank ranks more highly than HYCM (Henyep Capital Markets).

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Compare

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Overall Rating FinecoBank HYCM (Henyep Capital Markets)
Overall Rating star 8.0 /10 star 7.9 /10
Offering of Investments star 9.0 /10 star 7.5 /10
Commissions & Fees star 7.0 /10 star 8.5 /10
Platform & Tools star 8.0 /10 star 7.5 /10
Research star 7.5 /10 star 7.5 /10
Mobile Trading star 7.5 /10 star 7.5 /10
Education star 6.5 /10 star 7.0 /10
Account Type FinecoBank HYCM (Henyep Capital Markets)
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info No Yes
Islamic Account info No Yes
Deposit/Withdrawal Options FinecoBank HYCM (Henyep Capital Markets)
Minimum Deposit info $0 $20
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info Yes No
Copy Trading FinecoBank HYCM (Henyep Capital Markets)
Social Trading / Copy Trading info No No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency FinecoBank HYCM (Henyep Capital Markets)
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info No Yes
Bitcoin info Yes Yes
Ethereum info No Yes
Forex Trading (Spot or CFDs) FinecoBank HYCM (Henyep Capital Markets)
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) FinecoBank HYCM (Henyep Capital Markets)
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments FinecoBank HYCM (Henyep Capital Markets)
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms FinecoBank HYCM (Henyep Capital Markets)
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses FinecoBank HYCM (Henyep Capital Markets)
Tier-1 Licenses info 2 2
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No Yes
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Research, Education FinecoBank HYCM (Henyep Capital Markets)
Trading Central (Recognia) info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info No Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info No Yes
Trading Costs FinecoBank HYCM (Henyep Capital Markets)
Minimum Deposit info $0 $20
Average Spread EUR/USD - Standard info N/A info 1.2 info
All-in Cost EUR/USD - Active info N/A info 0.6 info
Active Trader or VIP Discounts info No Yes
Trading Tools FinecoBank HYCM (Henyep Capital Markets)
Watchlists - Total Fields info N/A 7
Mobile Watchlist info No Yes
Charting - Indicators / Studies (Total) info 37 30
Mobile Charting - Indicators / Studies info 6 30
Trust Factors FinecoBank HYCM (Henyep Capital Markets)
Year Founded info 1999 1977
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Trust Score info 94 86
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FinecoBank vs HYCM (Henyep Capital Markets) Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between FinecoBank and HYCM (Henyep Capital Markets)? Our independent database powered by our unbiased research will help you compare FinecoBank vs HYCM (Henyep Capital Markets) side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust FinecoBank?

FinecoBank has a Trust Score of 94, giving it a "Highly Trusted" Trust Score Label.

Can I trust HYCM (Henyep Capital Markets)?

HYCM (Henyep Capital Markets) has a Trust Score of 86, giving it a "Trusted" Trust Score Label.

Is FinecoBank a good broker?

Founded in 1999, FinecoBank is a highly trusted brand regulated in multiple Tier-1 jurisdictions and listed on the Italian Stock Exchange. It's worth noting that traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents at an actual Fineco branch office). Traders that are able to open an account with Fineco will find a large number of tradeable markets and multiple proprietary trading platforms, including FinecoX and the PowerDesk desktop platform.

Is HYCM (Henyep Capital Markets) a good broker?

Founded in 1977, HYCM is a trusted broker licensed in multiple Tier-1 regulatory jurisdictions with a long history of offering share trading, forex, and CFD trading. Traders at HYCM can use the HYCM Trader mobile app, the full MetaTrader suite (MT4 and MT5), as well as third-party tools like Trading Central. HYCM delivers competitive pricing on its Raw account, but the broker's research and educational resources have room to improve.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FinecoBank holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). HYCM (Henyep Capital Markets), on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised). Neither have Canada (CIRO 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, FinecoBank is none, while HYCM (Henyep Capital Markets) is UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses FinecoBank is none, while HYCM (Henyep Capital Markets) is Cayman Islands (CIMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both FinecoBank and HYCM (Henyep Capital Markets) offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does FinecoBank offer MetaTrader? Does HYCM (Henyep Capital Markets) offer MetaTrader?

For MetaTrader FinecoBank provides neither of these, while HYCM (Henyep Capital Markets) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

FinecoBank requires a minimum deposit of $0, while HYCM (Henyep Capital Markets) requires a minimum deposit of $20. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that FinecoBank supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas HYCM (Henyep Capital Markets) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, FinecoBank or HYCM (Henyep Capital Markets)?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FinecoBank delivers a more diverse selection of investment options than HYCM (Henyep Capital Markets), offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting and Social Trading / Copy Trading.

We also keep track of each broker’s total number of tradeable symbols; FinecoBank offers 9770, and HYCM (Henyep Capital Markets) offers a total of 1199 tradeable symbols.

Can I trade cryptocurrency with FinecoBank or HYCM (Henyep Capital Markets)?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither FinecoBank nor HYCM (Henyep Capital Markets) allow you to trade physical cryptocurrencies.

Who offers more research tools, FinecoBank or HYCM (Henyep Capital Markets)?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. FinecoBank delivers the following research tools: Stock Charts and Forex News (Top-Tier Sources). HYCM (Henyep Capital Markets), on the other hand, provides the tools listed here: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia). Neither have Autochartist and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

Fineco Bank Review

HYCM Review

Overall winner: FinecoBank

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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.


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