Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs LegacyFX, 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 LegacyFX are both online brokers offering trading services, yet their regulatory standings differ significantly. Founded in 1977, HYCM holds two Tier-1 licenses, which enhances its credibility among traders, and has a Trust Score of 86, categorizing it as a trusted broker according to ForexBrokers.com. In contrast, LegacyFX, which began operating in 2012, holds one Tier-1 license with no Tier-2 licenses, resulting in a Trust Score of 67. This positions LegacyFX as a broker with a higher risk profile compared to HYCM.
Neither HYCM nor LegacyFX is publicly traded or operates as a bank. Both brokers serve traders worldwide, but HYCM's longer history and higher regulatory trust levels may appeal more to those prioritizing security and trustworthiness in their trading experience. Choosing between the two, traders should weigh the importance of regulatory oversight and trust ratings in making informed investment decisions.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Year Founded | 1977 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online broker HYCM (Henyep Capital Markets) to LegacyFX, the differences in their commissions and fees become evident. HYCM's Raw account stands out with its competitive pricing of approximately 0.6 pips for the EUR/USD pair, including commissions. Meanwhile, its Classic account features a variable spread starting at 1.2 pips. Additionally, HYCM offers a fixed-spread account with a 1.5 pips spread. Notably, HYCM achieves a 4.5-star rating for commissions and fees and ranks #15 out of 63 brokers, highlighting its appeal to cost-conscious traders.
LegacyFX presents a more complex fee structure depending on the entity you choose. In the EU, three account types are available—Silver, Gold, and Platinum—with minimum deposits of $500, $5,000, and $25,000, respectively. Platinum account holders enjoy the lowest spreads, while Silver account holders face higher trading costs with spreads starting at a minimum of 1.6 pips for EUR/USD trades. For international clients under its Vanuatu entity, LegacyFX offers seven account types, influencing client support and tool access. However, the lack of average spread data makes it difficult to gauge the full trading costs, which reflects in its 3.5-star rating and #57 ranking out of 63 brokers.
Ultimately, HYCM appears to offer more transparent and competitive pricing across its accounts relative to LegacyFX. The higher star rating and better ranking further support HYCM's reputation as a cost-effective choice for traders. In contrast, LegacyFX's varying account options and associated costs may require a deeper evaluation to determine the best fit for individual trading needs.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $20 | $500 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| 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.
When it comes to the variety of investments available, both HYCM (Henyep Capital Markets) and LegacyFX provide forex trading as CFDs or spot contracts. However, HYCM stands out with a broader range of offerings. With a total of 1,199 tradable symbols including 70 forex pairs, it significantly surpasses LegacyFX, which offers 425 tradable symbols and 44 forex pairs. Additionally, HYCM allows clients to invest in exchange-traded securities on both U.S. and international exchanges, giving an edge over LegacyFX, which does not provide this feature. Both brokers offer cryptocurrency derivatives, but neither supports the purchase of actual cryptocurrencies.
In terms of unique features, LegacyFX provides copy trading, a function not supported by HYCM. Despite this, HYCM's extensive range of investment options has earned it a higher rating of 4 stars compared to LegacyFX's 3.5 stars in the Range of Investments category. According to ForexBrokers.com, HYCM ranks #33 out of 63 brokers, while LegacyFX is placed at #48, highlighting HYCM's more comprehensive investment offerings.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 425 |
| Forex Pairs (Total) | 70 | 44 |
| 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 LegacyFX both provide simulated trading through free virtual demo accounts, making them accessible for newcomers keen on gaining practice without financial risk. While both brokers offer Windows-based desktop and web-based trading platforms, HYCM distinguishes itself by providing a proprietary platform developed in-house, a feature not available with LegacyFX. Both brokers support MetaTrader 5 (MT5), but HYCM takes it a step further with the inclusion of MetaTrader 4 (MT4), an option not offered by LegacyFX. Despite both brokers allowing users to trade directly from stock charts and offering an identical range of 15 drawing tools for chart analysis, LegacyFX uniquely supports copy trading, a feature absent in HYCM’s offerings.
