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 |
When it comes to commissions and fees, HYCM (Henyep Capital Markets) comes out ahead of Questrade. HYCM earns a 4.5-star rating and ranks #18 out of 36 for commissions and fees. Its Raw account is the most cost-effective option, with an all-in EUR/USD cost of about 0.6 pips after commission. HYCM’s Classic account is pricier, starting from 1.2 pips, while its fixed-spread account lists a spread of 1.5 pips.
Questrade, by comparison, is rated 3.5 stars and ranks #35 out of 36 in the same category. Questrade Global is a spread-only broker, so there is no separate trading commission on forex trades; instead, the cost is built into the bid-ask spread. While Questrade says spreads can start as low as 0.8 pips in normal market conditions, real-world average spreads on major pairs were closer to 2.1 to 2.5 pips, which can make trades more expensive overall.
For CFDs, Questrade can be especially costly because it adds a $9.95 USD fee per unit on top of the spread. That means trading costs can rise quickly, especially on smaller positions. In short, HYCM generally offers lower trading costs and a better overall value for active traders, while Questrade’s pricing is simpler but often more expensive.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Minimum Deposit | $20 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.3 | 0.8 or higher |
| All-in Cost EUR/USD - Raw spread account | 0.6 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | 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 similar range of platform options, including a free demo account for paper trading, a proprietary platform, a Windows desktop download, and a web-based browser platform. Both brokers also let you trade directly from a stock chart, which can make placing orders easier for active users. In addition, neither broker offers copy trading, so traders looking for that feature will need to look elsewhere.
Where HYCM stands out is its support for MetaTrader 4 and MetaTrader 5, two popular platforms that many forex traders know well, while Questrade does not offer either one. Even so, both brokers are rated 4 out of 5 stars for trading platforms and tools. On ForexBrokers.com, Questrade ranks higher in this category at #30 out of 36 brokers, compared with HYCM at #35 out of 36, which suggests Questrade has a slight edge overall in this area.
| 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, and both let users set stock or forex price alerts. Each app also supports trendline drawing and automatically saves those drawings, which can make charting more convenient on the go. In these areas, the two brokers are fairly similar for mobile traders.
The bigger difference comes down to syncing and chart tools. Questrade lets watchlists sync between its mobile app and online account, while HYCM does not offer that feature. Questrade also provides more technical studies in its mobile charts, with 64 compared with HYCM’s 30. Even so, HYCM is rated slightly higher for mobile trading apps at 4 stars, compared with Questrade’s 3.5 stars, although Questrade is ranked higher by ForexBrokers.com in this category, coming in at #30 versus HYCM’s #33 out of 36 brokers.
| 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.
When it comes to market research, HYCM (Henyep Capital Markets) gives traders more built-in news and commentary than Questrade. HYCM offers daily market commentary, forex news from top sources such as Bloomberg and Reuters, and an economic calendar for tracking global events. It also includes Trading Central tools, which can help with technical analysis and trade ideas. Questrade also offers Trading Central and adds Autochartist and TipRanks, but it does not provide daily market commentary, top-tier forex news, or an economic calendar. Neither broker offers a sentiment tool or Acuity Trading research.
Both brokers are rated 3.5 out of 5 stars for Research, but their overall placement differs. HYCM ranks #32 out of 36 brokers for the Research category on ForexBrokers.com, while Questrade ranks #36 out of 36. In simple terms, HYCM may be a better fit for traders who want more news-led market updates, while Questrade may appeal to those who value Autochartist and TipRanks alongside Trading Central.
| 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 it comes to beginner-friendly learning tools, HYCM (Henyep Capital Markets) has a slight edge over Questrade. HYCM offers at least 10 educational videos made for new traders, while Questrade does not reach that mark for beginner video content. Neither broker offers monthly online educational webinars, and neither one provides enough forex or CFD-focused education to meet the standard of 10 or more dedicated pieces on those topics. Both brokers also share the same Education rating of 3.5 out of 5 stars, so neither stands out as a top-tier choice for learning overall.
Looking at ForexBrokers.com rankings, HYCM places a bit higher than Questrade in the Education category, ranking #28 out of 36 brokers compared with Questrade at #30. For beginners who want a broker with more entry-level video help, HYCM is the better pick of the two. Still, if you are looking for a broad library of forex or CFD education, neither broker offers a strong selection, so beginners may want to use outside learning sources as well.
| 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
|
|---|---|---|
| Overall Rating |
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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) - Spread-only account | 1.3 | 0.8 or higher | |
| All-in Cost EUR/USD - Raw spread account | 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 (Deposit/Withdraw) | 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 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| 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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