Written by ForexBrokers.com
In this head to head comparison of Charles Schwab 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.
When comparing Charles Schwab and HYCM (Henyep Capital Markets), both well-established online brokers, there are notable differences in their regulatory credentials and investment offerings. Founded in 1971, Charles Schwab is an established financial institution that is publicly traded and operates as a bank. With a ForexBrokers.com Trust Score of 99 out of 99, Schwab is considered a highly trusted broker. It holds five Tier-1 licenses, reinforcing its reputation for reliability and security. On the other hand, HYCM, founded in 1977, is not publicly traded and does not operate as a bank. It holds two Tier-1 licenses and one Tier-2 license, earning a Trust Score of 86 out of 99, which positions it as a trusted broker but not at the same level as Charles Schwab.
The regulatory landscape for these two brokers underscores distinct approaches to securing client trust and navigating the financial market. Charles Schwab's status as a bank and stock exchange listing provide additional layers of trust and scrutiny, appealing to those seeking stability and a comprehensive financial service provider. Meanwhile, HYCM, while also trusted, focuses on providing solid brokerage services without the additional banking services that Schwab offers. These differences highlight the importance of understanding each broker's regulatory standing and service offerings when making decisions about online trading.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 1971 | 1977 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
For pure forex pricing, HYCM is generally cheaper. Its Raw account delivers an all-in cost around 0.6 pips on EUR/USD (after commission), while the Classic account has variable spreads from 1.2 pips and the Fixed account holds at 1.5 pips. Charles Schwab doesn’t charge a separate commission for forex; your cost is the spread. In October 2024, Schwab’s average EUR/USD spread was 1.35 pips, which is on the higher side compared to many competitors. Schwab also shows overnight financing (carry) in a calculator on the thinkorswim platform so you can estimate holding costs. Spreads and financing rates can change with market conditions.
Schwab has no minimum deposit for its main brokerage accounts and offers access to thinkorswim (and forex trading) through the Schwab One account, with all trades settled in U.S. dollars. The smallest trade size is 10,000 units; at 20:1 leverage, that implies about $500 in margin for a 10k position. If you want to place international stock orders in the local currency from a Schwab One account, you’ll need to call by phone. Alternatively, the Schwab Global account lets you trade in 12 international markets in local currencies, with currency conversion fees of roughly 0.2% to 1% depending on your balance—better suited for investors who frequently deal with multiple currencies.
Ratings and rankings for commissions and fees: HYCM earns 4.5 out of 5 stars and ranks #16 out of 63 brokers at ForexBrokers.com. Charles Schwab earns 4 out of 5 stars and ranks #25 out of 63. In short, HYCM tends to offer lower forex trading costs, while Schwab emphasizes U.S.-dollar settlement and access to the thinkorswim platform, plus options for international market access through Schwab Global.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 1.35 | 1.2 |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing the range of investments at Charles Schwab and HYCM (Henyep Capital Markets), both brokers let you trade forex as CFDs or spot and offer exchange-traded securities on U.S. and international exchanges. Both also provide access to cryptocurrency derivatives, but neither lets you buy actual crypto or use copy trading. Where they differ is scale: Charles Schwab lists about 40,000 tradeable symbols versus HYCM’s 1,199, and Schwab edges out HYCM on forex pairs (73 vs. 70). If you want a very wide menu of stocks, funds, and markets alongside forex, Schwab offers more choice; HYCM covers the key categories but with a smaller catalog.
For range of investments, ForexBrokers.com rates Charles Schwab at 5 stars and ranks it #5 out of 63 brokers, while HYCM earns 4 stars and ranks #34. In short, both brokers support core markets across the U.S. and abroad and include forex and crypto derivatives, but Charles Schwab stands out for its much larger selection.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1199 |
| Forex Pairs (Total) | 73 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
Charles Schwab and HYCM both offer free paper trading (demo accounts), in-house proprietary platforms, Windows desktop downloads, and web-based trading. Each lets you place orders directly from charts, and neither supports copy trading, DupliTrade, or ZuluTrade. A key difference: HYCM supports MetaTrader 4 and MetaTrader 5, while Charles Schwab does not. Indicator counts aren’t specified for either broker.
