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 and HYCM both offer low-cost trading, but IC Markets has the edge for commissions and fees. IC Markets earned a 5-star rating and ranked #4 out of 36 brokers for this category, thanks to very tight spreads and low commission charges on its Raw Spread and cTrader Raw Spread accounts. Its EUR/USD all-in cost can be as low as 0.62 pips on cTrader, while the MT4/MT5 Raw Spread account comes in around 0.72 pips. It also offers a commission-free Standard account with an average spread of 0.62 pips, which is a simple option for beginners.
HYCM is still competitive, but it is not as cheap overall as IC Markets. HYCM received a 4.5-star rating and ranked #18 out of 36 brokers for commissions and fees. Its Raw account is the most cost-friendly choice, with an all-in EUR/USD cost of about 0.6 pips after commission. However, its Classic account starts from 1.2 pips, and its fixed-spread account is higher at 1.5 pips, which makes those options less appealing for traders focused on low fees.
In short, IC Markets is the stronger pick for traders who want the lowest possible costs and more flexible account choices, especially active forex traders who can benefit from volume discounts. HYCM offers fair pricing on its Raw account, but IC Markets is better known for keeping trading costs closer to the lowest levels in the market.
| 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 (Henyep Capital Markets) both give traders a free demo account, plus the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, along with desktop and web-based trading access. Each broker also lets users trade directly from charts, which can make it easier to place orders while watching market moves. In ForexBrokers.com’s Trading Platforms and Tools category, both brokers are rated 4 out of 5 stars, showing that each offers a solid set of trading tools for everyday traders.
The main difference is that HYCM offers its own proprietary platform, while IC Markets does not. IC Markets, however, stands out for copy trading, which HYCM does not offer. When it comes to overall category ranking, IC Markets places higher at #17 out of 36 brokers, compared with HYCM at #34. That makes IC Markets the stronger choice for trading platforms and tools overall, especially if copy trading is important to you.
| 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 give traders mobile access on iPhone and Android, plus price alerts and chart tools such as trendlines and auto-saving drawings. Neither broker offers watchlist symbol syncing between the mobile app and the online account, so watchlists do not update across devices. In everyday use, the two apps cover the key basics well for traders who want to monitor markets and manage trades on the go.
Where IC Markets has the edge is in charting support, with 32 technical studies compared with HYCM’s 30. Both mobile trading apps are rated 4 out of 5 stars, but IC Markets is ranked higher by ForexBrokers.com for mobile trading apps, coming in at #22 out of 36 brokers versus HYCM at #32. If you want the slightly stronger mobile charting experience, IC Markets stands out, while HYCM still offers a capable app for trading from your phone.
| 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.
IC Markets and HYCM (Henyep Capital Markets) both give traders useful market research tools, including daily market commentary, forex news from top sources like Bloomberg and Reuters, an economic calendar, and Trading Central insights. Neither broker offers Autochartist or Acuity Trading tools. In this area, both platforms cover the basics well, but IC Markets goes a step further with extra research features that can help traders make more informed decisions.
The main difference is that IC Markets offers a sentiment tool that shows how many traders are long or short, plus market research from TipRanks, while HYCM does not. That wider mix helps explain why IC Markets earns a higher research rating of 4 stars and ranks #21 out of 36 brokers, compared with HYCM’s 3.5 stars and #32 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.
When comparing IC Markets and HYCM (Henyep Capital Markets) for beginner learning tools, IC Markets comes out ahead for overall education. IC Markets offers forex and CFD education with at least 10 learning pieces, monthly online client webinars, and at least 10 beginner videos plus 10 advanced videos. That gives new traders more ways to learn the basics and keep building their skills over time. It also helps that IC Markets is rated 4 stars for Education and is ranked #16 out of 36 brokers by ForexBrokers.com in this category.
HYCM also gives beginners some useful support, including at least 10 beginner trading videos and forex or CFD education with at least 10 learning pieces. However, it does not offer monthly educational webinars, and it lacks at least 10 advanced videos for more experienced traders. HYCM is rated 3.5 stars for Education and is ranked #28 out of 36, which suggests it has fewer learning options overall than IC Markets for traders who want a wider mix of educational content.
| 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) | 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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