HYCM (Henyep) vs Libertex (Forex Club) 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 Libertex (Forex Club).
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 Libertex (Forex Club)?
Libertex (Forex Club) has a trust score of 72, giving it a "Average 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 Libertex (Forex Club) a good broker?
Forex Club has long been a MetaTrader broker, though its more recent Libertex brand in Europe also offers a proprietary platform. That said, Libertex has fewer regulatory licenses than its peers, resulting in a below-average Trust Score.
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 Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised), while Libertex (Forex Club) is none.. Neither have Australia (ASIC Authorised), Canada (SRO 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, HYCM (Henyep) is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while Libertex (Forex Club) is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses HYCM (Henyep) is Cayman Islands (CIMA Authorised), while Libertex (Forex Club) is none.. 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?
Both HYCM (Henyep) and Libertex (Forex Club) offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does HYCM (Henyep) offer MetaTrader? Does Libertex (Forex Club) offer MetaTrader?
For MetaTrader HYCM (Henyep) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Libertex (Forex Club) 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 Libertex (Forex Club) differ in terms of minimum deposit? What about average spreads and funding options?
HYCM (Henyep) requires a minimum deposit of $100, while Libertex (Forex Club) requires a minimum deposit of $10. From our testing we found HYCM (Henyep) offers spreads of 0.6, while Libertex (Forex Club) 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 Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, HYCM (Henyep) or Libertex (Forex Club)?
HYCM (Henyep) offers a more diverse selection of investment options than Libertex (Forex Club) 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 362, compared to 300 from Libertex (Forex Club).
Can I trade cryptocurrency with HYCM (Henyep) or Libertex (Forex Club)?
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 Libertex (Forex Club) allow you to trade physical cryptocurrencies.
Who offers more research tools, HYCM (Henyep) or Libertex (Forex Club)?
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 Libertex (Forex Club) has the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Autochartist
Overall winner: HYCM (Henyep)
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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.