For charting and organization, Schwab provides 24 drawing tools and an extensive 580 watchlist columns, while HYCM offers 15 drawing tools and 7 watchlist columns. According to ForexBrokers.com, Schwab earns 5 stars and ranks #5 out of 63 brokers for Trading Platforms and Tools, whereas HYCM earns 4 stars and ranks #41. In short, Schwab stands out for deep customization and platform features, while HYCM appeals to traders who want MetaTrader access alongside a proprietary platform.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and HYCM offer mobile trading apps for iPhone and Android. Each app supports real-time price alerts, customizable watchlists with live quotes, multiple chart time frames, drawing tools like trendlines, and auto-saved annotations. The biggest day-to-day difference is syncing: Schwab syncs your watchlists between the mobile app and your online account so changes carry over automatically, while HYCM does not.
For charting depth, Schwab includes 374 built-in technical studies versus HYCM’s 30, giving active traders far more indicator choices on the go. That advantage shows up in third-party scores: Schwab earns a 5-star mobile rating and ranks #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while HYCM holds a 4-star rating and ranks #38. If you want richer charts and seamless watchlist syncing, Schwab stands out; if you only need essentials, HYCM covers the basics on both iPhone and Android.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab vs. HYCM (Henyep Capital Markets): both deliver daily market commentary, top-tier forex news (from outlets like Bloomberg, Reuters, or Dow Jones), and an economic calendar. In independent ratings, Schwab leads with 5 stars for Research and a #4 ranking out of 63 brokers at ForexBrokers.com, while HYCM holds 3.5 stars and ranks #36.
When it comes to tools, neither broker offers Autochartist, TipRanks, Acuity Trading tools, or a sentiment gauge showing long/short positioning. The key difference is Trading Central: HYCM provides it, while Charles Schwab does not. Pick HYCM if Trading Central’s technical analytics are important to your trading routine; choose Charles Schwab if you want higher-rated research backed by daily commentary, top-tier news, and a clear economic calendar.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners provided by Charles Schwab and HYCM, there are notable distinctions. Both brokers offer over ten educational pieces focused on forex or CFDs, ensuring that beginners have access to foundational knowledge and resources. However, Charles Schwab stands out by offering monthly online educational webinars, which HYCM does not. This feature allows Schwab users to engage with up-to-date market insights and gain timely expertise. Furthermore, both brokers provide searchable archives of previously recorded client webinars, making it easy for newcomers to revisit important content at their own pace.
In terms of educational videos, Charles Schwab and HYCM each cater to beginners with a substantial selection of videos covering basic trading topics. However, Schwab extends its offerings with additional advanced educational videos tailored for experienced traders, which HYCM lacks. Both brokers supply an investor dictionary with definitions for over 50 investing terms, supporting a well-rounded educational experience. Reflecting these differences, Charles Schwab boasts a higher education rating of 5 stars compared to HYCM's 3.5 stars—an evaluation backed by Schwab's #6 ranking out of 63 brokers in the education category by ForexBrokers.com, while HYCM ranks at #32.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than HYCM (Henyep Capital Markets). Charles Schwab finished with an overall rank of #6, while HYCM (Henyep Capital Markets) finished with an overall rank of #29.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
In comparing online brokers Charles Schwab and HYCM (Henyep Capital Markets), neither offers the ability to purchase actual (delivered) cryptocurrencies, but both provide options for buying cryptocurrency derivatives.
When comparing the online brokers Charles Schwab and HYCM, Charles Schwab accommodates ACH and SEPA transfers, as well as bank wires for fund transactions, while HYCM supports Skrill, Visa, Mastercard, and bank wires, but does not offer ACH or SEPA transfers; neither platform accepts PayPal for deposits or withdrawals.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1971 | 1977 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1199 | |
| Forex Pairs (Total) | 73 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
| Overall | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill