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HYCM (Henyep) vs Trade Nation 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between HYCM (Henyep) and Trade Nation? Weโ€™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, HYCM (Henyep) ranks more highly than Trade Nation.

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 RatingHYCM (Henyep)Trade Nation
Overall Rating 7.7 / 10 7.5 / 10
Account TypeHYCM (Henyep)Trade Nation
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 No
Copy TradingHYCM (Henyep)Trade Nation
Social Trading / Copy Trading No No
DupliTrade No No
ZuluTrade No No
CryptocurrencyHYCM (Henyep)Trade Nation
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes No
Bitcoin Yes No
ethereum Yes No
Forex Trading (Spot or CFDs)HYCM (Henyep)Trade Nation
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)HYCM (Henyep)Trade Nation
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsHYCM (Henyep)Trade Nation
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No Yes
Social Trading / Copy Trading No No
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF No No
U.S. Stocks (CFD) Yes No
Trading PlatformsHYCM (Henyep)Trade Nation
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes No
Regulatory LicensesHYCM (Henyep)Trade Nation
Tier-1 Licenses 2 2
ASIC Authorised (Australia) No Yes
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 2 1
Tier-3 Licenses 1 1
Research, EducationHYCM (Henyep)Trade Nation
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes No
Autochartist No No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes No
Trading CostsHYCM (Henyep)Trade Nation
Minimum Initial Deposit $100 $0
Average Spread EUR/USD - Standard 0.6 (Sept 2021) 0.6
All-in Cost EUR/USD - Active 0.6 (Sept 2021) 0.6
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsHYCM (Henyep)Trade Nation
Watchlists - Total Fields 7 12
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 35
Mobile Charting - Indicators / Studies 30 95
Trust FactorsHYCM (Henyep)Trade Nation
Year Founded 1977 2014
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info No info
Trust Score 86 83
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HYCM (Henyep) vs Trade Nation 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 Trade Nation.

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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust Trade Nation?

Trade Nation has a trust score of 83, giving it a "Trusted" 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 Trade Nation a good broker?

Trade Nation offers an innovative platform suite that is optimized for ease-of-use, and great for beginners. That being said, the lack of advanced trading features may leave experienced traders wanting more.

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 Trade Nation is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have 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 Trade Nation is FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses HYCM (Henyep) is CIMA Authorised (Cayman Islands), while Trade Nation is SCB Authorised (Bahamas)., neither have 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 Trade Nation supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does HYCM (Henyep) offer MetaTrader? Does Trade Nation offer MetaTrader?

For MetaTrader HYCM (Henyep) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation 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 Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?

HYCM (Henyep) requires a minimum deposit of $100, while Trade Nation requires a minimum deposit of $0. From our testing we found HYCM (Henyep) offers spreads of 0.6 (Sept 2021), while Trade Nation offers spreads of 0.6. Both HYCM (Henyep) and Trade Nation offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

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

HYCM (Henyep) offers a more diverse selection of investment options than Trade Nation allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Social Trading / Copy Trading and ETF Looking at total tradeable symbols, HYCM (Henyep) has 245, compared to 601 from Trade Nation.

Can I trade cryptocurrency with HYCM (Henyep) or Trade Nation?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither HYCM (Henyep) nor Trade Nation allow you to trade physical cryptocurrencies.

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

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 Trade Nation has the tools listed here: Stock Charts and Forex News (Top-Tier Sources)., neither have Autochartist and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

HYCM Review

Trade Nation Review

Overall winner: HYCM (Henyep)

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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