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.
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.
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) - Spread-only account | 0.8 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | 0.72 | 0.6 |
| Non-wire bank transfer (Deposit/Withdraw) | 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 offer forex trading as CFDs, and both let clients trade cryptocurrency CFDs rather than actual crypto. Where IC Markets stands out is in the sheer number of markets available, with 7,435 tradeable symbols compared with 1,199 at HYCM. IC Markets also includes copy trading, which HYCM does not.
HYCM has the edge for investors who want access to real shares, since it offers exchange traded securities on both U.S. and international exchanges, while IC Markets does not. HYCM also lists more forex pairs, with 70 compared with IC Markets’ 61. Based on range of investments, 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.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7435 | 1199 |
| Forex Pairs (Total) | 61 | 70 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | 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) | 32 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and HYCM (Henyep Capital Markets) both offer mobile trading apps for iPhone and Android, and both include stock and forex price alerts. Each app also lets you draw trendlines on charts and automatically saves those drawings, which can make it easier to track trading ideas on the go. Neither broker offers watchlist symbol syncing, so changes made in the mobile app do not carry over to the online account, and vice versa.
When it comes to charting tools, IC Markets has a slight edge with 32 technical studies in its mobile app, compared with 30 at HYCM. Both brokers are rated 4 out of 5 stars for Mobile Trading Apps, but IC Markets is ranked higher by ForexBrokers.com, placing #22 out of 36 brokers versus HYCM at #31. Overall, both apps cover the basics well, while IC Markets offers a bit more charting depth.
| 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 | 32 | 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, both IC Markets and HYCM (Henyep Capital Markets) give traders useful daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar for tracking key global events. Both brokers also include Trading Central tools for technical insights, while neither offers Autochartist or Acuity Trading. This means each platform covers the basics well for traders who want news, updates, and event tracking in one place.
IC Markets has the edge overall thanks to extra research features that HYCM does not provide, including a sentiment tool that shows how many traders are buying or selling a pair, as well as market research from TipRanks. That wider set of tools helps explain why IC Markets earns a stronger research rating of 4 stars and ranks #21 out of 36 brokers, compared with HYCM’s 3.5 stars and #30 ranking.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | Yes | 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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|---|---|---|
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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) | 7435 | 1199 | |
| Forex Pairs (Total) | 61 | 70 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | 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) - Spread-only account | 0.8 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | 0.72 | 0.6 | |
| Inactivity Fee | Yes | 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 (Deposit/Withdraw) | 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) | 32 | 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 | 32 | 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 | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | 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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