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 |
IC Markets and HYCM both keep trading costs competitive, but IC Markets generally comes out cheaper for active forex traders. IC Markets posts ultra-tight effective spreads and low commissions that rival other low-cost brokers, helping it earn Best in Class honors for Commissions & Fees in 2024. Rating and rank: IC Markets 5/5 stars, ranked #5 of 63 for Commissions & Fees; HYCM 4.5/5 stars, ranked #16 of 63.
IC Markets offers three account types: Standard (spread-only), Raw Spread on MetaTrader (MT4/MT5), and cTrader Raw. Typical EUR/USD pricing shakes out as follows: cTrader Raw averages about 0.62 pips all-in (0.02 pip spread plus commission equal to 0.6 pips), MT4/MT5 Raw is about 0.72 pips all-in ($3.5 per side, $7 round turn per 100k), and the Standard account is commission-free with an average spread near 0.62 pips. Spreads vary by platform and by IC Markets’ regulated entities (Cyprus, Australia, Seychelles). High-volume traders (100+ lots/month) can qualify for discounts, and the low deposit requirement helps cost-conscious traders get started.
HYCM’s pricing is straightforward across three account types. The Raw account targets an all-in cost around 0.6 pips on EUR/USD after commission, making it the most competitive option for cost-focused traders. The Classic account uses variable spreads starting from 1.2 pips, while the Fixed account lists a 1.5-pip spread for those who prefer predictable pricing. Overall, HYCM is sharp on its Raw account but trails IC Markets on average costs and awards recognition.
| 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 vs HYCM: both support forex trading as contracts for difference (CFDs) or spot. IC Markets lists 3,583 tradeable symbols versus HYCM’s 1,199, but HYCM offers more currency choices with 70 forex pairs to IC Markets’ 61. If you want to buy real shares, HYCM supports exchange‑traded securities on U.S. markets, while IC Markets does not; both provide access to international exchanges for actual shares. IC Markets also offers copy trading, which HYCM lacks. For crypto, both brokers offer cryptocurrency derivatives, but neither lets you buy actual coins.
For range of investments, IC Markets is rated 4.5/5 stars and ranks 26th out of 63 brokers at ForexBrokers.com, while HYCM is rated 4/5 stars and ranks 34th. Pick IC Markets if you want a larger overall instrument list and copy trading, or choose HYCM if access to U.S.-listed shares and a slightly wider set of forex pairs matters more.
| 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 vs HYCM for trading platforms and tools: Both brokers provide free demo (paper) accounts, Windows desktop and web-based platforms, and support MetaTrader 4 (MT4) and MetaTrader 5 (MT5). HYCM also has a proprietary (in‑house) platform, while IC Markets sticks to third‑party platforms. For copy trading, IC Markets offers options including ZuluTrade; HYCM does not support copy trading. Neither broker offers DupliTrade.
For charting and ease of use, both let you place trades directly from charts, include 15 drawing tools, and offer seven watchlist columns. Each earns 4 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com, though IC Markets ranks higher (#16 of 63) than HYCM (#41 of 63). Choose HYCM if you want an in‑house platform; pick IC Markets if copy trading and ZuluTrade are priorities.
| 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.
IC Markets and HYCM both offer iPhone and Android trading apps. Each app includes real-time watchlists, price alerts, and charting with 30 technical studies. You can draw trendlines, switch among intraday, daily, and weekly time frames, and your drawings auto-save. One caveat: neither broker syncs watchlist symbols between the mobile app and the web platform, so edits made on one won’t automatically reflect on the other.
Both mobile trading apps earn 4 stars from ForexBrokers.com. However, IC Markets places higher in the category, ranking 22nd out of 63 brokers, while HYCM ranks 38th. If a stronger industry ranking matters to you, IC Markets has the edge; if you’re focused on day-to-day features, the two apps are effectively on par.
| 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 cover key market research needs: daily market commentary, forex news from major sources like Bloomberg, Reuters, or Dow Jones, Trading Central analysis, and a full economic calendar. According to ForexBrokers.com, IC Markets holds a 4-star Research rating and ranks 23rd out of 63 brokers, while HYCM has 3.5 stars and ranks 36th.
The main differences come down to extra tools. IC Markets includes Autochartist to help spot chart patterns and potential trade ideas, plus a sentiment tool that shows the long/short split across instruments. HYCM does not offer Autochartist or a sentiment tool. Neither broker features TipRanks or Acuity Trading (Signal Centre). If you want added screening and sentiment alongside the basics, IC Markets has the edge; if you only need daily commentary, reliable news, Trading Central insights, and an economic calendar, HYCM covers the essentials.
| 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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|---|---|---|
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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) | |||
| 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/Central Bank 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. 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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