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 are both well-established online brokerage firms serving traders globally. IC Markets, founded in 2007, and HYCM, established in 1977, both hold 2 Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com standards. Neither broker is publicly traded nor operates as a bank, maintaining their focus solely on brokerage services.
When comparing their trust ratings, IC Markets has a ForexBrokers.com Trust Score of 84, categorizing it as a trusted broker, whereas HYCM scores slightly higher with 86, signifying marginally stronger trust. HYCM also holds an additional Tier-2 license, further enhancing its credibility. Both firms strive to provide reliable trading environments, though HYCM edges out in terms of regulatory standing.
| 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 |
When comparing IC Markets and HYCM (Henyep Capital Markets) in terms of commissions and fees, IC Markets stands out with top-tier trading costs. Thanks to its small effective spreads and low deposit requirement for commission-based accounts, IC Markets competes with the best in low-cost forex trading, earning a Best in Class title in the Commissions & Fees category for 2024. Clients can choose from the Standard account, which is commission-free, and the commission-based Raw Spread and cTrader Raw Spread accounts. For those using cTrader, a commission of $3.0 per side per 100,000 units applies, slightly lower than the $3.5 per side for MetaTrader accounts. This makes IC Markets a versatile choice for both budget-conscious traders and those seeking flexibility, with an all-in EUR/USD cost as low as 0.62 pips. The broker earned a 5-star rating and ranks #5 among 63 brokers in its category.
HYCM, on the other hand, offers a competitive pricing structure, particularly with its Raw account, which boasts an all-in cost of approximately 0.6 pips for EUR/USD trading after commission. While its Classic account presents a higher spread starting from 1.2 pips, there's an option for a fixed-spread account with a consistent spread of 1.5 pips. This provides traders with varied options depending on their trading preferences and strategies. HYCM's commission and fee structure has earned it a commendable 4.5-star rating, ranking #15 out of 63 brokers for its category.
Both IC Markets and HYCM cater well to different trading styles and objectives. IC Markets offers more competitive rates for high-volume traders, with additional discounts available for those trading over 100 standard lots per month. Meanwhile, HYCM’s offerings may appeal to traders preferring a fixed-spread or seeking simplicity in fee structures. Overall, each broker provides a distinct set of advantages depending on what traders value most in their trading experience.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $200 | $20 |
| Average Spread EUR/USD - Standard | 0.62 | 1.2 |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
IC Markets and HYCM (Henyep Capital Markets) both offer forex trading through CFDs or spot contracts, allowing a wide variety of trading opportunities. However, IC Markets stands out with a broader selection of 3,583 tradeable symbols compared to HYCM's 1,199. While HYCM offers a slightly greater number of forex pairs with 70 compared to IC Markets' 61, IC Markets compensates with the availability of copy trading and a high volume of other trading opportunities, including international exchange-traded securities.
When it comes to trading in cryptocurrencies, both brokers provide options for trading cryptocurrency derivatives but do not offer actual cryptocurrency purchases. Additionally, HYCM allows clients access to exchange-traded securities on U.S. exchanges, like Apple's shares, which IC Markets does not. Both platforms facilitate the trading of international equities, such as Vodafone shares. Despite these distinctions, both are highly rated, with IC Markets receiving 4.5 stars and a ranking of #25 from ForexBrokers.com, slightly ahead of HYCM's 4-star rating and #33 rank, highlighting IC Markets' slightly more expansive and adaptable range of investments.
| 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. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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.
IC Markets and HYCM (Henyep Capital Markets) both cater heavily to traders who value a comprehensive suite of platforms and tools. Traders can expect a seamless experience from both brokers, with each providing a web-based and Windows desktop trading platform. Both brokers support MetaTrader 4 and MetaTrader 5, and they offer a virtual demo account for simulated trading. While IC Markets stands out in its support of copy trading and ZuluTrade, HYCM appeals to traders seeking proprietary tools through its in-house platform. Furthermore, both brokers enable users to engage and analyze markets with 15 drawing tools for charting.
