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.
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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 |
HYCM (Henyep Capital Markets) comes out ahead of Questrade on commissions and fees, especially for forex traders who want lower trading costs. HYCM’s Raw account offers competitive pricing, with an all-in EUR/USD cost of about 0.6 pips after commission. Its Classic account is more expensive, with spreads starting from 1.2 pips, and the fixed-spread account lists a 1.5-pip spread. HYCM is rated 4.5 out of 5 stars and ranked #18 out of 36 brokers for commissions and fees by ForexBrokers.com.
Questrade Global uses spread-based pricing, so there is no separate trading commission on forex trades. Instead, the cost is built into the bid-ask spread. Questrade says spreads can start as low as 0.8 pips in normal market conditions, but average spreads for major pairs were closer to 2.1 to 2.5 pips at the time of review, which can make trading more expensive than it first appears. Questrade is rated 3.5 out of 5 stars and ranked #34 out of 36 brokers for commissions and fees.
For CFDs, Questrade can become costly because it adds a $9.95 USD trading fee per unit on top of the spread. That means a trade can add up quickly, especially once overnight financing costs are included. In simple terms, HYCM offers the better value overall for fees and trading costs, while Questrade may suit traders who prefer spread-only pricing but should be aware of the higher effective cost.
| 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) and Questrade both let clients trade forex, but they differ in the types and breadth of investments available. HYCM offers a larger overall selection, with 1,199 tradeable symbols compared with Questrade’s 675. It also gives traders access to 70 forex pairs, while Questrade offers 110. Where HYCM stands out is in its wider product mix: it offers exchange-traded shares on both U.S. and international exchanges, plus cryptocurrency CFDs. Questrade does not offer U.S. or international exchange-traded shares through this setup, and it does not offer crypto CFDs or actual crypto for delivery. Neither broker offers copy trading or the ability to buy actual cryptocurrency.
In ForexBrokers.com’s Range of Investments category, Questrade earns a higher score, with 5 stars and a rank of #12 out of 36 brokers, compared with HYCM’s 4 stars and #28 ranking. That said, HYCM may appeal more to traders who want access to a broader mix of markets beyond forex, especially stock CFDs and crypto CFDs. Questrade, on the other hand, offers more forex pairs, which may matter more for traders focused mainly on currency markets.
| 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 give traders a good range of platform choices, including a free demo account, a proprietary platform, a Windows desktop download, and a web-based trading platform. Each broker also lets users place trades directly from a stock chart, which can make order entry faster and easier. In this area, both brokers are rated 4 out of 5 stars for Trading Platforms and Tools.
Where HYCM stands out is that it supports MetaTrader 4 and MetaTrader 5, while Questrade does not offer either platform. Neither broker offers copy trading. For charting indicators and watch list fields, the available details are not listed here. Based on ForexBrokers.com rankings, Questrade places higher in the Trading Platforms and Tools category at #29 out of 36 brokers, compared with HYCM at #33 out of 36.
| 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) and Questrade both offer mobile trading apps for iPhone and Android, along with stock or forex price alerts. Each app also lets users draw trendlines on charts and automatically saves those drawings, making it easier to track ideas on the go. HYCM’s mobile app includes 30 technical studies, while Questrade offers 64, giving Questrade a wider set of charting tools for traders who want more analysis options.
When it comes to staying organized, Questrade has an edge because watchlist symbols sync between the mobile app and the online account, while HYCM does not offer that feature. Still, HYCM earns a slightly higher mobile app rating at 4 stars versus Questrade’s 3.5 stars. In ForexBrokers.com’s Mobile Trading Apps ranking, HYCM is placed #31 out of 36 brokers, while Questrade is ranked #29, so both lag behind some competitors even though each offers the basics most mobile traders need.
| 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.
HYCM (Henyep Capital Markets) gives traders a stronger spread of market research than Questrade in a few key areas. HYCM provides daily market commentary, forex news from top sources such as Bloomberg and Reuters, and an economic calendar with upcoming global events. It also includes Trading Central tools for technical analysis, which can help traders spot possible opportunities and trends. Questrade, by contrast, does not offer daily commentary, top-tier forex news, or an economic calendar, but it does include Autochartist and Trading Central, plus TipRanks research.
When it comes to overall research quality, both brokers are rated 3.5 out of 5 stars. Still, HYCM ranks higher at #30 out of 36 brokers for Research, compared with Questrade at #35 out of 36. In simple terms, Questrade has a few useful extras like Autochartist and TipRanks, while HYCM stands out for timely market updates and economic news that may be more helpful for traders who want more market context.
| 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.
When comparing HYCM (Henyep Capital Markets) and Questrade for beginner education, both brokers land in a similar spot overall. Each is rated 3.5 out of 5 stars for Education, and neither offers monthly online educational client webinars. HYCM does have an edge for new traders because it offers at least 10 beginner-focused educational videos, while Questrade does not meet that mark. In ForexBrokers.com’s Education ranking, HYCM is placed #27 out of 36 brokers, just ahead of Questrade at #28.
For forex or CFDs learning content, neither broker appears to offer the minimum 10 educational pieces centered on forex or CFDs, so beginners looking for a large library on those exact topics may need to look elsewhere. HYCM is the better pick if you want more starter-friendly video lessons, while Questrade is a bit more limited in that area. Overall, both brokers offer some educational value, but HYCM provides a slightly stronger starting point for beginners.
| 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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