In terms of platform features like watch lists, both HYCM and LegacyFX cater to customized monitoring with seven columns for fields. However, HYCM generally scores higher in user ratings, achieving 4 stars for Trading Platforms and Tools compared to LegacyFX’s 3.5 stars. According to ForexBrokers.com, HYCM ranks 40th out of 63 brokers in this category, surpassing LegacyFX, which stands at 60th. Although neither broker supports additional services like DupliTrade or ZuluTrade, their comprehensive offerings ensure traders have various tools at their disposal, with HYCM taking a slight lead in terms of adaptability and user preference.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| 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 | No |
| MetaTrader 5 (MT5) | Yes | Yes |
| 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.
Both HYCM and LegacyFX offer mobile trading apps that are compatible with iPhone and Android devices, providing traders with the flexibility to monitor and manage their investments on the go. Each app allows users to set stock or forex price alerts and features charting capabilities with 30 technical studies available. Traders using these platforms can also draw trendlines and view multiple time frames such as daily, weekly, and intraday on their charts. Additionally, both apps support creating watchlists with real-time quotes and automatically save any drawings on stock or forex charts, ensuring a seamless trading experience.
Despite these similarities, there are some differences in user ratings and overall rankings for mobile trading apps. HYCM is rated four stars and holds the 37th position out of 63 brokers according to ForexBrokers.com, while LegacyFX has a slightly lower rating of 3.5 stars and is ranked 61st. This suggests that while both mobile apps offer an array of useful features, HYCM might provide a slightly more satisfactory experience overall. However, neither app currently supports watchlist symbol syncing between the mobile app and the client’s online account, which may be a consideration for some traders.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| 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.
For traders seeking insightful market research, both HYCM and LegacyFX offer valuable resources, including daily market commentary and forex news from esteemed sources like Bloomberg and Reuters. While LegacyFX provides traders with technical analysis tools from Autochartist, HYCM complements its offering with tools from Trading Central. Neither broker supplies sentiment-based trading tools or collaborates with TipRanks and Acuity Trading for additional research enhancements. Both also provide an economic calendar to keep traders informed of global news events.
Ranked slightly higher at #35 among 63 brokers by ForexBrokers.com for their research offerings, HYCM stands neck-and-neck with LegacyFX, which is ranked #46, both sharing a 3.5-star rating for their research capabilities. This indicates that both platforms offer a reliable suite of research resources with some differences in the specific tools available, allowing traders to choose based on their preferred technical analysis providers.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| 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 HYCM (Henyep Capital Markets) and LegacyFX for the educational resources they offer to beginners, both brokers provide a solid foundation with more than 10 educational pieces focused on forex and CFDs. They also give access to a searchable archive of recorded webinars, helping newcomers catch up on past sessions. Both HYCM and LegacyFX deliver over 10 beginner-friendly videos, making it easier for novices to grasp fundamental trading concepts. Moreover, each platform boasts an investor dictionary, ensuring that users can learn important investing terms. However, while HYCM does not have advanced videos specifically for experienced traders, LegacyFX provides more than 10, catering to traders looking to deepen their knowledge.
For online educational client webinars, LegacyFX outshines HYCM by offering them monthly, which could be an advantage for those who favor interactive learning. Both brokers are equally rated at 3.5 stars for their educational offerings, but there is a slight difference in their rankings. HYCM is ranked 32nd among 63 brokers by ForexBrokers.com, while LegacyFX follows closely at 35th. This subtle distinction might help potential users in making an informed choice based on their preferred learning style and resource availability.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| 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 LegacyFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while LegacyFX finished with an overall rank of #63.
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)
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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Both HYCM (Henyep Capital Markets) and LegacyFX do not offer the ability to buy actual, delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
HYCM (Henyep Capital Markets) and LegacyFX both provide options for fund transactions through Skrill, Visa or Mastercard, and bank wires, while neither supports ACH, SEPA, or PayPal for deposits or withdrawals.
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) | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | LegacyFX Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | LegacyFX | |
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| Regulation | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 1977 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| 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) | LegacyFX | |
|---|---|---|---|
| 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) | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 425 | |
| Forex Pairs (Total) | 70 | 44 | |
| 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) | LegacyFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| 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 | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $500 | |
| 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) | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| 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) | LegacyFX | |
|---|---|---|---|
| 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) | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| 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 | LegacyFX Review |
| Overall | HYCM (Henyep Capital Markets) | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | LegacyFX Review |
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