Written by ForexBrokers.com
In this head to head comparison of IC 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.
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IC Markets and HYCM (Henyep Capital Markets) are established online brokers, founded in 2007 and 1977, respectively. According to the ForexBrokers.com Trust Score (out of 99), both sit in the “trusted” 80–89 range: IC Markets scores 83 and HYCM 85. Neither broker is publicly traded or operates as a bank.
For regulation, each holds two Tier-1 licenses, which ForexBrokers.com considers highly trusted. HYCM also holds one Tier-2 license (trusted), while IC Markets holds none. That added Tier-2 coverage likely contributes to HYCM’s slightly higher Trust Score, though both firms show solid top-tier oversight.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 2007 | 1977 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
IC Markets has very low trading costs, especially on its commission-based Raw Spread accounts. On EUR/USD, its all-in cost can be around 0.62 pips on cTrader and about 0.72 pips on MetaTrader, while the Standard account offers commission-free trading with an average spread of 0.62 pips. IC Markets also gives discounts to active traders who trade more than 100 standard lots per month. It is rated 5 stars and ranked #5 out of 36 for Commissions and Fees.
HYCM (Henyep Capital Markets) is also competitive, but its pricing depends more on the account you choose. The Raw account has an all-in EUR/USD cost of about 0.6 pips after commission, which is strong for cost-focused traders. Its Classic account is pricier, with variable spreads starting from 1.2 pips, and the fixed-spread account sits at 1.5 pips. HYCM is rated 4.5 stars and ranked #18 out of 36 for Commissions and Fees.
Overall, IC Markets is the better choice for traders who want lower costs and more account flexibility, especially if they plan to trade often. HYCM still offers solid pricing on its Raw account, but its other account types are generally more expensive. For commissions and fees, IC Markets comes out ahead in this comparison.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $200 | $20 |
| Average spread (EUR/USD) - Standard account | 0.62 | 1.3 |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and HYCM both let clients trade forex as CFDs or spot contracts, and both also offer cryptocurrency CFDs rather than actual crypto. When it comes to the overall product list, IC Markets has the wider selection with 3,583 tradeable symbols, compared with 1,199 at HYCM. IC Markets offers 61 forex pairs, while HYCM provides a slightly larger list of 70 pairs. Both brokers also give access to shares on international exchanges, but only HYCM offers exchange-traded securities on U.S. markets, such as Apple shares.
For extra features, IC Markets has copy trading, while HYCM does not. Based on the Range of Investments category, IC Markets is rated 4.5 out of 5 stars and ranked #22 out of 36 brokers by ForexBrokers.com, while HYCM is rated 4 out of 5 stars and ranked #28. Overall, IC Markets has the broader range of investments, while HYCM stands out for offering U.S. exchange-traded shares and a slightly larger forex pair list.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1199 |
| Forex Pairs (Total) | 61 | 70 |
| U.S. Stocks (Shares) | No | 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.
IC Markets and HYCM both give traders a solid set of platform choices, including free demo accounts, Windows desktop downloads, web-based trading, MetaTrader 4, MetaTrader 5, and the ability to place trades directly from charts. Both brokers also earn 4 out of 5 stars for Trading Platforms and Tools, so they each cover the basics well for most everyday traders. Neither broker stands out on the available charting or watch list details provided here, but both support the key features many users look for when comparing online brokers.
The biggest difference is that HYCM offers a proprietary platform built in-house, while IC Markets does not. On the other hand, IC Markets offers copy trading and HYCM does not, which may matter if you want to follow other traders instead of placing every trade yourself. In ForexBrokers.com’s Trading Platforms and Tools ranking, IC Markets sits higher at #17 out of 36 brokers, compared with HYCM at #33 out of 36, giving IC Markets the edge overall in this category.
| Feature |
IC 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) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and HYCM (Henyep Capital Markets) are evenly matched in several key mobile app features. Both brokers offer iPhone and Android apps, price alerts, 30 technical studies for charting, trendline drawing, and auto-saving of chart drawings. Neither broker offers watchlist symbol syncing between the mobile app and online account, so watchlists do not update across devices.
Where they differ is in overall mobile app ranking. Both IC Markets and HYCM are rated 4 out of 5 stars for Mobile Trading Apps, but IC Markets places higher at #22 out of 36 brokers on ForexBrokers.com, while HYCM ranks #31 out of 36. For traders looking for a similar set of mobile tools with a slightly better industry ranking, IC Markets has the edge, while HYCM still delivers a comparable app experience.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | 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.
When it comes to market research, IC Markets and HYCM (Henyep Capital Markets) both give traders daily market commentary, forex news from major sources such as Bloomberg, Reuters, and Dow Jones, plus an economic calendar for tracking global events. Both also include Trading Central tools, which can help with technical analysis. Neither broker offers TipRanks or Acuity Trading research tools.
That said, IC Markets has a slight edge overall thanks to extra research features like Autochartist and a sentiment tool that shows how traders are positioned across currency pairs and other instruments. HYCM does not offer those two features, and this is reflected in its lower research rating of 3.5 out of 5, compared with 4 out of 5 for IC Markets. In ForexBrokers.com’s research ranking, IC Markets is placed #21 out of 36 brokers, while HYCM sits at #30.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners who want to learn before they trade, IC Markets comes out ahead of HYCM (Henyep Capital Markets). IC Markets offers forex and CFDs education with at least 10 learning pieces, monthly educational webinars, and a strong library of beginner and advanced videos. That gives new traders more ways to build skills step by step, whether they prefer watching videos or joining live sessions.
HYCM also provides beginner trading videos and forex or CFDs education, but it falls short in a few key areas. It does not offer monthly educational webinars, and it does not have at least 10 advanced educational videos for more experienced traders. In ForexBrokers.com’s Education category, IC Markets is rated 4 stars and ranked #16 out of 36 brokers, while HYCM is rated 3.5 stars and ranked #27, making IC Markets the better pick for overall learning support.
| Feature |
IC 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 IC Markets is better than HYCM (Henyep Capital Markets). IC Markets finished with an overall rank of #21, while HYCM (Henyep Capital Markets) finished with an overall rank of #26.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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HYCM (Henyep Capital Markets)
|
|---|---|---|
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| Trust Score | 83 | 85 |
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IC Markets and HYCM (Henyep Capital Markets) do not offer purchasing actual (delivered) cryptocurrencies, but both brokers support trading cryptocurrency CFDs.
In the IC Markets vs HYCM (Henyep Capital Markets) comparison for deposit and withdrawal methods, both lack ACH/SEPA but offer Skrill and bank wire transfers; IC Markets also supports PayPal while HYCM does not, 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 | IC Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | IC Markets | HYCM (Henyep Capital Markets) | |
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| Regulation | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 83 | 85 | |
| Year Founded | 2007 | 1977 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1199 | |
| Forex Pairs (Total) | 61 | 70 | |
| U.S. Stocks (Shares) | No | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $200 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC 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 | No | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC 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 | IC Markets Review | HYCM (Henyep Capital Markets) Review |
| Overall | IC Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HYCM (Henyep Capital Markets) Review |
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