Plus500 vs HYCM (Henyep Capital Markets) 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 Plus500 vs HYCM (Henyep Capital Markets).
Can I trust Plus500?
Plus500 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 Capital Markets)?
HYCM (Henyep Capital Markets) has a trust score of 88, giving it a "Trusted" trust label.
Is Plus500 a good broker?
Plus500 is a highly-trusted broker that holds six Tier-1 regulatory licenses from reputable jurisdictions around the globe and has a Trust Score rating of 99. Traders at Plus500 gain access to share trading via the Plus500 Invest platform, and CFD traders will find good selection of CFDs available via the broker’s separate Plus500 CFD platform. Though Plus500 does not provide access to the popular MetaTrader suite, we found its proprietary trading platform to be intuitive and easy to use. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.
Is HYCM (Henyep Capital Markets) a good broker?
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.
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. Plus500 is Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised), while HYCM (Henyep Capital Markets) is Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), 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, Plus500 is Cyprus (CySEC Authorised), Israel (ISA Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while HYCM (Henyep Capital Markets) is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses Plus500 is none, while HYCM (Henyep Capital Markets) is Cayman Islands (CIMA Authorised).. 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?
For trading platforms Plus500 supports a Proprietary Platform, whereas HYCM (Henyep Capital Markets) supports a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does Plus500 offer MetaTrader? Does HYCM (Henyep Capital Markets) offer MetaTrader?
For MetaTrader Plus500 provides neither of these, while HYCM (Henyep Capital Markets) 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 Plus500 and HYCM (Henyep Capital Markets) differ in terms of minimum deposit? What about average spreads and funding options?
Plus500 requires a minimum deposit of €100, while HYCM (Henyep Capital Markets) requires a minimum deposit of $20. From our testing we found Plus500 offers spreads of 0.8 (August 2021), while HYCM (Henyep Capital Markets) offers spreads of 0.6. Plus500 supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where HYCM (Henyep Capital Markets) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).
Which broker offers more tradeable asset classes, Plus500 or HYCM (Henyep Capital Markets)?
Plus500 offers a more diverse selection of investment options than HYCM (Henyep Capital Markets) allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, ETF and U.S. Stocks (CFD).. Neither have Spread Betting and Social Trading / Copy Trading Looking at total tradeable symbols, Plus500 has 2800, compared to 1199 from HYCM (Henyep Capital Markets).
Can I trade cryptocurrency with Plus500 or HYCM (Henyep Capital Markets)?
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 Plus500 nor HYCM (Henyep Capital Markets) allow you to trade physical cryptocurrencies.
Who offers more research tools, Plus500 or HYCM (Henyep Capital Markets)?
In terms of research and research tools Plus500 gives traders the following tools: Daily Market Commentary, Stock Charts and Trading Central (Recognia). In comparison HYCM (Henyep Capital Markets) has the tools listed here: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia).. Neither have Autochartist and Social Trading / Copy Trading
Overall winner: Plus500
Popular Forex Reviews
Popular Forex Guides
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.