Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs Questrade, 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), founded in 1977, and Questrade, founded in 2000, are both online brokers that are not publicly traded and are not banks. Each earns a ForexBrokers.com Trust Score of 85 out of 99, placing both in the “trusted” range (80–89).
On regulation, HYCM holds 2 Tier-1 licenses (considered highly trusted by ForexBrokers.com) and 1 Tier-2 license (trusted), while Questrade holds 1 Tier-1 license and no Tier-2 licenses. Both are rated trusted, but HYCM has a broader mix of high- and mid-tier regulatory approvals, which may appeal to clients who value stronger oversight.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Year Founded | 1977 | 2000 |
| 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 | 0 |
If you’re comparing commissions and fees, HYCM (Henyep Capital Markets) stands out with a 4.5/5 star rating and a #18 of 63 ranking from ForexBrokers.com, while Questrade holds 3.5/5 stars and ranks #33 of 63. That scoring reflects how each broker structures pricing and what traders typically pay on forex and CFDs.
HYCM offers three clear choices. The Raw account delivers the lowest forex pricing, with an all-in cost around 0.6 pips on EUR/USD (spread plus commission). The Classic account uses a variable spread starting from 1.2 pips, and the fixed-spread account sets EUR/USD at 1.5 pips. For frequent forex traders, HYCM’s Raw account can translate to meaningfully lower costs.
Questrade Global uses spread-only pricing—no separate trading commission—so your costs are built into the marked-up bid-ask spread. While Questrade advertises spreads as low as 0.8 pips under normal conditions, average spreads on major pairs often land closer to 2.1–2.5 pips; a typical 2-pip spread on a standard lot is about $20 per trade. For CFDs, Questrade adds a $9.95 USD trading fee per unit on top of a small spread; opening and closing one unit would cost about $19.95 (roughly 5.813%), plus overnight financing (about $2.23 for one month, or 0.65%), meaning you’d need a return above 6% just to break even. Bottom line: HYCM’s Raw account tends to be cheaper for forex, while Questrade’s spread-only model is simpler but can be pricier—especially for CFDs.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Minimum Deposit | $20 | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HYCM (Henyep Capital Markets) vs Questrade: both let you trade forex as CFDs or spot. HYCM lists 1,199 tradeable symbols, while Questrade offers 675. For currency traders, Questrade posts 110 forex pairs compared with HYCM’s 70. In the Range of Investments category, ForexBrokers.com rates HYCM at 4 stars (ranked #27 of 63) and Questrade at 5 stars (ranked #12 of 63).
HYCM also provides access to exchange-traded securities on U.S. and international exchanges (so you can buy shares like Apple or Vodafone), which Questrade does not. Neither broker offers copy trading or direct, delivered cryptocurrency; however, HYCM lets you trade cryptocurrency via CFDs, while Questrade does not. Choose HYCM if you want more total symbols and exchange-traded shares, or pick Questrade if you want more forex pairs and a higher third-party rating for range.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 675 |
| Forex Pairs (Total) | 70 | 110 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | No |
| 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.
HYCM (Henyep Capital Markets) and Questrade both offer free paper trading with virtual demo accounts. Each provides a proprietary platform along with a Windows desktop download and a web-based platform, and both let you place trades directly from charts. Neither broker supports copy trading. The key difference is MetaTrader support: HYCM includes MetaTrader 4 (MT4) and MetaTrader 5 (MT5) alongside its own platform, while Questrade does not support MT4 or MT5.
For trading platforms and tools, both brokers earn 4 out of 5 stars from ForexBrokers.com. In the category rankings, HYCM is #32 out of 63 brokers, while Questrade is #28. The exact counts for built-in technical indicators and watchlist columns were not specified; consider checking each platform to confirm those details.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HYCM (Henyep Capital Markets) vs Questrade: both brokers offer mobile trading apps for iPhone and Android, plus price alerts on stocks and forex. Where they differ is watchlists—Questrade syncs your watchlist symbols between the app and your online account, while HYCM does not.
For charting, HYCM’s app includes 30 technical indicators, while Questrade’s app offers 64. Both support drawing trendlines and auto-save your chart drawings. HYCM is rated 4 out of 5 stars for Mobile Trading Apps, compared with 3.5 stars for Questrade, yet ForexBrokers.com ranks Questrade #28 and HYCM #30 out of 63 in this category. Choose Questrade if syncing and a larger set of indicators matter most; choose HYCM if you prefer the higher star rating.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at HYCM (Henyep Capital Markets) and Questrade, both earn 3.5 out of 5 stars, with HYCM ranked #29 of 63 brokers on ForexBrokers.com and Questrade at #34. HYCM stands out for daily market commentary, an economic calendar, and forex news from top-tier sources like Bloomberg or Reuters, plus research from Trading Central. Questrade skips daily commentary, top-tier forex news, and a calendar, but counters with Autochartist for technical pattern scanning, TipRanks for analyst insights, and Trading Central as well.
Choose HYCM if you want built-in news flow and an easy way to track market-moving events alongside Trading Central tools. Pick Questrade if Autochartist screening and TipRanks analyst data are more valuable to your research workflow. Note that both brokers lack sentiment tools and do not offer research from Acuity Trading.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | No | No |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
Comparing trading education for beginners, HYCM (Henyep Capital Markets) has an edge in video content: it offers at least 10 beginner-friendly videos, while Questrade does not meet that mark. Neither broker runs monthly client webinars, and neither provides 10 or more advanced trading videos. Both share the same education star rating (3.5/5), but HYCM ranks slightly higher (#27 of 63) than Questrade (#28 of 63) in the Education category on ForexBrokers.com. Details on whether either broker hosts 10 or more pieces focused specifically on forex or CFDs are not specified here.
If you’re starting from scratch and prefer learning through short videos, HYCM’s library may be more helpful. Questrade can still suit beginners who don’t need a large video catalog, but it also lacks regular webinars and deeper video content for experienced traders. For forex and CFD topics in particular, check each broker’s current education pages to see the latest lessons, articles, and recordings before you decide.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 Questrade. HYCM (Henyep Capital Markets) finished with an overall rank of #26, while Questrade finished with an overall rank of #29.
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).
| Feature |
HYCM (Henyep Capital Markets)
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Questrade
|
|---|---|---|
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| Trust Score | 85 | 85 |
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Comparing crypto availability, HYCM (Henyep Capital Markets) and Questrade both do not allow buying actual (delivered) cryptocurrency, but HYCM offers cryptocurrency CFDs while Questrade does not.
Comparing online brokers HYCM (Henyep Capital Markets) and Questrade: neither supports ACH or SEPA transfers or PayPal, both allow bank wire deposits and withdrawals, HYCM additionally supports Skrill while Questrade does not, and Visa/Mastercard availability is not specified for either.
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) | Questrade | |
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| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | Questrade | |
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| Regulation | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Trust Score | 85 | 85 | |
| Year Founded | 1977 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | 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 | No |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 675 | |
| Forex Pairs (Total) | 70 | 110 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | No | |
| 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) | Questrade | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Minimum Deposit | $20 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | No | No | |
| Economic Calendar | Yes | No |
| Education | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
| Overall | HYCM (Henyep Capital Markets) | Questrade | |
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| Trust Score | 85 | 85 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
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