Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs MultiBank, 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), established in 1977, and MultiBank, founded in 2005, are both noteworthy players in the online brokerage industry but neither is publicly traded or operates as a bank. When it comes to regulatory licenses, HYCM holds two Tier-1 licenses, which are highly trusted, and one Tier-2 license, indicating a strong footing in regulatory adherence. MultiBank, on the other hand, holds three Tier-1 licenses and one Tier-2 license, showcasing a slight edge in top-tier regulatory recognition.
In terms of trustworthiness as rated by ForexBrokers.com, HYCM boasts a Trust Score of 86, placing it in the trusted category. Similarly, MultiBank holds a Trust Score of 84, also classified as trusted. Both brokers exhibit a solid commitment to meeting high regulatory standards, making them reliable choices for traders looking to navigate the financial markets confidently.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Year Founded | 1977 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing the online brokers HYCM (Henyep Capital Markets) and MultiBank in terms of commissions and fees, HYCM offers its Raw account at a competitive rate with an all-in cost of about 0.6 pips for the EUR/USD pair after commission. This makes it an attractive choice for those seeking lower trading costs. Meanwhile, its Classic account starts with a variable spread from 1.2 pips, and the fixed-spread account begins at 1.5 pips. HYCM receives a commendable 4.5-star rating and ranks #15 out of 63 brokers, showcasing its appeal to traders prioritizing favorable cost structures.
MultiBank provides three account types: Standard, Pro, and ECN. While the Standard account's $50 minimum deposit might seem appealing, it involves higher spreads, making it less suited for those beyond the beginner stage. The Pro account requires a $1,000 deposit, offering lower spreads compared to the Standard account. For traders seeking the lowest spreads, the ECN account is the best option, requiring a higher deposit of $10,000 and charging a $3 round-trip commission per trade. MultiBank charges a monthly inactivity fee of $60 if no trading occurs for 90 days. It earns a 4-star rating and ranks #38 for commissions and fees.
In summary, HYCM stands out for its competitive pricing and higher rating, catering well to traders who prioritize low-cost trading. MultiBank, while offering diverse account options, requires significant capital in its ECN account for access to its most favorable trading conditions. Depending on one's trading experience and capital, each broker has its distinct advantages.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $20 | $50 |
| 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 | No |
| ACH or SEPA Transfers | No | Yes |
| 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 range of investments offered by HYCM and MultiBank, there are notable differences that potential traders should consider. HYCM stands out with 1,199 tradeable symbols and a robust offering of 70 forex pairs, compared to MultiBank's 1,042 symbols and 40 forex pairs. Furthermore, HYCM provides access to exchange-traded securities on both U.S. and international exchanges, allowing clients to purchase shares like Apple or Vodafone directly. MultiBank, however, does not offer trade in exchange-traded securities on these markets, focusing more on CFD trading.
Both brokers support forex trading via CFDs and have options for cryptocurrency derivatives. However, only MultiBank allows the purchase of actual cryptocurrencies. An additional perk for MultiBank users is the availability of copy trading, an option not provided by HYCM. Despite these differences, both brokers receive a four-star rating for their range of investments. In the ForexBrokers.com rankings, HYCM sits at #33, slightly ahead of MultiBank, which ranks at #37, reflecting marginal advantages in HYCM's overall offerings.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 1042 |
| Forex Pairs (Total) | 70 | 40 |
| 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 | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to choosing between HYCM and MultiBank for trading platforms and tools, traders will find a range of features with both options. Both HYCM and MultiBank provide free virtual demo accounts, allowing traders to practice and hone their skills. They each boast proprietary platforms and offer the popular MetaTrader 4 and MetaTrader 5 solutions, alongside Windows-based desktop and web-based trading platforms. However, when it comes to advanced options like copy trading, MultiBank edges out HYCM by offering this feature, catering to those interested in mirroring the trades of successful investors. Unfortunately, neither broker supports third-party trading platforms like DupliTrade or ZuluTrade.
