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, established in 2000, are reputable online brokers with a strong presence in the financial market. Both companies share the distinction of having a Trust Score of 86 out of 99 according to ForexBrokers.com, placing them in the trusted category. This means they are considered safe choices for those looking to navigate online trading, backed by reliable reputations and regulatory oversight. While neither of the companies is publicly traded or operates as a bank, they each hold two Tier-1 licenses, indicating the highest level of trust from ForexBrokers.com in terms of regulatory compliance.
However, a key difference lies in their Tier-2 licensing, where HYCM holds one Tier-2 license, whereas Questrade holds none. This sets HYCM slightly apart in terms of secondary regulatory assurance. Despite being newer to the market, Questrade matches HYCM in essential regulatory trust metrics. Both brokers offer a considerable level of security and assurance for traders and investors, with HYCM's longer market presence potentially providing confidence rooted in its established history. Overall, their similar scores and licenses present potential clients with secure options for trading, depending on individual preferences and needs.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Year Founded | 1977 | 2000 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
HYCM (Henyep Capital Markets) offers various account options that can cater to different trading needs, with competitive pricing on its Raw account. This account features an all-in cost of about 0.6 pips for the EUR/USD, making it an attractive choice for those seeking lower costs. The Classic account, however, carries a higher price with a variable spread starting from 1.2 pips. Additionally, HYCM provides a fixed-spread account option at 1.5 pips, allowing for more predictable trading expenses. HYCM earns a strong 4.5-star rating for its commissions and fees and ranks #15 out of 63 brokers in this category according to ForexBrokers.com.
In contrast, Questrade's target spreads on the EUR/USD are notably higher at 1.9 pips, which can be considered steep compared to the industry average. This makes Questrade a less economical option for traders, especially those making frequent transactions. As a result, Questrade receives a 3-star rating for its commissions and fees, placing it much lower in the rankings at #58 out of 63 brokers in this category as rated by ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Minimum Deposit | $20 | $250 |
| 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 | |
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by HYCM (Henyep Capital Markets) and Questrade, both brokers provide opportunities for forex trading as CFDs or spot contracts. However, they differ in the number of tradeable symbols available. HYCM offers a larger selection with 1,199 symbols, while Questrade provides access to 641 symbols. While HYCM features 70 tradeable forex pairs, Questrade surpasses this with 110 pairs, giving forex traders a broader range of options. Both brokers enable investors to purchase exchange-traded securities on U.S. exchanges and international platforms, allowing clients to invest in major stocks like Apple and Vodafone. Additionally, they both offer cryptocurrency derivatives, but neither offers the purchase of actual cryptocurrencies.
Despite HYCM's extensive offering, it scores 4 out of 5 stars for its range of investments, while Questrade impresses with a higher rating of 5 stars. According to ForexBrokers.com's ranking of 63 brokers, HYCM is positioned at number 33 in the Range of Investments category, whereas Questrade holds a more favorable rank at number 11. This suggests that while both platforms provide a diverse array of trading opportunities, Questrade might be a more attractive option for those emphasizing a wider selection in their investment portfolio.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 641 |
| Forex Pairs (Total) | 70 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | ||
| Cryptocurrency (Physical) | ||
| 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.
HYCM and Questrade both offer traders the opportunity to hone their skills with simulated trading through free demo accounts. Each broker provides proprietary platforms that can be accessed through Windows-based desktop applications and web-based platforms, ensuring versatility across different devices. While HYCM has the added advantage of offering MetaTrader 4 and 5, Questrade compensates with DupliTrade support, giving users the chance to explore unique trading features. Despite the absence of copy trading options and ZuluTrade access for both, traders can still enjoy executing trades directly from stock charts.
When it comes to charting tools, Questrade takes a slight edge with 20 drawing tools compared to HYCM's 15. Additionally, Questrade offers more comprehensive watchlist management, offering 52 customizable fields versus HYCM's 7. Both platforms earn a respectable 4-star rating for Trading Platforms and Tools. However, Questrade is positioned slightly higher in the category by ForexBrokers.com, ranking 34th out of 63 brokers, while HYCM is ranked 40th. This overall comparison indicates that while both brokers provide solid trading platforms, the choice may ultimately come down to specific tool preferences and platform customization needs.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | ||
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Drawing Tools (Total) | 15 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HYCM and Questrade provide excellent mobile trading apps available on iPhone and Android, featuring functionalities designed to enhance the user experience. These apps allow users to view both stock and forex price alerts conveniently. While HYCM and Questrade mobile platforms offer comprehensive charting capabilities with the possibility to draw trendlines and view multiple time frames, Questrade edges out with 64 technical studies compared to HYCM’s 30. Both mobile apps support watchlist symbol syncing, allowing seamless integration with online accounts. Additionally, they enable the creation of watchlists with real-time quotes, ensuring traders stay informed.
