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IG vs HYCM (Henyep) 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between IG 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, IG 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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Compare

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Overall RatingIGHYCM (Henyep)
Overall Rating 9.9 / 10 7.7 / 10
Account TypeIGHYCM (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 No Yes
Copy TradingIGHYCM (Henyep)
Social Trading / Copy Trading Yes No
DupliTrade No No
ZuluTrade No No
CryptocurrencyIGHYCM (Henyep)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)IGHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)IGHYCM (Henyep)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsIGHYCM (Henyep)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes No
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsIGHYCM (Henyep)
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No Yes
Regulatory LicensesIGHYCM (Henyep)
Tier-1 Licenses 7 2
Australia (ASIC Authorised) Yes No
Canada (SRO Authorised) No No
United Kingdom (U.K.) (FCA Authorised) Yes Yes
Hong Kong (SFC Authorised) No Yes
Singapore (MAS Authorised) Yes No
Switzerland (FINMA Authorised) No No
USA (CFTC Authorized) Yes No
Tier-2 Licenses 2 2
Tier-3 Licenses 1 1
Research, EducationIGHYCM (Henyep)
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsIGHYCM (Henyep)
Minimum Deposit £250.00 $100
Average Spread EUR/USD - Standard 0.86 info 0.6 info
All-in Cost EUR/USD - Active 0.5957 info 0.6 info
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 ToolsIGHYCM (Henyep)
Watchlists - Total Fields 14 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 33 30
Mobile Charting - Indicators / Studies 33 30
Trust FactorsIGHYCM (Henyep)
Year Founded 1974 1977
Publicly Traded (Listed) Yes No
Bank Yes No
European Union Authorised (MiFID) Yes info Yes info
Trust Score 99 86
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IG 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 IG vs HYCM (Henyep).

Can I trust IG?

IG 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 IG a good broker?

We consider IG to be the best overall broker in the industry, due to its excellent pricing, outstanding educational materials, comprehensive research, vast range of markets, and its powerful trading platform suite. IG also continues to acquire more regulatory licenses, bolstering its status as a trustworthy 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. IG is Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized), while HYCM (Henyep) is Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (SRO Authorised), CBI Authorised (Ireland) and Switzerland (FINMA Authorised)

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, IG is South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), 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) and Thailand (SEC Authorised). When comparing tier-3 licenses IG is Bermuda (BMA Authorised), while HYCM (Henyep) is Cayman Islands (CIMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), British Virgin Islands (FSC Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Both IG and HYCM (Henyep) offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does IG offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?

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

IG requires a minimum deposit of £250.00, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found IG offers spreads of 0.86, while HYCM (Henyep) offers spreads of 0.6. IG 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, IG or HYCM (Henyep)?

IG offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IG has 19537, compared to 362 from HYCM (Henyep).

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

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

In terms of research and research tools IG gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) 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).

Broker Reviews

Still looking for more information, read our broker reviews.

IG Review

HYCM Review

Overall winner: IG

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announcementPlease note:

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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