Saxo Bank vs HYCM (Henyep Capital Markets) 2023

Saxo Bank is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

HYCM is not publicly traded and does operate a bank. HYCM is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one tier-4 regulator (High Risk). HYCM is authorised by the following Tier-1 regulators: the Securities Futures Commission (SFC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

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.

To open a trading account with Saxo Bank, you'll need to make an initial minimum deposit of 0.

HYCM (Henyep Capital Markets) requires a minimum deposit of $20 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo Bank offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas HYCM (Henyep Capital Markets) provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo Bank offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo Bank holds 7 global Tier-1 licenses, while HYCM (Henyep Capital Markets) holds 3. Both Saxo Bank and HYCM (Henyep Capital Markets) hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo Bank (99) earned a higher Trust Score than HYCM (Henyep Capital Markets) (88).

To compare the trading platforms of both Saxo Bank and HYCM (Henyep Capital Markets), we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.

Here’s what trading platforms are available at Saxo Bank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at HYCM (Henyep Capital Markets):

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to HYCM (Henyep Capital Markets)'s 70 available pairs. If you are interested in trading CFDs, Saxo Bank offers traders access to 70000 CFDs, while HYCM (Henyep Capital Markets) offers access to 1199 CFDs; so Saxo Bank offers 68801 more CFDs than HYCM (Henyep Capital Markets).

We found in our testing that Saxo Bank offers a more diverse selection of investment options than HYCM (Henyep Capital Markets), allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.