For charting tools, MultiBank slightly outpaces HYCM with 17 drawing tools compared to HYCM's 15, although both allow direct trading from stock charts, enhancing user experience. They provide the same number of watch list fields, maintaining a balance for trader customization. Rated at four stars for their trading platforms and tools, both brokers offer competitive amenities. However, in terms of ranking, MultiBank narrowly surpasses HYCM, securing the 39th spot out of 63 brokers by ForexBrokers.com, just above HYCM at 40th. This close competition emphasizes their similarities, with subtle differences that might appeal depending on individual trading needs.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 38 |
| Charting - Drawing Tools (Total) | 15 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HYCM and MultiBank offer mobile trading apps available for iPhone and Android users, making it convenient to trade on the go. The two brokers provide essential features like stock and forex price alerts, the ability to draw trendlines, and access to a variety of time frames, including daily, weekly, and intraday views. Both apps allow you to create watchlists with real-time quotes and save your chart drawings automatically, ensuring that your trading tools are always up to date and synchronized.
When it comes to technical studies for charting, both HYCM and MultiBank offer 30 options, giving users a solid array of tools for analysis. However, neither app supports syncing watchlist symbols between the mobile app and online account. Despite this limitation, each app has earned a respectable 4-star rating for mobile trading. According to ForexBrokers.com rankings, HYCM is positioned slightly higher at #37 compared to MultiBank at #41 out of 63 brokers, indicating a minor edge in mobile trading app performance.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| 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 it comes to market research offerings, HYCM and MultiBank present distinct features for traders looking to stay informed. HYCM offers daily market commentary, enhancing its appeal for those seeking regular market insights, whereas MultiBank does not provide this feature. Both brokers provide forex news updates sourced from high-profile platforms such as Bloomberg and Reuters, ensuring traders are kept up-to-date with significant market events. In terms of technical analysis tools, HYCM has an edge by offering resources through Trading Central, unlike MultiBank. However, neither broker includes tools from Autochartist or Acuity Trading. Sentiment-based trading tools are also absent from both platforms, so traders looking for tools displaying long or short position data will need to explore other opportunities.
Additionally, both HYCM and MultiBank offer economic calendars to keep traders informed about global news events that might impact various economies. Despite these similarities in offerings, HYCM is ranked higher for research compared to MultiBank according to ForexBrokers.com, ranking 35th out of 63 brokers, while MultiBank is positioned at 49th. Both brokers share a research rating of 3.5 stars out of five, indicating competitive yet improvement-oriented standings in their research capabilities. Whether you prefer HYCM's more frequent commentary and additional technical insights or MultiBank's straightforward news approach depends on your specific trading needs.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| 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 it comes to educational resources for beginners, both HYCM and MultiBank provide a solid foundation with over 10 educational pieces, including articles and videos focused on forex and CFDs. However, HYCM sets itself apart with a searchable archive of recorded webinars, a valuable tool for learners who prefer revisiting materials at their convenience. While neither broker offers regular live educational webinars, both make up for it with a collection of beginner-friendly videos. Furthermore, HYCM enhances its educational offering by providing an investor dictionary featuring over 50 investing terms, a resource not available with MultiBank.
Although HYCM and MultiBank both receive a 3.5-star rating for education, HYCM ranks higher at #32 compared to MultiBank's #50 out of 63 brokers on ForexBrokers.com. This suggests that HYCM's educational resources are slightly more comprehensive and structured for those new to the world of trading. So, if you're starting your journey in trading and value a broader range of learning materials, HYCM might offer a slight edge in educational support compared to MultiBank.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | 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 MultiBank. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while MultiBank finished with an overall rank of #40.
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)
|
MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 84 |
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HYCM (Henyep Capital Markets) does not provide the option to buy actual (delivered) cryptocurrency and only offers cryptocurrency derivatives, whereas MultiBank allows clients to purchase both actual cryptocurrencies and their derivatives.
HYCM (Henyep Capital Markets) and MultiBank both support Visa, Mastercard, Skrill, and bank wire transactions for account funding and withdrawals, but only MultiBank offers ACH and SEPA transfer options, while neither broker supports PayPal.
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) | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | MultiBank Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | MultiBank | |
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| Regulation | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 1977 | 2005 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | Yes | |
| 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) | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 1042 | |
| Forex Pairs (Total) | 70 | 40 | |
| 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 | Yes | |
| 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). |
| Cost | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 38 | |
| Charting - Drawing Tools (Total) | 15 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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) | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | MultiBank Review |
| Overall | HYCM (Henyep Capital Markets) | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | MultiBank Review |
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