Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs IronFX, 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.
HYCM (Henyep Capital Markets) and IronFX are well-established players in the online brokerage scene, with HYCM in operation since 1977 and IronFX since 2010. Both firms are privately owned and are not listed on any stock exchanges. Additionally, neither of them is a bank. When it comes to regulatory credentials, HYCM holds two Tier-1 licenses and one Tier-2 license, whereas IronFX holds three Tier-1 licenses and no Tier-2 licenses, indicating both have a significant level of oversight, though through slightly different regulatory frameworks.
According to ForexBrokers.com, HYCM boasts a Trust Score of 86, classifying it as a trusted brokerage, while IronFX holds a Trust Score of 83, placing it in the same trusted category. These scores suggest a reliable level of trustworthiness and risk management, though potential clients might consider the difference in the number and types of licenses each broker holds as part of their decision-making process. Whether prioritizing years in operation or the number of top-tier regulatory licenses, both brokers offer attributes that cater to various trader preferences and needs.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing commissions and fees, HYCM (Henyep Capital Markets) generally comes out cheaper than IronFX. HYCM earns 4.5/5 stars and ranks #16 out of 63 brokers for Commissions and Fees on ForexBrokers.com, while IronFX earns 4/5 stars and ranks #47. HYCM’s pricing tends to be sharper, especially for active traders, whereas IronFX’s typical spreads appear higher than the industry average.
HYCM offers multiple account types: the Raw account delivers an all-in cost of about 0.6 pips on EUR/USD (after commission), the Classic account has variable spreads starting from 1.2 pips, and the fixed-spread account is set at 1.5 pips. Traders looking for the lowest pricing will likely prefer the Raw account, while spread-only options are available if you want to avoid per-trade commissions.
IronFX lists a typical spread of 1.8 pips for its Standard variable spread account (no date range provided, and pricing varies by account type). Its zero fixed-spread account can start at 0 pips but adds a $18 per lot commission, and spreads are widened to 3 pips overnight. In practical terms, HYCM’s Raw account often provides tighter overall costs, while IronFX may appeal to those seeking zero spreads during peak hours—provided you factor in the commission and overnight widening.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Minimum Deposit | $20 | $50 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
HYCM (Henyep Capital Markets) vs IronFX: both support forex trading as CFDs or spot. HYCM lists 1,199 tradeable symbols, far more than IronFX’s 340, while IronFX offers more currency pairs (83 vs HYCM’s 70). HYCM also lets clients buy exchange‑traded stocks (not CFDs) on both U.S. and international exchanges; IronFX does not. For crypto, neither broker offers actual coins, but both provide cryptocurrency derivatives. IronFX supports copy trading, whereas HYCM does not.
Ratings and rankings reflect these differences: HYCM earns 4 out of 5 stars for Range of Investments and ranks 34th out of 63 brokers on ForexBrokers.com, while IronFX scores 3.5 stars and ranks 52nd. Pick HYCM if you want a wider overall product list and access to real shares on U.S. and global markets; pick IronFX if you value a larger selection of forex pairs and copy trading.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 340 |
| Forex Pairs (Total) | 70 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
HYCM (Henyep Capital Markets) and IronFX both offer free demo accounts plus Windows desktop and web-based trading platforms. HYCM adds a proprietary (in‑house) platform, while IronFX sticks to third-party options. Both support MetaTrader 4 (MT4), and only HYCM adds MetaTrader 5 (MT5). IronFX includes copy trading, whereas HYCM does not. Neither broker integrates DupliTrade or ZuluTrade. Each lets you trade directly from charts and includes 15 drawing tools (indicator counts not specified), and both provide watch lists with 7 fields. In testing, HYCM scored 4 stars and ranked 41st out of 63 for trading platforms and tools; IronFX scored 3.5 stars and ranked 62nd.
Pick HYCM if you want MT5 or prefer an in‑house platform; pick IronFX if copy trading is a priority. Since both offer demo accounts, you can try their web and Windows platforms risk‑free to find the layout and tools that fit your trading style.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
HYCM (Henyep Capital Markets) and IronFX both deliver iPhone and Android trading apps with the core tools traders expect. You can set forex and stock price alerts, build watchlists with real-time quotes, and study charts on the go. Each app offers 30 technical indicators, drawing tools such as trendlines, multiple time frames (from intraday to weekly), and auto-saving for chart drawings. One limitation to note: neither broker syncs watchlist symbols between the mobile app and your online account.
Performance scores show the main difference. In ForexBrokers.com’s Mobile Trading Apps category, HYCM is rated 4 out of 5 stars and ranks 38th out of 63 brokers, while IronFX earns 3.5 stars and ranks 63rd. If you want a higher-rated mobile experience with similar features, HYCM has the edge. If you already use IronFX, its app covers the essentials but sits lower in the rankings.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| 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.
Comparing HYCM (Henyep Capital Markets) vs IronFX for market research: both brokers publish daily market commentary and stream forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Each offers Trading Central analytics, an economic calendar, and neither includes Autochartist or a sentiment tool that shows long/short positioning.
Where they differ: HYCM does not offer TipRanks or Acuity Trading tools, while IronFX’s support for those two providers isn’t specified. On overall quality, IronFX holds a higher research score (4 stars, ranked #29 of 63) versus HYCM (3.5 stars, ranked #36 of 63). If you want Trading Central and timely news in your platform, both fit the bill; if TipRanks or Acuity Trading matter to you, HYCM doesn’t include them and you’ll want to confirm availability with IronFX.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by HYCM and IronFX, both brokers cater effectively to beginners eager to learn about forex and CFDs. They each provide over 10 educational pieces like articles and videos, along with archives of past client webinars, making them valuable for learners who wish to deepen their knowledge at their own pace. However, neither broker offers live educational webinars monthly, which could be a drawback for those seeking real-time learning experiences. For beginners, both platforms also offer a wealth of video content specifically designed to ease newcomers into the world of trading.
HYCM and IronFX ensure that beginners have access to essential terminology with comprehensive investor dictionaries, each featuring over 50 investing terms. While HYCM finds itself ranked higher by ForexBrokers.com, IronFX has managed to earn a slightly better user rating of 4 stars compared to HYCM’s 3.5 stars. While both brokers provide a great start for beginners, their lack of advanced educational videos and live webinars for more experienced traders could limit the learning curve for those who progress beyond the basics. For novices ready to start their trading education, both HYCM and IronFX present solid options, with IronFX having a slight edge in user satisfaction.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 HYCM (Henyep Capital Markets) is better than IronFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while IronFX finished with an overall rank of #48.
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)
|
IronFX
|
|---|---|---|
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| Trust Score | 86 | 83 |
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Both HYCM (Henyep Capital Markets) and IronFX do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Both HYCM (Henyep Capital Markets) and IronFX support Skrill, Visa or Mastercard, and bank wires for deposits and withdrawals, but neither offers ACH, SEPA, or PayPal as transaction 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 | HYCM (Henyep Capital Markets) | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | IronFX | |
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| Broker Gallery (click to expand) |
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| Regulation | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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) | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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) |
| Investments | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 340 | |
| Forex Pairs (Total) | 70 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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) | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $50 | |
| PayPal (Deposit/Withdraw) | No | 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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) | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
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