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 HYCM and IronFX in terms of commissions and fees, HYCM offers a range of accounts that cater to different trading needs. HYCM's Raw account stands out with competitive pricing, featuring an all-in cost of approximately 0.6 pips for the EUR/USD pair after accounting for commission. Those interested in a Classic account should note that spreads start from a higher 1.2 pips. For traders preferring a stable spread, HYCM provides a fixed-spread account with a spread of 1.5 pips. Rated 4.5 out of 5 stars, HYCM is recognized for its cost-effective trading options, ranking 15th out of 63 brokers for commissions and fees by ForexBrokers.com.
In contrast, IronFX displays potential for improvement in its pricing structure as its spreads tend to be above the industry average. For its Standard variable spread account, IronFX lists a typical spread of 1.8 pips, but variations occur across different account types. Their zero fixed-spread account entices with a starting point of zero but incurs a commission of $18 per lot and spreads widen to 3 pips overnight. With a 4-star rating, IronFX is ranked 46th out of 63 brokers in the ForexBrokers.com commissions and fees category.
| 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) and IronFX both offer appealing options for forex trading, providing a choice of CFDs or spot contracts. While HYCM presents a more expansive selection of 1,199 tradeable symbols, IronFX offers a more modest selection of 340 symbols. In terms of forex pairs, IronFX leads slightly with 83 pairs compared to HYCM's 70. However, when it comes to purchasing actual exchange-traded securities, HYCM provides access to both U.S. and international markets, allowing clients to invest in companies like Apple and Vodafone, which is not available through IronFX.
For those interested in cryptocurrency, both brokers offer the option to trade cryptocurrency derivatives but not the actual cryptocurrencies themselves. One key difference between the two is in copy trading capabilities, with IronFX offering this feature while HYCM does not. Based on ratings, HYCM scores a commendable 4 stars for range of investments, positioning it at #33 among 63 brokers, whereas IronFX earns 3.5 stars, placing it at #51. Overall, both brokers offer valuable investment opportunities, but HYCM might appeal more to clients looking for a broader range of tradeable assets and direct investment options.
| 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 cater to traders seeking convenient online trading solutions. While each broker offers a free demo account for experimenting with strategies and learning the ropes without financial risk, HYCM distinguishes itself with its proprietary platform, adding a tailored touch to its offerings. Both brokers provide compatibility with MetaTrader 4, with HYCM further extending its platform compatibility to MetaTrader 5. For trading from a desktop computer, both offer Windows-based platforms and web-based options for convenience. On the flip side, only IronFX offers copy trading, appealing to those interested in mirroring the moves of successful traders.
When diving deeper into charting capabilities and trading tools, both HYCM and IronFX come equipped with 15 drawing tools and the ability to execute trades directly from a chart, enhancing ease of use. Watchlist functionality is fairly even, with both brokers providing seven fields for customization. Despite these similarities, HYCM edges out in user ratings for trading platforms and tools, achieving 4 stars compared to IronFX's 3.5 stars, according to ForexBrokers.com. This is further supported by HYCM's higher ranking, placing 40th out of 63 brokers, compared to IronFX's 61st position in the same category.
| 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.
When it comes to mobile trading apps, both HYCM (Henyep Capital Markets) and IronFX cater to iPhone and Android users, offering convenient platforms for traders on the go. Both brokers equip their apps with stock and forex price alerts, providing timely updates for traders. Charting capabilities are also strong in both apps with 30 technical studies each and tools for trendline drawing and viewing multiple time frames. Watchlist functionality is present too, allowing for the creation of real-time quote watchlists, although, neither broker supports watchlist symbol syncing between mobile and online accounts. The mobile apps ensure convenience by auto-saving chart drawings, making the trading experience seamless.
Despite these similarities, HYCM edges out IronFX in user satisfaction. With a rating of 4 stars for its mobile trading app compared to IronFX's 3.5 stars, HYCM demonstrates a slightly enhanced user experience. ForexBrokers.com ranks HYCM significantly higher at #37 out of 63, whereas IronFX is positioned at #62. This suggests that while both brokers deliver on essential features, HYCM's app is perceived as more favorable by users and experts alike in the competitive landscape of mobile trading.
| 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.
When comparing the market research offerings of HYCM (Henyep Capital Markets) and IronFX, both brokers provide valuable resources for traders. Each broker offers daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, ensuring that traders stay informed about the latest market developments. Additionally, both provide technical analysis tools from Trading Central, which can help traders make more informed decisions. Although neither broker offers tools from Autochartist or Acuity Trading, and both lack sentiment-based trading tools or TipRanks market research, they do include comprehensive economic calendars that display current and upcoming global news events.
Despite these similarities, IronFX slightly outpaces HYCM in research offerings according to ForexBrokers.com rankings and ratings. IronFX earns a 4-star research rating and ranks 28th out of 63 brokers, while HYCM receives a 3.5-star rating and is placed at 35th. This distinction may reflect subtle differences in the quality or user experience of the research tools and resources available to traders through each platform. However, both brokers present solid options for traders seeking daily insights and technical analysis support.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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
|
|---|---|---|
| Overall Rating |
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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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| 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) | 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) | IronFX | |
|---|---|---|---|
| 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) | 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 | 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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