Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs iFOREX, 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.
Founded in 1977, HYCM (Henyep Capital Markets) is an experienced online broker that holds a solid standing in the trading community. With two Tier-1 licenses, HYCM demonstrates a strong level of trust and security. It is not publicly traded and is not a bank, but its regulatory credentials establish its reputation. HYCM carries a Trust Score rating of 86, placing it comfortably in the 'trusted' category. This reflects its reliable regulatory oversight and commitment to safeguarding investor interests over its many years of operation.
In comparison, iFOREX has been in the market since 1996 and maintains a stable position as a brokerage service provider, holding one Tier-1 license. Similar to HYCM, iFOREX is neither publicly traded nor a bank. However, it possesses a slightly lower Trust Score rating of 75, which is considered an average risk according to ForexBrokers.com. This difference in regulatory licenses and Trust Score indicates that while both brokers offer secure platforms, HYCM might provide a slightly higher degree of confidence for cautious investors seeking a trusted trading environment.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Year Founded | 1977 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online brokers HYCM (Henyep Capital Markets) and iFOREX, HYCM stands out for offering competitive commissions and fees. Their Raw account features an appealing all-in cost of about 0.6 pips for the EUR/USD, making it a cost-effective option for traders. In contrast, HYCM’s Classic account begins with a higher variable spread starting from 1.2 pips, and they also have a fixed-spread account with a spread of 1.5 pips. Unfortunately, iFOREX does not provide average spread data, making direct comparisons less straightforward.
HYCM emerges as a leader in the commissions and fees category, boasting a high rating of 4.5 stars out of 5. This places them at #15 out of 63 brokers ranked by ForexBrokers.com. On the other hand, iFOREX garners a more modest rating of 3 stars, ranking them much lower at #61. This significant difference highlights HYCM's advantage in offering more attractive pricing structures for traders.
In summary, for traders prioritizing cost efficiency, HYCM appears to be the better choice over iFOREX. With clear, competitive pricing and a strong ranking, HYCM offers a more transparent fee structure that can benefit a variety of trading strategies. Meanwhile, the absence of comprehensive spread data from iFOREX makes evaluating their pricing less transparent, potentially making them a less desirable option for cost-conscious traders.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $20 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of HYCM (Henyep Capital Markets) and iFOREX, both platforms provide opportunities for forex trading through CFDs or spot contracts. HYCM edges ahead with a total of 1,199 tradeable symbols, whereas iFOREX offers 750. Despite having fewer total tradeable options, iFOREX provides a choice of 88 forex pairs compared to HYCM’s 70. Both brokers offer access to cryptocurrency derivatives, although actual cryptocurrency purchases are not available.
For clients looking to invest in exchange-traded securities, HYCM holds a notable advantage. Investors can purchase U.S. and international stocks, such as Apple and Vodafone, directly on their platform. iFOREX, however, does not provide the option to buy exchange-traded securities. When it comes to ratings for the range of investments, HYCM is rated four stars and ranks 33 out of 63 brokers, whereas iFOREX holds 3.5 stars and ranks 41. Neither broker offers a copy trading feature, which might be a consideration for those seeking social trading opportunities.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 750 |
| Forex Pairs (Total) | 70 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
When comparing the trading platforms and tools offered by HYCM (Henyep Capital Markets) and iFOREX, there are notable differences that cater to different trader preferences and needs. HYCM stands out with its offering of a simulated trading environment through a free virtual demo account, a feature iFOREX does not provide. Both brokers have developed their proprietary platforms, allowing for unique user experiences. However, HYCM provides more flexibility by offering a Windows-based desktop platform alongside web-based trading options, whereas iFOREX limits users to a web platform only. An advantage for traders using HYCM is the availability of the widely popular MetaTrader 4 and MetaTrader 5 platforms, which are not available with iFOREX. While both do not offer copy trading or popular social trading platforms like ZuluTrade and DupliTrade, the availability of more platform options at HYCM could appeal to traders who appreciate flexibility and choice.
