HYCM (Henyep) vs TopFX 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 TopFX.
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 – 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 TopFX?
TopFX has a trust score of 67, giving it a "High 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 TopFX a good broker?
TopFX lags behind the industry average when it comes to market research and education, yet offers a growing selection of markets that you can trade on the MetaTrader and cTrader 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 TopFX is none., 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 TopFX 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 TopFX is none., 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 HYCM (Henyep) supports a Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader., neither have Proprietary Platform, DupliTrade and ZuluTrade
Does HYCM (Henyep) offer MetaTrader? Does TopFX offer MetaTrader?
For MetaTrader HYCM (Henyep) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while TopFX 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 TopFX differ in terms of minimum deposit? What about average spreads and funding options?
HYCM (Henyep) requires a minimum deposit of $100, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found HYCM (Henyep) offers spreads of 0.6 (Sept 2021), while TopFX offers spreads of N/A. HYCM (Henyep) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, HYCM (Henyep) or TopFX?
HYCM (Henyep) offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, HYCM (Henyep) has 245, compared to 655 from TopFX.
Can I trade cryptocurrency with HYCM (Henyep) or TopFX?
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 HYCM (Henyep) nor TopFX allow you to trade physical cryptocurrencies.
Who offers more research tools, HYCM (Henyep) or TopFX?
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 TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Stock Charts