Ranked by ForexBrokers.com, IC Markets shines with a #16 position among 63 brokers for trading platforms and tools, fetching 4 out of 5 stars. Meanwhile, HYCM holds a respectable #40 rank with the same star rating. Both platforms allow trades directly from stock charts, and their watch lists feature seven columns to cater to various trading needs. Although they align in many aspects, IC Markets’ additional capabilities in copy and social trading might attract those looking to deepen their trading strategies with diverse automated options.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| 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 choosing between IC Markets and HYCM for mobile trading, both platforms cater well to traders on the go by providing dedicated iPhone and Android apps. These apps allow users to receive price alerts for stocks and forex, enhancing the real-time trading experience. They both offer an array of 30 technical studies for in-depth chart analysis and the capability to draw trendlines, supporting traders in making informed decisions. Furthermore, users can seamlessly switch between different time frames, whether daily, weekly, or intraday, on these apps.
However, there are some differences to consider. While both apps allow the creation of watchlists with real-time quotes, neither provides the convenience of watchlist symbol syncing between devices. Also noteworthy is that both apps auto-save chart drawings for easy access across sessions. In terms of app ratings, both are evenly matched with a solid 4-star rating for mobile trading. But when ranked by ForexBrokers.com, IC Markets holds a higher position at #22 compared to HYCM at #37, potentially giving it a slight edge for those passionate about mobile trading influence in this platform category.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IC Markets and HYCM both provide daily market commentary and offer forex news from prestigious sources like Bloomberg and Reuters. However, IC Markets stands out by offering additional research tools including access to Autochartist, whereas HYCM does not. Both brokers include Trading Central's technical analysis tools, providing valuable insights for traders. Furthermore, IC Markets offers a sentiment-based trading tool that showcases the ratio of long or short positions across various instruments, a feature HYCM lacks. While neither platform includes market research from TipRanks or Acuity Trading's tools, both brokers supply an economic calendar to track global economic events, helping traders stay informed in the evolving market landscape.
When it comes to research ratings, IC Markets holds a slight edge with a 4-star rating, compared to HYCM’s 3.5 stars. This difference is reflected in their standings, with IC Markets ranked 23rd among 63 brokers in the Research category according to ForexBrokers.com, while HYCM holds the 35th position. These factors make IC Markets a more favorable option for traders prioritizing comprehensive research tools and market analysis features. HYCM, meanwhile, remains a solid choice for traders looking for essential market coverage and useful analytical resources.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | 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 educating beginners in trading, IC Markets offers more comprehensive resources compared to HYCM (Henyep Capital Markets). Both brokers provide a solid selection of over 10 educational pieces focused on forex and CFDs, but IC Markets stands out by hosting monthly webinars, which HYCM does not. In addition, IC Markets includes a searchable archive of past webinars and an investor dictionary containing over 50 investment terms, mirroring the offerings from HYCM. However, IC Markets goes further by providing more advanced educational videos for seasoned traders, which augments its appeal to those seeking to deepen their trading knowledge.
IC Markets holds a slight edge in educational resources by delivering high-quality materials that cater to both beginners and advanced traders. Its robust video library, complimented by live and archived webinars, earned it an education rating of four out of five stars and a commendable position as the 16th ranked broker out of 63 for education on ForexBrokers.com. On the other hand, HYCM, with its education rating of 3.5 stars, is ranked 32nd, indicating that while it provides a substantial foundation for beginners, it lacks some of the more advanced educational opportunities that IC Markets offers.
| Feature |
IC Markets
|
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 IC Markets is better than HYCM (Henyep Capital Markets). IC Markets finished with an overall rank of #20, while HYCM (Henyep Capital Markets) finished with an overall rank of #29.
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 | 84 | 86 |
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Both IC Markets and HYCM (Henyep Capital Markets) do not provide the option to purchase actual cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
IC Markets and HYCM both support Skrill, Visa or Mastercard, and bank wire transfers for deposits and withdrawals, but only IC Markets offers PayPal as an option, while neither offers ACH or SEPA transfer services.
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 | 84 | 86 | |
| 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 | 84 | 86 | |
| 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| 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 | IC Markets | 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 | 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | HYCM (Henyep Capital Markets) Review |
| Overall | IC Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HYCM (Henyep Capital Markets) Review |
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