Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs FXOpen, 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 considering online brokers, HYCM (Henyep Capital Markets) and FXOpen both stand as notable choices, particularly when it comes to trust and regulatory standing. Established in 1977, HYCM offers a longstanding presence in the market and holds two Tier-1 licenses, reflecting its strong regulatory backing. Additionally, it has one Tier-2 license, contributing to its respectable Trust Score of 86 out of 99, which places HYCM in the 'trusted' category according to ForexBrokers.com. Despite its impressive credentials, HYCM is neither a publicly traded company nor a bank.
FXOpen, founded in 2003, also holds two Tier-1 licenses which demonstrate a commitment to regulatory standards. However, it does not hold any Tier-2 licenses, which gives it a Trust Score of 76 out of 99, categorizing it as 'average risk'. Like HYCM, FXOpen is not publicly traded and operates outside the banking sector. While both brokers present appealing options for online trading, HYCM offers slightly more trustworthiness according to the ratings, owing to its combination of Tier-1 and Tier-2 licenses.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Year Founded | 1977 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to comparing online brokers for commissions and fees, HYCM (Henyep Capital Markets) offers a variety of account types to suit different trading preferences. The Raw account stands out with competitive pricing, providing an all-in cost of about 0.6 pips for the EUR/USD, including commission fees. For those opting for the Classic account, expect a variable spread starting from 1.2 pips. Additionally, HYCM offers a fixed-spread account with a spread of 1.5 pips.
On the other hand, FXOpen's commission and fees structure is less transparent due to the lack of available average spread data. This makes direct cost comparison with other brokers a bit challenging. Nonetheless, both brokers aim to cater to traders seeking efficient trading conditions across different financial markets.
In terms of ratings, HYCM impressively scores 4.5 out of 5 stars, securing the 15th position out of 62 brokers for commissions and fees according to ForexBrokers.com. FXOpen, meanwhile, garners a solid 4-star rating, positioned at number 45 in the same rankings. These ratings reflect each broker's overall competitiveness in pricing and fee structures.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $20 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the available range of investments, HYCM and FXOpen each have their own distinct offerings. HYCM stands out with a significantly larger selection, offering 1,199 tradeable symbols compared to FXOpen's 87. Forex enthusiasts will find HYCM appealing with its 70 tradeable forex pairs, while FXOpen offers 25 pairs. Additionally, HYCM provides the opportunity to trade exchange-traded securities on both U.S. and international exchanges, enabling clients to invest directly in companies like Apple and Vodafone. In contrast, FXOpen does not offer this feature.
Both brokers accommodate forex trading through CFDs or spot contracts and provide the ability to trade cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. HYCM is known for its broad investment range, earning 4 stars for Range of Investments and ranking #33 out of 62 brokers according to ForexBrokers.com. FXOpen, meanwhile, offers a feature HYCM does not—copy trading—though it ranks lower at #61 in the same category and holds a 3-star rating. For investors seeking diverse opportunities, HYCM's broader offerings may be advantageous, whereas FXOpen could appeal to those interested in socially-driven trading options.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 87 |
| Forex Pairs (Total) | 70 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
HYCM and FXOpen both provide traders with powerful tools and platforms to enhance their trading experience. Both brokers offer a free demo account, allowing users to practice their strategies without financial risk. While both have Windows-based desktop and web-based platforms, HYCM stands out with its proprietary platform. On the other hand, FXOpen offers the popular copy trading feature and supports ZuluTrade, whereas HYCM does not. Both brokers support industry staples MT4 and MT5, ensuring traders have access to familiar and user-friendly interfaces.
