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 comparing the commissions and fees of online brokers HYCM (Henyep Capital Markets) and FXOpen, several factors come into play. HYCM offers a variety of account types to cater to different trader needs. Its Raw account is particularly attractive with a competitive all-in cost of approximately 0.6 pips for the popular EUR/USD pair after the commission. Alternatively, the Classic account might be a better fit for those who prefer a variable spread starting from 1.2 pips, while a fixed-spread account option starts from 1.5 pips.
On the other hand, FXOpen's commission and fees structure remains less transparent, as average spread data is not readily available. This lack of detailed information can be a hurdle for traders who prioritize cost efficiency and transparency. In terms of costs, HYCM offers more clarity and options, making it a potentially more appealing choice for cost-conscious traders.
In terms of customer ratings and rankings, HYCM scores a commendable 4.5 out of 5 stars, securing its position at #15 among 63 brokers in the Commissions and Fees category, according to ForexBrokers.com. Meanwhile, FXOpen holds a 4-star rating and ranks at #44 in the same category. This comparison highlights HYCM's edge in providing competitively priced trading conditions, making it a preferable option for cost-savvy traders.
| 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 comparing the range of investments offered by HYCM and FXOpen, there's a notable difference in the breadth of options each broker provides. HYCM stands out with an impressive 1,199 tradeable symbols, while FXOpen offers 87. Both brokers allow for forex trading through CFDs or spot contracts, but HYCM provides a wider selection with 70 forex pairs as opposed to FXOpen's 25. Furthermore, HYCM allows trading of actual exchange-traded securities on both U.S. and international exchanges, enabling clients to buy shares in companies like Apple and Vodafone. In contrast, FXOpen does not offer trading in exchange-traded securities but supports copy trading, which HYCM does not.
Both brokers offer the ability to trade cryptocurrency derivatives, but neither supports purchasing real cryptocurrency. In terms of overall range of investments, HYCM is rated 4 stars, ranked 33rd out of 63 brokers, signifying a broader selection. In comparison, FXOpen is rated 3 stars and ranks 62nd, suggesting a more limited array of investment choices. These differences highlight HYCM as a more extensive platform for those looking to explore a diverse investment portfolio, particularly in traditional equities and forex pairs. Conversely, FXOpen might appeal to traders interested in utilizing copy trading strategies.
| 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.
When comparing the trading platforms and tools of HYCM and FXOpen, both brokers cater well to traders who like to test strategies with their free virtual demo accounts. HYCM stands out with its proprietary platform, giving users a unique interface developed in-house, a feature FXOpen doesn’t offer. Both platforms are compatible with desktop downloads on Windows and web-based trading. However, FXOpen impresses with its copy trading options, including support for ZuluTrade, a feature not found at HYCM. Both brokers offer MetaTrader 4 and MetaTrader 5, allowing traders to use advanced trading tools.
Charting capabilities for both brokerages include access to 15 drawing tools and the ability to trade directly from a stock chart, with 7 adjustable fields in the watch lists. Despite both earning a solid 4-star rating for their trading tools and platforms, HYCM outranks FXOpen in industry standings, being ranked #40 compared to FXOpen's #53 in the Trading Platforms and Tools category by ForexBrokers.com. Traders looking for a proprietary trading experience may lean towards HYCM, while those interested in copy trading features might find FXOpen more appealing.
| 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 (Henyep Capital Markets) and FXOpen, both platforms cater to iPhone and Android users, offering accessibility to their diverse features. Both apps allow traders to set price alerts for stocks and forex, making it easier for investors to stay updated on market movements. Additionally, users can make use of 30 technical studies for charting, draw trendlines, and view multiple time frames on both apps. However, a slight difference lies in the auto-saving of chart drawings; HYCM's app offers this feature, while FXOpen does not.
Both brokers' apps allow the creation of watchlists with real-time quotes, providing a real-time snapshot of market dynamics. While neither supports watchlist syncing between the mobile app and online accounts, HYCM edges ahead in ratings, with both earning 4 out of 5 stars for their mobile trading apps. Notably, ForexBrokers.com ranks HYCM higher at 37th out of 63 brokers, compared to FXOpen's 54th place, demonstrating HYCM's slight advantage in the realm of mobile trading technology.
| 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.
When it comes to market research capabilities, both HYCM (Henyep Capital Markets) and FXOpen deliver foundational resources such as daily market commentary and forex news sourced from top-tier providers like Bloomberg and Reuters. However, HYCM takes a step further by integrating Trading Central's technical analysis tools, which is absent in FXOpen's offerings. Despite both brokers lacking sentiment-based trading tools and research from platforms like TipRanks and Acuity Trading, each provides an economic calendar to keep traders informed about global economic events.
In terms of overall research performance, HYCM slightly outshines FXOpen, earning a 3.5-star rating compared to FXOpen's 3-star rating, according to ForexBrokers.com. The ranking reflects their standing among a competitive field of 63 brokers, where HYCM claims the 35th spot for research capabilities, whereas FXOpen lands at the 63rd position. This positioning suggests that while both brokers offer essential research tools, HYCM provides a more extensive suite for traders seeking enhanced insights.
| 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 beginner traders, HYCM stands out as a strong contender compared to FXOpen. HYCM offers a comprehensive range of educational materials related to forex and CFDs, boasting over ten articles, videos, or archived webinars that cover these subjects. Furthermore, HYCM has tailored its content for beginners, providing at least ten introductory videos on trading topics. Moreover, it offers a searchable archive of past webinars for clients looking to revisit specific discussions. An added advantage is their investor dictionary, which defines over 50 investing terms, helping newcomers get familiar with essential jargon.
On the other hand, FXOpen does not match the educational breadth provided by HYCM. While FXOpen does offer an investor dictionary with definitions of more than 50 key investing terms, it lacks variety in educational features. FXOpen fails to meet the minimum of ten forex or CFD related educational pieces and does not provide targeted beginner content or a library of recorded webinars. As a result, FXOpen's educational rating is slightly lower at three stars, as compared to HYCM's 3.5 stars. In rankings for educational offerings among 63 brokers, HYCM holds the 32nd position, while FXOpen is placed at 58th, reflecting HYCM's more robust education support for aspiring traders.
| 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 63 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 |
|
|
| Trust Score | 86 | 76 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | FXOpen | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill