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.
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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 |
When it comes to commissions and fees, Charles Schwab offers some attractive features for forex traders. Notably, Schwab does not have a minimum deposit requirement for its primary brokerage accounts, which could be appealing for those just starting in forex trading. Schwab provides access to its thinkorswim platform through two account types: Schwab One and Schwab Global. The Schwab One account allows traders to settle trades, including forex, in U.S. dollars and requires a minimum margin of $500 for trading 10,000 units of currency. Schwab Global, on the other hand, grants access to twelve international markets in local currencies, although conversion fees ranging from 0.2% to 1% may apply. Schwab doesn't charge commissions for forex but relies on the bid/ask spread, with the EUR/USD average spread at 1.35 pips as of October 2024. Schwab is rated four stars for commissions and fees, ranking #24 out of 63 brokers by ForexBrokers.com.
HYCM (Henyep Capital Markets), in comparison, offers competitive pricing, especially with its Raw account. This account type features an all-in cost of approximately 0.6 pips for the EUR/USD after commission, making it attractive for cost-efficient trading. Meanwhile, the Classic account has a variable spread starting at 1.2 pips, and for those who prefer fixed costs, HYCM offers a fixed-spread account with a spread of 1.5 pips. HYCM's cost structure allows traders to choose an account type that best suits their trading style and need for cost predictability. With a higher commission and fees rating of 4.5 stars and a ranking of #15 out of 63 brokers by ForexBrokers.com, HYCM stands as a strong contender in the forex trading space.
| 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.
Charles Schwab and HYCM (Henyep Capital Markets) both offer diverse opportunities for trading enthusiasts, yet their offerings differ significantly. Charles Schwab stands out with a vast selection of 40,000 tradeable symbols compared to 1,199 from HYCM. Both brokers provide forex trading as a CFD or spot contract, with Schwab offering 73 forex pairs and HYCM offering 70. Traders can invest in exchange-traded securities on both U.S. and international exchanges with each broker, such as purchasing Apple shares in the U.S. and Vodafone shares in the U.K. While the two brokers don't support copy trading, they do provide access to cryptocurrency derivatives, though neither allows buying of actual cryptocurrencies.
Charles Schwab's extensive range of investments has earned it a top-tier 5-star rating, placing it at #5 out of 63 brokers in ForexBrokers.com's Range of Investments category. On the other hand, HYCM is rated slightly lower with 4 stars and holds the #33 spot in the same category. These ratings highlight Schwab's broader scope of investment options, offering traders more variety and flexibility, while HYCM presents itself as a commendable platform with a strong, albeit narrower, range of offerings.
| 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.
When comparing the trading platforms and tools of Charles Schwab and HYCM (Henyep Capital Markets), both brokers cater to traders seeking comprehensive features with some distinct differences. Charles Schwab offers a proprietary platform developed in-house, a Windows-based desktop download, and a web-based platform. It provides a free virtual demo account for simulated trading, allowing users to test strategies without risk. Schwab is highly rated with five stars for trading platforms and tools, ranking #5 out of 63 brokers on ForexBrokers.com. It stands out with an impressive 580 columns for watch lists, making it versatile for traders who value extensive customization and detailed insights.
Conversely, HYCM also presents a proprietary platform available on both Windows-based desktops and web browsers, along with a free virtual demo account. HYCM gains a competitive edge by offering popular third-party platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are favored by forex traders for their advanced features. Despite lacking copy trading and certain other functionalities like ZuluTrade or DupliTrade, HYCM is rated four stars for trading platforms and tools and ranked #40 by ForexBrokers.com. It provides 15 drawing tools for chart analysis and allows trading directly from stock charts, accommodating traders focused on technical analysis.
| 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 devices, ensuring easy access to trading on the go. Users can receive stock or forex price alerts directly on their devices from both brokers. While both platforms provide the essential features of watchlists and real-time quotes, Charles Schwab goes a step further by allowing watchlist symbol sync with the online account. This means that any changes made to the watchlist in one location will seamlessly reflect in the other, an advantage not available with HYCM.
When it comes to charting tools, Charles Schwab significantly surpasses HYCM, offering 374 technical studies compared to HYCM's 30. Both apps support drawing trendlines and viewing multiple time frames on stock or forex charts, with drawings automatically saved for future reference. In terms of user ratings, Charles Schwab receives top marks with a 5-star rating, while HYCM is rated at 4 stars. Additionally, Charles Schwab ranks sixth out of 63 brokers for mobile trading apps on ForexBrokers.com, whereas HYCM is positioned at thirty-seventh, highlighting Charles Schwab's edge over HYCM in the mobile trading arena.
| 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.
When comparing Charles Schwab and HYCM for market research, both offer daily market commentary and provide forex news from top sources like Bloomberg and Reuters. However, while both brokers supply an economic calendar to track global news events, they diverge in certain tools they offer. Charles Schwab lacks technical analysis from firms like Autochartist and Trading Central, whereas HYCM does provide tools from Trading Central, enhancing its research offering. Unfortunately, neither broker offers sentiment-based trading tools, TipRanks market research, or resources from Acuity Trading.
Charles Schwab has earned a stellar five-star research rating and ranks #4 among 63 brokers on ForexBrokers.com, reflecting its strong performance in this category. On the other hand, HYCM, with a 3.5-star rating, is positioned at #35 in the same ranking. The difference in rankings showcases Charles Schwab's edge in research capabilities, despite certain limitations in advanced research tools that both platforms share. This comparison highlights how Charles Schwab excels overall, while HYCM still offers some noteworthy features that may appeal to specific traders.
| 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
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HYCM (Henyep Capital Markets)
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|---|---|---|
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| Trust Score | 99 | 86 |
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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.
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0 of 5| Overall Rating | Charles Schwab | HYCM (Henyep Capital Markets) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | Charles Schwab | HYCM (Henyep Capital Markets) | |
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| 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) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
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