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) and Questrade are two reputable online brokers catering to diverse investor needs. Founded in 1977, HYCM boasts a long history in the financial services sector, while Questrade, established in 2000, has carved out its niche in the Canadian market. Neither firm is publicly traded or operates as a bank, focusing instead on providing accessible online trading services. Both brokers are endorsed by their regulatory standings, holding two Tier-1 licenses each, indicating a high level of trust according to industry standards. HYCM edges slightly ahead in regulatory diversity with an additional Tier-2 license, showing its commitment to trusted operations.
Both HYCM and Questrade garner a Trust Score of 86 from ForexBrokers.com, ranking them as trusted brokers. This score reflects their commitment to maintaining safety and reliability for their clients. Whether you're inclined towards the well-established operations of HYCM or the Canadian-focused expertise of Questrade, either broker offers a dependable platform for navigating the online trading landscape.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Year Founded | 1977 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| 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 | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| 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 a solid suite of options. HYCM allows traders access to 1,199 tradeable symbols, including 70 forex pairs, making it a strong choice for those interested in forex trading through CFDs or spot contracts. It also supports investment in both U.S. and international exchange-traded securities, such as Apple and Vodafone, respectively. While HYCM does not offer copy trading or the ability to buy actual cryptocurrency, it does facilitate trading in cryptocurrency derivatives.
Questrade, on the other hand, offers a distinctive investment experience with 641 tradeable symbols that include 110 forex pairs, surpassing HYCM in forex options. Like HYCM, Questrade provides access to both U.S. and international exchange-traded securities. Despite neither broker offering direct cryptocurrency purchases, both enable trading in cryptocurrency derivatives. Overall, Questrade receives a higher rating and ranking for its range of investments, earning five stars and securing the 11th position out of 63 brokers, compared to HYCM's four stars and 33rd position.
| 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 | No | No |
| Cryptocurrency (Physical) | No | No |
| 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.
When comparing the trading platforms and tools of HYCM (Henyep Capital Markets) and Questrade, both brokers provide attractive offerings. Each offers simulated trading via free virtual demo accounts, letting traders practice without financial risk. Both brokers have developed their own proprietary platforms and cater to users that prefer Windows-based desktop platforms or web-based trading. A significant difference is their support for MetaTrader platforms; HYCM offers both MetaTrader 4 and MetaTrader 5, enhancing their appeal to forex traders. In contrast, Questrade lacks this option but has the advantage of providing DupliTrade for specific trading strategies. However, neither broker supports copy trading or ZuluTrade, meaning advanced social trading features are limited across both platforms.
In terms of charting tools, Questrade slightly surpasses HYCM with 20 drawing tools compared to HYCM's 15. Additionally, Questrade allows users to customize watch lists with up to 52 columns, greatly surpassing HYCM’s offering of 7. Both brokers support trading directly from a stock chart, which helps in quick decision-making. For overall platform and tool ratings, HYCM and Questrade both score 4 out of 5 stars. Despite the similar ratings, Questrade holds a higher rank at #34 versus HYCM at #40 in the Trading Platforms and Tools category by ForexBrokers.com, indicating a preference among a larger pool of traders.
| 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 | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| 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 (Henyep Capital Markets) and Questrade provide convenient trading options through their mobile apps, available for both iPhone and Android users. Traders can access real-time stock or forex price alerts on either platform, and both apps facilitate drawing trendlines and viewing multiple time frames on charts. While HYCM permits watching lists with real-time quotes and ensures auto-saving for chart drawings, the app does not offer watchlist syncing with the online account. In contrast, Questrade excels at syncing watchlists, offering a seamless transition between devices and expanding user capabilities with 64 technical studies for charting, compared to HYCM's 30.
Ranked by ForexBrokers.com, HYCM and Questrade are positioned at 37 and 34, respectively, out of 63 brokers in the Mobile Trading Apps category. Both apps are rated 4 out of 5 stars in user experience, reflecting their reliability and user satisfaction. Traders seeking extensive charting options may prefer Questrade for its broader range of technical studies. Despite these differences, both HYCM and Questrade provide comprehensive trading tools, catering to the needs of both beginner and experienced traders looking for accessible mobile trading solutions.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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 comparing HYCM and Questrade for market research, HYCM stands out with its daily market commentary and forex news updates from prestigious sources like Bloomberg and Reuters. In contrast, Questrade doesn't provide daily market commentary or forex news from top-tier sources. Both brokers offer tools from Trading Central, supporting traders with technical analysis. However, Questrade gains an edge with access to Autochartist, enhancing its technical and fundamental research options—a feature HYCM lacks.
Interestingly, neither broker provides sentiment-based trading tools or research via Acuity Trading's Signal Centre. When it comes to market intelligence from TipRanks, Questrade takes the lead. Both brokers offer economic calendars, and they share a research rating of 3.5 stars. Despite identical ratings, HYCM ranks higher at #35, compared to Questrade at #51, highlighting its competitive advantages in the research category.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those new to trading, both HYCM and Questrade offer educational resources to help you get started with confidence. Each provides a collection of more than ten educational materials focused on forex or CFDs, including articles, videos, and archived webinars. Both platforms also maintain a searchable archive of past webinars, which can be a treasure trove of information for beginners looking to enhance their knowledge at their own pace. When it comes to beginner-focused educational videos, both brokers offer a decent selection, which can be a great resource for newcomers.
However, HYCM edges slightly ahead with its offering of an investor dictionary, featuring definitions for over 50 investing terms—a handy tool for beginners navigating the complex language of trading. In contrast, Questrade does not provide this resource. Neither broker offers a regular schedule of live monthly webinars or a comprehensive library of advanced educational videos for experienced traders. In terms of educational ratings, both scored 3.5 stars, but HYCM is ranked slightly higher at #32 compared to Questrade's #36 among 63 brokers reviewed by ForexBrokers.com. Although both brokers provide solid educational resources, HYCM may provide a slight advantage for those who appreciate having a comprehensive dictionary at their disposal.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | 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 #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)
|
Questrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 86 |
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Both HYCM (Henyep Capital Markets) and Questrade do not offer the ability to buy actual delivered cryptocurrency, but both provide options for trading cryptocurrency derivatives.
Comparing online brokers, HYCM (Henyep Capital Markets) and Questrade both support Visa, Mastercard, and bank wire transfers for depositing and withdrawing funds, but while HYCM offers Skrill, neither platform supports ACH, SEPA, or PayPal transactions.
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) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| 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) | No | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | 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 | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | No | No | |
| Cryptocurrency (Physical) | No | No | |
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Minimum Deposit | $20 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| 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 | No | 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 | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| 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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