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 and HYCM both offer competitive pricing, but they suit different types of traders. Pepperstone earns a 5-star rating and ranks #6 out of 36 for commissions and fees, while HYCM scores 4.5 stars and ranks #18 out of 36. In simple terms, Pepperstone is generally the stronger pick for low-cost trading, especially if you trade often.
With Pepperstone, the best pricing is found on its Razor account, which uses a commission-based model plus tight spreads. On EUR/USD, Pepperstone listed an average spread of 0.10 pips on Razor as of July 2024, and after adding the commission equivalent, the all-in cost comes to about 0.80 pips. Its Standard account has no commission, but the average EUR/USD spread was 1.1 pips, making it the pricier option. Pepperstone also offers an Active Trader program that can reduce costs for high-volume traders through spread rebates.
HYCM’s pricing is also attractive, especially on its Raw account, where the EUR/USD all-in cost is about 0.6 pips after commission. That said, its Classic account starts from 1.2 pips on variable spreads, and its fixed-spread account is listed at 1.5 pips. Overall, HYCM can be a good choice for simple pricing, but Pepperstone offers more value for active traders and stronger overall commissions and fees results.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $10 | $20 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.8 | 0.6 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and HYCM both offer forex trading as CFDs or spot contracts, and both let you trade crypto CFDs rather than actual cryptocurrency. Pepperstone stands out for its wider overall selection, with 1,726 tradeable symbols compared with HYCM’s 1,199, while HYCM offers a slightly larger forex lineup with 70 pairs versus Pepperstone’s 65. Pepperstone also supports copy trading, which HYCM does not.
Where HYCM pulls ahead is in access to real exchange-traded shares: it offers exchange traded securities on both U.S. and international markets, while Pepperstone does not offer this type of investing. In ForexBrokers.com’s Range of Investments category, both brokers are rated 4 out of 5 stars, but 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) | 1726 | 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) | 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.
Pepperstone and HYCM (Henyep Capital Markets) both give traders a solid set of platform choices, including a free demo account, a proprietary platform, Windows desktop software, web-based trading, MetaTrader 4, and MetaTrader 5. Both brokers also let users trade directly from charts, which can make it easier to place and manage trades without leaving the screen. On Trading Platforms and Tools, both are rated 4 out of 5 stars, so each offers a good overall experience for traders who want flexibility across devices and platform styles.
The key difference is that Pepperstone adds copy trading, while HYCM does not. That extra feature may appeal to beginners or busy traders who want to follow other investors. In ForexBrokers.com’s ranking for Trading Platforms and Tools, Pepperstone places higher at #21 out of 36 brokers, compared with HYCM at #33, suggesting Pepperstone has a slight edge in this category overall.
| 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) | 15 | 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 it easy to trade on the go with iPhone and Android apps, along with price alerts, 30 technical studies for charting, trendline drawing, and auto-saved chart drawings. Both brokers are also rated 4 out of 5 stars for mobile trading apps, so each offers a similar basic experience for mobile users.
The main difference is that Pepperstone offers watchlist symbol syncing, so changes made in the mobile app and online account stay up to date across both places. HYCM does not offer this feature. That extra convenience helps Pepperstone stand out a bit more, and it also shows in ForexBrokers.com’s rankings, where Pepperstone places #19 out of 36 brokers for mobile trading apps, compared with HYCM at #31.
| 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 give traders daily market commentary, forex news from top names like Bloomberg and Reuters, and an economic calendar with upcoming global events. That means either broker can help you stay on top of major market moves and key data releases. Pepperstone goes a step further with Autochartist tools and a sentiment feature that shows long versus short positioning across markets, while HYCM stands out for offering Trading Central’s technical analytics.
In overall research quality, Pepperstone comes out ahead with a 4.5-star rating and a #13 ranking out of 36 brokers from ForexBrokers.com, compared with HYCM’s 3.5 stars and #30 rank. For traders who want a wider mix of built-in research tools, Pepperstone has the edge, while HYCM may appeal if Trading Central is a must-have.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | 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 stands out as the stronger choice for beginner-friendly trading education when compared with HYCM (Henyep Capital Markets). It offers forex and CFD learning materials, monthly online webinars, at least 10 beginner trading videos, and at least 10 advanced videos for more experienced traders. That wider range of education has helped Pepperstone earn a 4.5-star Education rating and a #15 ranking out of 36 brokers from ForexBrokers.com, making it a better fit for new traders who want more ways to learn.
HYCM also provides beginner trading videos and forex or CFD education, but it falls behind Pepperstone in key areas that matter to beginners, especially when it comes to live educational webinars and advanced video content. Its Education rating is 3.5 stars, and it ranks #27 out of 36 brokers on ForexBrokers.com for education. For traders who want more frequent learning support and a broader mix of educational content, Pepperstone offers the clearer advantage.
| 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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| Trust Score | 94 | 85 |
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In a head-to-head comparison, online brokers Pepperstone and HYCM (Henyep Capital Markets) both do not support buying actual (delivered) cryptocurrencies, but each offers cryptocurrency CFD trading for speculating on crypto price movements.
Between Pepperstone and HYCM (Henyep Capital Markets), Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, whereas HYCM supports Skrill and bank wire transfers but not ACH/SEPA or PayPal; availability of Visa/Mastercard funding was 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 | 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) | 1726 | 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) | 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 | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 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) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | 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) | 15 | 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 | Yes | 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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