When it comes to performance ratings, both HYCM and Questrade have earned a 4-star rating for their mobile trading apps. Despite their similar ratings, Questrade holds a slightly higher rank at #34 compared to HYCM’s #37 in the Mobile Trading Apps category on ForexBrokers.com. Overall, choosing between these two may come down to personal preference, as both have strong offerings in terms of features and user experience.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| 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 evaluating HYCM (Henyep Capital Markets) against Questrade for their market research offerings, each broker exhibits unique strengths. HYCM consistently provides daily market commentary along with forex news sourced from top-tier outlets like Bloomberg, Reuters, and Dow Jones, which can be invaluable for traders who rely on timely information. While Questrade does not offer daily market commentary or forex news from such prominent sources, it does integrate research tools from Autochartist, alongside a robust package from Trading Central, enhancing technical and fundamental analysis for its users. Both platforms offer access to Trading Central tools, but Questrade further distinguishes itself by providing market research from TipRanks, a feature not available with HYCM.
In terms of features like economic calendars displaying global news events, both HYCM and Questrade deliver similar levels of service. However, neither broker provides sentiment-based trading tools or offerings from Acuity Trading. It's worth noting that within ForexBrokers.com's research rankings, HYCM slightly edges out Questrade, earning a higher spot at 35 of 63 compared to Questrade's 51, despite both receiving the same 3.5-star rating. This ranking difference may suggest variations in user satisfaction or specific research complement offerings, informing traders' selection based on their strategic preferences.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | ||
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
HYCM (Henyep Capital Markets) and Questrade both provide valuable educational resources for those new to trading forex or CFDs. They each boast an impressive collection of over 10 educational materials, ranging from articles to videos and archived webinars. Questrade and HYCM also feature a searchable archive of past webinars, allowing beginners to learn at their own pace. Both brokers offer at least 10 beginner-focused educational videos covering essential trading topics, making them suitable choices for newcomers eager to understand the trading world.
HYCM has the added benefit of providing an investor dictionary with definitions for over 50 investing terms, which is a handy tool for beginners looking to build their financial vocabulary. Both brokers have educational ratings of 3.5 stars, reflecting their commitment to supporting beginner traders. According to ForexBrokers.com, HYCM stands slightly ahead in the education rankings, holding the 32nd position out of 63 brokers, while Questrade follows closely at 36th. This ranking suggests a comparable but slightly distinct emphasis on beginner education between the two, making either a feasible choice depending on individual learning preferences.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | ||
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) | Yes |
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 #29, while Questrade finished with an overall rank of #32.
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)
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Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 86 |
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HYCM (Henyep Capital Markets) and Questrade both provide the option to invest in cryptocurrency derivatives but do not offer the ability to purchase actual delivered cryptocurrency.
While HYCM (Henyep Capital Markets) and Questrade both offer Visa, Mastercard, and bank wire transfers for depositing and withdrawing account funds, neither provides ACH or SEPA options; additionally, HYCM supports Skrill but not PayPal, whereas Questrade does not list PayPal or Skrill as available options.
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 | 86 | 86 | |
| 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 | 86 | 86 | |
| Year Founded | 1977 | 2000 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | |||
| Tier-1 Licenses | 2 | 2 | |
| 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) | |||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | Yes | ||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 641 | |
| Forex Pairs (Total) | 70 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | |||
| Cryptocurrency (Physical) | |||
| 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) | Questrade | |
|---|---|---|---|
| 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 | ||
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes |
| Funding | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Minimum Deposit | $20 | $250 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | |||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 52 | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Drawing Tools (Total) | 15 | 20 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | ||
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| 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) | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | |||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| 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 | Questrade Review |
| Overall | HYCM (Henyep Capital Markets) | Questrade | |
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| Trust Score | 86 | 86 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
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