Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and HYCM (Henyep Capital Markets) are both established online brokers, with IG founded in 1974 and HYCM in 1977. A key difference lies in their exchange status: IG is publicly traded, enhancing its transparency, while HYCM remains privately held. Moreover, IG operates as a bank, offering an additional layer of security for investors, a feature that HYCM does not share. These differences are crucial for traders seeking stability and public accountability in their chosen broker.
Regulatory strength is another area where IG and HYCM differ significantly. IG boasts an impressive 99 Trust Score from ForexBrokers.com, owing to its possession of 8 Tier-1 licenses and 2 Tier-2 licenses, making it highly trusted. In contrast, HYCM holds 2 Tier-1 licenses and 1 Tier-2 license, earning it a Trust Score of 86, indicating it is trusted but less so than IG. These scores reflect the perceived risk and reliability of each broker, with IG demonstrating superior regulatory oversight and client protection.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 1974 | 1977 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing IG and HYCM in terms of commissions and fees, both brokers offer distinct advantages for their clients. IG impresses with its diverse execution methods and scalable execution across various products. The broker offers competitive pricing for active traders through its Forex Direct accounts. In July 2023, IG's main Forex Direct account had an average spread of 0.62 pips and an all-in cost of 0.82 pips after including per-trade commissions. Additionally, IG's CFD accounts averaged 0.69 pips during the primary trading hours, which is slightly better than the industry average. Professional traders can benefit from active trader rebates with potential discounts up to 20% depending on their trading volume.
HYCM, on the other hand, provides competitive pricing with its Raw account, offering an all-in cost of approximately 0.6 pips for the EUR/USD pair after commission. For those seeking different pricing structures, HYCM also offers a Classic account with variable spreads starting at 1.2 pips and a fixed-spread account at 1.5 pips. This flexibility can be advantageous depending on your trading style and requirements. However, when it comes to overall cost-effectiveness, HYCM holds a slightly lower position compared to IG, with a four and a half star rating.
In terms of industry rankings, IG is rated highly for its commissions and fees, earning 5 stars and ranking 8th out of 63 brokers according to ForexBrokers.com. HYCM follows closely with a 4.5-star rating, ranking 15th in the same category. Both brokers offer compelling features, but IG stands out for active traders seeking optimized pricing through high trading volumes, while HYCM provides competitive options for those who prefer a lower initial trading cost.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | £250.00 | $20 |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | 0.6 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When considering IG and HYCM for online trading, IG stands out with an impressive array of 19,537 tradeable symbols compared to HYCM's 1,199. Both platforms offer forex trading via CFDs and spot contracts, yet IG provides access to 97 forex pairs while HYCM offers 70. Both brokers allow clients to trade exchange-listed securities on U.S. and international exchanges, enabling investments in well-known stocks like Apple and Vodafone. However, a key differentiator is IG's allowance for buying actual (delivered) cryptocurrency, an option not available with HYCM, though both offer cryptocurrency derivatives.
IG's expansive selection of investment options has earned it a 5-star rating for its range of investments, positioning it 4th out of 63 brokers according to ForexBrokers.com. In contrast, HYCM is rated 4 stars in the same category, holding a rank of 33. While both do not support copy trading, IG's broader selection of assets and the ability to purchase actual cryptocurrencies may appeal to traders seeking diverse and flexible investment opportunities.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 1199 |
| Forex Pairs (Total) | 97 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | 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.
Both IG and HYCM offer investors flexible and comprehensive trading platforms with several key similarities. They provide users with free virtual demo accounts, which can be invaluable for beginners looking to practice trading without financial risks. Both brokers have developed proprietary platforms in-house, and they offer desktop trading platforms for Windows, as well as web-based platforms for seamless trading experiences across devices. While both IG and HYCM support the popular MetaTrader 4 platform, HYCM stands out by also offering MetaTrader 5, giving traders access to the latest tools and functionalities. Unfortunately, neither broker currently supports copy trading services like DupliTrade or ZuluTrade.
