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 account | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HYCM (Henyep Capital Markets) and IronFX both let you trade forex as CFDs and spot, and both offer crypto CFDs (neither supports buying actual crypto). HYCM lists 1,199 tradeable instruments versus IronFX’s 340, but IronFX edges ahead in currency choice with 83 forex pairs to HYCM’s 70. A key divider is access to real stocks: HYCM lets you buy exchange-traded shares on U.S. and international markets (for example, Apple or Vodafone), while IronFX does not offer exchange-traded shares.
If you want social features, IronFX includes copy trading, whereas HYCM does not. For overall range of investments, HYCM earns 4 stars and ranks 34th out of 63 brokers at ForexBrokers.com, while IronFX scores 3.5 stars and ranks 52nd. In short, HYCM suits investors seeking a wider instrument list and the ability to own actual shares, while IronFX is better for traders focused on 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. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| 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.
HYCM (Henyep Capital Markets) and IronFX both offer free demo accounts and let you place trades directly from charts. Each broker provides a web-based platform, a Windows desktop download, and MetaTrader 4 (MT4). HYCM adds more choice with MetaTrader 5 (MT5) and its own proprietary platform, while IronFX focuses on MT4 and does not have an in-house platform. If you want copy trading, IronFX includes it; HYCM does not.
For trading platforms and tools, ForexBrokers.com rates HYCM at 4 stars (ranked 41st out of 63 brokers) and IronFX at 3.5 stars (ranked 62nd). In short, choose HYCM if you prefer MT5 and an extra in-house platform alongside MT4, or choose IronFX if built-in copy trading with MT4 on web and desktop is a priority.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HYCM (Henyep Capital Markets) and IronFX both offer iPhone and Android apps for trading on the go. Each app supports price alerts, includes 30 technical studies for charting, lets you draw trendlines, and auto-saves your chart drawings. One limitation to note: neither broker syncs watchlists between the mobile app and the web platform, so changes made in one place won’t appear in the other.
In overall quality, HYCM has the edge. HYCM’s mobile trading app is rated 4 stars, while IronFX earns 3.5 stars. According to ForexBrokers.com’s Mobile Trading Apps rankings out of 63 brokers, HYCM places #38 and IronFX ranks #63. If you’re comparing mobile trading apps for forex and CFDs, both cover the essentials, but HYCM scores higher in independent reviews.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | No | No |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
HYCM (Henyep Capital Markets) and IronFX both cater well to beginners with at least 10 video lessons that walk through the basics of forex and CFD trading. If you prefer learning through live sessions, note that neither broker hosts monthly educational webinars. Also, neither brand offers a deep catalog of advanced videos, so traders seeking more complex strategies may need to look elsewhere.
For education quality, IronFX earns 4 stars, while HYCM holds 3.5 stars. However, in ForexBrokers.com’s Education category, HYCM ranks higher at #32 out of 63 brokers, compared to IronFX at #44. In short: IronFX edges ahead on star rating for education, while HYCM places better in the overall education lineup. Choose based on what matters most—video-first beginner learning is strong with both, but neither provides regular webinars or extensive advanced content.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 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)
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IronFX
|
|---|---|---|
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| Trust Score | 86 | 83 |
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When comparing online brokers HYCM (Henyep Capital Markets) and IronFX, neither supports buying actual delivered cryptocurrencies, but both offer trading in cryptocurrency CFDs.
HYCM (Henyep Capital Markets) vs IronFX: HYCM does not support ACH/SEPA or PayPal, but supports Skrill and bank wire transfers (Visa/Mastercard not specified), while IronFX also does not support ACH/SEPA and its support for PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.
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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| 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, FSRA, or SCA 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. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $50 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | ||
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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