HYCM (Henyep Capital Markets) vs OctaFX 2023

HYCM (Henyep Capital Markets) has a trust score of 88, 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.

OctaFX has a trust score of 70, giving it a "Average Risk" trust label.

Founded in 1977, HYCM is a trusted broker licensed in multiple Tier-1 regulatory jurisdictions with a long history of offering share trading, forex, and CFD trading. Traders at HYCM can use the HYCM Trader mobile app, the full MetaTrader suite (MT4 and MT5), as well as third-party tools like Trading Central. HYCM delivers competitive pricing on its Raw account, but the broker's research and educational resources have room to improve.

Founded in 2011, OctaFX delivers access to both MetaTrader 4 and MetaTrader 5 alongside its own OctaTrader platform for web and its proprietary OctaFX Copytrading app for social copy trading. OctaFX has decent pricing, but its range of markets is narrow, and the broker is only regulated in one Tier-1 jurisdiction (which brings down its Trust Score rating).

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 Capital Markets) is Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised), while OctaFX is none.. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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 Capital Markets) is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while OctaFX is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses HYCM (Henyep Capital Markets) is Cayman Islands (CIMA Authorised), while OctaFX 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).

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

Both HYCM (Henyep Capital Markets) and OctaFX 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.

HYCM (Henyep Capital Markets) requires a minimum deposit of $20, while OctaFX requires a minimum deposit of $25. From our testing we found HYCM (Henyep Capital Markets) offers spreads of 0.6, while OctaFX offers spreads of 0.9. Both HYCM (Henyep Capital Markets) and OctaFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits.. Neither have PayPal (Deposit/Withdraw)

HYCM (Henyep Capital Markets) offers a more diverse selection of investment options than OctaFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals and U.S. Stocks (CFD).. Neither have Spread Betting and ETF Looking at total tradeable symbols, HYCM (Henyep Capital Markets) has 1199, compared to 229 from OctaFX.

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 Capital Markets) nor OctaFX allow you to trade physical cryptocurrencies.

In terms of research and research tools HYCM (Henyep Capital Markets) gives traders the following tools: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison OctaFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

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