When it comes to charting tools, IG excels with a more extensive array of drawing tools (20) compared to HYCM's 15. IG also offers the convenience of trading directly from stock charts, and both brokers provide this experience, enhancing trading agility. However, for those who value watch list features, HYCM offers more columns (7) than IG's 5, providing a bit more flexibility in tracking assets. In ratings, IG shines with a perfect 5-star score for Trading Platforms and Tools, ranked #2 by ForexBrokers.com among 63 brokers, highlighting its well-rounded and user-friendly offerings. Meanwhile, HYCM, with a 4-star rating and ranked #40, provides a commendable experience but marginally trails behind data-wise.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and HYCM both offer comprehensive mobile trading apps for iPhone and Android users, enabling traders to buy and sell on the go. Both apps provide essential features like stock and forex price alerts and the ability to draw trendlines or view multiple time frames on charts. However, when it comes to synchronizing watchlists, IG shines with seamless syncing between its mobile app and online accounts, whereas HYCM lacks this feature. IG also provides a slightly richer experience for those interested in technical analysis, offering 33 technical studies compared to HYCM's 30.
In terms of user ratings and rankings, IG secures an impressive 5-star rating, topping the chart with a number one ranking for Mobile Trading Apps among 63 brokers on ForexBrokers.com. On the other hand, HYCM, while respectable, holds a 4-star rating and ranks further down the list at 37. Both platforms allow traders to create watchlists with real-time quotes and automatically save chart drawings, but IG's efforts in offering a more integrated mobile trading experience are reflected in its higher user satisfaction and industry rankings.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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.
Both IG and HYCM (Henyep Capital Markets) provide a solid foundation for market research by offering daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters. However, IG distinguishes itself with a comprehensive suite of research tools. IG offers features from Autochartist, sentiment-based trading tools, and market insights from TipRanks and Acuity Trading, providing a well-rounded research experience. HYCM stands out by offering research tools from Trading Central but misses additional research insights like market sentiment tools and partner research services available at IG.
In terms of rankings, IG is highly rated for its research capabilities, receiving 5 stars and holding the 2nd position among 63 brokers according to ForexBrokers.com. Conversely, HYCM garners a modest 3.5 stars and is ranked 35th, reflecting a more basic research offering compared to IG. Both brokers share some common features, like offering an economic calendar, but IG's diverse and in-depth research tools give it a competitive edge in market analysis and insights, making it a preferable choice for traders seeking comprehensive market research capabilities.
| Feature |
IG
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to catering to beginners with educational resources, IG and HYCM both provide a variety of tools to get started with trading forex and CFDs. IG offers a comprehensive selection with more than 10 educational pieces, exceeding the minimum expectation for content. HYCM also meets this standard with a similar offering. However, IG stands out with its monthly online educational webinars, providing beginners with timely guidance and interaction opportunities, whereas HYCM does not offer such a feature monthly. Both platforms maintain searchable archives of recorded webinars, aiding learners who prefer to study on their own time.
Diving deeper into video content, IG continues to shine with over 10 beginner-friendly videos tailored to new traders. HYCM also supports newcomers with a comparable library. However, for those looking to advance, IG provides over 10 specialized videos for experienced traders, which is a level of depth not provided by HYCM. Both brokers offer an investor dictionary, covering numerous trading terms useful for all traders, beginners and seasoned alike. Reflecting these offerings, IG's commitment to education has earned it the distinction of being rated five stars and ranked as the top broker for education by ForexBrokers.com, while HYCM has a respectable 3.5-star rating, ranked 32nd among 63 brokers.
| Feature |
IG
|
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 IG is better than HYCM (Henyep Capital Markets). IG finished with an overall rank of #1, while HYCM (Henyep Capital Markets) finished with an overall rank of #29.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
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HYCM (Henyep Capital Markets)
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|---|---|---|
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| Trust Score | 99 | 86 |
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When comparing online brokers IG and HYCM, IG stands out by offering both the ability to buy actual delivered cryptocurrencies and cryptocurrency derivatives, whereas HYCM provides access only to cryptocurrency derivatives.
In comparing online brokers IG and HYCM, IG offers a wider selection of deposit and withdrawal options—including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires—while HYCM supports deposits and withdrawals through Skrill, Visa, Mastercard, and bank wires, lacking ACH, SEPA, and PayPal options.
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 | IG | HYCM (Henyep Capital Markets) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | IG | HYCM (Henyep Capital Markets) | |
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| Regulation | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1974 | 1977 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 1199 | |
| Forex Pairs (Total) | 97 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | 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 | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.6 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 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 | IG | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | HYCM (Henyep Capital Markets) Review |
| Overall | IG | HYCM (Henyep Capital Markets) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HYCM (Henyep Capital Markets) Review |
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