For those interested in charting and watch list tools, iFOREX offers an edge with 25 drawing tools compared to HYCM's 15, and it also provides slightly more columns for watch lists, with 9 as opposed to HYCM's 7. Both brokers allow trading directly from stock charts, making quick decision-making easier. Despite the variances in tool offerings, both HYCM and iFOREX receive a four-star rating for their trading platforms and tools. However, HYCM ranks slightly higher in industry evaluations, coming in at #40 out of 63 brokers on ForexBrokers.com, whereas iFOREX is ranked at #54. This makes HYCM a potentially stronger choice for those who prioritize the availability of multiple trading platforms and demo trading capabilities, while iFOREX might appeal to traders who favor enhanced charting tools.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of HYCM (Henyep Capital Markets) and iFOREX, both brokers provide apps for iPhone and Android users. However, the two platforms show significant differences in features that may impact trading experience. HYCM stands out by offering a comprehensive suite of charting tools with the ability to draw trendlines, auto-save drawings, and access multiple time frames. It also enables users to set up stock or forex price alerts, a feature unavailable in iFOREX's app. Moreover, while both brokers allow the creation of watchlists, HYCM enhances this by offering real-time quotes, giving traders an edge in making timely decisions.
HYCM offers 30 technical studies for chart analysis in its mobile app, further enhancing its appeal to traders who rely on detailed analysis for decision-making. In contrast, iFOREX does not provide information on technical studies available, which may limit in-depth market analysis. Even though neither platform supports watchlist symbol syncing, HYCM's additional features contribute to a more dynamic trading experience. Despite both brokers receiving a four-star rating for their mobile trading apps, HYCM ranks higher on ForexBrokers.com, at #37 out of 63 brokers, compared to iFOREX at #55. This difference reflects HYCM's stronger feature set and better overall user experience.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
HYCM and iFOREX both cater to traders seeking daily market commentary and provide essential updates through various research tools. HYCM distinguishes itself by offering forex news from prestigious sources such as Bloomberg and Reuters, whereas iFOREX lacks this feature. However, both brokers benefit from the technical analysis tools provided by Trading Central, empowering traders with valuable insights. While HYCM does not offer sentiment-based trading tools that display the long or short positions across currency pairs, iFOREX does, giving its users an edge in understanding market sentiment.
In terms of additional research tools from companies like Autochartist or Acuity Trading, neither HYCM nor iFOREX offer these resources, and both lack market research from TipRanks. Although both brokers provide an economic calendar to keep traders informed about global news events, their overall research offerings are not as comprehensive as some might desire. Both brokers have earned a 3.5-star rating for research, with HYCM ranked slightly higher at #35 compared to iFOREX's #48 by ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, HYCM (Henyep Capital Markets) offers a more comprehensive experience compared to iFOREX. HYCM provides numerous educational materials with at least ten pieces focusing on forex and CFDs, catering to novices who wish to explore trading fundamentals. Additionally, HYCM offers a searchable archive of previously recorded webinars, increasing its appeal for those who prefer on-demand learning. With an investor dictionary boasting over 50 trading terms, beginners can more easily familiarize themselves with essential market concepts through HYCM's offerings.
On the other hand, iFOREX, while providing a credible learning experience through its educational videos aimed at beginners, falls short in other areas. It does not provide a significant quantity of forex and CFD educational pieces or an archive of past webinars. Moreover, the lack of a comprehensive investor dictionary may leave beginners seeking external resources for deeper learning. While both brokers share a similar rating for education at 3.5 stars, HYCM's broader array of educational tools places it higher in rankings, coming in at 32nd compared to iFOREX's 53rd place out of 63 brokers evaluated by ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that HYCM (Henyep Capital Markets) is better than iFOREX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while iFOREX finished with an overall rank of #52.
HYCM is a trusted brand that offers a straightforward MetaTrader platform experience. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central as well as exchange-traded securities (available through a separate platform). That said, HYCM offers a narrow range of symbols to forex and CFD traders.
| Feature |
HYCM (Henyep Capital Markets)
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iFOREX
|
|---|---|---|
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| Trust Score | 86 | 75 |
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Both HYCM (Henyep Capital Markets) and iFOREX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Comparing online brokers HYCM (Henyep Capital Markets) and iFOREX reveals that while both brokers offer Skrill, Visa/Mastercard, and bank wire options for depositing or withdrawing funds, only iFOREX provides PayPal as a funding method, whereas neither offers ACH or SEPA transfers.
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 | HYCM (Henyep Capital Markets) | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | iFOREX | |
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| Regulation | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Trust Score | 86 | 75 | |
| Year Founded | 1977 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 750 | |
| Forex Pairs (Total) | 70 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $20 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) Review |
| Overall | HYCM (Henyep Capital Markets) | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
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