Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets vs HYCM (Henyep Capital Markets), we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% 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.
BlackBull Markets and HYCM (Henyep Capital Markets) present themselves as compelling choices for online trading, yet they differ in aspects of trust and regulatory backing. BlackBull Markets, founded in 2014, boasts a ForexBrokers.com Trust Score of 78, categorizing it as an average risk. It holds one highly trusted Tier-1 license, despite not having any Tier-2 licenses. The company is privately held and is not a banking institution, which aligns with its focused trading services.
In contrast, HYCM, established in 1977, earns a higher Trust Score of 86, placing it in the trusted category. It holds two Tier-1 licenses and one Tier-2 license, reflecting a stronger regulatory presence. Like BlackBull Markets, HYCM is also privately held and not a bank. The more extensive regulatory approval and longer market presence may make HYCM a preferable option for those seeking additional assurances in their trading platform.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 2014 | 1977 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Comparing commissions and fees, both BlackBull Markets and HYCM (Henyep Capital Markets) earn 4.5 out of 5 stars. In ForexBrokers.com’s Commissions and Fees category, BlackBull ranks #9 out of 63 brokers, while HYCM ranks #18 out of 63. That suggests a slight edge to BlackBull overall, though your actual costs will depend on the account type you choose at each broker.
At BlackBull Markets, pricing varies by account. The Standard account is commission-free with no minimum deposit, but spreads are higher. The Prime account (minimum $2,000) typically delivers better value: in March 2024, the average EUR/USD spread was 0.16 pips, for a 0.76-pip all-in cost after adding the $3-per-side ($6 round turn) commission. Active traders can opt for the ECN Institutional account (minimum $20,000) with lower commissions of $2 per side ($4 round turn). Overall, BlackBull’s costs sit around the industry average, with the Prime account being the standout for frequent FX traders.
HYCM’s pricing is straightforward: the Raw account posts an all-in cost of about 0.6 pips on EUR/USD (after commission), which undercuts BlackBull’s Prime all-in by a hair on that pair. HYCM’s Classic account uses variable spreads from 1.2 pips, while its fixed-spread account is 1.5 pips. If you want the lowest possible EUR/USD costs and can use HYCM’s Raw account, HYCM can be marginally cheaper; if you prefer multiple pricing tiers—and potentially lower commissions at larger deposits—BlackBull’s Prime and ECN Institutional options are compelling.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average spread (EUR/USD) - Standard account | 1.16 | 1.3 |
| All-in Cost EUR/USD - Active | 0.76 | 0.6 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
BlackBull Markets and HYCM (Henyep Capital Markets) both support forex trading as CFDs or spot and let you trade exchange‑listed stocks on U.S. and international exchanges (so you can buy shares like Apple or Vodafone, not just CFDs). The key difference is scale: BlackBull Markets lists about 26,000 tradable symbols and 72 forex pairs, while HYCM offers 1,199 symbols and 70 forex pairs. Both provide cryptocurrency CFDs (but not direct, delivered crypto). BlackBull also offers copy trading, whereas HYCM does not.
For range of investments, BlackBull Markets earns 5 stars and ranks #7 out of 63 brokers on ForexBrokers.com; HYCM earns 4 stars and ranks #27. If you want the widest selection and access to copy trading, BlackBull Markets stands out. If you prefer a simpler lineup that still covers major markets and crypto CFDs, HYCM is a solid alternative.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 1199 |
| Forex Pairs (Total) | 72 | 70 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
BlackBull Markets and HYCM both check the core boxes for platform access and ease of use. Each broker offers a free demo account, supports MetaTrader 4 and MetaTrader 5, provides a Windows desktop download and a web-based platform, and lets you place trades directly from charts. For Trading Platforms and Tools, both earn 4 out of 5 stars from ForexBrokers.com.
The key differences come down to extra features. HYCM offers its own proprietary platform, while BlackBull Markets does not. On the flip side, BlackBull Markets supports copy trading, and HYCM does not. In the category ranking from ForexBrokers.com, BlackBull Markets places #25 out of 63 brokers, while HYCM ranks #32. If you want copy trading, BlackBull Markets may suit you; if you prefer an in-house platform experience, HYCM may be the better fit.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and HYCM (Henyep Capital Markets) both deliver mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, offers 30 built-in technical studies for charting, lets you draw trendlines, and auto-saves your chart annotations. Overall, the core charting and alert tools are similar, and both brokers earned 4 out of 5 stars for Mobile Trading Apps.
There are a few differences to note. BlackBull Markets syncs your watchlists across mobile and the web, so changes carry over between devices, while HYCM does not offer watchlist syncing. In ForexBrokers.com’s Mobile Trading Apps rankings, BlackBull placed 27th out of 63 brokers, compared with HYCM at 30th. If seamless watchlist syncing matters to you, BlackBull has the edge; otherwise, traders will find comparable mobile features with either broker.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing the market research at BlackBull Markets vs HYCM (Henyep Capital Markets), both brokers provide daily market commentary and an economic calendar to track key events. HYCM stands out for offering forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while BlackBull Markets does not include this premium news feed.
When it comes to research tools, BlackBull Markets includes Autochartist and a sentiment tool showing long/short positioning, whereas HYCM offers Trading Central’s research suite. Neither broker features TipRanks or Acuity Trading. For overall research, BlackBull Markets is rated 4 stars and ranked #16 out of 63 brokers by ForexBrokers.com, while HYCM earns 3.5 stars and ranks #29. Choose HYCM if you value premium news and Trading Central; pick BlackBull Markets if Autochartist and sentiment insights are a priority.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners, both BlackBull Markets and HYCM offer forex and CFD learning with at least 10 pieces of content. Each provides 10-plus beginner-friendly videos that explain trading basics in plain terms. BlackBull goes further with 10-plus advanced videos for when you’re ready to level up, while HYCM’s advanced catalog is thinner.
Live learning is another differentiator: BlackBull hosts client webinars at least once a month; HYCM does not. Reflecting these differences, ForexBrokers.com rates BlackBull 4 stars for Education (ranked #24 of 63) and HYCM 3.5 stars (ranked #27). If you want a deeper video library and regular webinars to guide your early steps, BlackBull has the edge; if you simply need beginner videos to get started, both brokers can fit the bill.
| Feature |
BlackBull Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than HYCM (Henyep Capital Markets). BlackBull Markets finished with an overall rank of #22, while HYCM (Henyep Capital Markets) finished with an overall rank of #26.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
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HYCM (Henyep Capital Markets)
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|---|---|---|
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| Trust Score | 78 | 86 |
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In a quick comparison, online brokers BlackBull Markets and HYCM (Henyep Capital Markets) do not support buying actual (delivered) cryptocurrencies, but both do offer cryptocurrency CFD trading.
Comparing online brokers BlackBull Markets and HYCM (Henyep Capital Markets): neither supports ACH or SEPA transfers or PayPal for deposits and withdrawals, both accept Skrill and bank wire transfers, and Visa/Mastercard availability is not specified for either.
Please 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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0 of 5| Overall Rating | BlackBull Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | BlackBull Markets | HYCM (Henyep Capital Markets) | |
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| Regulation | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 78 | 86 | |
| Year Founded | 2014 | 1977 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 1199 | |
| Forex Pairs (Total) | 72 | 70 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.16 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.76 | 0.6 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | BlackBull Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | BlackBull Markets Review | HYCM (Henyep Capital Markets) Review |
| Overall | BlackBull Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HYCM (Henyep Capital Markets) Review |
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