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FOREX.com vs HYCM (Henyep) 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FOREX.com 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, FOREX.com 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 RatingFOREX.comHYCM (Henyep)
Overall Rating 9.3 / 10 7.7 / 10
Account TypeFOREX.comHYCM (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 TradingFOREX.comHYCM (Henyep)
Social Trading / Copy Trading No No
DupliTrade No No
ZuluTrade No No
CryptocurrencyFOREX.comHYCM (Henyep)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FOREX.comHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FOREX.comHYCM (Henyep)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFOREX.comHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading No No
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsFOREX.comHYCM (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 LicensesFOREX.comHYCM (Henyep)
Tier-1 Licenses 4 2
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) No Yes
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) Yes No
Tier-2 Licenses 2 2
Tier-3 Licenses 1 1
Research, EducationFOREX.comHYCM (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) No Yes
Trading CostsFOREX.comHYCM (Henyep)
Minimum Initial Deposit $100 $100
Average Spread EUR/USD - Standard 1.0 (July 2022) 0.6 (Sept 2021)
All-in Cost EUR/USD - Active 1.0 (July 2022) 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 ToolsFOREX.comHYCM (Henyep)
Watchlists - Total Fields 20 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 203 30
Mobile Charting - Indicators / Studies 88 30
Trust FactorsFOREX.comHYCM (Henyep)
Year Founded 1999 1977
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 99 86
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FOREX.com 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 FOREX.com vs HYCM (Henyep).

Can I trust FOREX.com?

FOREX.com has a trust score of 99, 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 FOREX.com a good broker?

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. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

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, both FOREX.com and HYCM (Henyep) are CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE)., 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 both FOREX.com and HYCM (Henyep) are CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does FOREX.com offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?

Both FOREX.com 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 FOREX.com and HYCM (Henyep) differ in terms of minimum deposit? What about average spreads and funding options?

FOREX.com requires a minimum deposit of $100, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found FOREX.com offers spreads of 1.0 (July 2022), while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (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, FOREX.com or HYCM (Henyep)?

FOREX.com offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting and Social Trading / Copy Trading Looking at total tradeable symbols, FOREX.com has 5500, compared to 245 from HYCM (Henyep).

Can I trade cryptocurrency with FOREX.com 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 FOREX.com nor HYCM (Henyep) allow you to trade physical cryptocurrencies.

Who offers more research tools, FOREX.com or HYCM (Henyep)?

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

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