Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs TopFX, 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), established in 1977, is a well-regarded online broker with nearly half a century of experience under its belt. It holds two highly trusted Tier-1 licenses and one trusted Tier-2 license. The firm boasts a Trust Score of 86 from ForexBrokers.com, placing it in the "trusted" category. HYCM is not publicly traded, nor is it a bank, allowing them to focus on delivering a dedicated brokerage service to their clients.
Founded in 2010, TopFX has been in the online brokerage industry for over a decade. Holding one highly trusted Tier-1 license, TopFX has a Trust Score of 67 from ForexBrokers.com, which categorizes it within the "high risk" band. Like HYCM, TopFX is not publicly traded and is not a bank, concentrating their efforts on tailor-made brokerage solutions for their customers.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| 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 | 1 |
When comparing the commissions and fees of online brokers HYCM (Henyep Capital Markets) and TopFX, there are notable differences in their offerings. HYCM's Raw account provides competitive pricing with an all-in cost of about 0.6 pips for the EUR/USD, making it a cost-effective choice for traders. However, their Classic account is pricier with a variable spread starting from 1.2 pips, and there's also an option for a fixed-spread account at 1.5 pips. HYCM is well-regarded in the industry, earning a 4.5-star rating for commissions and fees and ranking 15th out of 63 brokers on ForexBrokers.com.
TopFX, on the other hand, offers two account types on MetaTrader and cTrader platforms: the spread-only ZERO account and the commission-based RAW account. The RAW account charges a commission of 2.75 EUR per side, resulting in an approximate all-in cost of 0.88 pips for the EUR/USD, which aligns with the industry average. Meanwhile, the ZERO account is commission-free but features higher average spreads of 1.03 pips. Despite its higher all-in costs compared to HYCM, TopFX has a respectable 4-star rating for commissions and fees and ranks 40th out of 63 brokers on ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Minimum Deposit | $20 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HYCM (Henyep Capital Markets) offers a comprehensive range of investment options for traders. With a total of 1,199 tradeable symbols, including 70 forex pairs, HYCM provides a broad spectrum of opportunities for those interested in forex CFDs. Furthermore, the brokerage firm allows clients to buy exchange-traded securities on both U.S. and international markets, such as Apple and Vodafone shares. However, HYCM does not support copy trading or the purchase of actual cryptocurrencies, although it does offer cryptocurrency derivatives. This wide array of offerings earns HYCM a 4-star rating for its range of investments, placing it at the 33rd spot out of 63 brokers in the Range of Investments category by ForexBrokers.com.
TopFX, on the other hand, gives traders access to 655 tradeable symbols, which includes 60 forex pairs available as CFDs. Unlike HYCM, TopFX does not offer exchange-traded securities from either U.S. or international exchanges, thus limiting options for investors looking to buy individual company stocks. However, it distinguishes itself by featuring copy trading, which can benefit traders seeking to replicate successful strategies. As with HYCM, TopFX provides cryptocurrency derivatives but not the option to buy the actual cryptocurrencies. While its investment range is more limited compared to HYCM, TopFX holds a 3.5-star rating and ranks 46th among 63 brokers in the same category according to ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 655 |
| Forex Pairs (Total) | 70 | 60 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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). | 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 TopFX, both brokers offer a variety of options for traders. Both provide simulated trading through free virtual demo accounts, allowing newcomers to practice without financial risk. HYCM stands out with a proprietary platform, a feature TopFX lacks. They both support Windows-based desktop platforms and web-based trading. While both brokers offer the popular MetaTrader 4 (MT4), only HYCM provides access to MetaTrader 5 (MT5). Moreover, neither broker supports copy trading through DupliTrade or ZuluTrade, though TopFX does allow copy trading through other means.
When it comes to charting tools, both HYCM and TopFX are on equal footing, offering 15 drawing tools and the ability to trade directly from a stock chart. Trader customization is supported with the same number of columns for watch lists, totaling seven. They both share a four-star rating for their trading platforms and tools, yet HYCM is slightly better ranked at #40 compared to TopFX's #45 out of 63 brokers on ForexBrokers.com, highlighting a marginal preference for HYCM's offerings among reviewers.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both HYCM and TopFX offer a range of features to enhance the trading experience. Users of either platform can trade using their iPhones or Android devices and receive stock or forex price alerts. Both apps support drawing trendlines on charts and viewing multiple timeframes, accommodating traders’ needs for detailed analysis. With 30 technical studies available on each app, users can conduct thorough chart analysis. Both platforms also allow the creation of watchlists with real-time quotes, though neither offers syncing watchlists across devices. Trendline drawings are auto-saved on both HYCM and TopFX apps, a convenience for traders on the go.
In terms of user satisfaction, both HYCM and TopFX receive a solid four-star rating for their mobile trading apps. However, HYCM holds an edge in the competitive landscape, ranking 37th out of 63 brokers as opposed to TopFX's 51st position, according to ForexBrokers.com. While both platforms deliver key trading functionalities, HYCM appears slightly more favored in terms of user appeal in the broader market.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| 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 (Henyep Capital Markets) and TopFX, there are some distinct differences in their market research offerings. HYCM stands out by providing daily market commentary, giving their users insights into the latest market trends. Both brokers deliver forex news from top-tier sources, ensuring traders are kept informed. However, while HYCM offers technical analysis tools through Trading Central, it lacks any tools from Autochartist. On the other hand, TopFX provides access to Autochartist’s tools, giving traders robust analytics options, while also offering resources from Trading Central.
TopFX holds an edge with a sentiment-based trading tool that displays a ratio of long or short positions, a feature HYCM does not offer. Both platforms provide an economic calendar that highlights current and upcoming global news events. In terms of research ratings, HYCM is rated at 3.5 stars and ranks 35th out of 63 brokers according to ForexBrokers.com, while TopFX is rated 3 stars, ranking 60th. This suggests that while both brokers have solid offerings, HYCM might offer a slight advantage in market research tools and resources.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, HYCM (Henyep Capital Markets) and TopFX offer varying levels of support for new traders. HYCM provides a wealth of resources, including more than ten educational pieces focusing on forex and CFDs. Additionally, beginners can access a searchable archive of recorded webinars, ten beginner-level educational videos, and an investor dictionary that defines over fifty investing terms, making it easier for newcomers to understand industry jargon. Although HYCM does not host monthly webinars or provide advanced educational videos, it is rated 3.5 stars in the Education category, ranking at #32 out of 63 brokers according to ForexBrokers.com.
In contrast, TopFX falls short in its offerings for educational resources tailored to beginners. It does not meet the minimum of ten educational pieces, nor does it provide beginner-level trading videos or an investor dictionary. Also, there are no ongoing webinars or archives available for learners. With these limitations, TopFX is rated 3 stars in Education and is ranked #61 out of 63 brokers. Consequently, beginners looking for more comprehensive educational support might find HYCM to be a better fit, given its broader range of resources and higher educational ranking.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 TopFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while TopFX finished with an overall rank of #62.
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)
|
TopFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 86 | 67 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both HYCM (Henyep Capital Markets) and TopFX do not provide the option to purchase actual (delivered) cryptocurrencies; however, they both offer the ability to trade cryptocurrency derivatives.
While both HYCM (Henyep Capital Markets) and TopFX offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only TopFX provides the convenience of PayPal, as neither broker supports ACH or SEPA transfers.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| 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 | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| 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) | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 655 | |
| Forex Pairs (Total) | 70 | 60 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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). | 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) | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Minimum Deposit | $20 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| 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) | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill