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 |
HYCM (Henyep Capital Markets) earns 4.5 out of 5 stars for commissions and fees and ranks #16 out of 63 brokers at ForexBrokers.com, while TopFX scores 4 out of 5 stars and ranks #41. On EUR/USD specifically, HYCM’s Raw account tends to be cheaper than TopFX’s RAW account based on the all-in cost.
HYCM’s Raw account delivers an all-in cost of about 0.6 pips on EUR/USD after commission. Its Classic account carries wider variable spreads starting from 1.2 pips, and there’s also a fixed-spread option at 1.5 pips. Traders seeking the lowest pricing at HYCM will likely prefer the Raw account.
TopFX offers two account types on MetaTrader and cTrader: the commission-free ZERO account and the commission-based RAW account. The RAW account charges 2.75 EUR per side (5.50 EUR per round turn) and, based on July 2024 averages, comes to roughly 0.88 pips all-in on EUR/USD (0.33 pips average spread plus a 0.55 pip commission equivalent). The ZERO account has no commission but showed higher average spreads of 1.03 pips on EUR/USD in July 2024. Minimum deposit varies by payment method.
| 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 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing HYCM (Henyep Capital Markets) and TopFX for range of investments: both offer forex trading as CFDs or spot. HYCM provides 1,199 tradeable instruments, including 70 currency pairs, and access to exchange‑traded stocks on both U.S. and international exchanges (not just CFDs). TopFX lists 655 instruments with 60 forex pairs, and does not provide exchange‑traded shares; trading is via CFDs. Neither broker sells actual, delivered cryptocurrencies, though both let you trade crypto derivatives.
If you want social features, TopFX supports copy trading, while HYCM does not. For overall breadth, HYCM earns 4 out of 5 stars and ranks 34th out of 63 brokers in ForexBrokers.com’s Range of Investments category, compared with TopFX at 3.5 stars and 47th.
| 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 (Underlying) | 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.
HYCM (Henyep Capital Markets) and TopFX both make it easy to get started with a free demo account for paper trading, and each supports Windows desktop and web-based platforms with the ability to trade directly from charts. Both brokers offer MetaTrader 4 (MT4). HYCM also provides MetaTrader 5 (MT5) and has its own in-house platform, while TopFX does not offer MT5 and has no proprietary platform. On the flip side, TopFX includes copy trading, which HYCM does not.
In independent testing for Trading Platforms and Tools, both HYCM and TopFX earned 4 out of 5 stars. HYCM ranks slightly higher at #41 of 63 brokers, while TopFX stands at #46. If you want MT5 and an in-house platform experience, HYCM is the natural pick; if copy trading is a priority, TopFX fits the bill. Either way, you can try both with a risk-free demo and use desktop or browser access to compare the experience firsthand.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading 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 |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HYCM (Henyep Capital Markets) and TopFX both offer mobile trading apps for iPhone and Android, complete with stock and forex price alerts and real-time quote watchlists. Each app includes 30 technical studies for charting, lets you draw trendlines, and auto-saves your chart drawings. Details about viewing multiple time frames (like daily, weekly, or intraday) were not specified for either broker.
Neither HYCM nor TopFX syncs watchlist symbols between the mobile app and the online platform. Both apps earn 4 stars for mobile trading, yet HYCM is ranked higher by ForexBrokers.com (#38 out of 63) compared with TopFX (#52 out of 63). If you want similar charting tools and alerts on both iPhone and Android, HYCM may have a slight edge based on its ranking.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research, HYCM (Henyep Capital Markets) stands out for publishing daily market commentary, while TopFX does not. Both brokers stream forex news from top-tier sources like Bloomberg or Reuters and include research from Trading Central. TopFX adds Autochartist tools and a sentiment gauge showing long vs. short positioning—features HYCM does not provide. HYCM does not list TipRanks or Acuity Trading tools; for TopFX, use of TipRanks or Acuity Trading isn’t specified. Both brokers offer an economic calendar covering upcoming global events.
For overall research quality, HYCM earns 3.5 out of 5 stars and ranks #36 of 63 brokers on ForexBrokers.com, compared with TopFX at 3 stars and a #61 ranking. In short, pick HYCM if you value daily commentary and higher-rated research, or consider TopFX if Autochartist and sentiment insights are priorities alongside headline news and Trading Central analysis.
| 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 |
| Client sentiment data | No | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing beginner education at HYCM (Henyep Capital Markets) and TopFX, HYCM clearly stands out for video-based learning: it offers at least 10 beginner-focused trading videos, while TopFX does not meet that mark. Neither broker runs monthly educational webinars, and it’s not specified whether either maintains a searchable archive of past sessions. It’s also not stated if their sites provide 10+ forex/CFD educational pieces overall (articles, videos, or archived webinars), or if they host an investor dictionary with 50+ terms. In short, if you prefer structured beginner videos, HYCM has an edge; if you rely on live webinars, neither will suit that need.
Independent ratings back up this gap. HYCM holds a 3.5-star Education rating from ForexBrokers.com and ranks #32 out of 63 brokers, while TopFX earns 3 stars and ranks #62. Beginners comparing forex and CFD education should weigh HYCM for its video library and check each broker’s website for the latest details on article libraries, webinar archives, and any investor glossary they may offer.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| 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 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
|
|---|---|---|
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| Trust Score | 86 | 67 |
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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.
In a HYCM (Henyep Capital Markets) vs TopFX deposits and withdrawals comparison, both brokers support bank wire transfers and Skrill, neither offers ACH or SEPA, only TopFX provides PayPal, and Visa/Mastercard availability is not specified.
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) | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | TopFX | |
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| 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) | |||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| 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 (Underlying) | 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 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order 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 | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Proprietary Desktop Trading 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 |
| Trading Tools | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - 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 | ||
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD [DELETED] | |||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
| Overall | HYCM (Henyep Capital Markets) | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
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