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 and HYCM (Henyep Capital Markets) are two well-known online brokers that offer extensive trading options for investors. Founded in 2010, Pepperstone has quickly established itself as a trusted broker with a ForexBrokers.com Trust Score of 95 out of 99, indicating a high level of trust. Meanwhile, HYCM, which has been around since 1977, holds a Trust Score of 86, making it a trusted choice for traders. Neither of these brokers is publicly traded or operates as a bank, which is common in the online brokerage industry.
When it comes to regulation, Pepperstone holds three Tier-1 licenses, which signals a highly trusted level of oversight, along with two Tier-2 licenses. HYCM has two Tier-1 licenses and one Tier-2 license, also giving it a solid standing in terms of trust and compliance. While both brokers offer reliable services, Pepperstone has a slight edge in regulatory approvals, which might appeal to traders seeking a broker with strong regulatory backing. Whether choosing Pepperstone or HYCM, investors are backed by years of experience and a commitment to secure trading.
| 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 tiered pricing that hinges on the account you choose. Pepperstone’s Razor account uses a commission-plus-spread model with an average EUR/USD spread of 0.10 pips; once you include the commission equivalent of 0.70 pips, the all‑in cost is about 0.80 pips (July 2024). Pepperstone’s commission‑free Standard account averages 1.1 pips on EUR/USD. HYCM’s Raw account has an all‑in cost of about 0.6 pips on EUR/USD after commission, while its Classic account has a variable spread from 1.2 pips and its fixed‑spread account is 1.5 pips. In simple terms, HYCM’s Raw account is cheaper out of the box than Pepperstone’s Razor on EUR/USD, while both brokers’ commission‑free options cost more.
High‑volume traders may find Pepperstone more attractive thanks to its Active Trader program, which rebates part of the spread. In the U.K. and EU, Professional clients trading at least £20 million per month can get a 15% per‑lot rebate on spreads, rising to 25% above £200 million. In Australia, Professional clients who trade at least 100 lots over three months qualify for Tier One (10% discount per standard lot), with Tier Three giving a 30% spread reduction for more than 3001 lots monthly. These discounts can materially lower Pepperstone’s effective costs.
Ratings and rankings for commissions and fees: Pepperstone is rated 4.5/5 stars and ranks #6 out of 63 brokers at ForexBrokers.com. HYCM is rated 4.5/5 stars and ranks #18 out of 63. If you want the lowest EUR/USD cost without extra steps, HYCM’s Raw is compelling; if you trade large volumes and qualify for rebates, Pepperstone can become highly competitive.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $0 | $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 (Henyep Capital Markets) both support forex trading as CFDs or spot contracts. Pepperstone lists 1,726 tradeable symbols and 65 forex pairs, while HYCM offers 1,199 symbols and 70 forex pairs. Both brokers let you trade cryptocurrency via CFDs, but neither allows buying actual (delivered) crypto. Pepperstone also supports copy trading; HYCM does not.
When it comes to exchange-traded stocks, HYCM lets clients buy listed shares on U.S. and international exchanges, while Pepperstone does not offer exchange-traded shares. Both earn 4 out of 5 stars for Range of Investments. According to ForexBrokers.com, Pepperstone ranks 23rd out of 63 brokers in this category, and HYCM ranks 27th.
| 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 both cover the essentials for traders who want flexibility. Each broker offers a free demo (paper trading) account, its own proprietary platform, a Windows desktop app, and a browser-based web platform. They also support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and both let you place orders directly from the chart. For Trading Platforms and Tools, both earn 4 out of 5 stars, though ForexBrokers.com ranks Pepperstone higher at 21st out of 63 brokers versus HYCM at 32nd.
The key difference is copy trading: Pepperstone provides it, while HYCM does not. If social or mirror trading is on your wish list, Pepperstone has the edge. If you simply want tried-and-true platforms like MT4/MT5 along with a demo account and the option to trade from charts on desktop or web, both brokers fit the bill.
| 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 deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, 30 technical studies for charting, the ability to draw trendlines, and auto‑saving of chart drawings. Both are rated 4 out of 5 stars for mobile trading apps.
The key difference is watchlist syncing: Pepperstone syncs watchlists between the mobile app and your online account, while HYCM does not. Looking at third‑party rankings from ForexBrokers.com for the Mobile Trading Apps category, Pepperstone places #19 out of 63 brokers, whereas HYCM ranks #30. If synced watchlists and a higher category ranking matter to you, Pepperstone has an edge; if you mainly need alerts and solid charting with 30 indicators, either app can fit the bill.
| 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 cover the basics of market research: you get daily market commentary, premium forex news from top-tier sources like Bloomberg/Reuters/Dow Jones equivalents, and an economic calendar to track upcoming events. The key differences are in their toolkits. Pepperstone includes Autochartist for pattern and setup ideas and offers a sentiment tool that shows the long/short ratio across instruments. HYCM does not provide Autochartist or a sentiment gauge, but it does include Trading Central for technical and fundamental insights. Neither broker integrates TipRanks or Acuity/Signal Centre.
On performance, ForexBrokers.com rates Pepperstone’s Research at 4.5 stars and ranks it #12 out of 63 brokers, while HYCM earns 3.5 stars and ranks #29. If you want automated chart pattern scanning and crowd sentiment, Pepperstone is the stronger pick; if you prefer Trading Central’s research style, HYCM can be a good match. Both brokers deliver daily insights and timely news to support your trading decisions.
| 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.
Comparing Pepperstone and HYCM (Henyep Capital Markets) for beginner-friendly trading education, Pepperstone comes out ahead. Both brokers offer at least 10 beginner videos that explain forex and CFD basics, but Pepperstone adds monthly live webinars and a deeper set of advanced videos for when you’re ready to level up. That fuller path is reflected in the ratings: Pepperstone earns 4.5 out of 5 stars for Education and ranks #15 out of 63 brokers on ForexBrokers.com, while HYCM earns 3.5 out of 5 stars and ranks #27.
For new traders, this means Pepperstone provides more ways to learn—live sessions each month plus ample advanced content—so you can move from fundamentals to more complex strategies in one place. HYCM still gives beginners a useful library of videos, but it does not run monthly educational webinars and has fewer advanced videos. Choose Pepperstone if you want live teaching and room to grow; pick HYCM if you mainly need beginner videos and prefer to learn at your own pace.
| 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 | 95 | 86 |
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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 | 95 | 86 | |
| 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 | 95 | 86 | |
| 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 SCA 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 | $0 | $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 | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
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