When it comes to charting tools, both brokers offer 15 drawing tools and the capability to trade directly from stock charts, making technical analysis easy and efficient. For organization, both provide seven columns for watch lists. Despite these similarities, there are distinctions in how they are rated and ranked. HYCM holds a four-star rating for its trading platforms and tools category, ranking 40th out of 62 brokers on ForexBrokers.com. Conversely, FXOpen also earns a four-star rating but is positioned at 53rd, suggesting that individual needs and expectations should guide choice between these two brokers.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of HYCM and FXOpen, both brokers offer apps for iPhone and Android devices, which are equipped with features such as stock or forex price alerts and the ability to create watchlists with real-time quotes. Each app supports up to 30 technical studies for charting, and provides traders with tools to draw trendlines and view multiple time frames on stock or forex charts. However, HYCM stands out by offering auto-save functionality for chart drawings, a feature FXOpen lacks. Unfortunately, neither app supports watchlist symbol syncing, meaning changes made within the app do not sync with a client’s online account.
While HYCM and FXOpen both receive a solid four-star rating for their mobile apps, there is a notable difference in how they rank among 62 brokers. HYCM takes a higher spot at #37, compared to FXOpen’s lower rank of #54, according to ForexBrokers.com. This suggests HYCM might provide a slightly more favorable experience for mobile traders overall. Both trading apps deliver essential tools for traders, but those valuing the convenience of auto-saving drawings might prefer HYCM over FXOpen.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both HYCM (Henyep Capital Markets) and FXOpen offer daily market commentary as well as forex news from leading sources like Bloomberg and Reuters, ensuring that traders have access to the latest financial information. However, when it comes to advanced analytical tools, HYCM has the upper hand by providing resources from Trading Central, such as Technical Analytics. In contrast, FXOpen does not offer these specific tools, potentially limiting the scope of technical analysis available to its users.
When looking at economic calendars, both brokers offer this feature, highlighting current and upcoming global events. Nonetheless, the research quality at HYCM is rated slightly higher at 3.5 stars compared to FXOpen's 3 stars, according to industry ratings. Furthermore, HYCM is ranked 35th out of 62 brokers on ForexBrokers.com for research, whereas FXOpen is placed last, at 62nd. This indicates a stronger market research offering from HYCM, making it a preferable choice for traders who prioritize comprehensive research tools.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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 it comes to educational resources for beginners in the trading world, HYCM (Henyep Capital Markets) clearly has the upper hand over FXOpen. HYCM provides an impressive array of learning material, offering more than 10 dedicated educational pieces focused on forex and CFDs. Their offerings include a searchable archive of recorded client webinars and a collection of videos tailored for beginners. Additionally, traders can benefit from an investor dictionary that explains over 50 key investing terms, making it a valuable resource for those new to trading. Although HYCM does not host monthly live educational webinars or offer many advanced educational videos, its overall educational support earns a rating of 3.5 stars and a ranking of 32 out of 62 brokers assessed by ForexBrokers.com.
In comparison, FXOpen falls short in terms of educational offerings for beginners. While they do have an investor dictionary with over 50 terms, they lack the extensive range of beginner-friendly educational resources that HYCM provides. FXOpen does not offer the same depth of learning materials, such as a large number of beginner videos or a webinar archive. This limited offering translates into a modest education rating of 3 stars and a lower ranking of 58 out of 62 brokers in the Education category according to ForexBrokers.com. For those prioritizing education, especially beginner resources, HYCM offers a more comprehensive educational experience than FXOpen.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that HYCM (Henyep Capital Markets) is better than FXOpen. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while FXOpen finished with an overall rank of #54.
HYCM is a trusted brand that offers a straightforward MetaTrader platform experience. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central as well as exchange-traded securities (available through a separate platform). That said, HYCM offers a narrow range of symbols to forex and CFD traders.
| Feature |
HYCM (Henyep Capital Markets)
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 76 |
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Both HYCM (Henyep Capital Markets) and FXOpen do not offer the ability to purchase actual delivered cryptocurrencies but provide the option to trade cryptocurrency derivatives.
Both HYCM (Henyep Capital Markets) and FXOpen provide options for depositing or withdrawing account funds via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal transactions.
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 | HYCM (Henyep Capital Markets) | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | FXOpen | |
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| Regulation | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Trust Score | 86 | 76 | |
| Year Founded | 1977 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 87 | |
| Forex Pairs (Total) | 70 | 25 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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). |
| Cost | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $20 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) Review |
| Overall | HYCM (Henyep Capital Markets) | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
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