Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs HYCM (Henyep Capital Markets), 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.
Pepperstone (founded 2010) and HYCM (Henyep Capital Markets, founded 1977) are online brokers that are privately held and not banks. Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses, while HYCM holds 2 Tier-1 licenses and 1 Tier-2 license—tiers that ForexBrokers.com classifies as highly trusted and trusted, respectively. On the ForexBrokers.com Trust Score out of 99, Pepperstone scores 94 (highly trusted: 90–99) and HYCM scores 85 (trusted: 80–89).
In plain terms, both firms are regulated, but Pepperstone has a higher Trust Score and more top-tier licenses than HYCM. Since neither broker is publicly traded or a bank, these licenses and Trust Score ranges can help traders compare their oversight and overall trust level.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 2010 | 1977 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone is a good choice for traders who want low-cost pricing on its Razor account, especially if they trade often. The Razor account uses commission-based pricing and, on EUR/USD, showed an average spread of 0.10 pips in July 2024, with an all-in cost of about 0.80 pips after commission. Its Standard account is simpler because it has no commission, but the average EUR/USD spread of 1.1 pips makes it the pricier option. Pepperstone also offers an Active Trader program that can lower costs for high-volume traders. Pepperstone earns 5 out of 5 stars and ranks #5 out of 36 for commissions and fees.
HYCM (Henyep Capital Markets) is also competitive on pricing, with its Raw account offering an all-in EUR/USD cost of about 0.6 pips after commission, which is slightly better than Pepperstone’s Razor account. HYCM’s Classic account is more expensive, with variable spreads starting from 1.2 pips, while its fixed-spread account lists a spread of 1.5 pips. This gives traders a few different ways to trade, depending on whether they prefer tighter pricing or simpler costs.
Overall, HYCM has the edge on raw trading costs, while Pepperstone stands out for its strong pricing on the Razor account plus extra savings for active traders. Pepperstone is rated 5 stars and ranked #5, while HYCM is rated 4.5 stars and ranked #18 for commissions and fees.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $10 | $20 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 0.6 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and HYCM (Henyep Capital Markets) both let traders access forex as CFDs or spot contracts, and both also offer cryptocurrency CFDs. Pepperstone stands out for having a wider overall product list, with 2,631 tradeable symbols compared with HYCM’s 1,199. That said, HYCM offers a slightly larger selection of forex pairs, with 70 versus Pepperstone’s 65. Pepperstone also supports copy trading and lets clients buy actual cryptocurrency, while HYCM does not offer either feature.
HYCM has the edge for investors who want direct share ownership, since it offers exchange traded securities on both U.S. and international exchanges, such as Apple and Vodafone. Pepperstone does not offer these stock-buying options. In ForexBrokers.com’s Range of Investments category, both brokers are rated 4 out of 5 stars, though Pepperstone ranks higher overall at #23 out of 36 brokers, compared with HYCM at #28.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2631 | 1199 |
| Forex Pairs (Total) | 65 | 70 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | Yes | 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.
Pepperstone and HYCM (Henyep Capital Markets) both give traders a wide choice of platforms and tools, including free demo accounts, in-house platforms, Windows desktop apps, web-based trading, MetaTrader 4, and MetaTrader 5. Both brokers also let you trade directly from charts, making it easier to act on price moves without switching screens. In this area, Pepperstone and HYCM are closely matched on the core basics, so either can suit traders who want flexible platform access across desktop and browser.
The key difference is that Pepperstone offers copy trading, while HYCM does not. That can matter for beginners or anyone who wants to follow other traders’ strategies. Both brokers are rated 4 out of 5 stars for Trading Platforms and Tools, but Pepperstone holds a stronger ForexBrokers.com ranking at #21 out of 36, compared with HYCM at #34 out of 36. If copy trading and a higher category ranking are important to you, Pepperstone has the edge.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 90 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HYCM (Henyep Capital Markets) both make mobile trading easy for iPhone and Android users, and each app includes price alerts, 30 technical studies, trendline drawing, and auto-saving for chart drawings. Both brokers also earn the same 4-star rating for mobile trading apps, so in basic charting and core app features, they are closely matched.
The main difference is watchlist syncing. Pepperstone lets watchlists sync between its mobile app and online account, so updates carry over between devices. HYCM does not offer that feature, which may matter if you want a smoother handoff between desktop and mobile. That edge helps Pepperstone place higher overall in this category, ranked #19 out of 36 brokers by ForexBrokers.com, compared with HYCM at #32.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | 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.
Pepperstone and HYCM (Henyep Capital Markets) both provide useful market research features, including daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar for tracking key global events. Both brokers also fall short in some areas, as neither offers Autochartist tools, TipRanks research, or Acuity Trading resources. This makes them fairly close on basic research coverage, with each giving traders access to the kind of news and event updates many beginners and active traders look for.
Where Pepperstone stands out is its sentiment tool, which shows the balance of long and short positions across currency pairs and other instruments, while HYCM does not offer that feature. HYCM, however, includes Trading Central tools such as Technical Analytics, which Pepperstone does not. Overall, Pepperstone is rated higher for research at 4.5 stars and ranks #13 out of 36 brokers on ForexBrokers.com, while HYCM holds 3.5 stars and ranks #32, giving Pepperstone the edge for market research overall.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone is the stronger choice for beginners looking for educational support. It offers forex and CFDs education, monthly online client webinars, at least 10 beginner trading videos, and also 10 advanced videos for traders who want to keep learning. This wider mix of learning content helps new traders build basics step by step, while also giving more experienced users room to grow. Pepperstone’s Education rating is 4.5 out of 5 stars, and it ranks #15 out of 36 brokers in the ForexBrokers.com Education category.
HYCM (Henyep Capital Markets) also provides beginner trading videos and forex or CFDs education, but it falls behind Pepperstone in a few key areas. It does not offer monthly educational webinars and does not have 10 advanced educational videos for experienced traders. With a 3.5 out of 5 stars Education rating and a #28 ranking out of 36 brokers, HYCM may still suit some beginners, but it offers fewer learning tools overall than Pepperstone.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than HYCM (Henyep Capital Markets). Pepperstone finished with an overall rank of #17, while HYCM (Henyep Capital Markets) finished with an overall rank of #26.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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HYCM (Henyep Capital Markets)
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|---|---|---|
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| Trust Score | 94 | 85 |
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Pepperstone offers both actual delivered cryptocurrency purchases and cryptocurrency CFDs, while HYCM (Henyep Capital Markets) offers cryptocurrency CFDs only and does not support buying actual cryptocurrency.
Pepperstone offers ACH/SEPA, PayPal, Skrill, and bank wire funding and withdrawals, whereas HYCM (Henyep Capital Markets) supports Skrill and bank wires but not ACH/SEPA or PayPal; Visa/Mastercard availability was not specified for either broker.
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 | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Regulation | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 94 | 85 | |
| Year Founded | 2010 | 1977 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA 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). | Yes | No |
| Tier-2 Licenses (Trusted) | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2631 | 1199 | |
| Forex Pairs (Total) | 65 | 70 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | Yes | 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 | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 0.6 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $10 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| Trading Platforms | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 90 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | 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 | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
| Overall | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
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