Interactive Brokers vs HYCM (Henyep Capital Markets) 2023

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Interactive Brokers is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

HYCM is not publicly traded and does operate a bank. HYCM is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one tier-4 regulator (High Risk). HYCM is authorised by the following Tier-1 regulators: the Securities Futures Commission (SFC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

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.

To open a trading account with Interactive Brokers, you'll need to make an initial minimum deposit of $0.

HYCM (Henyep Capital Markets) requires a minimum deposit of $20 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Interactive Brokers offers Bank Wire (Deposit/Withdraw) for banking, whereas HYCM (Henyep Capital Markets) provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Interactive Brokers offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Interactive Brokers holds 9 global Tier-1 licenses, while HYCM (Henyep Capital Markets) holds 3. Both Interactive Brokers and HYCM (Henyep Capital Markets) hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Interactive Brokers (99) earned a higher Trust Score than HYCM (Henyep Capital Markets) (88).

To compare the trading platforms of both Interactive Brokers and HYCM (Henyep Capital Markets), we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

Here’s what trading platforms are available at Interactive Brokers:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at HYCM (Henyep Capital Markets):

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to HYCM (Henyep Capital Markets)'s 70 available pairs. If you are interested in trading CFDs, Interactive Brokers offers traders access to 8500 CFDs, while HYCM (Henyep Capital Markets) offers access to 1199 CFDs; so Interactive Brokers offers 7301 more CFDs than HYCM (Henyep Capital Markets).

We found in our testing that Interactive Brokers offers a more diverse selection of investment options than HYCM (Henyep Capital Markets), allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD) and Cryptocurrency (Physical). Neither have Social Trading / Copy Trading and Spread Betting.